New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-28
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
5000 shares in the local market. mostly sales in
London Consos at 9O1a lost BIS per cent. as there
was considerable nervousness on the relations be-
tween France and Germany the question OF
Morocco. which more strained than they
Underlying this is the approach Of the Paris
settlement. which was reflected in some weakness
IN Russian bonds and further decline in japanese
issues Indications are not as unfavorahIe as might
have been expected but possibilities OF trouble are
likely to cause nervousness over the end OF the
week Money was comparatively plentiful in Lon
don. although the Bank Of England did not change
its rate and made rather weaker return than 1t
has done recently.
MARKET GOSSIP.-ProfessionaI opinion
mixed. although by far the greater number OF the
floor traders were bearish. The Hoffman House
clique sold stocks rather freely on Tuesdays rally
and IS talking lower prices The weakness in Ten
new litigation, instituted in the State OF Alabama.
which may have the effect OF interfering tenn
porarily at least with the conpany's operations.
Republic Iron and Steel sold or in sympathy
Traders thought the support in metropolitan
good Considering the liquidation in Brooklyn
Rapid Transit. and the weakness in that stock
both the Metropolitan issues acted very we'll There
seems to be steady demand for Metropolitan Sc
curtties. largely by people who have been inter
ested in Manhattan Western house with Mil
shares. including st. Paul. Copper and Tennessee
Coal and Iron In quantity. Traders went
home bearish. declaring that there had been
adequate explanation for the serious further break
In the market. Many considered that stocks looked
cheap. but did not to buy without better
explanation Of the selling and the absence Of sup
port from the leading financing interests. Arbi-
TRACE houses which usually take a position over
night did not care about buying any stock. and
probably sold good deal privately for holders
abroad. The volume of sales of this kind lately
must have been considerable. to judge by the stock
which is being borrowed pending its arrival from
Europe.
LOOKING FOR NO MORE HARM FROM
WHBAT,-Some OF the Stock Exchange houses
yesterday telegraphsd their Western correspond
ents asking II there anything particularly
wrong with wheat, its renewed violent decline
unfavoraSly affected stocks the idea that some
news OF an dnfavorable nature had developed to
break the cereal so much further. Most OF the re-
plies said nothing new Of an unfavora5le charac-
ter had developed Some OF the Western houses
believe that the weakness is only the result Of the
wipdup Of the liquidation IN May wheat. some OF
which has undoubtedly been by ''taiers." The
opinion is expressed that the ruling price should
be close to milling value Several houses here
gard wheat now as practically an export basis
and think that its influence as a stock market fac
tor is passing away.
BANKS LOSE To SJJR-TRF ASJTRY banks
again lost to the Sub-Treasury yesterday to the
extent OF $4,000. which has converted their pre-
vious gain from that institution a loss OF $4,000
since Friday compared with a gain In the SO me
time last week Of $2O2OOOO. The losses TO the Sub
Treasury by the banks this week is chiefly due
to payments IN anticipation Of the first irstaIunent
of the Treasury call for the return OF government
funds May Is This fact. however. does not seen,
likely to cause any Inconvenience whichever SO far
the money market is concerned.
EVERY FURNACE IN RL4AST.-The ZanesvIlIe
furnace Of the United States Steel Corporation has
been blown in. making every furnace OF the com
pany in operation. The Steel Corporation win also
require 1900 tons of pig iron during MAY from In
dependent concerns 1t is expected the transac-
ton will be made basis OF S5 So the prevailing
price for Bessemer in the valleys Ore Is scarce
and some furnaces may have to close next week
JAPANESE BOND CERTIFICATES -All me
temporary certificates for the new Japanese Al. par
bonds Of which there We're 5000 or S5O0a hov,
been signed by the members Of the firm OF FSubo
Loeb & Co. II Is understood that these temporary
certificates will be placed the unlisted DEPART
ment OF the Stock Exchange this week
NEW MEMBERSHIP C;auattr a. ~,
Schmidt & Galatn, No. % Broadway. E5vrar5 "
Delaheld OF Meyer Livingston No "A T;r,oe,,e,
and Edgar H. Bright, OF New-Orleans. have been
elected members OF the New-York Stock Exchange