New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-05
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
1900 shares. all sales, principally in the Steel
stocks. The market the other side has I'M
doubtedly been affected by the depression in the
mining and copper stocks, and a number OF Lon
don operators who had turned to the American
list on the idea that there should be some rally
after the long decline have become disheartened
and have sold out Consols were unchanged, and
there was no feature in money or exchange in any
of the European centres.
MARKET GOSSIP.-The weakness in United
States Steel preferred at the opening seemed to
be the direct result of pressure from traders
backed by little foreign selling and the crcum-
stantial report that Charles NJ Schwab would i'm
mediately sever his connection with the company
Consolidated Gas sold off on the announced new
issue of Sc 100000 stock, and the Street, as it
usually does now, paid more attention to the in
creased capitalization than to the rights on the
new stock. United States Realty was weak in
spite of the understanding that statement of the
position of the company of a highly favorable
character would be published in the course of the
afternoon. Pennsylvania held well anything
and materially helped by the June earnings
They effectuaIly disposed of stories recently cur
rent of decline in earnings Some unfavorabIe ru-
mors the quality of the winter wheat were cur
rent during the early decline in the grangers.
Atchison, however, seems to have been sold to a
standstill, and resists pressure very we'll From
the heavy selling of Steel common and preferred,
through Wassermann Brothers. Lee, Kretchmar
& Co., Pearl & Co. and Van Emburgh & After
bury. the inference drawn was that there was a
renewal of liquidation by Pittsburg holders. 1t
said also. on doubtful authority, that some
selling orders came from Saratoga. The best sup
port was given by Coster. Knapp & Co.. presum-
ably acting for the Morgan interest.
STOCK LOAN QUOTATIONS-Loan quotations
were: Amalgamated Copper, Anaconda, American
Ice, Atchison common and preferred, Brooklyn
Rapid Transit, Baltimore and Ohio common. Color
ado Fuel, Delaware and Hudson, Erie common
fret nd nd
Vile, Manhattan, Missouri Pacific, Norfolk and
Western, Metropolitan Street Railway, Peoples
Gas, Reading first preferred Rock Island, ST.
Paul Southern Railway preferred. Southern Pa
ci1c, Sugar, Tennessee Coal and Iron, Union
Pacific common and preferred United States
Steel common and preferred, United States Leather
preferred and Wabash preferred III per cent; Illinois
Central, per cent; New-York Central. z and per
cent; Canadian Pacific and Western Union fat
Pennsylvania, l and 11a per cent; United States
Realty common, fiat; preferred 1-64 per cent
CONSOLIDATED GAS NEW STOCK-Stock-
holders OF the Consolidated Gas Company will have
the privilege of subscribing stock which the
company purposes to issue at $50 to the extent of
per cent of their holdings In the official notice
to the stockholders the exact amount Of stock to
be issued is not specified. 1t is stated, however
that the authorized capital stock is $SOOC0OOO Of
which there is outstanding S72,917 759. Nine per
cent Of the latter amount would be, in round num-
bers, $6500,0G0. The object of the stock issue is
stated 10 be 10 meet the cost OF important improve
ments. The company is expanding a great deal
of money at Astoria upon large plant which it is
constructing to supply gas to all of Manhattan
Island. instead Of at present, supplying it from
scattered plants.
NO NETWORK CENTRAL NOTE ISSUE-A
member of the firm of ]. P Morgan & Co is quoted
as saying that there is truth in the report that
the New-York Central Railroad Company has sold
$50 100000 az per cent land notes bearing its ndorse
ment According to the report. the company OBJ
tanned 9712 for the notes, and they We're taken by
local capitalists The report also says that the
notes run from two to FIVE years. and are backed by
first mortgage all the land acquired for termi-
nails. 1t is also stated they were issued by the
New-York Central Realty Company and distributed
by ]. p Morgan & Co.
SUGAR MARKET CONDITIONS-The American
Sugar Refining Company and B. II. Howell Son &.
Co are booking orders for refined sugar only at full
list prices less the regular discounts. ArbuckIe
Brothers shading prices hut they say that they
may withdraw the concessions at any time The
entire market for both and refined sugar shows
a very firm undertone. with raws showing an up
ward trend.