New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-07
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-FOregn houses dealt in
5000 shares in the local market. buying 5000
shares In London COnsols did not rally from the
preceding days decline and the foreign bond mar
kct gave indications show a change in the in
ternational political situation The general market
steady, with fairly cheerful tone. The Bank
of England did not change it's rate, and made
strong return in spite of heavy loss in bullion on
the week. The proportion Of reserve to liabilities
showed ma ked improvement last week. and
was materially higher than at this time last year
Money is likely to continue easy abroad, except for
occasional special demands. The demand for gold
In London by Paris still continues.
WILL HELP ANACONDA-The labor troubles
in the Lake Superior copper district which al
ready have thrown many men out of work. natur-
ally will serve to help the Anaconda properties
Five mines now idle in the Michigan fields. and
efforts to resume work far have been futile
Regarding the copper situation The London
statist says:
ducton in recent years. and the relatively high
price standard copper is now between Isl and f6S
ton-there is a somewhat confident feeling that
the demand will continue to be very great, and
that the high price will be maintained for a consid-
cradle period This view is based upon the knowl-
copper for electrical purposes and for shpbuilding
is increasing ana tnat even should the war in the
war material, which has recently been very great.
Russia and Japan will need to repIenish their
stocks. and at the same time the purchases of war
as the over will add further to the quantity
of copper which will be needed by the two coun-
tries
DELAWARE AND HUDSON-The $4,000 GOO
bonds of the Albany and Susquehanna which
TO be made convertible into Delaware and
Hudson stock the basis of $500 stock for each
$-OOO bonds. will replace 100000 OF per cent
and 100000 Of per cent bonds maturing next
year AS the new bonds will bear interest at 81
per cent. there win be saving in interest charges
of $2S00OO per annum. The Albany and Susaue-
hanna being leased by the Delaware and Hudson
for a rental equivalent TO payment of bond in
terest and 9 per cent its capital stock It fol-
lows that the saving is equivalent much addi-
tional annual surplus earnings for the Delaware
and Hudson 90 and equals % OF 1 per cent on the
present volume of stocks.
INTERNATIONAL PAPER.-The increase Of
100000 the preferred capital stock Of the In
ternational Paper Company. notice OF which has
been sent the officers Of the Stock Exchange
refers to stock that was authorized in connection
with authorizing the issue of consolidated mort
gage 5 per sinking fund convertible gold
bonds the extent of $l0O00OO OF this issue only
s. 10000 has been sold. Both the bond issue and
preferred stock increase, amounting TO Sl0OO0OOO
EACH were authorized at the stockholders special
meeting held November %. 1904. The preferred
stock is to be held for the conversion of all or any
OF the consolidated convertible bonds issued by
the company.
ST. LOUIS SOUTHWESTERN-S Louis South
provement IN earnings. April has opened with an
increase IN the car movement OF the company
suggestive Of another month OF decided gains in