New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-27
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foretgn houses were not
active factors IN the local market their transac-
lions amounting to about 10000 shares. mostly
sales In London. consols were unchanged. but
foreign bonds heavy The general mining
market was weak. but the Copper shares were well
supported The serious depression IN the South
African mining market. continuing after the long
decline. is the governing market factor in London
az present Money conditions are not seriously dis
turbed and rates ought 10 work easier after the
end of the month. especially If the International
political situation Is undisturbed
MARKET GossIP.-on the floor there was
little more bullish feeling. especially Amalga-
mated Copper and Union Pacific Traders with
bullsh incnations pointed that in spite OF the
liquidation in the market last week the tone had
rather improved than otherwise. The announce
ment that members of the firm of Kuhn. Loeb &
Co had withdrawn from all railroad boards on
which the firm represented did not AFFECT
market sentiment. There was considerable division
Of opinion regarding the buying which started the
advance The bears ascribed il 10 manipulation by
Keene and Field while in bullish quarters the
buying described of the best kind. The
early rally in Consolidated Gas gave way in the
afternoon under renewed pressure. and the stock
touched new low level Investigation of the
sources of the selling confirms the opinion held
by number OF prominent brokers that good deal
Of this selling OF Gas is manipulation The break
in Gas and belated renewal of stories of a hitch
in the ore deal were the only bear arguments in
evidence on the floor. Commission houses are pay
IL
though call money is apparently easy they are
looking ahead and discouraging any extesnfvA
commitments. The bringing out of the new Butte
Coalition stock the curb timed in coniunc-
ton with the movement in the Copper stocks on the
board. and their general strength was due 10 SIM
port from people identified with the new conopan1,
The advance in Rock Island common was made ON
very small transactions The specialists generally
are understood 10 have little stock for sale around
current prices.
STEEL SITUATION STRONG-A representative
of the LaCkawanna Steel Company saws. .-Tbts
year the United States will produce more nnishAd
steel. more pig iron and more iron ore than sva~
before In history The earnings of the vario,,.
companies will also break all records The stael
situation is remarkably sound and the question of
making deliveries on specified time is beco,ninr 81
serious problem The railroads are taking rror.
material than expected I'm the latter mart NJ 1,s+
year The question of making deliveries is a moro
important one than the question of getting t., new.
business" '0"
BANKS LOSING MONEY.-The hanks On s,,,
day lost S26S.0O partly on account of x5oo On, -,
lot mlhtihg Mexican coinage and since F'ridav ~,
ost $'b'V0 In addition. the Sub-Treasur, ba5 .
credit yesterday morning for SIOS2O2l These Iossa
are understood TO represent the irawine a., -
New-1ork balances by Western centres. princ,rau,
chicago and Cincinnati. Up 10 the eIose - t''
S4i4OC0 N'u gained
COPPER PRICES HIGHER.-The prtc, e.
per advanced Is cent in the local market vests,
ioiIoWlhs similar advance recorded LAST t,r,,
hahihs an advance OF II, cents so far tbts '
i"'' places the price for spot Lake copper a. ~,
ana Eleetrolytc at is with casting an II taIs S
ASSOCIATED MERCHANTS DIVIDEND n
,Ss '''a -aerehahts Company has declared The
'ssu'a' quarterly dividend OF IL. per cent ana ,hs