New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-17

FOREIGN TRADING.-Foreign houses dealt IN
1900 shares in the local market. purchases slightly
exceeding sales. In London the general market
was heavy. especially in the Copper shares The
saggng tendency represented In great part the
evening UP of accounts incident to the approach of
the fortnightly settlement. Money rates were
somewhat frrner at all the European centres.
MARKET GOSSIP-There was considerable sur
prise at the early weakness in Northern Pacific.
which after it's early advance declined to below
Thursday nights close In view OF the fact that
the Chicago, Burlington and Quincy Is earning u
per cent above the requirements Of interest the
joint As the bulls in this stock cannot explain the
reaction. Hill followers have been told to buy the
stock for go. The Guggenheim speciaIties were
well supported. So far their connection with
the copper deal has not become apparent. but con-
dent talk Of developments favorIng these issues Is
said to come from Guggenheim sources The dis
appointing statement Of earnings OF the Metropoli-
tan Street Railway caused some scattered selling
from holders OF Street Railway and Securities
stock who had bought when the merger scheme
first announced The Gates people were cred
tied with being sellers Of considerable lines Of
stock. both when the market was strong and when
1t weak. They" the most frequently quoted
authority Of room traders. predicting lower
prices with the publicity with which "they'
predicted advances a few weeks ago. Now they
are talking par for United States Steel preferred
IS for the common. 40 for Union Pacific. etc.
There was talk OF hitch in the Hill ore deal.
but such talk IS not well informed. An announce
ment may be expected at any time. At the close
Thursday the average prices touched the low
point reached the break January 80. There
are q good many traders who think that II the
average should go below that point the market
would have a still further decline The coal roads
all showed considerable strength on the reports
that the miners and operators will reach agree
ment within weeh or so, and as the bears had
relied considerably the expectation of q coal
strike this strength IN the coalers checked bear
selling. Rumor had II that James r. Keene was
hammering the market. but the heavy loss in cash.
which is much larger than was expected. had
probably a good deaf to do with the late decline
The announcement of sa5.oooOcO note issue by the
Mexican Central Railroad was not favorably re-
ceived and expectation Of further issues by other
corporations is not encouraging to stock market
bulls. Traders think that leading interests evil
IDENTIFY prefer bonds to stocks
BANKS LOSE MONEY.-Ths reported move
ments OF currency this week Indicate loss in cash
held by the banks OF S. 19 500. They received from
the interior S. 900 and the interior $780,
500 including a.sosOoo national bank notes sent to
Washington for redemption. The loss to the IN
terror was $2e5.S0a Receipts OF new gold were
s7663oo. namely. sSSS5u New-York assay office
checks SS62. 500 on San Francisco mint checks and
telesrapHic transfers and $4,000 Seattle assay
Office checks Gold exports N.75oO0 In coin
to Argentina Ordinary disbursements by the Sub
Treasury were SS4S7.7O0 Payments by the banks
to the Sub-Treasury for customs internal revenue
per cent redemption fund.- etc. SIS S5S.0O0
Inc loss on Suo-IreaSury operations proper
SA95.S00. The total loss the interior s2s5 500 by
gold exports 81 $4,000 and on Sub-Treasurv opera
lions proper A9iaSCo was s6.s6llOo Deducting from
this the receipts Of gold. $780, 500 the net loss
SG.194 500. Receipts OF currency from the in
terror were about S.Ooo.ooO less than in the pre-
ceding week. while shipments were about $4,000
greater
MEXICAN CENTRAL NOTES.-It was officially
announced yesterday that the Mexican Central
Railway Company had authorized the issue OF
S0.ON'GOo notes. which will mature four and five
years hence. The proceeds OF the notes Will be
used TO take up existing notes and other obliga-
tons and also to give the company funds for the
purchase of equipment and to meet other REQUIRE
ments In connection with the rapidly Increasing
traffic 1t is understood that the loan WA secured
on terms favorable to the railway company OF the
total issue OF sS5.OOOOOO notes. 100000 viii be kept
In the treasury Of the company for future purposes
GRAIN EXPORTS.-Exports OF wheat in the
current week amounted to 295l SCI bushels, against
S.2ilSS last week and $500 in the corresponding
week last year. Since July l total exports ~
wheat have been So, 921 O2S bushels compared with
4l.S6455 In the same period in the preceding year
Exports OF corn IN the current week were 41ss S52
bushels. against S66o.75o last week and 2SSs.770 in
the same week last year. Since July I exports OF
corn have been 1882 coz bushels. compared with
SS.47tSSl IN the corresponding period a year axo
GOLD IMPORTS PROBAEIE-In the c,Irren,
week there has been total decline or I cen, ~,
the pound sterling in the foreign exchange marker
and it is believed that the downward movement
will continue to point which viii mako nossi,,la
gold imports from Europe. Wen informed eorst,D
exchange bankers express tie opinion that ship
mentS OF the metal from Paris to Neyy-Yorx VIII
be made within the course OF the next three weeks
KNICKERBoCBER TRUST CoMPANY-Stock-
holders OF the Knickerbocker Trust Company Will
meet on February IS to vote upon the proposition
10 increase the capital stock from 81 10000 to 81
100000. The stock Is to be offered pro rata
par value 800. to stockholders at $1,000 a share
Il highest
understood that the issue already has been taken
up by stockholders.
WALL STREET ABSENTEEs.-The following "a
list OF prominent nnanclers and business men
VINO are OUT OF the city or who wiz leave soon; j.
Pierpont Morgan John d. Rockefeller charles NJ
Sehwab. W. T. Ries. William Rockefeller William
o. Rockefeller. James stilman. William X Van
deroilt' H. Mex. Twombly. James j. Hil John W.
Gates u o. Mills. George Croker Washington