New-York tribune., 1905-06-16
WALL STREET AND EXCHANGES.

ropETcN TRADING-Foregn houses dealt In
1000 shares in the local market all sales IN
London consols easier and the market Ior Ior
egn bonds was heavy. with lower quotations for
hotb Tananese and Russian issues. There was little
ralIvng power in the Kafir market. Being the last
day of the settlement, the final adjustment OF ac-
counts occupied attention and tended TO decrease
the volume Of trading. Money was easy and plenti-
full The difficulty between France and Germany
over the question Of Morocco exercised CONSIDER
able influence In the way restricting speculation
BALTIMORE AND OHIos EARNINGs.-The
statement Of the earnings from traffic and expenses
Of the Baltimore and Ohio Railroad, exclusive OF
controlled and affiliated lines, for the month Of
May 1905, compared with May, 1904, shows an in
crease in gross of s597 209. increase in expenses
OF S26s 600 and increase in net Of sS2756e. For
the eleven months of the fiscal year ended May 81,
as compared with the period In the last fiscal
year. the gross earnings from traffic fol-
lows 1906 SCI 921 ss4 1904, s5s 1872: increase,
81 232 712 Expenses. 1905, 4o7e7,3OA; 1904, S40-
1OS 656; increase s6Ss64s Net earnings, 1906. 321
12459O; 1904. s19.5S052s: increase. s1544O64. The
lines included in this statement the Baltimore
and Ohio Railroad Company, the Baltimore and
Ohio Southwestern Railroad Company. the Ohio
River Railroad Company, the West Virginia Short
Line Railroad. the Ripley and Mill Creek Valley
Railroad. the Pittsburg and Western Railroad Com
pany the Pittsburg, Panesvflle and Fairport Rail
road, the Pittsburg Cleveland and Toledo Railroad
and the Pittsburg Junction Railroad.
DUN'S CORN ACKNOWLEDGEMENTS to "Duns
Review from branch offices OF R G. Dun & Co.
located in the leading producing sections in
dcate that the condition of that grain is by no
means uniform. Most reports tell Of delay to plant
ing on account of excessive moisture. yet the final
acreage does not appear to have been much re-
duced that account, and In many States the
outlook IS bright for a large harvest, provided
weather conditions not below the average dur
ing the remainder Of the season. Undoubtedly the
expense of the yield will be heavy because OF the
extensive replanting necessary, but the quantity
should be large, since only small area has been
abandoned other crops substituted. Cold and
wet conditions in Ohio and Michigan are in strik-
ing contrast to dispatches from Texas. where rain
is urgently needed. Iowa news Is favorable, one
dispatch stating that the corn is two weeks ahead
of last years condition at this time. and similar
report is received from Missouri. where the acreage
is larger than in 1904. Kansas area has increased
and some fields have received the first cultivation.
AS most complaints are of excessive rain the
prospect seems favorable. because it has been the
rule in other years that drouth caused most seri-
Gus injury.
REASON FOR CLOSING FURNACES.-Four of
the blast furnaces of the United States Steel Cor
po1ation at Newcastle have been closed. due large
ly to an accident the Bessemer plant. The cor
poration will take advantage Of the shutdown by
making necessary repairs 1t is expected the mill
and furnaces will be ready for operation by July
Two furnaces OF the National Tube Company,
Wheeling. have been closed. The company is in
stallng a metal mixer in the Bessemer plant, and
this is largely responsible for the shutdown. The
present lul in certain classes of light material is
being taken advantage of by the Steel Corporation
to make needed repairs.
SUBSTITUTION OF NEW WESTERN PA
C1FIC MORTGAGE FOR OLD ONE.-The Gould
interests, it IS announced have decided to with
draw the present Western Pacific mortgage Sc
curing SO.0O0OOo per cent fifty year gold bonds
authorized by the company, and will substitute a
practically new mortgage. Since the original mort
gage was drawn the necessity OF altering many of
ifS has haar
planned to make amendments and additions which
will furnish stronger security for the bonds. The
few bonds issued under the old mortgage as a
for1naIlty are to be withdrawn and issued
in their place under the mortgage which will
include certain provisions desired by the under
writing syndicate.
ONTARIO AND WBSTERN.-The New-York
Ne"-HaVen and Hartford's sale of Sl5.O0aOOO de-
benture per cent bonds OF j. P. Morgan & Co
apparently indicates that the New-Haven intends
to retain majority control OF Ontario and Western
stock, which 1t purchased last fall IL cost New
YORK. NeW-HaVen and Hartford less than 81 900 OO0
10 get majority control of Ontario and Western
common stock in the open market 1t has bean No |
gotiating with New-York Central the Ia+tar - |
take control Of Ontario and Western nm car,oIr |
conditions.
STRICKEN FROM THE LIsT-The following.
secuIlties nave oeen stricken from the Stock Ex-
chthse hst' Detroit Southern Railway Cou1Danv |
voting trust certificates for preferrad ar, oo |
STOCK pennsylvania Railroad Company consoli- /
oateo mortgage currency per cent bonds of 1905 |
pii@'ufeo' ana temporary certificates for Japanese
D per cent sterling loan bonds second series
COAL SHIPMENTS.-Coal shipments over the |
pennsylvania lines of Pittsburr and Erie |
week ended June 10 9eo2I tons Year to date 49, |
ns.le5 tons. against 1858 s2s tons last year
CofFER hAPoFTs-Exports OF copper for the
month OF May. 3.75S TONS against IL az a year ago
Total for first five months Of 1905 1O7 7,6 tons
against T.78 the first five months of 1so4
IlLlNo2s CDNTRAL-C- b. Mcdonald