New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-04
WALL STREET AND EXCHANGES.


~ noo shares in the local market, selling $3.50
shares In London consols were heavy, ana the
market generally influenced by the uSntHesS
of money as shown by the advance IN the perm
bank rate. Copper stocks were among Inc ~ II
features but the mining department was lnchned
to sag The hardening of the price OF bar sold was
also factor and indicates that the remaining soia
in the open market in London. propaoly Wei ulloeI
& 10000 will be easy 70 secure LOT lilp0'1
AZ that already engaged. 1t should come mere
however although there is no pront lndica'eo III
exchange quotations Money is still the dominant
influence and arbitrage houses are not hope1ui OF
much bullisTl activity until an easier tendency oe
veIops
MARKET GOSSIP J. Goodhart & Co were
the early buyers of Cast iron Pipe. movement
IN the stock had been expected before this. in view
Of the earnings and prospects. Traders caiIeo tlis
good buying and were inclined to folio" H. having
regard to the action OF other Irilor IHA''oOtlei
STOCKS Probst Wetzlar & Co. were among the
.r1,- ser1erv Of Union Pacific Although they were
among the most prominent Of the arbitrage houses
this was not considered foreign selling on the MOOT
nut traders thought it was likely to be well IN
formed London reports some selling OF Lhe mar
rirnan stocks there for New-York account Charles
C. Gates & Co. have issued an exhaustive circular
n their customers the statistical position OF
Southern Pacific. 1t is the most considerable pFl-
vate publication Of that character since talbot J.
'Tsvlor & Co. published their analysis. When the
Keene pool carried the stock to g. 1t will be re-
where near that figure. Railroad preferred stocks
are selling at prices which make them rather IN
attractive to the speculative investor The recent
movement in Cast Iron Pipe, American WOOL
len Railway Steel Spring. Federal Smelling ana A
number If other industrial common stocks, 10 say
nothing Of the broad and active market for United
States Steel is based the idea that the best IN
mediate hope of 3 speculative public Hes IN 'nat
group 1t is said that there is another movement
in Shelters Of very much the same character which
stock within narrow range of prtces-or say ne
tween 125 and 127-was striking At l8 the STOCK
has advanced beyond the accommodating range ana
is taken by some market experts to indicate thsI
the pool has acquired its line. F W Perry ~ 90.
were among the buyers of Colorado seconds. They
we're active in the market on Monday when the
Colorado Southern issues began to move. Nhether
Wabash is wanted for voting purposes or not Lon
don reports that stock is decidedly more plent
full there than it has been New-York central lent
itself readily a vigorous traders movement In me
afternoon, Jacob Field and " B. Oliver were ooth
conspicuous and were obviously helped by the
technical position of the stock. as there is very
little of It in tho Street
AMERICAN STEEL FOJNDRIES.-At the an
nuai meeting Of stockholders of the American Steel
Foundries COMPANY. held yesterday. a motion was
carried 70 amend the charter by reducing the
board Of directors from twenty-on 10 fifteen. The
bylaws were also amended by abolishing the ex-
ecutive committee and directing meetings of the
every three months, heretofore. formal reso-
luton was also adopted confirming all the acts for
the last year Of the executive committee and d.
rectors The following were elected directors for
three years: George & Leighton, Max Pam. Ed
ward shearson. ]. A. Middleton and John H Har-
rison Judge f. II. Gary. who presided at the
meeting announced that the recent bond issue had
been disposed Of nearly half the amount OF bonds
being taken by stockholders He further announced
that it had decided to the general OFFICES
NJ the company from New-York to Chicago,
there various reasons in favor of this change.
most Of the companys properties being in the
West and operations could be more economically
carried on. preliminary report was read by the
chairman as follows
ve aRe ended a s 90 % Sa So 9E
pended for improvements and betterInents $4,000
a character that they will probably be capitalized.
PIG IRON CERTIFICATES.-Ouo Quotations on the
call were follows: Regular-Cash and October.
SIS 20 bid: November. $15 80 bid: December and
January '$15 % bid; February. SIC bid: March.
SIS 90 bid. Foundry-October S15 S59s16 so; No
vernber. December and January. SIS 95q$16 so:
February. SIS 80 bid March. SIS bid. The second
call was featureless, with prices for both grades
shade lower. There were sales. Quotations
on the call were: Regular-Cash. SIS 40 bid; Octo-
her November, December. January. February and
March SIS 1885 %. Foundry--October and No
vember. SIS s5QS1S 30; December and January.
SIS 956$i6 80. February. SIS 956$16 50: March.
80 950$16 50.
J. ?. MORGAN JR., IN NORTHERN PACIFIC.
AT the annual meeting of the Northern Pacific
stockholders, !. 7. Morgan. jr. was elected a di-
rector ill the unexpred term Of the late Daniel
S. Lamont. The other directors reelected.
this is the first important dictatorship Mr.. Nor
gan. jr has assumed Wall Street believes that the
young man soon will make this country his perma-
ncnt home
BOSTONS CURB MARKET Representatives OF
u,er ba
Stock Exchange, held a meeting. Monday night
and 1t was voted organize curb exchange to
deal in unlisted securities in the of the Boston
Stock Exchange. The curb hours will be from 10
o'clock.
SOUTHERN PACIFIC.-Au important interest
In Southern Pacific is quoted saying that while
there is a possibility of dividend action being
Il ken on the common early in 1906 there is ALSO
Iutely no certainty that this will be done. as the
question has nor tentatively received cen
sideration from directors IN 10 this time,
MOVEMENT or MONEY.-The ub-Treasury
trans terred yesterday fer local banks 10000 10