New-York tribune., 1902-02-12

! Il
FOREIGN TRADING-Foreign houses dealt in
% 900 shares in the local market. with purchases
! predominating. In London American stocks were
| strong especially Southern and Union Pacific and
the hard coal shares, Exchange on London was
! firm in all European centres and money condi-
/ tions were easy. The Imperial Bank Of Germany
| reduced its discount rate to per cent Ihe
fortnigh+Iv settlement went off easily. with con-
tango rates light.
| STOCK LOAN QUoTATIONS-Loan quotations
were: Amalgamated Copper Anaconda. Atchison
common and preferred. Brooklyn Rapid Transit.
Baltimore and Ohio common. Chicago Terminal
Delaware and Hudson. Erie common. first and sec
ond preferred, Louisville and Nashville. Manhat-
tan Missouri Pacific. New-York Central. People $
/ Gas Reading first preferred, Republic Steel com
mon and preferred. Rock Island St Paul Southern
/ Railway preferred Southern Pacific Sugar. Ten
ncssee Coal and Iron. Union Pacific common and
preferred. United States Steel common and re
fcrred. United States Leather preferred Wabash
/ preferred and Western Union. 2l2 per cent
MARKET FEATURES.-Americau Express made
further progress toward higher prices. but United
States Express sold off sharply. although in the
late dealings it recovered half fits previous decline
Consolidated Gas advanced sharply renewal Of
activity in Texas Land Trust, based on the ex-
pectaton of a coming favorable annual report car
ried the price up to per cent Glucose sugar
| Refining was weak and Sugar Refining gradually
lost point. Amalgamated Copper was barely
/ steady. while Anaconda declined a point IN the
late dealings. the general market was depressed
somewhat by closing of accounts over the holiday
and the market ended irregular and somewhat un-
settled.
MARKET INFLUENCEs-The reduction in the
Imperial Bank Of Germany discount rate contrib
uted to increase confidence in continued monetary
ease London a buyer on balance and the
: advices tho other side were more favorable
[ to American shares than in some time Many OF
I the DAYS movements were regarded indicating
I a revival OF activity the part OF the large in
terests having in hand various schemes for the
unihcatiou and development of properties. Foreign
exchange rates indicated further heavy ship
ments of gold while money market conditions fore
/ shadowed continued ease in lending quotations
WABASH SECURITIES-Dea In the Wabash
debenture bonds amounted in par value TO 81
$4,000 of a all issues Of nearly 5000 OoO
Heavier transactions recorded in the pre-
ferred and common shares. but no new development
accompanied the movements. II is generally be-
lieved that developments pending which will
have a most favorable effect the Wabash COM
pany and its securities II is thought that the
common stock will eventually become leading
market favorite.
COLORADO AND SOUTHERN.-Buying OF the
Colorado and Southern issues continues active
scale. II IS known that the company Is making
heavy earnings but the activity In the stocks sug-
gests that important Developments affecting the
property may be announced. The common
stock is being bought by many people who took
St. Louis and San Francisco when Il was selling
at 10 This last named Issue is quoted above g.
READING IssUEs.-Reading issues were heav-
fly bought by a good class of traders and the sec
ond preferred made high record price Was
sermann Brothers We're heavy buyers Of the second
preferred, and II was thought that this issue
would he retired. According the terms OF
the voting the earliest date at which the
second preferred may be retired is in August. 1902
CANADIAN PACIFIC.-In the first half OF the
fiscal year the Canadian Pacific showed. after all
interest charges and preferred dividends, a bal
equivalent to per cent the common stock.
or at the rate OF IA per cent for the year. divi
dend OF 2i2 per cent for the half year has been de-
clared the common stock.
TEXAS AND PACIFIC.-The directors Of the
Texas and Pacific Railway have declared an inter
payment OF per cent the second consolidated
income bonds. The last preceding payment
per cent
OFFER TO HOLDERS.-J. p. Morgan & Co. hav-
ing purchased from the Chesapeake and Ohio Rail-
way Company its general mortgage az per cent
bonds issued 10 acquire the first mortgage bonds
OF the Ellzabethtown. Lexington and Big Sandy
Railroad Company. they prepared offer TO
the holders OF these bonds the privilege exchang-
ing AZ par and interest 10 maturity for Chesa-
p"aIe and Ohio general mortgage AZ per cent gold
bonds at l07is and accrued interest to date OF
change. The bankers reserve the right to withdraw
this offer any time without notice. and IL will
terminate in any event March :.
SECURITIES LISTED.-The following securities
have been added the Stock Exchange list:
81 .362. 100 additional common stock or the Chicago
Milwaukee and St. Paul Railway Company, $4,000
additional hrst mortgage per cent gold coupon
bonds Of 1919 and $4,000 additional second mortgage
per cent gold coupon bonds or 1909 Of the Inter
national and Great Northern Railroad Company
SGo7c00 additional consolidation mortgage per cent
gold coupon bonds of 1916 of the Oregon Railroad
and Navigation Company. S5.4el 900 first preferred
stock $350o0O second preferred and $4,000 0DD
common stock or the ST. Joseph and Grand Island
Railway Company, $LSl9000 St. Louis Division re-
funding mortgage per cent gold coupon bonds OF
20ol Missouri. Kansas and Texas Railway Com
pany. $2OOO0Oo0 Pittsburg Lake Erie and West Viz
giria system refundinE mortgage { per cent gold
coupon bonds Of 1871 OF the Baltimore and Ohio
Railroad Company. s50oOG0 first preferred stock OF
the Associated Merchants Company and 81. 81 $50
additional preferred stock and sill gS additional
common stock Of the Philadelphia Company