New-York tribune., 1906-11-22
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt IN
1900 shares in the local market, OF which 1eOoo
were sales In London the general market was
heavy Money was in fair demand. influenced to
some extent by uncertainty to the amount OF
gold which will be required TO meet the Brazilian
demand Discount rates were slightly hrmer in
the British capital, but there were no changes In
the Continental markets.
PARIS GOLD FOR LONDON.-The fact that
Paris has shipped TO London more than s2Oce0oo
gold apparently indicates that the Bank OF France
is beginning to realize that the need for gold In
London is urgent and that unfavorable conditions
in the London money market affect adversely the
money markets throughout the world. The action
of the Bank of France in shipping the metal TO
the British capital is similar to that of few years
ago when the monetary situation at this centre be-
came and the Bank of France practically
was compelled to send gold to the United States
in order to help out the money market here.
INTEREST IN MINING SHARES.-At present
there in town many men who are actively iden-
titled with the promotion of successful mining
ventures and they believe that the current activity
In mining shares will continue for months to come.
Development work in the Cobalt properties. IN the
new fields in Wyoming including the Portland min
ing property. and in Nevada is producing salts
factory results and the fact that substantial capt.
tasts investing in the first class OF mines indi-
Gates that the strength IN the best mining issues
is based on heavy deposits of which are being
scientifically and economically developed. There
are number OF mining shares, however, which
prdcIlcally are OF no intrinsic value, and people
who wish to place their funds in mining securi-
ties ought to consult representative brokers before
they make purchases.
BUYING CANADIAN PACIFTC-A number Of
powerful capitalists have recently purchased large
amounts of Canadian Pacific stock and thev believs
that the shares eventually will sell on a level with
those OF the Great Northern and Chicago & North
western These purchases were based on the enor-
nous earnings of the road, the rapid develop
ment of Canadian industries and on the increase in
he lario NJ he ofDi0, IT.
Pacific has made most remarkable record in the
last two years in its earnings from general traffic
while its receipts have been heavily increased
through the sales Of lands which are rapidly ap-
preciating in value
COLORADO FUEL AND IRoN-The net earn
ings Of the Colorado Fuel and Company for the
four months ended October 81 show an increase OF
s15so0o the net earnings for the corresponding
four months Of 1905. 1t is said that the company
is now in strong financial position with 81 OOO 900
cash in hand and excess of current assets over
current liabilities of nearly s6OOO.OO
LOUISVILLE & NASHVILLE DIVIDEND-The
bull talk on Louisville & Nashville stock comes from
the uptown speculative element which makes its
headquarters at the Waldorf-Astoria- People who
are not we'll informed regarding the ownership of
various railroad companies in this country fncI,,d
Ing the Louisville & Nashville may infer from the
activity of this speculative clique that il controls
the dividend policy OF the various transportation
companies in the United States The Louisville &
Nashville dividend will be decided by the owners OF
the property. namely. the Atlantic Coas. Line Com,
pany. and not by John ". Gates and his follow
ers' Mr.. Gates has made great deal OF money our
OF Louisville & Nashville stock but he is not In a
position TO dictate the dividend policy OF the com,
pany.
BOND NOTES-Notice has been given bv ths
New York. New Haven & Hartford Railroad Com
pany of an offer to exchange one share Of ,ts
capl'u STOCK. par value s1GD for each 500 face
value OF the fifty year per debentures of the
Consolidated Railway Company of the issues os
July l. 1901; January 2. 1895; April l. 1906 and Jan
ary 1906 The exchange may be effected I'D 70
June go 1907
THE COPPER MARKET-There Is a r-ss =,
quiry for Lake copper in the New York marks,
and 221a cents is bid for large amounts FairI1,
heavy sales of this grade metal recently hav, hea,
made. and domestic consumers are still In the mar
ket for large tonnages, many of the inouirt.. -.
resentng 100000 pound lots
HEAVY LOANS BY WESTERN INSTITUTIONS
The late break IN call money rates yesterday
afternoon was due TO heavy offerings for the ac- |
count or western institutions IL was said that |
prominent Chicago trust company lent a on, on ana
ket ' '''t
PIG IRON CERTIFICATEs-Pts iron cA-+,a |
Gates al the New York Produce Exchange were
STEADY lnere We're no transactions Prices for |
regular follow: Cash. November and December |
lsqss so Quotations for new standard fo,ndr,,
follow: January. S22gs23; February So "a asked.
March. S21 51QS22 So
APPLICATION TO LIsT-The Portland Railway
Company has applied to the New York Stool r.
,hange TO list S.sS20o first refund,ny r,ota.r
Der cent bonds of 1880
CURRENCY FROM CHICAGo-chicaxo na,,.
VIII snip slo"ooo to New York this week as
against 100000 last week
NEW DIRECTOR OF THE ROurrNc cpv,r-
TRUST COMPANY.-Franklin O. Brown a r,.r,
'ef OF the firm OF Redmond & Co. was yesterda,
hected director OF the Bowling Green Tr,,s,
company. TO fill d vacancy.