New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-29

lands minimum rate OF discount remained at per
cent. although the banks holdings showed a faiiins
off as compared with week ago.
STOCK LOAN OUOTATIONS.-Loan quotations
were: Amalgamated Copper. Anaconda American
Ice Brooklyn Rapid Transit. Erie common MIS-
souri, Pacific Peoples Gas. Reading first preferred
Rock Island Southern Railway preferred. South
ern Pacific Sugar Tennessee Ceal and Iron, United
States Steel common United States Leather pre-
ferred Wabash preferred. Snelters common ana
Republic Steel common. per cent; Atchison COM
mon and preferred Erie first and second preferred
Louisville and Nashville. Manhattan. Norfolk and
Western Metropolitan Street Railway. Union Pa
cfc common and preferred. United States Steel
preferred Baltimore and Ohio common. Canadian
Pacific Consolidated Gas and Delaware and Hud-
son. s.a1 per cent; New-York Central, Pennsyl-
vania and st. Paul. 1zQ&4 per cent; Western
Union Shelters preferred. Republic Steel preferred
and American Locomotive preferred. fiat
ESTIMATE OF NEW COTTON CROP-Theo-
dore H Price announces the result of an investiga-
ton made by him into the condition of the cotton
crop as of the date of July 20. 1904 He received
1903 replies from 52S cotton producing counties.
which counties produced last year about IS cent
Of the entire crop The estimated average oond-
ton of the crop as reported is 9ls. The indicated
total production. assuming realization at ma
turity the present crop prospect, is 12O27, 9Sl
bales The quantity of old cotton actually unsold
is LOG 9S6 bales.
EXCHANGE DECLINES.-The feature of the
financial markets yesterday the sharp break
least precludes gold exports. According lead
ing authorities the exchange market. a consid-
cradle amount of long bills has been offered and
purchasers inclined hold off with the expec-
tation of still lower rates for next week. Demand
sterling sold $3.50 to the buyer for Wednesday
next.
FOREIGNERS BUY PENNSYLVANIA. - The
foreign demand for PENNSYLVANIA. which pract-
calIy ceased couple Of years ago. has again as
sumed some proportions. and about 1900 shares Of
how baar chi -oIa Tho
last couple of weeks.
GOLD FROM Observation-Disclosures have been
received that 81 10000 Australian gold which
due to arrive at San Francisco by the steamer
Ventura August will be deposited in the Sub
Treasury at that city for telesrsphic transfer to
New-York
ELECTED TO STOCK EXCHANGE-James F
Pierce. jr. whose headquarters will be at the office
of Chauncey & Co. elected member OF the
Stock Exchange yesterday.
APPLICATION To LIST-The P1ttsburg. vir-
ginia and Charleston Railway Company has applied
to the New-York Stock Exchange to list 100000
first mortgage per cent bonds of 1913.
SOUTHERN PACIFIC-Southern Pacific stock
sold ex rights yesterday. closing at net gain Of
is. The rights sold at pa to 2ls and on the curb
the preferred sold (wheR issued) at decline OF
pa points at 11212
PREFERRED STOCK ISSUE,-The books of
the Southern Pacific Company were closed at the
end of business yesterday preparatory TO the
issue Of the so 900 0uQ preferred stock recently au
thorized. For the next three days the clerical
force In the conpanys New-York office will be
engaged in making list Of the shareholders Of
record yesterday who viii be entitled TO subscribe
for the preferred stock It IS expected that
circulars giving details regarding the subscriptions
will be mailed Monday the stockholders.
PAYING FOR THE CUBAN BONDS.-Bonds
for the Cuban loan recently subscribed here are
expected to be ready next week at which time
fnstalment OF one-third OF the loan will be
payable by Speyer & Co to the representative OF
the Cuban government here. The instalmeut will
call for between $4,000 900 and s1 10000. and repre-
sentativeS OF the subscribing bankers express the
belief that gold exports Cuba OF about half that
amount will follow. The bankers reticent as
10 the dates for payment Of the rest of the loan
but they affirm that the operations will extend
over considerable period of time. and that coun-
ter operations in the time on commercial ac-
count will modify the requirement for gold in
combating the remittance.