New-York tribune., 1905-07-01
WALL STREET AND EXCHANGES.

AO0NA@
shares in London Consols 1s per cent lower
at ss7s and Russian bonds We're weak Japanese
bonds were the strong exception. Three snali
failures in the Kaffir market added to the general
depression. but the governing factor in the Euro
pean bourses at present is of course the general
Russian situation particularly the very serious
development at odessa Money was naturally III
some demand the last day of the hall year. put
is remarkably easy. and would probably nave haa
favorable effect with tranquil political conditions
MOVEMENT OF DIONEY.-The reported move
ments of currency this week indicate a loss OF
ST. 23S 400 in cash held by the banks They received
from the interior s5,577900. and sent to the IN
terror 1852 SO0 including s22SS000 national banK
notes to Washington for redemption. The gain
from the interior S2,015,600 Receipts OF ne"
gold were 81 227,6OO namely, $67700 on New-York
assay office checks 1926, 500 San Francisco mint
checks and telesraphic transfers Sl'Z6i'40 on
Seattle assay checks Gold exports were SSSzo'-
600 in bars Paris. Ordinary disbursements bv
the Sub Treasury were $685. 400; payments oy
banks to the Sub-Treasury for customs lnternal
revenue, 3 per cent redemption fund.- etc. were
81 sos. 400 The loss Sub-Treasury operations
proper S2.1530OO. The total gain from the IN
terror S20i56GO and new gold S227.6G0 was S4z4S'-
200 deducting this from the loss by gold exports
S32sGOO and to the Sub-Trcasury. $2.15SOOo In ali
S. $50 the net loss was 81 23S 400 Gross receipts
from the interior were only SS7.700 less than last
week, when they were the largest since fepru<ry'
showing a continuation of the movement OF cash
to Ney-York to be disbursed in July for interest
and dividends.
MARKET GOSsIP-strong. Sturgis & Co. were
the principal buyers of Reading. and had goou
deal to do with making the stock sell over par
again It was rather noteworthy that WasSerrl<ahh
Brothers who have been the most conspicuous
buIls of Reading for months past, had stock 1or
sale on advances The buying in Erie secono pre-
ferred was by Strong, Sturgis q Co.. ana fllaue
more activity in that issue than there mas oeeh
for some time Dividend talk seems reasonable as
F0r he
would be only $4,000 All the active traders ]oleu
in the movement in METROPOLITAN Baruch' Coh'en'
and other floor leaders were all fohoWlns tne "u
vance finding very little stock IN the Hdrhee'
BROOKLYN Rapid Transit sympathized ana was "u
vanced without difficulty. The Brady pool Is proo
ahIv unloading but its usual method Is TO advance
prices while doing so. Strong Stursls " a.,
about the heaviest sellers OF Union Z aoiio - tn
afternoon Traders thought the reahzhg up0l1 ~
whole was well taken, considering the halro"HeSS
of the market II. E. Eckstein, the speca4lSt' was
apa{n the principal seller of the Erle pIeIeI49u
issues The best influence in BROOKLYN f'"pu
sit throughout the day was the sho"ihs u So.
mer earnings. 1t created better puolc n'ei7
IN that stock than almost any other active Lssu
- 1EvsT,ONEr nv TEL F-P9ONE COMPANY.-Ffsk &
pohIrson have purchased from the keystone Iele-
phone Company of Philadelphia Sf'oo'V'V ou' % -
authorized issue of s1O00OOOO OF It's nrst hoi
per cent thirty year gold bonds Inc fAey So
cononanv began business July 1, lStS anu Is up
s~a+irg under a perpetual charter from the state
of Pennsylvania, which covers all counties III er %
xvIvania and all other States OF the Ciloh
oharter provides for the TRANSACTION Oh any Du
ness in which electricity or through wires may
he applied to any useful purpose 1t has also per
-,+,,aI franchise from the city or Phladelpilld'
Neither the charter ror the FRANCHISE contains any
restrictions as to rates. The company o"HS eiA
+aIenhone exchange buildings, built espeCl1iy ioA
telephone purposes. The company also OWNS an
extensive conduit system, having capacity OF
IN 200 5A duct feet located in 9 miles OF streets
The authorized bonded Indebtedness or the COM
nanv consists Of SO 100000 first mortgage per cent
thirty year gold bonds, interest upon Wnlch WIN Oe
Maid free of tax. The proceeds Of the Sh0V0O OF
bonds 1yhich Fisk 6. Robinson have purchased
clear VI all the floating Indebtedness Of the com
pany and provide sufficient working capital VI
the authorized issue of bonds S250O00 is reserved
for the purpose of acquiring the securities OF other
telephone companies.
AN INTERNATIONAL STEEL. RAIL POOL
The United States Steel Corporation it is reported
has, With foreign manufacturers, formed an inter-
national steel rail pool and made division of foreign
markets The result is that rails that could be had
a month ago at so ton. delivered at Vera Cruz.
cannot now be purchased for delivery the Mexi-
can seacoast at under $2s so ton. 1t is under
stood that the Mexican market has been given over
to the Belgian and the English manufacturers.
AMERICAN STEEL FOUNDRIES.- General
Charles Miller chairman Of the board and president
Of American Steel Foundries says that 'the Amer
lean Steel Foundries management has practically
agreed upon plan for financing It's cash require
ments. The plan will be perfected before the next
regular meeting of the directors which will be
held on July g. and. If adopted, viii then be made
public" Under the plan. between 100000 and
50 100000 will be raised to provide additional work
ing capital, the companys business having in
creased about 800 per cent in the last year. to
off a loan of 81 10000. made on account of the
purchase of the Simplex Railway Appliance Com
pany and to meet the cost of certain construction
work.
GRAIN NEUTRALITY-SUSPICIOUS. reports the
exports of wheat, including -four. for the week at
s 6a bushels against 975. So last week and 2566S2
last wear: since July /, e. 427.760 bushels against
17 20 last year Corn. 126664 bushels, against
111O356 last week and 1420172 last year; since July
/ rs, seoS bushels against 67,O05.6S9 last year.
SOUTHERN RAILWAY EARNINGS.-Earnings
of the Southern Railway for the month of May
show an increase in gross of S1SS3 and an increase
IN NET Of S4Os53 Traffic officers Of the company
report large tonnage in most lines of freight and
axceIlent prospects for heavy movement Of gen.
aroJ ,7ercha ndse in the balance of the year.
UNITED STATES RUBBER--The General Rub
ber Company, which is a subsidiary company of
tba Tinted States Rubber Company, through which
the latter company purchases it's crude rubber has
sold 50 ten-year ~ per cent deoenture PONDS
10 New-York banking interests.
CHICAGO AND EASTERN ILLINOIS BONDS
ROTTGHT-Redmond & Co. and J. & w Seligman
G. % have lust purchased from the Chicago and
Eastern Illinois Railroad Company S5,0o0CO0 of its
hfty wear per cent refunding mortgage bonds
These bonds are part of authorized issue of
$50 cOOoo of which $34 $4,000 Is reserved to retire
prior liens and a5,S74OO0 for improvements and ex-
tensions under restrictions Of the mortgage. The
s5oooO 600 block sold to Redmond & Co. and ]. & W.
Segman & Co. will be issued Immediately for
porate purposes The Chicago and Eastern Illinois
has paid dividends 1888. The surplus applica
BILE to dividends on the common stock for the year