New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-25
WALL STREET AND EXCHANGES.


FOREIGN TRADING.-Foreign houses sold 50 600
shares in the local market In London cousols were
hrmer after a rather heavy opening. Russian bonds
were heavy and lower. The fortuightiy settlement
IN London is proceeding satisfactorily Money is
inclined TO ease of. except for special demands,
and II may be presumed that the requirements Tor
the settlement have been arranged The feature
Of the foreign news IS the stress laid upon Amer
lean Indebtedness 10 Europe by the presiding officers
al the annual meetings of the banks. This seems
TO indicate gold exports carly this spring.
MARKET GOSSIP.-Charles q. Gates * Co. were
among the early buyers Of Union Pacific and seem
10 be leading the buying movement among Western
houses These have been rather heavy sellers since
the beginning of the week, bat apparently get
ting around 10 the bull side again. The real Nor
gan brokers. who are not frequently quoted in that
connection. are telling their friends 10 buy Southern
Railway Houses with political connections have
been buying Consolidated Gas and say that insur-
legislation at Albany viii be made an excuse
for letting the price of gas alone The same houses
are also buying Brooklyn Rapid Transit Floor
traders say that a house usually associated with
Standard Oil operations sold 5000 shares Of Union
Pacific on Tuesday and attracted some following on
the bear side. They believe that the house bought
for its customers. and that its selling orders
came from Jacob Field HaIJgsTten & CO. were the
principal buyers of Brooklyn Rapid Transit at the
opening. The selling was scattering. It is said
that the Colorado Fuel movement is not all ma
nipuIatiou. but has definite relationship to tho
strength in the Denver issues Halle & StiegIitz
were the largest individual buyers Of Union Pacific
and are estimated 10 have taken upward Of 5000
shares. c.. B. Macdonald was a seller early, but
turned around and bought 1000 shares. Traders
who had followed his early selling covered shorts.
IN the course of the forenoon 1t looked il there
had been some profit taking by the minor commits
sion houses, while the active wire houses, doing a
large business normally, had probably greatly in
creased their buying. J.. Levy & Co. were substau-
tial buyers Of stocks around the room during the
forenoon. They pad special attention to Central
Leather. one Of the most striking developments Of
the day was the heavy trading in bonds. Spencer
Trask & Co. bought $1,000 Pennsylvania SIS,
$4,000 japanese 4las and $4,000 Central Leather
Is. This was taken as straightforward investment
buying and tended TO have a good sympathetic
effect The Gates following We're probably the
largest individual buyers of stocks taking back all
their sales of the early part the week and prob
ably adding substantially 10 their line
BALTIMORE AND OHIO DIVIDENDS
dividend meeting Of the Baltimore and Ohio direo-
tors will take place before the end Of the current
month, but the date has not yet been definitely
set nor IS il determined whether the meeting will
take place in New York or elsewhere. No. change
from the regular semi-annuaI declarations OF per
cent on the preferred and 2;s per on the com
mon IS expected.
MOVEMENT OF GOLD-The local Sub-Trsas-
ury paid to the banks yesterday $4,000 against
deposit OF new gold to san Francisco Barring. Ma
goun q Co. withdrew from the Sub-Treasury In
exchange for certificates $4,000 gold coin for
nouncement.
REPUBLIC IRON AND STEEL-Ths Republic
Iron and Steel Company has not agreed on any plan
for the payment OF back dividends the preferred
stock. According 10 an interest OF the company.
until some plan is adopted the directors will con-
tinue their policy OF declaring the regular preferred
dividend Of Il. per cent and something deferred
dividends at each quarterly meeting.
VULCAN DEFINING EARNINGS.-The earn
ings OF the Vulcan DEFINING Company from April
!, 'l905 10 January /. 1906. show a net gain Of
$4,000, OF which dividend OF "a psr cent
was declared and paid on January 20. As the
amount OF preferred stock outstanding Is only
1900 shares this leaves a surplus amounting 70
about $4,000. The earnings Of the company would
have been larger had II not applied a large part Of
them 10 erecting new plants which Will increase
its capacity materially.
HIGH PRICE FOR UNION PACIFIC.-Union
Pacinc stock made new high record 16Oh and
according 10 high officer OF the company, tho
price Of the issue VIII advance 200 before March
l. The directors will meet In the course Of the
0Azt ~ Essas 70 tAks GstsOn ca The dsv1ASnA AOA