New-York tribune., 1906-10-30
WALL. STREET AND EXCHANGES.


ec+,ve factors in the local market. buying upward
of 10000 shares. In London the general market was
firm Continental bourses were duh and heavy.
Discounts were steady in the foreign capitals The
Bank of England secured the South African Goid
which became available yesterday, to the amount
OF S5O00,GGO.
ADVANCE IN BAR SILVER.-Bar silver was
quoted in London yesterday at 50 9-l6d. an ounce
This is the highest price since 1893 This advance
In price of silver from 81 1116d IN 1902 to 81 sIoo
an ounce is attracting attention, not only among
mining men, but among investors. 1t is natural
advance in view of the present scarcity In the
worlds supply of silver and the increasing demand
for the metal While it is true that some countries
besides the United States. notably Mexico, have
adopted the gold basis, nevertheless there is great
increase in the use of silver in Manchuria, india,
China and the East. which is certain to continue
The of silver in the arts has also increased 10
such an extent to deplete the supply. France
and other European countries have been heavy
purchasers of silver for coinage. and at last the
United States government has entered the market
a buyer for use in subsidiary coinage
MARKET GOSSIP.-One reason for the dulness
is that the principal commission houses have told
their customers that. whether they are long or
short of stocks, they must keep up margins over
the election. On some stocks. like United States
Steel common Southern Railway and relatively
low priced issues. a modest margin has been
cepted, but this is 70 be strengthened. The word
wait till after the election has been passed
round by most of the conservative houses. They
do think the betting odds excessive but
the possibility of scare is always present. and
good deal of business is certainly being kept OF
the street by the commission houses themselves.
MOVEMENT OF MONEY-The banks on Satur-
day lost sS42 OeO and since Friday lost 1854 900.
compared with loss in the same time IN the pre-
ceding week of $4,000. The local SubTreasury had
q credit at the Clearing House yesterday of $780,
415. Pension payments at the lowest ratio
of the month, while customs collections are large
The Sub-Treasury here will disburse about 81 OO0-
000 on November 1, representing interest on the
public debt. Applications for circulation un-
der the recent Treasury order amount TO more
than $4,000 900.
roads to obtain delivery OF new cars rapidly enough
is the factor now causing much anxiety in the
railroad world. An officer Of the Atchison Rail-
way says that his company is not receiving within
% per cent of the number of cars IL should have
at this time Car builders of the country are
rushed simply beyond all question and railroads
must take what they get and be satisfied.
Meanwhile traffic is increasing all the time
PIG IRON CERTIFICATES-Pg iron certif-
Gates at the New York Produce Exchange opened
unchanged for regular grade and a shade easier for
standard foundry. There was sale of 100 tons Of
November standard foundry at s21 10. First quo
tations for regular were: Cash. October. November
and December, SIS 70 bid Prices for new stand
ard foundry started as follows: January, $22GS23;
February, s22Q$23; March, S22QS2S 90.
PORTLAND THE CURB FEATURE.-The stock
Of the Portland Copper Mining Company was dealt
in on the curb yesterday for the first time and be-
tween 10000 and 10000 shares changed hands The
companys mines yield from 31a to SO per cent cop
per and So to s. gold ton. The mines are stu-
ated in the Battle Creek district of Wyoming
THE HILL SHARES.-There was a revival of
the old story of special distribution on the Hill
stocks which received a little countenance from
the early advance in Great Northern preferred. 1t
is of those stories which is fairly safe to be
true some day of any Hin stock. and is therefore
a perennial bull argument.
PENNSYLVANIA.-Trader argued that the
ticker was saying that The PENNSYLVANIA dividend
would be placed a per cent basis on Thursday
The best information seems to be that way and
the buying looks fairly good.
DIRECTOR OF MINT PURCHASES SILVER
The Director of the Mint yesterday purchased
100000 ounces of silver at 7OS77 cents ounce for
the mint at New Orleans.
BANK OF ENGLAND GETS GOLD-The Bank
of England secured practically all of the OOO coo
gold which arrived Saturday from South Africa
REDUCTION IN SUGAR.-The Federal Sugar
Refining Company has reduced It's list prices of
sugar 10 points to 460 cents. less l per cent for
granulated.