New-York tribune., 1903-06-28
WALL STREET AND EXCHANGES.

FOREIGN NTRADING-Foreign houses not
active in the local market American stocks III the
London market r&ctive. but showed Ia!F
amount of strength. There vas very little stock
offering at the close with quotation generally OF
Il to y per cent above parity. The copper stocks
were firm and a further advance OF 4 per cent in
consols making a gain of nearly l per cent IN the
last week was an encouraging feature
ERIE EARNINGS.-Earnings of the Erie Rail
road will end the fiscal year with large gain. both
In gross and net returns. despite the fact that IN
several months of the year income was reduced
through the anthracite coal strike. For May gross
earnings larger than in any May In the history
of the company. amounting to A,951SO, an increase
of S942 o52 over the same month last year Net
earnings increased S626,162 making for the eleven
months of the fiscal year gain in net OF s2U2S0Zo
after an increase of 81 76l 1872 in operating expenses
Erie is making splendid progress in its financial
and physical condition. and it is not surprising that
careful buyers are accumulating its securities
Erie has never been more ably handled than at
present
SUGAR MARKET CONDITIONS.-Brokers re
port much larger Withdrawals of refined sugar, and
refners say that they are more or less oversold
The West has been taking a good deal of sugar
lately, the weather in that section has been
much favorable than it has b-en here. JooberS
letting the refiners carry their for them
but the reiners intimate that if the demand picks
up rapidly the market would be much oversold
that shipments would be seriously delayed. RaWs
firmly held at the quoted basis, with isht
offerings
BANK CLEARINGS-The total bank clearinGs
all clearing houses of the United States for
the week ended June q have been $3.50, ,69S,16s
against 81 1O 9eO54 last week and 1882 SA,61 the
corresponding week last year.
PENNSYLNANIA.-PennS MIA a strong
feature the early trading. the assured success
of the stock issue Experienced judges esti-
mate that when the new stock becomes good de
livery there will be a floating supply in the street
of about $40000O00 of stock. This should be grad
ualIy easily absorbed the natural process of
investment.
COPPER CONDITIONS.-Certain independent
producers offering lake copper at 1il4 cents
Export business is at a standstili 1t is probable
that the United Metals Selling Company will reduce
it's prices 141i within a week One large
firm is Offering copper wire at Il cents. which is a
cent and a below the prices other producers.
1t is this selling that has unsettled the copper
market.
AMERICAN CAR AND FOUNDRY-"The Wall
Street Journal says: About the most legitimate
advance in the market in American Car and
Foundry common, where the buying of the last
days has shown that industrial company
with a good report attract very respectable
kind of investment buying without articiay slim
uatng the market
READINGS DIVIDEND.-T is reported
Philadelphia that the Reading company its Au-
gust meeting Will declare dividend OF + per cent
its second preferred stock
EXPECT TO HAVE \ HOLIDA1.-It is thought
that the governing cOmmltLee of the Stock tx
change Will act tavOrably the petition pre-
sented to it on Friday by brokers of the exchange
grant holiday Friday. July ,. The Coffee
Exchange will close that day similar petit
ton has been signed at the Produce Exchange.