New-York tribune., 1905-12-30
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
$500 shares in the local market, all purchases.
London bought 5000 shares of Steel common. In
London the general market was steady without
much feature. Russian IS were little harder and
Consos were hrmer after uncertain opening.
Copper stocks did entirely respond to the
strength shown here Thursday. Money was in
good demand early in London, but looked like cas-
ing off later, as there has probably been over
preparation for the requirements of the last day OF
the settlement and the end Of the year Rather
easier conditions are in order next week. although
rates are likely to continue urgent The Russian
news was indecisive. but did not disturb foreign
markets
MARKET GOssIP.-Trustworthy advices from
London show that calls about 10000 United
States Steel common matured at the settlement
Wolf Brothers quite heavy buyers round the
room, and noticeaby in Amalgamated Copper,
where they took 5000 shares, and United States
Steel common, where they buyers of about
10000 shares. c. G. Gates & Co. were active on
the side, particularly in PENNSYLVANIA and
United States Steel The selling came chiefly from
houses which had protected the market on Thurs
day The most important early buying in United
States Steel common was by Strong Sturgis &
Co.. who took 5000 shares in the first fifteen min
utes. They are as representative house as could
be chosen for extended commission business
and gave the key to the character of the buying
Virginia Chemical was very active and strong ad-
vancing buying through Moore & SchIey and
the usual representatives Of the Duke interest in
dividend, and there seems to be enough specula-
ton by so-called insiders to make it worth while
to declare one when public following has been
created. especially trade conditions are unques-
tionably good. The movement in Cotton Oil was
probably sympathetic with that in Virginia Chem!-
cal. Both governed by the same trade condi-
tions- Halle & Stieglitz were the largest buyers.
A. A Housman & Co. sold about 10000 shares of
United States Steel common. They were promi-
nent with other Morgan houses in supporting the
mar n ne braa aly
cOnda made further stride toward the Gates pre-
dction of 800 in the first five minutes. The London
selling is not quite understood, but the borrowing
Of stocks sold to arrive by the arbitrage houses
certainly strengthens the tee nica position Laden
burg, Thalmann & Co. continued heavy buyers OF
United States Steel after the curb market in Lon
don had adjourned, and other houses which oc-
casionally get foreign orders were conspicuous on
the same side. The Morgan following is talking Of
90 for the stock some time in the spring
MOVEMENT OF MONEY.-The reporteI nova
ments of currency this week indicate a loss of
$3 3242soO in cash held by the banks They received
from the interior $780, and to the interior
IS s677,7Oo, including $4,000 transferred through
the sub-Treesury to New-Orleans and s1.S1soOo
national bank notes sent TO Washington for re-
demption. The loss to the interior was 1895 900
Receipts Of new gold s5Ol 600 namely s442 500
on New-York Assay Office checks, 81 600 on San
Francisco Mint checks. s47.5C0 on Seattle Assay
Office checks. Gold exports were $4,000 to Mex
were s2O.024O0o; payments BY banks to the Sub
Treasury for customs. internal revenue, per cent
redemption fund etc, s22272.OG0. The loss
on ub-Treasury operations proper was s224SOoo
The total loss to the interior sss5e0O by gold ex-
ports, $4,000. and Sub-Treasury operations
81 ,000 81 1880: deducting the gain by new
gold. s501.0OD the net loss was S3242 900 The loss
to the interior caused by large shipments OF
currency to the West and South in addition to the
transfer of $4,000 10 New Orleans through the
Treasury Receipts from nearby and Eastern
cities liberal. but not sufficient to meet the
Western and Southern demand.
800" PREFERRED sTOCK-It is understood
that the preferred stock Of the Minneapolis. ST.
Paul and Sault Ste. Marie will be retired In the
near future and that its place will be taken by
first consolidated 4 per cent bonds guaranteed by
the Canadian Pacific. The eompany's consolidated
Is quoted loSh. which would make the
price of 207 for the preferred stock. Earnings OF
the company in the week ended December 80
showed increase OF 42 per cent as compared