New-York tribune., 1906-11-28
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
2500o shares in the local market all purchases In
London the general market steady. There
was strong demand for loans in the British
capital the end of the month, and discounts
firm, being influenced by the impending with
drawals of gold for the account of Brazil II is
estimated that upward of 5000 600 will be shipped
for this account before the end Of the year. The
fortnghtly settlement disclosed rather extended
speculative position in American stocks the
bull side and the contanso strengthened to 81.
the close
WESTERN UNION BONDS-The 4 per cent
convertible redeanable bonds OF the Western
Union Telegraph Company authorized last week.
Will be given 10 the stockholders at the rate OF
10 per cent of their holdings These bonds will be
convertible at the option Of the holder of the stock
of the company at par any time after January 2,
1909. and Will be redeemable at the option OF the
company at per cent premium and accrued in
terest May l. 1872 any interest day there
after. The price fixed by the board of directors
for bonds IS sS75 bond of 81 900 face value
Bonds will be issued only in amounts of s. 900 and
multiples thereof Kuhn Loeb & Co have formed
q syndicate to take bonds not purchased by the
shareholders.
AMALGAMATED'S UNPRECEDENTED PROF
ITS.-The further advance OF &c pound IN copper
metal Monday 's in line with the predictions OF
people in the trade that the advance would go to
at least 2ic a pound Sales OF spot lake
being made at 23c. These prices causing a lot
Of computations TO what the Arnalgamated Cop
per Company is likely to earn. 1t Is asserted that
it's production will rise TO q basis of 300 600 GOO
pounds year IN the near future. At pc pound
the company has profit Of about 12c pound
clear. On such produstion and at current prices.
with It's income from lumber. custom smelling.
etc. II is figured that Arnalgarnated can earn rs
per cent. Its profits at the present time are un-
doubtedly a scale wholly unprecedented
HIGH IRON PRICES-The Tennessee Coal and
Iron Company has sold 5000 tons Of No. foundry
iron, Birmingham. at SIS so ton. The iron is for
delivery IN the second quarter Of next year This
IS probably a high record price for No. foun-
dry for future delivery. The demand for foundry
iron continues brisk. Notwithstanding the high
prices that prevail. There are number OF con-
sunlers who have not covered their future require
n1ents. and fastening do so
CARNEGIE TRUST COMPANY.-The following
is the list Of the officers OF the Carnegie Trust
Company. the completion of the organization OF
which is announced: Charles c. Dickinson. presl-
dent; Frank l. Grant. vice-presdent; J. Ross Cur
ran, vice-president and treasurer: Lawrence 4.
Ramage. trust officer; Fred II. Parker. secretary.
The directors George Arents, Robert B Arm
strong H. Carroll Brown, j. Ross Curran. A. B.
Chandler. Charles c. Dickinson, Frederick H.
Eaton. NJ. B. Fuller. Frank I. Grant. Francis Ham
ilton, Arthur P. Heinze, J. ". Hartman. William
A Keener, J. d. Laying. Alton B. Parker. J. G.
Robin, Colonel Jacob Rupert. Jr. Charles VI
schwab Samuel Spencer. Henry l. sprsgue Ed
gar Van Etten and Horace G. Young
DIVIDENDS DECLARED-Directors OF the
American Sugar Refining Company havs declared
the regular dividend Of 1& per cent the pre-
ferred stock. and the regular dividend OF 1s. per
cent the common stock Directors OF the Cen
trail Leather Company have declared tho regular
quarterly dividend OF 1& per cent the preferred
stock Directors OF the United States Leather Com
pany have declared the regular quarterly dividend
OF IL per cent on the preferred stock. Directors
OF Chicago Eastern Illinois have declared the reg
ular quarterly dividend of Ia per cent the pre-
ferred stock, payable January . Directors OF the
st. Louis & San Francisco Railroad Company have
declared the regular quarterly dividend OF I per
cent on the first preferred stock. payable jan
uarY 2.
ORE CERTIFICATES AS COLI.ATERAIA-An
officer of the Chase National Bank said yesterday
that that Institution would regard Great Northern
Railroad certificates ex-rights with certificates
attached as equivalent to tbs Great North
ern Railroad certificates and would accept them
as collateral. Strength IN the certificates on the
curb due to this.
NORTH AMERICAN COMPANY.-The executive
officers OF the North American Company have Just
returned from trip OF inspection which embraced
the properties OF ell OF the subsidiary companies
Distinct gains IN income have been made by the
different subsidiary companies without exception
and plants IN stin better physical condition
Operations conducted with an Increasing degree
OF efficiency.
PIG IRON CERTIFTCATEs.-Pig iron certificates
at the New York Produce Exchange We're dull and
practically unchanged. There were no sales
Prices for regular follow: Cash and November and
December SO bid Quotations for new standard
foundry follows January, 81 90 bid: February
s21 50Gps22 so bid: March, S23 asked.
EXCHANGE MEMBERS COTTON CROP ESTI-
MATE.-Ths annual estimate OF the cotton crop
of the members OF the New York Cotton Exchange
mate is 100000 baieH and the iov.st u ssNOso
bales @ The average prediction OF 1s1 members is