New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-02
WALL STREET AND EXCHANGES.


FOREIGN TRADING-The transaction IN thiS
market for foreign account aggregated oV'V' Sa- -
OF which more than 20.0co were purchases Inc
Aorear following abroad seem to be distinctly DUH
ish Their purchases have been mostly IN Cli1e
States Steel and Erie, but there is some oIsposI
tion to pick I'D Southern Railway on declines Inc
London market is pretty well sold out, put 1t -
noteworthy that the arbtrage houses VINO were
ir,oortant borrowers week ago. are in some cases
lending stocks. while the local borrowing oernaho
has increased Money was easier IN LONDON IN spite
OF the consol settlement which made some CANS vi
the market There considerable release OF
dividends which helped. Discounts were hrm on
the uncertainties of gold Withdrawals In the near
future 1t is expected in London that South &,ilei
lea and Egypt will both want gold in the near nut
ure and some shipments to New-York are thousn'
be likely also.
MARKET GOSSIP.-Atchison was one Of the
exceptions to the general heavness at the opening
The most important factor has been the Morgan
buying the object of which it still unexplained
Purchases for that interest do not seem to nave
been completed. Most OF the stock in the London
market has been picked up. Amalgamated Copper
was sold on the lower tendency Of the metal
abroad by number of people who would probably
not have parted with their stock on any Lawson
demonstration. Missouri Pacific was rather IN
favorably Influenced by the heaviness of the Lon
don quotations for Wabash and the other Gould
stocks quoted there. Missouri Pacific is not quoted
in London itself From its action traders infer that
the buying of Atcfison must be for an entlreiS
different reason than general condition OF crops
and business in the Southwest. Calls were sent out
for margin on Thursday night. and a good deal OF
the catching of stop loss orders in the first hour
was the consequence Union Pacific suffered from
selling of the kind. and Reading, among other
popular favorites. materially influenced L.
Never jr gave the best support to SHELTERS, but
did NOT check the decline 1t was rather note
worthy that the Morgan stocks were better sup
ported than any other group. quite apart from the
special strength in Atchison The United states
Steel issues came in for very good support, and
after few sales by the comnni ssion houses were
not in serious need of support at all. Erie also
acted much better than Reading, while 1t almost
looks as if there might be truth in the story
of accumulation of Southern Railway for move
when the trend of the money market is clearer
The movement in Wisconsin Central was encouras-
ing to the bulls in that stock. who continue to be-
eve that it has future in the control OF some
greater road. The buying of the Burlington joint
As is considered good. One house alone took
$250O0J in the course of the day The accumulation
seems be for banking interests.
MOVEMENT OF MONEY-The reported move
rnent of currency this week indicates loss in cash
held by the of s7,572Soo. They received from
the interior So 400 and the interior S9,3S4
30. of which there transferred through the
Sub-Treasury to Chicago s2.5OoO0o and 70 New
Orleans $4,000. and s. $4,000 national bank
was sent to Washington for redemption. The loss
the interior &.26l, 800.
BOND MARKET IN AUGUST-In their Sep
TENDER bulletin Fisk & Robinson say:
The market for investment issues of railroad
bonds during august was quist such activity as
latve issues which were more directly affected by
advances in this class of railroad bonds may be
mentioned Albany and Susquehanna convertible
Is and Pennsylvania Railroad convertible S13s.
Some of the more strictly investment bonds appear
securities should advance with the fall demand:
ijeid vii undoubtedly be far above the Average
and exceptionally heavy business is anticipated
by the railroads
GRAIN EXPORTs-"Bradstre reports the
exports CT wheat. including -four, for the week at
112a25o bushels, against 1,17o3D last week. and
1880 81 last year. Since July l. s90675. bushels.
against 12.46ie62. Corn 1.162,S70 bushels. against
ss7Zo4 last week and 1852 last year Since July
81 bushels. against 5,27SsO1 last year.
PIG IRON QUoTATIONs-Regu pig iron
tifcates at the Produce Exchange opened dull and
generally easier. The foundry grade, while about
steady. was also dull. Quotations on the call were
as follows: Regular-Cash. SIS 10asl5 50: September.
SIS 50 asked; October SIS 20S15 60; November SIS 40G
SIS &C. December, SIS 55Gs5 So February. SIS bid.
Fourdry-Septe nbe-. S151s15 80: October. SIS 20
asked; November SIS 5OQs15 20: December SIS 25 bid
February, SIS rs bid. The second call unsettled
with the regular grade irregular price. and
the foundry grade about steady There were sales
of SEQ of cash regular SIS, and 100 Of
were as follows: Reguar-Cash Sl59sl5 90; Sep
ember 50 10 bid October, SIS 4a17s,5 co. November
SIS 50GS15 30; December. SIS 60aS5 So February.
SO 2S0si6 Foundry-September. Sl5Ga5 80: October.
SIS 20n<l5 CO; November. $40 30 asked: December.
SIS 50 asked February. SIS asked.
ONLY TWO EXCHANGES TO CLOSE TO-DAY.
The Stock Exchange. the Consolidated Stock
Exchange and the Produce Exchange will not
close to-day. The Cotton and Coffee exchanges
have voted to close. in order that their members
may have three days holiday.
THE PIG IRON MARKET.-Rogers Brown &
Co. say:
Pig iron sales continue to gain in volume The
chief development of the week the definite pur-
chase by the Steel Corporation OF 25,cN tons OF
Hessefner iron for next months delivery. The re-
port that part at least of this tonnage was pur-
chased on a basis of SIS In the Valley is an indca-
ton or STRENGTHENING prices. Several good sized
transactions have taken place in basic for deliveries
running into the first quarter OF 1906 Business in
scattered lots OF foundry iron continues 70 figure
UP a very respectable total and inquiry Is distinctly
on the increase Prices have not advanced. but the
fact that most producers running behind In
OF higher Is "a hem