New-York tribune., 1902-07-09
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses sold 1900
shares in the local market In the London market
American stocks were inactive and generally
heavy. with declines of Il to q per cent in most of
the active issues. There further scattering
realizing in the Kafir stocks, but not in any vol
Consols were conspicuously firm at 963s. an
advance of a per cent Continental bourses were
featureless.
STOCK LOAN QUOTATIONS.-Loan quotations
We're: Amalgamated Copper, Anaconda, American
Ice Atchison common and preferred, Brooklyn Rap
Id Transit, Baltimore and Ohio common, Chicago
Terminal. Canadian Pacific Delaware and Hudson,
Erie common, Erie first and second preferred,
Louisville and Nashville. Manhattan, Missouri Pa
cifc, New-YOrk Central Northwestern, Peoples
Gas. Reading first preferred, St Paul, Southern
Railway preferred. Southern Pacific Sugar Ten
nessee Coal and Iron, Union Pacific common
Union Pacific preferred. United States Steel com
mon. United States Steel preferred United States
Leather preferred, Wabash preferred. Western
Union, Republic Iron and Steel common and pre-
ferred and Rock Island 4d4l2.
IMMENSE PRODUCTION OF IRON.-"The
Iron Age gives the total production Of pig iron
by our furnaces for the first five months Of the
current year as 7,2S9000 gross tons. 1t also esu-
mates the output of June 100000 tons, or $751;
600 tons for the half year. Compared with the
production for the half year of 1901 this indicates
a gain of 100000 tons. Furnace stocks of iron
reduced I55.OOO tons the first five months OF
the year. AS exports Of iron and steel are de-
creasing while imports showing a material
gain, there is every indication that unless re-
action the increase in consumption of iron
in this country IN 1902 Will equal the remarkable
increase OF 1901, which was 100000 tons larger
than in 1900 Foreign advices show that the iron
furnaces OF Germany. England and Belgium. the
largest of the European iron producers, are again
increasing their output OF iron. generally. how
ever as a result OF orders from this country.
INTERNATIONAL PAPER COMPANY-The
fiscal year OF the international Paper Company
closed on June 80 and 1t is estimated that the re-
suit Of the years operations will be net earnings
OF about 81 500 900. per cent on the 81. 2.iO67O
preferred stock. and pa per cent on the $I742.8O
common stock. 7 his will compare with net earn
ings OF s3.Gj4 $50 for the year ended June 30,
l91. or per cent the preferred and 10 per
cent on the common stock. This falling of In net
earnings has been due largely 10 the increased
of manufacture without any increase in prices
obtained for the finished product. There has also
been a reduced output, forced by the labor unions
through a suspension OF Sunday work. The COM
panys output was reduced from about 100 tons
day TO 1900 but the efficiency OF the mills has
been Increased to permit Of output now OF about
200 tons day. including Sunday work
ROCK ISLAND AND WABASH COMPANIES
President Ramsey, of the Wabash Railroad Com
pany. confirms the report that conference Is TO be
held in this city between the Gould and Rock ISL
and interests with respect to the Rock Island
Railroad becoming a member Of the St. Louis Ter
minal Association. The meeting will be held to-
morrow and President Ramsey says he under
stands that 1t is for the purpose of arranging Var-
Gus details, the admission Of the Rock Island
having already been agreed upon.
NO SUIT AGAINST STEEL COMMON DINI
DENDS.-With regard TO the rumors emanating
from Boston that a suit threatened with the
view to restrain the payment Of dividends on
United States Steel common stock, II may be said
that nothing IS known OF such movement among
the principal interests which have taken legal
action prevent. If possible the carrying out Of
the company's preferred stock conversion plan 1t
is believed in the best informed circles that the
~ nors are entirely stock jobbing in character.
WESTERN AIARYLAND.-.W 5. Pierce, OF New
York has been elected president OF the Western
MARYLAND; j.. s. Landstreet. OF West Virginia,
vice-president and acting general manager; George
J. Gould and John w. Gates have been elected di-
rectors. The Western Maryland will give the Gould
system a tdewater outlet.