New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-24
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
% 600 shares in the local market mostly purchases
In London the mining stocks were strong ana TIE
adjustment of the settlement in them was pro-
ceeding satisfactorily. Consols showed a fTac-
tional gain of SS7s but the copper stocks were
inclined to sell off A small private bank failure
was announced in London, but was no market lac
tor Money was a trile fTmer in the open market
in London but presented no feature elsewhere ana
exchange quotations were unchanged. The tone
Of the market generally was confident and cheer
flIl.
BROOKLYN RAPID TRANsIT.-The strength in
BROOKLYN Rapid Transit due to buying, induced
by the decision of the Rapid Transit Commission
10 grant the company the privilege OF operating
rs cars over the new Williamsburg Bridge. The
privilege will include the right to construct tracks
along Delancey-st. through the new street now
being cut by the city, from the Bowery 20 Elm
ST. connecting Elm-st. with the rapid transit
subway. This privilege appears 10 nave Deeh
granted without apparent opposition from the Met
ropolitan company. and this fact appealed to wall
Street as an indication of control OF New
York and Brooklyn street transportation companies
UNITED STATES STEEL--A steel authority
states that the dividend on Steel preferred stock
cannot be reduced to per cent while the Steel
CORPORATION is carrying the conversion or s'otO
O0a OF preferred stock into like amount of bonds
without ieopardizins It. Holders of either common
or preferred shares. he states. would have ground
for action against the corporation for exchanging
a contingent liability of per cent dividends on
S0GJOO00 of preferred stock for fixed liability OF
per cent on 100000 Of bonds
CORN PRODUCTs.-Thera was free selling of
Corn Products yesterday. The selling was due 10
news Of new competition in the business. The
Warner Sugar Refining Company, whose plant is
at Waukegan. H. yesterday for the first
time offering its goods on the market. This plant
has daily capacity Of 2o020 bushels. but 1t VIII
be some time before its maximum production Will
10 q
competition into business. friends of the Corn
Products Company not inclined TO give the
new venture more than passing attention. The
Corn Products Company, they say. has developed
its business to such extent that the profits arts
ing from the sales OF its by-products alone are
sufficient to pay all charges and maintain the stock
uEora Ter cent basis.
ATCHISON.-Pres;dent L. F. Ripley of the
Atchson. who has just returned from the Pacific
Coast is quoted follows regarding the com
panys outlook tor business:
California is going to have largest fruit crop
iikely aggregate a yield Of 5000 carloads which
means a big thing for the railroads. particularly
handle all OF it's traffic in its own cars The en-
tire Coast country is PROSPEROUS ana business does
the East whera the community has undergone a
is not alone Of good promise in California. We
have mad bountiful grain crops and everything IS
prosperous enough elsewhere.
CHATTANOOGA AND LOUISNILLE.-A sharp
advance in Chattanooga and the strength in louis
Vile especially as the buying seemed well in
formed were taken to indicate that the dividend
on the former might he expected in the early
future AS the road is earning something like 10
per cent. a liberal Payment does not seem out Of
the way
MOVEMENT OF MONEY.-The gold received
from Europe on Saturday will obviously figure all
through this weeks bank averages. The banks
on Saturday $136Coo and since Friday lost $685.
90 which compares with gain in the previous
week OF $3.50 The Sub-Treasury was a debtor at
the Clearing House yesterday morning for Si9j.532