New-York tribune., 1905-02-26

SIG 40 bid: February March. April and May a6.5o9
$3.50: June and July, $3.50 asked
MARKET GOSSIP.-NIoore & Schley the
heaviest buyers of Pennsylvania. Some covering
OF Boston shorts in that stock was rather note
worthy the purchasers were identified with the
bear interest in that city at one time and were
buying in other parts of the room. Perhaps the
strongest bull point at present in the market is On
the Gould stocks. The favorable reception OF the
Missouri Pacific bond issue, which was ten times
oversubscribed. has turned attention to Texas Pa
cific Wabash and other Gould properties Active
traders the floor reported that there was heavy
profit taking. Most OF the best judges seem con-
fdent of the ability of the market to absorb such
sales, and believe that all the traders sold was
taken by the active houses, and especially those
with Western connections. Brokers representing
the biggest capitalists In the country buyers.
The report that New-York Central will figure in a
combination with Union Pacific and Northwest
again current
LOUISVILLE AND NASHVILLE-Ths new
mortgage for s5oO0aeoo which the Louisville and
Nashville stockholders will authorize March q
will swell the total outstanding bonded indebtedness
TO $751; $4,000 It will include all OF the mile
age recently taken The first bonds to be
issued under the mortgage will be for pay
rnent of construction OF the connecting links on
the Atlanta Knoxville and Cincinnati division, and
the link between Knoxville and Jellico. In connec-
ton with the taking over Of the South and North
Alabama Railroad Company. which action Will be
Indorsed by the stockholders there are outstanding
bonds which will be taken up later through the
issuance OF a part Of the proposed new issue
THE COTTON MOvBMENT.-According to ''Ths
Financial Chronicle" the total receipts Of cotton
for the week ended February "a reached 1oo,sSO
bales against 6S.556 last week and S5,SA the
previous week making the total receipts since Sep
te1nber l. 1904 6SeS.597 bales, against 6oSo'276
for the period in 1SS-'O4 showing an increase
since September !. 1904 of S22 bales. Reports
frSt hat Ia
slightly more favorable during the week There has
been rain in most sections but, as rule, the pre-
ciptation has not been heavy. The temperature mas
moderated generally. Preparation OF land for the
next crop has made little or no progress on the
whole the soil being too wet 10 work
A,rATCANrATED COPPER.-It. is understood
+ra+ +he directors of Amalganated Copper will
meet on April 18 to pass upon full report OF the
condition of the property. This report Will De Is
sued to stockholders. and will be made public gen
orally on April 20. Al the meeting quar-
terv dividend Of per cent is expected placing the
stock on a 4 per cent basis. The last declaration
was one-half of per cent quarterly and an equal
amount extra It Is said that earnings showing 6
per cent conservatvely will be disclosed in the re-
port.
GERMAN REICHsBANK.-The reduction OF the
German Reichsbank rate from 31a to per cent
was not unexpected on account of the In money
at the Berlin open market. The chief significance
OF the banks action is that st points to early
reduction in the Bank OF England rate 10 2h per
cent.
CANADIAN PACIFICs BIG EARNINGS-Earn-
ings Of the Canadian Pacific for the third week IN
February show increase over the same week a
year ago of $176yOoo, making from July g. gain OF
S3.0e0oo0.
BANK CLEARINGS.-The total bank clearin gs
of all the clearing houses Of the United States for
the week ended February 25 were g 422 on, ,S5s
against $2363. 16sS76 in the preceding week and
$1,6N 7SS 2SS IN the corresponding week last year.
UNION PACIFIC.-In the week Sc .243.ooo Of Union
Pacific convertbles exchanged for stock
making the total now listed $50 247.O00
NEW COTTON BXCHANGR-The Cotton Ex-
change will ballot tomorrow the question of
expending $4,000 to the cost Of the build
Ing and improvements.