New-York tribune., 1903-03-27
WALL STREET AND EXCHANGES.

PopEIc.> TRApING-Foreign houses dealt in
5000 shares in the local market, mostly purchases
Consos did not hold their preceding DAY IdllS' :
and at 9OIs were within Il of the lowest point
touched while copper stocks were weak, ana the
foreign market showed traces OF pressure cspe-
cialIy in the case Of Spanish bonds The American
list was all lower, with New-YOrk selling OF South-
ern Pacific very apparent. The Bank OF England
rata v,ss unchanged and the return had no feature
of interest. Paris exchange on London was a trlhe
easier.
STOCK LOAN QUOTATIONs.-TDoan quotations
were: Amalgamated Copper. Anaconda, American
lee Atchtson common and preferred. Brooklyn
Rapid Transit and baltimore and Ohio common D
per cent Canadian Pacific, 5i2 per cent Colorauo
Fuel. Delaware and Hudson Erie common, nrst
and second preferred Louisville and Nashville.
Manhattan Missouri Pacific. New-York Central
and Norfolk and Western per cent; metropolitan
Street Railway, 5la per cent; Peoples Gas Reading
first preferred Republic Steel common and pre-
ferred Rock Island. St. Paul and Southern Rail-
way preferred, per cent; Southern Pacific. fiat;
Sugar Tennessee Coal and Iron, Union PaCihc
common and preferred. United States Steel COM
mon and preferred. United States Leather pre-
ferred Wabash preferred and Western Union, 8
per cent.
AMERICAN IOCOMOTIVE.-The American Lo-
comotve Company reports for the nine months
ending March 81 gross earnings of $2956345. an in
crease of 81 $50 6O7 over the same period year
President Galloway made the following statement:
Since the organization Of the company; in June,
1901 more than 100000 has been expended in the
erection of new buildings and the purchase Of new
crease of 81 per since the organization of the
the capacity of the plant by the purchase of prop
y new tools and nd is stfadg @ gans maf IN
receiving material. deliveries are being made sub
ta 94 for % anmGn ana IN NAVY hen th
Wth m the os last S wo @Foer M o b bee
plants Of the company, employing more than l6o"
men. running night ard day.
UNITED STATES STEEL DIVIDEND. - The
United States Steel Corporation will pay it's seventh
dividend of per the common stock March
so. and checks for the total amount aggregatlng
more than S5.OOO,OO0 arc ready to he mailed. They
will go to over 1000 holders OF common stock.
When the first dividend was paid on the common
stock September a. 1901. there the books
of the corporation 1898 common shareholders The
fact that there now approximately 27.m0 names
the books shows that the number of persons
owning stock Of the corporation has in
creased than 14,0NO i'll eighteen months. In
other words the common stock shareholders have
than doubled in number since the stock was
placed on a 4 per cent dividend basis The fact
that the stock is selling below 40 with the corpora
ton earning in excess of 10 per cent on 1t, shows
q market anomaly when compared with
dividend stocks selling higher than United States
Steel common.
PENNSYLVANIA RTGHTS.-The heaviest selling
of Pennsylvania Railroad stock at the Stock Ex-
change in the forenoon was by H. Y Lester but
there were many other sales against rights. which
create a technical short interest bound exist
until the new stock is wholly paid for next summer
Trading in the rights began at AS per cent. but
their value diminished slightly because the heavy
selling Of the stock weakened its price. At
stock dividend stands the buyer at i31. He may
subscribe for stock 10 the extent of one
third Of his holdings. but onefourth of this whole
amount only costs him 120. the subscription
price. The value Of the rights. therefore. is
one fourth of the Il per cent difference. which
works out at exactly Al per cent. At 1E there
was a value the rights Of Az per cent At 1S9
cof shn {oT,t n
NEW EXCHANGE MEMBER.-sanlueI G. Hen
ming has been elected member Of the Ncv-York
Stock Exchange