New-York tribune., 1906-06-10

FOREIGN TEADINCf.-FOreign houses were noe
active In the local market. selling few thousand
shares on balance. In London consols were heavy
while the general market duh and feature
less. The Kaflr issues were weak Discounts
hrmer and Paris exchange on London was
heavy.
macher Gs-CO. say:
Our foreign exchange market similar TO pair
Of scales evenly balanced remained practically sta
ished supply Of coTnnercai bills and the little more
Spirited inquiry IOF reInlL LIanceS or tne week as
mand sterling advanced to 4S6 very quickly. II did
6eIc 6oS Ee am nufh @ business a 20 dSTeop & an s
helped along by peculators-brokers who usually
all in the same direction but change their posi-
T6ers Sa on 1 one Hr 9ff # factor % d Wor{5 for bbsr
level and that IS the time of year IL would be, in
deed very unusual to experience low market for
exchange during july especially SO since the T39Is
the insurance companies abroad viii probably
mence drawing more H9eIelIy ouluS IIal month 20
meet the losses in the San Francisco re and theTs
the month ot July notwithstSndng this IS the only
month this year in which we are likely 70 see
crops IN sight and the practical certainty or ceTer
ises to be very low-not only for few days. but
Throughout the entire season r. therefore, IN ne
course Of the next few weeks there should develop
any demand on the part of bankers for coverings
81 friaGs l,StS +Frobr ne SoTfh ~ re{s % Iyt. -
fairly good rates and contract for all their prospec-
for 16e far deIiveries It seems The general opiio1
that when the time comes rates viii be naturally
lower than those at which shippers are now willing
TO sell for future delivery. and our bankers ara.
therefore very much inclined 10 await further do
velopnents
STOCK EXCHANGE RULING.-The Stock Ex-
change COMMITTEES on securities rules: That all
transactions IN the common and preferred stocks oe
the Twin City Rapid Transit Company made on
Monday June IL 1896. except for cash, shall be
rights Certificates delivered after June Il, 1895, for
all contracts made prior thereto or for unsettled
cash transactions OF June II must be accompanied
by assignment OF rights due bill for the
same Sales OF rights made on and after June Il.
except transactions made specifically for cash.
must be settled Friday. June % 1895. which
day all due bills must be redeemed Transactions IN
rights and after June % must be for cash or
regular way. Tho right 10 subscribe terminates on
Friday. July s. 1906.
MERCHANTS TRUST DEPOSITORS-Th de-
positOrs OF the Merchants Trust Company viii
have TO wait little longer for their interest. some
OF the stockholders having appealed from the
courts decision that the depositors entitled TO
interest The amount involved is not large one.
the receivers having paid all the deposits in three
instalments last August. September and October.
and OF course interest stopped when the final IN
stalrnent was paid. The receivers. the New York
Trust Company and Douglas Robinson. are disap-
pointed at the appeal being taken. because ths
liquidation has been unusually rapid and efforts
nave been spared TO restore to the depOsitOrs and
other creditors the amounts due them.
IRON SITCATION.-ROgers Brown & CO. says
The feeling in all pig iron circles is distinctly bet
NOUS they are fully up to the rate Of produc tOn.
and the demand for spot iron IN several 80 sets
continues active. Bessemer ana Daslc * et.z -
deliveries are scarce and prices on sals - t1ur
lng the last week showed distinct ',~5s<y to
auNihCe sales or finished material last
half Of the year insure a steady demand FOR steel
making irons and heavy tonnages must be booked
before long"
COTTON OBSERVATION-DISCLOSURES to The FL
nancial Chronicle the total recepts OF cotton for
\ ~ hall
against 7l,7S6 bales in the preceding week The total
receipts since September have been Ass 80 bales
against slS'9O bales for the period last year.
a decrease OF 17et5S0 bales. The weather has been
so favorable that it has acted as a detrment on
long buying. On the other hand. there is a popular
impression that the short interest is large and
that on any turn in the news for the a sharp
advance might occur.
BANK CLEARINGS-To bank clearinss for
the week ended June at all cities were s2754I5l-
bS7. comparing with S242tSl0z7S in the correspond
ing week OF 1895. an Increase OF 1876 Per cent Clear
inss for the five months ended with May 1905
SSISSe2c.ISO comparing With $50. O79 in 1905
an increase OF 12T per cent.
RAILROAD GROSS EARNINGS gross
earnings OF thirty-nine roads fer the fourth week
of May aggregate S3,6S20n. compared with $4,000
43S in the period a year ago. an Increase OF
14l per cent. For the month OF Nav the gross
earnings OF hfty-two roads totaed Si t 22 agafnsc
SIS920i in the same month of 1905. an increase "a
81 1lS599S. or FAB per cent.
PIG IRON CERTIFICATES iron cart,e
Gates at tho New York Produce Exchange wer.
barely steady and without transactions CIosinss
prices for regular follow; Cash. SIG 10 bid; June~
N6GS7 July, SIG l0a$17. October SO asked TrTDsI
quotations for standard foundry follow: June ana
July. A1 bid; October. $40 75e2S17 5A
LARGE SALE OF BEsSENIER.-It Is eurrentrr
reported in local iron and steel circles thar ~.
Cn'eu states steel Corporation. Pennsylvania
Steel company and Cambria Steel Company nave
closed contracts for 100000 tons OF Bessemer IRON
In the aggregate for delivery in the last hall es