New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-13
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Eoreign houses dealt in
$4,000 shares in the local market buying 10000
shares balance. In London consols made the
substantial gain of 4 per cent, advancing to sO3s.
The tone cheerful although japanese bonds
rather heavy. The International political sit
uation moro tranquil. but the pending battle in
the China Sea tended to restrict trading. Money
was in fairly active demand for the last day of the
settlement but was easy enough to borrow and is
likely to be plentiful for some time TO
MARKET GOSSIP.-Hallgarten & Co. apparently
IN charge Of the operations for creating
active market in P1ttsburg Coal P. ]. Goodhart
& Co. also active the same side. The ad-
vance in the preferred stock was based the
settlement OF the fight with NJ A Hanna & Co.,
and the moro peaceabe developments in the BIZ
luminous coal situation. The advance in American
Smelling and National Lead Simultaneous.
giving color to the old merger ruInors and
also assistance to the banking interests while
are financing the new securities company for the
GUggenheln properties The necessity for carrying
the bull campaign in American Smelling has
materially helped the pool in lead, which needed
market stimulus badly. The buying in st.
Paul seemed fairly good. H n. Whitney & Co.
took much stock anybody. They have at
different times been credited with buying for the
larger financial interests, but seemed to be
operating with the Gates following. One Of the
most encourag ing features was the rrner tone in
the Gould stocks. These have been very much
under a cloud lately, largely because Of the sus-
picon that the Gould brokers have been the prin-
clpaI sellers. IheY were PROBABLY Denlnd the Sharp
advance in St Louis Southwestern, which helped
the rest OF the group sympathetically. The i'm
pTovernent in Missouri Kansas and Texas preferred
was primarily due the appearance OF buying
orders from Amsterdam, where the stock is largely
held The satisfactory conclusion of the London
settlement which showed that the weak bulls of
the stock had been taken care of. was favorable
influence.
UNITED COPPER-The beginning Of extra
dividends upon Montana Ore Purchasing stocks.
Copper Company means. 1t Is said, the beginning in
the future Of dividends by the United Copper
Company its common shares. The Montana Ore
Purchasing Company has S25OO,O0o capital par
value Of S25 q share. Semi-annual dividends Of 81
share and 81 extra mean dividends on Montana
Ore Purchasing capital of 81 per cent. or $4,000
year. 1t is probable that dividends upon United
Copper Company common shares will be quarterly,
and will begin at the rate of so cents a share each
quarter, 81 per annum. recently paid by the
Amalganlated Copper Company
WHEAT CROP PROMISE FOR COTTON
BELT''-The decided strength in st. Louis South
western preferred yesterday was attributed to the
fourishins condition Of the company's traffic as
reflected In the reports from time to time
The company reported for the first week
OF May increase in gross earnings of H.3O
cent The fiscal year to date shows a
gain over the corresponding period of the proceed
ing year Of 144 per cent In the government report
on winter wheat made public this week especial
improvement shown in the Southwest as COM
pared with a year ago, when there general
failure of winter wheat. 1t is from this part Of
the country. OF course that the St. Louis South
western uraws its business. Through its close con-
necton with the Chicago and Eastern Illinois il
now enjoys considerable traffic fryJn Illinois and
Indiana. 1t is interesting. considering the future
prospects of the St Louis Southwestern earnings
to compare the government estimates of condition
of winter wheat in four States which are
tributary to that road with the condition which
was reported by the government on May l. 1901
and the final winter wheat crop yield of a year
ago: