New-York tribune., 1905-07-09

Reading. to be expecting reaction. and. Ike
a number Of other houses. were advising proai
taking on bulges. Further bull points we're or
Tennessee Coal and Iron
TENNESSEE COAL AND IRON.-Regarding the
advance in the price Of Tennessee Coal and Iron
stock an interest Identified with the property says
that part OF the buying is based on the fact that
immediate recovery is expected IN the price Of
Southern pig iron and the active and aggressive
entrance Of the company into the steel rail aed The
company in the future will be important factor
the production of steel rails. and il is expected
that under it's new process Of manufacture il will
secure part of the business now handled by the
United States Steel Corporation. II was reported
yesterday that of the largest individual inter-
ests in the property had offered price Of 10
for his holdings. and that the offer had been re
fused.
PIG IRON CERTIFICATES.-Regul pig iron
certificates at the New-York Produce Exchange
opened easy on near positions and steady dis
tant deliveries. In foundry, October shovel
strength but other months were easy There was
sale Of 100 tons Of October foundry at 81 60
after the call Final prices for regular follow;
Cash. July and August. Sls rs bid; October. Si4B
bid: November. s14 bid; February. s4 . bid Clos
ing quotations for foundry follow: July and August
S14 2dsl4 70: october. sf4 S0s14 To- November. Si5
bid; December s14 25as 70; February. sl5 bid
TIED UP WITH BONDS.-''The wan street
Journal quotes a bond dealer as follows:
II can name saws veteran bond dealer. "ovsr
s2O0O6O00o OF bonds in the hands of syndicate
bers who bought the bonds this year. In most
not at present scrambIing 70 get out They are
carrying the bonds in peace and patience with ne
climbing up the price scale. They are wondering
lar ie issnsoe sch accent for instance a. bs
pened to the Japanese issue in the China Sea"
FOREIGN EXCHANGE CONDITIONS schu-
machsr & Co say:
Gold exports during the week amounted to S.oOi.-
profitable because sterling in Paris declined to
pops from here F tSe = fSet fbs s We sg p pEonr
a great deal more gold and importing considerable
this shipment TO France is offset BY about s. 7UOOO
of the yellow metal that received at the assay
0ur export % trade With @ the Paec % coas Sss is steadily
increasing and it IS only question OF time hen
business in that direction will have extended 10
such proportion that il will probably become the
change in New-York At the present time ii Is Gus
tourary to draw ninety days drafts upon London
points These drafts are covered when due by the
purchase of sterling and 4 our exchange market
IS low IL is more profitable fer banks with Far
Eastern connections TO buy sterling in New-York
San Francisco In payment thereof This results
in a demand for bills of exchange at This centre
the market preventing sold imports from Europe
but resulting in gold imports at the Pacific Coast
ord figures eased Off. the bulk of exchange wanted
having been readily supplied.
THE COTTON MOvEMENT.-Accordtng 10 The
Financial Chronicle the total receipts of cotton
for the week ended July reached 62f53 bales.
against f2s9 last week and 6S2f the previous week.
making the total receipts since September I. 1904
9,4S9406 bales. against IO644O the same period
OF 1SO3-'O4 showing an increase from September I.
1884, of 24249S6 bales. Reports from the South in
dicate that its weather has been favorable I'm the
main in the week. Rain has fallen in most Cis-
tricts but. rule. the precipitation has been
light or moderate although from portions Of Ten
nessee. Arkansas and Mississippi there are com
plants OF too much moisture and grassy fields.
ATCHISON.-In the unlisted department. there has
been admitted to quotation AtchisOn. Topeka ard
Santa F'e Railway Company warrants for subsrTip-
tiOn for ffty-year per cent convertible bonds.
second instalment C62l2 per cent? paid. quotation
for said warrants for subscription. first iHstalmenr
paid. discontinued
BANK CLEARINCiS.-Bank cIearings in the last
week showed an increase in the aggregate OF 81
per cent. New-YOrk gained 60 2 Per cent: Boston.
444 per cent; Philadelphia 2SS per cent: Chicago.
1T per cent; Baltimore 80 per cent: St Louis S5
per cent. and New-Orleans. 65S per cent co.npari-
son being made with the Same time last year
LOUISVILLE AND nashville Louis
Vile and Nashville Railroad Company has applied
to list Ssi0GoO additional unified hfty year Pc
cent bonds OF 1910