New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-01
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES.
FOREIGN TRADING-ForeiGn houses sold
stocks in the local market putting out on balance
upward of $1,000 shares. In the London market
consols were lower and prices for most issues
were heavy Discount rates In the foreign cap
itals continued firm. while the inquiry for sold IN
Berlin and Paris again active.
HEAVY GOLD EXPORTS-Gold to the amount
of SIS 100000 was engaged for export to Paris yes
terday for Thursdays steamer. OF this amount
Heidebach Ickelheimer Co. took Sl.GO,OOo. the
United States Mortgage & Trust Company. 1900
900 and the Royal Bank of Canada sl0OO,c00. the
remaining 100000 being engaged by Lazaro
Freres The National City Bank will ship S2p'-
900 gold from it's own vaults to Paris on Tnurs-
day. this amount representing gold In transit from
Havana The engagements made at the Assay
Office were in the form Of gold bars and 1t was
announced at the Assay Office that there was
left only 100000 IN bars available for export III
was reported from Berlin that bankers at that
centre had secured 100000 gold in London. and II
therefore believed that the Berlin demand
would be felt in this market before the end OF the
week. Although sterling exchange was strong al
this centre, foreign importing firms were forced
to allow interest for the gold while in transit IN
order to make the operation profitable on this
side Regarding the supply OF gold bars at the
Assay Office It said that with the amount on
hand and with that in process or manufacture
the government would be able to supply upward
of s9OOoOOO for export in the course of the next
probable extent of the current outward movement.
some predictions being placed as high as $4,000
0O0
BOND MARKET IN OCTOBER.-Ffsk & Robin
son. in their monthly bulletin. say:
There has been an excellent demand for railroad
bonds during October The continued ease in the
money market, Improvement IN general business,
especially in the iron and steel trade. increasing
railroad earnings and feeling OF confidence re-
garding the financial industrial! and political sitHa
investment demand. The advance In the price OF
been commensurate with the rise in the price OF
standard railway shares, and there are now many
purchased to yield higher net return than many
OF the best class of railroad stocks The tendency
Of the banks noted in our last bulletin. TO exchange
- Sapnsits for As of 1905 and IS Of 1901 was
again noticeable during October. but the total of
such exchanges was less than during the preceding
The moderate demand for Is for circulation pur
poses was sufficient to keep the market hrm at
unchanged prices from those prevail
ing late in September. Applications TO retire circu-
ga 5lo III his amount ony S3s2 500 bonds were
withdrawn. Two applications of $4,000 each have
been none for Subsequent months. This would seem
to indicate disposition on the part OF holders OF t rs
issuance of canal bonds before anticipating the
ent holdings The total increase in circulation COM
pares favorably with previous months of this year
for the account of new banks. There are now Sass
banks o9 9ng These M Bans haTe cda
atng notes outstanding TO the amount of S45S.65-
ago " Of this amount is seoured by
United States bonds. made W Of $l712S 5Gl Is OF
81 500 Is Of 1925 The remainder Of circulation is
secured by deposit Of legal tender currency.
EARNINGS OF THE 800" COMPANY IN
OCTOBER-Gross earnings Of the Minneapolis
ST. Paul and Sault Ste. Marie for the first three
weeks IN October amounted $3.50 $50. compared
with s52OS72 in the same time In the preceding
year, increase Of 211 per cent From July l
gross earnings amounted to $.6345S2 against ST.
357 95S in the corresponding time In 1903 increase
of III per cent. The increase in freight earnings
from July l amounted to $245.s35, while passenger
traffic increased $14.O29 Miscellaneous income In
creased S6,5T7. With the opening of the company's
Winnipeg extension there will be large expan-
sion in earnings as that division of the road Will
carry enormous amount of wheat and general
merchandise traffic. which is increasing IN heavy
volume in Manitoba
CANADIAN PACIFIC.-Canadan Pacific stock
declined with the rest OF the market, but there
important liquidation. while on the setback
the stock taken by interests Identified with
the property. Sales represented clique operations
and had nothing to do with the intrinsic value of
tho issue London, Montreal and Minneapolis IN
vestors have been heavy buyers Of the Canadian
Pacific In the last few months
AMERICAN Mailing REPORT.-The annual
report OF the American Mailing Company shows a
net profit manufactured products of $49S 800
compared with SS656S in the preceding year and a.
surplus after charges taxes and depreciation of
=
plus is equivalent to OsO per on the preferred
stock
IRON AND STEEL MISUNDERSTANDING OF iron
and steel for the month OF September amounted IN
value to S1.l5O,A5. increase OF SO $50 SOS over
September. 1903. For the nine months ended Sep
TENDER 80 exports in value to 500 5s5 sS7
compared with S72 14.S6O in the corresponding time
in 1903 and S73. .016 IN 1902
WESTERN HOUSES SELLERs.-Western house,
heavy sellers OF stocks in the afternoon espe
cially in Union Pacific. Rock Island. Erie and
Southern Pacific Regarding Southern Pacific It
said that James r. Keene had also been a
heavy seller.
ST. LOUIS SOUTHWESTERN BONDS SOLD
The st. Louis Southwestern Railway Company has
sold 100000 of its first consolidated mortgage
bonds. The>foad is in a position to meet all
its financial requirements.
AMERICAN COTTON OIL-The American Cot
ton OIL directors will to-day to take action on
the question OF paying a dividend the common
stock In some circles II is thought that q small
amount will be decided on
NEW DIRECTORS OF PANAMA RAILROAD
The three members o. the Isthmian Canal Com
mission. General George w. Davis. Frank j..