New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-06
London New-York New
49, ,,f-orap- Gloss
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-FOreign houses dealt in
1900 shares in the local market selling 10000 shares
on balance. In London the market was quiet at
unimportant changes.
STOCK LOAN QCOTATIONS.-Loan quotations
were: Amalgamated Copper. Anaconda. American
Ice. Brooklyn Rapid Transit. Erie common, Louis
vile and Nashville. Manhattan. Missouri Pacific.
Norfolk and Western, 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. Smelt-
common and Republic Steel common. 1Q1h.
per cent; Atchison common and preferred. Balti-
more and Ohio common. Canadian Pacific. Colorado
Fuel and Iron. Consolidated Gas. Erie first and
second preferred. Metropolitan Street Railway
Union Pacific common and preferred and United
States Steel preferred. l per cent; New-York Cen
trail. Il per cent; Pennsylvania and St. Paul q
per cent; Western Union, fat: Shelters preferred
Republic Steel preferred. American Locomotive
preferred and Pressed Car preferred, fiat and 1256
per cent.
THIRD AVENUE OBSERVATION-DISCLOSURES
made yesterday that a quarterly dividend Of
10. per cent would be paid on Third Avenue Rail
road stock July 30 This IS the first payment
made under the lease of the Metropolitan COM
pany The lease calls FOR the first four years that
net income above expenses and fixed charges
shall be used for dividends. while the next three
years per cent shall be paid per cent for the
four years following and per cent thereafter.
FAVORABLE RAILROAD REPORTS.-Trafic
officers of the trunk line railroads and Western
nections sending in much more favorable
ports than have been heard since the first Of
last December. From many n
formation that the falling off in freight traffic
has been checked and Indications OF
steady Improvement in business conditions from
on. This situation Is especially marked along
the line of the Pennsylvania Railroad system, where
the outlook has changed almost completely within
the last ten days
TRUST COMPANY MERGER DENIED Officers
OF the North American Trust Company and Of the
Trust Company OF America yesterday denied the re-
port that negotiations had been resumed looking
toward merger Of those two institutions. They
said that no steps have been taken toward merging
the trust companies since the original plan was
abandoned some weeks ago.
UNITED STATES STEEL ORDERS.-It is re-
ported that the United States Steel Corporation has
untitled orders its books exceeding 100000 tons.
Only once since the corporation was organized
have the untitled orders at the end OF any quarter
fallen below 100000 tons
APPLICATION TO LIST.-Applcation has been
made 10 the Stock Exchange 70 list N00o 600 add
tonal consolidated mortgage PER cent bonds OF
the Norfolk and Western Railroad Company.
TRUST COMPANY OF AMERICA-The new
stock certificates Of the Trust Company OF Amer
tea. representing the reduced capitalization.
now being issued and in connection with the trans
action stockholders are receiving IN cash the
amount due them under tho plan Of recapitaIiza-
ton. While the dividend rate that will he paid
mined, Fl 20 DO generally understood that il
Will be about 90 per cent.
OFFER To INVESTORS.-Redmond & Co. Of
New-York and Philadelphia. offer 70 investors
10000 Ulster and Delaware Railroad Company's
first refundng mortgage per cent nifty year gold
bonds. due october l. 1852: the interest is payable
In April and October. These bonds. which are
offered at 81 and accrued interest. thus Welding
about ~ per cent. listed the New-York
Stock Exchange. They are secured by a mort
the entire property OF the railroad consist
ing ~ ia miles from Kingston Point TO Oneonta.
y. y where connection is had with the Delaware
and Hudson Railway and its branches The prop
ery has been In successful operation from 1876 and
I'm tho last twenty-five years has never failed 10
earn surplus in excess OF fixed charges. This
surplus has been expended the property aud in
the last two years no charges have been made 70
capital account. all improvements. equip
ments. etc. having been charged to earnings.
Within the last five years tho net ivome over
charges has arisen from S7,799 10 s6o.i9l.