New-York tribune., 1905-01-25
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
$1,000 shares. buying heavily on balance. In Lon
don n moro tranquil feeling about the Russian
situation. helped by some recovery in Paris
after early weakness. reflected itself in a better
tone all round. Consos shade flrmer. and
Russian bonds rallied little. while the Japanese
issues continued very strong. The mining settle
ment in progress showed small speculative
count open in the Kaf1r stock which is likely TO
be the situation disclosed at the beginning OF the
regular fortnightly settlement tomorrow. Money
was In plentiful supply but Paris is likely to draw
on London for all the gold It get for in
definite time TO come.
DOUGLAS COPPER-In connection with the
buying Of Douglas Copper stock 1t is interesting to
note that exhaustive examination of and report
the properties Of the Douglas Copper Company
has just been made by Gustave NJ. Gcuyard, for
many years the consulting engineer OF the group of
capitalists in control OF the Calumet and Hecla.
After describing in detail the property a whole
and the different bodies in Shaft No. /. he says
that the average value of their ores figuring cop
per at lac. is $24 Al ton. and that there is
blocked out and in sight in that shaft alone over
100000 tons. aggregating in value 3 S,667.O00 One
of the large ore bodies in No. l shaft has wldened
from twenty-five feet the 3OO-foot level thirty
five fet on the 4O0-foot level, and Mr.. Gouyard's
samples taken across that width of in cross
cut No 402. average 80 40 in gold ton. in addi-
ton to their copper and silver values
PIG IRON CERTIFICATES MARKET-Pig iron
cerUnCateS at the NeW-A ok Produce Exchange
opened steady and inactive. Prices were practi-
caIIy unchanged. Quotations on the call follow:
January. SIT 10 asked; February. s17 asked; March,
S6 6O9S6 90: April s6 5OaSlS 90; May. SIS 65
June and July SIS 90 asked On the second call
business was quiet, and the market displayed an
easier tendency. There was sale of 200 of
May. Closing quotations follow: January. ST 10
asked; February. $l6 50ls11 so: March SIS 50sI6 TO-
April SIS 6OQSl5 65; May. SIS 5OS16 20: June SIS 30
SIS 60: July. SIC S09Sl6 so
GOLD EXPORTS.-Lazard Freres will take in the
nieghborhood Of 100000 gold bars from the Assay
Office to-day for shipment to Paris. 1t Is under
stood that the same firm ccntemplates the exporta
ton of in the neighborhood Of S.000.000 in coin,
although nothing positive yet be said in regard
to that matter. Two other international banking
concerns have also been negotiating for the ship
nent Of gold coin to Paris tomorrow, but the
deals understood to be as yet not closed.
NATIONAL LEAD.-The strength in National
Lead stocks in the last two days has been due to
the reduction in the price OF pig lead. Cheaper
prices tor pig lead mean bigger profits for the Ma
tional Lead Company, especially at this time. when
the demand for consumption shows such marked
Improvement. The report of the company for the
last year will be Issued in the course OF the next
few weeks and it is understood that II will make
a most favorable comparison with the preceding
year.
HEAVY RAIL ORDERS-It is officially an
nounced that orders for about 100000 Of steel
rails have been placed within the last few days.
The orders evenly divided between the -Lacka-
wanna Steel Company and the United States Steel
Corporation. orders for rails now on the books OF
the mills associated with the pool foot up TO 1000.
COO tons. The demand for equipment on the part of
railroads is said to be better than it has been
any time since the first Of the year.
LACKAWANNA STEEL-A special meeting oi
the Lackawanna Steel Company has been called
for February T. at West Seneca, n Y. for the
purpose of considering a proposition to authorize
Oft rnOr
per cent bonds due 1885. with provisions for re-
demption at the company's option or after
March l. 1915, at 1O5 and accrued interest. Presi-
dent Clark. In his circular 10 stockholders In re-
gard to the proposed issue. says:
The company is In need Of about si0OooOC0
with which 10 pay for the completion of its plant
certain new construction and additional property
not contemplated when the first mortgaga Was
executed. and additional capital is found necessary
In the development of its business. 1t is however
deemed not expedient to issue the stock and bonds
held in reserve and the directors have therefore
prepared for submission to stockholders a plan TO
issue the SSOOoo.G00 in bonds to meet the Dresapt
and future requirements OF the company
UNITED STATES GUARANTY AND INpEM-
NIFTY COMPANf.-The United States It'll. Guar
anty and Indemnity Company announces that tbA
$4,000 of treasury stock recentlv outbor,z,i -
been oversubscribed. The canital g. - = -, =, -
and the surplus and undivided profits $40 oO
ATCHISON. TOPEKA AND SANTA EE H..
special meeting OF Atchison stockholders has an
proved the proposed issue OF s50OoOOO convertibla
bonds and So0oo"o increase OF common stock IN
provide for conversion requirements Of thu -.
issue. None OF the stock will De sold ?,
that Atchison stockholders will recstv. a. 'I
$50 10000 new convertible bonds az mar ~ - ~
tion TO their holdings. The so 100000 have bsa, ~
derwrtten at par. less commission OF % ner ,..,
The bonds are expected TO be worth l0a or -.
about. on Ills basis the rights" y, ,.t' 80
stockholders 10 take the bonds AZ mar -,
worth about Il per cent. -
AMERICAN HIDE AND LEATHER DIVIDEND