New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-23
WALL STREET AND EXCHANGES,

FOREIGN TRADING.-Foreign houses dealt in
5000 shares in the local market, all purchases In
London consols We're 1rmer 90II and foreign
bonds were hard The general market was steady
and was paying no attention to alarnist adverts-
ing from Boston and rumors from this side Money
fairly easy, but is expected to harden toward
the end of the week, on account of the London
settlement. beginning next Monday, and that in
Paris on Wednesday.
MARKET GOSSIP.-Traders liked the heavy buy
ing of Erie by Van Emburgh & Atterbury, who
took 10000 shares the moderate reaction. 1t Is
said that the Morgan interest has been buying In
quite considerable quantity, and is apparently more
concerned to pick up much stock as possible
than to support or rally the market. Among the
heaviest selling of the day was by Bishop Lain
beer & Co, who were among the considerable
buyers last week. Arbitrage houses who bought
good deal of stock after the close Of the exchange
in London took the long side overnight, believing
that the market in London could be very easily
rallied before opening. Flower & Co. support
ed Amalgamated Copper by the purchase of 5000
shares or more, very much they have done for
10 points of the last decline. II. Content, who
sold 10000 shares last Friday the leader Of the
bear attack and sold at least 10000 shares Boston
credited with some of the selling Latdlaw &
Co., like number of other houses with Boston
connections were sellers of stocks round the room.
They sold 5000 Union Pacific and 5000 St Paul.
The best support In American Smelling was given
by Morse & Moore. who bought 10000 shares but
the stock acted badly, giving evidence Of weak
pool liquidation
CHICAGO AND NORTTIWESTERN.-Re
the notice, dated May 2, 1865 to stockholders of
the Chicago and Northwestern Railway Company,
the committee securities rules: That all trans
actions IN the common and preferred stocks of
the company, made on Thursday, June l. 1908.
cept for cash." shall be EEK rights" Certificates
delivered after Thursday, June l. for contracts
made prior thereto. for cash" sales made
June l, must be accompanied by an assignment Of
rights" a due bill for the same. Sales Of
rights" made and after June 1. except transac-
tions made specifically for cash. must be settled
on Friday. June %, on which day all bills must
be redeemed. Transactions in rights and af-
ter June % must be for cash" or regular way.
The right to subscribe terminates Saturday,
July l. 1905.
\ MARKET OPINION.-A member Of a power
full banking firm with foreign connections says:
In my judgment the immediate future of the
market will depend somewhat on the progress OF
the crops. I think that if have good average
crops this year. prices of standard securities VIII
discounts crops little below the average SO that
there is plenty of room for improvement. l re-
gard the situation as essentially sound, Inc sen
sational utterances by Lawson have utterly failed
to alarm Europe they have had time to inform
themselves respecting that gentleman. You can
count a bull the situation, provided that
the crops do not fail. At the present minute the
business outlook is extremely good and the heavy
works planned around New-YOrk by the big rail-
roads mean large employment for labor for a long
to for the next two or three months, anyhow.
COMMISSION HOUSE sITUATTON.-Commis-
sion houses all around report their customers pretty
well sold out but not at all disposed to get into
the market again at present. They point out that
outsiders who bought stock the first decline
the idea that the advance not over have been
badly caught in the further severe breaks. They
all seem to be waiting for a new lead.