New-York tribune., 1903-03-13
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
o00G0 shares in the local market mostly sales Al
though the Bank of England did not change Its
rate 1t made a fairly strong return, and the gen
eral market showed firrner tone. Consois made a
further rally Of S-16 to 91lz. Money was IN good
demand in all the European centres. and Paris
exchange London continued to show consp1cu-
Gus strength.
STOCK LOAN QUOTATIONS.-Loan quotations
were: Aralgamated Copper, Anaconda. American
Ice. Atchison common and preferred, Brooklyn
Rapid Transit. Baltimore and Ohio common, Cana
dian Pacific Colorado Fuel, Delaware and Hudson.
Erie common first and second preferred, Louisville
and Nashville. Manhattan, Missouri Pacific New
York Central, Metropolitan Street Railway. Nor
folk and Western, Peoples Gas. Reading hrst pre-
ferred. Rock Island ST. Paul, Southern Railway
preferred, Southern Pacific, Sugar, Tennessee coal
and Iron Union Pacific common, Union Pacific pre-
ferred United States Steel common and preferred
United States Leather preferred, Wabash preferred
and Western Union, 512 and per cent.
MARKET GOSSIP.-The market developed mar
rowing tendency, and traders were disposed to move
slowly pending developments in the Metropolitan
and Southern Pacific questions. There was evil
dence. however. of pressure in Union Pacinc' ana
It was said that the keene opposition to the Harrl-
man interests was backed by important railway ana
financial houses not favoraby disposed to the
Union Pacific people. There was good selling III
Metropolitan and despite the statements by the
conpany's management, Wall Street was not sat
sfed with the Metropolitan situation. The western
stood that large part of the short interest In ST
paul has been covered. The advancing tendency
in the price of copper helped Amalganated- Lon
don sold Southern and Union Pacific and the Erles
On the second hour rally stocks were oHereo
through houses trading for the Western element.
cupar Refining was weak. and sentiment was pear
isl, ON the stock Selling in New-York Central was
better than the buying Louisville Sho"eo d niue
strength. There is some reason for thihhHhs thd'
. hull nooI on basis of about $SOoo.000 has been
m
dend declaration The theory seems to be that tne
stock may then go a per cent basis and II IS
therefore hoped that there will be rising market
tn sell or in the early summer. There IS conslu-
erable foreign short interest In Southern Paclnc
created by sales of the stock to arrive Inc lot
aien houses are wary of selling any more stock at
nresent as there is keen demand for proxies. and
they have had some previous experience or an ar
titiciaI short interest created thereby
HEAVY SOUTHERN RAILWAY EARNlNHo.-
Earnings Of the Southern Railway continue 10
show marked increases over the CORRESPONDING
nerods in former years. and from all hulen'IoIi0
there will be no falling off in the volume OF 'railic
I'm the rest Of the current year. For the hrst week
i'm March eros:, earnings increased N5Z"l7' "aNIls
for +be fiscal wear TO date gain Of $29l2SjH. 'h-
der the able management of Mr. Spencer southern
RAILWAYS physical condition is steadily Improving
nd his handling Of the finances and traffic PROB
,,,e f this great system receives unstinted praise
.r,one peop1e who are competent to judge or the
actual position of American railways An eiiol-
-. mount oP money has been put into perIna-
mont improvements from surplus income above dlF-
;doud ren1irements, ard the effect or TINS PoilCS
&c reflected In the company's ability to handle a
volume of traffic that few years ago would nave
bee, nbyscallv impossihla. With its limited track
age facilities as compared with the Dig o"i"l'
and four track systems Of the North, the southern
Railway has accomplished Uondertul results !"
it's traffic department this year
COPPER II CENTS.-The United Metals Sell
,rc companv has made another advance "f "a
of A cent in copper prices. and is oHeFln6 II"
1alre conner below 10 cents Electrolytic is not
oHered below 1474 cents Castings are lax cents
A further advance in hrass sheets will be made
hv the manufacturers this week
OFFERS OF FOREIGN LOANs.-Money brokers
rerort that foreign lenders are offering six months
money freely at 5,2 per cent. Loans made on that
. basis UouId ma ture in the middle of September
when they probably could he renewed at still
higher figure.
REGULAR ST PAUL DIVIDENDS.-The Chi
caro Milwaukee and ST. Paul Railway Company
has declared the regular semi-anuual dividends Of
q. per cent on both its common and preferred
stocks payable April %. to stockholders of record
March %.
MONEY FOR NEW-ORLEANS.-There was de-
nosted at the Sub-Treasury yesterday $20o.00 for
transfer to New-Orleans. Total shipment this week
to New-Orleans $300,0W.
IOBN s KENNEDY ELECTED.-At a meeting
NJ the board of trustees Of the New-York Life
Insurance Company yesterday john S. Kennedy
was elected trustee of the company.
TWO DIRECTORS ELECTED.-Wam Il van
derbilt ir and F. Egerton Webb have been elected
directors of the Lincoln Safe Deposit Company.