New-York tribune., 1905-08-05
WALL STREET AND EXCHANGES.


FOREIGN TRADING. Foreign houses dealt II,
800 shares. evenly divided. In London consols
steady and featureless and the foreign bond
market showed no changes of Importance. The
Copper stocks were rather Unexpectedly heavy
Money easy enough abroad and likely
to harden. There is a decided tendency to coI-
tract the volume of business. not merely &C
count of the holidays but until something definite
is known Of the Russo-Ja panese peace conference.
MARKET GOSSIP-The market was wider than
might have been expected although commission
house trading confined a large extent
houses with pool connections those usually
cutting orders for the larger operators. The
markable earnings of both Union Pacific and
Southern Pacific for juno explained some of the
recent buying of these stocks and probably stmu-
lated the covering Of shorts. especially in Union
Pacific. Traders have been selling lately on the
idea that there would be developments in
the absence of Mr. Hartman The principal buy
ing OF Smelters which carried the price to its
high record figure, was by A Eckstein. the special
ist. A. Loeb & co. and other houses associated
with the control have been buyers. Mendham
Brothers, who actively employed in the buy
ing of the previous day. were substantial buyers
round the room. especially in United States Steel
and Reading The other traders were disposed to
follow them. The early movement in Alton
significant even if the market generally used
to advance number of pool speCiaitieS. One
house which has been very bUllish the stock Tor
advance the price their orders were "at the
market They 10 think that the Harrinah
interest will be found to be in some way resDop-
sible for recent absorption Of the stock Houses
with offices uptown. at the Hoffman House and
elsewhere report some increase in the public in
terest in the market IS distinguished from the
semi professional element which trades all the
time There is reason for believing that the Brady
contingent is still behind the movement in United
States Rubber 1t is said that there is some short
One hons VII h2S
a good deal of stock in both Great Northern and
Northern Pacific i'm the past fortnight seemed 10
he picking up all the Great Northern preferred
offering They said that the stock coming to mar
ket over the telegraphers' strike the cheapest
they likely to get for some time to come. and
wished there were more Of it. Some active houses
which are not particularly bullish on general mar
ket conditions speak well of Sugar.
CURRENCY MovEMENTS-The reported move
nlents of currency this week indicate loss in cash
held by the banks of So 26.SOo They received from
the interior sS.275.700 and sent 10 the interior
s5.44S5OO including $500 transferred through the
Sub-Treasry to New Orleans and Sl.90io00 national
bank notes Washington for redemption The
gain from the interior $S27.2o0 Receipts of
new gold were 81, ,343. 800 namely, $5ts,S00 New
York Assay Office checks s560.3IO on San Francisco
Mint checks and teleSraphic transfers and S2SS,1g)
on Seattle Assay Office checks for Klondike gold
Ordinary disbursements by the Sub-Treasury were
SIS sec 2oo payments by banks the Sub Treasury
tion fund, etc. were 24Ol1.OO The loss on Sub
Treasury operations proper was S5.S77SH. The
total gain from the interior. SS27 201. and gold.
$l.S4SSO0, was S2.171.0G0 Deducting this from the
loss on Sub-Treasury operations proper. the net
loss is $S206 $50 Gross receipts from the interior
were slightly smaller than in he preceding week
and the shipments nearly s5D0NcO larger The
net gain from the interior is the smallest since
July 6.
MONEY FOR CROPS Washington dispatches
say that inquiries already being received a.
the Treasury TO its ability to supply funds for
moving the crops. Most of these inquiries have
from St. Louis and Cincinnati. IL is earlier
than usual for such inquiries to be made. They
indicate n crop movement OF large proportions. rs
it is universally admitted that the banks which
arc called upon to supply the money move the
crops keep we'll advised and abreast OF the situa-
tion, Because of the prevalence of yellow fever in
the South much of the grain that found an outlet
in the Gulf ports will. it is thought be detected To
Eastern ports ST. Louis. for instance. which has
usually been able to take of herself with
slight assistance from the East. evidently thinks
that she will nc called upon for large sums of
money to move the crops. This is Indicated by the
number of inquiries being received from her banks
BAR IRON UP.-There has been Il general ad-
in bar iron prices the last few days.
In some producers have put up their quo
tations 81 90 Pittsburg. which is SS "A ton above
the official price Of 81 80 for 100 pounds. a manu-
facturer says that little il any business Is being
done basis below 81 hO. The advance bar
prices is due largely the rise In quotations for
scrap.
GRAIN ENPORTS.-"B BradStreetS'' reports tie
exports of wheat, including four for the week at
i,O4l 696 bushels. against 72S.314 last week and
1879 1913 last year. Since July l. t.S7S.64S bushels
against 6565. .ST2 last year. Corn. I013675 bushels
against 77362l last week and 800 last year.
Since July |. 4,7i77sO bushels, against e.5S3 9e9
last year.
RAILROAD EQUIPMENT ORDERS. ~ According
tn The Railroad Gazette" American Car and
Foundry has secured the following order from the
Chicago and Eastern Illinois Railroad: Two hun
dred and nifty dumping box ears, T50 plain box
cars and l.iO0 national coal dum9 cars To be de
Iivered in October and November. 1905 The same
company has ordered 100 dumping coal cars from
the Pressed Steel Car Company for January de
livery.
BIG STEEL RAIL ORDER.-The Tennessee Coal
and Iron Company has securcd d order for IS 900
tons OF steel rails from Southern railroad com
pany, II is understood that the contract calls
for delivery in the last eight months OF 1906 The
contract was made IA basis of s2S a ton. stand
ard sections. The $4,000 steel rail contract
secured by the Tennessee Coal and Iron COMPANY
guarantees steady operation for the rail plant OF
the company well into next year The rail- orders