New-York tribune., 1906-12-05
WALL STREET AND EXCHANGES.


FOREIGN TRADING.-Foreign houses dealt IN
5000 shares in the local market, mostly purchases
Cable dispatches stated that London was decidedly
bullish, on American issues. In London the gen.
eraI market quiet. except In the case of Amer
lean stocks. which were firm and active Discounts
were strong, and there rumors of further
withdrawals of gold for Egypt. as we'll as for Brazil
and the Argentine Republic
NEW YORK CENTRAL.-A. A. Housman was
one of the principal buyers Of New York Central
There active demand for the stock In the loan
crowd. The short interest is mora apparent than
real and is likely to disappear all at once when
the new stock becomes good delivery. The actiV-
ity Of New York Central turned attention TO the
funior vanderbilts. and particularly Nickel Plate
Active houses like Dick Brothers and Post & Flags
were making a market in the second preferred
PIC; IRON CERTIFICATES.-Pig iron certificates
at the New York Produce Exchange were strong
and higher. There sale of 200 tons of new
December standard foundry at 81 30. Quotations
for regular follow: Cash and December SogS22
Prices for new standard foundry follow: January,
So 25ds25; February and March, s22G$25. Following
the call there a sale Of 100 tons OF special
foundry December at 81.
SLOSS- S-SHEFFTELD-The executive committee
Of the SIoss- Sheffield Steel and Iron Company has
recommended to the board of directors the pay
ment of an annual dividend of per cent the
preferred stock OF the company for 1907 The pay
ments will be at the of 12a per cent for the
following periods: January .. April 1, July and
October /
MOVEMENT OF COPPER-Government returns
show exports of copper In the month of October
have been S9.2i5.14i pounds. against 35.15692S
pounds in the corresponding month a year ago.
Ten months exports were 3S3,S73.6S0 pounds
against 46l.653.747 pounds In 1905 and 456. .9S00S1
pounds in 1904 Imports Of copper IN October were
1S,71S.0O0 pounds, compared with 15,5f9 1873
pounds in October last year. Ten months imports
totaled 145S64.S $50 pounds, against 49, 72s In
1905 and 117.32S.O76 in 1904.
GENERAL ELECTRIC RAILWAY.-The direc-
tors of the General Electric Company will meet on
Friday TO take action the dividend question
There is strong New York representation on the
board which favors putting the stock on a 10 per
cent basis On the other hand. II is pointed OF.
that the rapid growth OF the company has necessi
tated the ISSUANCE Of large amounts Of stock upon
which dividends have TO be paid before the cash
receipts from the sale OF the stock have developed
earning power.
LARGE IRON Observation-Disclosures, for 10000
tons OF iron for delivery IN the last half of next
year have made their appearance in the market
Producers are not inclined to sell far ahead
1t Is not believed that exports OF iron 10 this
country wi reach extraordinary proportions The
stocks abroad are low. and. If foreign buying con-
tinues brisk. they will become exhausted within
a comparatively short time.
IRON AND STEEL EXPORTS-The exports
of iron and steel goods for October 1906 amounted
to s15s1O4S7. against s12673 947 for the corre-
spending month of last year For the ten months
ended october 81. 1906. the value was sl42 600 go
which compares with last years sum Of sl155ss %.
IRON AND STEEL INIPORTS-The imports OF
iron and steel goods for October 1896 were valusd
at SSfN'oS. in comparison with g 255.I9i for the
same month of 1896. For ten months the aegre
gate was S7si6SO for 1905. whereas In 1906 IL was
S4l, $50 49,
APPLICATION TO LIST-Application has been
made TO the New York Stock Exchange To lie.
HoooWV additional general mortgage a. per cent
bonds OF 1892 OF the Chesapeake & Ohio RafI1vav
Company. and So.OSoooo preferred and SO no 900
common stock OF Sears Roebuck & Co
STRICKEN FROM THE LIST-The preferra,
stock of the Mahoning Coal & Railroad Cononarv
has been stricken from the list OF the New ~
Stock Exchange.
AMERICAN STEEL AND wIRE-The American,
Steel and Wire Company's specifications For vvtr
goods in the month OF November exceeded tbasa -,
any preceding month IN the current wear bv I ono
tons
CHICAGO BANKS HEAVILY LOANED J.,
years have Chicago banks been so heavily Ioare1
at distant dates as at present. Loans maturing n
March and April are at record figures Tb,s AZ
plains the general belief that high money rates
will continue well into 1907
DIVIDEND lNCREASED.-Director, OF thu
Mines Company OF America have declared a month
~ ui'iueha OF per cent Heretofore the dividend
has been ia per cent monthly
AMERICAN BEET SUGAR-Dfr.c+o- -, -,
American Beet Sugar Company have declan.d ,hs
regular quarterly dividend Of IL per cent IN tba
preferred stock OF record December 22 The div
dend is payable on January .
SUB-TREASURY TRANSFrPs
l treasury transferred for banks s75oOOo m sar
francisco and s25OOOo To New Orleans
new NE" TRUST COMPANY OFFICER-Georps 7
Dauiiiiih' iornerly vlce-presdent OF the M,
Amsterdam National Bank has been elected 81
president and director OF the Commercial rr,,s,
Company N''A trust
PROFIT ON CREDIT NOTES-Fisk & Pob,,so,
n"Ve @ issued circular showing the profit on cir
Under the credit note plan the bankers,
ON s55 o1a n 'th interest ut per cent the profit
~ S,'So cretiit notes taxed at 2ie per cent wouI1
,~j,h In NeW York SIS. with per cent money S{iS
,'nL ts PER cent money 500, and with I per rsC,
trv b sU,.- ne proht would be larser in the coUn
sa,. ,hat 10 per cent reserves permitted 'rhe,
sd aau me - per cent credit notes would nor b
III N'.Si money rates reach ~. per cent Raut
ci,Iatinn ueSlrtu 10 have outstanding much ,fN
80 "a as possible during the year would ,oiibr
In bond pan OF carrying 20 per cent OF capital
fun amonpt s circulation thus allowing for tGe
norne 80 or ~ per cent credit notes. while -
isSna55 s eie per cent notes which could onv r.
rates IL ottdioy during the periods of very hieb
a. t1!S way the average OF loo per cent ~
as v,c,4 Would De issued. Instead Of 81, per cenr