New-York tribune., 1905-03-04
WALL STREET AND EXCHANGES.

FOREIGN TRADINC.-Weakness in the foreign
markets was responsible for heavy selling OF Amer
lean stocks in the local market for European ac-
count London and Continental markets were af-
fected by alarming rumors from st. Petersburg
regarding the home situation and the position OF
affairs in the Far East. and government oonds
generally lower. especially Russian issues.
The Canadian stocks, including Hudson's Bay.
were as a. rule strong Money was in good de-
mand IN London but no important change in dis
count rates was reported.
MARKET GOSSIP.-There was a good inquiry for
United States Rubber, and especially the preferred
but there was very little stock In the market
There IS satisfactory for saying that the ex-
ecutive committee has already decided to place
the preferred stock on an per cent basis early In
April, while the surplus shoWn will be more con-
siderable than the market has hitherto expected.
1t IL said that the holdings Of Standard Oil in
terests in American Sugar. which known to
be considerable. have been largely added to in the
recent past. Lower Wall Street seems to expect a
move Of some consequence next week if other mar
ket developments are favorable. The uptown crowd
has been testing the market with experimental
short sales protected by stop loss order They
would probably turn bulls on any sharp recession.
but so far admit that they have not dislodged
much stock Commission houses. taken whole.
are carrying stock to anywhere near their ca
pacity or the extent of their margins.
TENNESSEE COAL AND IRON.-The disputed
question of the ownership of Tennessee Coal and
Iron will be settled definitely May .. The an
nuaI meeting viii be held at that time in Tennes-
see, and the two claimants will vote their respec-
tive holdings. The Alabama Consolidated Coal and
Iron syndicate, which claims to have a majority
of Tennessee Coal and Iron certificates, announces
that it will to abolish the bylaws classifying
directors and elect its board. The Wood
ward element will oppose any change.
MOVEMENT OF MONEY.-The reported move
nents Of currency this week indicate a loss in
cash held by the banks of 50 100. They received
from the interior $4s75,4OO and sent to the interior
$4043lO0 including g, ,S31,O 900 national bank notes
sent TO Washington for redemption The gain from
the interior was SS22 800. The total gain the
interior, SSS23OO, and gold, Sl276,1OO. was
81 10S 400. Deducting this from the loss Sub
Treasury operations proper, S50O9 100. the net loss
s2,906700.
800" STOCK IN LIMITED sUPPLY.-It may
be stated excellent authority that the floating
supply of both 500 preferred and common is ex-
tremely small all but few thousand shares of the
40 per cent not held by the Canadian Pacific being
held either for investment or for figures well above
present quotations. One man alone within the last
six eight months has taken 10000 shares out of
the market for investment.
RAILWAY STEEL SPRING.-The directors or
the Railway Steel Spring Company have declared
per cent on the common stock payable April 3.
This is the rate that paid last year. The
following officers reelected: President. Ju-
us E. French vice-president w. H. SiveCthorn;
treasurer, J. c. Beach; secretary. NJ. B. Parker. T.
L. -Aapnian. jr.. and A s. Henry were elected as
sistant secretaries
G4,AIN EXPORTS.-"Bradstreet's reports the
exports Of wheat, including -four for the week at
9O7 1886 bushels against O22 week and 16I OS
last year. Since July l. 43f12,406 bushels against
10S 4S9 Corn, 4171279 bushels. against 3S27OS1
week and 169O.T53 last year. Since July l. 46473
232 bushels against 80 94O,2SI last year.
FEBRUARY CLEARINGS. - "Bradstreet's' re-
ports New York City's cearings for February were
S7l1S .261 gain of 60 per the low wa
mark total of February a year ago. and of 265
THol,r1,
February total recorded. Outside of New-York the
clearngs ninetyone cities aggregate So 4S I24 02
u decrease of IA per cent from January but in
crease Of rs per cent February year ago.