New-York tribune., 1906-11-16
WALL STREET AND EXCHANGES.

FOREIGN TEAD1NG-Foreign houses pOuSAt
5000 shares IN the local market and sold 10000
shares In London the general market firm.
Consols were higher while Russian bonds were es-
pecially strong. TIE Bank OF England made no
change in its minimum rate OF discount. and the
weekly return exceptionally good, showing a
marked increase in the proportion of reserve to
liability. Money in fair demand at the British
capital Discount rates at the various European
financial centres unchanged.
UNION PACIFTC-More than 224Ooo shares OF
Union Pacific stock changed hands yesterday. and.
according to trustworthy information, Mr. Harri-
and his associates were active buyers. Trad
short OF the stock trying TO keep the price
down. and a keen contest in the issue is under
way, with yesterdays results all in favor OF the
advocates of higher quotation. There is rumor
that Union Pacific securities holding company
will be formed to manage the Hartman invest
ments. The Union Pacific report which will be
issued next week. will make a splendid exhibit.
showing large income both gross and net, from
operations and from Investments
ROCK ISLAND OF'FICERS-Meetings OF the
directors of the Chicago. Rock Island & Pacific
Railway Company. the Chicago Rock Island & Pa
Cifc Railroad Company, the Ksokuk & Des Moines
Railway Company, and the Peoria & Bureau Val
ley Railroad Company held yesterday for
organization purposes. All officers and members
OF executive committees reelected in the
of all the roads, except the Chicago. Rock Island
Pacific Railroad Company. The changes in the
officers of the last named were the election OF
George T. Boggs treasurer instead of assist
ant treasurer, and OF B. F. Yoakum as a member
of the executive committee to succeed W. B.
Leeds.
KINGS COUNTY ELECTRIC COMPANY To
ISSUE TREASURY STOCK-The directors OF the
Kings County Electric Light & Power COMPANY
have decided Issue 81 800 GOO OF stock now in the
treasury which authorized by the sharehoId-
time ago. This will make the outstand-
ing capital of the company sloooo.OOo. Holders OF
record December 81 will have the right to sub
scribe TO the stock about TO be issued at par in
the proportion of nine shares for every forty-one
shares held. The stock must be paid for by March
l next. The right 70 subscribe to the stock ex-
pires February l.
CHICAGO & EASTERN ILLINOIs-At the
meeting OF the directors OF the Chicago & Eastern
Illinois and Evansville Terre Haute Railroad
companies A. J. Davidson resigned as president
of the companies, and H. L Miller at present vice
president. was elected TO succeed him The change
was made at Mr.. Davidson's own request. in order
that he might devote his whole attention to the
development OF the St. Louis San Francisco in
the Southwest including lines which 1t is con-
structing in Texas and Louisiana
PITTSBURG BANK STATEMENT.-A summary
Of the statement issued by Pittsburg National
banks at the call OF the Controller shows deposits
of sl72O 743. comparing with S7SG7.ssS on Sep
tember and 1854 .422 November O. 1906 Loans
and discounts reported at s1sf1ss. $40 against
S43,417S93 September and sl35 05 S4S on Noveu-
Der 9. 1905. Surplus and undivided profits are $50
OsO552 against s9s.Os4s71 on September and sS-
920 422 November 9, 1905.
EMPRESS COMPANIES ON ROCK ISLAND
The failure OF the Rock Island TO renew existing
contracts with the express companies operating on
It's lines at their expiration means loss OF gross
business to the latter companies OF about S. 500 On
based the earnings OF the Rock Island Frisco
system from this service IN the fiscal wear 1915
This loss viii fall helviest upon the Wells Fargo
Company. whose gross business on the system In
1905 was over 50 0000oN
COPPER sITUATION.-A leading copper interest
says that. while the market is not active there is
some business booked for the first quarter of nAxr
year at prevailing prices. Sales of lake have been
made this week AZ 22ia cents. this mark having
been firmly established some ays ago by the C'sl,,
met and Hecla company. Europe is stiu feeling for
American copper vet the foreign consumers ara
obtaining Of their requirements from other
fields. The Rio Tinto company. Of Spain is sold
out through the end of the current year Thts
company handles its own output and sells In the
open market In London
STEEL PLATES ADVANCED. - Independent
manufacturers Of steel plate have advanced prtcas
s. ton. The Lukeus Iron and Steel Company
the largest manufacturer OF steel plate in the Fast
has put up the price from 81 50 to 81 20 a hundred
pounds Pttshurg. Producers attribute the adverc,
10 the rise in and S, unfinished ynnterial -,
the face Of an extraordinary demand They say
the margin of profit in steel plates is narrow NOT
withstandtng the higher price.
PIG IRON CERTIFICATES Pig iron certificates