New-York tribune., 1905-12-24

OF november <o.-l l9O1
rather than to any immediate activity. Perhaps
one Of the reasons for the rather easier tone IN
Union Pacific J. ]. Hilrs denial OF any ,nten
ton to sell Great Northern ore lands 10 the Irne5
States Steel Corporation. This dlsposes of a +onic
on which there has been nothing but the mos.
contradictory news for the last five weeks Tba
enhancement IN the value Of Third Avenue stock
Is the natural result OF the Belmont control OF
Metropolitan. The price should in fact run bigb
er. This becomes q per cent stock with a much
improved guarantee. for four years from nar,
April and per cent stock afterward With the
ultimate increase in dividend. bond houses think
1t should sell on a per cent basis. which voub
make 1t worth 100 Anaconda was active and verv
much higher, showing enough strength IN ipdic...
that the best market for the stock is not IN Lon
don, but in New-York. The prediction OF so for
the stock, which was made a year ago by Au1alga
mated Copper interests. is thought by some verv
fair judges of the copper market to have bean
much more conservative than it looked at the tlns
The most popular advance in the morning wac Tho.
in United States Steel common which attractas
larger share OF activity than the stock has sean
Tor some time past A A HCusnan & Co vbo
bought 1900 shares. and HalIgarten & 60 vho
bought 1900, were probably acting for Morgan IN.
teres5s. and were followed readily by the traders
THE COTTON MOVEMENT to Tina
FINANCIAL Chronicle" the total recefps Of cot,on
for the week ended December D 1901 were 9Oa sta
DaIes' against 264,SO6 bales last week S00T2 tho
previous week and $500 bales the week befors
that The total receipts since September ara
4SSS21O bales against 5595763 for the same period
last year. decrease of 1853 bales The weathsr
has been quite unsatisfactory as rule during the
week Rain has been general. and to some extent
excessive. interfering with picking and marketing
the remainder Of the crop. A tendency to hold
for higher prices is still in evidence
JERSEY CENTRAIIS Observation-Disclosures Of
the Central Railroad Of New-Jersey for the month
OF November show a gratifying increase. both In
gross and net, gross increasing $2SS.O1 and nee
$120.343 The surplus for the month. after charges
taxes and improvements. amounted to $4s5,7g. COM
pared with SS52,79O in November 1904 From July1
surplus shows an increase OF $S71. .464.
REPUBLIC IRON AND STEEL.-Ths statement
was made yesterday on good authority that the hack
dividends the preferred stock Of the Republic
Iron and Steel Company VIII be paid Off within the
next few weeks, preliminary 20 the merger OF ths
corporation with the Tennessee Coal and Iron Com
pany. About 50 250OOO will be required for this pur-
pose. The Republics statement Of June 90 1865
showed more than 100000 cash on hand, but as
result Of increased earnings since then It is said
the cash holdings of the company are now much
larger. The company has outstanding in loans IA
Wall Street more fthan SSO0O.O0O.
PIG IRON CERTIFICATES AT PRODUCE Ex-
CHANGE-Regular pig iron certificates wers
steady but without transactions. Closing quota
tlons for regular follow: Cash, December and jan
uary, SIG 50d$16 75; February. March April. May
and June SIC 750$17 %. Final prices for foundry
follow: Cash and December. S16 55@sl7 90; January
SIS 75G$17 o; February and March. SIC 75gSl7 Soi
April May and June, ST so asked
BANK CI4EARINGs~-TotaI bank clearings Of ths
United States for the week ended December q
amounted to S3 465 S against S342 9S21s5 IN tbs
nd 77SQ in the correspond
ing week last year.
INTERNATIONAL POWER DIVIDENDS-Ths
directors of the International Power Company have
declared the regular quarterly dividend OF pc.
cent on the common stock and an extra dlViuenu
Of 81 on the preferred stock. payable January .
APPLICATION TO LIsT.-Appication has been
made to list on the Exchange an additional SisoVs
of the first consolidated gold per cent bonds dus
1851, of the National Railroad of Mexico
GOLD TO AIEXICO-There has been exported TO
Mexico this week about 81 10000 gold, which VIII
increase the loss of the banks by that amount
s. 2.o29,5oO
NATIONAL, I,EAD.-The National Lead directors
have permanently adjourned their monthly meet
ing and the officers continue silent regarding tls
possibility of early action the pending merger
negotiations.
FOREIGN EXCHANGED. Schumacher %.
say
Prices for exchange, in general ,S,sr Tay ara
- ~H
opening which carried the rate 10 7.oos1 u1 ali
sterling sold off 4.S6l5 on the advance s,cTs ~
money to Is per cent. Later in the week & eHc cIessd
recovered the greater part OF tAiS Ios+ oII Sbis
at 4S630 after selling early today az 4S9i, ,if Of
transfers sold at 4ST34-ciOSe 70 the pl6A pVs .l-s
the year The wide difference between caD5 o,ich
fers and demand sterling. which attracled ,aE-
attention is explained by the fact that our rrsafs g
ers have drawn upon their foreign cores a~-
to such an extent 0Oanng the money IN thlS % n0 n
keD that il has become necessary lot 49, il,1-.
remit by cable in order 10 make the proper Li.Css
ing at the end of the year. COu1renta! 81
closes variabiy changed TPiChST-l1rkS i''',t -
weak and francs higher and strong i ne ISSSer
of the Bank of England is down TO OBS tlie nnr
point since 1882 Notwithstanding this. vac p" -,
did not advance its official rate OF dlScoii,. .5is
heving that monetary conditions VIII soon s.or
themselves satisfactorily and chtS cea{su q am
able impression Gold received III stsFiu
Russia, and this also interpreted I}I1 % ~
The high rate for call money III this nlafAe' N-sv
continue for a few days longer say over -oa1d
Years, but after the distribution of dlVlae
interest bonds IS made we can look iof q ,r5t
ably lower rate for both call and time HOtsS,t
only here but also abroad Exchange ti!Si -
will probably advance in January. unless - tit..iy-
ply OF commercial bills should increase ma -i
This is not likely as further experts ut cotton -
not take place in bulk, but win cover pt,tio- "a
several months. Foreign spinners are u1WtilA7 bas
lay in q large supply of cotton. pIeierrlnS " -
only for immediate consumption