New-York tribune., 1905-07-18
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
10000 shares In the local market, of which 5000
were purchases Consols were rather heavy. and
the foreign bond market showed little feature OF
interest. The mining department was better and
there strength in copper stocks Money
was easy and is likely to continue so up to the end
of the month at least. subject to special demands
arising out of the international political situation
and occasional calls issues There was
rather indefinite feeling that the party in Rus
sia had strengthened its hand and this had
effect on consols and other high grade issues.
MARKET GOSSIP.-Traders we're inclined to
suspect that there was some distribution of Read
ing in progress Ender cover Of the strength else
where. 1t probably represented transfer of spec
ulative activity Erie where OF the old bulls
of Reading conspicuous in the buying. There
more Pittsburg Coal preferred for sale
throughout the day and the stock acted badly. The
market indications are not cheerful on the coming
dividend Foreign transactions the principal
influence in United States Steel issues and included
unexpected volume OF selling in the common
One of the features OF the days business was the
purchase the curb OF $4,000 OF the Japanese
Al per cent loan by Knauth. Nachod s. Kuhne. who
paid up SO and interest This house has very
active foreign connection. and may have been in
fuenced by the fact that the loan more
heavily subscribed in London than IL was here.
Arbitrage inclined TO take the long side
OF the market night to a moderate extent, be-
lIevtng that the London market pretty well
sold out. and could consequently be easily advanced
AMERICAN WOOL4LEN COMPANY.-In order
to provide additional working capital the directors
of the American Woollen Company have voted 70
issue and offer to the holders OF preferred and
common stock at par. 800 share. 100000 OF
per cumulative preferred stock now in the
American Woollen Company treasury. This
stock will be payable September I. No part OF the
proceeds OF this new stock will be used for the
purpose OF construction acquisition OF new
plants Its issue Is due 10 the Increased business
OF the company. which has demanded a large work
ing capital The output of goods this year will be
the largest IN its history, win the earnings of
the company.
steel. AND IRON MEErINGs-rhe bar iron
and nut and bolt associations, al their meetings
this week. expected TO reafhrm the existing
schedule OF prices The opinion prevails that there
will be change in plate and structural steel
prices. the prominent manufacturers are Op-
posed TO such movement. TIE independents are
working for an advance OF at least s. ton IN
structural steel Word has been received from
Birmingham that manufacturers holding to
sn 50 for No. foundry. This is equivalent TO an
advance OF Is and 80 cents. Northern irons are
also hrrner.
STOCK EXCHANGE ANNOUNCEMENTS
Quotations discontinued IN certificates OF de-
pos!t for American Ice Company common and pre-
ferred stocks and United States Leather Company
common and prefeire stocks. TIE securities
in each case have been issued. There are admitted
TO the list $S.No.Oo Missouri Paclfic Railway fifty
year per loan: s4esO Atlantic Coast Line
Railroad additional first consolidated fifty year 4
per bonds: Sas3 COO Gulf and Ship Island Rail-
road additional first rerunding and terminal per
cent bonds OF 1862, and 100000 International
Steam Pump Company ten year per cent de-
henture bonds; 2s4o.oo Louisville and Nashville
Railroad additional unified and s. $50 TOO Cleve-
land. Cincinnati Chicago and ST. Louis additional
common stock
MISSOURI PACIFIC.-The balance shsat or Mis-
souri, Pacific. as os April %. ia6 shows "a asB DO OF
Iron Mountain stock owned against sskTsa no on