New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-27
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
10000 shares in the local market all sales. In
London consols were heavy. Russian bonds we're
very weak the alarming strike news from Rus
sia and its probable prejudcia1 effect the
loan. japanese bonds the contrary, were strong.
The general market lower. with copper stocks
noticeaby heavy. The Bank of England did not
change its rate, and made considerably weaker
return than that of last week showing a disap-
pointingly low proportion of reserve in liabilities
and a heavy loss in bullion the week. Money
was in good demand abroad and is likely to con-
tnue SO. in view of the settlement now in progress
and the demands for the end OF the month next
week.
MARKET GOsSIP.-While there is plenty of talk
that the bull party in Reading is able to the
stock whenever it wants to, traders do not treat
such ruulors seriously. The whole floating supply
has changed hands in the last day or two, and
there is very strong suspicion of matched orders
about large part Of the business Pressed Steel
Car sold off the failure to consider common
dividend at Wednesdays board meeting It did
not, however influence Locomotive. where the bull
pool to be operating largely on the technical
position there is demand for it in the loan
crowd. Some effort was made to bull Chesapeake
and Ohio on the advance in the Norfolk and West
dividend. The stock however. would not re-
spond to stimulus from the old bul account.
Houses with Morgan connections and especially
those which trade for the extensive Morgan fol-
lowing in London seemed to be selling little stock
for the first time in a considerable period. Such
stock not pressed for salegobutTwas aIfactor in
United States Steel and Erie THE Esellis IN Metro
potan seems to represent a rather bad attack of
nerves among the houses with Political connections
which traders naturally emphasizing for their
own profit. 1t is also possible that the small fry
got in and being shaken out before the
important politicians are taken care OF in the
usual way. J. S. Bache & Co. strongly rec
ommending Disters' Securities to their customers
on the better condition arising out of another set
Element of the in the spirit trade. The buying
in American Smelling still seems to come from the
houses which have been the principal influence in
the stock in the past. A Of the commission
houses doing large volume of business seems to
show that there is a fair semi professional element
in the market, but great deal of the general
public that goes make big bull market. The
passing of the American Hide and Leather pre-
ferred dividend had been pretty fully discounted
and had a very limited market effect Such a pol
icy was foreshadowed the last quarterly declara-
ton and nobody in the Street had right to feel
unfairly surprised. The nervousness in London
over probable delay in the issue of the Russian
loan and the consequent further tie-up of gold in
Paris and London, made some of the foreign
houses rather bearish and inclined to go home
short, believing that they could get stocks back
cheaper in London before our opening.
FEDERAL. MINING AND SMELLING RE-
PoRT-The Federal Mining and Smelling Com
pany has issued the following statement regard
ing the business and financial results of the year
ended August 81 last: Gross tons Of ore mined,
s6a $50; net tons concentrates and shipping ore.
IS 205; total Of silver 26Ss S6 total pounds
of lead IS pa 055; value of silver shipments S502,
esq., value of lead shipments, s3o66, 49, net profit
for the year 1242,697; dividends paid for the same
time ST. Ss5; surplus, SAB S02; cash in banks on
August 81, S55Ss07. The general manager reports
the mines in excellent condition the reserves haV
ing Increased within the year 100000 tons.
PENNSYLVANIA.-The serni-annual dividend OF
the Pennsylvania Railroad will be declared next
week There is talk of any variation in the
regular per cent rate this year. Pennsylvania is
making record earnings and the September state
meut also due next week, will make large gains.
ATCHISON.-At the annual meeting of Atchson,
rropeka and Santa Fe the three directors whose
terms expire G. G. Haven II. H, Rogers and B.
p Cheney will probably be reelected. Other busi-
ness will be routine. approval Of leases of small
roads, etc.
AMERICAN HIDE AND LEATHER PASSES
ard Leather Company have passed the dividend on
.b. nreferred stock The directors announce that
owing TO the high price of raw material which re-
the company it belief of the board that it is
earnings in the operation of the company rather
than In dividends
NEW LOCOMOTIVES FOR ERIE-The Erie
has placed order for fifty new freight locono-
tive. with the American Locomotive Company for
delivery In February and March next Twenty
I'VE of these will weigh 225oo0 pounds each in work
ing order and the balance 02ooo pounds each
ELECTED A MEMBER.-Charles W. Saacke.
whose headquarters are at the office OF j. H Suz-
berger &. Co.. was elected a member of the Stock
Exchange yesterday.