New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-08-03
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
upward of $500 shares in the local market the
greater part OF which was purchases. In the Lon
don market British consols were lower. As a rule
prices for European securities were without i'm
portant change Cable dispatches indicated the
possibility of a stronger discount market In Lon
don.
TO-DAYrs STOCK LOAN QUOTATIONS.-Loan
quotations were: Amalgamated Copper. Anaconda.
American Ice Brooklyn Rapid Transit, Erie COM
mon Missouri Pacific. Peoples Gas, Reading first
preferred Rock Island. Southern Railway pre-
ferred Southern Pacific. Sugar. Tennessee Coal
and Iron United States Steel common. United
States Leather preferred. Wabash preferred,
SHELTERS common and Republic Steel common, l
per cent; Atchison common and preferred. Balti-
more and Ohio common. Canadian Pacific Con-
soldated Gas Delaware and Hudson Erie first
and second preferred, Louisville and Nashville
Manhattan. Norfolk and Western. Metropolitan
Street Railway and Union Pacific common and
preferred, a4Q1 per cent; New-YOrk Central. Penn
sylvania and St Paul 14qa4 per cent; United States
Steel preferred. 81 per cent. and Western Union
Smeltefs preferred. Republic Steel preferred and
American Locomotive preferred fat.
PENNSYLVANIA EARNINGS.-The Pennsyl-
vania Railroad in June obtained the benefit of the
large outlay which made in period of year
or more Lower grades short cuts and the alb
of grade crossings are great factors IN the
economical operation of a railroad and the June
statement of the company shows how they have
aided in reducing the cost Of operations so
as to produce an increase of $4,000 In the net
earnings. This excellent showing was erected
through a total reduction in operating expenses OF
81 9S9 600 gross earnings fell S54S7Co behind the
figures of June 1868.
MACKINAC LAND GRANT BOND REDEMP-
TION.-The trustees of the Detroit Mackinac and
Marquette Land Grant opened tenders on Monday
at Detroit Of bonds for redemption They bought
$4,000 at prices ranging from STA to S4]2 The next
retirement of bonds will take place next year The
trustees in strong position. having enough
money on hand and in sight to insure per cent
interest payments for years to come
WESTINGHOUSE TO SELL STOCK.-A circu-
lar has been issued by the Westinghouse Electric
and Manufacturing Company to its stockholders
Offering 90 600 shares of new stock on tho same
terms as the $1,000 shares which were issued last
May basis of $50 for each $50 share or this
stock 81 so shares have been UNDERWATER AZ
the subscription price The proceeds Of the 5o.Ho
shares will be used to provide in part for an IN
vestment in the bonds and shares of the Lacka-
wanna and Wyoming Valley Rapid Transit Com
pany: for the purchase OF shares and debenture
stock OF the British Westinghouse Electric ana
Manufacturing Company Limited: for shares IN
the Canadian Westinghouse Company; for tho
purchase of valuable electro pneumatic train con-
troled patents and for other capital expenditures
SLOSS- SHEFFIELD STEEL. AND IRON JUNE
METRIC actual net earnings of the Sloss-Sner-
field Steel and Iron Company for July. 1904. after
paying interest and taxes are $79.5S. These figures
are 5000 in advance OF the estimated figures Tor
July
PIPE TRUSTS DIVIDEND INCREAsED.-The
United States Cast Iron Pipe and Foundry COM
panv has advanced its quarterly dividend on It's
preferred stock from l to IA per cent The stocks
Of the company small dealings enjoyed marked
Improvement in yesterdays markets
ILLINOIS CENTRAL BONDS.-Speyer & co.
have purchased from the Illinois Central Railroad
8 662 Ol0 of the company's ffty-one-year Omaha
division first mortgage bonds. authorized IN lsV'-
SPEYER BUYS ILLINOIS CENTRAL BONDS.
-speyer & Co. have purchased from the Illinois
Central Railroad $26s3000 Omaha division first
per cent gold bonds due August !, 1Sl These
bonds form part total OF s. 100000 all Of which
have been issued