New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-29
WALL STREET AND EXCHANGES.

In London British consols were firm, while the
Kaffir market unsettled Money was easier in
London and Berlin
STOCK LOAN QUOTATIONS-Loan quotations
were: Amalgamated Copper, Anaconda, American
Ice, Brooklyn Rapid Transit Erie common, Louis
vile and Nashville. Manhattan. Missouri Pacific,
Peoples Gas Reading first preferred Rock Island.
Southern Railway preferred, Southern Pacific,
Sugar, Tennessee Coal and Iron. United States
Steel common. United stltes Leather preferred.
Shelters common Republic Steel common. l and
IL per cent; Atchison common and preferred Bal
timore and Ohio common, Canadian Pacific Con-
soldated Gas Delaware and Hudson. Erie first
and second preferred. Norfolk and Western, Metro
politan Street Railway. Union Pacific common and
preferred. 1 per cent; New-York Central y per
cent; Pennsylvania. q per cent; st. Paul. a and
a per cent; United States Steel preferred q and
per cent Western Union. fiat; Smelters preferred
flat and 1855 per cent; Republic Steel preferred,
Pressed Car preferred, American Locomotive pre-
ferred. 1-256 per cent; Car Foundry common and
preferred. fiat.
NETWORK CITY BONDS.-Concernng a state
ment which appeared in Wall Street yesterday
that Mayor Mcclellan had signed ordinances pro-
vding the issue of $25OOOOO corporate stock of
the city of New-York Fisk & Robinson managers
of the City OF New-York Bond Syndicate say that
there is no likelihood Of any further issue of bonds
in the present year. the last sale of corporate stock
having provided the city with ample funds until
early next year. The ordinances providing for the
signed by the Mayor from time to time for i'm
provemerts. Under the law 1t is necessary to
authorize the issuance OF bonds before letting a
contract for Improvements. The bonds. however.
are issued only IS fast the work advances. Ten
million dollars OF the N2,5CoO00 referred TO is for
the construction OF the Manhattan Bridge. and the
expenditures for this Improvement viii extend
"a period Of from five to eight years,
BALTIMORE AND OHIO.-The termination OF
the lake strike will greatly benefit the Baltimore
and Ohio system. the coal tonnage OF which
amounts TO upward OF 10000 tons for lake ship
rnent in the season. The Improvement in the earn
ings Of the company's lines touching lake ports
should begin TO be reflected in the returns for
and continue until the close OF navigation. Coal
traffic the lake roads IS moving freely. and the
earnings OF all these lines expected to show
substantial increases. as compared with the
ings OF the last few months.
READINGS MAY Observation-Disclosures OF the
Reading system for the month of May show for all
companies decrease in net earnings. as compared
with the same month year ago. OF S465 9s5. Sur
plus for tho month $6So7O9. n decrease OF
Si5s25I from 1893 From July | to May 81 all COM
panes show in net earnings OF g. 5O5 1856
STOCK EXCHANGE SEAT SOLD FOR $1,000
II reported yesterday that the Stock Exchange
seat OF Philip London had been sold to Edward De-
witt Walsh for $1,000 Mr.. London Is one OF the
members whose telephone wires were recently re-
moved from the aoor by order OF the committee
Arrangements.
HEAVY DEALINGS IN PHOENIX STOCK.-For
the frat time in many weeks activity developed in
the shares OF the Phoenix Mining Company. trans
actions being made over range OF points The
stock closed at - cents share. a net gain OF
points. There news development affecting
tho property, but there reports the Street
Of heavy earnings. The par value Of the shares
is 81
sEABOARD AIR LINE.-It reported yester-
day on good authority that no dissolution of the
Nf,1 Af- IT,. 4-r1ef DO ftrT
the meeting 81 the directors # announced that
financial plan had been discussed
RECORD BREAKING DULNESS IN LOANS
The FIRST loan on the Stock Exchange yesterday
was not made until II clock, when $4,000 was put
our at Us per This is record for inactivity
for the first half OF the Stock Exchange sessions
for any day in the history OF Wall Street.
METROPOLITAN PRESENT EARNINGS
4 director of the Metropolitan Street Railway
Company saws. Although the earnings Of the COM
pauy for the year viii De- poor the present earn
iars aye enormous and il The present rate OF the
June lucreaee continues there will be scramble
10 buy this stock. which is at present largely
oycrsold'
NEW COTTON EXCHANGE MEMRERS.-At
meeting of the board Of managers of the New-York
Cotton Exchange yesterday the following were
elected members Of the exchange: Louis H. Fair
child of l.. IT, Farohd & Co. New-Oreans; John
H. Clayton. Of Newau & clayton Liverpool. Eng
land and julius r. Meyer. Of Havre. France.
TRUST COMPANY To REDUCE CAPITAL
Stockholders Of the Trust Company OF America
have voted to decrease the capitalization Of the
company from S2.50Co0 TO 100000
TO BE CLOSED sATURDAY.-The board Of
managers Of the New-York Produce Exqhange yes
terday granted the petition Of the members for Il
holiday on Saturday, July > The Stock Exchange
also viii be closed that day.
BANKING FIRM CfIANGES.-On account OF the
withdrawal of Henry ;. Kerr, who retires from
active business. the copartnership the we'll
known banking house of Redmond. Kerr & Co. of
New-York and Philadelphia, terminates on July l.
Henry s. Redmond, the senior member. continues
in business under the firm name Of Redmond & Co,
having as partners q. j. ThOmen who for many
years has been connected with leading banking
institutions in New-York and abroad; James c.
the pioneers in the development of Rock Island
Railway system, and William Il. Cross. formerly
a partner Of the firm of Morton Bliss & Co. and
more recently treasurer Of the Morton Trust Com
panv The offices OF the firm continue for
yncrlv. at No Al Wall-st. and the firm assumes all
letters Of credit and foreign accounts OF Redmond
Kerr & Co
SAMUEL SPENCER \ DIRECTOR
Spencer has been elected director of the Hanover
National Bank to ill a vacancy.
BIG -FOUR" REPORT.-The report of the Cleve-
land Cincinnati Chicago and st. Louis Railway
Company. known as the big Four" for the year
ending June 80 June earnings partly estimated
rives the gross earnings as $2l 07022i an increase
of S679 a. and operating expenses $6,72S14 an in
crease of 81 O5S 10 After payment OF fixed charges
and dividends there remained a surplus for the
year of $685. a decrease of $S9O6i6 as compared
with the preceding year
OUTSIDE SECURITIES.