New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-08
WALL STREET AND EXCHANGES

,-oerrrN aTRADING.-Foreign houses dealt IN
AMY few shares in the local market hosus saIe-
:, Topdon eonsols were steady. ana forelsh oenuS
.,o,,. feature Copper stocks were rather weak
- she mining market showed heavy Tone AS
=. for+oipbt14, settlement begins on wednesday
.ho-a g an additional reason why money market
conditions should still closely influences the Lonooh
market The tendency seems 10 be TO induce as
,nsch reduction of the bull account as possple anu
sssrre 70 that end has probably been behind some
% fe recent foreign selling in this market. Money
-s,ss are not expected to ease of materially next
week as the Bank OF England Is losing gold 10
the Continent
MARKET GossIP-The movement in American
Locomotive is said TO have been due to the fact
4hst a number OF people sold short, believing that
yssr1bers Of the pool in it also interested IN
cotton An opportunity TO bid up the shorts
vas therefore afforded, and the movement exer-
cissa considerable sympathetic influence over
Pressed Steel Car and American Car and tounory-
Nev-York Central was weak in response to the de-
preston the price OF the stock IN London. There
has been some realizing there OF what is con-
sidered long stock in greater quantity than the
rather narrow London market cares about just be-
fore a fortnightly settlement.
Il is said that the principal support TO the bull
party in Steel common is a fnancier prominent in
the insurance inquiry, whose banking affiliations
ought to make him authority on the stock. In
addition TO calls which show large profit on pa
per bought in London, he is said TO be one of the
largest bulls IN the market The interest with
which he is associated is therefore understood 10
have been friendly to operations for the rise in
other stocks. + W. Savin & Co. were again prom
snent among sellers of Erie substantial section
CT the traders is noticeably bearlsh all the
Morgan properties at present. They admit, how
ever. that the support there is still remarkably
good. The realizing in Union Pacific and Southern
Pacific seems 10 Come from good quarters. There
IS a fairly extended bull account, especially in
Southern Pacific and the belief is prevalent among
ire traders that 1t viii be shaken out before any
thing is done GA the dividend. Canadian Pacific
sold for London The approach Of the fort
nightly settlement there, which begins wednes-
day. has not however, been causing pressure
The London bull account.
FOREIGN EXCHANGE CONDITIONS. =
Schumacher & Co. say:
The supply OF cotton bills has decreased materi-
indications ront to a highe;. exchange market as
believe there is very large floating short
% be met this month. We also believe that ex-
change, under normal conditions chat is, money
would advance materially, owing TO the deadlock
between the spinneTs and growers OF cotton. II
9oks az this writing as though the SUPPLY OF cot
Ton bills viii diminish and that the cotton season
orally shipped in from two to three months. viii
probably require from two TO eight months before
seen occurs which win induce foreign spinners to
Guy The cotton staple more m9eFag s We , ean4 mo,
rally result in high exchange as soon as money
conditions tighten and it looks as though the i'm
ports az gold would stop temporarily, The cotton
market had a severe break of fully . cent pound
this last week. which naturally should increase
cotton exports and induce spinners to buy. But
!hls decline IN prlcs has taken plzoe onIJ IN me
contract market and not IN the spot market or
he South; and although sptnneTs buy contracts
they cannot spin contracts. and Will be forced to
nuF 3ctuai cotton. As long as tne South refuses
ports
THE COTTON NOV EAIENT-According to THE
Financial Chronicle the total receipts Of cotton
for the week ending September "a reached 3+s.5sl
bales. against 2sass5 bales last week and 2A,124
bales the previous week making the total receipts
since September / 1905. 2sS $40 bales against Az
Y bales for the same period Of 1eoi o., showing
decrease since September l. 1895 of 2o3 s7S bales. Re
ports from the South indicate that the weather
has been favorable as a rule during the week, and
rs result the gathering of cotton has made ex
eeiieht progress. The movement Of the STAPLE to
market has been quite free.
ANTHRACITE COAL SHIPMENTs-Th total
anthracite shipments for the month OF September
were 3922 tons. against 1851. 500 in septem-
gel 1seh The total shipments date this year
eIe ssSS..e9 tons. against z2I73, 7ss in 1904
ne increase in stocks of coal tidewater during
me 1n0nth Of September ss,s17 tons. the present
s'OcA al iideTater being sls52o tons
re itSoN CERTIFICATES.-Regula pig iron
tliucateS at the Produce Exchange opened easy.
NoLioIy vas steady and about unchanged There
were no sales. Final prices for regular follow:
Cash and October, SIS 709sls: November SIS 700
sle le' December, SIS S04$1s 20; January. SIS 500
$40 So' February SIS so9sls 80; March, SIS soasIs
losing prices for foundry follow October SIS 100
$40 November, SIS 70Gsl6 10: December SIS 7o9
SIC 70; January, SIS 75g$ls 80; February, $50
sls 90; March, SIS 50 bid
AMERICAN sMELTERS-The Stock Exchange
lss received notice from the American Shelters Sc
i--'es company that & is prepared to make trans
iaTs ahd deliveries OF engraved certhCa3es Cor its
lss ceAl guaranteed series p" preferred stock n
SUBSTITUTION FOR the temporary certificates for said
1t'cH- Inc committee on securities rules that IN.
II iurther notice all contracts in said sock NAV
DC settled by The delivery Of either the engraved
c. he temporary certificates
AMERICAN STEEL FOUNDEIEs forc,.
ing nave been elected officers OF the American
steol Founo1es Company: Charles MILLER. cbas,-
nan William V Ke..ev. president; Robert T -
mont, first Tice-president: William y. e.ro..,.
second Viee-prss;dsEt; George T. scott third -
ftesioent5 r T. PATTERSON. secretary and traov,,
BANK CLEARINGs.-To hank cls.r,- - = =.
me last week show increase in tina as,
q 4S.6 per cenE. New-YorII gained zoe - 60
boston '2se6 per cent. Philadelphia % os ptr -
chicago a03 per cent Baltimore s. per CO... -,
81 Louis sol per cent New-oGleans lost = ~
per cent -'.o'
GELD I&PORTS-Eae steamship 81 -,
Msaea has arrived from Earcpe. had on hoard q
ss consigned principally 70 the National Cft
sas TIE neutrality-suspicious. Line stesn.S-
s1E11sehlsad wa.en sailed frerl Dover Fr5aa, -
100 1914 ~ way Of che-aourg, took s. go 900 s.;