New-York tribune., 1901-05-17
WHEAT.
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-London prices were high
err and arbitrage houses dealt in about 20 600 shares
United States Steal preferred, Baltimore and Ohio
| Southern Pacific and Erie were in good demand
Subsequent trading the selling side.
| STOCK LOAN QUOTATIONS.-Loan quotations
were: Atchiscn common 4; Northern Pacific pre-
| ferred. 2; Rock Island fiat: Atchson preferred
| Chicago, Burlington and Quincy, Peoples Gas
General Electric, Missouri Pacific, New-York Cen
tral, Northwestern Reading first preferred. st.
Paul. Sugar. Union Pacific common and preferred,
American Tobacco common. Continental Tobacco
common Southern Pacific. Manhattan, United
States Leather preferred, Brooklyn Rapid Transit,
Delaware and Hudson Tennessee Coal and Iron,
Western Union Southern Railway preferred. Louis
vile and Nashville. United States Steel common
and preferred and Amalgamated Copper. S.
INTERNATIONAL POWER.-The stock of the
International Power Company was again In de-
mand yesterday, and advanced sharply in price
The company is reported to be Overcrowded with
orders for both locomotives and stationary engines
International Power rose over points on report
that the stock of the company would go into the
locomotive combination at prices considerably
higher than those prevailing at present. The buying
credited to insiders. a-re-s-- r..
ST. LOUIS AND SAN FRANCISCO MEETING
At a special meeting of the trust certificate holders
OF the St Louis and San Francisco Railroad Com
pany. held yesterday. the plan for the consolidation
and refunding cf the cOmpany's bonded indebted
I ness ratified Considerably more than the re-
| quired amount of each class of stock repre-
4 pIPoSibANii
tested.
| MINNEAPOLIS AND ST. LOUIS DIVIDEND.-It
is said on good authority that the dividend
Minneapolis and St. Louis common stock will be
raised to a per cent basis at meeting of the di-
rectors to he held next month
TURNING IN BURLINGTON sTOCK.-Over one
half of the stock Of the Chicago, Burlington and
Quincy turned in for exchange by yesterday
noon. The balance in favor of taking all bonds,
instead of part cash, continues to be very heavy
\ made to-day hereafter
Chicago. Burlington and Quincy certificates
exc per cent
AMERICAN LINSEED.-Current buying of the
American Linseed securities is supposed to be for
interests that seek the control of the company.
Officers Of the company say that 1t is impossible
for them to trace the buying of their stock.
ELECTED 4 Observation-Disclosures L. schih.
Of the banking house of Kuhn. Loeb & Co, in
i which his father. Jacob FL Schiff. is the senior
partner has been elected a director of the Mercan
tile Trust Company
DIVIDEND DECLARED-The General Chemical
Company. of No. - Broad-st.. has declared quar-
tery dividend Of per cent. payable June l. The
common stock transfer books will be closed from
May 90 10 June 3
COMPRESSED AIR COMPANY-At a meeting
of the directors OF the Compressed Air Company
Of New-York yesterday Julius f. French, OF the
a French Spring Company elected director.
and Willis +. Grey. formerly general superintend-
eut Of the Chicago and Alton Railway Company,
was chosen second Weep president.
THE YOUNGEST BANK PRESIDENTIAL
meeting Of the board OF directors OF the Liberty
National Bank Henry p. Dawson was elected presi-
dent succeeding Henry G. Tinker resigned At
the request OF the board Mr. Tinker accepted
election a vice president. Frederick T. McGynn
was appointed assistant cashier. Mr.. Dawson is
the youngest bank president in the city being
only thrty-three years old. lie entered the employ
OF tho bank in 1891 assistant cashier. became
cashier In 1895 and active vlce-president in 1900
lie has since then been in virtual charge He is
also secretary Of the Clearing House Association.
! The bank was organized in 1S92. with capital of
100000 On May l. 1901. its deposits were SITS.
5S2 and it's undivided profits $3.50 162.
THE ALLIS-CHALMERS COMPANY-The
ganzatiou OF the AIlis-C Cha liners Company. of
the latest industrial combinations, attended
with circumstances which make it in par
ticulars unique N the business world. The com
paHy starts with a cash capital OF Sl0O0JGO0. Of
which sum $4,000 will be expended in the erec-
tion Of an additional plant to double the present
capacity Of the Alis works. The valuation Of the
several plants included IN the consolidation taking
into account tn" real estate. buildings. machinery.
+ tools. patterns. drawings and patents together
with the cost OF organizing and getting into full
operation. Is placed by Julian Kennedy. an expert
engneer who examined the properties. at S9,93500O
In ths estimate no allowance is made for good
viii The total present value of tangible property.
therefore is SO 95OO0 while the total OF pre-
ferred stock against this property is only $3.50
CO. All Of this stock. II is stated is issued for
cash al par. IN lieu OF cash. for the plants at
less than their valuation given herewith. OF
the total issue there will be than 81 per
in cash. and the balance viii be in property that
produces much more than the cumulative dividend
which the preferred stock is entitled. The COM
panles TAX N over by the Allis-Chalmers Company
include the following builders of heavy engines,
mining and other machinery: The Edward p AIlis
Company. OF Milwaukee. Wis; Fraser * Chalmers
nccrporated. OF Chicago. Ill: the Gates Iron
Works, of Chicago. H. and the Dickson Manu-
featuring Company. OF Scranton, Penn exclusive
of locomotive works.. The plants are all running
at their fullest capacity. The examining engineer
found that most of the tools in all of them were
comparatively new having been put in within the
last eight years. II is stated that the
Als. Fraser & Chalmers and Gates Iron Works
PLANTS have been operated night and day during
the last years. and have from lack OF capacity
declined in that period much business as they
have been able accept The cOmpany's ret
profits for the fiscal year to end May l. 1902. are
estimated as sufficient pay dividends at the
of per cent the authorized preferred stock
and about per cent on the common stock: IL
allowance is made for the economies expected from
consolidation; II Is estimated that the company In
this period should earn per cent on both classes
of stock. The increased business expected 10 fol-
low the completion of the additional AIls works.
course Of construction, Will, II Is estimated
the preferred stock and 10 per cent on the common
: stock. and also make a material addition to the
surplus account The authorized preferred stock is
$6,2J0tO, bearing per cent cumulative dlVidends.
and IL is convertible into common stock share for
share. at the option of the holder. any first day
of May until and including May 1921 IL also has
"A further preference OF per cent, non-cumuattVe,
stock. The authorized amount of common stock is
$4,000 coo. The board of directors is composed
lam a. Read, James Stillman and Cornelius Van.
dcrbiit, of New-fork; William l.. Eikins lr.. or
james H. Eckies and Max Fam of Chicago and
Charles Allis William w. Allis Frank q Bigelow