New-York tribune., 1905-08-04
WALL STREET AND EXCHANGES

FOREIGN TRADING G.-Foreig1 houses vera M,
active In the local market dealing in less than
S.V" shares about evenly distributed ConsoIs con-
lilued heaVy' and the uncertainty OF the political
outlook influenced foreign bonds The mining mar
Ket was distinctly depressed. and there was
Iurther check TO the advance In the copper stocks
The Bank of England did not change its rate and
showed high proportion of reserve to liabilities
although there was a noticeaby heavy loss OF
bullion the week Its position is yerv strong an
present and seems to indicate that the usual au-
tumn advance IN the bank rate may not come be-
fore the end OF September
MARKET GOSSfP.-It is noticeable that houses
with an active business are rather conserva-
tive and not following the advance in the
various Southern railroad issues Apart from cot
ton crop reports. they do like the yellow
outbreak One of the most active houses tells its
customers that both State and federal authorities
are Understanding the seriousness of the posi-
tion in that respect. The buying of Reading was
by Charles G. Gates & Co. and Chapman & Sea-
man. 1t seemed TO have common origin, but the
STOCK acted remarkably we'll and il Is possible that
tne buying Is better than it looks. There has been
very considerable accumulation of stock within
would indicate that all the speculative supply had
been absorbed The feature in the early trading in
Union Pacific was the buying by L. ". Savin &
Co They were large buyers Wednesday prob
ably to the extent OF 5000 shares or more. The
movement created quite a substantial floor follow
Ing, where the stock has been lately rather popu-
lar short sale. The movement in Southern Rail-
way was resumed early and the advance extended
to Atlantic Coast. The return of Mr.. Morgan was
the most tangible bull argument quoted 1t is said
that Mexican Central has been well bought recent
ly and is likely to be carried up with any general
Improvement in the market Talk of Baltimore
and Ohio is more bulllsh than it was and traders
who took profits to have been buying the
stock again. 1t has been noticeably firm when the
rest of the market was inclined to sell off. There
is not much of it in the Street and professional
shorts who have covered say they think the
scarcity is genuine. Word has been passed around
that there are some squeezable shorts in Rubber
common On the advance in Louisville. Atlantic
Coast and Southern Railway there was some dis
trbution of Union Pacific, ST. Paul and stocks
likely be affected by the government crop re-
port on the 10TH 1t doubted that the
showing for July will be favorable in the main.
but the Western wire houses reported a decidedly
conservative tone among their customers
NORFOLK AND WESTERN.-Norfoik and West
ern has reported earnings for June, the closing
month of it's fiscal year. For the month gross
earnings increased 81 per cent. net increased 14S
per cent and surplus increased 3.S per cent. For
the year ended June 80 gross increased 5.S per
cent increased 1913 per cent and surplus de-
creased about per cent. The company's fixed
charges for the year show an increase of s1.0O.oo
largely the issuance OF additional bonds for
improvements and new equipment The surplus
for the year after charges and preferred dividends
is equal to per cent the s6600.01O of common
stock. or practically the same amount that was
earned on it in the preceding year.
DUN's CROP NEUTRALITY-SUSPICIOUS. to ''Dun's
Review from branch offices of r. q. Dun & Co.
located in the chief agricultural sections indicate
that a large quantity of wheat. oats and hay
secured in the last week and rapid progress is
being made with harvesting and thrashng. Most
of the winter wheat is beyond danger, and little
black rust is found spring wheat States although
the less dangerous red rust is prevalent 10 some
extent Corn is recovering lost ground. but is still
late and exposed to injury. Irregular conditions
prevail in the cotton belt, very encouraging
reports being offset by damage from rain
STOCK TAX DECREASES.-The total receipts
from the sale of stock transfer tax stamps July
were sSOS 790 so. This is considerably less
than the receipts for June, which amounted to
S440. .299 so.
GREENE GOLD.-At the offices Of the Greene
Consolidated Gold Company it is admitted that the
mine has been closed. A representative of the
company says this is the rainy in the dis
trict where the mine is located. and that floods
forced a suspension of operations The rainy sea-
SON. said he, starts between July Is and August
and continues until September We expect 10
have the mine in operation again within two or
three weeks"
NATION AL I.EAD.-The National Lead Company
has filed papers increasing it's capital stock from
$50 600 600 to $4,000 600. This increase was au-
thorizsd by the stockholders few weeks ago pre-
sunlably TO absorb the United Lead Company.