New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-03
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses were not
active in the local market. dealing in only Re"
thousand shares. evenly divided
ERIE'S EARNINGS.-The Erie earnings so Tar
reported Indicate that the fiscal year will show
proximately 4 per cent earned on the entire cap
itaIization AS the preferred stocks are limited TO
4 per cent dividends this that per cent IS
being earned the common. This cannot be con-
sidered otherwise than a satisfactory showing
when 1t is considered that the anthracite strike
which had been in progress for several weeks be
fore the beginning of the fiscal year. continued
until October 21 and, therefore prejudicialIy az
fected earnings of the first four months.
ROOM TRADERS SENTIMENT-"The Wall
Street Journal says:
Traders are inclined to work on the short side
f o 5e e t6en ouf II MAY nevertheiess be noted
that a good deal of bearish talk has been current
probably accounted for by the fact that develop
Vora lie, but are markedly so This is particularly
the case with railroad earnings ana Win crop
for account Of people who buy when they are cheap
and pay for what they buy is increasing Steddily
from day TO day. This will in time probably change
the sentiment of the room.
BOND SALES FOR APRIL.-According to The
United States Investor" bond sales for April
amounted to $1lO25. $50 ~. not including temporary
loans OF the above amount 50 5O7SS5 ~ were issued
by cities and 81 G43 coo by counties and Si75
900 by States. This amount shows an increase Of
Sc, 49, 81 March and an increase Of S5024,-
592 IS April. 1862.
The United States Steel Corpora ton has all the
business it can handle this year. An officer says
that The company is booked up completely for the
year, and is taking orders for 1901 As matter of
fact the could contract for entire output
for next year were 1t disposed. nut it is going
slow in the matter, it is uncertain about prices
The indications are they will be higher
BANK CLEARINGS.-The total bank cearings
OF all the clearing houses of the United States for
the week ended Nav were 81 49,. sos. 1856 against
in ne nd 3 fq4
the corresponding week last year.
THE COTTON OBSERVATION-DISCLOSURES TO The
Financial Chronicle the total receipts cotton for
the week ending May reached 81. 1873 bales against
S2,7S5 last week and 1858 the previous week max
ing the total receipts since September l. 1907
1904 bales, against 731.442 for the same period
OF l9O1-'02 showing an increase since September :
1902 of 1897 bales
RENEWED STRENGTH IN SILVER-The quo
tations Of 2i4d and 547sC respectively for bar
yer in London and commercial silver in this mar
ket, the highest figures in each instance reached
in the present upward movement in the white
metal. Silver experts yesterday said that the re-
newed strength of the silver market was due
primarily 10 the continued heavy demand for spot
silver These men look for stiIl further material
advances in silver.
DETROIT SOUTHERN STOCKHOLDERS.
MEETING CALI4ED--A meeting of the stockhoId-
ers of me Detroit Southern Railway Company has
been called for July for the purpose of voting on
the proposition TO increase the common stock of
the company from s105Oo010 Sl6.0o0.00 and the
preferred stock from $6.50o000 $1,000 coo No i'm
mediate issue OF the stock is contemplated The
proceeds from the stock will be used In part to
provide funds build bridge over the ohio
River and for the construction Of branch lines
CANADIAN PACIFIC.-Reports from Toronto in
dictate an issue Of stock by the Canadian
Pacific within a few months. Payments for the
Canadian Pacific Railways Atlantic fleet have
pretty well reduced the available cash i'm hand
which the company contemplated using for better
ments and equipment.
AMERICAN LIGHT AND TRACTION-Amer.-
can Light and Traction has issued a circular os
fernG to its shareholders $66000O of the unissuad
preferred stock at par. with which $4,000 Of com,
mon stock will be given bonus
BACK AT THEIR STAND--The recaIcit-ant
curb brokers who deserted their fellows for a I'VE
dav stand in front of the Mills Building have re-
turned to their associates in front Of the BROAD
Exchange Building The will of the majority rules
No objections the failure of the minority have
heen heard from tenants i'm the Mills Building
GIBRALTAR TRUST COMPANY.-The Gibraltar
Trust COMPANY which recently formed
with cauital Of s5G000Q and surplus of $500 ooo
will proba bly, open for business on June Is The
Merchants Exchange National Bank Of this CITY
and the United States Trust Company of Kansas
CITY are receiving subscriptions The directory Of
the new company includes the names of only four
New-York