New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-02
change on London was heavy and Berlin discounts

/ change on London was heavy and Berlin discounts
were weak.
COMMON DIVIDEND PASSED-The directors
OF the American Car and Foundry Company have
declared the regular quarterly dividend OF 1& per
cent on the preferred stock. but no dividend the
common stock. The suspension of dividends on the
common stock is another instance indicating the
conservatism Of the management Ever since the
company was formed it has been the policy to let
the common dividend disbursements be governed
by the amount Of the surplus earnings after pay
ing the preferred dividend. Last year. when the
earnings were large, the directors placed the com
mon stock on n per cent basis. When business
began TO slacken It deemed advisable 10 reduce
the common dividend from I per cent to per cent.
and in the last six months one-half OF per cent
has been paid quarterly the common shares
The decision of the directors to keep this working
capital intact, instead Of paying it out in common
dividends, in the circumstances is regarded as
wise policy.
STOCK LOAN QUOTATIONS.-I,oan quotations
were: Amalgamated Copper, Anaconda. American
Ice Brooklyn Rapid Transit. Erie common, Louis
willie 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 States Leather preferred,
Wabash preferred. Shelters common and Republic
Steel common. 1q1l. per cent; Atchison common
and preferred. Baltimore and Ohio common, Cana
dian Pacific Consolidated Gas. Delaware and Hud-
son. Erie first and second preferred Norfolk and
W tSteIl AeIrOpOuttN street railway, Union "a
cidc common and preferred and United States Steel
preferred per cent; Pennsylvania and St Paul.
z per cent; New-York Central q per cent; West
EN- Union and Car Foundry common and preferred.
fat; Republic Steel preferred. American Locomotive
preferred and Pressed Car preferred 1856 per cent
and Shelters preferred. hat01-256 per cent
GULF AND SHIP ISLAND SYNDICATE
CLOSED-Fisk & Robinson say that the syndicate
organized to take up the Gulf and Ship Island
bonds has been closed. with satisfactory profit
to the underwriters.
MOVEMENT OF MONEY.-The principal move
ments of currency this week Indicate that the
banks gained thereby %.5S5S0
MUNICIPAL BONDS-The sale yesterday Of
a0t0000 fifty year 81 per cent bonds by the city of
Hartford. at 1928, is taken by investment houses
to indicate a decided tendency toward higher prices
for all first class issues The sale has directed
ucular attention TO the city of New-York Sl2 per
cent fifty year bonds which being offered
by the syndicate at 1922 and interest. 1t doubtless
means early advance in the price of the latter
Issue.
RAILWAY BUILDING FOR SIX MONTHS
THE Railway Age says:
As had been anticipated, railway building in the
United states during the first six months of 1904
shows a falling off IN comparison with the cor
Grating expenses and decreased traffic resulting
IN smaller net earnings together Win the con
tinued stringency in The money market. furnish
the explanation Of decline in construction OPP
increased curing the nrst quarter OF the year ny
the severity OF the winter, and the spring found
bnfb in 6ir c,Jrrt $50 no i i tIi @
$50 - -. C..-+L - -
many plans for Improvement and extensions pro-
suspended ana are still held in abey me CON
siderins these conditions, il is surprising to find
from collation. of official reports received by
THE Railway Age that no less than 1881 miles
Of track have been completed during the first six
States and territories.
GRAIN EXPORTS FOR THE WEEK.-"EIad-
streets reports the exports Of grain for the week
follows: Wheat. -four included. 1l27,SS5, against
1271437 last week. 2956.6S2 This week last year
3Il.2l5 in 1902 and $50 in 1901; from July l.
1893. 133s55,32t compared with 223.I66S7S last
son, 2H S54.43 IN 1902 and 2f9475Ol in 1901: corn
5si,oS7. contrasted with sS7962 last week. 142o172
this week year ago. 1889 IN 1902 and 2240e33
In 1901; from July l, 1893 6555,Qd2 against 67.oo5
7,5 last season. A956,934 IN 1902 and l737120i9 in
1901.
METROPoIITAN-Harry Content bought and
bid up metropolitan IN the afternoon. taking some
5,pl shares the way up and making the price
sell at ZIG He seemed 10 have the bun point on the
stock, and was perhaps backed by the people chiefly
responsible for the movements it and Metropolis
tan Securities. George p. Butler & Bro were feed
ine the stock out 1t advanced There was un-
dcuhtedly extensive short interest. one bank
ing firm few days ago was lending 5000 shares
Of the stock
TIME ENTENDED.-I time for depositlng the
certificates Of the Montreal and Boston Copper
Company Limited With the Knickerbocker Trust
Company Of New-York, in exchange for temporary
interim certificates. has been extended from July
?, August l. 1904
CUSTOM HOUSE FIGURES FOR THE YEAR
Collections OF the New-York Custom House for the
fiscal year just closed amounted to s170972.5so a
Gecrcas. of s. so from last year but an Increase
over any preceding year.
CONSOLIDATED GAS DIVIDEND.-The Con-
-elidated Gas Company has declared the regular
quarterly dividend OF per cent. PAYABLE septer-
her u. The declaration Of this dividend for the