New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-27

Totals. 119s72 700 1a5 1s7 700 l.
Reserve on total deposits 81 2os.a25 Reser
united States deposits included s233ISeOo
States Steel preferred In London. securities gen
orally were strong. especially the Kafir stocks
and the copper shares, There was no material
change in foreign discount rates
LEHIGH COAL. AND NAVIGATION.-In the
Philadelphia market active demand has de
velored for the stock Of the Lehigh Coal and
Navigation Company. and It is generally under
stood that the movement In this issue reflects
buying for the account OF people who are identt-
fled with the Central Railroad of New-Jersey.
Lehigh Navigation stock sold par in Fridays
market for the first time in its history. while yes
terday 1t made further progress toward a higher
level The majority OF the stock is held by
sentative Philadelphia investors and 1t IS under
stood that they have been offered par and above
Tor their holdings but 1t is quite likely that the
people who are seeking control will be forced to
pay much higher price for the issue. The COM
pany owns various properties which are now
leased TO the Central Railroad of New-Jersey and
1t Is therefore easy to why the latter com
pany would be peased TO secure absolute control
of the Lehgh Navigation. According to Pbila
ueiphia reports. as high rs will be paid for
the shares of the company In order 10 secure a
controlling interest in the property
CANADIAN PACIFTC-Eugene GuteIira NJ the
Canadian Pacific Railway, completion of i trip
of Inspection over the comDany's lines from the Al
lantc to the Pacific, says:
The improvements made on the C,,nadi,r p,c5s,
railroad lines all the way from St John \ g.
20 the facl1c nave placed it, as far smoothness
% iodu anu saIety OF travel Is concerned in ad-
vance OF any other transcontinental line The most
only small section, the entire road has been re-
ba n wa[h Spound rails and has been carefully
10 see the large number Of curvatures on the
prairie sections that have been cut out altogether
and notice the way the grades have been cut down.
When the line vas built I per cent grade was re-
enhs per cent grade is about the highest that
IS allowed. What such a reduction means may be
pest appreciated when II is observed that almost
doubles the hauling capacity of a locomotive.
THE COTTON MOVEMENT.-According to The
Financial Chronicle the total receipts of cotton
for the week ending November % reached $50 sos
bales against 3s4.7s last week and 37S767 the pre-
vious week. making the total receipts since Sep
TENDER, 1904 42lo27s bales against S654S71 for the
same period of 1903. showing an increase since Sep
TENDER l. 1904 of 555.407 bales Reports from the
South indicate that rain has fallen most sections
during the week, but that on the whole the pre-
cipitation has been light or moderate Picking
continues to make satisfactory progress and is ap
preaching completion in a number OF sections
Marketing of cotton has been a liberal scale.
COPPER TRADE BOOMING-A representative
of one of the largest copper selling agencies says:
never knew conditions in the copper trade le-
time We cannot sell another pound of copper for
ae eSy before January and the United Metals
not DESTROYS of having copper go above its pres
metal prices be prevented. Both Russia and
and the General Electric people are preparing for
very extended use OF it
THE ARIZONA CONSOLIDATED MINING
COMPANY.-The Arizona Consolidated Mining
Company owns four highly developed mines In
Santa Cruz and Pima counties, Arizona. three Of
which are low grade sold mines and a lead
slver-gold mine. The properties owned by the
company were consolidated last August. and they
operated company. the result OF
which is q large saving In expense and increase
in the actual output. There has been a provision
made by the company whereby Sl5000o OF stock
will remain In the treasury. and all equipment
and development shall be made from the sale Of
this stock so that the earnings from the mines
shall he distributed in dividends thev AC
cording to the reports of competent engineers. all
elements of doubt and experiment regarding the
future of the companys property eliminated.
owing TO the fact that the has been proven in
large quantities. running in true assure veins.
Southern Arizona IS now recognized a. one OF The
great ore producing regions of the West and in the
Ave years mines have been developed that have
produced most sat sfaCtOry results 10 the stockhOd
ers of the companies.
PIG IRON CERTIFICATES AT PRODUCE EN-
CHANGE-Business In pig iron certificates at the
NewYork Produce Exchange was more active and
prices were to 20 points higher than the closing
quotations of Friday There were sales OF 100
tons OF the May delivery at 81 so. Prices on the
call follow: Cash on November. 81; December,
81 05s7 25 January s7 200 ST So February ST 5Q
81 IS; March, ST 10s17 IS: April 81 @ogs 90; May.
ST 25gs 80: July, ST 25Zsl7 IS.
NOVEMBER Observation-Disclosures reporting
earnings for the first week in November show a
total increase of more than per cent for the
ond week increase of more than per cent and
for the third week increase of nearly l3 per
cent. or the roads reporting yesterday for the
third week the most important gains we're made by
the Denver and Rio Grande. which showed an in
crease OF s17.500: the Louisville And Nashville.
increase Of 500, 1875 and the Southern Railway.
increase CT S0,06l
JERSEY CENTRAL'S MISUNDERSTANDING OF
the Central Railroad OF New-Jersey for the month
of October show decrease OF SIS. +S in gross. but
owing large decrease in operating expenses net
earnings increased $5S.l54. Surplus after charges
decreased 724l6, making decrease in surplus from
July OF SOS 966. The company this year Is making
Il liberal deduction each month tOr renewals. addi-
lions ard improvements In four months the com
pany has earned at rate which Is equivalent to
upward OF IA per the stock for the year
ATCHSON'S LOSS IN EARNINGS-The report
of the Atchsop. Topeka and Santa Fe Railroad
Company FOR the month OF October shows falling
off In earnings OF sOa6645. and decrease IN
net earnings OF sl.2S4.516 comparison being made
with the same month a year ago FROM July net
earnings have decreased $ls6s.675 and surplus ar
ter taxes and rentals has decreased S9.1O5,721.
READINC;.-The committee on securities rules
that all contracts in Reading Company hrst pre-
ferrcd, Reading Company second preferred and
Reading Company common, maturing December
TO H. 1901 may be settled by delivery Of either the
voting trustees certificates the stock of the
class contracted for. On December l5 1884, and
thereafter. stock only will be delivery.
RULING ON JAPANESE BoNDs.-The COM