New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-10-10
WALL STREET AND EXCHANGES.


FOREIGN TRADING.-Foreign houses dealt IN
were sales. In London the general market
firm. with further strength IN the copper shares
There was no change in the discount rate. either
IN London or Paris, but IN Berlin fractional adj
vance reported Paris exchange on London
higher.
STERLING EXCHANGE UP.-Thers sharp
advance in foreign exchange yesterday. as a re-
suit of the heavy purchases Of remittances by
bankers having TO pay of maturing Indebtedness
IN Europe These loans were made just after the
San Francisco disaster, with the privilege OF one
renewal which granted ninety days ago. A
large portion OF this Indebtedness fell due this
week The price OF demand bills on London. which
showed on Monday rise OF 10 points since FRI
day. went q cent higher and sold at asses yester-
day. In the opinion OF many bankers this rise
eRectuany stops the goli import movement and
may prevent rise IN the Bank OF England dis
count rate to-day.
AMERICAN SUGAR REFINING-Reports from
Cuba OF a trustworthy character to the effect
that comparatively damage done to the
growing crops or TO the buildings the planta-
lions Of the island in the recent trouble. Farmers
have returned to their fields and agricultural work
Is progressing practically the same as before the
Instruction From this IL would appear that the
American Sugar Refining Company, which owns
extensive sugar plantations and numerous mills in
Cuba. has not suffered 20 any appreciable extent
through the uprising
THE COPPER SrTUATTON.-The famine point
IN copper has almost been reached os all the Lead
ing producing and selling interests ars practically
bare OF the metal Notwithstanding the high
prices for the metal. inquiries continue TO pour in
from consumers. many OF these seeking supplies
as far ahead the second quarter OF 1891. Most
Of these demands. however. are being turned down.
as the sellers do not wish TO commit themselves
far ahead
AMERICAN SMELTING-At the Offices OF the
American Smelling and Refining Company II Is
said that the recent sharp advance in the COM
mon stock does not precede any developments OF
Importance in the affairs OF the company. The
earnings of the smelling company are large. and.
with the upward tendency OF the metal market
the outlook for the Shelters Securities Company.
the earnings OF which will benefit the refining
company. has never been better
PIG IRON CERTIFICATES-Pig iron certificates
at the New York Produce Exchange were IN
changed for regular and a shade higher for stand
ard foundry. There were sales. Prices for resu-
lar follow: Cash. October, November and Deem
her s1SGs1S 70; January S1s asked; February and
March s1s 25 asked Quotations for standard foun-
dry were: October. s2O9s21: November. s19 1881:
December. $40 5O9$2O January, SIS 1888 IS: Feb
ruarv and March. SO so asked
MONEY IN NEW ORLEANS.-The money mar
ket in New Orleans is unchanged with call loans
quoted at per cent. The demand seems TO be on
the increase. There is evident pressure for
actual currency for crop purposes and little de-
rnand from the banks for domestic exchange; in
fact most Of them have been sellers Commercial
bills are quoted at 81 Is discount with bank at $50
discount net Foreign bills have been increasing
In offerings, with the market IN sympathy with
New York
HEAVY SALES OF IRON BARS.-sales OF iron
bars in the Eastern markets have been exception
ally heavy the last week One company dis
posed Of several thousand tons 10 Eastern manu-
facturers on q basis of 81 so ton. IL is believed
that. in the event Of a continuation OF increased
consumption iron bars will be advanced before the
close of the current month.
STEEL RAILS.-Orders for more than 100. 900
tons of steel rails will probably be placed this
week One large system is IN the market for
large tonnage. and the Atlantic Coast Line Is IN
curing for % 900 tons. BY the close OF the cur
rent year 1t is believed that the rail mills or the
country will able TO report aggregate untitled
business Of between 100000 and 100000 TONS
TENNESSEE COAL AND IRON.-The meeting
Of the stockholders Of the Tennessee Coal and Iron
Company. at Tracy City. Tenna on the 18th Of this
month will be a formal affair. as proxies and stock
representing practically the entire capital have
been received all Of which will be voted in favor
Of the increase the capital stock OF the Tonnes
see company from sSOOO0.O0O TO s5o.OOo.OO0.
GOLD IMPORTS.-Bonds were deposited yester-
day at the Sub-Treasury 10 secure special United
States deposits OF S.S5OO0o by the National Bank
of Commerce against gold engaged for import. On
the current movement 81. 200 has been secured
abroad.
OLD HUNDRED NiINING-Regarding inquiries
from readers about the Old Hundred Mining Com
pany. IT may Do said that the company has rich
ore bodies. and that the development on the 800
and 1000 feet levels in the mines have disclosed
assaying high ST. a ton.
AMALGAMATED COPPER.-The Amalgamated
Copper Company has sold it's possible production
four months ahead Other companies are sold
from three 10 five months ahead
ELECTED A DIRECTOR.-At meeting held
yesterday of the Huntingdon & Broad Top Noun
tain Railroad and Coal Company. Samuel Heilner
OF New York and Philadelphia. elected a d.
rector of the company.
DIVIDEND DECLARED.-The Michigan State
Telephone Company has declared the regular QUAR-
terly dividend upon it's preferred stock OF He Der
cent. payable on November l. The gain in srh.
scribers for the eight months ended August 81 =,
H.
STEAM PUMP DIVIDEND UNCHANGED NJ
rectors OF the International Steam Pump ConDa,,,
have declared the regular quarterly dividend OF ~
per cent on the preferred stock. payable Novem
Der
NEW DIRECTOR OF BANK or NEW YoR1r
ANTON A Raven. president of the Atlantic Nf,,tai
insurance company. has been elected dire,for ~