New-York tribune., 1905-01-12
WALL STREET AND EXCHANGES.

WALL SlhEEl AMI
FOREIGN TRADING.-Foreign houses dealt In
IL 600 shares in the local market buying on balance
In London the fortnightly settlement PROCEEDED
satisfactorily Consos were steady and SHADE
ha rder Foreign bonds were fairly hard with some
small improvement in Russian IS me general
market was steady and developed little feature OF
interest Money was ca sy apart from the usual de-
rnand for the Stock Exchange settlements, which
seems TO be light. Paris was anxious TO secure
gold and presumably was preparing for iS por-
ton OF the Russian bond issue
PETROLEUM MARKET CONDTTTONs.-The de-
cline in the price Of oil has resulted in a heavy
falling of in crude oil prospecting Not until there
has been a material advance in prices is anything
in the way OF activity anticipated Wildcatting was
feature OF the oil industry in the year 1904. but
this has practically ceased as result OF constant
price cutting. However. production in the Eastern
districts continues comparatively heavy, but Oil
producers unite I'm saying that the Eastern fields
have already passed the point where production
exceeds consumption. According to prominent
oil producer, the Standard OIL Company will show
well in the matter OF earnings this year. Lower prices
by no means indicate that consumption is falling
off On the other hand consumption is on the in
crease.
INTERNA ATIONAI. STEAM PUAP-Earnings OF
the International Steam Pump Company are in
creasng at rapid rate, and, according TO the
views of interests identified with the concern, the
net results In the current year will be largely in
excess Of the favorable of the last year.
all indications point toward a large gain in the
actual volume orders and reduction in the cost
of operation the being due to the economies
that have been brought about since the opening OF
tho companys big plant at Harrison. N ]. The
last year in the steam pump manufacturing busi-
ness was of excellent results. and at the cur
rent rate of orders the present year will break
all past records in this line CT the country's indus
tries. The International Steam Pump Company Is
q combination of the leading steam pump manu-
featuring concerns in United States and it has
proved OF the most successful OF the industrial
combinations that were formed a few years ago A
director OF the company said yesterday that new
business and business in sight were large enough
TO Tax the company's plants to their fullest
pacity. This statement will be OF interest to the
people who are stockholders IN tne company.
SUGAR MARKET CONDITIONS-The general
position the sugar market is firm. with sellers OF
sugar in all positions Indifferent about parting with
their holdings at present prices. On the other hand
refners 20 be willing to buy at current rates
for spot and shipment. but at the same time they
DO not appear TO be overanxiOus to buy supplies,
Refined sugars are firmly held at full prices and
none OF the rehners are making any concessions
from the list rates except the usual discounts
Some Cuba sugar has been bought for March-April
shipment at 80 cents cost and freight which is
equal TO $40 cents. duty paid. at New-York, but
the regular quotation IS cents.
PIG IRON CERTIFICATES MARKEr-Pig iron
certificates at the New-York Produce Exchange
changes In the level of prices There were no sales
Prices the call follow: Cash, A66 90; January
SIC 907 20; February, SIC 90$17 05 March, s17$17 10;
April 81; May, $17q$17 so: june SIC 75S17 %; July
S6 5O9s17 August and September SIT asked On
the second call prices were irregular. There were
sales OF 100 tons of January and 100 tons of March
Closing quotations follow; Cash, S16 30; January
SIC s59sl6 90 February, SIC S5Q$17; March SIS eOs1T
April SIC 90d$l7 10: May SIG SOQ$17 10: June s6 sO6
81 1o July 's 1881; August and September. SIT
asked
ARIZONA CONSOLIDATED MILL TEST-An
experimental mill of small tonnage. which was
erected by the Arizona Consolidated recently to
determine the value of its ores made run OF
fifty tons OF ore yesterday, which resulted ia
vorably. This mill was constructed from an eco
nomic point OF view. so that the company would
not erect large mill and then find itself unable
to treat the successfully. Ore from the Tres
Amigos mines. which amounts to than $4,000
tons in sight Sc net the plates.
GULF AND SHIP ISLAND RAILRoAD-In the
six months ended December 81. 1904 the lumber ex-
ports from Gufport. Miss, amounted to more than
11600o.OOO feet compared with So 100000 in the
last six months of 1903 Other exports included
5000 barrels of rosin and turpentine in which
export business has developed entirely in the
current year Imports consisted Of tons OF acid
phosphate and about g. 900 tons OF iron pyrites
GOLD EXPORTS-The National CITY Bank an
gagged 10000 at the Assay Office for shipment to
Argentina in the latter part OF the month. This
makes S.25o.o0o engaged for Argentina this week
and 100000 for Europe. This makes $5S9 900 ship
ped or engaged since the movement began on Octo-
Der q, OF which s06OoOOO has been taken for Cuba
and se.e1o.ooo for Buenos Ayres
SECURITIES LIsTED.-The following securitis.
have been added to the Stock Exchange list: Ton
nessee Coal Iron and Railroad Conany. $4,000 ad-
ditional general mortgage per cent coupon bonds
OF 1851 10000 additional per cent retndinx mort
gage bonds OF the Chicago indianapolis and Louis
vile; 100000 additional preferred stock OF the
Chicago and Eastern Illinois: 81 $4,000 additional
common stock OF the Atlantic Coast Line RailroadI
$l 600 forty year per cent coupon bonds OF 1874
s72T5oCoO per cent coupon bonds OF 1901 and s7s-
$4,000 per cent cumulative preferred stock of the
American Tobacco Company
CANADIAN PACIFIC EARNINGS INCREASE
Earnings OF the Canadian Pacific for the first week
in January show increase OF ISL 900 over tn.
same month year ago From July the Increase
amounts TO nSl3O0o the largest gain made in gross
earnings the first half the fiscal year by any
railroad reporting.
APPLICATIONS To LIST AT STOCK Ex-
Observation-Disclosures has been made TO list the