New-York tribune., 1905-06-29
IL. 45o Total sales.
WALL, STREET AND EXCHANGES.

WALL STREET AND EXCHANGES
,,oyr1cN TRADrNG.-Foreign houses dealt in
60 coo shares in the local market mostly
In London Conso1s were steady ana shdue hai"-
o- russien bonds were firm but the Japanese is-
s,es sold off on ruulors of new loan Oh lloi4
rE noo Oo to 0OoOO00 Money was in very far sup
, for the settlement considering the time OF year,
rd for the moment the French demand for gold
-v.s less urgent Reports the international
uoliticaI situation were vague DuI upon 'He "iA'0
indicated more tranquil feenng-
MARKET GOSSIP-Baltimore and Ohio may De,
taken as continuing to discount the expected ao-
yauce in the dividend to 5 per cent Inc price
saa,os a fairly high one, on that basis but
bor or commission houses report investment
h,,t,re of very much the same class which mas
absorbed Pennsylvania for years past Ihe rheors'
Of course is that dividends on such roaos are con-
servatiye enough to be permanent Missouri Kan
sea and Texas issues responded to the stTehgth
,1oxrn in them in London. The explanation for the
movement lies in the development Of buying Ior
Amsterdam on the other side The Dutch 1narhet
for the stock is quite the best at present. anu
movements both here and In LONDON IheEe1y Ielie.'
+ba sentiments of what is taken to De the Luton
-,.4oritv Chicago Terminal preferred was the SEN
sation Of the first five minutes traalng' advancing
points on light transactions We announced soine
davs ago that the property was 10 De taAeA o'0A
~ t3rrIineton The movement in both common
=, "a rfarred and their obvious scarcity seem to
,rdicata that the stockholders will be generously
treated Reading developed early suens'h @11
activity Traders bulling 1t more on teciiiioAi
conditions than on any news developments hkeiy
q. t,erenra the market. An advance in the JeF-
s Cantra1 dividend is talked of but not believed
w n Hatch was the trader who bid up Chlcago
Terminal preferred at the opening. AheFe was al
early resumption Of the Gates selling OF Oh'oh d
.;e. O O. Gates & Co. sold 10000 shares openly
on Tuesday and were then credited with general
rros+ taking round the London had q
strong bull point Erie, and was among the carry
buvers. The transfer of speculative activity IroIn
Reading to Erie common has given the STOCK d
eood deal of speculative strength, and makes the
4o7irg element bullish The development OF
demand for 1t in the loan crowd is significant, taken
J., connection with the Vanderbilt buying reported
for some months past.
MINNEAPOLIS. ST. PAUL AND SAULr SIZE
MARIE-There Is the best Of authority for the
statement that at the next dividend meeting or the
,r,eano1is St Paul and Sault Ste. Marie directors
the rate on the common stock Will be advanced 10
a higher level According to interests identlhed
with the company, It is not a question or an in
crease. but question as to the amount Of the in
crease Some Of the directors favor an per cent
rate hut it Is likely that the declaration will be
a per cent basis. Some of the Western interests
in the company, who, unfortunately Tor their own
nocketbooks have been selling the stock short, are
not in favor of an increase in the dividend, their
reason being obvious from their market operations
in the stock 1t is not likely that their influence
will be sufficiently important to stay the determine
tion of the majority holders Of the stock to in
months ended May 81 the company showed earnings
equivalent to over 13 per cent the common COM
pared with about per cent in the same time in the
preceding year. In view Of this showing, the stock
holders naturally believe that an advance in the
dividend rate should be made. There is little OF
the stock available for speculative purposes, and.
as the Canadian Pacific holds more than one-half
of the ISSUE while the greater part of the rest Of
the stock is in the hands Of people who do not in
tend to place 1t the market. there may be seri-
ne
have gone short OF the security.
READING COMMON AT PAR.-Readng com
mon sold at par first time IN the history of
the road so far the stock in its present form is
concerned The interesting feature Of the
ment the development of strength in the sec
ond preferred stock. It thought to give the
key to the activity indicating retirement of
that issue Thi3 is provided for against equal parts
of the first preferred and stock. On the
parity the second preferred should sell at about 60
CHICAGO AND ALTON.-The Chicago and AL
ton Railroad Company has sold to Kuhn Loeb &
Co s5,000OO0 of its refundng mortgage 8 per cent
gold bonds. These bonds were authorized at q
special meeting OF the stockholders last year The
proceeds of this block of bonds Will be used to nav
for additional yard facilities outside Chicago and
at Kansas City, for equipment, and to complete
roadway improvements that givo the system a
three-tenths Of 1 per cent grade between Chicago
and Kansas City, both eastbound and westbound
SECURITIES LISTED.-The following securities
have been added the Stock Exchange
t1Sl. SlYVofsVVO aQultlOnai nrSt cOnSOlfdated
mortgage per cent coupon bonds of 1894
OF the Southern Railway Company Sc ss46-
600 additional Sk per cent mortgage coupon
bonds OF 1897 Of the New-York Central and Hud-
River Railroad Company, $4,000. 900 preferred
stock and s10oOo,o0o common stock or the Toledo
st. Louis and Western Railroad Company 81 900 600
4h per cent debenture coupon bonds 1915 of the
American Cotton OIL Company. $40, ,6O9 zoo addi-
tional common stock OF the Chicago and North
western Railway Company and s2.655 600 per cent
twenty-year debenture coupon bonds OF 1925 of
the American Ice Securities Company
PIENIX NATIONAL NEW DIRECTORS-The
stockholders OF the Phenix National Bank have
approved proposition to increase the number of
directors from fourteen to twenty-one. Three new
directors were elected yesterday. follows: Irving
A stearns, president of Coke Brothers & Co. coal
operators; Frederick D. Underwood president Of
the Erie Railroad Company. and Robert p. Per-
kins, president Of the Hartford Carpet Corpora |
tion.
ATCHisON.-The net earnings of the Atchtson |
Topeka and Santa Fe for the eleven months ara |
the ughtest since 1902 the year In which yhs sso