New-York tribune., 1905-12-31

hut 60 not follow the advance American Iocomo-
tive was put up BY the old pool with the usual
ruInor O. a dividend in January and some efrort
- distribute stock advances The dividend may
happen, but It Is quite so probable as It looked
three months ago. Houses with political connec-
tons had Metropolitan for sale. Their customers
dd not Ike the city slate and attached ira-
portance e the proposed competition for the new
sIbways
CENTRAL TRUSTS NEW YEAR PREsENTz-
The custom or distributing a bonus eot,fvalent "a
half their salaries. among the employees Of ths
Central Trust Company OF New-Yorl which vvaa
established BY Frederic P. Ocott the former pres
dent Of the company. years ago. has been followed
this year, The sum distributed yesterday wss
$1,000 The company has hal a most prosperous
year. It pursues the conservative policy CT never
charging more than per cent for loan money, no
matter how high the market rate may be.
BIG FOUR EARNINGs-For the hrst time in
three months the gross earnings OF the Cleveland,
Cincinnati, Chicago and St Louis show an In
crease over the corresponding month OF 1904 No
ven1ber gross exceeds last November's gross By
a6Sooo. or approximately per cent. The gross
earnings Of the company for eleven months are
than 10000 greater than IN 1sO4 but the net
earnings show decrease OF about $2O10O0 This
is In part due to the Vanderbilt policy OF high
maintenance charges from earnings. Freight traf-
hc on this road has been heavy in recent months,
but owing to the Worlds Fair movement OF last
year the passenger earnings have decreased. It
appears, however. from the returns for eleven
months that the surplus available for dividends for
the year will not be far behind that Of 1904.
THE COTTON MONEMENT-According to This
Financial Chronicle" the total receipts OF cotton
for the week ended December %. 1915. were 21s2ss
bales against 23649 bales last week 24 sos the pre-
vious week and 800 10 bales the week before that
The total receipts since September / are 5OS4473
bales against 5.S21.5l4 for the same period last
year. a decrease OF 1901 bales. While rain has
been quite general during the week the amount OF
rainfall has in most localities been moderate The
movement to market has been fairly free although
tendency to withhold cotton is stlll noticeable
CANADIAN PACIFTC.-Canadian Pacific broke
all records in November. Gross increased 81 Oo0OO0
over November OF 1904 or p per cent. and net In
creased S6g1 49, or Al per cent. Tho Increase in net
for FIVE months Of the fiscal year ia g @ 49, which
IS equal than 81 per cent OF the net for the
period OF last year. This last increase in net
IS equal more than % per cent a year on the
common stock OF the company. OF course. there
have been Increases in the preferred stock and
consolidated debenture stock. and the dividends
these increases should be accounted for out Of the
increased net but even So the earnings far this
year for the common stock largely IN excess OF
last year
STANDARD ROPE AND TWIND CONIPANY.--
Holders of the certificates OF deposit for first ort-
gage 6 per cent gold bonds Of the Standard Rops
end THine Company havs Seen called upon for %
per cent Of the amount OF their subscriptions for
the new bonds on theI1ass outlined IN the plan OF
reorganization Funds payable at the EqultaOls
Trust Company before January IS. az the
rate OF 80 623 1900 Of old first mortgage bonds
The option Is offered Of paying the whole subscrip-
ton.
AMALGANLATED. An Amagamated interest
says that from present indications the Amalga-
mated Copper Company viii place its stock upon
regular per cent dividend basis in 1905. and pos
sibly declare extra dividends II present copper
prices are maintained as now seems likely.
BANK CLEARINGS.-The total bank clearinss
Of the United States for the week ended December
50 were s. 9JL28e against S 3ss 674 51 in the pre-
cedng week and g 15 or go the corresponding week
FOREIGN EXCHANGE CONDITIONS. C
Schumacher & 60. say:
can money on the New-York Stock Exchangs
advanced to 70 per cent and this caused , break
cent commercial bills which are sold for cash
ers bilis which sell FOR cash on steamer day. The
facts in the case would fully warrant such a de-
cline. as our bankers can hardly be expected 20
buy commercial oils, when they can lend out
6Ee rbSnf Iafy On rd T " FortunafeS hs supply Of
exchange was very small, and owing TO this fact
amount Of cotton and grain bills had equaled the
amount received earlier during me month It would would
not have been question OF the price az which
could be placed but simply q question OF
dlsposiug OF them any fEcre. Any surplus above
the regular inquiry for Pemittances would have
been a drug upon the market and unstable fos
have eased and that the outlook is in favor OF still
play any part in our exchange market. These
factors will raassert themselves as soon as tas
terra and during January snail not be
rrised 10 see very much higher rates for eXchangs
than have prevailed during all this month
COPPER ORE DISCOVERIES N MONTANA
In addition the rich strike made D. the Ana
conda an immense ore body has been found
5he sr0-soot level OF the Parrot mine. the new
strike being a continuation OF the new Anaconda
vein. The Parrot mine Is controlled BY the Anal
garnated Copper Company. and the new hnd Of ore
viii be OK great value and Importance to the latter
COMPANY as it gives 700 feet the vein before the
Nfuper claim OF the Heinze United Copper Com
pany comes into ownership OF this vein az depth
Of 200 feet. The Amalsamated and Anaconda
people are nov beginning to figure on mors
active interest for foreign account IN American
conner securities az the expense Of the South Afrt-
can mines especially as IN the Anaconda there IS
g gold 20 the ton compared with about 8 to the