New-York tribune., 1902-06-18
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-London dealt in about
,50oo shares in this market, practically all sales.
The business principally In Erie, Reading St
Paul Union Pacific and Atchison. Arbitrage houses
reported & disposition in London TO reduce commit
rnents until after the coronation. which VIII ne
mace the occasion for three days holiday.
STOCK LOAN QUOTATIONS.-Loan quotations
we're: Amalgamated Copper. Anaconda, American
Tee Atchison common and preferred Brooklyn
Tapjd Transit, Baltimore and Ohio common, chi
ego Terminal Colorado and Southern, Delaware
srd Hudson. Erie common, first and second pre-
<srred Louisville and Nashville, Manhattan, Mis-
souri Pacific. New-York Central Northwestern,
afe-rorortan Street Railway. Peoples Gas, Read
,np arst preferred. Rock Island ST Paul, Southern
z,eilv-sv preferred, Sugar Refining. Southern Pa
oiac Tennessee Coal and Iron, Union Pacific com
o, and preferred. United States Steel common
,,5 rreferred. United States Leather preferred,
-T-srash preferred. Western Union and Republic
steel common and preferred. 213Q9 per cent.
FOREIGN EXCHANGE-The present hrmness in
4.rsr, exchange is largely due the scant supply
- biIls The market is also Influenced by the de-
,,,a IN sterling at Paris and Berlin and the ad-
vance Of = per cent in the discount rates at those
+-as There is fair inquiry for remittance.
rp1E IMPROVEMENTS Erie Railroad
,-,nsnr II is reported, viii expend 100000 in
,onro,enents, including elimination Of curves and
re5ucrion Of grades. double tracking and enlarge
arr of Yards The work will occupy three years
more. While the plan for raising the money has
not been arranged, an issue Of So per cent bonds
;s said 10 be under consideration.
rpr,T NORTHERN PAPER COMPANY
c-ocxbolders q the Great Northern Paper Com
- have approved an issue Of SS0e0,0o1 per cent
tr.-fve wear gold bonds. which have been
-, ,sl,ar by the stockholders at par. The
IDS will permit the retirement of floating debt
r barvyeen S400I)1 and 5000 which was incurred
= he r7I~.hase of timber lands and, with the earn
Us If the company. viii provide sufficient funds
- erect The new mill a Madison. Ne, and also
r,z35e working capital. The capitalization OF the
c-.a- Northern Paper Company now stands at
e e0oso per cent bonds and S5,o9eco stock
United STATES STEEL--The outcome OF the
,-oeea5i1lgs 10 prevent the new bond issue or the
9-,,s5 safes Steel Corporation viii not he deter
,4ne= for 2 considerable time BY the proposed
conversion OF preferred stock into BONDS ihe posi-
tion Of the asserting sJockEolcer i cAa--ssU y
gvirg him q lower rate Of income with q better
sscuritv while Inc posluon Of the aot-asseilt-i.S
gtockho,der is changed by putting fixed charge
ahead Il his dividend. No1 few lawyers insist thai
a stoekholc-r cannot have his position changed
against his VIII except IN case OF foreclosure Inc!
hid that he has right % stay as he l. unless
Inducements are sufficient 10 make him wish 10
cha
CONSOLIDATED COMMIsSIONs.-Som misap-
nrehens!on Is said TO exist in regard 10 me ne"
sese1uIe OF commissions on the Consolidated Stock
Exchange, which went into effect on Monday, The
charge OF \ per cent applies only on lots from
ten TO forty shares. On lots Of more than forty
shares the usual commission Of Lilo per cent is
charged
MISSOURI, KANSAS AND TEXAS-In explana-
ton OF the deficit Of $54340 shown by the Missouri
Kansas and Texas Railroad for April an ohlcer OF
the road SAYS: April the first OF our bad
months During the summer months our uafnc
falls of greatly the grain supply OF the preceding
year being exhausted about March 20"
ST JOSEPH AND GRAND ISLAND-It is re
ported that the directors Of the 81. Joseph and
Grand Island Railway at their meeting on Friday
vii declare the usual seni-annual dividend OF zl2
per cent or the preferred stock, but il is re-
ported that the payment of dividends will not yet
be begun on the second preferred stock There has
recently been q considerable absorption Of the
stocks OF the St Joseph and Grand Island.
DIVIDENDS ANNOUNCED.-The following divi-
dends are announced: Frank - Nunsey Company,
IL per cent, quarterly; Franklin Trust Company,
per cent. quarterly: Central National Bank, per
cent, seni-annual; Colonial Trust Company, 5 per
cent, seui-annual; Metropolitan Savings Bank,
seni-annUai at the OF 80 per cent year;
Title Guarantee and Trust Company, quarterly at
the rate Of 2 per cent year; Trust Company Of
America, serni-annual at the rate Of per cent a
year
NEW STOCK EXCHANGE MEMBERS--The
following have been elected members OF the Stock
Exchange: Hamilton Fish Benjamin, Hiram Z.
Deving and Frederick w Anness.