New-York tribune., 1905-12-27

WALL STREET AND EXCHANGES.
FOREIGN TRADING.-As yesterday Boxing
Day In London, which is observed as a holiday
there, there business on the Stock Ex-
change nor was there any trading on the curb in
Americans. Although the London markets were
closed, 1t believed that foreign brokers had
sent orders for execution IN the local market
MARKET GOSSIP.-Although Third Avenue was
strong on very small sales, the Metropolitan IS
sues were decidedly heavy. The rearrangement OF
the capita1 is expected involve some modifca-
ZION of the present guaranteed John W. Gatess
prediction made before the opening that Ana
conda would sell at $50 during the day and at o."
before the end of the week is worth putting on
record as the first half OF It made good The
western element is also very active IN Anal
gamated Copper at present Among the other large
buyers of United States Steel common. W. L. Stow
&. Co.'S purchase of 10000 shares attracted atten-
ton This house gets credit among the traders for
cooperating with the Gates following IN their
various campaigns. The wild fluctuations in Ana
conda which at one time showed advance OF
5S points from the low figure Of Saturday Is
ascribed to urgent buying by shorts The new
discoveries of the metal quite unexpected by
either bears or bulls. and have brought in class
Of buying which the former did not expect There
has been also sone urgent covering of shorts on
account Of the London settlement beginning I'M
paediately after the holidays. United states steel
showed rather more activity and strength than 1t
=
and some fairly heavy foreign purchases were re-
ported also although in the absence Of a Eondon
market there no arbitrage- The snarp up
ward movement IN the copper issues, including
ArnaIeamated and Anaconda. the Stock Ex-
change and United Copper in the outside market.
can be traced TO the big strike at the Anaconda
mine Later developments and the statement by
experts that the strike IS one OF the most inpor-
tant If not the most important Of its kind ever
made In North America, has induced heavy buying
oN% %he e. and
Gently did the inside interests to full reah-
cation of the Importance Of the Anaconda strike.
Perhaps the largest individual buying OF United
States Steel was by Ladenburg, Thalmann & Co,
who took upward of 10000 shares. Without a Lon
don market the origin was, Of course merely con-
1ectured, but traders thought the buying was for
foreign account. The buying OF Anaconda and
Arnalgamated has been pretty we'll distributed.
Houses that are credited with doing considerable
business for the Annalganated group among other
firms have been large buyers Of the coppers c.
G. Gates & Co. and Marshall spader & Co. have
been buyers of Anaconda J. s. Bache & Co., LIP
per & Co., Housnan, Pepper & Sternbach, H. D.
Lewis Atwood Violet & Co., L. Kerr and J. b
Russell were among the largest buyers Of Anal
gamated Traders attached Importance to some
substantial buying of Denver common by a house
which frequently executes some orders for power
full section Of the Standard Oil clique They have
not been represented in any Gould stock for long
time past. The heaviest buying in Canadian Pa
cifc was by E. and C. Randolph, who took up
ward Of 10000 shares. Sheffield & Mccullough also
bought a good deal OF the stock during the day.
There seems TO be another and perhaps q rather
responsible bull element IN the market than
there was during the summer.
AMERICAN WOOLLENS NEW DIRECTOR
George F. shepley. Of Providence, yesterday was
unanimously elected director of the American
Woollen Company, in place OF James Phillips. jr..
of New-York, resigned. Mr. Shepley is a former
Governor of Rhode Island vice-president OF the
Manufa cturers' Trust Company of Providence and
a director in various other financial and Industrial
institutions.
ANOTHER CORN EXCHANGE BANK
B4.ANCH.-The. Corn Exchange Bank has decided
to open another division OF branch at Flushing
Long Island. This will make the nineteenth branch
of the Corn Exchange Bank located in the city of
New-York.
CFnCAGO's BIG CIEARrNGs-Ths Chicaxo
clearings last week were $3.50 62S which Is the
highest amount ever attained for single week IN
the history OF the Clearing House.
NEW JAPANESE TREASURY RIILS-CebIe
advices to the consulate general OF japan in this
city state that the japanese government has issued
Treasury bills amounting to 100000 ven zap
proxImately s50oO0OO to convert the October issue
OF Treasury bills, and has delivered them to the
Bank of Japan. The cable states that the money
market IN Japan is very easy.
BIG DIVIDEND DISBURSEMENTS -CouopetAn+
estimate the dividends OF Industrial
concerns to be distributed in January at s26 5s1 800
increase OF $S292450 over the total Of January
1904 There not many increases OF Importance
in rates of dividends. but many concerns are now
on the dividend paying list that did not figure in
last years table
SCHWAB Is OPTIMISTIC-When Charles II
Schwab was asked what he thought of the steel
situation he replied: THE steel situation is sounder
than ever before in history. and the outlook ex-
bright. Earnings are large and pres
ent prices for the United States Steel stocks justi
fed"
COLORADO FUEL AND IRON-The strength |
displayed by Colorado Fuel and Iron stock is he
lieved to be due 10 the fact that the COMPANY ia
either now getting is about to get from its ov
properties all the it needs This will eliminate
Importation from Lake Superior and cut Off |!
large expense in the manufacture of iron ora a. |
forms for iron The Sunrise properties. owned nv, |
the company. have been well developed and ore ts
ready for shipments in large quantities besides
supplying all the company's needs
ANACONDAS EXTRA DIVIDEND-The diroo
tors OF the Anaconda Copper Mining COMPANY to
day declared dividend of STA cents a share or AZ
the rate Of 50 50 snare year. or Is per cent pe
annUm This is an extra dividend The directors
also decided 10 pay dividends quarterly hereafter
Instead of serni-annualy. as heretofore The extra
dividend is payable-On January IS Books close ~,
January 6 and reopen on January l6. The previou.
dividend was 81 25 a share and was declared three
months ago. and on April p last dividend OF x |
cents share was declared. The dividends psId |
by the cOmpauV for SERIES ,,ea,s gotrc,,-.