New-York tribune., 1903-06-03
WHEAT.
WALL STREET AND EXCHANGES.

FOREIGN TRADING--Foreign houses dealt In
$1,000 shares in the local market, buying on bal
ance In London consols showed a frruer tone
but the general market was somewhat inactive
Money was easier in all the European centres Ex-
change on Paris eased off little and continues at
a point where gold exports in some quantity are
easily possible. Bar silver showed substantial
Improvement.
STOCK LOAN QUOTATIONS.-Loa quotations
were: Anaalgarated Copper. Anaconda, American
lee. Atchison common and preferred, Brooklyn
Rapid Transit, Baltimore and Ohio common Col
orado Fuel. Delaware and Hudson. Erie common
first an5 second preferred, Louisvlle and Nashville
Manhattan Missouri Pacific. New-York Central,
Norfolk ana Western, Metropolitan Street Rail
wav. Pennsylvania. Peoples Gas, Reading first
preferred. Rock Island St. Paul, Southern Railway
preferred. Southern Pacific. Sugar, Tennessee Ccal
and Iron Union Pacific common and preferred
United States Steel common and preferred, United
States Leather preferred. Wabash preferred. West
ern Union 21a per cent, and Canadian Pacific per
cent.
FOREIGN DEBT REDUCED--"The Wall Street
Journal says that there is excellent authority for
the statement that some highly important reduc-
tons IN our Indebtedness abroad have been made
this spring. One foreign house OF the first class
has paid off S35 00j in the last few weeks and
four important foreign houses. we'll known in the
Street have together iiquidated borrowings abroad
10 the extent Of s5 o00 The importance Of this
Hes not in its Immediate effect upon the item OF
loans in the bank statement, but upon posi-
ton in the fall It IS obvious that with such
clean srset is here indicated the slightest sign Of
money stringency will bring abundant supplies from
all the principal financial centres. The persistent
buying Of stocks by London and other European
centres IN face of the generally beartsh tone here,
IS explained in the knowledge that International
financial condition is particularly sound It is prob
able that have paid off $50 100000 Of foreign
Indebtedness this spring
MARKET GOSSIP.-It was said that there was
better organized support, and 1t was noticed that
the professional element trading for ad-
vance on the theory that the worst features had
been discounted The Standard Oil brokers were
buyers Of St. Paul and H. Well and his following
took stock round the room It looked as If the
Waldorf crowd had changed over to the long side
Amalgamated Copper was noticeahIy weak on the
reduction In the London price Of the metal and the
heavy selling Of Rio Tlntos in London for Paris &C
count. Trade interests here were not hopeful Of
maintaining the price OF the metal al the present
level in view Of the severe decline in London. The
demand for Leather preferred In the early market
was significant indicating that good dsal of the
recent selling had been for short account There
was an early borrowing demand for Missouri Pc
cifc, Union Pacific St Paul and Atchison in spite
of the rather harder money rate. while Canadian
Pacific was very scarce at per cent. A A Hous-
of the principal buyers Of stock
around the Mr. Housman was one of the
big bulls several years ago.
PENNSYLVANIA Observation-Disclosures Of the
Pennsylvania Railroad for April show an increase
600 on lines east Of Pittsburg and Erie Earnings
on the divisions west Of Ptttsburg and Erie in
creased in gross s62-60o and in net $50 200 From
January l gross earnings for the entire system
have increased S6572f00 while net earnings in the
time have decreased S752.5O0- The heavy de-
crease in net earnings has been due 10 enormous
expenditures on the property from earnings op-
a82355o ''-'-00 7--''s January
NATIONAL BANK CIRCULATIoN.-Tbe "a
tonal bank circulation outstanding May q was
month and of 1865 Ga since May q. 1862 The IN
6a6 @ @ MaS Ws oh On and 906as [ aqTPg the
circulation based OF lawful money was s731 I55
hONDIKE GOLD TO OFFSET EXPORTS TO
ECROPE-In sTeaking Of the prospect Of further
gold exports, bankers point that there viii De
an iIpoI AM otLsSI N tA9 so41 "IliCh Will be re-
celVed this season from the hIondlke- In about
ten days gold from the Yukon will begin 70 arrive
Aaska and British coiumba dlstrets is FTPec{e {ns
this summer 70 reach SIS oooooo This domestic
possible outflow Of the metal from New-Yorl civ
ROCK ISLAND 'ouTraC+s If when and &C is
sued" for Chicago. Rock Island and Pacific Rail
been admitted dealing in the unlisted Department
Of the Stock Exchange. II
STEEL MEETINGS.-The meeting OF presidents
Of subsidiary steel companies and managers OF de
parunents at the Office af the United States Steel
Corporation continued yesterday. and the monthly
meeting OF the directors Of the corporation vas
also held 1t was announced that the conference
OF presidents is for the purpose OF discussing prices
for 1901 No statement Of the directors meeting
given
CUSTOMS BUSINESS.-GeoJEe W. Whitehead
the Appraiser yesterday received reports slovyiUa
the amount Of customs business handled az me
invoices end appraisement orders received at he
Appraisers stores and the appraised value OF rner-
ures for May 1907 2755l. and s39 SIS S. The
appraised value OF aianIh1s aia., f aIe other precious
Cos For each month thus far IN 1903 the In
although last year broke tie record up 20 thai