New-York tribune., 1905-11-03
WALL, STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt In
mon shares in the local market. all sales In Lon
dan copper stocks were heavy and lower ana Rus-
SIAN bonds lost IL per cent of their rally of Tues
day Consols were heavy. and the general market
showed rregularity and nervousness. The Bana OF
England did not change its rate, out made &C.
cidedy weak return. with a low proportion OF re-
serve TO liabilities and fairly heavy loss IN puiion
nm the week Money was in good demand, and
seems likely tc continue until the Russian sttua"
ton becomes clearer.
MARKET GOSSIP-The Missouri Kansas and
Texas issues showed considerable uncertainty, In
view of the absence Of any Amsterdam buying fol-
lowing Wednesdays advance IN this market Tho
story Of Burlington purchase for control hnds Iew
believers. Although OF the buns OK Shesa-
peake and Ohio say that they expected no ehahse
the dividend. the actual declaration at tho usual
! per cent annual rate caused some selIng, ana
probably would have brought out more stock II the
market had not been narrow. One Of the power
ful influences in Erie and Reading was the reported
speech of John Mitchell the president of the United
Mine Workers, saying that there would be no
strike. If this means that the coal operators are
concedfng all the unions demands It IS not en-
;irely a bull argument, but there are probably
enough shorts make II useful The point passed
around early that the traction stocks. and espe-
eially Metropolitan were TO be advanced on the
short interest to extent made good The poll
ocians were little more bulIish. also The Tam
many Hall following processes TO have received q
forecast Of the election result making McClellans
election practical certainty, and probably bought
slitile stock. People who ought to know the Me-
ropolitan situation well are, however, by no means
hulish. A. Ecksten. the specialist. had noticed
bly, heavy buying order IN American Smelling. and
estimated have taken upward OF 1oooo
shares. It thought that United States Steel
protected by the Morgan brokers at IS. IL
really did not seem to need much support. The
market. in fact. seems TO be absorbing the usual
profit taking sales the statement very we'll
Rock Island was one of the stocks which would not
bull In spite OF the early strength in Pennsyl-
ysEia there rather good profit taking
apparently coming from the conservative part OF
the Standard Oil interest The Reading buying vas
general, with one house more conspicuous than
another The volume of transactions was tar
larger than that in any other stock. There II
clearly old short interest which Is covering only
with difficulty The FTick and George F. Baker
holdings said stil to be intact. and with those
Of the Baltimore and Ohio and Lake Shore. leave
little floating stock available. Arbitrage houses,
after buying little stock in the early afternoon
orders from the curb. sold again before tho elose
Believing that the advance in Reading would
fnghten London operators and unfavorah-y tnhu-
tnee the rest of the list.
BANKS LOSE NIONEY-Not counting $4,000
transferred to New Orleans yesterday morning, or
debit h,, tbe sub-Treasury at the Clearing House
o. ss7s 9e4 the banks up to the close Of business
OF Wednesday have lost $s.16.eOo The loss Wednes-
day was ss21, COO In the same time a week ago the
banks had gained $4,000. The total transfers to
Up to the close OF business Wednesday aggregated
0@NGa No trustworthy information be Sc
cured thus early in the week. but In banking
circles the opinion is expressed that there Will be
shown a considerable net loss by the banks On
the direct interior movement also.
FOREIGN EXCHANGE ADVANCES--Ihe for-
eign market experienced a sharp upward turn yes
terday. more than recovering the amount lost In
Wednesdays slump. and this rise together with a
decline IN the rate of sterling at Haris 10 l0lfs'
s4c. caused a revival in banking quarters OK ois-
eussion OF the possibility Of gold exports The spe-
c,al inducement which the Bank of France oners
On the gold while IN transit makes II possible TO
carry out gold export transaction at con0oef-
ably lower rate Of exchange than could oths'-
wise be done The prompt recovery In excnAnse
vas attributed TO the covering OF shorts TO quite
N extent, but added TO that WIS GOOD ies1ti-
mate demand ror exchange to meet obligations.
Asevy sales of stock for London account In the
local market also added Its influence IN bringing
eoout the advance.
BALTIMORE AND OHIO.-Oscar q. Murray,
President of the Baltimore and Ohio. who has re-
urned from a three weeks inspection tnp. SAID
@at he found business along tho line prosperous
snd as much freight being offered ss can Do con-
vsrisntly cared fog at this time. Tho activity IN
TIE iron and steel industry II giving large
eonsse and there II every assurancs OF neeSS
movement Of tranio in the winter season
AMERICAN LOCOMOTIVE OFFICERS-Ths
directors Of the Amsrican Locomotive Company
AAss reelected tho old officers In accordance with
= resolution passed st the annual meeting the oi"
sscto-s have classified the board as follows: 6of
eas year. Frederick II Stevens. William n Bar
nun. z. c. Converse and Charles Miller; Tor TWO
ysfs. Joseph Bryan. George R. Sheldon. . Ii
.cnoonmaker and c. a Cofiln: for three geAfB' NJ
ssst ]. Ptkn, Pliny Fisk and julius z. FTsncn.
NEW STOCK EXCHANGE MEMBER-Cisrk-
son Potter. OF New-York. was elected msmoer
q t0s Etock Exchange yesterday.
z ACCk I6IxAND EI~ECTION--The board OK
ssssrs q fas cAsaGA 1ssA 1s1AnA snA