New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-12-21
WALL STREET AND EXCHANGES.

TRADIN(.-London dealt IN about
5000 shares Of stocks in the New-YorES market,
about evenly divided between purchases and sales.
MARKET GOSSIP.-Union Pacific was again the
leader. The talk Of buying for voting power is
disposed of by the inactivity of preferred stock
which is more suitable for the purpose Tennessee
Coal and Iron sold off easily. There is no reason
to suppose that any bear account Of consequence
remains uncovered. Amalganated Copper advanced
buying by A. Upper & Co., Charles G. Gates &
Co.. Post F1agg and other houses recently identi
fed with the long side of the stock Anaconda
made a better showing. although traders slow
to appreciate the importance OF the new copper
discoveries In the mine American Sugar still seems
to have a Washington bull account open In It.
Lower Wall Street Is bush on trade conditions
and asserts that the coming year will be the
profitable in the company's history. One Of the
active houses credited with trading for the New
st. clique thought to be covering shorts In
Reading and Annalganated Copper. Dick Brothers
were the leading buyers IN the advance in St Paul
and bought 5000 shares Wolf Brothers
among the sellers, and also sold stocks rather
freely around the room. noticeabIy Arnalgamated
Copper, New-York Central and Union Pacific.
There very little real activity the pub1iea-
ton of the statements of the Vanderbilt roads.
They came out at time when the market had
begun to show disposition to contract for the
holidays than It has hitherto done. A. Loeb & Co.
were again buyers of Mexican Central. They took
about 5000 shares on Tuesday. and It their
buying which started the story OF Guggenhein
interest in the road They have been prominent in
recent movements in the Guggenheim stocks and
were especially in National Lead when the ad-
vance there started. Strong. Sturgis & Co, Ed
ward Sweet & Co. and other active houses
heavy buyers of Union Pacific at the opening. The
character of the buying created very fair follow
ing among the traders. but Of the latter
thought that long stock came out after the first
advance. Moore & Schley's selling of New-York
Central attracted some notice the floor. The
action of Southern Pacific has been disappointing
to traders bought 1t the idea that it should
share the strength of Union Pacific There is
persistent supply of long stock attempt TO
rally it Word passed around that United
States Steel was to be up by the Morgan fol-
lowing before the end Of the week. in order TO give
a Christmas tone to the market and to stimulate
outside following Arbitrage houses sold stock be-
fore the close detecting realizing for New
York on the curb in London, where active mar
ket for any stock developed there. They took the
view that there was not likely to be any buying of
consequence the other side before the holidays
G. G. Gates & Co sold all around the room in the
last half hour.
ANACONDA-w B. Orem State Mining Inspec-
tor has made an examination OF the strike
on the 2000foot level Of the Anaconda mine
which, he says. is the biggest and richest copper
strike ever the Butte district re is all OF
fifty feet wide and in places high as 40
per cent copper, the general average being about
Is per cent. This will average OF 300
pounds of copper to the ton Of ore The strike was
made on the main ledge Of the Anaconda. but II
veins which the company has been mining In the
upper levels. The next opening above is on the
2OO0-foot level and It is believed the rich BODY
extends up to the 20oO-foot level and that IT
Will widen with greater depth below the 22W-root
level. The company will at once run anotner
cross cut on the 2,4Oo-foot level. which will give
400 feet OF stopping ground the vein
JAPANESE BONDs.-ConsuI General Uchida- OF
Iapan announces that the japanese government
will call for redemption the 10oOooo00 yen OF per
last AI1rjl
excheouer internal issue. They will be redeemed
at par-4A0OoOo0 yen n March. 100000 IN April
and 100000 in May. The money for redemption
has been secured by the sale OF per cent ponds
In Paris London and New-York
rsErTFTT E!FIFyM STEEIA-The Bethlehem Steel
CORPORATION now has on its payroll loo men II rs
expected that when the extensions are competed
which will be IN about two years. the corporation
Will employ in the neighborhood OF 2Soo men. 1t
DC said to he the purpose OF Charles NJ Schwao TO
mako the Bethlehem the largest individual steel
plant in the world.
AMERICAN sUGAR.-A sugar interest says:
.-The American Sugar Refining Company has in
vested a large amount of money in the beet sugar
industry in the west without increasing its capt.
talization a dollar and without borrowing any
money The company carries both Its raw and
refined sugars on its capital. and ut the same
rim. loans millions Of dollars in the Street"
CHICAGO AND NORTHWESTERN.-Pr
F5ughitt Of the Chicago and Northwestern says:
1.-The Chicago and Northwestern Railway Company
is not engage in extending its line 10 the Pacific
coaat nor is IL behind any other corporation en-
aged in such enterprise
CORN PRODUCTS-It is stated that since the
decision early this year to discontinue the dividend
DEVELOPMENTS tina business have been such as
to suggest renewed payments to stockholders IN the
near future Business has been good. in common
with other lines. and the large crop Is favor
able factor but the competition OF the Independent,
producers appears to have been strong enough 70
offset these advantages in large degree. The com
nany is stn handicapped by the expense of carrying