New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-25
WALL STREET AND EXCHANGES

5000 shares in the local market mostly sales Al
though the Bank OF England did not change it's
rate and made fair return both in the matter Of
hgh proportion Of reserve to liabilities and
gain in bullion the week the market did not act
well Consols were trihe firmer. but American
stocks sold OF Under what looked like renewal Of
pressure from this side. The Steel stocks and
Baltimore and Ohio were particularly weak For
eign exchange on London was harder but money
in the open market was not changed although still
in good demand.
STOCK LOAN QUOTATIONs-Loan quotations
were; Amalgamated Copper. Anaconda. American
Ice Atchison preferred. Brooklyn Rapfd Transit
Delaware and Hudson. Erie common. first and sec
ond preferred. Louisville and Nashville Manhattan
Missouri Pacific. Norfolk and Western NetropoIl-
tan Street Railway. Pennsylvania. Peoples Gas
Reading hrSt preferred, Southern Pacific. Sugar
Tennessee Coal and Iron. Union Pacific preferred
United States Steel common and preferred limited
states Leather preferred and Wabash preferred >
per cent; Atchlso7 common, Rock Island. St Paul
and Union Pacific common 14G2 per cent: BaIti-
moro and Ohio common. Canadian Pacific. Colorado
Fuel and New-YOrk Central IL per cent: Ar1erf-
can Ice preferred. Western Union and Realty COM
mon and preferred. fiat; American Locomotive prs-
ferred 1-64 and Republic Steel preferred 1-32a1s4
MARKET GOSSIP-Wasserman ard the west
ern crowd were the principal sellers Of Reading
Some Philadelphia orders were also reportcd The
shutting down OF the Lehigh Valley mines for
two days was Interpreted unfavorably 50 far as
ell the hard coal stocks were concerned The
selling I'm General Electric looked good and was
said to be the continuation Of the realizing OF an
important account which has been In process Of
liquidation for some little time past. The weak
ness fin New-York Central caused one or two
testing sales I'm the Junior Vauderbits noticeabIy
in Nickel Plate There obviously n poor
market for such issues. It was hoped that the
weakness in cotton would encourage buying Of
stocks such Louisville and Southern Railway.
The only effect seemed 10 he to bring out long
stocks. The Louisville selling was good, and
understood to come from people who would
be fairly well posted the plans Of tho Atlantic
Coast control. The selling OF Missouri Pacific was
said to be for an interest once closely associated
with pool operations. whose market position
materially modified at the time Of the change OF
control I'm Sea5Oard.
AMERICAN CAR AND FOyNDRY.-It can he
stated. upon the authority % W. X. BiXby. chair
man OF the GARD OF directors Of the American car
and Foundry Company. according To The Wall
Street Journal that the quarterly dividends 10
Dee declared early in October will be at tho usual
rates. namely. Ia per cent tie preferred stock
and per cent on the common. Ir. Bixby says
that the earnings justify the payment Of these
rates and that no change Will he mace IN the
dividend on the common stock so long as earnings
are large enough to continue it on the present
basis without fmpairing the working funds. Mr.
Bixbv added that the lull I'm the demand for rail
road cars is largely due to the higa rates Tor
money lie saws that there are some large orders
as soon as satisfactory arrangements can be made
to finance them After the demand for money TO
move the crops - over Chairman BlNoy THINKS
there will be an easing up in the rates for money
and the railroads will then resume purchasing
equipment on a liberal scale.
MERCANTILE MARINE. p Morgan Co.
eecaI agents for the international Marine COM
pany will or october pay sem-annual interest on
the SO n OI0 issue Of AZ per cent bonds OF the Dig
e-aar77srir, continuation. This interest payment
79-u is he
cor,oarv since it's organization a year ago The
bonds are held by the underwriting syndlcale' ana
the october interest payment Will make S-.-''vV
maid 10 the syndicate. leaving SH.'5L'' as the IN
,a-v-rters. cash payment TO the Mercantile Marine
COMPANY
RAR SILVER IN LONDON.-The London mar
tet for bar silver yesterday was fairly rampant.
The price at , p. m. was p 9-l6d.. an advance OF
SD from the preceding days close Inc Hil4i 4-o-
ration was md. The commitments Of the bears
r,-ora so large and the supplies in sight were so
email tina: the market was regarded as almost
cornered. -
RFyTIRING GOVERNMENT IS OF l9ot-The
S,,b-Treas,lrv began yesterday the purchase Of .
- ut bonds of 1894 in accordance with Secre-
-, =bavy-s Instructions The offerings amounted
onIy to $1,000. although some of the bond houses
Informed the Sub-Treasury that they WOULD pre-
sent substantial amounts soon
ROCK ISLAND DIRECTORS IN FRISCO
p ATTFOAp-At a meeting yesterday OF the di-
rectors OF the St Louis and San Francisco Rail
road Company the following directors resigned:
! a. Henderson. T. &. kerens. J. 5. Ford. G. ".
billiard and H. II. Porter They were succeeded
bv w H. Moore. w g. Leeds. d. G. Reid. J. H.
Moore and F. y. Hne. The new directors are all
prominently connected with the Rock Island COM
panv. The Frisco system has been practically
absorbed 10y the Rock Island
BAY STATE GAS.-The reorganization COM
nlittee Announces that the plan Of September Il
o. Bay State Gas and United States Light and
Heating Company Is success. ana that the stock
Will be exchanged and delivered by the knIcker-
booker Trust Company.
LACKAWANNA DIVIDEND-The directors OF
the Delaware. Lackawanna and Western have lie
cared a regular quarterly dividend OF Ia per cent
the capital stock. paya5ie on October ~.