New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-12-13
WALL STREET AND EXCHANGES.

FOREIGN TRADINC.-ForeiSn houses dealt IN
5000 shares IN the local market. buying on bal
ance. There seemed to be a good supply of selling
orders from New-York in the London market
through the arbitrage houses The local London
markets generally heavy. and consols were
Il easier at 921a. There was change IN the quo
tations for money exchange in any OF the
European centres. Bar silver showed rather
frrner tone II was thought that the account
opened in Americans was very small. but a mod
crate local interest in London made a fair market
for New-York sales.
STOCK LOAN QUoTATIoNs.-Loa quotations
were: Amagamated Copper Anaconda. American
Ice Atchison common and preferred. Brooklyn
Rapid Transit Baltimore and Ohio common. Chi
cago Terminal. Colorado Fuel and iron. Delaware
and Hudson. Erie common first and second pre-
ferred: Louisville and Nashville. Manhattan. Mis-
souri, Pacific. New-York Central Northwestern.
Norfolk and Western common. Peoples Gas. Read
Ing first preferred Republic Steel common and
preferred. Rock Island st. Paul. Southern Railway
preferred. southern Pacific Sugar. Tennessee Coal
and Iron Union Pacific and preferred.
United States Steel and preferred United
States Leather preferred. Wabash preferred, West
ern Union per cent.
MOVEMENT OF MONEY.-"The Wall Street
News Bureau said yesterday The money move
rnents have been mixed this week than for
some time and the indications are that while not
fully rejecting them the bank statement to-rnor-
row will be less unfavorable than expected. That
is 10 say local gains in cash and receipts of money
from the interior likely to modify considerably
the effect Of the Sub-Treasury INSCRIPTIONS The
banks gained from the interior g 22 200 but lost to
the Treasury s5.72o0co. apparent net loss in
cash by the banks of So 495S00 II should be borne
IN mind that these figures cover operations only
m 10 the close of business on Thursday there Is
one more day In the bank statement, and they
do not include the local movements of money. Too
frequently the financial community at large bases
its figuring upon the bank statement solely on the
known movements of money This leaves
certain the movement of cash between local banks
and trust companies
AMERICAN GRASS TwINE.-rhe directors Of
the American Grass Irvine Company have rescinded
their action of December s. declaring quarterly
dividend for last quarter of the Of IA per
cent and instead have made the dividend one-quar-
ter of / per cent. making total for the year of
per cent This action taken because the d.
rectors decided that the growth OF the companys
business justified larger working capital: also be-
cause majority Of directors urged that the divi
5end be reduced owing the condition of the
money market The company is doing large and
profitable business. and the action of the directors
in not paving out large dividend at present is
commended in conservative circles Orders being
received by the company are now double what they
were year ago. and the increase in business has
naturally made necessary increased working capt
tai leading director in the company decided that
II would be better to earnings for working
capitaI and create large surplus rather than Dor
row money. and his influence prevailed at the di-
reCtors' meeting
SOUTH ERN PAC1F1C--The extent to which
Southern Pacific is spending money on its property
is illustrated by the October statement which
shows that s173747 Is spent for additions and bet
terments while the surplus after fixed charges is
hut 81 $50 f2s The charges for betterments for four
months of the fiscal year amount to $685.
07s while the surplus applicable to such expendi-
aures is but s5.454 1902. resulting in deficit of 81
533 ia.
PENNSYLVANIA WABASH.-Vice- President Nc
Crea OF the Pennsylvania. referring to the contro-
versy between his company and the Wabash
gardne right of way in Pittsburg says: THE Penn
sylvana Railroad is not trying to block the plans
of the Wabash The contention between the two
companies is regarding the amount OF elevation OF
the Wabash tracks where they propose to
the PENNSYLVANIA overhead Mr.. McCrea argues
that the Wabash amend it's elevation and
grade plans sufficiently to make the crossing and
give the Pennsylvania sufficient clearance without
creating a grade which will in any way interfere
with traffic.
ORDERS FOR NEW EQU1PMENT.-The Ameri-
can Car and Foundry Company has received an
order from the ST. Louis and San Francisco for
600 box cars and coo gondola also an order
from the BeIngton and Beaver Creek road for 300
freight cars and miscellaneous orders amounting
to
PENNSYLVANIA BONDS PLACED ABROAD.
1t is stated that, of the 100000 trust notes
lust issued by the Pennsylvania Railroad the bulk
has been placed in London and the Continent.
The exchange on this operation will become avail
able at once in the local money market.
GRAIN EXPORTS l FOR THE H WEEK x BRAD Brad
Tor the week. with compa risons. as follows:
4 this week last Since july
4s6 against 1896 3a in the corresponding time in
week Year ago: since July l. 5i6osS contrasted
with 49, 1874 1858 in the corresponding time last year
AMERICAN he Amsrtean Lo-
dsrs; New-York. New-Haven and Hartford. Is: