New-York tribune., 1906-09-30

December. SIS 80 asked; January, February and
March, s19 asked. Prices for standard foundry fol-
low: September, 800 asked October. SO Is asked;
November and December. SO 25d$Eo; January,
SIS S4Sl9 80: February and March, S1S 80 asked
TREAsURY's SEPTEMBER SURPLUS The
Treasury surplus for September will approximate
H2.0OOOoO which means that that amount OF money
In excess of expenditures taken out Of cir
culation during the month and locked up in the
Treasury. October is month OF large expendi-
lures. and. should receipts keep up. at the
Treasury it Is believed that a deficit for October
almost equal TO the September surplus will be
shown.
REPUBLIC IRON AND STEEL-Ore of the
two and modern blast furnaces which the
Republic Iron and Steel Company has been erect
ing In Youngstown, Ohio. will be started or Mon
day. The second furnace will go into blast few
months later. The furnace will add largely
to the iron capacity of the Republic The
poraton's mills active that II has been
forced to make large purchases of pig from
independent companies.
BONDS OFFERED-Messrs N W Halsey &
Co.. bankers OF New York. Chicago. Philadelphia
and San Francisco. Offering the unsold balance
OF $4,000 city OF Galveston per cent bonds. The
bonds issued for the purpose OF providing funds
to raise the grade of the streets supplement the
work of the government and county in building the
wall An interesting statement IN connection
with the offering is that Galveston IS only sur
passed by New York City in export values and
ranks eighth in imports. Last year Galveston ex-
ported over 100000 bales Of cotton than New
Orleans.
PACIFIC COAST.-Certatn Wall Street interests
who believe that the St Paul is about TO increase
its capital stock have a we'll developed idea that
efforts will be made by the ST Paul interests to Sc
cure Pacific Coast stock in order TO secure control
of the Pacific Coast Company's valuable terminals
In Seattle.
FOREIGN EXCHANGE CONDITIONs-C. schu-
macher & Co. say:
Although the supply OF commercial bills has been
very liberal and there have been increased Offer
ings OF cotton bills for prompt shipment prime de-
part or the week, but declined to-day over i-32 per
cent and Is now selling at 1926. Exchange has
now reached point where it is impossible for
Europe to hold its gold. and our banks are IN a
position to import much OF the yellow metal as
conditions require We believe that as soon as
the exchange drawn against the heavy exports OF
cotton is offered in this market our banks will
solve our disturbed money conditions. Discounts
In Europe had such a sharp advance last week
that II was only NATURAL to expect temporarily
lower rates and discount has declined from As. 10
| "a In London. Although the drain on that centre
is very heavy for gold. 1t is quite so insistent
as week Or two ago. when our banks imported
from s20,O 600 10 s25.00O000 in one week london
knows that IL will have stand the strain Incl
dental 70 the moving Of our crops. and naturally
they Will try TO keep money easy possible al
| that centre that home enterprises and trade NAV
not be interfered with. Nevertheless, must ex-
pect 10 see higher money rates abroad when our
| exports increase from this centre.