New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-10-28
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses were
heavy sellers in the local market their sales
amounting to upward OF 60 900 shares. In the Lon
don market severe declines on a heavy volume of
liquidation prevailed all departments. including
American issues, with particularly heavy selling
for Paris account. Both in Paris and Berlin the
markets were upset over the possibility OF be-
tween Russia and England. British consOls and
French rentes declined over point Discount rates
generally were hrner.
GOLD EXPORTS-Heidelbach. Ickelheimer &
Co engaged $100ollO gold for export to Paris, and
the Royal Bank Of Canada 81 10000 for the same
destination making total engagements far this
week S3.25OO00. The sterling market strong
throughout the day, under active demand for
remittance which could not be satisfied by the
available amount of bills IN sight. While only
100000 actually engaged for export negotia-
tons for further shipments by Saturdays steamer
were under way, and It thought that engage
ments by the National City Bank and Lazard
Freres would be announced to-day. The urgency of
the foreign demand for gold is reflected in the fact
that shipments are being made with sterling under
the normal shipping point which means that for
eign bankers compelled to offer extra induce
ments bring the metal to their side of the ocean
OF course. the demand for gold from Europe has
been intensified by the Auglo-Rtlssian situation.
CHICAGO GREAT Observation-Disclosures Of Chi
cago Great Western stocks for the last ten days
evidently has been for some new interest. The re-
port that the Union Pacific had secured control of
the property has been denied by both sides but the
fact that the Ontario and Western was bought for
control is an indication that the large systems
propose control the smaller roads that are in a
position to affect rates. The Chicago Great West
ern has the reputation of 4 rate dsturber and the
announcement that this road had been ACQUIRED bv
any Of the larger interests would add to the value
OF the securities of railroads generally In the
Northwest.
CANADIAN PACIFIC.-Canadian Pacific sold ex
rights yesterday. opening a basis of 12Sk which
would make a decline of only q, figuring the
rights at 81 In the day the stock failed to be
pressed for sale in other issues despite the
weakness of the London market in which Cana
dian Pacific is an active favorte. It's net loss for
the day was 1Sl points while the rights sold
down IS. The 500 shares also firm par
tcularly the preferred. which closed at a net
gain of points. There is an extremely small
! amount Of 500" common and preferred in the
market the greater part of the issue is held by
the Canadian Pacific and investors, and as a good
| demand for both classes of stock has developed
prices advanced easily
FRISCO PREPARING ITS 1903 NOTES.-The St
Louis and San Francisco Railroad Company gives
notice to the holders of the company's promissorv
notes, dated December /. 1893 aggregating 500 OO0
that it will exercise the option of prepayment and
will pay said notes in full, and all accrued interest
on November l. 1904
HEAVY BANK CLEARINGS.-Ean cIearings
in this city yesterday amounted to 1916 3n DTS an
increase OF 1853 1851, compared with the same
day year In Baltimore. Boston and Phila-
dephia the increase amounted to more than
81 100000
ELECTED TO STOCK Observation-Disclosures j.
Enrich. John w. Cornwen and W. p. CaIlaghan
OF New-York, and Richard r. Brown Of Pittsburg
were yesterday elected members Of the Stock
Exchange
COLORADO AND SOUTHERN'S EARNINGS
For the third week in October gross earnings Of
the Colorado and Southern show decrease from
the same period year ago of SO 49, making from
July a decrease % $213 500
500 LINE EXTENSION.-The 500 line is
going to tap the rich wheat country in North Da
kota near the Canadian boundary. crossing four
feeders of the Great Northern. Its new line will
pass west from Thief River Falls MIMI about
thirty miles north OF Grafton and will tap soma
big wheat country in Walsh. Pembina Cavalier
Towner and Roette counties y. D. Al
though the cutting into Great Northern territory Is
so marked as TO make il the feature OF the extern
sion, the 500 line officials do not regard il as an
INVASION The settlers brought in by the 500" It is
believed SO developed the northeastern portion OF
North Dakota that the Great Northern viii not
necessarily he affected In a few wears IL is be-
leved' tonnage sufficient provide for all lines
entering II will originate in the country. This
western extension from Thief River Fails is In ad
dltlon - the Soos new line. under contract north