New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-10
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses SOLD
stocks in the local market to the extent Of 2O0oo
shares In London consols were steady, and for
eign bonds showed a rather firmer tone. Copper
stocks We're stronger and there no feature
of Importance in the mining department The ten
dency rather toward narrower markets Money
was in very fair supply abroad and is likely 10
continue so, although rates should rule higher
The fortnightly settlement begins next Tuesday.
when there will be special requirements to be met;
and the extent of the outward movement of gold
from London cannot as yet be measured. although
the idea there is that New-York will want the
metal by November at the latest.
STOCK MARKET GOssIP.-The Boston houses
We're testing both Amalgamated Copper and Amer
lean Smelling early. and said they had no difficulty
in borrowing all the stock they wanted There Is
no doubt of bear account in both. but it is prob
ably not so heavily committed the bull account.
and the local end of it quickly and puts
out stock again rallies. Amsterdam Is still
picking up Missouri. Kansas and Texas preferred.
The movement in that stock has been irrespective
of general market conditions and all point TO the
long expected dividend. There are. however. pow
erful influences against the declaration. One of
the most active traders in Street has been in
vestigatng The position. so far pool stocks
concerned. He says there pools in Canadian
Pacific Reading and probably Union Pacific which
will find il difficult to carry stock II the banks
call loans. while the position in American Locomo-
tive and two industrtals is in this respect
decidedly weak The Newest bear crowd
selling stocks In the first hour 1t paid particular
attention to Reading A. Upper & Co We're fair
buyers of stocks. London was rather unexpected
seller OF stocks Arbrageurs reported no curb
market abroad and their transactions were in the
nature of evening up. Traders had expected buy
ing from that quarter but. ins Iead foreign houses
were sellers of probably 1900 shares in the first
half-hour and particularly Southern Pacific and
United States Steel AS the fortnightly settlement
begins on Tuesday. the movement TO reduce com
mitments is obvious.
THE COTTON OBSERVATION-DISCLOSURES 10 The
Financial Chronicle the total receipts OF cotton
for the week ended September reached l5i.lG
bales. against 1888 last week and 533S the previ-
week, making the total receipts since September
l. 1905 III ,i5l bales. against l55,957 for the same
period Of 1901. showing decrease since September
l. 1905. Is 494 bales Reports from the South in
dictate that rain has fallen In most districts during
the week, and that the precipitation has been mod
crate. as rule. Texas advices denote that In
portion of the State the drouth has been broken.
In some districts In Arkansas and In the Gult
States there complaints of rust. shedding AMI
Insects. and in others Improvement In cotton IS
noted. Picking is progressing. and cotton is NOV
ing quite freely
FOREIGN EXCHANGE CONDITIONS.-With
regard to the probability OF gold imports. c. Schu-
macher * Co. say:
The question 10 the price of exchange at which
tenihl4eak We think the Importation OF gold viii
pesHi peIoIe very long. We do not believe in large
m it IS al the present time. however. as Europe
'i ally raise It's price FOR goid and exchange