New-York tribune., 1905-02-09
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-In the local market for
eign houses dealt IN 10000 shares, most Of which
were purchases In the London market consols
steady, and Japanese bonds were strong.
There was no change in money rates IN London or
in the Continental cities. Sentiment abroad
cheerful and higher prices for securities
predicted.
UNITED STATES RUBBER ADVANCES
PRICES.-Because Of the continued high price OF
crude rubber the United States Rubber Company
has informed its customers that beginning yester-
day. the first discount Will be 20 per cent instead
of % per cent and that other discounts will
main unchanged. All discounts. however. sub
ject to further change without notice. The special
discount of ) per offered at the beginning OF
the year on orders placed before April next will
remain in force until that date The changes
equivalent TO net advance Of 8 2-S per cent
the schedule announced for the current year.
Crude rubber IS about 81 90 In comparison
with an average price of less than 81 last year
If the price of crude rubber advances still further
it is probable that the United States Rubber Com
pany will advance its prices correspondngly.
DUN'S INDEX NUMBER.-Dun's Index Number
Of commodity prices proportioned to consumption
S101042 on February l. against s1003IS month
previous, and S102. .G2S year ago. Although COM
modify prices have risen trihe each month since
midsummer, they still about per cent lower
than at the corresponding date last year when
a similar seasonable advance had occurred The
principal change during the month Of January
was in the clothing class almost all raw materials
rising. in addition 20 moderate advances in finished
products. slight decline in breadstufs eliminated
practically all the gain of the preceding month but
the downward tendency of meats received a check
Little net alteration appeared in other articles of
food Strength In iron and steel products was offset
by weakness in petroleum. and other articles of
that class. but there was not sufficient loss in
other miscellaneous products TO neutraize the ef-
feet OF higher prices for brick and other building
materials. Firmness throughout the list testhes to
the liberal consumption that accompanies increas-
in" prosperity in almost all sections of the coun-
try.
Developments in Europe within the last few DAYS
have been influential to a considerable degree on
the local monetary conditions. Their effect was
particularly noticeable yesterday IN the cancela-
ton of of the gold engagements for export
to Paris to-day. Tuesday practically the whole
$5,000000 gold bars which the Assay Office received
from the Philadelphia Mint spoken for but
the changed conditions Of affairs at Paris and of
the local exchange market reduced the actual
amount of gold bars which will be forwarded to-
day to $2,5C0O00. For several days the rate of
sterling at Paris has been advancing and yesterday
IL reached tho highest record for long time rising
to 25 francs IS centmes. This advance in the rate
of sterling Paris IS regarded as significant In
local banking circles. Obviously French money is
again drifting TO London in large quantities Cable
advices yesterday reported heavy purchases of Sc
curities in the London market for Continental ac-
count. BESIDES fhe purchase of securities It is be-
ieVed that Par1S Is taking good deal of Londons
bills, which facts are construed indicating that
the desire Of French bankers to accumulate more
gold is becoming satisfied. apparently they are
finding themselves able TO employ their funds
to better advantage in London than at home
FEDERAL SUGAR COMPANY TO REDUCE
CAPITAL.--A special meeting OF the stockholders
Of the Federal Sugar Refining Company has been
called for February Is. at No. Is Exchange Place,
Jersey City, for the purpose of voting a prop
osltton TO reduce the capital stock of the company
cut down from $1,000 coo TO Sl5OO00C0 and the pre-
ferred from S200o0Q00 to $l00O0,GO0. Such reduc-
tion capital is advised by the directors of the
corporation. The directors have declared divi-
dend OF IL per cent the preferred stock. which
is accumulation of two years of preferred divl-
dends.
CoPPER--The copper trade since January l has
been disappointing. Europe is now receiving ship
ments OF copper which Is. 1SI3 and IA cents a
pound, and consumers there show a Discrimination
TO buy at 15l4 cents. Domestic consumers are not
buying any more than necessary To cover immediate
needs. This situation, however may change IN
day. The producers well sold ahead end are
not at all anxious the future China is pri-
martly responsible for the 15-cent copper market.
That country has purchased total OF TO- 900 long
tons of copper in this country and 20O00 long tons
from Australia, total OF l34 100000 hounds and il
was this unexpected demand. Lever before a factor
o moment in this country. that was responsible
for the high metal prices
NACKAY CONFERENCE.-THE strength or tbo
Mackay companies securities is accompanied by
a report that the common stock will be PLACED on
u s per cent basis next month.
CUBAN BONDS LISTED.-The Stock Fxobanr
admitted TO the regular list $4,000 per cent
gold bonds of the Republic OF Cuba These bonds
represent a loan for that amount In gold In money
of the United States or in sterling They mature
I'm 1884. The issue successfully financed by
speyer & Co, of New-York
SECURITIES IIsTED.-The following securities