New-York tribune., 1905-02-28
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt in
81 900 shares in the local market selling on balance
in London oonsols were firm at 9l$s. an advance OF
). per cent. and Japanese bonds continued TO ad-
vance Cousols at the monthly settlement were
continued contango of S12 per cent indicating
rather more demand for money. The tone of the
genefal market was firm Money seems likely to
ease off after the turn of the month, but there Will
probably be some demand for the Paris settlement
this week
BALTIMORE AND oHIo's HEAVY EQUIP
NENT ORDERS.-The Baltimore and Ohio Rail-
road Conpany has authorized the purchase of 175
consolidation freight locomotives, 30 passenger To-
oonotives % six-wheel switching locomotives and
10000 freight cars. This will be the new equip
nent for the present year. and will be by far the
largest purchase made in recent years by the COM
panv. The contracts will soon be awarded and the
aggregate cost will range between S12 100000 and
sl3 10000 The delivery Of cars will begin in April.
and in time for navigation business. II is expected
the first locomotive will he delivered in June. and
all deliveries of cars and locomotives completed by
November ]. 1905. 10 take care of next winters
business requirements.
COTTON EXCHANGE IMPROVEMENTS
proposition authorizing the treasurer Of the New
York Cotton Exchange TO pay out about $4,000 to
cc-er the cost Of the building and the i'm
provements. the surplus of the general fund OF
the exchange, to be used first. and thereafter TO
borrow from time TO time as needed, as the board
OF managers directs, was balloted yesterday by
The members, and passed by vote of SS to s.
been received by The Tribune relative to the posi-
tion Of ACTUAL value of Anaconda stock, and the
following summary compiled by The Boston News
Bureau will therefore prove of interest TO readers:
When AmalgaInated was formed, its SO 100000 OF
capital represented a control Of Anaconda at $40
q share. well a control of Parrot at about
the same figure. together with the Washoe and
Hestment IN Anaconda probably cost in the vicinity
OF S500O1W01 say 10000 shares. at so share.
-Anaconda's total shaIes are 10000 Anagamated
IS selling for 70 per cent of the price at which
the shares were selling when Anaconda was taken
n. Anaconda on the other hand is selling for
only 81 per cent Of the figure at which the majority
Was secured which majority formed the backbone
Of the Amalgamated Company The price of Ana
cenda has not adequately responded to the changed
stoclg Ar,acnnda is selling reiatveiv low low TbeTs
has been some underground improvement at Ana
conda Of late At the l,2e0-foot level a rich body
result that the value OF the tonnage in 1904
was considerably higher than that sent TO the
sn1elter IN lSvS Anaconda has not been demonstrat-
ing its real share earning capacity for
by reason OF heavy charges 10 depreciation against
the cost OF IT'S olsrnanted smeter The new smelter
IS now treating its maximum tonnage of ore. and is
ever heretofore obtained 1t would seem therefore
that Anaconda was in stronger position to-day
than when the stock sold at $40 under the fictitious
Il cent coPPfr d ma maTkSt EStr At sc sc share for the
proAts are earning over Is per cent
UNITED STATES Observation-Disclosures con-
nected with the reorganization committee of tho
United States Leather Company ridicule the re-
port that a majority of the stock had not been
deposited under the plan. as officially announced
several days ago. 1t is stated on high au-
thority that approximately 75 per cent of each
class Of stock has been deposited in favor of the
plan. The entrance of Representatives Of Kuhn
Loeb & Co. and the Armour interests into the di-
rectorate merely indicates that the reorganization
committee is going ahead in carrying out the plan
originally outlined.
SOUTHERN PACIFIC.-The temporary certin-
Gates for Southern Pacific Railroad Company first
refunding mortgage per cent bonds have been
placed on the unlisted department of the Stock
Exchange
APPLICATION TO DISCRIMINATION has been
made 10 the Stock Exchange to list Chicago Bur
ington and Quincy Railroad Company s43l40o ad-
ditional Illinois division per cent gold bonds of
1898
500 EARNINGS INCREASE-E Earnings of the
Minneapolis, 81. Paul and Saut Ste Marie for the
third week in February show a gain Of $50 42s max
ing from July gain of $s9O,5i2 comparison being
made with the same time a year ago
NEW-oRLEANS RAILWAY COMPANY-The
time TO deposit securities of the New-orleans Rail-
way Company with the New-York Security and
Trust Company, No. 2s Broad-st expires TODAY