New-York tribune., 1903-07-31
WALL STREET AND EXCHANGES,

FOREIGN TRADING-Foreign houses dealt in
10000 shares in the local market, mostly sales.
American stocks in London idle, with trifing
transactions in the usually active stocks. The gen.
eral market steady without feature, but con-
soils showed further gain of Is per cent at 919s
The Berlin boerse was firm but money was trife
SITTER there. Paris exchange on London was a
little harder. The Bank of England did not change
its but made fairly strong return in spite of
a substantial loss OF bullion the week.
STOCK LOAN QUOTATIONs,-Loan quotations
were: Amalgamated Copper, Anaconda, American
Ice. Atchson common and preferred. Brooklyn
Rapid Transit Baltimore and Ohio common, Colo
rado Fuel Delaware and Hudson, Erie common.
first and second preferred; Louisville and Nash
Vile Manhattan, Missouri Pacific. Norfolk and
Western Metropolitan Street Railway. Pennsylva-
MIA, Peoples Gas, Reading first preferred Rock
Island. St Paul Southern Railway preferred
Southern Pacific, Sugar, Tennessee Coal and Iron
Union Pacific common and preferred, United States
Steel common and preferred, United States Leather
preferred, Wabash preferred, per cent; Canadian
Pacific and Western Union, fat; New-York Cen
trail per cent; Pennsylvania. IL per cent.
MARKET GOSSIP.-The selling Of Atchison by
some Western interests gave point to the report
that it was some such weak account that the trad
ers were going for. United States Steel held we'll
in spite of the reported weakness in foundry iron
Both the common and preferred seemed TO have
been sold to standstill. and the latter issue in
particular has lately been picked up by people who
were anything but admirers of the corporation at
the time when Mr.. Keene was intrusted with the
distribution of the stock The selling in NewYork
Central seemed to be good, and the question of
the necessary financing looks likely to come to the
front again The pool in Virginia Carolina Chemi-
cal and United States Realty were under close
scrutiny and their members probably had to nqui-
date to protect themselves. Keech, Loew Co.
and Coster, Knapp & Co both seemed to have
good deal of the United States Steel common to
get rid of in the day. The selling naturally
considered good. but the market did take it
badly. The raid on Atchison extended to Rock
Island in the second hour, and traders generally
were operating on the short side Of the market
The selling for London about the most genu-
inc pressure, and Influenced the market where the
professional efforts would not have had much eff
feet. Rock Island was hammered by the traders
on the revival of the story of blanket mortgage
covering the system and the recent purchases. and
although there was nothing new in the report
traders on the short side found it useful
UNITED STATES STEEL-The ninth dividend
of s. 70 share the preferred stock of the United
states Steel Corporation payable August Is, will
go to "a 93S shareholders This is slight increase
over the number of preferred shareholders the last
quarter which exceeded 34,OO. and demonstrates
that the recent heavy decline in the market value
Of the preferred has induced investment buying by
small holders The present strong tone Of the steel
stocks is credited in part to syndicate support but
chiefly TO completion of large enforced lquida ton
by large holders in Pittsburg and New-York. whose
selling Of large blocks Of stock feature Of
the decline Recent reports from heads Of sub
sdiary companies to the steel corporation show no
appreciable letup in production curtailnent of
orders The net earnings for the month &C July
are expected to reach S12 0O00 or within S4 900 OF
the net earnings for July. 1902 one Of the banner
months in the corporations history. August and
September contracts call for continued large out
put although the congestion at lake ports may
cause a falling off in the amount of ore reaching
the furnaces The demand for steel rails continues
at rate in excess of the ability OF the corporation
TO supply. This Will hold good until March 1904 at
the shortest. No concessions OF Importance have
been made in selling prices but the coming season
now half over may induce slight changes in sheets
and plates.
NEW MEMBERSHIPS following have been
elected to membership in the New-York Stock Ex-
change: William A. Mertens OF L. Won Hoffman,
& Co Howland Peu- Haggerty, No. WaI-st .
James c. Converse, No. 70 WalI-sti and John p
Grier Bartlett. Frazier & Co. No. WaII-st
ERIES NEW AGENT.-The Erie Railroad an
nounces that H. E Huntington has been appointed
division passenger agent for the road with office
at Elmira, vice W. c. MacEdward. resigned
DISCRIMINATING IN LOANS-"The Wall
Street Journal" quotes active broker in the
Stock Exchange as follows.
Houses in good standing are having no trouble
getting all the money they need Indeed the banks
are discovering that there is almost a rush to pay
or loans rather than 10 increase them Ten
months money is offered at low 81. per cent
and there is good deal offering al that rate
There number of weak houses which are
having trouble in getting accommodations at pre-
vsing rates because the collateral they offer is