New-York tribune., 1905-08-31
WALL STREET AND EXCHANGES

FOREIGN TRADING.-Foreign houses dealt in
4o"0 shares in the local market. buying s5o0l
shares In London prices for all securities were
strong on active volume of business C-onsoIs
were up 3 and japanese As advanced over point
while the Russian As enjoyed gain of a. Der cen+
sentiment in European financial centres was ex-
tremely optimistic II was thought that money
would rule comparatively easy for some time to
come, and that the United States would be able TO
secure all the funds desired in London and Paris
In the form of exchange borrowing
MARKET GOSSIP-St Paul sold of "a sifv from
the strong close Of the preceding day The traders
appeared 70 be particularly hostile. and asserted
that there was extensive scattered Western bull
account which could not carry such a high priced
stock with any hardening of the money rate There
was falr support at 1S2. but the Standard Oil
brokers appeared willing that the superficial buU
account should be shaken out a little II is esti-
mated that the Gates following sold about one
hundred and fifty thousand shares They have
been carrying lot Of stock. and usually trade on
the idea of selling when the good news is ollr The
reasoning is not bad. referring to a dividend
or rights on stock, but is always apt TO mis-
calculate the cumulative effect of great national
chanSe, Ike the Wormser selling on the second
election OF Mckinley. Brooklyn Rapid Transit vas
exceptionally strong, in spite of the irreglIaritv
elsewhere. The most influential buying was by
Van Emburgh & Atterbury who took 1000 shares
IL was rather noteworthy that all the Cafes ssI
ing OF Louisville was absorbed vitbout srv s,,b
stantial recession in the price The control in that
property has liked the Gates effort To buI If
The Flower buying of Amalgamated Copper was
about the best support in that stock There are
plenty OF bull points about from undeniabIy good
sources, and all the trade news is buIlfsh HooIav
Learnard & Co were credited with the purchase
OF 10000 shares of AmalSamated Copper being
part of 10000 shares sold by Dudley Bros Thers
talk of covering of Boston shorts but traders
thought the selling looked rather better than the
buying, in spite of the obvious support OF the
Standard OIL houses. Active traders on the floor
like C. B. Macdonald. taking the long side of
fI
satisfied with the capacity for digesting stock
which the market has shown. The commission
houses were very fair buyers on the decline
PIG IRON CERTIFICATES Regular pig iron
certificates at the Produce Exchange this morning
opened irregular The foundry grade however
was firm and generally higher There was a sale
of 100 tons of September regular at SIS 80 on Tho
call Quotations on the call were as follows.
Regular-Cash. S15 50@A6: August. S15 5O9N5 80;
September. SO 450Sl5 60; October and November
S15 55QS15 80: December SIS so bid February SIS so
q$16. Foundry-August and September SIS 5OGs16:
October, SIS 6OQS16; November and December
$l5 6o8S16 10; February, S16G$lS % On the second
call regular was lower near and higher on late
months compared with the mornings level The
foundry grade was fairly steady. There were no
sales on the call Quotations the call were as
follows Regular-Cash. sl5 SGaSl6: August s15 457
S5 10; September. SO 4GGtS5 30; October SIS 5O0
SIS 50; November SIS 6OQN5 90; December SIS co bid
February, S15 6OIIS16 FoundTy-Augl.St S15 5gsS3
SIS 20; September S575 asked: October s15550
SIS 50; November. SIS 6OGsls; February ssGSs %.
CANADIAN PACIFIC.-Buyers of Canadian Pa
cifc stock lay much stress the argument that
the conclusion OF peace in the Far East will in
10 large extent, the profits OF the Canadian
Pacific company through the expansion that will
take place In the Oriental trade from the Pacific
Coast.
OSS-SHEFFIELD-A meeting of the directors
of the Sloss- Sheffield Steel and Iron Company will
be held September u for the purpose of acting on
dividends. The question Of increasing the common
stock from S,5O0OOo to the authorized issue Of SO
100000 will also be discussed.
UNITED STATES STEEL CORPORATION
BUYS PIG IRON.-It is officially stated that the
United States Steel Corporation has purchased Is
600 tons of pig iron from the independent furnaces
The corporation forced 10 pay as high as SIS
ton for some OF the iron. portion OF Il was
acquired on the basis of S1f so a ton
MOVEMENT OF MONEY.-The banks up to the
close or business yesterday had lost TO the Sub
treasury A.Soooo. The loss yesterday was $4,000
Inc Suo-Treasury debtor al the Clearing
house for SsSs1a. The banks week ago up 70 the
close or business on Tuesday had lost SSs7 600
PENNSYLVANIA SECURITIES SHIPPED TO
GEkMANf.-There recently have been heavy ship
ments or Pennsylvania Railroad stock and con-
vertible bonds 10 Germany