New-York tribune., 1906-10-03
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
s5,O00 shares in the local market. of which 10000
shares were purchases. In London the general
market quiet. Consols were heavy and the
copper issues were strong. Money IN active
demand, and opinion favored the idea that there
would be an advance in the Bank OF England's
minimum rate of discount tomorrow. On the
Paris Bourse prices were lower.
AMALGAMATED COPPER-Interests identified
with the Amalgamated Copper Company. while en-
thusiastic the present condition Of the copper
market and the outlook regret the fact that prices
are being forced up to such high levels. They at
tribute the high prices at which copper is now
selling TO the disappointingly small increase In
production in the face Of extraordinary increase
in consumption A representative Of the company
SAYS that people who are looking for Increase
of 10 per cent In the output of copper this
year will be disappointed.
UNITED STATES STEEL EARNINGs.-Whne
the reports from the subsidiary companies OF the
United States Steel Corporation have not yet been
received at the headquarters OF the corporation.
steel manufa acturers estimate the earnings for the
quarter ended September 80 at between SS9.000OOO
and S40,O00.OO0. One steel representative figures
they will be around sS 100000 or about 5000 900 lower
than they in the second quarter Of the year
The slight falling of IN the third quarter is due as
generally known, to the hot weather, which al
ways retards the operations OF the steel mills and
furnaces.
TO RETIRE STEEL FOUNDRIEs STOCK
At the annual meeting Of the stockholders Of the
American Steel Foundres Company. held in Jer-
sey City yesterday the retiring board OF directors
reelected. The stockholders also voted to
approve the proposition OF the directors to retire
1900 shares OF preferred stock and Is 500 shares
Of the common stock Of the company now held In
It's treasury
PACIFIC COAST SELLS LAND TO HARRI-
MAN.-The Pacific Coast Company has sold to
Union Pacific interests certain lots IN Seattle for
SR0,000 The profit the sale TO the Pacific
Coast Company large. the land having been
carried IN the Sompany's assets at a nominal
figure This sale did not include any Of the Pac-
fc Coast COmpany's valuable terminals. but merely
few lots which the Union Pacific was anxious to
acquire.
ATCHISON'S YEAR.-Examination Of the fun
annual report of the Atchison for the last fiscal
year reveals between S0O0060 and 100000 OF earn
ings absorbed in excess maintenance charges. This
is rather less than there had been reason to ex-
pect, TIE concealed earnings having been pre-
viously estimated at about S 5000O0O The differ
ence IS IN part due to the fact that the company
added 127 miles Of new road TO the lines included
in Its income account and partly TO the fact that
cost Of conducting transportation used up a some
what larger percentage Of gross earnings than had
been expected.
GOLD IMPORTS.-The National Bank of Com
merce deposited yesterday SS650O0 IN bonds at the
Sub-Treasury to secure advances against gold
imports. The National City Bank received yester-
day thirty boxes OF gold valued at S2OOO00 marks
which arrived on the steamer Kaiser Wilhelm der
Crosse.
PIG IRON CERTIFTCATES.-P iron certificates
at the New York Produce Exchange were dun but
firm. There were no sales. Prices for regular fol-
low Cash and October. $1S6S1S so; November SIS 1O1
SIS 60; December, SIS 2OQ$1S 20: January February
and March, $40 asked. Quotations for standard
foundry follow: October. November and December
SO 5odS21 January, February and March. S19qS2O
ASSOCIATED MERCHANTS DIVIDEND J-N-
CHANGED.-The directors Of the Associated NIer-
chants Company have declared the regular quar-
terly dividend the first preferred stock OF IL
per cent and = of per cent extra; also the regu-
per cent extra on the second preferred. both pay
able October 10.
SOUTHERN PACIFIC BONDS.-Kuhn. Loeb &
Co. and Speyer & Co have purchased from the
Southern Pacific Railroad block OF consolidated
refunding per cent bonds. the proceeds of which
will be used the retirement of $7,i010o0 OF per
cent bonds which fell due the first OF the month
The refunding bonds a part OF issue OF
S6OOOc0OO authorized in 1904. OF which S75O00.O00
were sold last wear.
HILL ORE PROPERTIES.-An authority on ore
lands estimates that the value OF the ore properties
of the United States Steel Corporation. including
the Hill properties just acquired is equivalent
to the capital stock and bonded Indebtedness OF
the United States Steel Corporation
STOCK EXCHANGE SEAT SOLD Open
helm has bought seat the New York Stock
Exchange for $4,000. This price compares with
S95, ,OO0 the last preceding sale.
DIVIDEND INCREASED-The directors OF the
American Telephone and Telegraph Company have
declared a quarterly dividend Of . per cent This
compared with IA per cent heretofore.