New-York tribune., 1904-09-23
4.1sO Total sales.
WHEAT.
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
upward Of $1,000 shares in the local market, selling
on balance. Purchases Of Southern Pacific by for
eign houses represented the efforts Of stock market
manipulatOrs on this side TO bring about higher
price Southern Pacific by creating the impress
sion that foreigners buying this issue. In the
London market prices for all securities were weak
The weekly return Of the Bank OF England was
favorable. the percentage of reserve to liability
showing an increase as compared with the pre-
ceding week. The bank made change in its
minimum rate Of discount
COTTON CROP EXPERTS DISAGREE.-Theo-
dore Price states that his advces do not indicate
anything than the average crop deterioration
IN cotton in the last month. and that he believes
that the October government report will show the
best October condition record. and a crop abuu-
dainty equal to, X not in excess Of the worlds re-
quirements At present prices. On the other hand.
Daniel J. Sully has issued circular. in which he
estimates this years cotton crop at only looOOoOO
bales, and he believes that the prospects favor a
serious shortage in the coming season
ONTARIO AND WESTERN PROXIES-It IS Of
hcally announced that the present management Of
the New-York. Ontario and Western has received
proxies representing So 600 shares out of a total
OF about $4,000 shares outstanding 1t is understood
that the new financial plan will be submitted 20
the directors at their meeting next week.
MOVEMENT OF MONEY.-The local Sub-Treas-
ury transferred for the account the banks in this
city $4,000 to New Orleans.
SHARP DECLINE IN STERLING.-Sterlins ex-
change was weak yesterday. the rate for demand
declining well under that Of the preceding day.
amounting to 20 points. more than y cent. At
this level the market Is about half cent away
from the gold importing level. A number Of bank
ing firms put finance bills. while borrowing by
local Stock Exchange houses in London was re-
ported The foreign loans were negotiated at rates
under the New-Yoris quotation. and were the nat
result OF the decline Of sterling this centre
and tho belief that current loan bills could be
I cred a profit later in the
PRICE CURRENT ESTIMATES.-"The Price
Current says: Frosts have not damaged corn
Corn at harvest likely to be 90Oo0oO0. PTacti-
cal certainty OF 2SoOOOoCo0 bushels. even in event
OF severe frosts Oats crop. S75O00C00. Some prob
ability OF wheat crop exceeding 5iOOoOoOo bushels.
Good progress generally fan planting
NEW MEMBER OF THE STOCK EXCHANGE.
IL Townsend Davis. OF Buffalo. elected a
member OF the Stock Exchange yesterday and
will make his headquarters IN New-York. becom-
ing an active member
APPLICATION TO LIsT.-Appucation has been
made TO the Stock Exchange by the st. Louis
Iron Mountain and Southern Railway Company TO
list A766,OoO River and Gulf Division first mort
gage per cent thirty-year bonds OF 1888.
NO AMERICAN CAN READJUSTMENT.-Of
GERS of the American Can Company deny tho Chi
cago report that reorganization OF the company
is contemplated According to the report. the
common stock is to be retired.
BONDS READY TO DISTRIBUTE-The Mercan-
tile Trust Company gives notice to holders OF It's
interim certificates representing first and second
mortgage bonds of the Wabash Pittsburg Terminal
Railway Company and of the common stock OF the
Wabash Railroad Company that IL has been An
formed that tho engraved bonds mentioned will
be ready for distribution to the holders of the trust
cOmpany's certificates presentation and sur
render of these certificates at its Office. on and
after October 8. Non-interest bearing scrip will be
issued for fractional amounts of bonds the same
being exchangeable for bonds with all coupons at
tached when presented In amounts OF 81 900 or any
multiple thereof Certificates for common stock OF
the Wabash Railroad Company will also be ready
for distribution at the same time and place upon
presentation. of course of the interim certificates
! representIng the same.