New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-06
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
5000 shares in the local market. mostly sales of
the steel issues The London market presented
little of interest The copper stocks were lower
and the mining market rather inclined to sell
off. Trading was light in all departments. Money
was easier in Berlin but exchange there was easier
also and there feature in money markets
elsewhere. The Bank of England did not change
its rate and made a rather weak return showing
lower proportion of reserve to liabilities and a
heavy loss of bullion the week.
CURRENCY SHIPMENTS.-The banks lost
Wednesday to the Sub-Treasaury s.6S7.00, ana since
Friday -four days Operations) they lost S515S.cc0
against n loss in the preceding week five daysD- of
$526OOO0. In addition. there transferred yester-
day 100000. of which s250G00 was forwarded 10 St
Louis a similar amount to New-Orleans and 100000
to Chicago. Domestic exchange on New-York at
St. Louis shows increase in the discount to zoe
per 81 eco The discount on New-York exchange at
Chicago is Csc.
REFINED SUGAR.-The lowering of list prices
of refined sugar by the American and Howell
points does not change the selling basis the net
price of granulated is unchanged, the special con-
cession of points having been withdrawn. De-
mand for refined sugar is moderate. The position of
the raw sugar market is unchanged, with rehners
and sellers Indifferent about operating at the mo-
ment.
AMERICAN COTTON OIL.-The dividend of per
cent declared on the common stock by the directors
of the American Cotton Oil Company compares with
per cent declared at this time year ago. per
cent in 1901 312 per cent in 1900 and per cent in
1t is stated authority that the surplus
iIgs of the American Cotton Oil Company during
the fiscal year ended August g.. 1903. after paying
Interest bonds and the full per dividend
the preferred stock. equal To upward of
$4,000. or approximately. ~ per cent. the
common stock.
CONSOLIDATED LAKE sUPERIOR-A repre-
sentative of the Consolidated Lake Superior re-
organization committee is quoted as saying that
s6.700OO0 has been subscribed or promised toward
the underwriting and that very substantially more
than one-quarter Of the stock has paid the So
sessment A considerable part of the S. 100000 sub
scribed or promised is said to be conditional upon
the securing of the whole of the 81 100000 The
feeling among the members of the committee is
said. however, to be sanguine.
MANHATTAN ELEVATED.-There has been
good Boston investment buying of Manhattan
Elevated of possibly influenced by the fact that
Boston is represented on the Manhattan board of d.
rectors. and the stock known to be earning CON
siderable in excess of the per guaranteed by
the Interborough company. The Manhattan is now
earning sufficient above its per cent dividends to
pay the interest on the 100000 bonds issued to
pay for the building of the New-York subway so
that all subway earnings go to the Inter-
borough stock.
UNITED STATES STEEL DIvIDEND-There
sale of the March dividend on 500 shares Of
United States Steel common 10 cents a share or
AT the rate OF siX-tenths of 1 cent d year. 1t
intended. of course. to convey the idea that
the March dividend viii be passed
SOUTHERN RAILWAYS BIG GAIN-Earnings
of the Southern Railway for the last week in octo-
Der show an increase of $125,616. making for the
month a gain of S219.S0S and from July / a gain of
SLO6S2l5. For September gross earnings increased
$500 and net earnings S65. O51 Net earnings from
July increased s2S74lS Mobile and Ohio owned
by the Southern, gained in earnings in Septenl-
Der 5000
ATCHISON'S FRUIT MOVEMENT.-Atchison
officers figure that they will seventy thousand
carloads of fruit from California in addition to
what has already been moved. They say earnings
viii be largely in excess of last year.
COFFEE EXCHANGE SEATS HIGHER-Two
membership seats in the New-York Coffee En-
change have been sold at S75O, which is the high
est price paid
ELECTED TRUSTEES.-At a meeting Of the
board OF trustees OF the Fifth Avenue Trust Com
pany yesterday Valentine p Snyder president of
the National Bank of Commerce. and Cecil ID
Landale second vice-pTcsident of the trust COM
pany. were elected members of the board TO fill the
vacancies created by the designations of August
Belmont and Frank Tilfcrd
ELECTED MEMBER.-Samuel A Walsh jr
has been elected member of the New-YorE Stock
Exchange.