New-York tribune., 1905-05-24
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses dealt IN
5000 shares in the local market, selling 1000
shares In London the stock market dull and
depressed. There was a disposition, both there
and on the Continent, to wait for Developments IN
America before taking any position American
stocks were we'll over parity in the early after
noon, but eased OF when the New-York quotations
began to come in. One of the disturbing features
Of tho London market was the resumption Of nqu-
dation the IIafflr stocks. apparently for Paris
account New japanese bonds were quoted at 7-13
per cent discount The Paris Bourso was heavy
and lower. Berlin was quiet, developing no feature
of interest
CANADIAN PACIFIC CROPs.-Last weeks
Canadian Pacific crop report was favorable as
could be desired. and the only note of complaint
IN It from g couple OF districts in the Red
River Valley, where the rains have had a ten
dency to set the lowlands back. AL points on tho
Western lines shown, and at each point tho
agent reports that the crops well above ground
and growing spendidly, The universal rains Of
the last week have been wonderful help, and
the growing grain is vigorous and Of a dense and
even growth.
AMERICAN LnCOMOTIVE.-Accordin to the
information received from interests identified with
the American Locomotive Company, the idea Of
paving q dividend on the common stock in the
present year has been abandoned. The company's
directors are extremely conservative, and while
earnings are large enough to warrant dividend
It is thought in official quarters that for the
year. at least it Will be better TO place sur
plus earnings in the property rather than in divi
dends the common stock
UNITED STATES STEEL.-The net earnings
Of the United States Steel Corporation for the first
six weeks of the present quarter estimated at
little under S15000OOo This compares with approx
nateIy Ss.ssOoO0 for the corresponding period last
year. and with S19 90725 net earnings for the entire
second quarter Of 1904
COLORADO AND SOUTHERN REFUNDING.-
Inasmuch the control Of the Colorado and South
Railway Company IS owned by a few promi-
nent railroad men, there will be difficulty about
securing a majority vote in favor Of the PROPOSE
ton of the directors to Issue s10OG0O00 refundng
and extension mortgage. The special meeting of
the stockholders to this question will be
held June 15 in Denver.
NO CAUSE FOR ALARM.-A careful canvass
among the banks and trust companies discloses the
fact that prominent financial interests are not ap-
prehensve OF any further unfavorable developments
banking quarters at any point.
NEW-YORK STATE BANKERS CONVEN-
TION.-Preliminary arrangements for the annual
convention of the Nsw-York Bankers Association,
which is to be held on Thursday and Friday, July
Is and H. at the Hotel Frontenac Thousand ISL
ands. st. Lawrence River, have been completed.
Among the speakers will be Sir Wifrid Laurier,
Premier of Canada Myron 7. Herrick Governor
of Ohio. and S. r. Flynn. president of the Live
stock National Bank Of Chicago.
WHEELING AND LAKE ERIB-At the meet
ing of Wheeling and Lake Erie stockholders in
Cleveland the bond issue of S5O00O0O for improve
authorized.