New-York tribune., 1904-09-07
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt in
large number OF stocks in the local market. SELL
ing upward OF 50000 shares on balance. IN the
London market there were no changes OF impor-
tancc although government bonds and home rails
were firm. Money easier in London and in
good demand Berlin discount rates were higher
COLORADO AND SOUTHERN FIRST PRE-
FERRED DIVIDEND PASSED.-The directors OF
the Colorado and Southern Railway Company at
their meeting yesterday decided not 10 declare g.
dividend on the first preferred stock at this time.
1t is officially stated that the action taken
because OF the labor conditions that have obtained
in Colorado since last November. and which have
adversely affected the earnings OF all the railroads
Of that State IN that period. The usual dividend
has been earned. but It is said that the directors
decided that II wise to act conservatively and
strengthen the company's surplus instead OF paying
out the usual amount for the dividend In 1900 the
company paid per cent on its first preferred
stock In 1901 the amount raised 10 ga per
cent. and the same rate paid In 1902. In 1903
the rate still further raised to per cent the
full amount 10 which the stock Is entitled. In
April Of this year the usual semi-annual dividend
Of . per cent paid.
CANADIAN PACIFTC.-Earnings OF the Cana
dian Pacific for the last week in August show
large increase the week a year ago
gross income being $l7sO00 heavier. For the month
gross earnings have increased 1898 9e9 making from
Jul a gain or SSGl $40. Canadian Pacific stock
sold ex-dividend OF per cent last Friday. but in
yesterdays market it showed nearly full recov-
cry OF that amount advancing nearly Ia points.
Rights equal 10 about per cent accrue TO stock
holders on tho new issue of stock.
READING RUMORS.--It was reported in Wall
Street that with the dissolution OF the voting
trust the Reading company would consider the
question % retiring the second preferred stock
against issue In equal parts of the first pre-
ferred and common. II was also reported that a
dividend OF per cent would be declared on the
common stock and that the small amount Of
tffsr efO in
absorption of the Issue 10y the First National
Bank interests.
SOUTHERN RAILWAYS HEAVY EARNINGS
Gross earnings OF the Southern Railway Com
pany for the fourth week In August show an in
crease over the same time a year ago of SIPS
2l2. making for the month n gain OF 1891 and
from July ! gain OF s3l63S.
BOND MARKET FEATURES.-A feature OF the
trading in yesterdays bond market was the activ-
ity I'm tho Japanese per cent government bonds
and the Republic OF Cuba per cent government
bonds. Total transactions in all bonds we're the
second heaviest for any day this year. amounting;
in par value 10 over s7.OOOOOO Enormous dealirs Is
again reported in the Consolidated To-
bacco As.
HEAVY GAIN IN EARNINGS Railroads re-
porting earnings for the fourth week in August
show for nineteen companies a total gain OF
S91J.00 and for three companies a total loss OF
sl6-s2i making net gain of $s5s,256. The heaviest
gains were made by Canadian Pacific Southern
Railway, Wabash and the Southwestern rau-
roads.
MANHATTAN TRANSIT STOCK.-The feature
of yesterdays curb market was again the activity
in the shares of the Manhattan Transit Company
The l,elef is growing that developments favorabIv
affecting the property are pending.
MORE ROCK ISLAND STOCKHOLDERS In
the last twelve months there has been an Increase
of over 40 per cent in the number Of holders Of
Island company.
SEATTLE LIGHTING BONDS--N. ". Harris
x Co offer 10 investors 100000 Seattle Lighting
Company nrst mortgage per cent bonds duo
March /. l94t The company does the entire ess
lighting business OF Seattle. Wash serving popu-
nuon OF la,CO. Price and details % The bonds
will be furnished application