New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-04-17
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt IN
only few shares in the local market. In London
the securities markets showed general steadness.
as a rule. on moderate transactions. The features
included a hardening tendency in American railway
shares South African mining stocks and copper
issues The most important consideration was the
strength Of British home rails and sharp advances
in Japanese issues japanese As 1a4 per cent to
g. and the SIS gained point. TO 1872 On the other
hand Russian Imperial As a shade lower at
92A. Rio Tintos Il higher. at 53i4.
PROPOSED COPPER CONSOLIDATION.-Ac-
companying the call for the annual meeting Of tho
Montreal and Boston Copper Company is notice
that a plan for consolidation of several interests
In the Canadian Northwest will be presented by
the directors at the meeting April 20. Munroe
& MunrOe. who instrumental in bringing the
Montreal and Boston to the attention of the in
vestment public. observe reticeuCe to what prop
critics are to be embraced in the proposed consoli
dalton. The plans will be kept secret. to pre-
vent antagonistic interests Intervening until the
Stockholders meeting. Enough has been learned
from other 10 indicate that the properties
to De united all OF them producing mines. with
large reserves but all OF them with the excep-
ton Of Montreal and Boston being without smelter
feclies
ORDERS FOR STEEL RAILS.-orders for steel
rails Tor 1904 delivery the books Of the United
States Steel Corporation amount 10 about 100000
tons. This onnage. officials - the corporation say.
will practically constitute the rail orders Of tn
business done in 1903 and 1902
BANK .rEARINGS DCCIINE-The total hank
cleariugs Of all the Clearing Houses IF tho United
States for the week ended yesterday were 1885.
40 Ia. a decrease of sc2312. 10 from week ago.
end a decrease Of So "52 90 compared with the
corresponding week last year.
RAILROAD GROSS EARNINGS.-"The Finan-
ciaI Chronicle computes the gross earnings for
March. 19oi for sixty-nine roads at S42ls2s7
decrease Of sl2T.1S5 from the came time last year
Gross earnings ~ sixty-nine roads from January
! 10 March 81. 1904 S152o1.S3s. decrease OF
81 .72o174. 1l3 per cent.
MISSOURI KANSAS AND TEXAS-The Mis-
souri, Kansas and Texas Railway Company reports
for FEBRUARY deficit after interest and rentals
Of sl3 2so against deficit Of 81 lis the correspond
mig period last year. a decrease Of 27.s25 For the
eight months ending February %, surplus OF
1924 against n surplus Of N.o303& the corTe-
spending period last year. a decrease OF Sl0o.050
SOUTHERN RAILWAY COLLATERAL TRUST
BONDS-The Southern Railway Company has sold
the SIS 10000 5-year cent collateral trust gold
bonds. the issue Of which was announced in March
for reunding purposes The collateral securing the
bonds consists of miscellaneous stock and bonds be-
longing to the treasury the company, the income
from which is more than sufficient to cover the in
terest the new bonds.
CONSOLIDATED GAS.-The advance in Consoli-
dated Gas was followed by the report that politi
cal pool in the stock had been caught short. There
was a good demand from the shorts and il
said that much covering had been done at loss
Tho opening 20324 compared with 2o3la Fri
day The high point was 2osSt and the close 25l..
UNITED STATES STEEL MEETING - The
United States Steel Corporation will hold its
nual meeting I'm Hoboken tomorrow. Proxies have
been solicited from 70 957 stockholders. and the
proxy committee named includes Robert Bacon
Henry G. Prick Ebert ". Gary, Francis II. Pea
body and Norman d. Ream This committee is
distinctly favorable 10 the interests in control
of the corporation The annual report of the cor
poraton. which already has been made public. will
be submitted TO stockholders.
TO FORMULATE REORGANIZATION PLAN
At the request OF holders OF the preferred and
common stock OF the Houston Oil Company of
Texas. Luther Kountze. Of Kountze Brothers:
John l. Waterbury. president of the Man
haitian Trust Company. both Of New-York: and
Gordon Abbot. president of the Old Colony Trust
Company of Boston have consented a
committee to protect the interests of the stock
holders and to formulate plan of reorganization
Holders of both classes of stock invited to
deposit their shares with the Manhattan Trust
Company OF New-York the Old Colony Trust
Company in Boston under an agreement copies
The usual certificates Of deposit will be issued to
dcpositing shareholders In view of the suit al
ready begun and the appointment of receivers OF
the Houston Oil Company of Texas and the
Kirby Lumber Company. fl is important that de-
posits o. preferred and common stock be made at
once Dillon & Hubbard. of New-York and Coke
& Coke. of Dallas. Texas are counsel to the COM
mfttee.