New-York tribune., 1903-03-22
WALL STREET AND EXCHANGES.

FOREIGN TRADINC-Foreign houses dealt In
only a few shares in the local market The vol
un,e of trading in American stocks in London was
light. and the changes we're not OF considerable
Importance AS a rule. the active issues were
rather below parity, with New-l"rk selling arp
parent in cases. notably Southern Pa'.h'.
Consols were unchanged and copper stocks rather
easier.
ERIE HOIDINGS-Accor1ing to The Wall
Street Journal" the belief IS firmly held IN we'll
Informed circles that the holdings Of the con-
trolling interest in Erie have undergone an I'M
Dortant change within the last few months. EaN-
ing been largely changed into the preferred stock
from the common. Fly making this change tho
interests in control obtain an immediate return on
their investment far as the first prefTrreH ]s
concerned. with some prospect Of return on the
second preferred within the next few years. H. In
order to retain control. 1t should at any time he
necessary TO purchase additional stock. this nCht
be done by buying common, which could h" had
for corTa ratively little money. This condition ot
affairs may tend to make tho preferred stocks
widen their difference in price from the common
on account Of their relative scarcity. Tho volume
Of business now sight ins'lres large earnings for
Erie for months 70 whe the relatively lower
operating cost which has been characteristics or
the last few months should tend to make net earn
ings show up in very good shape. The i"iicf that.
with the extra facilities provided for. Fries
business is ca7abIe Of consdc raho DEVELOPMENT IS
we'll founded and IS not unlikely to have some
sentimental effect from time To time,
C3rev's Sugar Trade Journal says The fact that
ronncrs bought raw sugars freely IN anticipation
Of the passage Of the Cuban treaty has placed plant
ers temporarily at disadvantage but with tttI"
patience II is to expected that they will set more
money for their sugars than II they forced them 10
@ sale IN the present nverhought market. y few
nartes however were obliged to accept l-32' redu"-
tion in price while The close full l-6o per pound
Is asked for by rehners. and will no DOUBT h Oh
tained on the rcyt purchases. Receipts continue
to- coPr
have incrcas sed to 173457 tons against 1'9i59 tons
at this time last year There IS but little change
in the situation of the refined sugar market Prices
are fairly we'll maintained by all re1neTs with
occasional exceptions of cents per 100 pounds cut
rate with sorne buyers The refined trade continues
healthy with the prospect Of largely increased
business with the opening Of spring trade
COLORADO AND SOUTHEKN.-There IS no spe-
cial DEVELOPMENT to account for the activity in
Colorado Southern other than the large volume
of business and the outlook for continuance Of
prosuerous conditions. The Hawley interests. VIII"
purchased control n year ago. are Of the opinion
that the development Of business since jhat time
and the recognition of the strategic position Of
the property amply Justify their acquisition Of
the railroad
UNITED STATES STEEI,-Tho United States
Steel Corporation has approximately 62nH share
holders OF the total number 5000 are pro
ferred shareholders and q go holders Of the com
mon stock This Is increase Of 800 within three
months. with the Increase approximately divided
into 1900 preferred and 800 common shareholders
If the present rate of increase Is maintained the
total number Of United States Steel shareholders
will within two years reach 1H0.00, which Is the
ma xtrur figure predicted by official OF the Steel
Corporation.
BANK CI.EARINis-The total bank "l"arings
Of all the clearing houses of the United States for
the week ending March 81 $2Gs3 isS5Si, against
81 $50 sos. .63 in the preceding week and $2Go55625
the corresponding week last year
ILLINOIS CENTRAL BONDS SOLD IN LON
DON-The Illinois Central Railroad has sold in
London at par and interest S3Ooo.0O0 gold 81. per
bonds OF 1851 which are a continuation Of the
drst mortgage per cent sterling bonds which ma