New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-10
WALL, STREET AND EXCHANGES.


ia 600 shares in the local market, selling on pal-
ance In London consols were heavy ana the gen
erai market irregular and spirtless Paris was re-
ported seller, especially OF the ha1nr stocAs' anu
there were probably some New-York selling orders
in orr issues The commencement OF the regular
fortnightly settlement on "Wednesday accounts ior
a good deal of the heavy tone, as the natural ue
sire is to reduce the bull account open as much
as possible in view of the stiff money rates Hhs,s
to rule them London is not hopeful of materially
easy money before the turn of the year. put IL sun
seems possible that no further advance in the bank
rate may be necessary.
MARKET GOSSIP.-Metropolitan showed some
strength carly and acted well considering the ouH
and heavy tone elsewhere The movement Is proo-
ably based on the coming election and seems TO De
one of a number Of similar movements in the fran
chise stocks made with the idea OF finding out
whether any Of them are being carried Tor poilu-
clans this time. Consolidated Gas was the CHOSEN
reward at the last municipal election. Some scat
tered liquidation of American Locomotive which
looked as if it might come from the pool some
what checked that stock after its Saturday adj
vance. It seems to be well understood that there
viii be no dividend the common this year one
of bui arguments on the traction stocks Is ehe
return to New York Of Thomas T. Ryan, who has
heen away for two months The active political
houses attach Importance to this fact, and have
been doing more business. both in Brooklyn RAPID
Transit and Metropolitan than for some time past.
In addition to the absence OF the most prominent
other floor leaders are away at present. Their
absence makes substantial difference in the vol
un1e of business. The selling Of st. Paul appar-
emily came from the West, or at any rate the
orders were executed by houses with Western con-
nections. When the old story of stock issue with
rights in order to finance building to the Coast
was revived, a rather weak bull account was ere
ated and seems TO be finding its level Charles g.
Gates & Co. were prominent among the sellers
The principal bull in United States Steel is said
ba of tba members
Morgan interest, and traders do not expect any
selling from that quarter for some time to come
Some support necessary, however, as there
was good scattered commission house selling.
Baruch Brothers, who supposed to be conduct
ing the pool operatonsin Shelters, were the prin-
cpaI buyers of that stock. The Hoffman House
following are said to have covered some OF their
shorts on Saturday after the publication of bank
statement but still actively bearish One OF
the reasons for the heaviness in Wabash was the
DAYS DEVELOPMENT in Toledo, which practically
settles the question of the disputed Gould control
AS there is therefore no competitive demand Tor
the stock 1t sold off easily
steel. TRADE FEATURES.-Rogers. Brown &
Co. say that the general market has been greatly
STRENGTHENED in the last week by large purchases
on the part of the pipe foundries, rollins mills.
steel works and the general foundry trade In the
Philadelphia market prices have advanced 80 cents,
and as much 81 a ton on some grades me
prices however of raw materials. also have adj
oSNeiANf S''--AS -
demand which usually develops at this time of the
year The scarcity of cars is becoming an inn
portant factor in the steel and iron trade 1t is
believed that an advance will be made this month
in the price of merchant steel bars
PIG IRON CERTIFICATES Regular and foun-
dry pig iron certificates at the New-York Produce
Exchange opened steady. but inactive Prices for
regular on the call follow: October and November
SIC % asked; December. SIG So asked January SIG Is
asked February. SIG IS asked March. SIS s. asked
Quotations for foundry follow: October SIG asked;
November and December. SIC asked; February.
SIS bid On the second call regular and foundry
were easier. There were sales. Final prices
for regular follow: October and November, SIC
asked: December, SIG 10 asked; January SIC 20
asked; February SIS 80 asked. Closing quotations
for foundry follow: October and November, SIS
asked December. SIC 10 asked; January, SIC 20 asked
February, SIC bid.
A BEAR OPINION FROM BALTIMORE
Hambleton Co. of Baltimore. say:
AS we view It the present situation in Wal
evident 10 any one familiar with finance that the
bank statements of the New-York Associate Banks
not deceive the public. certainly to deprive il
Of a clear lear understanding Of conditions as they
accomplished simply by bookkeeping without any
involved While we do not look for any deeided
disturbance in the money market, il is certainly
are and especially for those who are disposed q
speculate in the, New-York market not to ignore
present for considerable advance.
READING MEETING-At the annual meeting
of the stockholders Of the Philadelphia and Read
ing Railway Company, held at the terminal. the
old officers and board OF directors reelected.
The adjourned meeting of the Reading Company
was also held. and the annual report for the year
ended June 30. 1896. approved No other BUSH
ness transacted
COTTON POOL CLOSING oUT.-The compare
tively heavy deliveries of spot cotton yesterday,
20 about $500 bales, was probably due
to the fact that the cotton pool getting rid
of large portion Of the remainder OF its holdings
The deliveries for October have been heavy and
the understanding is that the pool Is now almost