New-York tribune., 1905-07-19
MINING STOCKS.

FOREIGN TRADING.-F'oreign houses dealt in
10ooo shares in the local market selling on bal
ance- In London consoIs were rather heavy At
the opening. but hardened later. The mining de-
partment firm. Russian bonds continued the
heaviest feature Of the foreign bond market large
ly influenced by the fear that the Russian repre-
sentatfves At the peace conference would not ne
given effective power to make terms. Money
easy abroad. and should continue SO. with occa-
sonal demands for special purposes. up to the be-
ginning Of September at least. That is about the
date when the Bank of England usually advances
its rate. and there seems no reason why it should
do so any earlier than usual
MARKET GOSSIP-Inquiry among the active
commission houses shows that the outside specula-
tive account is limited to very few stocks. There
are still some old short accounts open in the United
States Steel preferred. Union Pacific and perhaps
little in New-York Central A few of the commits
sion houses we're also borrowing Missouri Pacific
for their customers There Is some outside bull
account in United States Steel common and pre-
ferred, Southern Pacific and Erie There is quite
a fair sized account open in the last named stock
and also in Brooklyn Rapid Transit PhiladeI-
phla houses had very fair buying orders in Penn
sylvania and reported that there was not much
of the stock in the market. As matter of record
it may be stated that rumors are current through
one OF the active wire houses that steps are to be
taken to make the guarantee on Metropolitan sbso-
lutely secure. There was considerable underlying
strength in the United States Steel issues-which
however. failed to respond to the important news
that the price of pig iron had been advanced so
cents a ton by some OF the principal makers espe-
cially in the South This is. however, one of the
most Important trade developments possible at
present. The Hoffman House crowd was supposed
to have sold little Union Pacific but is still bull
ish on Southern Pacific
INTERNATIONAL STEAM PUMP COMPANY
The 100000 OF per cent debentures recently
issued and listed the exchange by the Interna-
tional Steam Pump Company Is part of an issue
OF $.5000C0 authorized in 1903. of which s2500OC0
issued. The total authorized amount is now
outstanding and listed. These debentures are con-
vertible into common stock the basis of a $1,000
bond for ten shares OF stock. The proceeds Of the
100000 were used for the purpose of furnishing
the money expended in connection with the COM
pletion OF the Harrison plant and provide addi-
tional working capital
RAILROAD EARNINGS INCREAsE-For the
second week in July railroads reporting earnings
show. almost without exception encouraging gains
over the same time a year ago. Canadian Pacific
presents a gain OF $47 900. Buffalo Rochester and
Pittsburg gain of $21.213, Denver and Rio Grande
gain of s5210O. International and Great Northern
q gain OF s4No. Missouri, Kansas and Texas
gain OF sHS13. and Texas and Pacific a gain oc
1885, Wabash the only road reporting yes
terday which showed loss.
ILLINOIS CENTRALA-nHnois Central directors
will meet to-day to act on the semi-annual dtvi-
dend it is thought that the stock will be placed
sQuarely per cent basis
ADVANCE IN IRON PRICES-The sloss-shef-
field Steel and Iron Company and the Alabama
Consolidated Company have announced an ad-
vance of 80 cents a ton in pig iron. The Sloss-
Sheffield has raised the price from s11 to s11 80.
and the Alabama Consolidated from sl1 Is to su IS.
which is equivalent to advance of 50 cents a
ton.
MOVEMENT OF MONEY-The local Sub-Tress-
ury paid to the banks yesterday $4,000 against
gold deposited in San Francisco. The Sub Treas
ury transferred for the banks 100000 to New-Or-
leans.
MISSOURI, KANSAS AND TEXAS.-The Mis-
souri,. Kansas and Texas Railroad Company has
applied to list a.4s4OOo first refunding mortgage
per bonds OF 20al