New-York tribune., 1905-07-11
MINING STOCKS.

FOREIGN TRADING--Foreign houses oeaIt III
5000 shares In the local market. evenly divided
In London conscls were steady and there no
feature Of interest IN the foreign bond market
although the issue OF the new Japanese loan was
announced Money was easy enough abroad, ana
the immediate popularity Of the Japanese loan
may be taken an encouraging market symptom
The only weak spot in London Is In the Kanlr de-
uartment where some failures expected at the
settlement
MARKET GOSSIP.-Strong. Sturgis & Co. bought
1000 shares OF Steel common, and Holhster & BAD
cock were buyers OF q similar amount boIh
houses were believed to have been heaVy sellers
OF other stocks round the room. and eacn com
mands an active senai-professional following FER
haps the best feature Of the market was the CUM
paratively small decline and the indifferent supply
Of stocks when one two important houses. dP
parentIy acting in concert, sold Reading and Union
Pacific which have been the market leaders ror
some time past. The presumption was tnat the's
was either more short interest than hao Oeeh suS-
pected or else the general interest was lrnproNe-
There IS not likely to be any early conversion ol
Reading seconds. but It is suggested Win I4lr
amount Of justice. that the discrepancy between
the present price OF the stock and what It wouId
Weld exchanged for 80 per cent eacn OF common
and first preferred may be adjusted oS d ueOi4--
ir the price Of the common WhHe e0liiiilSSO.
houses are not carrying much stock. as compared
with the corresponding period in some recent SeS'
thew are carrying good deal more than they were
at any time since March Brokerage houses OF the
best class reported steady investment ueliiaHu
for Norfolk and Western, and round the stucH
ANYTHING but plentiful in the market = . Mc-
Maid who IS one OF the most active traders On
+ba floor and is usually quoted as Dull ersu-
1osnt when he buys Union Pacific or southern Z .
cidc on the strength Of making MS he@oSu1
a. the Office of Hartman & Co.. onered STOCKS
down in the early trading -,--
GREENE GOID.-The faction behind the Glover
i,,,astisa ton Of the Greene Consolidated Gold COM
panv declares that sensational literature
bearing on the property viii be made PUBIC Wltnin
the next few days a statement from one expert
has it that the cost Of handling every CUBIC S@lu
NJ gravel is 81 s. and value OF gold to every cubic
,-ar1 &c about eight cents. Reports are at hand
rrono threa experts who made an investigation OF
the property after Colonel Greene and ms party
had been over it The records or the men VINO
made an investigation under instructions from
Colonel Greene will also be given The company ,
balance sheet OF June s shows cash balance OF
s1S176-a rather small working account. in view OF
the companys generosity in paying $7NSOS IN olvi-
dends.
TENNESSEE COAL. AND IRoN-The position
OF the Tennessee Coal and Iron Company in the
Southern coal business will be helped by the recent
decision OF the Pittsburg coal companies TO ship no
more coal south OF Kentucky. which shows that
the long taught battle between the Pennsylvania
Virginia coal operators and those OF Alabama has
resulted in victory for the latter. The opening Of
the canal from Mobile Bay TO the edge OF the great
Warrior coal field of Alabama. where the Tennes
Coal and Iron coal lands are located will ena-
BILE this company to put its coal 10 tidewater
less cost than anywhere else in the world II is
the nearest supply available the gateway be-
tween the oceans through which OF necessity this
greatest OF raw materials pass in enormous
quantities
IRON OUTLOOK.-Rogers. Brown & Co. have
received the following from their Pittsburg ONCE:
Most Of the business closed last week was FOR
quick shipment, which gives additional strength
TO the belief that stocks are being exhausted and
a X
tensive purchases viii have TO be made Some Of
shipments against outstanding contracts which
would seem to argue rather forcibly along the
mills have closed down the foundries have taken
on considerable new business on account OF re-
time. due 10 their having been overtaxed dur
evidently reached Their low limit as 10 prices be-
cause several firm offers at slightly less than
ness is not yet placed As general market prop
osl{ion however, the market Is no stronger and
furnace stocks are somewhat reduced.
LOUISVILLE AND NAsHvILLE-The Louis
vile and Nashville will the proceeds Of the
new issue OF s2s4OO0O unified nifty year per
bonds of 1s4O which it has applied TO list
for extensions and equipment. OF the original
authorized issue of $4,000, 900 unified per cent
bonds. s3214s,00o have already been issued. The
new issue of S2.Si00oO will bring the total out
standing TO s3i.9Ss,ooo AS approximately s4LOoo.-
goo of the issue reserved to retire prior liens
the present application TO list exhausts the amount
available for extension and squIsnlent purposes
KINGS COUNTY ELECTRIC INCREASES
CAPITAL STOCK-At a special meeting OF the
stockholders Of the Kings County Electric Light
and Power Company yesterday the proposition 10
increase the capital stock from IS. 600 900 To $40
eo0.OO0 was ratified.
UNITED COPPER-The directors OF the United
Cooper Company have declared initial regular
dividend of y of per cent a share On the common
stock and extra dividend or u per cent
COTTON EXCHANGE SEAT SALE-A se..r On
the Cotton Exchange was sold yesterday FOR yao,O
IpnM