New-York tribune., 1903-02-25
wAIL STREET AND EXCHANGES.

FOREIGN TRADINC--Fore1gn houses dedtt III
10000 shares in the local market. mostly sales In
london the general market was steady. but very
reat1reIess Yesterday was the commencement of
the regular fortnightlv settlement and the decline
in Americans therefore more marked as trans
actions were for settlement In the middle OF March
Money was in better demand in London. and nrrn
in Continental centres. Paris exchange was
lust about gold shipment point but the reaction IN
demand sterling in New-York killed talk of exports
Thursday
STOCK LOAN OUOTATIONS.-Loan quotations
were: Amalgamated Copper, Anaconda, American
Ice Atchison common and preferred BROOKLYN
Eanid Transit Baltimore and Ohio common Chi-
csgo Terminal, Colorado Fuel. Delaware ana HUI
SON. Erie common first and second preterreo'
louisville and Nashville, Manhattan Missouri "a
cifc New-York Central, Northwestern. Nor1olk
and western Peoples Gas, Reading first preferred
RenubIic Steel common and preferred, Rock Isl
and St Paul, Southern Railway preferred South-
ern Pacific. Sugar, Tennessee Coal and iron tlloh
Pacific common and preferred, United states steer
common and preferred. United States Leather pre-
ferred, Wabash preferred western oHiO'i' -fi'
per cent. 80
ELECTED Observation-Disclosures c. Galoralth
who has for sixteen years represented the Armour
interests east of Buffalo, including NeW-tnSlahd
with HEADQUARTERS at New-York City. has resigned
his position as general manager Of Armour & Co.
in order to identify himself with the DE Forest
Wireless Telegraph system He was elected one
of the presidents of the De Forest wireless
Telegraph Company (parent company and treasurer
of the American De Forest Wireless Telegraph
Company at meetings held Yesterday oS theSe Cum
panies.
WABASH.-Deangs in Wabash issues included
heavy purchases by George z. Butler 4 Bros,
recognized as Ciou;d brokers Wabash debenure
Il bones advanced l point dealings in par value
of 81 423oco Reports that tho Pennsylvania had
secured control Of the Wabash We're circulated
Wabash earnings for the third week in February
show an increase of $13,S11 over the same week
last year ma king from July gain of $Sts,6S1
CURRENCY FOR CHICAGO-Local banks re-
ceived calls Yesterday for the shipment of several
millions of dollars Chicago. and $50o,0oo was
transferred through the Suh-Treasury Chicago
exchange New-York was 80 cents discount. IT
was reported in Wall Street that the demand re
hected land speculation in the West, in which sew
eral Chicago banks have become involved.
NATIONAL. CARBON REPORTING report o.
the National Carbon Company for the year ended
January u shows net earnings of S594372. an in
crease of 1850 and balance after preferred
dividends of $297S72. Surplus after depreciation
and doubtful accounts S227S4, decrease Of
SS1 .335 from 1901.
DENVER AND SOUTIIWESTERN.-Ea Earnings
of the Denver and Southwestern for the year
ended November 80 showed decrease in gross
earnings of $76036S and decrease in net of S9lS.-
5sS After charges there a deficit of Si29oSi.
against a surplus in 1901 of $2642i9.
UNITED STATES LEATHER.-A the meeting
of the United States Leather Company directors
Yesterday the usual quarterly dividend of ~ per
cent was declared the preferred stock. No
action was taken the back dividends the
preferred.
OFFERS TO NNESTORS-Redmond. Kerr q
CO.. Of this city and Chicago. and Graham, Kerr &
Co OF Philadelphia. offer to investors at 102la and
accrued interest. subject to sale or advance in
price without notice. St. Joseph Railway Light,
Heat and Power Company first mortgage per cent
thrty-five years gold bonds. In letter from the
president of the company to the bankers it is
stated that the company has acquired the St. Jo-
seph Traction and Lighting Company, People 5
Railway Light and Power Company Citizens Rail-
way Company. Union Railway Company st. Joseph
and Lake Railway Company and Wyatt Park Rail
way Company, which torm the entire street rail
way of st. Joseph comprising about forty miles of
trolley line and the entire commercial electric
lighting and power business of the city. The first
mortgage per cent gold bonds a first and only
lien on the entire property of the company now
owned or hereafter acquired. The company is now
paying dividends its preferred stock at the rate
o > per cent per annum. Lawrence Barnum & Co..
bankers. of NeWYoGk. offer to investors $1,000 6kl
first mortgage per cent gold hondS of the Grand
Rapids. Grand Haven and Muskegon Railway
Ra pds Mich and Grand Haven and Aiuskegon.
Mich. serving population of 10000 The West
inghouse Company controls this property by owner
ship o 80 per cent of Its capital stock The Stand
ard Trust Company. of NewYork, is trustee for
the mortgage