New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-17
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES.
FOREIGN TRADING-Foreign houses dealt in
about 5000 shares in the local market, selling on
balance In London copper shares rallied before
the CLOSE; also the Kaffir stocks, in which heavy
liquidation for Paris account was reported In the
early dealings. British consols and japanese bonds
were higher. There material change in
foreign discount rates.
MONTREAL AND BOSTON DEVELOPMENTS.
1t may be stated On authority that in the recent
decline in Montreal and Boston shares interests
actively identified with the property were heavy
buyers of the stock. and that the failure Of firm
that had been active in the issue has had abso-
lutely no effect on the plans of the management of
the company. Certain speculative interests were
compelled to throw over their holdings of the ISSUE
and this stock has gone into the hands OF people
who are financially interested in the property and
who took the stock on its merits. The recent
manipulation in Montreal and Boston stock was
not indorsed by the management of the property,
for the simple reason that the majority interests
in this company concerned in developing It's
copper mines rather than the stock
PRODUCE EXCHANGE CLEARING HOUSE
F3~orens~ Clearing House which was
incorporated n few days ago at Albany. has Tor
maIly organized with the election CT H. D. Clear
man president; William Knight, vice-preStdent;
c. c. Rubins, secretary and treasurer and IN ed
diton to those named, Yale Kneeland, Z. Pfarrius,
T. / Mcclure and S. X. Fox. directors The or
ganization is expected to be ready for business
about January 10. The charter provides for clear
ings of iron and cottonseed Oil contracts as wen
as grain contracts and it is expected that within
short time all the future dealings will be cleared
through the new organization. The system has
worked so successfully in Minneapolis. Kansas
CITY Winnipeg and Duluth that there is every
reason for expecting that it will add greatly to
the convenience and success OF BUSINESS meanings
on the exchange
GREAT ACTIVITY IN STEEL-It may be
stated on the authority of officer of the United
States Steel Corporation that the orders now being
received by the concern are at the rate of $1,000
tons a day. which is 5000 tons above the capacity
of the plants People who pessimstic over the
condition of the countrys industries and the pros
pects for the next twelve months will find in the
present position of the steel trade much cause for
announcement. There d good demand for the
steel shares in yesterdays market. ard it was
ported that a large amount of United States Steel
preferred had been taken in the last week for for
eign account
CURRENCY MOVENIENT.-The reported move
ments of currency this week indicate loss of only
$500 in cash held by the banks. They received
from the interior $72l5OJO and sent to the interior
g, ooh 100 OF which there was transferred through
the Sub-Treasury $1500,G0O to san Francisco. The
gain the interior So $50. The total loss
by gold exports. $26016o9 and Sub-Treasury opera
tons 81. 1890 4,603S00; deducting the gain
from Interior $4,000 and new gold. $lOO4,oO0
in all $3,565, 100 the net loss was S5S.lOO.
RAILWAY EQUIPMENT ORDERS-"The Rail
road Gazette reports new oroers for railway equip
placed the last week follows: American
Car and Foundry-Jersey Central go box cars;
Union Refrigerator Transit Company. 30 cars re-
paired, Pittsburg and Lake Erie, baggage cars;
Chicago and Eastern Illinois. 2U National dump
cars, and miscellaneous orders for 10 cars. Stand
ard Steel Car-Reading, 1000 box cars; Maine Cen
trail 100 freight Bessemer and Lake Erie 900
gondola cars and LehigE Valley 30 gondola cars
Pullman-Southern Pacific. 10 coaches; San Pedro,
Los Angeles and Salt Lake. coaches and Illinois
Central. 80 repaired Mount Vernon Car Com
Vermont. m
ACKNOWLEDGEMENTS engines from different compa-
MES.
PIG IRON CERTIFICATES MARKET-Pig
iron certificates at the New York Produce Ex-
change opened steady practically unchanged
prices from Thursday The sales amounted To Ion
tons of June at II 10. Prices the call were:
Cash. $l1; December. $l14SI1 50 January, 81 lJ1t
81 90 February ST 06g$7 90 March, ST O5a$I7 %;
April, ST lOg$l7 70: May Sl7 l04Sl7 70: June Sl7Q
SIT 4O July SIT O54$l7 49, Trading in the afternoon
was more active, and prices were lower The
sales We're: 200 tons of January, POO tons of March
and 800 tons of May. Final prices were: Cash ST.;
December. Sl54$l7 %; January. 81 I0q$l7 80 Feb
ruary $liQSl 20: March. SIT 10h$l7 70; April S17g
ST. 25 May, June and July, SIS g0G$l7
CORN EXCHANGE BANK-The statement NJ
the Corn Exchange Bank Of its condition on De-
cember makes an exceedingly interesting com
parlson III certain important items with thai of six
months ago. 1t shows increase in deDosts of
$O6i2 900. bringing that item up TO $5l2iO654 An
other important change is In the cash hold ,ybiob
shows increase of 81, s55 bringing the amount
up to S26.683 1S5. The statement shows thar the
institution is rapidly charging its volume OF bust
ness presumably owing in large part to the estab-
llshment Of branch banks. in which enternriss the
Corn Exchange Bank was the pioneer
DECLINE IN REFINED PETROL ETrN For
the purpose of stimulating the foreign demand for
refined petroleum the Standard OH Company has
reduced all it's export prices Is points a gallon
thereby lowering quotations to the basis OF SO
cents gallon in barrel lots and 1850 cents In cases
New York loading. The price OF refined petroleum !
in the domestic markets has been reduced y cent
q gallon making the Jobbing quotation in barrels
!3a cents a gallon and the bulk price in tanks lOl
cents gallon.
EXPORTS OF GRAIN CONTINUE LIGHT
Exports OF wheat. including -four for the current