New-York tribune., 1905-08-29

FOREIGN TRADING-Foreign houses sold $500
shares in the local market In London money was
more wanted on the nearness Of the settlement and
the requirements for the end of the month. Dis
counts were steady Bar silver was strong on the
continuance Of the Russian buying, which has been
the feature in that metal for the last fortnight
The Bank of England and Paris are sharing the
gold in the open market The stock market was
generally dull and heavy the uncertainty in the
peace negotiations and the nearness Of the fort
nightly carry-over. The Kafhr stocks carried over
cheaply enough and hardened early. but became
rather weak at the close the reported suicide Of
a French operator in them. The Paris Bourse
closed heavy and depressed. Berlin was lower.
MARKET GOSSIP.-The obvious bear argument
on Erie and Reading was. of course. the threatened
coal strike in April Few traders would care TO
put out a short line event so distant, but II
probably Influenced some commission house realiz-
ing, especially in Erie Stop loss orders were also
caught in Reading. The most significant Of the
selling in Union Pacific came from Strong. Sturgis
& Co. who were quite the heaviest buyers about
three weeks ago. Support appeared TO come from
the Western element Traders say that there are
too many bull points Louisville to be healthy.
and sold it in the forenoon with fair success In
some stocks the market was narrow. A house with
foreign connections, with $500 shares Of Southern
Pacific TO sell at the opening, obliged TO return
its order as only 200 shares changed hands in the
first twenty minutes. Some of the traders on the
floor asserted that the selling orders around the
room after the first SOS trading from
Gates brokers. who had been supporting the mar
ket at the opening. Wolf Brothers were about the
best afternoon buyers of Union Pacific and seemed.
with a number OF other wire houses with connec-
tions in the larger Eastern cities. 10 be taking a.
very fair amount Of stock around the room
Traders on the floor covered shorts. following this
buying. but reported that there was still a good
deal Of stock in the market.
CHICAGO GREAT WESTERN-The financing
of the Chicago Great Western Railway has -<2n
notable in its avoidance. far practicable. Of
fixed charges This unique and advantageous pol
icy is followed in its proprietary line. the Mason
City and Fort Dodge Railroad A lease Of the
Mason City and Fort Dodge was executed to the
Great Western, by the terms Of which the excess
of earnings above expenses OF the Mason City and
Fort Dodge was to constitute a fund in the Gus
tody Of the Great Western. out of which interest
at per cent to be paid S19.S40.OoO Of first
mortgage bonds other securities of the Mason
City and Fort Dodge, the Great Western being
entitled TO retain any surplus as its own earnings
The Mason City and Fort Dodge has issued $12.-
O0o O0O Of mortgage bonds, but in lieu of issu
ing S7.s4O0D0 additional securities bearing fixed
interest per cent. it is to issue $14.00OO0O Of
rer cent non-cumulative preferred stock and
transfer it all 10 the Great Western in exchange
for a like amount of the Great Westerns preferred
stock B. BY this arrangement the earnings of the
Great Western will be increased by the difference
of $313,600 per annum in interest the oUtstand-
ing $12OOO,OO0 of per cent first mortgage bonds
and on the authorized additional S7.s4o.Ooo OF
per cent securities All the common stock Of the
Mason City and Fort Dodge has already been ac-
qured by the Great Western through exchange
of its common stock
REPUBLIC IRON AND STEEIA-The directors
of the Republic Iron and Steel Company have de-
cIared dividend of 1sa per cent the preferred
stock. No action taken back dividends.
An officer of the Republic says that the earnings Of
the company now between $4,000 900 and 100000
a year. and they will be between $50O0.O0O and
100000 year b. the first of next year. when
everything is in good working order. Although
site has been secured for a new wire mill, work on
the foundations will not be begun for long time
to come. The dividend declared is the first since
October 1908.
THE MOODY CORPORATIONS GROWTH
The Moody Corporation, publishers of "MoOdy's
Manual and other financial statistical works. have
just issued attractively printed and illustrated
pamphlet entitled. The Power of an Ideal" de-
scrptive of the remarkable growth of the enter
prise since it's inception in $780, and the present
scope of the corporations activities At the out
set the only publication the Manual which
has grown from a comparatively small handbook. in
1890. to volume of over $500 pages in the current
year. Now the list of annual publications includes
also "Moody's Coupon and Dividend Directory
''Moodys Classified Investments" and "Moody's
Municipal Year Book There have also been pub
lished from time to time several books financial
topics. and i'm few weeks new monthly publica-
ton, "Moody's Magazine will make It's first ap-
pearance. The Moody Press. the printing depart
ment Of the business. occupies its building.
Copies of The Power of Ideal' may be had
on writing to the Moody Corporation
MOVEMENT OF MONEY.-Tho SLb-Treasury
transferred for local banks 100000 to Chicago This
makes $2500.G00 to Chicago in August. 1896. COM
pairing with 100000 in August 1904 no transfers to
August. 1903 and 81 10000 in August 1902 San Fran
cisco sent to New-York $345O0O rev gold
ATLANTIC COAST LINE-The directors OF the
Atlantic Coast Line Company have declared a
quarterly dividend of Pa per cent an increase of
one-half of per cent the last preceding divi-
dend.
COPPER PRICES ADVANCE.-Copper prices
advanced Isc all around. Lake and Eectrolytic
1875 to 16Ss and Casting. 10 to 1914. Market firm.