New-York tribune., 1903-05-22
WALL STREET AND EXCHANGES.

FOREIGN TRADINCI.-ForeiSn houses dealt IN
1900 shares in the local market all purchases
In London the market was generally faVoraoIy
affected by the reduction in the Bank Of England
r.+a and the ease in money Consos were 3-l6
higher at 9l7a and American stocks showed gen
eraI advance of Il to IA cent The copper STOCKS
were the only weak feature. The bank return was
a very strong one, and showed remarkably high
proportion of reserve to liabilities Paris exchange
~. frrner and money was easier in all the Euro
pean centres The reduction in the Bank Of Eng
land rate 31s per cent is the first change since
October > 1902 when the rate advanced from
per cent to 4 per cent which had been the pre-
vaiIing figure since the previous February. The
maintenance of so high rate up 70 so late date
as this is very unusual. and has not occurred In
recent
STOCK LOAN QUOTATIONs.-Loan quotations
were: AmaIgamated Copper. Anaconda, American
Ice Atchfson common and preferred. Brooklyn
Rapid Transit Baltimore and Ohio common Col
orado Fuel. Delaware and Hudson. Erie common
first and second preferred. Louisville and Nash
willie Manhattan Missouri Pacific. New-Iork Cen
trail Norfolk and Western, Metropolitan Street
Railway Pennsylvania. Peoples Gas Reading first
preferred. Rock Island St. Paul. Southern Railway
preferred. Southern Pacific Sugar, Tennessee Coal
and Iron Union Pacific common and preferred
Tinted States Steel common and preferred, United
States Leather preferred Wabash preferred and
Western Union, 2ia per cent; Canadian Paclhc'
fat012.
THE CORN CROP CoNDITIoNs.-Reports to
G Dun & Co in the corn belt indicate that
planting is from TO four weeks late In most
sections the ground is dry that it is impossible
to prepare it properly, and while no indications
of the acreage be given at this time. it is gen
orally reported that the usual acreage will be put
in The weather has been very bad-in the early
spring too cold and wet and now too dry and hot
In Ohio the ground is baked and little seed has
been planted The acreage will probably be about
the same as last year. In Indiana planting is
hut -patH tHar a a
Even in the river bottoms, where foods early in
the season delayed work, rain is now needed 10
put the ground in proper condition for planting.
In Illinois the acreage will exceed last year, but
planting is greatly delayed. In Iowa and Missouri
recent warm rains have benefited the ground, and
conditions reported generally satisfactory
In Kansas the weather has been cold and wet and
much repanting has been necessary. In Kentucky
and Tennessee the acreage is fully to last year,
and in sections there is an increase, but the
crop Is very backward.
UNITED STATES LEATHER WORKING CAP
ITAI.-The report is being circulated again that
the rnanagement of the United States Leather
Company is considering for providing addi-
tonaI working capital. For little time it has
been generally admitted that the company was in
need of about s. 100000 for this purpose A bond
issue has been the most talked of plan. and II is
now rurnored that the company is seriously con-
siderinC this matter. Nothing OF official char
acter was obtainable yesterday regarding the
NOR and in some well informed circles it seri-
o,slv doubted that any such action would be taken
at this time.
FROM STOCKS TO COTTON.-A prominent Stock
Exchange house has sold 5000 shares of various
stocks during the last four days. and has gone
short of July and August cotton. The cotton is
margined Is cents. and those who have sold
predict that they will cover below 10 cents.
NEW BONDS ON THE CURB-The United
States Rubber Company's per cent collateral
gold notes were dealt in the curb for the first
time yesterday. The quotation was 96q9S12. The
notes were issued to consolidate and refund the
floating Indebtedness which the United States Rub
ber Company and the subsidiary companies had
been carrying for years They were issued
under a trust agreement with the Morton Trust
Company IS trustee and are secured by the deposit
of notes aggregating s12.eo0O00 of the subsidiary
companies.
GOLD EXPORT SITUATION.-u is reported that
arrangements made yesterday to ship s290 900
gold to Canada. Barring, Magoun & Co announce
that they will ship $3.50 900 gold coin to Argen-
tina on the steamship Merchant Prince sailing on
Monday next. The Tradesmen's National Bank OF
Philadelphia will ship $4,000 gold to Buenos Ayres
Monday
NORTHERN SECURITIES Low RECORD
The feature in the outside market was the pro-
nounced weakness in Northern Securities which
declined to 80. the lowest price which the stock
has ever sold The preceding low record price was
made Just before the close Wednesday when
sales were made at 9Sa4
BROOKLYN RAPID TRANSIT.-BrookIyn RAND
Transit is. is said. at the present time paying
the Edison Electric Light Company $4,000 a month
s2io0n a year. for power. With its new power
plants completed the Brooklyn company Will be
able to this expenditure we'll as make a
considerable saving in its own power costs
TWO DIRECTORS ELECTED.-E. T. Jeffery
president of the Denver and Rio Grande Railroad
Company. and Ashbel p Fitch president Of the
Trust Company of America. have been elected iii
rectors of the Bowling Green Trust Company
TRACTION COMPANY EXECUTES MORT