New-York tribune., 1905-07-26
WALL STREET AND EXCHANGES.

FOREIGN TRADINCf.-Arbitrage houses traded
both ways but their purchases exceeded sales bv
probably $4,000 shares. There was some selling for
foreign account in Ontario and western Baltirnors
and Ohio and the United States Steel issues. but
there were also purchases in the Steel stocks
Union Pacific and the coalers There was rather
nominal market the curb and most OF the Lon
don traders went home soon after the close OF their
market.
MARKET GOSSIP.-The United States Steel Is
sues showed early strength in anticipation Of tho
statement and the preferred dividend. Traders
say the Morgan following seems always willing to
take the stock The room short interest Is prob
ably small. but there is long standing bear ac-
count Of some size. particularly in the preferred
stock. Both preferred and common easy enough
TO borrow Amalgamated Copper was helped IN
the early trading by the strength shown in Rio
TInto in London. Trade advices are By far ths
strongest bull influence. but the technical legal
advantage gained over Heinze in Montana probably
influenced the buying. Traders liked the early
buying OF Union Pacific. which by such houses
P. j. Goodhart & Co and Asiel & Co. whoss
position Is usually considerable influence with
the professional element.
There Is good reason for saying that the Brady
following has Professionally decided let Brooklyn
time come. and possibly until after the munich
pal election.
The Hoffman House clique seem to expect gar
eral advance in August but are apparently Look
ing for some setback before It starts. Thsy
testing the market with short sales IN a number
OF the active issues
NJ Morris was conspicuous In bidding Up Steel
common to s44. There general conesnt-a-
tion OF strength those issues with the Idea that
a movement in them might stimulats the much
needed interest in the rest OF the list
Keech. Loew & Co. were reported as substantial
buyers OF stocks round the room and particularly
In Pennsylvania and St Paul Traders guessed
that this was the covering OF shorts.
The movement In Canadian Pacific IS ascrtoed to
the putting out OF a short line Of stock on Thurs
day and Friday. The principal bull account still
seems TO be in Montreal or London
DIVIDENDS DECLARED.-The directors OF the
American Hide and Leather Company have de-
clared a dividend OF per cent on the preferred
stock This is the same rate as that paid three
months ago. The directors OF the Twin City Rapid
Transit Company have declared the regular quar-
terly dividend of IA per cent on the common stock
payable August 10
AMERICAN HIDE AND LEATHER-Aeter the
dividend meeting yesterday OF the directors OF tho
American Hide and Leather Company a statement
given out. the effect that all OF the directors
had been present and voted FOR the declaration OF
the dividend, which had been earned, and adding;
THE president says that to-day the cOmpanyS
accounts payable $4,000 and the entire amounts
importation credits are $3.50 Cash and notes
receivable over 100000
NATIONAL BISCUITS POsITION.-In the face
of much bearish gossip on National Biscuit
stocks attention is called TO the fact that that
company has something over 10000 loaned
call in Wall Street. The Chicago banks. parricu-
larly the trust companies. hold large balances IN
favor OF the company The stock recently said %
have been Hquidated for Sioux City interests was
hquidated last winter. IL is declared
SOUTHERN RALwAY.-The earnings Of the
Southern Railway for the third week in July
amounted to S2OSSS. increase OF $50 hs over thu
same period year ago. Since July l the earnings
amounted to s.. 7.SSs. an increase OF S55.IZ2
A FINANCIAL DIRECTORY-The 19O5 edition
OF the Financial Red Book OF America" j-se
issued. is substantial volume Of nearly i've hun
dred pages. containing carefully selected list OF
about eighteen thousand persons OF wealth and
prominence throughout the country Tho eook
should be OF considerable value institutions and
individuals desiroUs OF reaching investors Il Is
published by Orlando c. Lewis s Co.. this city
BACK FROM THE FISHING TRIP.-John Lam
bert. Isaac l. Efwood and several other members
OF the Gates Canadian fishing party have returned
70 this city John W. Gates Is stil in Canada 6us
Is expected home within the next few days.