New-York tribune., 1902-01-05
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses not
active in the local market, dealing in about 5000
shares mostly purchases There a good de-
mand for United States Steel issues. Arbitrage
firms reported bush sentiment in London
CHARACTER OF TRADING.-Strength in the
car building shares and American Locomotive is
sues was a feature. American Car and Foundry
preferred and Pressed Steel Car preferred were in
investment demand. Heaviness in St. Paul. Union
Pacific and Southern Pacific due to realizing.
Amaigamated strong on the dissolution Of the
Injunction against the Boston and Montana dvi-
dend "B. r. T, after early frmness, sold down
on profit sales. Reading and Erie both declined
The Steel stocks were firm on heavy trading. total
dealings being about one-quarter of the transac-
tions in all shares. London an active buyer of
these stocks.
AMERICAN ACKNOWLEDGEMENTS Locomo-
tive issues showed considerable strength what
was regarded as inside buying In regard to the
company's business. it is stated on authority that
sufficient orders have been booked ahead to keep
all the plants OF the company running 10 their full
capacity until February l, 1903, and the volume Of
business the books aggregates about s2S,o0Oo0.
The company is earning per cent both
common and preferred stock but 1t apparently is
not the intention Of the management to begin pay
ment OF dividends the common stock until the
first years business has been completed.
HEAVY ORDERS FOR CARS.-For the calendar
year Of 1901 the American Car and Foundry Com
pany built in it's various departments approx
matcly g. 600 cars Of which about 500 passen-
cars. II Is OfnClallN stated tnat orders placed
for cars by the railroads in the last quarter OF
1901 fully 20 per larger than any preced-
ing similar quarter.
INTERNATIONAL PAPER.-QuIet Investment
buying Is reported in International Paper pre-
ferrcd. The company's earnings continue to show
satisfactory results. with large surplus income
above preferred stock dividends. II Is the In
tention, however of the management pay divi-
deuds on the common shares for some time to
come, as the various plants of the company are
T.Fv s.T Fr1.sg lF.e
frud is being accumulated, The company is In
able hands.
DIVIDEND DECIARED.-The Commonwealth
Insurance Company has declared dividend of per
cent its capital stock. payable January :. 1t
has also declared interest of per cent the
standing scrip
SUGAR REFINING.-Willett 4. Gray say that
all Of the rehEers benefited I'm the year 1901
TO the extent of i cent pound profit than
the small margin of uroht in 1900 and there is no
to expect that this ratio of profit will be
any less in 1902. The low price of raw sugars at
the present time and the future outlook give prom
sugar
SOUTHERN NEUTRALITY-SUSPICIOUS. has been
made, 10 the stock Exchange to list 10000 add-
mortgage per cent bonds of 1851.
BANK CLEARINGS.-Th total bank cIearinss
Of all the clearing houses of the United States for
the week led January $2.SS5SlS S69 against
S2.S $500 the corresponding week last year.
AMENDMENTS EFFECTIVE.-The amendments
to the constitution of the Stock Exchange increas-
ing the initiation fee from SCO0 $2O,1 and the
annual dues from $50 TO $lO0 became operative yes
terday. These fees exclusive Of fines and
Gratuity Fund assessments.
NEW MEMBERS COTTON EXCHANGE
Thomas F. Russell and Robert f. Amin have been
elected members of the New-York Cotton Ex-
change
COFFEE EXCHANGE NOMINATIONS.-The
Board of Managers of the Coffee Exchange has
submitted the following nominations be voted on
at the annual meeting January President
Percy II. OSullivan; viCe-presdent, Henry Hentz
treasurer. James II. Kirby managers for two years
james y. Jarvie. James II. Taylor Louis SeIips-
berg, Henry Schaffer Edwin II. Peck and Frank
Norton
HOWARD ABEL'S OFFICE.-Howard Abel
formerly president of the Lake Street Elevated
Railroad Company. of Chicago. and associated with
Charles T; Ierkes in his London underground rail
ways. will not be connected with the Boston Fle-
waited Railway, as has been reported but has re-
moved to Boston to become president of the New
Hampshire Traction Company
WESTERN ANTHRACITE COAL AND COKE
COMPANY.-At n recent meeting of the Board of
Directors OF the Western Anthracite Coal and Coke
Company the following we're added 10 the director
ate of the company: w. r. PedriCk, w. c Terat
hoff and Charles c. TegethOff. William D. A Rose
elected secretary and w. G. Tegethoff treas
urcr Of the company.