New-York tribune., 1902-01-15
WALL STREET AND EXCHANGES.

| WALL STREET AND EXCHANGES.
FOREIGN TRADING.-Foreign houses not
active in the local market dealing in only 1900
shares mostly purchases In the London market
contango rates for the settlement on American
issues ruled from to AZ per cent. The chief in
terest in the London market was centred on the
South African mining shares
SUGAR PRICES LOWERING American Sugar
Refining Company-B. H. Howell, Son & Co. and
Arbuckle Brothers-have reduced refined sugars TO
465 Arbuckle Brothers maintain their for
mer discount. The reductions include a cut OF five
points on No. to II and OF ten points all other
grades Some brokers say that they have received
increased number of orders at the lower prices,
they having had optional orders subject to decline
in prices In lower wall-st. II is thought that
the reduction OF ten points in the price of refined
sugar done purely as a measure to stimulate
activity in the trade. While Arbuckle Brothers
and B. H. Howell. Son & Co. reported to be
oversold for n week ten days. it is understood
that the American Sugar Company is carrying
considerable stock hand In order dispose OF
this the reduction in price made bringing re-
fined granulated sugar down to 4.65 cents a pound.
The other refners in order to secure share OF
the trade. naturally followed the reduction. The
fact that sugars have also declined several
points recently likewise entered factor in
causing the lower quotations for refined.
CHARACTER OF TRADING-The heaviest deal
ings were in AmaIgamated Copper. Atchison. St.
York Central. Pennsylvania, Reading. Southern Pa
cifc. Union Pacific and United States Steel shares.
New-York Central and the Nickel Plate shares
weak features; also Manhattan. Reading,
Erie, Sugar Refining Rock Island and Illinois Cen
trail Chicago sold about 5000 shares. Room trad
sold Sugar Refining. and also brokers who had
stop loss orders. All the Western stocks were sold
by Chicago spectators The Illness OF Mr.. Keene
used bear factor. and false rumors that
stocks were being sold for Mr. Keene's account
circulated. II also falsely reported that
the Erie would issue bonds. and that a big
drygoods house was in trouble.
ATCHISON DEBENTURES-The new debenture
bends OF the Atchison company not ahead OF
the adjustments. some people have supposed,
but between the adjustments and the pre-
ferred stock The new bonds. besides being secured
by the new equipment and other properties speci-
fed in the notice OF sale. also secured by
whatever equity remains in the whole Atchison
property after satisfaction OF other bonds down
and including the adjustments. over s27.cOOOoo OF
the bonds have already been sold by J. P. Morgan
q Co.
TWIN CITY RAPID TRANsIT-In the fiscal
year ended December 81 last Twin City Rapid
Trausit's earnings showed an average increase
1870 OF 1918 day. The new year has begun well.
the earnings for the first week showing a gain OF
s. .463 a day 1t is believed that in this year Twin
City Rapid Transit will earn more on its common
stock than the Manhattan Railway Company will
earn it's stock, and predictions made that
in the OF the year the first named stock
will sell high Manhattan. At the recent
ratio OF gain in revenues II is claimed that Twin
City will earn per cent on its stock
HANDBOOK OF SECURITIES.-'"The Handbook
OF Railroad Securities compiled by the publishers
OF The Financial Chronicle will be issued next
week. The book contains in small compass
amount OF information concerning the various rail-
roads and a number OF industrials whose securities
are dealt in on the leading stock exchanges 1t
shows their earnings, dividends. etc. for a series
of years their present fixed charges. and also the
ing. their rates Of interest, etc There is also
shown the monthly range of stocks and bonds for
1900 and 1901 and yearly range for the last four
years.
HAWAIIAN BONDS PAID.-The Sub-Treasury
paid over the counter about 1912 900 25 OSO be-
ing part of 10000 of Hawaiian bonds held In
London payment of which assumed by the
United States at the time of the annexation of the
islands The rest of the debt paid nearly
year ago, but these bonds were not due until jan
uary l. 1902 and could not be paid before.
CONSOLIDATED TOBACCO BONDs-The 4 per
cent bonds OF the Consolidated Tobacco Company
were bought in large blocks Much of the buying
was said TO be for prominent interests identified
with the company. There has been a steady
absorption of these bonds for some time and this
fact. together with the buying the stock of the
American Tobacco Company at high prices is con-
sidered significant. Both the American and Conti-
mental Tobacco companies controlled by the
Consolidated company.
NO NEW ERIE BONDS-Rumors 10 the effect
that the Erie company would make an issue of
S2o'OOOCO of bonds are officially denied. The COM
pany has few Treasury bonds hand available
for sale, but sale is be made at present
Eries earnings are increasing and the company Is
in need of bond sales.
HEAVY WESTERN TRAFFIC.-RaiIroad earn
ings in the Northwest and Southwest continue 70
show enormous gains over the corresponding times
a year ago. Northern Pacific for the first week In
January increased slO2.517. making a gain from
July l of &S75,SSl. st. Louis and San Francisco
increased in the same week $57. .6s2 and from July
81 369,OO3
CORN EXCHANGE BRANCH BANK-Oficials
of the Corn Exchange Bank will neither affirm nor
deny the report that they have made a bid for com
troll of the stock OF the Manufacturers National
Bank of Brooklyn. The Corn Exchange Bank al
ready controls half dozen branch institutions in
the city.
APPOINTED TRUSTEE.-The Bowling Green
Trust Company has been appointed trustee under
the first mortgage OF the International and Great
Northern Railroad Company. succeeding John s
Kennedy and Samuel Sloan. who resigned