New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-10-14
WALL STREET AND EXCHANGES.


FOREIGN TRADING.-Foreign houses were no.
active factors IN the local market. selling few
thousand shares. In London the general market
was quiet and steady. except IN the case OF the
copper issues. which were heavy. The high money
rates in London tend to check speculative activity
that centre. While there will be a substantial
amount OF gold In the open market tomorrow, i.
is not likely that any OF it will be taken for New
York account, owing TO the high rate OF exchangs
at the latter point.
LONDON SITUATION.-Ths heavy demand for
cash for internal circulation has somewhat ssri-
ousIy weakened the position OF the Bank Of Eng
land. Advancing the bank rate necessary.
even il only to check the Cow OF bills which haze
been presented TO 1t by its clients WAC ara
anxious 10 take advantage Of the concession made
in their favor. This policy has undoubtedly
ously affected the business OF bill brokers, who
will be only too glad OF the advance IN ths official
minimum rate. provided that il is unaccompanied
by further discrimination between the market and
the banks own clients American bills stl
coming forward fairly freely but rates quoted for
discount OF the high, and n addition 20
this. the banks and brokers viii renew only por-
ton as they mature this month.
UNITED STATES STEEL BONDS.-Ths sale Of
United States Steel sinking fund dves 1O0l4 MARKS
tina highest level which the bonds have reached az
any time since they put upon the market in
1905 Last April they touched 100ls. but quickly sold
or again and. until the announcement OF the terms
OF the deal. ranged between 81 and 90. Taking
into consideration the large increase in the cor
poration's net earnings and the strengthening o.
it's position through the lease Of the ore lands
believed that the bonds are now upon basis which
can maintained with less difficulty. at least Until
the next depression IN the steel Industry.
COFFEE SURTAX--COnSUlar reports state that
the surtax OF 81 cents bag on coffee exported
from Brazil Will go inco effect sixty days from
October or December I. 1905. Discussions CT tbs
effect OF vaIorization upon prices indicate that ths
rather than Upon the consumer. Whether the H.
crease be shifted and to what extent is as ys;
problematical
LARGE EQUIPMENT ORDER-The Buffalo.
Rochester & Pittsburg Railway has placed orders
amounting 20 loco 900. including twenty loeouo-
tives. TO be built by the American Locomotive Com
pany az the Dunkirlx shops, and five hundred steel
cars. fifty tons capacity each. Delivery begins
early IN the spring.
PIG IRON CERTIFICATES.-Pig iron certificates
at the New York Produce Exchange were STEADY
There were no transactions Prices for regular
were: Cash. October. November and December,
s1sQs1S IS: January, February and March, Sls-S
asked. Quotations for standard foundry IoHo"'
October. SIG 50Q$2O 90: November and December
SIC 5J0s21 January, February and March SlsaS-s.
MOVEMENT OF COTTON.-''The Financa4
Chronicle reports the total receipts OF cotton 'V
the week ended October - at S45062 6a'sS s5~'2@-
3l2 4s7 bales in the preceding week. making ths
total receipts since September L 1905 lSS2Jo o@ss
against I,6I32S4 bales fOr the same period N Nv
showing a decrease since September !. Lsa u
2S1. 800 bales.
FOREIGN COPPER SITCATION--Experts !"
London say that the copper situation IS almost ~.
paraleled and q famine OF the metal IS expec'e~
The reserve stocks in Europe are threatened WI
extinction. and sensitive markets are predlcleo
"A consequence Speculation by outside interests
being discouraged. .,s
NEW SECRETARY FOR BOWERH saw,
BANK--Wul,am Z. Knox has been elected SCI
tary OF the Bowery Savings Bank, to succeed -
late Walter Coggeshau- -.
BANK CLEARINGS.-The total bank ee~-n S-
OF the United States for the week ended Oc'ge e.,
lS zone day estimated) were S.lS.2S.S-I As ~
So, 436 354 SS4 in the preceding week and S-N'0N'
fer the corresponding week last wear -.
WHEAT EXPORTS.-From the Atanuc -
GULF ports the Produce Exchange reports
rleut Of 20 le5.C0O bushels OF wheat since Jug 49,
Last year this total was I+.SlLoco bushels anu -
year before 1851 coo bushels. ,..
BROOKLYN FERRY BONpS,-fhe F'os ',n.ss
committees sor thu ho!ders OF The Hrs' eoD'0-s, 49,
mortgage per cent afty-ye0r bends OF ths 80 F,r
Iyn Ferry Company o. New York anIouHe hsss
mere then a majority OF the said BONDS I3.9,pany
deposited with the kuicRsrbocAer t'S = 80 Tas
under the agreement dated August q Ids VII
time limit sor the depOsitinS ~ taS sAiS
OctOber Is. lgNG