New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-17
WALL STREET AND EXCHANGES

shares in the local market In London corsols were
unchanged. and there no feature in the foreign
bond market. There was better tone in the Paris
bourse. indicating that the anxiety arising out Of
the death Of Hirschheim the Spectator whose ac-
count was liquldated Monday had subsidized.
Money was in good supply. and financial condi-
tons were reported generally tranquil
LONDON BULLISH.-"The London Statist'
makes the following comment the American
market:
1t is probable that the liquidation has pro
ceeded far enough and that If the recovery that
Movement before very long We shall see decided
advance. 1t is never to be torgotten that inc
excellent that the promise Of the crops just now
is exceedingly good; that all industries are pros
ditions affecting the stock markets are favorable
increase in the surplus reserves shown by the re-
expectation is FULFILLED, one Ct the cCntrbutory
causes OF the recent decline will be removed After
Conclude that the liquidation been carried near
ly far enough If to this be added that money WI
new, isSHcg have been on an enormous scale in Now
VOL, diIying the last four months, and it Is also
true that the new issues will continue. and for
very large sums. These issues may prevent re!e-
tttion Of the speculation which We have just wit
messed Still. there will be steady recovery ior
at bottom ali kinds of business are sound ana theFe
is no want of confidence
A BRITISH VIEW OF CANADIAN PACIFIC
London Truth" says;
One point in connection with Canadian Paci L
developments which has not received the prom
inerce it deserves is the increase and the potentia-
ties Of the Orient TRADE and No r6p6seS R the cana
dian Pacific interests, but in this one matter OF
nary plans afoot And it is 10 small, extent
based this that investors have recently Deen en- SO
ciS is the largest landholder in the Northwest Its
land grants ordinarily estimated at about l60000oO
acres include 25,O00O00 acres. 1t owns 10 square
miles around Egg Lake, Alberta. where recent OIL
discoveries have created excitement. great part
these lands have current selling price OF aS 40 t
Sc acre for agriculture! purposes eXcuslve ot Oh
and mineral rights but the company is RESTRICTING
ruling across the United States border, where sim
liar wheat area brings $35 and $40 an acre. The
Vancouver, land heavily timbered and underlaid
with coal, copper and iron this vancouver hSIaho
ssoson the Canadian Pacific is to disclose. Taking
into Consideration its equal joint ownership with
the Great Northern of the famous crow Nest CoaI
properties and its requirement of an adJoinihg
estimate that the Canadian Pachcs agrlcuitUfFa'I
and mineral land ownership alone Will reach far
toward 500 100000.
DIsTILLERs sECURITIEs.-The object in dis
solving the Standard Distling and Distributing
Company controlled by the Distng Company
Of America which is in turn controlled by the
Distillers Securities Corporation. is cut down
the expenses Of maintaining such an organization
and concentrate operations Some time ago the
Spirits Distributing Company. also controlled by
the Dstilling combine. was dissolved so that when
constituent companies of the Distilling Company
of America will have passed out of existence. It
is authoritativey stated that there will be a con-
siderable Favng to the parent company a result
Of winding up the affairs of the Standard COM
pany The price between the combination
and the independent manufacturers of spirits has
practically ceased, as the result of recent con-
ferences.
Deputy Assistant United States Treasurer George
". Marion yesterday began his forty-hrst consecu-
tive year Of service the local Sub-Treasury Mr.
Marion entered the government service on May t.
1863
ST. LOUIS SOUTHWESTERN.-S Louis South
western Railway advices are that although the
rains have been severe throughout Missouri Ar
kansas and Texas, only some small washouts have
been oCcasiOned-nothing serious The rains have
ceased ana repairs will be made to the road
way
TENNESSEE COAL AND IRON ORGANIZA-
TION.-At a meeting of the directors of the Ten
nessee Coal iron and Railroad Company held in this
city yesterday, the following officers were elected
for the ensuing year: D. II. Bacon. chairman If
the board of directors; S. S. Witherbee first vice
president; l. 7. Beecher, second vice-president:
l.. Hoover secretary and treasurer and II r
Sloat. assistant secretary and treasurer