New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-23
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-F>oreign houses go "
1900 shares in the local market Selling W. 80.
IN London Japanese bonds showed 'eIs -
strength. but consols were a shade lower Foreign
1870 e+,u regard the money situation as the
kev to the position and are not hopeful for .ne
r,oros,+ They believe New-York Will get so'VV''-
Ooo IN gold out of the open market IN LoHuoi -
week. hut think we shall have to Did up TOT 'Ne
metal while IN advance in the oank rae
Increasingly probable. The best features III toli-
don are +he investment demand and the conuIlloi
- general business which is good, especially IN
the iron trade. .
MARKET GOssIP-Huhn, Edey & Co were the
principal buyers Of Brooklyn Rapid Transit ana
with c. NJ Oelrichs bid up the stock on the morn
ing advance. The old story Of the acquisition o.
the Coney Island road repeated, but receives
no Endorsement from houses which should be wei!
informed A A. Housrnan & Co. were the olgsesl
BUYERS Of Southern Railway, taking at leasI IU''"
shares Of which c. G. Greenway was the principal
seller The old story of the retirement OF the pre-
tsrre6 was revived burt not treated seriously AS
usual all the Southern Railway bought was SAID
to be going into Morgan boxes. The entire Hodl-
ing supply has apparently gone there ABOUT I'VE
times over in the last few days 1t goes on anu
comes on again like stage army. There Is no
+1, tor sale except the holdings Of the late Hall
ear+en pool The weakness in Canadian Paclh'
was directly due to the foreign selling All ID
madam stocks have been bulled in London. with
success in some cases, but Il has been heces9a4S
70 hlIV a
so extended that foreign houses are nervous anu
have sold a good deal here for London account III
anticipation of the settlement on TUESDAY 1Hele
was very respectable buying Of Contra! LeaIne'
common and preferred, nottceably oy n y VIM
10, E GO and John H Davis & Co. The Valentine
CLIQUE which practically controls the situation mas
beer letting the stock take care OF itself IN the
market and so far there has been no manlpuIdlion'
Wolf Brothers were again sellers OF stocks rouhd '
room They have executed large huhUer u
selling orders almost every day this week. III t"7
arIv, afternoon the market hardened, mainly owing
70 the efforts Of the bull pool in St. Paul. when
was the leader for the moment; although nulnoer
or stocks like Reading and Louisville showed tlat
the floating supply is extremely limited one oI tue
stories current on st. Paul was that recent IN
snection ~ the list Of stockholders had SHOWN
something under $4,000 shares in names Of wan
Street houses This would indicate a hoating sup-
plv Of less than per cent of the common SUCK
It would probably be safe to say that haIr dozen
houses could be found carrying more than TINS
among them to say nothing Of stock IN loans AT
w. hawks At the close the market was largely
Influenced nv the advance in Louisville. but there
was good deal of selling the rise. especially py
conservative houses who did not greatly oeleVe IN
the movement. Arbitrageurs SOLO STOCK Overnight
believing that the London market would not re-
spond The buying in Louisville was thousnt 10
he practically all traceable to the Gates following
who were handling the stock very much as they
did the general market in September lSVS
MOVEMENT OF MoNEY.-The reported move
roents of currency this week indicate loss IN cash
held by the banks of $S1299oo They received from
the interior S4iOSS,COo and sent to the interior
e. 429 900 including transfers through the Sub
Treasury of 100000 to st. Louis, 100000 to Cincin-
natl 100000 TO New-Orleans and a.so0ooO national
bank notes sent Washington for redemption.
The loss TO the interior 81 800 Receipts Of
new gold were s22O2 500. namely: Gold imports.
$500 900. NeyYork Assay Office checks. $4s 700; San
Francisco Mint and Geographic transfers, $SS74o0
and Seattle Assay Office checks. 01640o. Ordinary
disbursements by the Sub-Treasury were S1s,1675O0
Payments by banks to the Sub-Treasury for Gus
toms, internal revenue, per cent redemption fund.
etc. were $19 1Os 900. The loss on Sub-Treasury op
erations proper $685. 800 The total loss to the
interior and Treasury 1888 400 Deductng
the gain by gold of s2,2O2.5OO. the net loss
50. 800.
HEAVY BUYING OF PIG IRON-Rogers. Brown
& Co.. in their weekly circular on conditions in the
iron trade. say:
a heavy buying movement in pig iron is now
daily, sales are we'll distributed through all mar
kets, and all grades OF iron are involved in the
correspondingly strong. and quotations in all quar-
tiers have been advanced from so cents to 81 a ton
their requirements for the first half of 1906 and
paying in many cases substantial premium over
the quotation for current deliveries. Independent
steel makers are having their share of the
Eastern PennsylVania haHe bought several found
lots Of basic this last week at prices ranging higher
The scarcity Of high grade foundry irons for
vancing figures 80 cents to 81 at clip. Lake fur
naces in particular have booked heavily in
terest alone selling between 10000 and 5000 tons
this week. Prices quoted freely last week be-
ing withdrawn. and sellers will only protect Old
schedules business TO which they are already
committed
NEW COTTON EXCHANGE MEMBERSHIP
following have been elected members Of the Cotton
Exchange: Addison H. Hough, OF Cleveland. Ohio;
". C. Craig OF Vicksburg, Miss: Henry G. Smith
and Isaac N Sails. OF New-York
APPLICATION TO LIsT.-The Tennessee Coal
and Iron Company has made application to the
Stock Exchange to list s35OOOO general mortgage 5
per cent gold bonds dated January l. 1901 and pay
able in 1881. These bonds have been sold 10 REIN
burse the company for moneys paid out from the
treasury for improvements and betterments.
PENNSYLVANIA BOND SYNDICATE. - The
Pennsylvania sls per cent convertible bond syndi-
cate has called for the delivery OF bonds to the
amount Of per cent account of sales made
This makes per cent of the whole amount OF
bonds sold and delivered The syndicate is required
under the present agreement 10 pay the Pennsyl-
vana Railroad hnal payment of 30 per cent on all
unsold bonds between September % and 50.
THE LARGEST BOND EVER wRITTEN.-The
>-...a..t c,,rat,, C.ou7Dauy hal inst closed