New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-10
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
only few shares in the local market equally
distributed. In London consols were rather heaVy
on the disturbed international political situation.
but at 90 were not weak enough to indicate any
serious alarm over the Manchuria difficulty The
copper stocks showed considerable strength, with
the best advance in Rio Tinto-
ATCHISON'S POSITION.-In the year ended
June 80 last the Atchison company reported a
surplus over preferred dividends equal to $50 per
cent on the common stock. and if from this $50 per
cent be deducted the full charges and sinking
funds on the debenture issue the company I'M
doubtedly earned last year not less than 6l2 per
cent on the common stock after providing 25Oo.o"o
for sinking funds to pay off the debentures- In
tho current fiscal year. up to March 81 decrease
is shown of $4,000. the gross increase nav
ing been 50 600. It be stated that the entire
net decrease is due to charges for improvements
made to operating expenses, and that the increase
in transportation and general expenditure is not
more than 100000 for the nine months over last
wear. Thus. the earning capacity OF the Atchisoh
road this year is at least $4,000" and prooaoiy
s2GlOOO0 greater than il was III the corresponding
neriod of the previous year. In other words. as
,,i,,, no increase in net for the remaining three
months of the fiscal year, the true earning capac-
tv of Atchison this year Is at least per cent OH
the common stock. after providing the equivalent
of 215 per cent additional for repayment of bonded
debt If credit be taken for this repayment, Atchi-
son is this year earning well over 10 per cent on
its common stock.
,16EpU-AN ICE COMPANY.-'Cold Storage" in
its Nav issue Monday will say that large STOCK
holders of the American Ice Company are Ill laVot
of = combination with the Hammond Ice Company
of baltimore Ii is proposed to form holding COM
pany with s. 00O.Gto capital, and place o. hammond
nreside. and general manager of the Hammond
Ice COMPANY at the head of the combina ton. IL
is nroposed to turn two-thirds of each class
of stock of the American Ice Company to the hold
ing company. II is understood that II. L. Horton
is interested in the project
Illinois -Centrai-It is estimated that the Illinois
Central Road is year earning at the rate of IA
mr. cent on its present volume OF stock, and the
increase in the dividend rate 10 per cent basis
would be in conformity with the best abroad prac-
tice of paving out only one-half OF surplus earn
ipas in dividends. 1t is felt that the extent to
which the trend traffic has set i'll the direction
of Gulf ports insures d relatively better showing
for Illinois Central in future years, compared
with the present or the past IMAM In the case OF
East and West lines
Financial Chronicle the total receipts cotton for
the week ended May reached IS, 515 bales against
s. 49, last week and 1858 The previous week max
ING the total receipts since September |. 1902 80
sd IaIe against 1.191Sl0 for the period Of
i9ol-02 Showing increase since September 1892.
of 1894 bales.
RANK CLEARINGS.-Ba clearings the last
week as compared with the corresponding week
is Der cent. New-YOrk lost 3O3 per cent. Boston
per cent Philadelphia ~ per cent, baltimore "a
per cent ST Louis 80 per cent and New Orleans
81 per cent. Chicago gained AZ per cent.
RAILROAD EARNlNGS.-"rhe Chronicle COM
putes the gross earnings of hfty-two roads for the
fourth week of April at 81 SlS,6o3 increase of
seven roads for the month of April s5i 90
an increase OF s6,617.3i2 or 1888 per cent.