New-York tribune., 1905-07-04
WALL STREET AND EXCHANGES.

FOREIGN TRADlNG.-FOretgn houses dealt in
c5oOO shares in the local market all purchases. In
London corsoIs were steady and the foreign bond
n arket irregular within narrow limits. The
amazing situation in the Black Sea caused less
anxiety than might have been expected, even in
Paris. One OF the best features the improve
in the mining department. The Paris settle
ment seems to be passing off without incident All
indications point to easy money in Europe through
out July. unless something unforeseen in the inter
national political situation occurs to revive the
French demand for gold.
MARKET GOSSIP-The Philadelphia houses
took the most prominent part in the movement in
the coal stocks. Wolf Brothers were especially
active in the early advance In Erie. Philadelphia
is talking of a dividend the second preferred
which could be cheapIy declared and would prob
ably have considerable market effect. Japanese
AZ per bonds acted better than might been
expected as the new loan Of s5OO0oOOo is expected
to be secured on the tobacco monopoly. which is
also their security. The returns of the monopoly
than sufficient for the additional issue,
but the margin of safety is, Of course. reduced
The prospects Of early peace were perhaps the
more influential market factor At midday the
volume OF business had fallen off more than 60 per
cent from the activity shown in the first hour.
Arbitrage business finished early. and fOor
traders reported rather poor commission house
demand after the completion of the overnight buy
ing orders. Reported bank troubles in Kansas City
and other Western centres checked the advance.
Dick Brothers and Hollister & Babcock we're the
taking more than 5000 shares OF stock. The
in which the pool realizing absorbed after
the stock crossed par seems to have created a new
bull party. which is materially helped by TIE small
floating supply OF stock. The feature in Reading
in the afternoon was the heavy buying by Wasser-
mann Brothers. who estimated to have taken
rot far short of 2OOO0 shares. They had very
considerable support. professional and otherwise.
they the leaders OF the bull movement
which carried the stock from the hfties to par.
on the day before holiday. went home long OF
stocks in spite of the afternoon strength. II was
argued that the London market would not be diff
cult to advance even without support from arbi-
trageurs here.
UNITED STATES STEEL4-The exports of ma
teriaI by United States Steel Corporation con-
tinue the increase. and It is likely that total
shipments this year will be between 1.2OO 900 and
100000 tons Early estimates placed the exports
at 100000. A representative Of the United States
Steel Corporation says that the business OF the
American Steel and Wire Company continues brisk
and that daily shipments far in excess OF de-
liveres at this time last year. II crops turn out
a good expected. II is believed that 1905 will
break all records far production is concerned
No change in prices in the near future is contem-
plated
STOCK EXCHANGE MEMBER HONoRED.-
The members OF the Stock Exchange have present.
ed TO c. L. Cammann a loving cup in token OF their
regard for him and In recognition OF his long mem
bership the exchange, extending over a period
of forty-hve years. This Is the first time in the
history OF the New-York Stock Exchange that such
honor has been conferred upon a member who
has held official position. Mr. Cammann sold
his seat short time ago. and his firm has been
reorsanized. with his son. c. L. Cammann jr as
the senior member
AMERICAN STEEL FOUNDRIES.- S.-Consider-
able interest is centred In the American Steel
Foundries Company. owing to the fact that the
company purposes 10 do some financing in the inn
mediate future. AS stated by President Miller last
week. plan has been drafted. and IL approved
by the board Of directors at the meeting July s.
II will be submitted TO stockholders. The inten-
tion Is TO issue bonds. for which stockholders will
have opportunity 20 subscribe.
GREEN BAY "B'' BoNDHOLDERS' COMMIT
TEA committee made mp OF John H. Davis
Rudolph Kleybolte. George NJ. Pynchon and Jefrer-
son NJ. Levy asking deposits OF Green Bay
and Western Railroad "B' debentures. with the
United States Trust Company. They propose IN
due time To ask that the certificates OF deposit be
listed on the Stock Exchange. The committee Is OF
the opinion that the earnings OF the road warrant
an interest payment on these debentures and there
being 40 trustee they regard it as essential that