New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-04
WALL STREET AND EXCHANGES

FOREIGN TRADING.-Foreign houses sold
stocks in the local market 10 moderate extent
In London the general market dull and with
out any important feature. Russian bonds showed
some strength The idea in London is that money
at that centre and the Continent will ease
off materially, owing to the uncertainty over the
international political outlook
MARKET QOSSIP.-The selling at first aDnoaro5
to come from the Chicago houses but afterv,arl no
came rather more general. The best exclamation
seemed to be that the market had been rallied FOO
fast and too far and the bull account was CARRYING
more stock than II coull handle London startaj
the decline in Union Pacific and probably. was.
substantial seller of other stocks throughout tho
international list. The Western element had an
palentiy taken fright again and appeared to no
SeHhlS both Reading and Colorado Fuel. two stocks
which they took hold on the theory that +b
weak bull clement had liquidated. The pressure in
pennsylvania was part of the movement apaipst
both the soft and hard coal stocks Issues not
stedI! dctlNe recently like Ontario and Western
also suffered severely. The carly pressure on Road
lFe was the most striking feature of the opening
trading 1t IS recognized that the labor situatio ie
decidedly more unsettled and. besides this trader
report weak technical position They say the stock
was III fact rallied too soon and far with the re-
suit that the bull party is already carrying as much
stock as it about. There was some ea,I,. III
ing in Union Pacific, nominally for foreign account
but really representing stock previously sold for
New-York and London. Conservative and wen =,
formed houses expecting dividend Of . 10.
cent fiat next Thursday Commission houses ,,aro
particularly disappointed with the action of 1-itl
States Steel. 1t sold off so sharply at the o,t
tna' 'heS Were oohged 10 admit the possibility Of
more extended and weaker bull accom-, -
they had supposed 1t is probable however tIat
there was some selling of stock on the n,atrrin,,
cails IN London One of the reasons given for tba
decline is that certain banking interests intip,at1
very plainly TO the active Western element that
'he present was not suitable time for an i'm
meoiate resumption of the bull movement A Min
threat was made to call loans which have expanded
more than the banks like
FOREIGN EXCHANGE CONDITIONS Sob,
macher d Co. say:
foteIgn exchange during the week Auctuo,a,,
WITHIN very marrow limits. the rate for det,'aeG
slcIHg practically remaining stationary az "a 80
10 DC sure at times advancing i've nointSS -,
again easing off 4S72D The bnstn plii's, tHtn
week was rho smallest for the season the s,,nni'
OF conItnercla nils being very limited and the a.
mana Tor ,renittances on the part OF importers and
bankers also being very small Bankers saer'a5 ~
ne un"llhhe N trade partly, doubt ON arNo,,n ~
OF me poor mali steamers Of the mn ~
Gay . pela'ed third rate steamer on Wcdnasda.' :,
seconc rate steamer 10 Holland and ON Tbi,rsdsS "
fIehch steamer. each of which took spe~iaiI1r
dressed letters to Europe and the Continental