New-York tribune., 1906-04-11
EXPORTS OF MERCHANDISE.
Week ended April 10 S11 $50 495 s245.4ss s9.22e 900
From January 91S624 1+6. .T15O44 1881 S43
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses bought
5000 shares in the local market In London the
general market steady and inactive. except in
the American department. London was materially
helped by buying for New York account. and reas-
surfing reports the labor situation and the New
York money market. Money easy abroad. IN
spite of the preparations for the Russian loan
which in any case have almost certainly been an
ticfpated. The size of the issue IS larger than
people had expected. but substantial part
will be taken of by the underwriters OF the
last loan.
MONEY MARKET CONDITIONS - large
amount of out-of-town money was offered IN the
local market yesterday. and IT was effective in
breaking the for loans from 90 to 10 per cent
but the supply from out-of-town sources
was exhausted the rate Immediately advanced and
local bankers suddenly came to the front with round
at the better quotations The opening rate
was % per cent. the highest rate % per cent.
the 10 and the last loan at 70 cent. with
closing bids IS and 10 per cent. Since Friday
night the local banks have lost their operations
with the Sub-Treasury over 100000. but this
amount will reduced. owing to the fact that the
Sub-Treasury yesterday debtor at the Clear
ing House the extent of over SG0OO due In great
part to pension payments The continued heavy
fall in the foreign exchange market brought the
rate down a point close TO the figure at which
English sovereigus be imported 1t was re-
ported late in the day that prominent banking
firm had arranged to bring in large sum in Sow
ereigns
COPPER SITUATION.-John r. Stanton says:
THE copper situation is sound. I understand that
a great many producers have sold out practically
all their possible production until the latter part
of June. Sales have been made far ahead
September delivery. have not heard OF any
copper sales above 1sa4c a pound for future de-
livery although they talking 20c spot copper
in May
WHY NO GOLD IS ENGAGED-The reason why
the drop in demand sterling to 1895 has not been
followed by engagements OF gold for imports IS
that there is more bar gold in the London open
market. Probably the Bank of England will not
sell bar gold for export TO New York. II refused
to do so in 1908 There will arrive In London next
week about 100000 bar gold. and Paris will bid
for that.
NEW HAVEN SELLS s15O0o,OOo DEBENTURES.
1t is officially announced that the New York. New
Haven & Hartford Railroad Company will issue
s15OO00N ifty-year per cent debenture bonds for
reconstruction work the system. The proceeds.
IT is said will be used complete the electric line
between WoOdlawn ard Stamford. and for the
improvement of the roads of the system formerly
leased ny the company, but recently purchased
II is understood that J. ?. Morgan Co. head the
syndicate which purchased the issue.
HEAVY RAIL ORDERS-Rail orders aggre
eating $1,000 tons placed Monday making a
total business of more than 100000 tons since the
first of the month. There seems to be no let up in
the demand for rails and ia the history of the
steel industry have conditions been congested-
No aggressive campaign is made for business,
and in a number of cases orders calling for nearby
delivery have been refused
CAST IRON PIPE DIVIDENDS UNCHANGED.
Directors of the United States Cast Iron Pipe &
Foundry Company have declared the regular quar-
terly dividends OF ia per cent the preferred
stock. and i per cent the common stock.
2. G. c. & ST. LOCIS.-At the annual meeting OF
stockholders of the p. c.. c. & St. Louis James
McCrea. ". II. Barnes and Samuel S. Dennis we're
elected directors for four years The board OF di-
rectors will meet at Philadelphia at an early date
for organization.
COFFEE EXCHANGE SEAT PRIC,ES-The
latest price for Coffee Exchange seat Is s. 500
The last preceding sale 1915. The high
record price was 5000 made In February. 1904
GOOD FRIDAY CLOSING.--The Produce Ex-
change will be closed Good Friday.