New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-18
wall sTREET AND EXCHANGES.

WALL O1ndG4 AMI S<AOAAG&aOEAo
FOREIGN TRADING-Foreign houses dealt in
1900 shares in the local market. sales amounting
to 1000 shares. In london consols were STEADY.
hardening in the course OF the morning, and cop
per stocks were firm. Foreign bonds we're withou;
feature. The mining market was heavy and lower
Money continues 70 be the dominant f-ctor IN Lon
don per cent bank rate is admitted 70 be
possibility II the demand for the london supply o.
gold continues and this necessarily makes for coz
servatsm especially in the high grade issues which
most affect public sentiment There does not seem
likely to be much relief forthcoming in this respect
until the matter of the Russian loan Is cleared up.
MARKET GOSSIP Upper & Co were buy
ers OF stocks round the room. and were notceaoly
active in United States Steel common and Era
They have been very fair buyers all round for soma
time past. even when other Philadelphia houses
have been selling. Rock Island was heavy on What
looked like well informed telling. The report SHOWS
that nothing had been earned on the common stock
There is, of course, a large allowance for man
+enance TO be taken into account but the dlVldehd
On the preferred has hardly been earned either
Reading met with very fair support but the DUH
account Just now IN the opinion Of specialists does
NOT look so strong It did A block OF SONS @V'"
shares has been marketed in the neighhorhood OF
-, IN the last few davs for banking interest. ard
~ has beAn necessary to take this stock In ofCs'
TO support the market. The early reIatVe ease III
money was OF course due to ths re!ease OF me pay
n,ents on account Of the Japanese loan ana ,he
largest lenders were oroAers uS'IA--' '-e
~, Loeb & Co. A pledge that this money
,,I5 nor be called Cor before January l was alSo
+aI,[ad OF hut is probably entirely unautnorized-
Edwin HawIey IS the victim OF more ruIn9rS In l9
market at present than any one eis= C1e -.
e that he fust missed buying controI Oh C-lO-'.a
Hamilton and Dayton. backed by Joan " 80,
and the latest is tkat he IS buying Ml2souIl' AN1
90 Taxas for control The last story IS slnnPN
silly and NJ HawIey would be the nrst ?. -"
~ saw so Traders were active in ollolIs W -
inc, but Wolf Brothers. who took l-V'" S'l1i -
20 ,--es4 individual buyers They were n9uc@-
ob1, heavy sellers OF stock all round the room. -
MONDAY On the special advance II ne e1-t. --r -,
C-,-Is. q Gates & Co sold stocks all round
the room ro-.. o.
COTTON MOVING NORMALLY --E'NporlS -
cotton on Monday were 1854 oales' COllpa1--9
T,,b % 175 baIes q year ago. and since Friday eA
~ - NO s77 baIes comparing with 79s& foF
-, ,o~~esnond4ns DAYS Of last year VI thes7 q
,o-+s on Monday 12.QN0 bales went from Ne"-O-
leans For the entire month OF Sep'elloet -
norris from New-OrIeans Of cotton Were o.AS So
bales Exports from NeW-OrIeaIs i.A' - -.
strfc+ed bv the yellow fever epidemic win =.
,is.rDearancA of the epidemic II IS expected Ina
.a1-ror+s Of cotton from New-Orleans VIII reso'a'
Z heir normal importance
STRENGTH IN FOREIGN EAO HANeIE-
Eo-atgn exchange rates made further adyaHcs
in Yesterdays market. demand sterling moving =
2,tr+s higher as compared with the final nsu's'
~ the preceding day. The upward movements -
exchange reflects active demand lot TO-
rance and a supply of bills 700 small 20 meet .Is
requirements OF the market. despite the l'0t --.
COTTON is now beginning move in a more Norma
,,.,,ar Exchange has been advancing foT t''
1.e+ two weeks and rates are well above the po-'-
at which gold may he imported at ProHt- NJ
Is little chance OF additional engagements I'
mort this wear while. If exchange CONTINUES =
move up there may be gold exports. ai-HO1s
foreign exchange bankers do not look io9 SU1"
development.
CHICAGO SUBWAY SHARES BREAk-NeaA
ness again developed IN the stock OF the tHS-s
Subway which is dealt in on the Local
There vas A drop OF more than dozen Poia,s
~ s,oct selling down from 52ss 10 - The dectas
Was apparently due TO forced liquidation ofo'44
about by the manipulation that has been GONG 9.
in the stock for long time past. The o1loeIS =
the company assert that the decline does nos ~
sent any unfavorable development aHT''e -,
concern. but the curb processes 10 believe "a
the earnings OF the property do not warrah' '"'
present price OF the issue.
ANAIGAMATED COPPER DIVIDEND -i.'
next meeting of the board of directors OF IRE an
garatcd Copper Company will be held IN this ets
tomorrow. when the question Of the next a 'u
will be decided There seems to be an inPfes.
on the part Of interests that the orr
will again increase the dividend rate from
cent 10 per cent. While no one can be ce''S"
what action the board will take. Il can be SAID -
Some assurance that it is extremely unlikely p
a further increase will be made at this time w
three months ago the dividend rate was ad''-~
from a 4 per cent basis to a per cent basis
IRON MARKET CONDITIONS Rogers. Brow"
& Co. have received the following from their Pn-'
burg office
It IS fully expected that the current week N
record particularly heavy sales Of Besse'oer -
basic. II this results it IS practically iuevies
that new and higher prices will be set for r".
business. The whole market is extraordinarAy -
now. In the foundry grades prices are oeins
quently advanced ard many buyers heSitauhs
former prices promptly place their orders "asn~
vances are announced. Each succeeding avs
seems to bring inquiries.
AMERICAN LOCOMOTIVE.-C. 4. toSlL - :,
dent OF the General Electric COMPANY ana = r.,
Converse. a director OF United States steel -
been elected directors Of the American L'e0- "a
Company. succeeding George W HoadieE an
Seward Webb. other directors were re-ee'e,
BANK DIVIDEND INCREASEsD-Ihe 80 -
witch Bank has increased its dividend IT, tr 81
cent to per a year BY the declaItss, a. cre
semi annual dividend OF per cent rms ;j ASST
of tho oldest banks in the city, ana has ,ie !lst
bends AZ the rate OF per cent a year lo' ~
fifty years. V-ihslTL
GOLD IMPORTS. The KToEprinE -, boasi
which arrived from Europe yesterday nLIt ~ al C1y
$4,000 in gold. consigned to the NaO
Bank. =, cha
T,IVrTpuaNyr, I,L-C,T APED The directors o. Nv