New-York tribune., 1903-04-25
WALL STREET AND EXCHANGES.

WALL o1hECl hNO GAOhhNoAD'
FOREIGN TRADING-Forcign houses dealt in
25 900 shares the local market. mostly sales IN
London consols retained their advance OF the pre-
ceding day. The reduction in the income tax mad
q favorable effect upon sentiment. but there was
no disposition to take independent attitude IN
American stocks. There was no feature In money
or exchange in any of the European centres Inc
strength of bar silver. which made another I'M
portant advance. was a feature Of the Foreign
cables.
CURRENCY MOvEMENT.-The principal move
ments of currency this week. as compiled oy Ahe
Wall Street Journal indicate that the oaiAS
gained thereby N.6a.h00. They received from tie
nteror Is 1892 500 and sent the interior Sl2o4oo
of which 100000 transferred through the SUI
Treasury to New-Orleans The gain from the IN
terror was 81 $50. 400 Receipts Of new Goio were
81 6s51oo of which s1.195.GOO on New-fork AS
say Office checks s49l 800 was on San Francesca
Mint checks and teegraphc transfers. AID S''1"
was on Seattle Assay Office checks Inc ORDINARY
disbursements by the Sub-Treasury Tor the ~eeN
were s19 245 500 Payments by the banks TO the ouo
Treasury for customs. Internal revenue per cei'
redemption fund. etc. H7.So0O0 Inc gam
from Sub-Treasury opera tiOns proper was sIso''''
The total gain from the interior, new gold ana 'ie
Sub-Treasury 1851. 400 The feature TINS "eeA
was the large gain of $i.5S64OO from the lnteiioi'
which compares with gains for the coTrespo"uIns
week of sS1s 700 in 1902 and SS0393oo in 1901 Inc
gain of s. 3S9 800 SubTreasury operations proper
is also unusually large. Pension payments -of 'ie
week were s., 1000. Collections OF customs "eie
s3lS97oo They have averaged little over ''O0''O0
daily for the last two weeks.
STOCK LOAN QUOTAT1ONS-Loan quotations
were: Amalgamated Copper. Anaconda, American
Ice Atchison common and preferred bFooAIsn
Rapid Transit Baltimore and Ohio common "a
madam Pacific Colorado Fuel. Delaware ana HUI
son Erie common first and second preferred
Louisville and Nashville, Manhattan. missouri rd
cifc New-York Central. Norfolk and western
METROPOLITAN Street Railway Peoples Gas. Readlns
first preferred Pennsylvania, Republic steer pre-
ferred. Rock Island. ST. Paul Southern Railway
preferred Southern Pacific. Sugar. tennessee Ooai
and Iron, Union Pacific common and pFeIeIleu.
United States Steel common and preferred Onlteo
States Leather preferred. Wabash preferred anu
Western Union 1854 per cent
AMERICAN CAR AND FOUNDRY.-The Aneri-
can Car and Foundry Company has received ne"
orders for follows: Norfolk and southern
100 freights; Lehigh Valley Coal Company. 2O5 COAL
and miscellaneous. IS. The annual meeting OF the
American Car and Foundry Company will be held
in the last week in June. Such information as mas
been given out from official sources from time to
time during the year has been OF a most IaVordole
character regarding the condition of the company
and q satisfactory annual report is generally ex-
pected. The business of the company mas been
enormous. 1t may be stated that for at least SIX
months it has been booking orders far in excess OF
its output In March its orders were more than
double its monthly capacity Its books show.
business on hand aggregating fully $0c,VeJJGO IL IS
estimated from advance figures which have come
to hand that the net earnings of the company Ior
the fiscal year drawing to a close will be at
least double the entire dividends on potn the coi-
mon and preferred stock.
CHICAGO UNION TRACTION RECEIVERS
ORGANIZE-The receivers of the Chicago Union
Traction Company have organized by electing the
following officers: President. R r. Gown, of H B.
FoIlins & Co; treasurer, James H Eckels, former
Controller of the Currency and secretary. Marshall
P. SampseI.
PIG IRON MARKET.-Rogers, Brown & Co. say:
ay7do half frY10ra
tons of pig iron this year than last but two facts
more than offset this. Buying of foreign iron has
stopped. Last year nearly million tons came IN
Consumers, instead of cutting down sharply, as In
1900 are increasing their melt from to 10 per cent
This means million tons additional required,
so that four thousand buyers in the country will
all want to cover about the same time They
will then wake up to the real situation"
BALTIMORE AND OHIO.-The pool in Balti-
more and Ohio moderately active, and sue
ceeded in giving rather strong tone to the stock
The report that the April earnings would make as
good a showing those of March Is probably well
founded but the best information is that no in-
crease in the dividend at this declaration need be
expected
GRAIN NEUTRALITY-SUSPICIOUS. reports the
exports of wheat for the week $40 bushels,
against 297777 bushels last week and 375O5S9 bush
els last year Since July l, 1S5.079O93 bushels,
against 30 1888 bushels last year. Corn for the
week, 1896 bushels against L677621 bushels last
week and 376.1S6 bushels last year. Since July 1.
So 169 1856 bushels against 239993l bushels in the
same time IN 1902
MEXICAN ISsUEs-The strength in the Mexican
issues was based on the advance in bar silver and
the decline in Mexican exchange. This
increased effective earning capacity and naturally
reduces the strain the resources of the Mexican
roads The large increase in earnings has been dis
counted in both Mexican Central and Mexican Ma
tiona by the fact that the fixed charges had to be
paid in American currency.
WABASH-Not more than s5,00A 900 Of the new
Wabash terminal bonds will be used this year. the
remainder being reserved for future The most
important work to be provided out of the
funds Is the establishment of terminals at
Toledo
AMERICAN SMELTING.-American Smelters
showed considerable strength the Improvement
in silver which is thought likely to continue in
view of the requirements for India and the Philip
pines The Guggenheim following was particularly
bullish
AMERICAN LOCOMOTIVE.-Americ Locono-
tive has received orders for engines follows:
Boston and Albany, twelve: Santa Fe, Prescott and
Phoenix three, and Newburg and South Shore.
UNITED STATES REALTY.-An officer OF the
United States Realty Company says the company
is lending S7000000 in the Street
GEORGE A. FULLER COMPANY.