New-York tribune., 1901-04-19
WALL STREET AND EXCHANGES.


orally lower and arhtrage brokers were heavy
sellers in the local market Total dealings amount
ed above 70c0o shares the greater part of which
consisted of the leading international favortes. in
cluding large amount of Union Pacific.
CHARACTER OF TRADING Chicago houses
were the heaviest buyers in the early trading pur-
chases of 5000 shares of Atchson and $1,000 of
Union Pacific being noted for Chicago account in
the first hour. The advance in Kansas and Texas
preferred explained by any known devel-
opment affecting the company. 1t reported
that the stock would be placed upon per cent
basis IN July. J. s Bache q Co.. Douglass & Jones
and Z. A Fairchid were active buyers OF the COM
mon and preferred. Bell & Co, Rolston * HOoley,
II. B. Holiius & Co. and Howard Lapsley & Co.
heavy buyers of Atchison. and it reported
in the board that the holdings OF E J. Berwind
were for the account of Pennsylvania Railroad in
terests. Selling Of Amalgamated Copper followed
reports that the proposed copper deal would not
90 through, Talbot j. Taylor & Co were active
buyers OF the Steel shares. Canada Southern ad-
yaHced over points on Investment buying. The
Go~id shares we're again taken on further talk OF
Railway shares were in demand from interests well
informed regarding the property.
EXPRESS COMPANY SHARES.-Buying of local
express company shares due to the report of
an alliance between the American. Adams United
ident Of the Adams COMPANY and James c Fargo
president OF the American Express Company, have
Company United States Express stock advanced
So points and American EXPRESS IL. Officers OF the
various companies denied the reports Of consoida-
SOUTHERN PACIFIC.-Excellent buying Of
Southern Pacihc stock has been reported in the last
few days and predictions made that the price
VIII reach 70 inside of six months The earnings
o. the company heavier a mile than those of
any other transcontnental railroad The condition
OF the property however, requires such heavy ex-
penditures that The probability Of dividend this
the control Of the Union Paciac and ii is the in
tcnticu Of the last named road To make Southern
Paclhc'S PHYSICAL condition equal TO that OF the
NEW-YORK AIR BRAKE.-New- York Air Brake
stock advanced points comparatively light
dealings. The president Of the company stated
that there were no new developments that could
be held responsible for the upward movement and
that the advance was entirely due to buying by
people who appreciated the value of the stock
investment.
STOCK LOAN QUorATIoNs-Loa quotations
Atchson common, Northern Pacific COM
mon. Western Union. per cent; Atchison pre-
ferred, Louisville and Nashville, Baltimore and
Ohio common and Smelling common. $@qi; Chi
go. Burlington ana Quincy, General Electric,
Missouri Pacing Manhattan end Delaware and
northwestern Northern Pacific preferred. Reading
lst preferred. ST. Pa'h, Sugar Refining. Union Pa
common. Continental Tobacco common, Southern
Pacific United States Leather pttieTTred' sro2syn
Railway preferred. Arlalgamated Copper, Federal
and United States Steel common /; Rock Island
and Smelling preferred ?: United States Steel
AMERICAN LINsEED POSITION-Guy Y.
Major, president Of the American Iinseed Com
papy denies emphatically the reports that ar
rangements contemplated which will involve
reorganization of the companies capitalization, ana
in addition mercer with other companies. ~, Nj
Chicago. and are absolutely without foundation.
There is no such plan in contempa ton 80 far as
ing the stock goes. that also is untrue. The stock
records do not show that there is single officer
in the American Linseed Company.
DEMAND FOR FORT WORTH AND DENVER
CITY.-A demand has developed for Fort Worth and
Denver City stamped stock Control of the prop
iS hell nv Colorado Southern through the
ownership of unstamped stock. There is only s.
800 900 Of the stamped stock and it was issued for
Tirtuav preferred stock and is entitled to per
cent dividends before anything is paid on the other
resumption of dividends it will not be long de
layed.
ELECTED MEMBERS.-New members elected
in the Stock Exchange Edgar y. Hellman of
Seligsberg & Co. No. 40 Broadway; Oliver S.
f. b Smith & Co., No. So Cedarst
GENERAL LECTRIC.-Ceneral Electric direc-
tors have voted that upon the written request of
any holder of preferred stock the preferred stock
shall be received in exchange fortcommon. and
certificates for common shall pe issued therefor.
share for share, upon surrender and cancellation of
the certificates for the preferred received upon
such exchange. The time for making such ex-
change has been limited 10 the period between
Nav 15 and August /.
ERIE ELECTRIC MOTOR BONDSZThompson
Tenney & Crawford bankers. own and offer for
sale. recommending the bonds as a choice invest
ment security $4,000 first refunding mortgaee )
per cent sinking fund gold bonds issued by the
Erie Electric Motor Company. owning and operating
all of the street railway companies the city OF
Erie, Penn. The announcement includes the state
for the year 1900 slso307 while those for 1901
are estimated TO be 100000 Tne net income for
the period for 1900 S2 go and is estimated
for the present year at SS5,0o0 sinking fund pro-
vides for the redemption of these bonds by an
annual payment of per cent from April l. 1906.
to 1915. inclusive. and 11a per from April l.
1916. 1871 Descriptive circulars will be furnished
application to the bankers.
WINTHROP BURR Observation-Disclosures
Burr has been nominated for membership on the
governing committee Of the New-York Stock Ex-
change in place of George w. Ely. who recently
sold bis seat on the Exchange and resigned from
the committee.
RIVERS. AND SELLERS