New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-04
MINING STOCKS.
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foroig1 Nouses dealt in
$1,000 shares in the local market, selling heavily on
balance In London consols were unchanged, and
the general market showed good tone Foreign
bcrds advanced little, in spite of the absence or
any news from the Far East. Copper stocks were
Irregular with a fair rally in Anaconda The
special settlement in the Japanese bonds was
in process of adjustment. Money was in noder-
ate demand in the various European centres but is
likely to be plentiful enough for some weeks to
come except for the special requirements OF occa-
sional calls on recent new issues.
ERIE-The Erie Railroad proposes to spend
about $4,000 for Improvement Of its locomotive
shops with view to maintaining its motive power
in a higl. state Of efficiency hereafter The pres
ent facilities are equal to the handling of about
eiChty-fve locomotives month, and the additional
accommodation to be provided will enable the shops
to take care Of about thirty-seven more monthly,
making 122 each month, or about 1850 a year. The
company will thus be in position TO satisfactorily
make repairs at its shops its increased COM
plemoit Of locomotives OF the locomotives ordered
some time ago delivery of about $50 Will begin in
the near fu.ure
April. CLEARINGS-"B radstreets" reports that
the total clearngs at nnetyfour cities of the United
States for the month of April aggregated $l26l,-
6S9529 a only IL per cent behind the record
total cf March this year and 53.2 per cent .ar6er
than the month of April 1904 OF the entire coun-
try's cearlngs 6S12 per cent was recorded at New
York which showed total of IS $50 1856 40 gain Of
Sl2 per cert April last year, and gain of one
half of per cent over the April 1901 total. Out
side of New-Nork the cleariugs al ninety--hTee
cities aggregated g $50 Si3 069 decrease Of 80 per
cent from March but a gain Of AS per cent ever
April 1904 and I3 per cent larger than the largest
April total heretofore reCorded-that Of April. 1902
BALTIMORE AND OHIO'S EQUIPMENT.-The
Baltimore and Ohio Railroad Company officially
announces the awarding of contracts for ten thou
sand freight cars at a total cost of about $2O00O0
as follows: American Car and Foundry Company,
1900 steel hoppers to be built az Berwick. and go
refrigerator cars, 10 be built at Chicago; Pressed
Steel Car Company, Pittsburg, 1COO steel hoppers,
600 steel twin gondolas; Western Steel Car and
Foundry Company, Chicago 1000 box cars: South
Baltimore Steel Car and Foundry Company, Bal
timore, loo box cars; Standard Steel Car Com
pany. Pittsburg 1900 steel gondolas, with wooden
sides; the Cambria Steel Company. Johnstown,
Penn. 1000 steel twin gondolas; Rodgers Balltst
Car Company, Detroit, 80 ballast cars.
TENNESSEE COAL AND IRON.-The outcome
of the stockholders meeting OF the Tennessee Coal
and Iron Company. held at Tracey City, Tenn On
MAY 2 shows that the present management has
full control. The new directors are John E. Borne.
president Of the Colonial Trust Company, and
Andrew W. Smith, of the companys largest
stockholders Joseph 3. Dickson, Of New-York,
and Charles NIcCrery, OF Birmingham, Ala re-
tired. The former requested the management not
TO re-elect him, while the latter recently resigned
as vice-presidont and general manager of the
company to go with the Woodward Iron Company
Of Alabama. J. Henry Smith, f. S WItherbee and
Herman S. Leroy reelected.
SUGAR MARKET CONDITIONS.-The recent
sales amounting in all to about 10000 bags have
cleaned up about all the sugar that is for sale
nearly and left sellers in much better position
than they have been in for some time past 1t Is
remarked in the Street that reiners have been able
TO obtain but little sugar at the low prices, the
hulk Of their holdings being of sugar bought in at
higher rates Furthermore, it IS supposed that
they have great deal of spot sugar on hand,
and that they will have to come into the mar
ket for large supplies Cuban planters are quite
stiff in their ideas of selling values and from all
Of this it is argued that the market is on the
of better things.
COTTON EXCHANGE AMENDMENT. - The
members OF the Cotton Exchange baloted yesterday
in favor of an amendment TO the bylaws providing
that the board OF managers may apply excess of
inspection fund over S75 600 to the needs of the
change and shall restore such excess to the fund
when necessary.
DETROIT SOUTHERN'S NEW NANE-The De-
trot Southern Railroad has been reorganized under
the name of the Detroit. Toledo and Ironton Rail
road Company. The amount of capitalization and
the personnel of the directorate have not yet been
determined.
CANADIAN PACIFIC.-Canadian Pacific reports
that the average price realized for land in
the West in April s. &c. the largest in the his
tory OF the company's operations.