New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-10
WALL, STREET. AND EXCHANGES.


% 900 shares in the local market buying lo'o9V
shares In London consols were tirmer and the
market all round showed less nervousness IMAM II
had done on Monday. There was one small ialluIe'
and there are likely TO be more. but apparently
nothing of much consequence. The principal losses
have been made in the American stocks. The Tort
nightly settlement begins Wednesday ana any
further financial difficulties will be known on Fri
dav or Saturday. Money seems likely to RUE
fairly easy particularly the French demand Tor
gold has ceased. There were no indications OF any
change in the Far Eastern situation
AMERICAN BEET SUGAR-At the annual
meeting of the stockholders of the American Feet
Sugar Company. held yesterday. the officers re-
port of the operations of the company for nine
months ended March 81 last submitted as fol-
lows. the fiscal year having been changed 10 END
March 81, instead of June 80, as heretofore Iotai
credits of campaign, $3,79S5S0 (unsod sugars being
nventoried at factory cost; cost OF operating
81 6SO7S5: maintenance repairs cost of supervision
and improvements. $685. total cost. $S.l127OO;
balance 1925 $50; interest on borrowed money
$50 12; general expenses, $+5; total S34521; bal
ance profit from operation. $4S35S deduct interest
paid on certificates of Indebtedness $4,000; bal
ance 1911 1888: dividends paid preferred stock
for nine months, SlS0OOo; surplus, Sl9l,353- The
market value the unsold sugars on hand Is esti-
mated TO exceed by S25O,000 the inventoried value
The company has in the last year sold g. 100000 or
its fve-year certificates of Indebtedness part of
an issue of 100000 With the proceeds it has paid
off 100000 of its certificates maturing March,
1905: purchased the Lamar Canal ard land (some
five thousand acres) and paid for the removal. re-
modelling and enlargement of the Norfolk Lamar
factory.
DELAWARE AND HUDSON MEETING.-At the
annual meeting of the Delaware and Hudson stock
holders yesterday William S. Opdyke elected
director III place of the late r. SOmers Hayes.
Other directors reelected. The Delaware and
Hudson stockholders at a special meeting approved
the increase of 100000 in capital stock and the
modified lease of the Chateaugay and Lake Placid
Railway The stock will be held in the treasury
to provide for conversion of the 100000 Sl2 per
cent bonds OF Albany and Susquehanna which are
TO be convertible into Delaware and Hudson stock
at the rate of $500 in the latter for each $1,000 bond.
These bonds will be used to redeem 100000 per
cent and $1,000 900 per cent bonds maturing next
year No part of the new stock will be issued for
any purpose other than the conversion Of the
bonds.
SUGAR MARKET CONDITIONS.-A distinctly
better tone is shown in the raw sugar market ow
ing to less urgency to sell and the 1rmer turn
manifested abroad at the close of business Mon
day. A cargo of about ten thousand bags just ar
rived has been ordered into store for merchants
count and rchners now seem disposed to take some
sugar at the market values. Therefore. the under
tone seems to be steady with centrifugal Sc test,
quoted at Az cents and muscovado at 37s cents.
PIG IRON ORDERS.-It is reported the Prod
uce Exchange, where pig iron certificates dealt
in. that the United States Steel Corporation has
Bessemer pig iron for May delivery. and that the
CdAIuIlt oleGl Company mas also closed an OrueT
for So eco tons of May delivery 1t is also said that
the Lackawanna Steel Company and the Jones &
Laughlin Co. are each in the market for 10000
of this months delivery.
STEEL RAILs.-The report from Philadelphia
that the Pennsylvania had ordered 5000 additional
tons of steel rails is confirmed here. representa-
tive OF large rail manufacturing concern says
that new orders placed this year, not taking into
consideration the business carried from last
year, aggregate between 100000 and 100000
1t is assured that the output of the rail mills
identified with the association will be at least
100000 tons in 1905
STOCK EXCHANGE VICE PRESIDENT
governing committee of the New-York Stock Ex-
change met yesterday and appointed c. w. Maury
vice-president to succeed himself. Members of the
different committees will be named at the regular
meeting to-day.
BANK OF GERMANY WEEKLY RETURN
The weekly return of the Imperial Bank of Ger
many shows the following changes Cash on hand
decreased 49, 10000 marks; treasury notes increased
900 marks; other securities decreased S7.520O0O
marks: notes in circulation decreased 26.720OOO
marks.