New-York tribune., 1905-08-30

WALL STREET AND EXCHANGES.
FOREIGN TRADING-Foreign houses dealt in
l5.o00 shares in the local market all purchases
In London Consols We're = per cent higher at s01s
ana both Russian and japanese bonds were favor
ably influenced by the peace prospects The min
ing market quiet and copper stocks frrner
This being the first day Of the fortnighty settle
ment transactions after midday carry credit I'D to
September H. so that Of the advances about
represented the contango. Money was in fair de-
mand, and is likely to continue throughout the
week on the requirements for the settlement and
the end of the month.
MARKET GOSSIP-The Gates following were
credited with the rally in Louisville. Traders how
ever. think the technical position Of the is
stronger than II was Last week most of the
active commission houses were carrying some Of #
Tor customers who thought IL had not had the
advance ii was entitled to. Some Of these hold ngs
have been shaken in and the stock is easier to
manipulate Herz1eId & Stern were quite sub
stantal buyers Of stocks the first decline. Their
foreign connection probably accounted for their
prominence in the advance in Canadian Pacific
An interesting rUmor current in the Street is
the effect that William Rockefeller. James still
man and A. Henze met IN Europe and are good
deal closer together than they ever were before
The story is given for what it is worth Halle &
Stieglttz and Charles @. Gates & Co We're res9On-
sioIe for the forenoon advance in Erie to a large
extent. Both houses bought and bid up freely,
finding more shorts, especially on the floor. than
might have been expected b L. Smyth & Co
were reported as considerable buyers of Anal
gamated Copper This is buying the traders are
generally disposed to follow especially if they
convinced fro the action of the market that No
26 Broadway is selling stock under cover OF
such strength. 1t Is said that certain New England
bucket shop interests covered some shorts put out
Friday japanese 4l3s- and particularly the old
issue. showed marked strength the definite
announcement of peace. Their security would be
considered good on the value Of the tobacco mon
opoly. even if the negotiations had failed. but
peace basis the foreign banking houses are buy
ing the issue at par w. l. Stow & Co. quite
large buyers round the room. Wolf Brothers also
were among the heavy purchasers on the peace
news. taking among other stocks a large block
OF Steel common, which made up for the rather
heavy prOdttaking sales by the same house in
Erie. The Western element seemed be getting
round the bull side again A canvass of num-
ber of active commission houses shows that they
are uniformly advising their customers 10 buy on
the assurance of peace in the Fax East. No nerv-
BUSINESS is felt about the money situation. and the
Russo-Japanese treaty is generally regarded as
clearing way the only serious menace TO the mar
ket.
SOUTHERN PACIFIC CONSOLIDATION.-At a
special meeting of the stockholders of the South
ern Pacific Railroad Company. held at San Fran
cisco on Monday it was voted to Increase the cap
ta stock to Sl60000OO0 of which S2s 3O7 $50 Will
issued in taking up the present stock of the con-
stituent companies. namely the Southern Pacific
Railroad OF California. the Southern Pacific Rail-
road of Arizona and the Southern Pacific Rail-
road of New-Mexico. which are TO be consolidated
The stockholders also authorized the proposed first
refunding mortgage for $3.50 600 the purposes OF
which have been published
The action of the Southern Pacific Railroad COM
pany stockholders at San Francisco yesterday in
authorizing an Increase of the capital stock of ap-
proximatey SCI OO0OG0 to s6o00000O and also voting
to use SIPS SG7S5O of the stock for taking up the
present stock of the Southern Pacific Railroad of
California, the Southern Pacific Railroad OF Arizona
and the Southern Pacific Railroad of New-Mexico
consolidating the companies into the Southern Pa
cifc Railroad Company. was matter of formauty
to conform to technicaHties OF the law
PIG IRON CERTIFICAT CATES-ReeuIar pig iron
certificates at the Produce Exchange this morn
ing opened dull with asked prices unchanged from
last night The foundry grade irregular. No
sales of either recorded. Quotations on th7
calls follows: ResuIar-Cash and August
SIS 70 asked; September. sf5 so asked: October
SIS 80 asked: November, December and February
SIG asked. Foundry-AUgUst. $15 f0dS15 -: Sep
tember. $15 400 S15 so: October $15 75QS15 90: No
vember. So SO0$16 December. $15 S50S16. Febrll-
AIRY. S16GG16 %. On the second call regular vas
unchanged. whiie foundry was unchanged to A
points lower. Again there was a lack Of sales in
either grade. Quotations on the call were: Rer-
ular-Cash and August SIS 75 asked SeDtenber
$15 50 asked; October. s1&9e asked: Noven,ber
December and February. :t6 asked Foundry
August. SIS 409$15 75: September $I5 l0dS15 80.
October. SIS 750$15 80; November SIS S0asls: De
cember, SIS S5Q16; February. sI6G$16 %
COPPER PRICES HIGHER.-Copper ouotario,s
up lsc all around Lake aGd EIectrolytic 1s1. M
l6s4 and Casting 1915 to 16&. This makes an ad
vance of 94c in week Prices are at the highest
level in three years
MONEY FOR CHICAGO-The Sub Treasury has
transferred for the banks $4,000 To CHICAGO 7-bi,
makes 100000 TO Chicago this uoath IN six lots
of $5C00C0 each-on August H. y. -. % IS and %
AMERICAN SUGAR.-Arrerican Suear dire,to~s
have declared the regular quarterly dividends Of
Is per cent en- both the preferred and common
stocks