New-York tribune., 1905-11-21
MINING STOCKS.
WALL STREET AND EXCHANGES

FOREIGN TRADING-Foreign houses dealt IN
10000 shares In the local market. buying 5000 on
balance. In London Russian bonds recovered more
than two points and consols were 4 per cent high
er. at SS7S Copper stocks noticebly strong,
and the mining department also showed substantial
Improvement In places The Russian situation
generally regarded reassuring and this
was the dominant factor throughout the list The
Berlin bank rate not changed, where some
good authorities had expected an advance. Money
was In good supply in London, although rates are
not expected to off materially, and should
remain firm well into December in anticipation of
the British treasury financing.
MARKET GOSSIP.-The movement in the cop
per stocks, according 10 Boston house. is directed
against the Lawson bear pool. which must have
peen hit in Smelters, If the proposed s0O00OO0
subscribed, which, however. a good many people
do not believe. Charles G.. Gates & Co. were re-
sponsible for the revival of interest in Mexican
Central. The stock has been sluggish for long
time past, but is Unquestionably well held. 1t has
suffered from the lack OF active trading interest
Traders professed to Standard Oil selling in
Union Pacific. although the house employed was
one so well known in that connection that it is
quite possible that IL might have been used for
effect. The buying Of Brooklyn Rapid Transit 4s
was said to be good Ladenburg, Thamann & Co.
took heavy block. The convertible feature is be
ginning attract attention. John II. Davis & Co.
and one or two houses with foreign connections
were rather unexpected sellers OF United States
Steel common at the opening, and to extent
checked the buying by traders The sharp advance
in Federal Smelling common was the feature OF
the early trading, and the preferred stock
also strong Vaughn & Hulst the early
buvers The Guggenheim following are said be
the power behind the movement They control the
property. Edward Sweet & Co. who have hitherto
been active the bull side, checked the advance
IN Reading with sales OF 5000 shares or more On
the opening advance in that stock there were indl-
cations OF profit taking and transfer OF specu-
lative interest to Erie and other issues which
have not advanced SO far. Morgan houses are
talking bullish North American. Rumors Of an
increased dividend were current in places but the
figures available do not show that the company is
getting any increased earnings from its subsid-
iaries. Western houses have been the principal
buyers in Louisville and St. Paul, but probably
now the least important part OF the bull ac-
count open in the former. Practically all the ac-
tive commission houses had the bull point on
Brooklyn Rapid Transit at the opening. Moore &
Schley and houses OF tho class buyers.
Wolf Brothers also took 10000 shares, and Phila-
delphia houses generally talking higher prices.
One Of the houses suspected OF doing business for
the Standard Oil interest but not often mentioned
in that connection bought some Amalgamated
Copper at the opening, but turned round later and
sold it rather freely.
JAPANESE LOAN AUTHORIZED.-The new
Japanese loan for $4,000 900 has been authorized or
this amount f25.OC0OG0 Will be issued at once
TWENTY-FIVE million pounds will be reserved to
provide for the conversion of the existing per cent
sterling loans or the amount to be issued now, t2
COO 900 has been allotted to Paris onehaf OF the bal
ance to England and the remaining f65OoO0O will be
divided between United States and Germany. The
new Japanese loan will bear cent interest anc
will mature in twenty-five with the privilege
to the japanese government of redeeming all OF any
part after fifteen years. The issue price IS not
officially stated but It said that II will likely be
in the neighborhood of 81 and interest. New-York
terms.
BALTIMORE AND OFIIO.-At the annual meet
ing of the Baltimore and Ohio j. B. Thayer, of Phil
adelphia was elected director, filing vacancy
on the board caused by the death Of Sutherland NJ
Provost Other directors reelected. There
were represented in person and by proxy 1.42OOOO
shares out Of total of $4,000 The directors will
meet soon 10 organize, and it is understood that
all the present officers will be reelected.
800" EARNINGS Observation-Disclosures OF
the Minneapolis st. Paul and soult Ste Marie for
the second week In November show gain OF Sl49Z
making from July 1 gain of S,155,2SO. comparison
being made with the same time last year