New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-12-29
TRUST FUNDs-DIvsIoN OF Redemption
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES.
FOREIGN TRADING.-Foreign houses dealt in
$1,000 shares selling 10000 shares on balance 1t
was supposed that London operators were taking
profits to protect themselves against possible
warke developments in the Far East. The heav-
lest sales were in Union Pacific Erie. Baltimore
and Ohio Steel preferred and Atchison. but selling
well distributed. In London the delicate Far
Eastern situation reflected in a decline of IA
per cent in consols to S77s.
COLORADO FUEL AND IRON FINANCE
QUESTIONS.-A Colorado Fuel and Iron Company
bondhoder. who recently visited Mr.. Rockefellers
office, says that Mr.. Rockefeller and Mr. Gould
are unquestionably DESTROYS of having the fundlns
plan Of the committee carried through; they be-
eve it to be for the best interest of the Colorado
Fuel and Iron Company and of the debentures Of
which they themselves large holders Ihey
think it fair and equitable solution of all the
difficulties which all classes Of creditors and Sc
curity holders of the Colorado Fuel and Iron Com
pany faced with, due to the fact that the
project is unfinished and that the company IS I'M
able to borrow money. This man says however.
that viewed solely a question of personal imam
cial advantage to themselves. Mr.. Gould and MI
Rockefeller can be entirely Indifferent as TO
whether the plan succeeds or not They have Tor
a long time foreseen the bankruptcy OF the com
pany unless some plan should be adopted oy the
debenture bondholders which would permit the
company to borrow money and furnish satisfactory
security. In view of this situation Messrs Rookie
Teller and Gould purchased certain assets of the
company. for which they agreed to pay about w.
100000 when the title to these assets was satsIac-
tory 10 them. From time to time they nave ao-
vanced money the purchase price, but IN each
instance for the sole purpose OF avertng bank
ruptcy which would certainly follow on the fall-
ure to make each advance They have advanced
thus far only about half of the price and Will ad
vance nothing further until satisfied as to their
title to the property received. If. therefore,
through the opposition of the debenture bondhoid-
ers the plan proposed should fail of adoption by
a sufficient number Of bondholders. the bondhold-
ers themselves must assume the responsibility OF
preventing the bankruptcy of the company.
ANTHRACITE COAL ROADS PROSPEROUS
For the ten months up to October 80 this year all
of the anthracite coal producing and carrying COM
panfes made record earnings-by far larger than
in any corresponding period. The Delaware and
Hudson and the Lackawanna early last spring
were expected to this year from 20 to % per
cent or better and they had come fully up to ex-
pecrations up to November THAT Is to say in each
case the earnings equaled about Is per cent on
the stock. The Delaware and Hudson has charged
off to operating expenses considerable sums Tor
improvements. betterments and new equipment.
and is understood have purchased. according to
its policy for retirement, more than 1000 shares OF
its own stock. The board OF managers Of the COM
pany will meet next Wednesday, and it IS I'M
derstood that dividend Of per cent for the year
1904 will be declared out Of this years earnings.
This is the rate paid this year. The well known
conservatism of the management OF the Delaware
and Hudson explains the apparent decision not to
increase the dividend disbursement. The board is
partly influenced in its policy by the general bust
ness conditions and by the btuminous coal con-
gestion The Delaware and Hudson figures. it is
understood, could easily be made to show 80 per
cent earned.
ANNUAL ELECTION.-At the annual meeting Of
the stockholders OF the Rome. Watertown and
Ogdensburg Railroad Company yesterday, the fol-
lowing were elected directors of the company and
( E77,4A 81
Railroad Company. and the Oswego and Rome
Railroad Company for the ensuing year: Charles
Parsons. Clarence S. Day. William Lumris George
Parsons. Edwin Parsons Walter Ferguson, Chaun-
cey NJ. Depew, Jefferson Hogan and R. W. Parsons
of New-York City. and J. F. Maynard John NJ.
Grouse. I. VI. Maynard and William Pierrepent
White, Of Utica. At a subsequent meeting of the
beard the following officers of the Rome. Water
town and Ogdensburg Railroad Company were
elected: Charles Parsons. president; Edwin Par
sons vice-president and treasurer; Clarence s
Day. Wce-president. and William H Pratt secre-
tary
AMERICAN LOCOMOTIVES is reported that
within the last three weeks inquiries received
by the American Locomotive Company for three
hundred locomotives. these inquiries coming from
two railroads. The outlook for business is par
ticularly good and II is evident that the orders
from railroads will be much larger in the next few
months than appeared likely a short while ago
DIVIDENDS DFCLARED-The German Saw
ngs Bank has declared interest at the rate of 3IA
per cent for the year for six months ended Decen-
Der 81. The New-York Savings Bank has declared
a dividend for the three six months ended jan
uary l. the rate of per cent a year. The Bank
for Savings has declared it's 169th seni-annuaI dvi-
dend the annual of S12 per cent payable on
January DO The New Amsterdam National Bank
has declared quarterly dividend of s per cent
payable on January 2.
ATCHISON Observation-Disclosures of the AtchI-
son system in November showed an increase of
$700195 in gross and increase of $23 2ss In net
comparison being made with the time a year
ago.
GOLD IMPORTS-Goldman Sachs & Co. have
s25o.c00 gold in transit for New-York Iazard
Freres have engaged s., 100000 gold for shipment
70 TINS side. The National City Bank has engaged
APPLICATION TO LIST.-The Mercantile Ma
tiOnal Bank has made application TO the Stuck
Exchange to list $,0G0000 additional capital stock
BUFFALO AND SUSQUEHANNA-Coupon No
| G. due January l. 1904 from the first MORTGAGE and
refunding per gold bonds of the Buffalo
and SusQuehanna Railroad Company will be maid
at maturity the Office of Fisk & Robinson No
| 30 Cedar-st.. NewYOrk.
HIGH GRADE RAILROAD BONDs-Harvev
Fisk & Sons offer to investors choice seIectjo3
of high grade railroad bonds, netting the investor
| 312 to per cent.
GULF AND SHIP ISLAND.-CoupOn No 1 due
January J. 1904. from the first mortgage refndinc
and terminal per cent gold bonds will be paid ar
maturity at the Office Of Fisk & Robinson No *
! Cedar-st., New-York. -