New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-09-29
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt IN
upward OF $500 shares in the local market OF
which $500 were purchases. In the early dealings
foreign interests were active buyers. but turned
sellers on the development of weakness on the New
York Exchange. In London the general market
was strong. Money in good demand, and the
banks were discounting more freely. Bankers In
London believe that British rates will ease some
what next month but they do not expect an i'm
portant reduction In quotations, especially in view
of Lombard Streets heavy Indebtedness to the
Bank Of England.
THE GOVERNMENT DEPosITs-The opinion
prevails in banking circles that the announcement
made by the Secretary Of the Treasury that he will
distribute some s26O00OOO OF government moneys in
banks located throughout the United States may
the effect which il is desired to obtain. for
the that it is stipulated such deposits must
be secured by bonds which are legal investment
for New York and Massachusetts, savings banks
Bonds Of this class are now required for deposits
made facilitate gold imports and as securities
OF this character difficult 10 obtain. It is likely
that the pledging OF such bonds security for
government deposits will interfere with the free
importation of gold Furthermore, IL is not proba-
BILE that banks named as repositories located in
cities outside of New York and Boston would be
able to receive the deposits which the Secretary IS
willing to make. as Western banks would hardly
be likely 10 carry for investment bonds which
lawful only for New York and Massachusetts saw
ings banks
PIG IRON CERTIFICATES-Ptg iron certificates
at the New York Produce Exchange were steady
for regular and firm for standard foundry. There
were no sales Prices for regular follow: Cash and
September. SIS bid; October, SSQ$1S 70; November
and December. S1SqS1S S. January, February and
March. $40 asked Quotations for standard foundry
follow: September, $2GQS21; October SO 25QS20; No
vernber. $199S20; December. SO 10g$O; January.
SIS SOas19 30; February and March. SO 80 asked
RUTLAND MINORITY INTERESTS WANT
NEUTRALITY-SUSPICIOUS. & Co. Of No 20
Broad street. representing minority stockholders Of
the Rutland Railroad Company, have presented
formal request 10 President Newman Of the New
York Central & Hudson River Railroad Company.
which controls the Rutland that the minority in
terests of the latter road be given representa-
tives the board Of directors at the annual meet
ing next month
been made to list 100000 Missouri, Kansas &
Texas Railway Company general mortgage IA per
cent sinking fund bonds of 1885, and Ingersol-Rand
Company. 100000 first mortgage per cent bonds
of 1885. $4,5o0Ooo preferred stock and 100000
mon stock
ADVANCE IN COPPER-Lake copper advanced
&c in the bid and asked prices. at 1880 to 2O1sc
Electrolytic advanced 80 in the bid and asked. at
1880 1880. Casting was up 80 in the asked.
1s14c TO 1850. These were record prices.
INITIAL DIVIDEND-Directors of the Mexican
Telephone and Telegraph Company have declared
initial dividend of pa per cent on the preferred
stock payable November to stockholders Of record
October Is.
a.
streets reports the exports Of grain for the week.
in bushels with comparisons. follows: Wheat.
flour included. 4.57465S. against 46TT522 last
week 2O 932 in this week last year. 11S2 293 in 1904
and 6.195.T49 In 1901: FOR the fiscal year TO date
S9S7sO20 against 1926 1873 in 1905 II 4427s in 1904
S54 in 1901; 465s64 against 54 75I last
week. 1212s92 in this week year ago and 7COs62 In
1904: for the fiscal year to date. SE42S2 against
II S44.O29 in 1906 and 1881. 531 in 19O4-
LARGE STEEL RAIL ORDERS.-The INTERIOR
ough Rapid Transit Company has ordered 5000 tons
of heavy section rails; the Las Vegas & Tonopah
$500 tons; the Central Vermont, 5000 tons and the
Erie. $4,000 tons. 1t is understood the order OF
the last named company will be increased later on
Inquiries for steel rails aggregate between 10000
and 10000 tons.
BONDS DEPOSITED AGAINST GOLD M
PORTS.-Bonds to the amount of $4,000 were de-
posted at the Sub-Treasury by the Fourth Ma
tional Bank against gold engaged for import. This
makes the total deposits TO date $3i+67,0O0
BANKS LOSE CASH.-LocaI hanks lost to the
interior this week s5OsSOO S5275OOO by returns of
United States special gold deposits. and OeSsO0 on
Sub-Treasury operations proper. There was a gain
from gold of sSSS.2 200 that the net loss was
S6.Os50OO.
MONEY FOR NEW ORLEANS-The Sub-Treas-
ury transferred yesterday $4,000 for local banks
TO New Orleans.