New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-08
MINING STOCKS.
WALL STREET AND EXCHANGES

FOREIGN TRADING.-Foreign houses dealt IN
upward OF 5000 shares IN the local market. selling
on balance. In London British Consols were
strong; also Russian As while japanese bonds vera
fractionaIly lower. The general market was hrm
In Paris the price OF sterling exchange advanced to
% francs IS confines These rates make further
exports OF gold from New-YOrx to Paris out OF the
question for the present
STOCK LOAN QUOTATIONS.-Loan quotations
were: Amalgamated Copper. Anaconda. American
lee Brooklyn Rapid Transit Erie common first
and second preferred Louisville and Nashville.
Manhattan Missouri Pacific, PEOPLES Gas, Reading
arst preferred Rock Island. Southern halfway pre-
ferred Southern Pacific. Sugar. Tennessee Coal and
Iron United States Steel common. United states
Leather preferred. Wabash preferred Snneltsrs
common and Republic Steel common. 191-a per
cent: Atchison common and preferred. BaIunore
and Ohio common. Canadian Pacific. Consohdatsd
Gas Delaware and Hudson. Norfolk and western,
Metropolitan Street Railway and Union Paeiho
common and preferred. I per cent; 81. Paul ana
United States Steel preferred S41 per cent; New
York Central n per cent: Pennsylvania 2 per cent;
Republic Steel preferred American LoconnouVs
preferred and Pressed Car preferred. 15S per cents
Smelters preferred. nat ana Low Per Sel'' anu
Western Union fat.
MARGINS AND COTTON COFaNERS-rne foi'
lowing letter has been received from W. F. Dana,
~ this CITY: Referring TO the recent corner IN
cotton and the evil results. mostly occasloned oy
what "a known as margins and the resultant
high price TO which the commodity was FORCED. Z
law existed BY which only actual owners OK me
article could take profit out or the advance IN
the price would not the incentive Tor speculaSan
be removed? In all stock or commodity trsons
where A margin is put and pronr taken 1ron
slight advance. the Spectator gets the proHt "heA
he does not own the article Granted tnar tns
idea of margining implies the maj rshS 20 ac'
,rire the question follows: What per cent or saca
,-o,sac+tors are consurnmatedP II 1t required ths
actual purchase the article in toto. IN order 70
set the profit arising from the advance there would
h. little or no incentive TO speculate. and henes
fAvver cornars by which the food and other prod
80 ~ rha soil could be iuggIed by unscrupuous
,,.gers 10 the great injury OF the people at 4aTss
READINGS ANNUAL MEEzTING.-Ihe annua!
,nseting Of the Reading company was held IN Hh1-
sdelphia yesterday. and the following directors
were reelected. G. T. Baer. John LoWoer Wslsh.
E = Stotesbury Henry A Dupont. Henry r NC
Kear Samuel Dickson Charles Steele. Josspn >
Harris and H Mex. rwombly. The directors VIII
meet June Is for the election Of officers.
NEW LAKE SUPERIOR COMPANY-A meeting
Of the Lake Superior Corporation. the successor to
the Consolidated Lake Superior Company. VIII De
held to-day at the offices of the Corporation truss
Company. in Jersey City. Az this meeting the or
ganization OF the corporation will be completed
and the new officers formally elected \ meeting
OF the temporary officers was held yesterday, anu
the ticket which will be elected to-day was de-
cided
PENNSYLvANIAS STOCKHOLDERS MEET
ING.-The annual meeting Of the stockholders OF
the PENNSYLVANIA company was held yesterday N
Pittsburg. The report for the last year was SUD
nlitted and the old board OF directors was re-
elected. The directors Will meet in PhiadsPnls 70
day for the election OF officers.
CHICAGO GREAT wESTERN.-Chicago Great
Western issues not pressed for sale as on ths
preceding day the declaration Of the senli-annuai
dividend the debenture stock and assurances
from officers Of the company that the road Is nnan-
cially sound helping these securities 1t 10 gan
orally understood that the decline IN the preferred
A stock in Mondays market was due entirely 70
an attack by professional operators.
PRICE OF OIL REDUCED--The Standard OH
Company yesterday made another cut in he price
OF all grades OF oil except Raslard- The quota
tons follow: Pennsylvania. 159; Tiona La; Corn
ing LS9; Newcastle. L46; Cabeu. 1884, North Lima.
III: South Lima 1.0S; Indiana l0S, Somerset. lAi
RagIand sc, Refined petroleum declined 70 points
This is the first change in the price since the latts
part of April Quota tons are now on the basis OF
SO5c for barrels. New-York loading. and Sc. Phil
adelphia loading.
TALK OF NEW CUBAN BOND ISSUE.-A
member OF the firm of Speyer & Co. said yessa-
day that his firm had statement to mako with
respect to the dispatch from Havana regarding the
new loan by that country. and adding that Spsyer
& Co might finance It, Speyer & Co made a
splendid success of the recent Cuban bond ISSUE
and If the Arm decides 10 finance another issue it
may be taken for granttd that its work viii Ss
equally successful.
UNITED STATES TRUST COMPANY ANNUAL
MEETING-At the annual meeting OF the stock
holders OF the United States Trust Company ~
terday the eight retiring directors reelected
for the ensuing three years. With this excePoon
only routine business was transacted
SCHWABS OUT OF NICKEL COMPANY.-It -
reported that Charles NJ Schwab and his brother,
Joseph L. Schwab. who were among the larsssI
holders OF the securities OF the International Nls
Company, have disposed of their stock IN thal
company to q syndicate.
CHICAGO BONDS OFFERED.-N. W Harris =
20. offering to investors $4,000 city or o.,
1s07-'24