New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-20
WALL STREET EXCHANGES.

FOREIGN TRADING.-Foreign houses uea4t -
50 600 shares in the local market. mostly sales- IN
london consols were lower and the genera i0i Nc
was heavy Rio Tfnto showed fair strength anu
+ba foraten bond market was not disturbed Min
mo stocks were weak Money is still the dominant
factor in the European market aitnoush soIh7
nervousness has been created by reports OF I'M
favorable DEVELOPMENTS in the old Moroccan ques-
+ion IT IL plain that shall have to bid up TOT
gold in London to get it, as the competition TOT
the metal is keen and the Bank of England IS not
likely to hesitate about raising It's rate ms
means higher money rates here.
MARKET GOssIP.-One Of the adverse In
huences was undoubtedly the failure OF the mar
ket to respond to gold imports. Traders, however
say that it very seldom does respond 10 anyInlns
hu+ the first engagement of the kind IN past
years II has generally been found that gold imports
are apt to be a good deal discounted before they
are made. The American Locomotive poor seelnS
to be getting out of stock where the market VIII
+aka n although a good deal of manipulation Is
anDarentIv necessary. Canadian PACING again
showed that the principal market for the STOCK
is still in London 1t responded fully 10 the oe-
cline there and was practically the only stock
which did So There has been some proHt taxing
by Canadian holders. who think the advance mas
been too rapid but there still many strongly
convinced bulls. The early weakness IN missouri
Kansas and Texas was due to discouraglng utter
ances Of the president the question OF preferred
dividend Some authorities. however. say thaI
he NAV be obliged conform to the wishes
of the Amsterdam holders who are UNDERSTOOD
to favor a declaration A NUMBER Oh people
who bought Tennessee Coal and iron on TAIN
or substantial increase In the dividend rate were
liouidating. It has been pointed out mere OeLois
that the clique trading in the stock recenly mas
not had the Woodward interest behind H. altnousH
the latter would probably not sell stock unoer %.
In spite of what would be called otclaI detaAs u
any intention to pay the back DIVIDENDS on hePuo
lie Steel preferred, the Gates crowd are sun JUN
ing it There is just chance that they influence
enough stock to force some financing Duc the
OF the traders talk of manipulation 10 unoau 'ile
pooI stock There is no doubt that Mondays ouy
ing of Steel was by two houses who TOOK So"'V
e+oras between them and received their orders
from trade sources. Ordinarily the professionals
would consider this good buying. but for the mo-
.nent they are not buIlish. They consider tnat II
such block of stock could be secured without
advancing the price y per cent there must oe soe
good. unexplained selling.
BANK OF ENGLAND RATE MAY ADVANCE
A further rise in the open market discount rates
in London yesterday foreshadowed, IT was thought
another advance in the Bank OF England minimum
discount rate. The London discounts have oeeh
hardening for some time, but the shar2est advance
was noted yesterday Private cable adVlces re-
ceved by prominent banking institutions here quot
ed London discounts at 32s per cent to 3s per cent
1nasnuch as the bank rate is only per cent. local
bankers to-day express themselves as believing
that the probabilities are strong of further ad-
vance in the Bank of England rate on Thursday.
REPUBLIC IRON AND STEEB.-Interests con-
nec+ed with the Republic Iron and Steel Company
admit that the question of paying OF the back div-
dends on the preferred stock is under consideration
No pIan has been agreed upon as yet, but 1t is
1,eI1, that one will be adopted before the close of
the year.
c.o1.D TNPORTs-Lazard Freres engaged Sl,75o.-
ono gold Yesterday import and the National city
Rank Engaged about 81, 100000 This makes upward
~ "a ono coo engaged on the current movement. The
North German Lloyd steamship Kronprinz Wilhelm,
which arrived from Europe yesterday, brought the
first CONSIGNMENT of gold shipped to Lazard Freres'
azgregating $625.OOO
LARGE SALES OF IRON.-The 'enand for pig
iron is assuming large proportions Dealers report
AGGREGATE sales of % 900 tons of basic. foundry and
forge iron in this market yesterday. Consumers
annear anxious to cover .heir wants before gen.
eral advance resulting from higher prices OF raw
material, Is made.
PETROLEUM PRICES ADVANTAGEOUS
petroleum in New-York was advanced . points
yesterday 10 750c in barrels and 46oc in bulk.
philadelphia quotations are on basis polnts
lower Credit balances at Oil City were advanced
Sc, to 81 80.
MONEY FOR SAN FRANCIsCo.-The Sub
Treasury paid yesterday TO banks $3.50" on tele-
eraphic orders against the deposit of rev gold at
the San Francisco mint
CANADIAN PAC1FTC.-It is announced in Lon
don that the Canadian Pacific has refused an offer
of s5 600 O for its holdings of lands IN the North
west 49,.
DIv1DEND DECLARED.-The trustees OF the
-ri+le Guarantee and Trust Company have declared
a dividend of per cent. payable on SEPTEMBER o.
n stockholders of record on the closing OF the
transfer books. on September q