New-York tribune., 1905-03-03
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt IN
5000 shares in the local market. all purchases In
London consols steady. Russian bonds were
rather heavy. but the Paris settlement to be
passing off without incident Money easy
abroad. the Bank of England made very
strong return. showing high proportion OF reserve
TO liability and a substantial gain in bullion in
the week No reduction in the rate had been
pected well informed quarters, but IL is doubted
If the bank maintain per cent rate much
longer, with the increasing ease in money at other
centres
MARKET GOSSP-Hangarten Co were
among the most important buyers of Erie. taking
some 10000 shares. This much in line with
the purchases Of the recent past. especially the
same house bought block OF Steel common and
was conspicuous in other Morgan stocks London
was buyer and has taken a good deal of stock
in the recent past. Bull rumors current
Louisville. One is that the dividend will be placed
on a per cent basis. and the rate on Atlantic
Coast Line will be advanced 10 per cent Rela-
lively TO the other high priced stocks Louisville
has not advanced much in the present movement.
Traders. therefore. disposed to take the bull
side and to be attracting good following.
The old pool in Reading has had good deal of
success in its switch to Baltimore and Ohio. Its
operations in that stock not yet completed.
Flower & Co attracted notice by their buying
of Metropolitan Securities The Street is inclined
follow that house in any stock more less
motely associated with the Standard Oil interest
and traders bid up on the character OF the buying
H. " Whitney & Son and Clark, Dodge & Co.
were noticeably heavy sellers of United States
Steel common. each disposing of upward of 20 Oo0
shares. Erie second preferred showed notable
strength, and made of the best advances in the
days trading There is very definite talk of
dividend in what would be considered responsible
quarters. AS there is only sl6OOooo0 OF this issue
the dividend is easily practicable, requiring only
$4,000 for the full per cent for the year. The
buying is considered we'll informed. Arbitrage
houses went home long of the market. expecting
London to open higher. They are borrowing very
little in the loan crowd just now, and in the last
six weeks have probably shipped a good deal more
stock than they have received from the other side
TIME EXTENSION FOR AMERICAN ICE
STOCK DEPOSIT.-The reorganization committee
of the American Ice Company, which John +,
Borne is chairman. announces the holders of
the preferred and common stock that upward of A
majority of each class of shares of the outstand-
ing stock of the company has been deposited under
the proposed plan for exchanges for the stock of
the American Ice Securities Company on the terms
prescribed. II having been presented TO the COM
mittee that the stock is widely scattered and that
a large number of the stockholders who have not
yet deposited 'are desirous of doing. time
within which certificates stock may be deposited
with the Knckerbocker Trust Company of New
York is extended until and including March %
500" EARNINGS IN JANUARY.-Gross earn
inss of the Minneapolis. St. Paul and sault Ste
Marie for January increased S24639 while net earn
ings increased Se5o629. comparison being made
with the same period In the preceding year Friends
of the 500 company enthusiastic over the
large benefit that the company is already reaping
from It's new Winnipeg line and over the new bus-
ness that is certain to come soon as the Spokane
road is opened The latter will tap the territory in
which vast amount of traffic originates As the
company is now earning about II per cent on its
common stock. II Is said be practically certain
that the dividend 500 common will he sub
staEtially Increased next fall.
BANK AND TRUST COMPANY STATS
TlCS.-Will,am 2. Nichols & Co have issued
some interesting tables giving important stats,ics
CT New-fork banks and trust companies The sum
mary OF the years results shows that in 1904 there
was total increase In the capital account of tho
banks OF N,SNo0 and an increase in deposits q,
S'-S2Si2 Trust companies of the city ,hovre1 =
total increase in capital of 900 and a total in
crease in deposits of sos. iOO.OoO. There were Mn
new banks formed In the last year five hank p,er-
gers and four trust company mergers
NEW STOCK EXCHANGE ME,MRFR S,..-.
F. Wyckoff. with headquarters at the Office ~ 10
seph Walker Sons. was elected a member 81 ~
Stock Exchange yesterday ~
UNION PAClFIC-The amount Of Union pa.,r
convertible bonds exchanged for stock ON NJ, =,
was $4,000 The total amount now outstap5In, J.,
$4,000 Stock outstanding. NDsS7eoo "
TO BUILD \ BRANCH LINE-The T,o.,,.o- -,
Ho IFande Railroad has just closed a contract for