New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-03-21
WALL STREET AND EXCHANGES.

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$1,000 shares in the local market buying l5'oo
shares on balance. In London consols were STEADY
and there 2 firmer tone in Russian pohas on
the definite peace rumors current Inc generdl
market was cheerful and little attention was paid
to the irregularity in this market on Saturday.
There seemed to buying orders in the market
from New-York Money plentiful. with no in
dcations of hardening. although the failure of the
public to take up the Johannesburg bonds offered
was something of disappointment.
RECORD PRICE FOR CANADIAN PACIFIC
Canadian Pacific stock made a high record
price In yesterdays market, selling at 80. gaining
for the day nearly per cent. The shorts were
active buyers, but they found it difficult to cover,
except at loss, the supply of stock avail able
for their purposes was extremely limited The
people who the largest holders Of the issue
have been predicting bad days for the shorts. and
incidentally they have asserted that the issue will
sell on its merits many points higher. Compared
with other shares of similar merit, Canadian Pa
cifc is not at all dear and. in view of the COM
pany's enormous holdings of mineral lands. which
appreciating rapidly. and the discovery OF new
oil lands in its territory, it is not surprising that
local and foreign capital is moving into the stock.
HEAVY GAINS IN 800" EARNINGS.-Earn-
ings of the Minneapolis. St Paul and Sault Ste.
Marie for the second week in March show gain
of $4,000 making a gain from July OF nearly
81 100000 The shares of the company among
the strong features in yesterdays stock market
and higher prices were talked Of. especially for the
preferred which is selling under most other issues
of equal worth 1t is contended that the preferred
ought TO sell as high Great Northern preferred,
and any who considers the position of the
property will ample for this contention.
DELAWARE AND HUDSON FINANCING
Stockholders of the Albany and SusGuehanna Rail-
road have been notified of special meeting which
is to be held in the company's Office IN the Della
ware and Hudson Building. in Albany, April Z, for
the purpose Of acting upon proposition to con-
sent to the company making new mortgage upon
It's property for 100000 to issue of 35
per cent forty-year gold mortgage bonds of a like
amount bearing interest from April l. 1906 the pay
ment of the principal and interest of which is to
be guaranteed by the Delaware and Hudson Com
pany The new bonds for the redemption OF
the 100000 first consolidated mortgage bonds
of the company, bearing interest at 6 and per
cent and maturing April l, 1906. The proposed
new bonds to be issued under an agreement
that whenever the Delaware and Hudson Company
shall surrender to the Albany and Susquehanna
any of the new 31as to be issued the latter COM
pany will issue to the Delaware and Hudson in lieu
thereof. an equal amount at par of per cent pre-
ferred stock of the Albany and Susquehanna Com
pany guaranteed by the Delaware and Hudson.
and that the bonds so surrendered shall be cam
ceued Stockholders are also to vote to authorize
an increase of the companys capital stock of SlO-
100000 which may be used at par as intimated in
retiring an equal amount at par of the proposed
new bonds At the time authority is to be
granted the Delaware and Hudson Company to
issue the new stock par IN the first instance in
lieu of the proposed new bonds If the company so
elects
ARIZONA CONSOLIDATED MINING COM
PANY-The directors of the Arizona Consolidated
Mining Company who made trip to the mines re-
Gently have Just returned and express great salts
faction at the progress made at the different mining
properties there The Old Orc Blanco group, the
Tres Amigos and SorreI Top. the Banner group.
Blue Bell Banner and Mckinley all said to be
doing we'll. The results obtained by the operating
of the testing plants on the three groups of low
grade gold claims the directors say. have demon
strated beyond dispute the great value of the prop
critics the value of the ore in the low grade
gold group being 81 a ton.
REPUBLIC IRON AND STEEL4-Directors of
the Republic Iron and Steel Company will meet in
a few weeks and the question of paying the back
dividends on the preferred stock will be taken up
In the fiscal year ended June 30 last only one quar-
terly dividend the preferred stock paid. BY
June 80 1903, therefore, there will be back dividends
on the preferred stock equal to 1214 per cent.
BIG FOUR'S FUTURE--One of the stories cur
rent on the Vanderbilt group is that the first an
nouncement will be made In connection with Big
Four 1t is said that the intention Is to place Big
Four on a per cent basis and then have it alb
sorbed bv Lake Shore against collateral trust
bond.
INCREASING CIRCULATION.-A large percent
age of the government bonds released to the banks
on March 10. when Secretary Shaws call for $780,
900 became due. have been used by the banks as
basis for increased national bank circulation.
MASSACHUSETTS STATE BONDS.-The synd-
cate comprising Blake Bros. & Co.. Harvey Ffske
& Sons and Vermilye & Co, which purchased the
a3l2.00G Massachusetts State bonds last July on 4
324 per cent basis has disposed OF practically all
OF these bonds on 800 per cent basis
NORTHERN SECURITIES MEETING.-The ad-
journed annual meeting of the stockholders of the
Northern Securities Company was again adjourned
yesterday. until tomorrow morning at II o'clock
officials of the company say that the adjournment
for only two days. instead of a week as heretofore
is absolutely without significance.
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