New-York tribune., 1905-11-23
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES
FOREIGN TRADING-Foreign houses dealt in
sen shares in the local market. evenly divided.
In London consols were firm at S9as. an advance Of
4 per cent and Russian bonds q shade
harder. There was no feature Of interest IN the
rining department and copper stocks were steady.
Money was in fair demand in London. but money
market conditions generally We're tranquil making
any advance in the Bank OF England rate on
Thursday extremely unlikely. There was no news
from Russia OF a kind to disturb markets
MARKET GOSSIP.-It is understood that the
most considerable bear account in Brooklyn Rapid
Transit was stopped at 80, and that good deal of
the buying between that price and 81 was on the
execution of this order. One of the most interest
ing features the heavy buying of the converti-
be bonds by Edward Sweet & Co. The convertible
feature in these bonds is becoming q market factor
OF importance. I. & S Wormser and other active
houses were good buyers of Pennsylvania Some
OF the houses which have been active in Reading
have been buying the stock recently but the Phla-
delphia houses not quite active the bull
side they have been. When Erie crossed 90 it
touched the price that had been expected after the
first issue Of convertible bonds It believed then
that the Morgan interest would advance the price
70 make the bonds look attractive, and It IS worth
remembering that the second issue of bonds is
veTtible at So Traders who were active in Read
.ng profess believe that It will touch that price
the present advance Wolf Brothers. VINO were
credited with the purchase of something like 5000
shares Of Brooklyn Rapid Transit in the day,
believed TO have bought about IS 600 altogether in
the last week. James R. Keene is said TO be of
the principal bulls Of the stock and satisfied that
the price viii advance further before the present
movement is over. The heaviest of the selling
ders in Snelters were in the hands OF the special
lists and appeared to represent a class of profit
taking which has been in evidence ever since the
stock crossed 80. There has however. probably
been no pool selling far The selling IN St Louis
and San Francisco seconds was by s c. Love &
Co. and was considered good. Traders thought
this stock came from people in touch with the con-
troll The earnings are comparing against the
period Of the Worlds Fair and are making a
somewhat disheartening showing Arbitrage houses
took the short side over night 10 moderate extent
believing the London market would respond more
readily to a reaction than It has done hitherto TO
the advance
SECURITIES LIsTED-The following securities
have been added TO the Stock Exchange list: West
chester Lighting Company first mortgage per cent
bonds Of 1850 10 the amount Of $55SO00; s. 600 coo
additional per cent cumulative preferred and
a.aQo,000 additional common stock of the Federal
Mining and Smelling Company: s607 900 additional
first mortgage ~ per cent sinking fund bonds OF
isli Of the Panama Railroad; Slo.113,000 St Louis
and San Francisco Railroad Company per cent
trust certificates issued for the common stock of
tne Illinois Central; s. 10000 additional first mort
gage per cent coupon bonds OF 1850 Of the West
ern Maryland Railroad Company, also 900
general lien and convertible per cent bonds OF
tg9
HEAVY STRUCTURAL ORDERS. Railroads
nave been heavy buyers Of structural material
within the last few days, the new tonnage eclips-
.ns the best record for similar period this year.
9he tonnage for railroad material booked by the
american Bridge Company far this month ag-
eFegates 4o.o99 and the tonnage from other
sources Aeo. making a total of 5000 tons It is
expected that 5000 tons shall have been booked
by the close of the month which breaks all pre-
tlous monthly records for the current year. In
May, 1863. the structural steel tonnage above
l'"" Inquiries IN the market indicate that Decen-
Der will also be very busy month from the stand
point OF structural steel.
UTAH COPPER CONTROL PASSES.-Daniel
Iuggenheim, president Of the Guggenheim Ex-
Doration Company. makes the official announce
nent that the purchase Of the Utah Copper Com
psny has been completed and the latter is now IN
actual and physical control of the former. The
eo1summation of the purchase was ratified and
confirmed by the boards Of directors OF both COM
panes, and the papers relating to the transaction
were delivered yesterday.
SHELTERS NOT TO INCREASE sTOCK-The
report that the American Smelling and Refining.
Company was considering g plan or scheme for IN
c-easing its capitaI stock is emphatically denied
oy the officers OF that company. One or IT'S ohief
officers said yesterday that nothing Of the kind had
ever been considered thought Of
A DEFERRED DIVIDEND ON REPUBLIC
IRON AND sTEEI-The Republic Iron and Steel
Company yesterday declared q regular quarterly
dividend Of "a per cent its preferred STOCK. and
an additional payment OF 1ss psr cent On deferred
dividend account was ordered paid. The diVldenos
are payable January
ADVANCE IN CoPPER--Lake copper up 40 m
The asking price az 1870 Hc electrolydc up 3so
IN both the bid and asked prices at lssac TO 14e'
and casting I'D &c in bid and asked prices AZ 1920
TO lssc
ASSOCIATED MERCHANTS DIVIDEND.-1he
directors OF the Associated Merchants company
have declared quarterly dividend OF ia per cent
kn6 one-bat of per cent extra on the coIiihoh
etocks payable December L
UNITED STATES REALTY AND IMPROVE
MENTAL q meeting Of the board of directors OF
the United States Realty and improvement COM
pany held yesterday Edwin Hawley Was elected q
r-snber Of the executive committee The executiVs
and finance committee now consists Of James Still
man. Il. s. Black P. A Valentine, Edwin Hawiey
sno John w. Gates.
APPLICATION 70 LAST.-AD2licauon has been
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