New-York tribune., 1906-08-24
wAII, STREET AND EXCHANGES.


actively on both sides OF the account thelr heaN-
lest transactions being in United States Steel COM
mon Of which l5COO shares were bought IN LohuO"
the general market showed improvement as cO'il
Dared with the preceding day The Bank OF Eng
land made strong return, and made no chahse IN
a.. ,,,D,y,uro rate Of discount The demand for
money was active and early rates we're hlsheE'
though weakening before the close
MONEY AND GOLD IMPORTS.-Money rates
were firm again yesterday. with every lndicatOn
of higher quotations Time money Was euo.e- 49,.
per cent for all periods, and in some cases
rremiuu1 was asked while call. funds ruled at
per cent with per cent the maximum SteEnhA
exchange was firm, advancing 10 points, despie tils
strength in money, while in Paris eNcnanse Oh
London advanced Advices from London statea
that while there was a strong probability OF Ne"
York securing the gold which will arrive III tne
British capital next week from South AFRICA noun
ing definite in the matter had yet deveiopeo- EN-
change at Chicago on New York declined ana
heavier demands for currency for Shipment 10 the
interior were reported II is thought that Secre-
tary shaw's action in placing with depOsitary
banks throughout the country S3.OOoO0. each oanH
receiving $4,000. will be followed by further "e-
posits in the near future. The amount already de-
posted, Of course will relieve the New York mar
ket 10 that extent. but last year this city
shipped or rather lost, upward Of S6oOOOeO 10 the
interior and as the demands this year proOaoiy
will be larger. il may readily be seen that the sec
retary Of the Treasury will have to make mueh
gold imports or heavy liquidation in loans to pre-
vent money strngency.
THE POOL IN UNION PACIFIC COMMON-A
Wall Street news bureau says;
The belief entertained in some quarters that the
crsase org Poi in Dividend to 10 per cent basis has taken
lofts on the 9uaT1es DSTt DST OF OF 15e best informed
banking interests of the Street According 70 state
ments made by well Informed brokers, this pool
which is said TO composed Of sO-called insiders
took in the neighbOrhoOd of 10000 shares OF Union
portion of the pool holdings have been liquidated
since last Friday but the opinion Is ne hel1 @ tnat b
marx market. Pa'' u '''
EFFECT OF THE NEW UNITED STATES DE-
POSTTS-The effect OF the action of Secretary
Shaw in deposting ss.Ooo.OO in country banks in
sums not to exceed $4,000 each. will be 20 prevent
the shipment from New York to the interior OF at
least an equal amount. The money will be put
where Il Is needed for making the primary pay
ments on the crop movement TO the producers, and
for that reason it will probably do more good in
the way Of preventing drafts upon the Of the
New York banks than IL it had been put into ba2ks
in cities 1t is also possible that part OF the
money thus deposited may come 10 New York direct
for investment, in IL should not be needed at
home
PIG IRON CONDITIONS.-There was talk in
iron circles on Wednesday OF further advances in
some grades of pig iron. but leading producers said
that they know OF formal advances although
the tendency was still toward higher level. An
officer of prominent steel company. which is also
a producer OF pig irOn.u says there are no fixed
prices for pig iron for early delivery Only small
lots are to be found anywhere, and for these the
sellers get as much they can Both steel and
iron men say. however. that the characteristic Of
runaway market namely eagerness on the part Of
consumers to buy for quick delivery, regardless Of
price. has not appeared
PIG IRON CERTIFICATES.-Pig iron certificates
at the New York Produce Exchange were steady to
firm There was sale OF 30 OF regular Octo-
ber at 81 10 Quotations We're: Cash, S7 20 bid;
August and September. SIT IS bid; October and No
vember. SIT 7J0$lS; December SIS asked Quotations
for standard foundry follow August. $40 % asked;
September. SIS bid October. $1SGSlS .: November
and December. 81 956Sls.
DIVIDEND DECLARED.-The Associated NIer-
chants Company has declared the usual quarterly
dividend of 1% per cent and the customary extra
dividend of One-half of per cent on its common
stock. payable September I.
STOCK EXCHANGE SEATS AT $95,OOO-A seat
on the New York Stock Exchange was reported
sold yesterday for S95.OOO compared with $4,000
the last preceding sale. Only before in the
history of the Exchange have seats scld high
as $95 600.
NO ST PAUL MEETING.-The meeting Of the
executive committee of the Chicago Milwaukee &
St Paul, which scheduled 20 be held yesterday
postponed until To-day owing 20 the lack OF
quorum