New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-06-04
415O Total sales.
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-FoTeign houses dSelt III
50 600 shares in the local market, buying on BAL
snca In London the copper stocks we're notice
ablv strong Consols were unchanged. ex diV1-
dend The general market was featureless ana
rather Inactive. Money was easier in London ana
Berlin. and Parts exchange continued at point
where gold shipments were possible
STOCK LOAN QUOTATIONS--Loan quotations
were: Annals amated Copper Anaconda. American
Ice Atchison common and preferred, Brooklyn
Rapid Transit. Baltimore and OHIO common Ool-
orado Fuel Delaware and Hudson. Erie common
first and second preferred. Louisville and NASHVILLE
Manhattan Missouri Pacific. New-York Central,
Norfolk and Western. Metropolitan Street Rail
way. Pennsylvania. Peoples Gas. Reading hrst
preferred Rock Island. St Paul, Southern Railway
preferred. Southern Paoifc Sugar. Tennessee Coal
and Iron Union Pacific common and preferred,
United States Steel common and preferred. United
States Leather preferred. Wabash preferred. West
ern Union ~ per cent. and Canadiln Pacific per
cent.
THE. BOND MARKET.-y1sk & Robinson say
in their Monthly Bulletin Of Investments
The decline in the railroad bond market has
prices Of stocks Doubtless. in addition TO the
forced Lqudatoa IN such SaaT5s I4eTe a a7 I Sp
securities representing equities and reinVestrnent
9 st n9ag 7gTs l have 1 tended 70 sustain
prices Of high class railroad issues: We do not
future. but with favorable conditions in the
money market anticipate continued absorption OF
high grade investment BONDS
HOOKING VALLEY-Hocking valley issues
showed strength on the apparently well founded
belief that the reorganization plans were com
peted and merely waiting for more favorable mar
ket conditions before the official announcement
col,Id be made Opinion seems TO be divided on the
ro5-+ nj me future ownership but a joint Penn
OBSERVATION-DISCLOSURES control still appears 20 be the
most likely
Pennsylvania DECLINE. - Pennsylvania
shares sold down 12513 in the last half hour on
heavy selling The raid on the stock was little
100 spectacular TO be convincing. Selling orders
IN 10 go shares we're intrusted to Probst, Wetzler
& Co Clark Dodge & Co took 5000 shares and
there seemed 20 be a covering movement in the
rest Of the market at about the same time This
was probably the object of the selling.
DETROIT AND MACKISAC-Directors OF the
Detroit and Mackinac have declared dividend Of
% per cent on the preferred stock, payable July L
This IS the initial dividend the stock. The net
earnings for the six months ending June so. with
Nav and June estimated. are $4,000 while the div
tdend declared will require $23 80.
PEOPLES GAS EARNINGS-Those close 10 the
Peoples Gas. Light and Coke Company say the
earnings for the first FIVE months Of the current
year have shown a substantial gain over the cor
resDording period last year Labor troubles which
have occurred at intervals during the year have
had little or no effect on earnings It was pointed
f,,,+ Yesterday BY prominent broker that the
cent break in prices was due 10 market conditions.
and that the accumulation OF stock around par and
under has been significant He predicts that with
the slightest Improvement in the market prices
the stock will be raised considerably.
HEAVY ANTHRACITE OUTPUT The esti-
mated oUtput OF anthracite coal in Nay. amount
ing to $4,000 tons. approaches the production in
January. which showed the largest amount Of n
thracite coal mined in any one month in the his
tory Of the industry.
ROSTON FIRMS NEW OFFTCE-The well
known Boston banking house OF E. H Gay & Co.
has opened its new banking rooms occupying the
ground floor Of the Congress Trust Building. No. %
Congress-st-. Boston. The new Offices embrace all
the ideas and comforts Of modern banking house.
and reflect the growth and prosperity or solid
tanking business
CHANGES IN MERCANTILE AND EQUI-
TABLE TRUST COMPANIES.-Alvin w Krech
vice-president Of the Mercantile Trust Company
was yesterday elected president Of the Equitable
Trust Com any. to succeed William I. Cornell re-
signed Mr.. Krech first came into prominence in
New-York financial circles by his reorganization
Of the Union Pacific, Baltimore and Ohio. Wheel
ing and Lake Erie and othsr railroads and CORPORA
tons He became connected with the Mercantile
Trust Company in 1896, and elected vice-presi-
dent IN 1898 The Equitable Trust Company OF
which Mr.. Krech row becomes president. is one of
the largest institutions OF its kind IN the country
and IL is generally understood that II is affiliated
with the Equitable Life Assurance Society. James
H Hyde vice president Of the Equitable Life As
surance of the United States. elected vice
president OF the Mercantile Trust Company to sue
coed Mr. Krech al q meeting Of the Mercantile
Trust Company.
IN Opposition TO REORGANIZATION csns-
tave Loeb Of No 20 Newest, representing bolser-
OF z large block of first mortgage bonds OF the
United states shipbuilding Company. will II Is
announced, issue to-day a circular in opposition
10 the proposition OF the reorganization cornirtas
that the first mortgage bonds be exchanged for
new preferred stock. II was said yesterday that
Of the Sl4 100000 first mortgage bonds Outstanding
only $4,000 have gone into the hands OF investors
SOLD At AUCTION AT ss5 SHARE-Threa
81 Trstaf nf