New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-10-06
WALL STREET AND EXCHANGES.


FOREIGN TRADING.-Foreign houses dealt IN
900 shares in the local market, buying on balance
In London the general market with the exception
of Russian bonds. firm. There were no changes
OF Importance in the foreign discount market. and
no expectation of materially easier quotations in
the near future About 100000 gold will be avail
able in the open market in London Monday, and it
is thought that New York viii get the greater part
BANKS GAIN CASH.-The reported movements
Of currency this week indicate a gain in cash held
by the banks OF than SS000OOO. due to special
government deposits against engagements Of gold
abroad On the interior movement the loss was
So 4S1 100 The total gain by gold SS.57s2O0
and by United States deposits 100000. On Sub
Treasury operations proper there was a gain OF
$500 The net loss the interior was smaller
than In the corresponding week OF 1905 and 1904
Shipments to the South showed increase over
the preceding week.
NORFOLK & WEsTERN-Ths fact that the
Norfolk & Western reports a decrease in August
surplus over charges is due principally to the in
crease Of $1,000 IN charges and taxes for the month
This increase was little more than twice the gain
in net earnings for the month The company's
monthly statement does not separate charges from
taxes. but bond issues account for most of the in
crease mentioned. In the last year the company
has issued 100000 additional OF its divisional first
lien bonds and 100000 OF equipment trust notes.
Most of these obligations have been sold within ths
last six months.
IRON Observation-Disclosures sales Of No.
foundry iron for immediate delivery have been
made basis Of SIS. Birmingham. Future de-
livery iron commands from SIS 80 S16 ton Bes-
iron is scarce. and sales in the Pitts
burg district reported as high as so and S23
Practically the entire possible production OF
the valley furnaces for the first half OF next year
has been engaged.
APPLICATION TO DISQUALIFICATION has been
made TO the New York Stock Exchange 70 list tho
following securities: An additional s25.OOo.OOO Of
common stock OF the Chicago. Milwaukee & St.
Paul Railway Company; additional s3.3+s.OC0 OF
the per cent refunding mortgage bonds due in
1851, Of the st. Louis & San Francisco Railroad
Company; additional A9S3.OO0 OF the per cent
refundng mortgage bonds. due IN 1888. Of the Kan
City. Fort Scott & Memphis Railway Company.
COPPER SITUATION.-A feature of the copper
trade has been the recent withdrawal Of price lists
by number OF Eastern manufacturers using great
quantities Of the metal annually. preferring
under present conditions to name quotations at the
time of shipment. This action would seem to in
dictate that consumers looking for still higher
prices for the metal. Producers are talking still
higher prices The retail copper dealers are doing
some business at highest levels.
NEW CURB PROPERTY.-The property OF the
Old Hundred Mining Company, the stock OF which
has been placed in the curb market. consists OF
$4,000 shares Of the 10000 shares Of tho Midland
patented mines and mining lode claims aggregatinx
go acres. The company is negotiating for the re-
naming 5.9S per cent of Midland stock which when
acquired, will vest the entire ownership Of these
mines IN the OIu hundred company. 1t has also
acquired the mining properties of Niegold Brothers
and Oscar Roedel. OF Silverton, Col, consisting OF
fourteen claims, also aggregatng 2SO acres: Also
the entire property OF the Hawkeye Consolidated
Mining Company, covering twenty acres. The COM
pary also owns a 1Go-stanlp mill and ore reduction
plant power and compressor plants tranlway lines
water rights and all right, title and interest OF
Howell Kinds. OF Cleveland. in these properties and
improvements. All this property IS located on
Galena Mountain, in the San Juan mining district
rI1r1rir Qbpu
Railroad. about five miles north of Slyerton The
property IS easy OF access. and mining be car
ried there the entire year. All the details In
regard to the organization and the issus OF stock
arranged by the firm OF Guggonheiner Inter
myer Marshall, of New York
VULCAN DEFINING DIVIDEND.-Ths Vul-
can DEFINING Company has declared a quarterly
dividend of Ia per the preferred stock paw
able October 20 1906. The company has built and
has just completed large addition TO it's Sewaren
plant, thus increasing its capacity by one-third
The cost Of this addition. together with its com
plete equipment, has been already paid for out OF
the earnings OF the company. Further improve
ments have been planned and are now under wav
On account or this extraordinary expenditure OF
earnings the directors have deemed 1t wise and
conservative TO pay part OF the deferred divi-
dends at this time, but with the increased earn
ings which will result from this increased capacitv
II is hoped and expected that payments OF the back
dividends due TO the holders Of the preferred soc
will be resumed at early date
REDEMPTION OF FRISCO PER CENT,
Is given that the second mortgage
8 per cent bonds Of the St Louis & San Francisco
Hallway Company. series A, and c. now ont
standing 20 the amount Of s. $3.50 800 and MATURING
on November l next. will be paid at the oflce-nf
Redmond IL Co, No. 80 Pine street. The opttoD ia
given by Redmond & Co. OF exchanging these bonds
Tor retunding Fer bonds OF the St louis
& san Francisco Railroad Company at S3IL and in
terest, tho maturing bonds be taken at par and
accrued interest 10 maturity less discount at the
rate or : per cent year. Redmond & Co. reserve /
the right 10 cancel the exchange offer AZ any Tina
PIG IRON CERTIFICATES iron certificates
at the New York Produce Exchange were steady |
and firm. There We're sales. Prices for regular |
follow; Cash. SIS lO0SlS 5O October SSG$S so; De-
cember. SIS 20; January. February and March, SO Is l
asked Prices for standard foundry follow: Octo- /
Der Sls 90 bid; November, SO 90al$l4 Co. December
$40 &QSs 60; January. $19a$l9 80. February $40 .
asked; March. SO asked
GRAIN EXPORTS FOR THE WEEK-''Brad-
streets reports the exports OF grain for tho week
with comparisons. figures In bushels. follows:
Wheat Hour included. As17O2i against 4S7465S last
week lOl26i2 in this last year HOSES In 1904
ana Af9SS IN 1901; for tho fiscal year to date /
AfSVh. contrasted with l7.O99S75 In 1903. B5is.7lI
m ls0i and sS0p 1872 In 1901; corn, Si6o9s compared
with 4toS6i last week. SSS in this week year
ago and 6a2Sll In 1884, for the fiscal year to date
iSuoSo agniAs 1880 ~ in 1898 and Sl9OSs In 1904