New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-21
MINING STOCKS.

FOREIGN TRADING-Foreign houses not
factors in the local market as the London Ex-
change was closed. In London money was prac-
tcally unlendable at the close. The largest offer
ings were on Japanese government accounts Dis
counts showed a weaker tendency. Bankers here
expect hardening of money rates before the end Of
the month. in view of settlement nervousness, but
considerab bic ease in June if foreign exchanges do
not change their present favorable tendency Bar
silver was strong in buying for India and China.
THE COTTON MARKET-According TO THE
Financial Chronicle" the total receipts of cotton
for the week ended May 19 reached 1885, 16 bales
against 1855 last week and 164 2O9 the previous
week, making the total receipts since September
f. 1904 sS2S9OS bales. against $685. S the same
period of 1sC3O4, showing an increase since Sep
TENDER l. 1904, of 1.S76.59O bales Reports from the
South indicate that rain has been general during
the week, and in the districts of Texas Arkansas
and Tennessee an excess CT moisture is complained
CT. The wet weather has further delayed planting
operations in the Southwest. and il is claimed in
other sections that fields are quite grassy. Along
the Atlantic and in Alabama cotton, where up. is
reported TO be doing well.
BESSEMER IRON.-While small amounts of
Bessemer iron in the Pittsburg district are chang
ing hands on a basis of SIS 25 ton manufacturers
continue to refuse any business on a basis below
SIS so. the price that has prevailed for several
rlcnths past. The United States Steel Corporation
is producing more iron than before in history
pound of which is going directly finished
material. At its present rate Of production the
Steel Corporation would be forced to buy a liberal
amount of pig iron from the independent furnaces
IN the event OF the closing of two three of it's
furnaces.
PIG IRON CERTIFICATES-"Rcgu pig iron
certificates at the New-York Produce Exchange
opened weak with fair trade. The foundry
grade, however, was comparatively firm. There
were sales of 100 tons of October and 200 cons of
February regular while n sale ST 100 tons of
February foundry was also recorded. Quota
tions the call for regular certificates follow
May, SIS IS asked; June, so 80 asked July S156
SIS So August Sl5G$15 40; October, $14 75d$l5 No
vember. s14 75ds15; December, SIS asked; February
$l4 S1G SIS Quotations for foundry certificates
follow: May. SIS 25QS16 June. SIS 25q$16: July
SIS 25y5 rs; October SIS 25aa5 80; February $14 IS
q$l455.
MARKET GOSSIP.-There was some disposition
shown to pick out stocks for attack which we're
known to have an old ard obstinate bull account in
them. This was particularly the in Illinois
Central which the Westerners bulled with some
success a month ago. The pool in Chesapeake and
Ohio also seemed to be having trouble of it's own
and is said to be weakened by secessioas. The
most vigorous demonstration Of the day was made
against Union Pacific where the Iuhn-Loeb sup
porting orders only put in at a concession Of
a full point.
STOCK EXCHANGE HOLIDAY.-It is under
stood that petition will be circulated early in the
week by the members OF the Stock Exchange urg-
ing the governing committee to close the Exchange
Monday May 20. we'll the following
day Memorial Day
INVESTMENT DEMAND GOoD.-A member OF
the bond house Of Farson. Leach & Co. speaks Of
the general bond situation as follows: so far as
are concerned the demand for good bonds con-
tinues TO be satisfactory While there seems TO be
q good deal of new stun the market it is being
rapidly absorbed. and purchasers who want good
bonds have to pay for them"
BANK CLEARINGS.-The total bank clearinTs
OF all the clearing houses Of the United States for
the week ended May 20 were 1891 Ss3.l57 against
s2545100S 2 in The preceding week S2O07 9S7
In the corresponding week last year