New-York tribune., 1906-12-30
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses were not
active factors the local market, dealing IN only
q few thousand shares chiefly TO even up. In
London the general market was DUH. at unimpor-
tsnt changes. There movements OF con-
sequence on the Continental bourses- Money VIII
be stiff broad over the end OF the year, but not
stringent The Bank OF England is improving its
position steadily.
FOREIGN EXCHANGE CoNDITIoNs.-C schu-
rnacher & Co say:
When issuing our last repor. cell money ruled
n foreign exchange 70 1S2z. on Monday at which
price it has remained until to-day. When the de-
a enfs began 10 Be felt the rate ran up to il per
cent. This caused decline OF from 70 to lb points
;n prime sterling, and IL is now selling at 4s2o5
We believe the present high money rates will soon
ions iss which wifi result in substantial rise in
s9reign exchange after the turn Of the new year
well into the week. and must have greatly re- relieved
tet is now on a very sound foundation and before
long will broaden and that very mgeh NE mgaee Satr
Experienced the utmost difficulty in selling any
position 10 pay cash for foreign exchange, pre-
ferring 10 use their money IN loans on the STOCK
rates We Know our Southern customers much
Ss and we is to take this Opportunity to state
that It has been Impossible for some foreign . ex
.Ste; ao IL Lae 10 so & aoiS sorard to the new YEAR
10 bring much higher rates for our customers
bills The information we receive from rels pie
s4lhllg g9 lin vii he 1agseS bv the present
Congress and, Nf this, proves to be the case we
can expect very much easier money rates and,
naturally, much higher rates for exchange. es-
S1ad aSToad viii decline materially with any OF
money in this city.
TREASURY oPTIMISTIC.-The Treasury De-
-artrnent is advised that money Is now moving TO
Kew York, and q consequences ELL fears OF
-nonefary disturbance in the new year have been
removed in Washington financial circles. Local
bankers expect stiff rates this week bur grad
uaI easing thereafter until the spring demand de-
veIops though they DO not predict actual ease in
loans especially in the time department
sTcH1soS ORDERS MODERN SAFETY APP
PARATF-S-In connection with the recent accident
on the Southern Railway. resulting in the death
e Samuel Spencer, IL is interesting 10 know that
she Atchison. Topeka Santa re Railway Com
many has placed order with the westinghouse
A. brake Co,apany 10 replace all of the existing
brake apparatus their passenger trains with
che latest fo,In Of high speed brake Included in
The new brake apparatus is large reserve power
Ga the form Of stored air. 20 be used in descending
long grades thereby removing all possibility of ac-
oideuts which have occasionally occurred from the
loss % air pressure chiefly from ursked opera
ton.
THE COPPER nIARKET.-The copper market
IN New Yorl, might he characterized as irregular
owing 10 variance OF quotations given by diferent
,,roducers and selling agencies. While sales have
been made st . cents for lake copper. good sized
quantities have also been recently sold at "a cents
sor April and May deliveries. Other copper trans
actions IN which have not yet been contaminated
has also beer offered 81 "a cents
MOVEMENT OF CoTTON.-"The Financial
Chronicle reports the total receipts Of cotton for
the week ended December % at 2S lS bales against
s5. 2O7 bales IN the preceding week. making the
total receipts September J. 1906 57se43 bales.
gainst 5o5s f73 bales for ths same period OF 1896.
showing an increase since September j. 1906 OF 7oS-
go bales.
RANK cLEARINGS.-The total bank clear1ngs
of the United States for the week ended December
% f5ve days and day estinated) were s7s0 $751;
fos against IS s3Os9 ssi in the preceding week and
& o.r eo5 Z7s the corresponding week last year
PIG IRON cERTIFICATES-Pig iron certih-
Gates az the New York Produce Exchange were
higher hut there no sales. Prices for regular
follow: Cash and December. s21 bid. Quotations for
new standard foundry follow January. February
and March s2saszo.
ST PAUL. RIGHTS.-George w Ely. secretary
OF the Stock Exchange. has issued the following
statement: ION Clearing House balances OF St Panl
rights odd lots aggregating the privilege pertaining
10 such Clearing House balance viii be delivery
.n settlement Of same.
BATOPILAS HiGB GRADE oRE-The de-
tailed report of the operations Of the Batoplas
Mining Company for the hrst week OF December
has been received here. IT Is Understood That It.