New-York tribune., 1906-10-17
MINING STOCKS.
WALL STREET AND EXCHANGES.

WALL SIhEEI AMI EACaANOEo.
FOREIGN TRADING.-Foreign houses dealt IN
1900 shares in the local market most OF which
were purchases. In London consos were steady.
while the general market firm, especially in
the case Of the copper shares. While there was no
change in discount rates. money was in good de-
mand, and there indication OF a reduc-
ton in the Bank of England's rate at the weekly
meeting tomorrow.
THE COST OF LIvING.-'Dun's Index Number
of commodity prices proportioned to consumption
s1O5.235 October 1. against s1O4 2S7 month
previous, s00426 at the corresponding date last
year. The advance of about per cent over last
years level Of prices fairly represents the general
improvement that has occurred in the nations
industrial activities and we'll distributed over
all the seven classes into which these commodities
are grouped. The month of September was not
marked by any special change in conditions. many
departments showing practically no alteration and
the rise OF about 81 is found in dairy and garden
products and metals. With the approach OF cold
weather there was the usual reduction IN output Of
milk, butter and eggs. while the gain IN metals
occurred chiefly in pig iron. Of which the supply
available for prompt delivery was Inadequate to
the requirements OF the steel mills, and there was
also great pressure for Of the minor metals
that seemed to have the support Of broadening
consumption In addition to manipulation at
London The movement most spectacular IN
copper. which attained the highest position in
many years The general level OF prices on October
l did not come within 90 cents Of the high record
for recent years eStabnShed on June l, Wnlcn was
largely due TO the decline IN grain quotations in
response to the ample crops secured. Some COM
parsons have been mads between statements by
the Bureau of Labor regarding the average rise IN
wages and the advance in commodities as
ured by "Dun's Index Number" but these fail to
take into consideration the intangible but most
important factor Of the present demand for labor
which exceeds the supply, whereas at the earlier
date this ratio was reversed. Until such statistics
Of the advances In wages make allowance for the
will Tho r0DlOv Ovadf faOv IA
not fair statement Of the relative prosperity OF
the people as a whole
HUDsON's BAY COMPANY-Hudson's Bay
Company stock which advanced in London yester-
day to record figures OF f10l los. has long been
actively dealt IN In London. The price has been
steadily advancing for time. presumably IN
response TO the increasing valuation OF lands IN
Canada. The company originally Incorporated
under royal charter. but in 1870 the company
rendered its territorial rights to the Canadian
ernment in exchange for certain land concessions
and 100000 IN cash, which cash applied TO the
reduction of capital to Ell share from the original
par of go. It now stands the stockholders only
flo paid in The company has received about 1900
900 under It's land concessions. and about O
600 have been sold The company will receive
IN all from land concessions about 100000 acres
The company does general trading business IN
addition to its land department. It's land holdings
in the Dominion of Canada second only TO hold
ings Of the Canadian Pacific Railway Company
COPPER ACKNOWLEDGEMENTS and casting
copper advanced 1c in the bid price, 21c TO z1%o
and PIC to 211ao respectively. Lake was unchanged
at 2112c to 22c. The present level OF "copper" both
at home and abroad, has. according to producers
and selling agents statements. made appreciabIe
falling of IN demands from manufacturers. On
this point a prominent London house says: $50 far
the high price OF copper has cut figure check
Ing consumption. which seems able to absorb any
Increase in the yearly output"
STEEL PLATE CONDIT1ONS-Eastern steel
DIa and ca
plates for delivery this In some cases large
premiums have been obtained on plates for delivery
in 1907. Steel plate concerns report much larger
business than prevailed year ago The large
equipment orders the part Of railroad coupanias
and the demand for plates the part OF ship
building companies have stimulated the marker
representative OF large Eastern steel plate con-
Germ says prospective orders for plates are being
scrutnized more closely than ever before
STEEL Observation-Disclosures OF tha iro, har
and nut and bolt associations will be held this
week. No change in the official prices OF iron bers
is anticipated, although sales being made from
g to $ a ton above the minimum quotation Steel
bars are also commanding premiums TIE vrri+a5
States Steel Corporation and other con,nanies d.
cline to change their attitude in regard 70 prices
ana no changes OF consequence are expected this
year. no matter how urgent the demand becomes
PRESSED STEEL CAR DIVIDENO-A -,o4as.
purchase of Pressed Steel Car revived tba r,,r
Of dividend on the common. The ability, 70 ro,- =.
dlvioehd Is not doubted. and there will probably,
be claration before long as all tba r,,,,r,,-
equipment companies are making money Tha a.
rectors however, suspended tho dividend two ,,aa
ago and Will naturally be sure OF their ero,,rs -
fore resumption.
PIG IRON CERTIFICATES iron o.,s
Gates at the New York Produce EXCHANGE w..
STEADY and without important changes IN nuota-
uons- 1here were no sales. Prices for raz,,Ia-
follow; Cash. October and November. s,s(7s,S ~
Decemner. SIS 10 asked; January. SO Is asked. Fab
ruary and March. NS6Ns % Quotations FOR starS
ard foundry follow: October. so asked. Noyan,hNr
Sis 'Sqszl; December and January ssn6S9,. ETah-'
AIRY, s1s so bid. ~'-i' ReoFu-
fouNDRH IRON ADVANCED-Tbarsb, b,. -.
a turther advance in the price OF SouthArr so, -
I.U". V aHe tennessee Coal and Iron Con,por,- o..
e'iie' 0"uthern concerns are selling No foy,os
IRON calling for delivery in the first haze -, 80
year. on basis OF SIC so Birmineban, -rh, N 90
,9e ,9Se'S an advance OF 80 cents a ton and q, ~
months AZ" mas sold In
a. " PER PRICES--Phelps Dodge & Co s,,..A
-Oeeh' copper for the first six months OF Iao, =,
~ assured American Metal Companv trta-...
arc auuoipating higher prices for conner sT
eatna'eo interests express the opinion IN. ~
WIN rue IN price between 20 and 23c tbIs ,,S pSef
BASH IRON sAI-ES.-Sales OF basTc ,a,
Wa assregated $1,000 tons. and In tha r,t -
0N safes amounted to 125.OOo tons 1bsra te
VI So eVn' ueIhand for all classes OF iron '
% 81" ORDER OF TIES FOR MITCHELL No. |
ne Ni'cheH Mining Company apro,,r1 N /
ms nos awarded contract of lS5 COO ties -, - ''' l"
nFeF.a