The Washington times., 1905-11-30
OPTIMISM RULES IN
INDUSTRIAL GROUP
New York Market Strong
Under Adverse Conditions.
CUT IN SURPLUS EXPECTED
Higher Money Rate Attributable to
Belief Of Banks That Reserve
VIII Be Rv5ucs5a.

NEW YORK. Nov. 80. - Irregular as
yesterdays movement of prices was.
with brief fiurries. followed by quick
reactions and equally sudden rallies.
and uncertain as was its tone, album
dant evidence was afforded in the
dominant note Of optimism during the
final hour that sufficient vitality re-
mained 10 carry the Industrial issues to
even higher levels That such showing
could be accomplished in the face of the
advancing call loan rate and an exten-
sive and growing expectation Of gold TO
Mexico, fell little short of being ex-
traordinary. In the marking up Of call
money at per cent. which was an Incl
cent Of the afternoon. the banks inti-
mated their belief Enthusiastically that
this weeks return would reflect a
trenchant cut in the surplus reserve-a
conclusion which passed unheeded in the
market though the lessen conveyed -
the heavy transfers of currency to New
Orleans and San Francisco and the ship
naent of more than S1.5oo.00o in gold to
Mexico was certainly plain enough
More Gold for Mexico.
Mexico is getting gold from the United
States now, and it is plainly to be seen.
from Information originating in a re-
liable financial circle. that the sister
republic viii take millions more than
that already sent her. The metal drawn
from the assay Office day before yes
terday BY the Fourth National Bank
lsg50ooo) was shipped directly To the
city OF Mexico, and arrangements were
made yesterday by another foreign ez-
change interest for the withdrawal of
sl.oooo00 in gold which viii also fnd
its way 70 the same point.
This total of S1750O00 for two DAYS
however. does not represent all that is
bound for the Mexican capital Nego-
tations were under way Yesterday Tor
heavier shipments. bat when they may
be made is not at present a certainty.
japanese Loan Books Close.
In CONSEQUENCE of the heavy overs,lb-
soription OF that part of the SIPS .090.0 .0oe
japanese loan allotted to the United
States, kuhn, Loeb & Co closed their
books To subscribers yesterday after
noon at ociock- As a matter of fact.
the amount. Sl6,2o5,Oo0- was more than
taken before the lists were opened here
on Tuesday. leaving Boston. Chicago.
and other cities 10 De heard from TeIe-
graphic advices from those and other
cities are TO the effect that s1bscrir-
tons there wiil total more than $40 o00.-
Co Had S50,09o, coo been allotted to tl4f=
readily.
IT Is the policy of the issuing Arms
Kuhn, Loeb & Co. the National city
Bank, and the National Bank Of Com
merce-to keen the listo pen. even r.
the amount is heavily oyersubscribed
IA New York, for the purpose Of giving
out-of-toWn interests q chance, ana
thereafter TO make the allotnlents ac-
cording TO their own ideas OF the fitness
of things. Heretofore they have dis
erisninated in favor OF investors. as
against speculative subscribers. ana
they propose 10 do the same this time
Therefore. the small subscribers win
undoubtedly get the fun amounts on
posite their names, while the large sub
scribers VIII obtain a comparatively
small percentage of what their bids
call for.
Il IS probable that the United States
part Of the loan was oyersubscriled az
least fifteen times The subscriptions
We're mede az eighty-seVeu and Interest.
but sales on the curb when issued.
brought per cent premium. This
means. OF course with interest
Paid Ten Per Cent.
The Gold Coin Mining ana aTn1fr.,
Company has paid dividend of s10ons,
from the proceeds OF the saIa Of cola
LON properly me dividend Yves 4 fIsa
rate Of 10 cents share and was fh-
thirty-third paid by the company. whica
during its history has dsbursed In dfvI-
dends approximately $1.S30050
Between $150 900 and $4,000 was maid
by the Granite Company for the cold
Coin mine The deal included the famous
Gold Coin shaft and adjoining property
70 the extent of about fourteen acres
The Gold Coin Company stin holds
about I35 acres Of choice ground. incIud-
InS the Monte Rosa. Morning Glory. and
North Gold Com property.
According 10 G. G. Hamiln, treasure
and general manager OF the Granite
Gold Mining Company, the acquisition
Of the Cold Coin mlre means bigger
development for both the Granite and
Gold Coin properties,
Yesterday there We're indications that
negotiations looking to ,he merger CG
the two great lead corporations, or
rather the acquisition by The representa-
fiVes Of the American Smeltins and Re
finine Company. Of nc National Lead
Company, had been resumed bilt no
definite statements were given out by
the F. rifles IN interest, who maintained
a nuser reserve However. no oeniais
were given Dut
1T was reported yesterday that the Of
nelais - the United Lead Company Wers
Inclined 60 giYe better terms than here
fofore, but this WuE rot taken t0 moan
that merger was among the early pos
sIbiIities.
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