New-York tribune., 1905-11-22

.rs,fssd the bull point which current in
sno :oa -. before the opening. The report was of
D01-s MED and as 4 large holder of Reading the
esus -,,eht be expected to benefit by the advance
a0SD -ice Of its investment Some talk of further
% tAS n Chicago Terminal is current in houses
occasionally do business for the Hartman
TMOA Arhitrage houses sold stock overnight.
ToH0.- n them did not believe that the London
s. ~. ~. 7ould respond readily 70 our advance.
&c still bearish our stocks. taking profits
ioA01 s5ysuce and selling short, although 1t is
@ -+bv - that during the rally Of the last few
- foreign shorts have not hesitateo TO cover
s'' -. st q small loss
aaeMswARE & HUDSoN'S PURCHASE OF
LD.rTT0H COMPANY.-Speyer s. Co. in conjunc-
y',,h the National Commercial Bank of Albany
| w -urobased $5.0Oooo0 per cent preferred stock
-. e 900 Of 81 per cent debentures, the pro-
80 NJ which securities wiz be used for the
CO. % the $5oo0.000 capital stock OF the
pal.T p.ls traction Company OF Albany involving
eA-'' ,,,tlav OF S7.500.0OO AS announced by this
a o. yesterday the offer made the United
bDoa~ 49,, company stockholders Of $50 a share
.'s- holdings is in the interest Of the Delaware
" I5n5son Company, and the new securities TO
AAes AZ as named above viii be guaranteed both
= = -r5ncipal and interest by the Delaware and
-. Company. The securities viii be issued
H- onlv in proportion to the amount OF
'.i cock Of United Traction Company actu-
% % z,sif4d the time for deposit of such shares
5inr 80 10 and including November Is.
: understood that full details have not yet
= uorled out as to the company which will
- - the new stock and debentures. Presumably
- .ounany will be organized. but that matter
|, merely formaIity. and the main point. so far
70 new securities are concerned, is that they
N h. guaranteed by the Delaware and Hudson
r-.arv That more than majority Of the shares
.t. T,jted Traction Company viii be deposited
'.ss- the terms Of the sale is assured
-SraRcITY OF SMALL BILLS.-Bankers report
.-o1onnced scarcity of small bills, and several
90 written to the Treasury Department urging
..rga in the currency laws that will give relief
. re sitration Concerning the matter local
s,,ksr said: Until quite recently country bankers
"a not hesitate 10 take currency that was slightly
-,uilated but practically all demands at present
are accompanied by the request that new bills be
sent In some cases We have been forced to send
an hills because We could not obtain new currency
bBt The banks generally return them TO US direct
y This talk about old currency carrying microbes
hsg had e great deal to do with the refusal of
eouutry bankers to accept anything but bills
STEEL ADVANCES.-The American Sheet Steel
and Tin Plate Company has sent out notices of an
advance Of s. d ton in cheet steel and tinplate
Tbs rise viii cause no surprise. It has been ex-
rested BY the trade for several weeks. Sheets and
tiupeie have Tot advanced in sympathy with
cher products Of finished steel. a year ago tin
pste was quoted at 50 81 per 100 pounds. as
pared with S ~ before the advance announced
Monday.
NEW AMERICAN LOCOMOTIVE CHAIRMAN.
AT meeting Of the executive committee OF the
hoard of directors of the American Locomotive
Company held here yesterday, Frederick II. Stevens
was elected chairman of the committee, which con-
ssts Of William n Barnum Pliny Fisk, Julius f.
French George R. Sheldon and Mr.. Stevens him
self M Stevens was president Of the Brooks Lo-
conOtlve Works Of Dunkirk, y. Y, prior to its
absorption by the American Locomotive Company.
He will be in charge Of the affairs OF the company
untl z successor to the late President Pitkin has
been appointed.
DIVIDEND INCREASED-The directors Of the
Atlantic Coast Line have declared a semi annual
dividend Of per cent on the common stock, plac-
ing the security on a per cent basis. This is
Increase Of 1 per cent in the annual rate. The
Increase to per cent semi annually. or to per
cent basis follows three years Of dividends at the
rate Of per cent q year. the common having re-
cefved per cent in 1903 and 1904, well as per
cent in 1906 In 1902 Sl2 per cent was paid and in
1901 the raie 22 per cent. The preferred stock
received ~ per cent in 1909. but per cent year
regularly since that date.
ATLANTIC COAST LINES NEW PRESIDENT.
r G. Erwin has retired president of the At
lantic Coast Line Railroad and T. NJ Emerson has
been elected to succeed Mr. Erwin. Mr.. Emerson
has been vice-president OF the company. and is
well and favorably known in the railroad world
J. Z Kenly has been elected third vice-president
PRODUCE EXCHANGE SEATS HIGHER
New-York Produce Exchange memberships have
sold IN the last day at S275. or an advance of
so over the last preceding sale. II IS rumored that
membership sold yesterday at $500.
APPLICATION TO LIST.-Application has been
made to list $4,000 additional first consolidated
mortgage per cent bonds of 1928 Of the Nashville
Chattanooga and st. Louis Railway Company, on
the New-York Stock Exchange and a,7340oo Mis-
sort, Kansas and Texas Railway Company first
rtfunding mortgage per cent bonds of 2o04
CENTRAL LEATHER PREFERRED DIyI-
DEND-Directors Of the Central Leather Company
have declared the regular quarterly dividend Of
"a per cent on the preferred stock.
PIG IRON CERTIFICATES-Qu Quotations for
regular at the Il a and 1 2. m. calls yesterday
compare with the final prices cf Monday as fol-