New-York tribune., 1905-11-25
MINING STOCKS

WALL STREET AND EXCHANGES
ropF1cN ,rRADING-Foreign houses sold zo,VV'
.s.ros on balance in the local market IN l1ohuoH
,o,eols we're heavy early, but rallled 10 INC P
s,.- nights close while Russian bonds were uh-
sgaa Jananese issues were rather heavy on Ihe
60 e,- issue Copper stocks were firm but
- mining department inclined TO sen Oh
,,ov r-as in fair demand In London, but Is not
.+o,,qbt likely TO harden foreign money Is sun
,.,ng lent here Foreign bourses generaNy HIe
having great deal of attention TO the JOINT eIo
If the movers to coerce Turkey, but are apparently
ro,s tranquil on the Russian outlook
MARKET GOSSIP.-The bull point on the trao-
49, ,rae current before the opening. 1t Is note
rortbv that houses with political connections nave
t..n b,vinC Metropolitan freely on TINS advance
II Is rot improbable that they were snort ioi ,nei-
-sforoers of both Metropolitan and Metropolitan
c,,,ri,fes on the results Of the election. One Oh
,ss rsports current was that James R keene' VINO
ho5 hitherto been bullish on the market, was
seller Of stocks in London. American Smeluhs
showed weakness in the early trading mainly on
renor,s that financial institutions were exercising
nreesDre on further pool speculation by discrlTn-
Inating against the stock as collateral IN loans
Federal Smelling. however. which appears 10 De
in the hands OF the clique did not act oaoIy.
u is doubtful If the Western houses VINO nave
bsen selling ST. Paul altogether like the threatened
bridlng TO the Coast Il seems to mean the COM
re-.iva building of which Z. H. Hartman spoke
so strongly in the recent past II was reported
that one prominent hnancier had Hquidated q me
Of 5000 shares of American Smelters. ana TINS
was thought to account for the early weakness III
the stock The decline encouraged some short sell
ing hut il is limited that the short side in this
stock is fraught with danger. The advance In
North American was due 10 pool manipuiauoii
The property has excellent prospects. but there Is
nofhdng in the earnings TO warrant an advance at
this time. nor is there any reason TO believe tlaI
other developments OF Importance are pending. A
house which is frequently associated with STANDARD
Oh interests admitted having taken profits IN Cop
per but was inclined think that II had made a
mistake II is felt that the continued strength in
the raw metal market must influence the price OF
the security. It was expected that Union Pacific
would break through the high record made in the
spring and its failure to do So combined with the
ru.nor that the annual report would not be pub
lished until next week created the impression that
the Kuhn, Loeb interests were against big ad-
vance in this stock at this time. Commission
houses report substantial increase in public
PARTICIPATION The rise in Tennessee Coal and
Iron was due 10 heavy purchases by the Gates
contingent.
BANKS GAIN CASH-The reported movements
Of currency this week indicate gain in cash held
By the banks of S3050,oGo. They received from the
interior SS24Oo and sent TO the interior 1888, 400
including $4,000 transferred through the Shb-
Treasury San Francisco and S1,392,0 900 national
bank notes sent TO Washington for redemption
The gain from the interior was g 600 Receipts
Assay Office checks, $3.50 I00 on San Francisco Mint.
checks $1,000 on Seattle Assay Office. checks.
&@l Ordinary disbursements by the Sub-Treas-
ury were S9-275.7ol Payments by the banks to the
sub-Treasury for customs. internal revenue. per
cent fund, etc, were S2O,o9s.OOo The loss Sub
Treasury operations proper was $S2oS0o. The total
gain fTom the interior and new gold $3S7O,3oo-
DednctinE the loss on Sub-Treasury operations
proper Of SS2o3o0, the net gain was S0o0'O0 1t is
eVdent that the tide has turned, and that from now
on currency will return to New-York from the in
terror in more than sufficient volume for the re-
nainder OF the year to offset the future require
ments Of New-Orleans and San Francisco, which
are the only points likely 10 need currency on
account Of the crop movement.
INTERNATIONAL PAPER.-Internationa Paper
hss awakened 20 of its own intrinsic merits
and some interests are now encouraged to believe
maj the stock, both the preferred and the common,
may show in no distant future long advance IN
pfice The stock has lain dormant on the market
4uf long while, until popular preJudlce has
grown up regarding it. 1t is true that the con-
'.olang interests this company have rehglooslg
is1Eslned from making any market movement, or
even encouraging the same. for long while 1t Is
'sue that the company has had many things to con-
'sha Eith-adverse circumstances. both by foods
eNa nre and extra competition But one by one
lhese adverse factors have been disposed of. and
7 International Paper Company to-day, its friends
aver is IN better condition than 1t has ever been
before
JERSEY CENrRABs PRosPERITY.-The Jer-
seF Central October statement showed that operat-
Ng expenses were maintained at fun figures There
&c large reduction IN fixed charges ana taxes
NIcn added 10 the substantial increase in net
e'-lnss' gaFe an increase in the surplus over
eeaTEes of 7s.7s per cent The company for the
-sl iour months of its fiscal year reported an IN
~eese In surplus over charges Of 4l1o per cent as
- DoHpared with tie corresponding period last year.
-He increased prosperity the Reading Company
~41 The great e made by New-Jersey central
-pieo with =. --creasing profits OF the fteaolhs
= rs-'ksFues themselves strengthens the loea tHAt
s.e - Reading management may make an increased
sStootion 70 stockholders in 1906.
BALTIMORE AND OHIO OFFICERS--At the
meeting OF the board OF directors Of the Baltimore
Ua Ohio Railroad Company yesterday the present
~ecatIFe officers OF TIE company were reelected
p1eiy; Oscar c. Murray. president George =
@adolph. first vloe-president; Hugh l. Bond jr.'
'0ae vice president and general attorney; Georse
= Potter third vice-president: J. v McNee!
III u yice-president and treasurer. and :. W
:, ,'eioTa. secretary This is the beginning OF nj.
Trays third term as president of the company,
Ing previously been one of the receivers anu
- wee president n charge of traffic. success
.ey. Tor nearly eight years. The annual report IS
80 lSst Monday fully reflects the character Oh
- ma eagement OF the property.
,soLlhTB FINASCIERE FRANCO-AAhNl-
- s-sE-cable adyices received in this city an
-ooAee tie listing on the Paris Bourse OF the
Hsles Of the societe Flnanciere Frareo-Anseri-
THIS company IT VIII be remembered was
Ae Inst one TO be organized in France for She PET
ss OF Hvestfnx in American securiues 1AS