New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-21
wAIL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt IN
% 600 shares in the local market. buying 9'Vu on
baIsnce In London consos were frrner, and the
general market steady and rather featurelesS'
with the exception of the copper Stocks which
were weak The volume of business in all depart
ments was rather light. Money is the dominant
factor in LONDON. according to the cables ana d
good deal turns on the action Of the Bank Of Eng
land TO-DAY Chances rather favor an advance in
the rate in view of the demand for gold from all
quarters but it is possible that the bank may take
no action until the following week 1t is thought
that the issue of treasury bills fixed for THURSDAY
might be prejudced.
MARKET GOSSIP.-The movement in Canadian
Pacific started in London. where the price was
rapidly moved UP after 100 o'clock. London time
At our opening all the arbitrage houses had buy
ing orders, but the traders bid up and they were
unable to get stock in any quantity c B McDon-
aid was the strongest influence in the early move
n1ent in Southern Pacific. He is, OF course. fire.
quentIy quoted operating for the Hartman inter-
est but he is one OF the most active operators on
the floor and gets in and out too quickly TO make
very much following Some of the wire houses, and
noticeably J. s. Bache & Co, are calling attention
to Pttsburg Coal preferred as attractive specu-
lative purchase for their customers They point
out the very marked improvement in the demand
for btuninous coal and report that the people who
control the property have not sold any OF their
nreferred stock. American Smelling was bid up by
the pool whose brokers reported that there was
very lttle stock offering. The movements are
merely technical and, according to floor traders
depend entirely on whether surrounding conditions
help the pool or the Boston bear account The
latter is banking dearer money, and the conse-
ouent difficulty of carrying pool stocks The story
to match the strength in St Paul was that the treas
ury stock was to be issued with valuable rights
Another Of the same character was that nervous
ness over the money market to be Offset by
various special distributions, including Union Pa
cffc and other properties with undfstrlhuted equl-
ties One OF the features Of the trading was the
selling Of the Hartman stocks by w OIL BIoIheIs oh
the advance This house has been conspicuous III
the selling any general strength for some Gays
mast On the advance IN Pennsylvanib the actVe
traders seemed to be putting out stock with some
confidence H Content and c. H. DeNltt We're
about the most noticeable. Commission houses uo-
ing business requiring large amount OF nLaiicIs
very generally report that they have more time
money than they know what TO DO Wlth' ana are
lending some of It on call Very few OF them are
not overprovided. as there was plenty OF warning
OF possible stringency.
ADVANCE IN IRON.-Foundry iron manufact-
urers announce a general advance of 50 cents ton
IN their product, which makes the quotation SIS ~
+ideurs+er The advance IS due largely to the in
creased cost of raw material One firm reports a
sale Of 1900 tons Tuesday. The demand Is
brisk for this time of the year. The Steel Corpo-
ration is in the market for another large block of
Bessener.
NEW TRUSTEES FOR TITLE GUARANTEE
AND TRUST COMPANY.-At meeting Of the
trustees Of the Title Guarantee and Trust Com
pany on Wednesday Jacob H Schin. of Kuhn. Loeb
& Co.. and James speyer, of speyer & Co.. were
added to the board. Messrs. Schin and speyer were
also made members Of the finance committee on
banking interests
PAUL D CRAvATH A DIRECTOR-Paul D.
Crayath has been elected director of the Morton
Trust Company. succeeding EHhu Root, who re-
signed several weeks ago.
MONEY FOR CROPS.-The Sub Treasury trans
ferred banks 100000 TO St Louis and $ooo0e to
Cincinnati.