New-York tribune., 1905-08-02
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-FOres sn houses dealt IN
l9Oo snares in the local market. all sales In Lon
don consos were rather heavy, but hardened in
the later trading while foreign bonds developed
no feature Of interest. The mining market waT
stronger. Money was very easy. and Is likely TO
continue throughout the present month, ex-
cept for Occas sionaI special demands arising out
of calls issues. 1t the account day
for conso.s which continued at a slight contango
MARKET GOSSIP.-On the sharp reaction in
American Sugar A o. Brown & Co were con-
spicuous sellers. and number of stop loss orders
caught in the neighborhood of 14S- There
seemed TO be more buying orders To- lower Wall
Street on the reaction than there had been in the
early strngth. Taylor. Cutting & Co. who were
estimated have sold 10000 Amalgamated Copper
in the day. believed to have unIOaded
thing like 10000 shares Of that stock this week.
A. A. Houseman & Co. were the heaviest buy
of United States Steel at 1Oi This the
figure fixed for large number of profit taking
sales. 1t said a great deal for the strength of
the market that IL able absorb all this
stock. Specialists thought bear stop orders would
be found little higher up. The wire houses
generally more bulhsh than the traders J. 6.
Bache & Co. were advising their customers that
their floor representative considered the buying of
the Pennsylvania group particularly good. and was
also buIlish on Amalgamated Copper and SmelterS
Other houses like T. A. Mcintyre & Co. were
more generally buIlsh. but contemplated the possi-
bility of some recessions. Houses with political
connections are still noticeaby apathetic about
advance North
west was on buying by j. W. Davis & Co. usually
considered representative Vanderbilt house From
the buying of a number of houses supposed to
traIe Tor the Lewisohns il argued that they
We're among the active bulls of Smelters. Runlors
OF an arrangement between the Vanderbilt interest
and Lackawanna whereby the latter takes over
Nickel Plate. still current nOticeaby in quar-
tiers where the immediate stock market effect is
not the first consideration.
JULY INSOLVENCIES.-Co failures in
in he T,,11-
to compilations by r. G. Dun & Co. were only 7Ss
In number and S614SSS0 in amount of defaulted in
aebtedness. very favorable comparison with the
llO' nsovencies for SsS12.O97 in the corresponding
month last year, the S15 failures involving debts
of SIG. .751245 in July. 1903 1t is necessary TO go
back TO lsOl to find a July with fewer suspensions
while the amount involved was smaller this wear
thah any year since the records were compiled in
this form. with the single exception of 1899. There
were l'S failures of manufacturers with liabilities
of S5l9Ss. against 264 last year when the amount
was s3,151dIL The contrast is most striking as to
trading defaults 5s4 for 1856 falling far short OF
the $40 IN 1904. involving S3s6O30 Other commercial
failures, not properly embraced by the two leading
classes. such as real estate. brokerage commits
sion and similar houses, were 10 in number and
SolV9 IN amount compared with 81 for s6Ss 2s last
year Eight banks closed their doors with liabilities
OF sl2S75ls against 10 last year. when the indebt-
edness rose to s.. .320. .2S9
INTERNATIONAL MERCANTILE MARINE
At the meeting of the International Mercantile Ma
r1ne board the retiring directors were ra-elected
thus leaving the personnel of the board the same
as before. j. Bruce Ismay remains president while
Sir Clinton E Dawkins h {. b is again head %
the committee in Great Britain while Phtlin a :
Franklin and John Lee are vice-presidents in the
United States. The chairman OF the board is
Clement A. Griscom Francis I4ynde Stetson and
Emerson Z. Parvin ape as before general Counsel
and secretary respectively,
AMERICAN STEEL FOUNDRIEs- di-
rectors Of the American Steel Foundries will meet
to-day, and NJ V. Kelley. president OF the Simplex
Railway Appliance Company the time II was
absorbed by the Foundries company will be elected
president. succeeding General Charles Miller. II
is announced that the S50o,O00 s per cent bond
issue has already been underwritten
UNITED COPPER COMPANY-The BOSTON
Stock Exchange has listed 30 90 shares OF the pre-
ferred stock OF the United Copper Company. par
500. The directors. given the listing notice
are the following: F. A. Henze. Arthur p. Hetnze
John MacCnniss. stephen T. Nash. Isaac s Tav-
lor, Frederick A Martens. c. Reusens Otto 4.
Heinze and Max H. Schultze.
CANADIAN PACIFIC-The proposal to dolrbl.
track the Canadian Pacific Railroad between Win
nipeg and Fort William represents the biggest un-
dertaking OF the company in the West since the
construction of its permanent lines west OF lake
Superior The first contract awarded last week
to Foley Brothers. Larson & Co. of ST Paul and
was for SOO0.ot0 for grading and rock cutting bu,
the work altogether will call for an expenditure or
sI0Oo0Oco
STRICKEN FROM THE LIST.-The following
securities have been stricken from the Stock Ex-
change list: Texas and New Orleans Railway com
pany first mortgage per cent bonds Of 1896: Chi
cago. Burlington and Quincy Railroad Company
Sl0i 20 Denver division per cent bonds of 49,
called" for August l. 1896.
COPPER EXPORTS.-Exports OF copper for the
month Of July were PL2iS tons. against 10 g9o q
year ago.
STOCK EXCHANGE sEArs.--A seat ON the
Stock Exchange sold yesterday for $50
ON This Il the same price as tht last preceding
sale 1t IS reported that there is inquiry for seat
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