New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-09
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
gng shares in the local market buying on balance.
In London consols were strong and the market,
rule was higher. The Bank Of England made no
change IN its minimum rate Of discount and showed
IN its weekly return substantial Improvement In
the proportion Of reserve 10 liabilities. open mar
ket rates In London hrmer. while in Paris dis
counts we're lower
MARKET GOssIP.-Although houses like Moore
4 schey, Hooley Learnard & Co and Flower q
Co. have been recent buyers Of DsJilleTs. there
is reason for saying that the house which is con-
ductng the pool operations has not appeared openly
IN the market The pool is said TO have Boston
end consisting Of Z. NJ. Foss and Hayden. Stone &
Co The heavy selling OF Colorado Fuel by Stiebe,
Hernshein & Co. who disposed of 600 shares or
more broke the price OF that stock. There was ap-
psrenty some bul support, hut it was not very
good and the Gould houses were doing nothing.
kmalgamsted Copper needed a good deal OF sup
po-t in the ueighborhood Of ia The buyers around
that figure included J. 6 Bache & Co. who have
been credited with doing good deal OF business for
Heinze and his following. Traders were selling the
stock short, but would probably run quickly on
anything Ike aggressive buying. It seems likely
that some q the forenoon selling IN Union Pacific
was for people who had expected an immediate
dividend declaration Suspense on that point would
not have been considered a bear argument when the
market was advancing. but at present the tenn
Yer Of the Street has changed and the unfavorable
aspect Of most Of the news the only side looked
a.. There had been quite an interesting accumu-
larion OF Northern Pacific for foreign account in
the last two months. One prominent bank has
handled something over loo.010 shares for its Eu-
ropean customers in that time. The Hill roads have
always been popular with the higher grade Of Eng
lsh investors. In the course Of the day a good
deal Of the selling came from Standard on houses.
and whenever any stock at all active there
would usually be few thousand shares from that
source James r. Keene is said % have been one
o. the sellers IL the forenoon On the rally in Read
ing, the most considerable selling came from A.
MestTe. the specialist IN the stock. The movement
was plainly the oyerscld position and originated
On the floor, forcing q number Of room shorts to
cover. A. Upper Co were heavy sellers Of stocks
around the room in the forenoon. Pepper & Stern
bach were also substantial sellers notably in Union
Pacific and AmaIgamateG Copper
CANADIAN PACIFIC-A leading interest IN
Canadian Pacific Railway says that the manner
N which Canadian Pacific directors were criticised
When they put the stocks on a per cent basis
MADE il almost impossible for them to Increase the
dividend again ~ the present time although the
large earnings might easily have permitted such
course Il is correct 10 say that Canadian interests
nave been larger buyers Of the stocks the last few
weeks than they have been for some time but they
nave evidently done rather in expectation Of
getting something good from the land sales de-
lsI'nent later on. The Canadian Pacific Railway
las withdrawn from sale al its lands in the Sas-
a-l.ieHd al hl-ley along the route q the Canadian
northern Railway. The lands wiz be revalued this
Efng and then put the market again at ad-
Fshceo prices This move is a result of the build
.le o. ihe Canadian Northern SO close 10 the Cana
o4aA Pacific Railway lands In the West
NoLoRADO AND SOCTHERN-The nlanaFAss
" me Colorado and Southern syndicate are offer
.1e paris Of the 81 100000 a. per cent bonds
~ lhe street The price IS 93z. less small COM
missions The bonds are the issue of refunding
"'hos SOLD in Nay 20 finance about IS 600 900 of
'sulpinent uusts and build q new line to the Gulf
fEAAsHLNANIA BONDS.-Alrnost all the 500
s.'V'v Fennsylyan-a Company per cent twenty
ne-Fesr BONDS. guaranteed by the Pennsylvania
-.4lfoso have been sold BY the underwriters
A1'-A Loeb d Co. The residue viii be offered for
INSCRIPTION al 1902 and interest
-LEDs RESIGNS FROM AMERICAN CAN
0-lI AAl.-W Z. Leeds has resigned as q di-
go VI the American Can Company. and has been
succeeded BY r IL lemon
-0NEf FROM San FRANCI6CO-The Sub
paid 10 the banks yesterday $4,000 on
ei1pmc order against the deposit Of new gold
u San Francisco Mint
No. LEGATION TO Discrimination mas been
teag. y The New-York Stock Exchange 70 list
{, -" I've year ~ per cent bonds OF 1909 OF the
Company iO"U
V, .-AE RODS AND CUT NAILS ADVANCED
usns os nave been advanced s. a ton and wire
unos I'VE cents & keg. Cut nall prices remain