New-York tribune., 1905-04-26
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foregn houses dealt In
20 900 shares in the local market. mostly purchases
In London consols were steady and a shade
harder but japanese issues lost ground on the
uncertainty Of the Far Eastern situation. The
general market was inactive. and there is not
likely to be much trading until the new account
begins. Copper stocks failed to respond TO the
advance In the Anaconda dividend. Money was
easy except for the settlement demand. and IS
likely 70 continue over the end of the month.
r. AND o. GIVES LOCOMOTIVE ORDERS
Announcement has been made by the Baltimore
and Ohio Railroad Company that contracts were
closed Monday for 80 new locomotives, that will
cost in the aggregate. a little over &,OeOpo- the
American Locomotive Company has received a
contract to build 30 Consolidation type freight To-
comotives and thirty-ive Pacific type passenger 10
eouaotivcs Burnham. Williams & Co. CE}aldWin
Locomotive Works. receive the contract for i've
switching locomotives. The contracts call for the
beginning OF deliveries in August. and they are 10
be completed by December next. President Mur-
ray s especially anxious TO get this addluoP4i mo-
tive power in service early as possible u meet
the requirements OF the steady ana hesNS -T~leeSe
OF trafic over the system
EASTERN ILLINOIS BONDS.-The directors OF
the Chicago and Eastern Illinois have called
special meeting OF stockholders. to be held JuHe
% 1905 to vote upon proposition to authorize
refunding and Improvement mortgase' securing an
authorized issue Of 10000 per cent 5o-year gold
bonds redeeHnable at aLy time on sixty days no
tce at 1o213 and accrued interest Of the author-
lied amount $S462s.0OO are to be reserved ior re-
funding purposes, this being the aggregate amount
- bonds issued and issuable under the existing
mortgages Of the company.
UNITED COPPER-'"The Boston News Bureau
asks IL there is not something mysterious ABOUT
this conner uovement-United Copper bought by
close associates Of No Is Broadway and put up
from under SO to above SO share. with trans
actions In New-York and Boston reaching be-
tween 5000 and $1,000 shares day? And then
Amalgamated takes tumble and United Copper
hnds a ready market at around q. Houses thai
have never before been heard OF in connection With
this stock continue to buy IT in Boston and New
York and there Is no talk except for the first
time in the history OF United Copper. tape talk
United Copper's preferred per cent stock should
he a GOOD investment there is only SS.0OO0OO OF
a. ana nobody can deny but that there are good
many more millions OF value in the Heinze prop
critics than is represented by the 100000 Of value
Of the Henze stock. The $4,000 year which Is
paid out upon this stock Is less than formerly
paid out by the Montana Ore Purchasing Com
pany in dividends before the United Copper Com
pany was formed. II the price OF copper remains
at Is cents there is no reason why United Copper
should not within a year enter the dividend list.
unless II should be proposed to develop the Lex
ington out OF United Copper Company's surplus
earnings but IL is understood that the Lexington.
according to present plans Is TO be held and de-
veloped as independent property. AT the
present time the United Copper Company Is pro-
ducing ct the rate OF 100000 pounds Of copper
a year, as compared with output OF S6OOOOOO
pounds last year.
AN OPINION ON CoPPER-The president Of
a large copper producing property says:
don't believe that the price OF copper will break
IS cents, and think Il WIN be l6 cents within two
months. Within few days have been offered
by one OF the ISadlns mstal selling agencies I5l4
cents for 100000 pounds OF copper for delivery
IN June and July. which Is good enough eVidence
for that the price OF copper Is not for any
serious decline Conditions do not warrant lower
quotations
JERSEY CENTRAL'S BIG EARNINGS. Gross
earnings of the Central Railroad oe New-Jersev for
March showed an increase Of S2si6sS and net earn
ings an increase OF $22lOSO over March. 1904 From
July surplus, after charges and taxes, amounted
TO s24505o against SS6OSOa In 1904 and s. 57 st In
1903. In the nine months OF the current fiscal
year renewals. additions and improvements have
amounted 10 u.2O2s4 compared with Si95s4t IN the
same time In the preceding year
CANADIAN PACIFIC EARNINGS Earnings OF
the Canadian Pacific for the third week in April
show gain Of sl2OOo making from July ! a gain
OF p.S6S.Ooo. comparison being made with the same
time in the preceding year. This is the largest tn
crease for the period named recorded byr anv rail-
ROAD In the world Onleers of the road say that all