New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-07-14
WALL STREET AND EXCHANGES.

FOREIGN TRADING-ForeIgn houses dealt in
1000 shares IN the local market. buying $1,000
balance. In London consols were noticeably firm
at $685. and advance OF S-16 per cent and there was
a decidedly better tone IN the Kafdr market Jap
anese bonds firm on the success of the new
issue. The Bank OF England did not change it's
rate. and made strong return, showing high
proportion OF reserve to liabilities AS the settle
ment demands are now completed. money should
rule easy up TO the end OF the month. and is not
likely to harden materially before the latter part Of
August There was change IN the international
political situation
MARKET GOSsIP-Dick Brothers executed the
principal buying orders In ST. Paul, and number
Of houses credited with Standard OIL connections
were also purchasers. There was in fact little
too much implication OF buIshness at No % Broad
way IN the general business to satisfy the floor
traders. who are always suspicious when such evil
dence is too obvious A canvass Of about fifty OF
the active commission houses made in the last two
days show that good deal more stock being car
ried for customers than might have been expected
Western customers have in recent times taken UP
purchases and carried the stock with out Of town
banks. There is good deal less stock paid for In
this way than there has been for a long time past
There is quite good bull account open in Erie
Reading. Pennsylvania. United States Steel and
Union Pacific The selling OF Tennessee Coal and
Iron in the day probably represented the remainder
of the pool stock 1t is thought the speculation has
been a successful one buying for the pool start
ed about 81 and good deal OF the stock was mar
keted above 90.
BALTIMORE AND oHIo-The Baltimore and
Ohio earnings for eleven months have increased
nearly per cent over those of 1894. and the last
month of the year is likely produce figures which
will make record annual showing The ratio Of
operating expenses to earnings this year than
last. and the company's other income in the year
was increased somewhat by the dividend on Read
ing common, Of which the Baltimore and Ohio IS a
large holder The balance. after paying all
charges last year. was S1OSSS. 900. and after per
cent dividend on the common shares the balance
was S5.414.OO0. The amount applicable to dividend
this year may be as much as S12OOOO00 as the net
earnings for eleven months are S1.544.OOO ahead Of
those of 1904
STRUCTURAL STEEL-So far this month the
new business placed the books Of the American
Bridge Company aggregates 80 900 TONS and there
is a possibility that the tonnage this month will
be as large as in the preceding month when IL
reached 10000 tons. BY the close Of this month
the American Bridge Company will have booked
approximately 26O 900 tons OF structural steel The
untitled tonnage on the books OF the company is
sufficient 10 keep the structural rolling mills in
operation all year.
HANDBOOK OF RAILROAD SECURITIES =
The July edition Of The Handbook OF Railroad
Securities compiled by the publishers of "Tba
Financial Chronicle" is now ready The book con-
tains in a small compass full information concern
ing the various railroads and the leading Indus
trials whose securities dealt in on the New
York Boston and Philadelphia stock exchanges r.
q
of years. present fixed charges and also thu
amounts OF the different issues OF bonds outstand
ing. their rates OF interest. etc There IS also
given the monthly range of stocks and bonds for
1894 and to July l. 1905, together with a YEARLY
range for six years. Price 81. or to Chronicle
subscribers IS cents
AMERICAN STEEL BOUNDARIES Is an
nounced that the details OF the American Steel
FOundries' financial plan will be made public newt
week II involves bond issue OF Sc 0CO 900 OF
which amount S100O.0OO will be used to nav off the
loan involved in the ACQUISITION Of the Sirplav
Railway Appliance Company. a representative ~
the company states that more working cauitaI has
been made necessary by the heavy increase in ths
business of the corporation
BUFFALO AND SUSQUEHANNA RAILROAD
The Buffalo and SusQuehanna Railroad has as
tabished new and somewhat novel indust-,.
which promises 10 be a good freight contributed
Just north Of Galeton. Penn. the main line a
mountain of sandstone is being developed com
mercially The stone is of particularly fine
quality and almost unlimited in quantity After
being from the top of the mountain the stone
is lowered by endless chain directly into the cars
of the Buhalo and Susquehanna-
GULF AND SHIP ISLAND RAILROAD FxDor1
lumber To the Of I6515 0O0 feet was s,tDral
the Gulf and Ship Island Railroad IN the
month Of June. The total amount OF export rIpober
shipped in the hscal yea- eldcd June 80 las
amounted To s2s,octt51 feet az aEatnsF Yea
c1fosrl feet in thu preoe1ic- ~.
SOC" LINE CBOFS-sa tnlc~~ a.. N, 500.
Line says $40 niorg ,he North Dalo.a lire eou,s
scarcey be better ae y5- sisua lecslse Is prom
Used Ter the ian
El.IES PRESIDENT 4 PHENJX RAN-E D.
Observation-Disclosures d Underwood. president OF
the Erie Railroad, mas been elected director OF the
Phenix National Rank. NJ No 10 Wali-st