New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-07-28
WALL STREET AND EXCHANGES

FOREIGN TRADING-Foreign houses dealt in
only 5000 shares in the local market. buying on
balance. In London consol5 were notceably firm
at 9Oss an advance OF 3-16 per cent the strong
tone in the foreign bond market continued to re-
feet anticipations Of peace Copper stocks were
rather easier. The settlement proceeding with
out incident The Bank OF England did not change
its rate and made rather cOlorless return, show
ing about the usual proportion Of reserve to la
bilities for the time OF year. Money was IN only
moderate demand for settlement purposes. and
should be very easy throughout August
MARKET GOSSIP-Wassermann Brothers were
responsible for the advance in Chesapeake and
Ohio, bidding the price up and finding very little
in the market Boston again reported the
principal buyer OF Amslgamated Copper. The
stock seems to act better since the dividend came
OF than it has done for some time past Edward
Sweet s. Co the best OF the early sellers. and
rather checked some OF the early bidding. 1t is
said that some of the recent buying in Nickel
Plate is based upon the BELIEF that IL is likely TO
get good deal OF business hitherto sent over the
Grand Trunk and the Wabash by an independent
road in which. however. the Vanderbilt interest
is quite factor. 1t is said that recent purchases
can be traced 10 a prominent Wall Street banking
house The Pennsylvania group was feature
throughout The movement was especially signln-
can't as the Philadelphia houses were quite the
largest buyers 4. Upper & Co. bought stocks
round the room as we'll as executed particularly
large order in Reading common. and were thought
70 have taken upward Of 1000 shares openly and
through brokers. The movement in Pennsylvania
was largely sympathetic The buying OF Republic
Iron and Steel preferred was accompanied by
r,,rno-s OF dividend action IN September. which
would Be easily possible. but perhaps not very
conservative. The preferred stock IS cumulative,
and at that time Will have about u per cent OF
arrears due. II was said that ths movement in
Baltimore ard Ohio due to the fact that
rather weak bull account had at last been hqCi-
dated H e Eckstein. tbs specialist. was the
principal seller OF the Erie preferred stocks
tbroue hcut the forenoon. The buying IN American
Smelling was by Moore & Schley. Baruch Broth
ers and specialists. There has been report cur
rent for 8 day two past that a resumption or
the movement there was TO be expected. and Incl
dentally It is said that 1t will IN some way help
Araalgamated Copper
ALABAMA CONSOLIDATED COAL-Ths req
ular monthly meeting OF the directors OF the Ala
bama Consolidated Coal and Iron Company was
held Yesterday. but only routine business was
transacted The company has let contracts for
building a hundred new coke ovens, which Will
give total OF ss5. with an aggregate annual out
put OF between 900 and $4,000 tons OF coke.
The coal production is being increased with
view to charging the present output OF about
700 600 tons year between 100000 and 1000 900
tons Work on the furnace is being pushed.
and it is expected to be ready TO blow in
about january.
metal mines and works situated in eleven different
States and Territories declared dividends in the
six months ended June 80. amounting TO the large
total OF s25,55SS55. BY far the greater part OF
these dividends. says THE Mining World OF Chi
cago, disbursed by properties which have al
ready returned nearly all and. IN a few cases,
than their authorized capitalization Fifteen
copper mines paid S2.sSs. than half
the total; forty-six gold. silver and lead proper
ties. s11,S55,60S, over SO per cent; seven zinc
mines. S7O9.sS4. per cent. and one California
quicksilver mine. 100000
RECORD RATE RIO EXCHANGE.-The rate Of
Rio sterling exchange Is I'D. which is the
highest record price in fifteen years. On April
2s Of this year the price also stood at I'D and
since then IL down to 161sd on June L. and
since that time 1t has gradually worked back 10
lid In July. 1881. the rate was is s-1sd