New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-16
WALL STREET AND EXCHANGES

FOREIGN TRADING.-Foreign houses dealt in
upward of $1,000 shares in the market selling
slightly on balance. In London British consols were
steady and Japanese bonds showed strength. There
was material change In the copper shares AL
though the Bank of England made change in
Its minimum rate Of discount. money firm. open
market discounts advancing. In Paris money rates
were higher. while in Berlin they slightly
lower. Paris exchange on London unchanged
and Berlin exchange fractlonaly under Wednes-
days rate.
PIG IRON CERTIFICATES MARKET.-The
market for pig iron certificates at the New-York
Produce Exchange opened dull and featureless.
Quotations were considerably lower. There were
no sales. Prices the first call follow Cash. SIT;
December S17dS7 50; January. 81 C5Q$1 %: Febru-
airy. ST 16qs17 30 March 81 O5Q$17 80: April and
May s17gsl7 10; June s7qs17 10; July. SIC 95QS7
There were sales the second call Prices
showed but little change from the start Closing
quotations Cash 81: December. ST 05dS17 30:
January. 81 1Oqsl7 Is February 81 1Oq$7 25 March.
81 1oq$l7 80; April S17QS17 80; May, ST. O5qsl7 As;
June, s174s17 25; July. sl7qSl7 80
STATEMENT BY KUHN. LOEB & Goa mem
Der Of Kuhn Loeb & Co. says: While our house
is not in the habit of making public afrmations or
denials Of current rumors reports wish
have wide publicity possible given the de-
NAL by firm, printed by the New-York News
Bureau, that Kuhn Loeb & Co. have any interest
in in any way concerned directly or indi-
rectIy, in any negotiations regarding the
the Lehigh Coal and Navigation Company's stock"
The Louisville and Nashville Railroad Company
has declared a cash dividend of per cent payable
on February 10. Although the dividend is Off
cialy spoken Of as semi-auuual disbursement, II
is understood that II IS regarded and that the
stock is thereby placed per cent basis Here
tofore the company has paid 212 per cent semi-an-
nually.
INCREASED ORDERS FOR STRUCTURAL
STEEI.-In the first ten days Of December the
United States Steel Corporation booked orders for
structural steel and bridge materials in excess OF
1000 tons, compared with 10000 for the entire
month of November and $4,000 tons in December
1t is expected that the total for this month will
exceed 5000 Orders for 1905 delivery
heavy steel rail orders already received amount
ing 10 than 100000
SOUTHERN IRON PRICES-It is reported that
sales of pig iron have made by Southern oper-
ators for the second quarter of 1905 at H4 a ton.
For the first quarter delivery prices have gone
high SO IS a ton. Predictions of SO for No.
pig iron by March for June delivery are made This
would be equivalent TO about $19 30 in New-York.
which would bring the price TO the point where
the German iron could be imported at small
profit
CANADIAN PACIFIC.-A report prepared for the
directors Of the Canadian Pacific Railway shows
that in the month of November the four most
important lines presented large increases in
ings as compared with the same month last year.
These lines in addition to Canadian Pacific
proper the Minneapolis St Paul and Saut Ste.
the Mineral Range The reports of Canadian Pa
cifc land sales show increase for November.
METROPOLITAN.-In some quarters bearsh
sentiment is expressed on Metropolitan shares.
the theory that the entrance of Mr.. Mcdonald into
the company's directorate and possible tunnel de
velopments in connection with the road Indicate
hostilities among the local traction interests.
UNITED STATES STEEL.-The sharp rally in
the United States Steel issues in London after
early weakness was considered a confirmation of
the belief in this city that the Morgan interests
are prepared to support these stocks in any event
500" LINE IMPROVEMENTS.-The Mime
apolis, St. Paul and Sault Ste Marie has begun
condemnation proceedings covering "a long strip
OF land in North Minneapolis and will expend
100000 charging facilities handling Iun-
Der traffic and provide for additional terminal
room.
APPLICATION TO LIST.-Appcation has been
made TO the Stock Exchange to list 100000 add-
tional PittsburR, Lake Erie and Western Virginia
system refundng mortgage 4 per cent bonds of
1871 of the Baltimore and Ohio Railroad The
Long Island Railroad has applied to list So 200 900
additional per cent refunding bonds OF 1919
MEXICAN LOAN AT A PREMIUM-In London
the Mexican loan offered at a premium of
per cent. According TO current indications The
loan will be heavily oversubscribed both in N.u-
York and London
PROFIT FOR CUBAN LOAN SYNDICATE
The members Of the syndicate formed bv Spever
Co. to underwrite the $50 10000 per cent Cuban
loan last May received 4 profit OF ! 5 per cent on
their subscriptions. The syndicate has been vvound
up. and the members at no time called unon
to pay in any cash