New-York tribune., 1905-08-23
MINING STOCKS.

FOREIGN TRADINC-Foreign houses dealt in
30 900 shares in the local market. buying 10000 on
balance In London cOnsOls were rather heavy
and Russian and Japanese bonds were weak There
was no feature in the copper stocks the mining
department.. There seemed To be rather less con-
fdence on the peace outlook abroad than the
European markets have hitherto shown. Money
was fairly easy although 1t is expected TO harden
from now on The revival of the Paris demand for
gold in London changes the Bank Of Engiands 8
position materially.
MARKET GOSSIP.-The Reading situation ap-
pears to be that number of operators. mostly
ing called n pool. There was some suspicion yes
terday that members OF the clique were trying 10
distribute talk Of q corner in the stock j. H.
Griesel & Co. were reported as the buyers OF
something like 20 900 shares Of Reading on the
advance This is active trading house Which
might get it's orders from anywhere. and 1t would
be hardly fair to quote the deductions OF traders
en- the floor. There is plenty Of stock In the mar
ket the price The Ryan following is still ouliish
Metropolitan. Wassermann brokers are said 10
have taken all the Reading In sight after the open
ing Sidney Schuyler and T. s. Smith & co. had
some stock for sale on the first advance but trad
ers believed that bears considered them
selves cornered and were covering shorts at any
price The most curious feature OF the movement
was that it had no sympathetic influence whatever
on Erie. Most of the early buying Of Union Pa
cidc was credited TO brokers acting for Strong,
Sturgs & Co They were the largest buyers last
week In spite Of the demand for Wisconsin Cen
traI common and preferred in the lean crowd
traders rather suspicious of the stories OF
absorption by some larger interest The pool has
been hung up with the stock for a long time and
would difficulty in making IL appear scarce.
The consolidation tales may have basis Of
truth but they are very like other tales Of the
same kind current In times past w. z. Connor
is said to be conducting the bull campaiSn in Mis-
souri, Pacific. He also gets credit for of the
activity in Chicago Great Western. which traders
consider convenient for the real buyers of that
stock. Wassermann Brothers were understood 10 be
the principal buyers of Erie common, especially in
the afternoon, and also took good deal OF the
first and second preferred. There seemed to be
plenty Of the latter for sale. mostly through H E
Eckstein. the specialist in those issues.
PIG IRON CERTIFICATES.-Regul pig iron
certificates at the Produce Exchange opened easy
The foundry grade steady compared with
previous prices There were no sales. Quotations
the call follows: Regular-Cash. sl4 So;
August. s14 s0 September. SIS 90; October. E6O58
SIS 40; November. N5 20QN5 40: December, SIS log
SIS 30; February. $15 Is. Foundry-August SIS 100
SIS 90; September SIS cog SIS so; October SIS 300
SIS 80; November. $40 SaaS5 70; December. SIS 4OQ
SIS T5 February S5 5GQS15 so Regular pig iron
tdcates the second call steady for Febru-
ary. but other months were easier. The foundry
grade firm and generally higher. There were
sales Quotations the last call fol-
lows: Regular-Cash, 81 so bid; August. S14 90 bid
September 81 sGqs5 25 October SO O0Q$15 10; No
vember, SIS 2O9sl5 20; December A5 10Gsl5 50; Feb
ruary, SO 80 bid. Foundry-August. SIS 10 bid Sep
tenlber SIS &Qs15 Is; October. SIS 3GGs15 75 NOvel-
Der. SIS 4OG$15 S. December SIS 45llS5 So February
s5 55aS15 S..
AUGUST IRON OUTPUT-Thc total production
OF anthracite and coke pig iron IN the present
month is estimated at 100000 tons. as against
1161612 tons in August. 1904. and .sS5 tons in
July this year. This estimate would make the
total anthracite and coke pig iron produced in the
first eight months OF this year 14.434351 TONS as
against 10 go. .561 in the first eight months OF
1904. The increase 49O3ssO is Indicative OF
the striking change in conditions in the iron and
steel trade since August. 1904 The United States
Steel Corporation. which in 1904 produced 1859 42
tons of all kinds OF pig iron. being AS per OF
the total produced in the United States will this
year make more than 100000 tons. In addition II
Will buy iron from merchant furnaces than
ever before Production for the last half OF the
year is expected TO exceed 9Oo0O0o TONS against
s35S5 In the last half of 1904 and S01 tons
IN the months 1902 The latter production
has stood a record for last half output.
REPUBI4IC IRON AND sTEEIA-A Chicago re-
port says that the directors OF the Republic Iron
and Steel Company viii on August IS declare a
dividend the preferred OF 1st per cent and NJ
the time make arrangements for paying
some OF the back dividends on the issue
MINNEAPOLIS. ST. PAUL AND SAULr STE
MARIE-"Soo'' directors have declared the regu-
lar semi-annual dividends OF per ON tho COM
mon stock and S15 per cent on the preferred stock
both payable October 16.
UNITED STATES LEATHER PREFERRED
DIVIDEND-The United States Leather Company
has declared the usual quarterly dividend of In
per cent its preferred stock. payable October