New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-01-04
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses were not
active in the local market. dealing in less than
/! 0G0 shares evenly distributed.
TOBACCO COMPLAINTS ADMINISTRATORS In
the Consolidated Tobacco As, has been leading
feature in the bond market in the last week The
increased demand for this security is attributed to
better realization generally of the financial po-
sition of the company and its earning capacity.
The MANAGEMENT has declared a cash dividend Of
20 per cent. and its ability to distribute lump
sum of this size for special period and still have
big surplus. clearly shows that the earnings of
the company have been much greater than any
one outside of the company realized The issue of
80 coo additional stock for cash at will bring
80 100000 into the company's treasury. and
will add materially to the intrinsic value of the
per cent bonds The business of both the Ameri-
and Continental companies and of all their
subsidiary companies is increasing at rapid rate
For some time both the American and Continental
companies have been paying dividends their
common stock at the rate of 10 per cent a year 1t
is safe to say that dividends would not have been
begun at this rate if the management had not been
certain that they could be paid. The payments of
these dividends. practically all of which go into
the treasury of the CONSOLIDATED Tobacco Company.
and the rapid development of the business OF all
of the companies. make the question of the
Consolidated company to meet the interest its
bonds unbeatable
IRON PROSPERITY OF THE SOUTH-The
Tennessee Coal and Iron Company has filled prac-
ttCay all of its lower priced contracts for iron
and is working contracts at much higher
level of value. The difference is sufficient, it
competently estimated. TO double the profits of the
company compared with three months ago. The
company's books. it is understood filed
with highly profitable contracts which will keep it's
various plants in full operation for long time to
There is high authority or'saying that the
company is in a strong position financially and its
cash surplus is accommodating at rapid rate 1t
believed that the company is earning at least
Il per cent on it's common stock.
INTERNATIONAL PUMP RIGHTS. Refer
ring the advertisement of the Interna tional
Steam Pump Company, dated December 81 1892 TO
stockholders the committee securities of the
Stock Exchange rules that all transactions made
in the preferred and common stocks of said
pany on Monday, January 5, except for cash. will
be rights Certificates of stock delivered after
January for contracts made prior thereto for
cash sales made January ). must be M
panied by an assignment of rights or due bill
for the same. Sales CT rights made on and after
January ; except transactions made specifically for
cash, must be settled January :. which day
all due bills must be redeemed The committee is
officially advised that. Notwithstanding the terms
of the advertisement. the right to subscribe may
be exercised TO and including January
THE COTTON NEUTRALITY-SUSPICIOUS. 10 The
Financial Chronicle the total receipts of cotton
for the week ending January 2 reached 24s.sl9
bales against 2750l5 last week and go $50 the pre-
vous week. making the total receipts since Sep
TENDER 1882 49l6,673 bales against 1891 1913 for
the same period of 19O1-'02. showing an increase
since September l. 1902, of 25.lS0 bales
THE PUBLIC DEBT STATEMENT-The month
y statement OF the public debt by the Treas
ury Department, shows that at the close OF bust
ness January the debt less cash in the Treasury
amounted to s947 64 679 which is decrease of $40
49,, 6o2 since November 80 Recapitualted the debt
stands: Interest bearing debt ss145E. 2i0 debt on
which interest has ceased 81 90 no. debt bearing no
interest s3s5u7l2o; total debt. S.3l1.5fo7o. This