New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-19
MINING STOCKS.
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES
FOREIGN TRADING-Foreign houses dealt in
200 shares in the local market mostly sales In
London. consols showed a firm tone and copper
stocks were noticeably strong. Foreign bonds were
steady and featureIess The general London
ket acting the assumption that the mainte-
of the present per cent Bank rate, for this
week at least. was assured. Money was in fair
demand but should rule easier for the remainder
of the week. the Japanese loan instalment is
released. The frmer tone Of the Paris exchange on
London, coupled with the strength in exchange
here puts the Bank Of England in a rather stronger
position than at the beginning of the week.
MARKET GOSSIP.-The best of the selling IN
United States Steel was by Halgarten & Co.
Neither the common nor the preferred acted as
well il has done lately. Although Brooklyn
Rapid Transit did act badly and received fairly
uniform support from Philadelphia houses supposed
to act for traction interests there the politicians
did not buy It, They do not like the election pros
pects particularly regards the McCarren ticket,
for Brooklyn. The best of the selling in Union
Pacific was by a house which does a good deal Of
business for Standard Oil connections without be-
ing frequently mentioned in that connection. The
selling of United States Steel by Halsed 6, Hodges
also a considerable influence among the floor
traders Wolf Brothers. who gave the best support
to Reading Tuesday, were noticeably heavy
sellers of stocks around the room. The Hoffman
House contingent, for the part, is decidedly
bearish II has short stock out which it
finds easy enough borrow, and is selling more
on rallies. The best open buying in American LO-
connective was by Edward Sweet & Co. who have
been consistent buyers OF the stock Tor some time
past. London seller of stocks from the curb
through the arbitrage houses, and noticeaby Of
United States Steel. This the most depressing
influence in Steel common but Marshall, Spader &
Co. appeared to have q substantial selling order
also Stocks were not pressed for sale, traders
who covered to even up reported that there was
plenty of stock in the market A good many of
them were content TO go home short. The selling
o Tba horfc
gave moderate support. but to a considerable ex-
tent allowing the stock to take care of itself
Although the foreign houses did not expect any
advance In the Bank of England rate for the most
part. they took the short side overnight.
FOREIGN EXCHANGE ADVANCES Foreign
exchange rates moved up again yesterday, sight
drafts reaching a point close to the par of ex-
change There was d great scarcity of bills and an
active demapd for remittance. and It was thought
that quotations would go to a still higher level
1t was reported that the agents Of Japan were
buying exchange with which remit to Europe
the greater part of the balance held in this coun-
try on account of the recent japanese loans 1t is
not known outside of official circles how much this
balance amounts to, but it is reported to be near
the neghborhood Of Ss0O0OO00. The course Of the
exchange market in the last week has been dis
ttnCty against this country. and, instead of fur
Their imports Of gold from Europe. the chances are
now more in favor of shipments of the precious
metal from this side of the Atlantic
CENTRAL LEATHER ORGANIZATION-The
final organization of the Central Leather Conpanv
which owns than 80 per cent of the securities
OF the United States Leather Company has been
completed. The board of directors of the Central
Leather Company is made up as follows: Edward
c. Hoyt, A. Augustus HeaIy. Nathan Allen
Charles W. Allen. Samuel P. Davidge j. Ogden
Armour, P. A. Valentine. Walter c. Garrftt Eu-
gene Horton, John j. Lapham Hall NJ Warb,lrg
Lewis II. Lapham. Frank Healy l. c. Krautoff
George W. Childs. Henry P. Darlington and c
Sumner Horton Edward c. Hoyt, president of the
United States Leather Company. has been elected
president of the Central Leather COMPANY The
other Central Leather officers are First vice-pres-
tdent. a. Augustus HeaIy; second vice-presfdent
Walter G. Garritt; third vice-presdent John ]
Lapham; treasurer James r. Plum. and secretary.
A W. Hill.
meeting of the stockholders OF the Republic Iron
and Steel Company held in Jersey City Yesterday
the following directors were elected: Grant b
Schley, George r. Sheldon, f. J. Berwind. s G
Cooper and John W. Gates. Messrs. Be-wind and
Cooper succeed w II. Hasslinger and John Crear
The other directors succeed themselves The meet,
ing was harmonious and the election unanimous
The board OF directors will in this city to-day
to organize.
CHICAGO TERMINAL TRANSFER MEETING
At the meeting yesterday Of the directors of the
Chicago Terminal Transfer Railroad Company the
retiring officers and members Of the executive com
mittee were reelected. and it officially stated
after the meeting that the matter of dis3osing Of
inc property OF the company not considered.
1t is still generally understood that the propertv
has been acquired in the interest Of the Hill roads
and will he turned over the burlington in due
time
DISTILLERS SECURITIES stockhold-
crs of the Distilers' Securities Company have re-
elected w. brentwood Smith. the only retiring ii
rector. for the term of three years The stock
holders of the Distillirg Company Of America have
reelected +. W. Fulle to the board of directors
and have elected Charles W Langley TO fill va
Cancy in the board
BANKS GAIN MONEY.-The local banks have
gained since last Saturday nearly 100000 on their
operations with the Sub-Treasury. This compares
with loss in the same time last week New York
exchange at Chicago ruled at par yesterday as
against premium Of 10 on the preceding day
NO EXTRA COTTON EXCHANGE HOLIDAY
The members OF the New-York Cotton Exchange
to-day voted not TO close the exchange on Novem-
Der g. the day preceding election.
PENNSYLVANIA RAILR, AD.-The Pennsyl-
vania Railroad Company has applied list on the
Stock Exchange SlOO,OOO.OOO $40 per cent ten-year
convertible bonds OF 1915.
MISSOURI PACIFIC'S DECLINE IN EARN
INGS.-Gross earnings of the Missouri Pacific for
the second week in october sh1 w a loss of S90OOD
making for the fiscal year to October II a loss of
s654 s5S. compared with the corresponding time
in the preceding year. Last year the carninEs or
the system unusually large
sr.rA u orr vf-rcvv