New-York tribune., 1905-11-30
MINING STOCKS.
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES.
FOREIGN TRADING-ForeIgn houses dealt in
upward of 20 900 shares in the local market selling
5000 shares on balance The heaviest selling was IN
Missouri Kansas and Texas. In London money
was in fair demand. Consols We're higher at an
advance OF 1tc, but Russian bonds were lower.
Copper stocks were heavy.
MARKET GOSSIP.-PeopIe's Gas was talked Of
for rise. It was reported that some understand
ing had been reached with the municipal authori-
ties In Chicago which would prove satisfactory to
the company. The strength in Brooklyn Rapid
Transit brought out rumors of a coming consolida-
ton with Metropolitan Street Railway. No au-
thentc Information on this point was obtainable
The railroad issues advanced on more favorable
traffic statements Reading being the only eXcep-
ton. The pool in this stock IS understood to be
still engaged in taking profits. The official an
nouncement that ST. Paul would build to the coast
was accompanied by what was considered good
buying of the stock Railroad men generally are
understood to look upon this extension as a favor
able development Copper was exceedingly strong
on expectations of a further advance in the metal
The general talk in the Street is that this stock is
good for par Traders were inclined to even up, IN
view Of the holiday tomorrow, and the profes-
sionals generally were disinclined TO make new
commitments, in view Of the fact that Congress
will meet next week The Gates following is
derstood to have realized profits in the Southern
iron issues but it is maintained that the move in
these shares is not yet over. tip said to have
originated in the Gates office was circulated to the
effect that Republic Iron and Steel preferred would
be marked up. The equipment issues showed great
strength after period OF inactivity Speculation
in these stocks was stimulated by the continued
heavy demand for equipment. Traders reported
that the market was honeycombed with stop loss
orders which they were trying to reach. These al
tenpts were not however. generally successful
The low price of Tennessee Coal and iron was made
by the specialist in the stock the execution OF
stop loss orders Brokers who tried to execute orders
in this issue found no market for the stock, but
later on support was rushed in and there was
sharp recovery from the low
DELAWARE AND HUDSON AND UNITED
TRACTION COMPANY OF ALBANY.-The offer
made in the interest of The Delaware and Hudson
Company to the stockholders of the United Irac-
ton Company of Albany to purchase their stock
At $50 a share met with practically unanimous
acceptance. Adyices from Albany are to the ehect
that more than 90 per cent Of the total S50oGGO
outstanding stock has been deposited within the
time limit which expired yesterday. This will IN
yolve the issuance OF the total amount OF new
securities provided for the financing Of this opera
tfon and which were recently purchased by Speyer
g. co and the National Commercial Bank OF Al
bany namely, S5,00OOOO per cent guaranteed pre-
ferred stock and S25O0oO0 S2s per cent guaranteed
debentures.
CANADIAN PACIFIC EARNINGS-The October
earnings of the Canadian Pacific Company In
creased in gross $97S sos and In net S707.s67 The
IA
gains In the last few weeks. and the increase Is
particularly significant. IN view of the fact that
comparison is made with period year ago, when
traffic receipts were unusually heavy. The interests
who have been behind the movement in Canadian
Pacific stock in the last few months have not sold
their holdings. and they now predicting price
Of 900 or more for the security before many months
go by.
TRUST COMPANIES ASSOCIATION = the
Trust Companies Association OF the State of New
York Will hold its annual meeting in this city on
December Is. George w. Young is the president Of
the association. and its other officers ars Vice
presidents Otto T. Barnard. Theodore T. Miller
and Grange Sard: treasurer Edward Johnson; sec
retary o. F. Gubenan; executive committee. John
p Borne Henry c. Deming, Julian D. Fairchud
E o. McNar, Levi P Morton, william Noting
ham, Frederick P. Olcott, George H Southland and
Seymour Van Santvoord Under the constitution
Of the association no officer Is permitted TO sue
ceed himself so that new officials viii be chosen
throughout. In the evening George w Young. the
retiring president, will entertain the presidents Of
tbe trust companies OF the state. well many
prominent bankers. at the Hotel ST. Regis on
which occasion addresses will be made by speakers
Of national reputation
NFw-YoRK CENTRAL PASSENGER AGENTS
sECRETARY.-C. ]. Laing. who for the last eight
years has been acting the private secretary to
George n Daniels general passenger agent of the
New-York Central lines, viii. on Friday next. when
Charles F. DAILY. at present passenger trsric man
ager of the New York Central lines west OF But
faIo and who recently was appointed passenger
traffic manager Of the lines east Of Buffalo. with
headquarters in this city, assume this same posk-
ton as private secretary to Mr. DAILY Mr.. Laing
has been Identified with the New-York Central
Railroad for the last seventeen years hlling var1-
Gus positions creditably
BANKS LOSE AfONEY.-SInce last Friday the
local banks have lost on their operations with the
sub-Treasury upward of 100000 The chances are
that the bank statement which will be issued on
saturday will show a reduction in cash, but It is
likely that the Clearing House institutions win
be able to reduce their loans TO an extent which
will bring about an increase in the reserve above
legal requirements. The Sub-Treasury transferred
for the banks yesterday $4,000 10 San Francisco.
LACKAWANNA EXTRA DIVIDEND. The
Delaware I.ackawanna and Western Railroad
Companv has declared extra dividend OF 10 per
cent 70 current stockholders The director of the
conpanv states that the extra dividend is Christ
mas gift the same declared year ago.
and he expects that such distribution viii con
tinue to be made in the future.
GOLD SHIPMENTS TO MEXICO-It was
learned yesterday that the $4,000 gold engaged on
Tuesday for shipment went to Mexico and that
an additional 81 100000 will be shipped. The gold
goes because Of the phenomenally high prLce at
which silver is selling, and bankers familiar with