New-York tribune., 1905-11-15
MINING STOCKS.
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
10000 shares in the local market, all purchases
In London consols steady, and Russian bonds
shade harder, although still very heavy Jap
was featureless. but copper stocks were frmer-
So far as the money market is concerned the situa
ton in London is clearer. The settlement is now
arranged for, and from the movement of bar gold
and other customary indications no advance in the
bank rate is feared. The German money market
situation seems we'll in hand and the uncertainty
in Russia is the only disturbing factor in the Euro
pean markets
MARKET GOSSIP.-Although money was stiff
enough in the first hours trading it noteworthy
that quite number of brokers were paying off
loans This would indicate that very substantial
amount Of stock had been lquidated. Several ac-
tive brokerage houses reported that they actu
ally lenders of money. and would be very glad to be
assured of firm rate over per cent on day to day
loans UP to the end of the year. 1t seems likely
that a determined effort will be made to advance
the copper stocks after the money position
clears. Two heavy blocks Of stock sold during the
first hour, of 1890 Union Pacific and another
of 20 900 Pennsylvania suspected by traders on
the floor be for Jacob Field, and it was even
suggested that ne taking the short side of the
market. This is, of course. floor guessing, and is
given for what it is worth. Charles G. Gates & Go
quite heavy sellers of stocks in the early
trading. They conspicuous In the United States
Steel issues and Southern Pacific AS the West
ern houses have been active the bull side. the
idea is that there are a number Of small Western
accounts which realized any rally. Tho
strength of Missouri. Kansas and Texas attracted
considerable attention. 1t IS genuinely
the loan crowd in spite of the high loaning rate.
and is in demand also in London. London n
buyer and is probably short of the stock, while it
is not unlikely that the Amsterdam holdings arc
much reduced. Hill brokers are said TO be picking
UP all the stock Howard rockingham. the money
broker. bid for 100000, and kept up the money
rate r the forenoon when it looked like easing off
The inference on the floor is that bankers do not
want lower rates for the moment. A. Upper & Co,
who were heavy sellers in the forenoon and on
Monday. bought little stock, noticeably in United
States Steel. Missouri Kansas and Texas and
New-Iork Central. Morgan brokers' were credited
with good deal of buying during the day, both d-
rectly and through London. 1t to be one
Of those open secrets which might well be
shouted from the housetops this banking inter
est is the principal mainstay Of the bull position.
This may possibly for the fact that num-
ber of houses heavily committed the bull side.
hose supply of time money all in have been
able to borrow on call.
THE JAPANESE LoAN.-The United States
will participate in the proposed s25o0ooC0o per
cent Japanese loan, which will be issued partly
for converting the external per cent loan and
partly for the redemption of the internal loans to
the extent of about one-third of the entire issue
A representative of an international banking house
says the work of financing the loan will be slow
until money conditions begin to show i'm
provement
READING-LEHIGH NEUTRALITY-SUSPICIOUS. re-
ports that in regard TO increase in dividends
by the anthracite coal stocks it be said that
it is not in contemplation The general opinion
in high anthracite circles is that the wisest
now is to make all preparations, financial and
for contingencies which happen
next year. If the settlement with labor in April
should be madc on favorable terms. there is little
doubt that before the wear 1906 ends the IehtSh
ho ircra ss6
READING SCARCE IN LONDON.-A back
variation of Cd a share paid for Reading
common at the London carry Backwarda-
ton means the premium charged the seller when
he bear seller continues his contract to the next
fortnigiltIy settlement 1t is charged only on
stocks that are scarce for delivery. Sixpance a
share would be equivalent !" a premium III New
York of about 1872.
DENVER AND RIO GRANDE.-Notfce has been
received by the Stock Exchange of the increase |
Of the preferred stock of the Denver and Rio |
Csrande Railroad Company from S44 10000 to Sc.
n0O0o0
RECORD PRICE FOR NEw-oRLEANs COT !
TON EXCHANGE SEAT.-Atwood Violet. of this |
city. has bought membership in the New-orleans |
Cotton Exchange for slo,650 tie highest price on
record.
BANK CALL NOVEMBER s-The Controller of
the Currency has issued call for the condition OF
banks as of November 9.
GOLD FROM CANADA.-There deposited at |
tie Sub-Treasury yesterday Canadian account |
y 10000 gold in exchange for gold certificates
TRUST COMPANY OF AMERICA TREASURY. |
II Is. Fonda who recently resigned as assistant |
cashier OF the National Bank of Commerce. Will !
o-Gay assume the treasurership Of the Trust Com
oany of America
MONEY FOR NEw-oRLEANs-The sub-Treas- /
Iry transferred yesterday for banks 100000 New
Orleans
DIG lPoN CEpTtEtcAYEe