New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-08
WALL sTREET AND EXCHANGES,


n o0) shares in the local market, buying heavily
on balance. In London the general market was
5llI while similar quieness prevailed on the Con-
tinental Bourses. AS rule prices were heaVy'
There was no change OF InpoIIdnc III '4'0 ~
eign money markets
EARNING POWER OF COTTON BELT."-St
Louis Southwestern Railway officers say that their
road will soon enjoy large increase in trailc Inc
real earning power of the property Will he SHOWN
for the first tine this year. Last year it was eX-
pected that the road would show what 1t could
do but in the last quarter disastrous floods inter
fered with the effort. This year there is clear
field for large earnings New equipment IN eX-
tensive quantities has been installed ana Is 1uIiy
employed The winter wheat outlook is 20 per
cent better than it was this date last year anu
business is active throughout its territory 1t IS
expected that the full per cent will be shown
earned on the preferred and per cent on the
common April earnings should show an IN
crease Of nearly $4,000.
CANADIAN PACIFIC.-The Canadian Pacihc
Railway Company had 2.34S stockholders on its
books March / 1906 This compared with 2o.4lS on
September 1904 a total Increase Of 925 in the half
wear Within three months the appreciation or
Canadian Pacific stock in the New-York market
has been pronounced and rapid, its progress oelhg
based on the present good business and the pros
pective great developments both as to property
and traffic 1t is pointed out that Canadian Pacific
earnings for the fiscal year ending June 80 viii I'M
doubleday make a good showing in both gross and
net. This is practically insured by the figures
showing eight months operations, which compare
follows:
Gross earnings 4eosle $50 s44g59 Inc So JI5ss7
Net ........... s9sG95S7 Sa1Os.242 Inc s761,s45
Last year the fixed charges of the company were
$7s16O 96 Of which $4,000 was for account of pen
sions and $4,000 the yearly appropriation for
steamship account. AS to the latter charge the re-
turns from the new vessels now being built should
soon affect it, The Supreme Court of Canada has
ruled that the Canadian Pacific Railway has power
to build the SudburyTorontO Branch without ap
plying to Parliament This is an important victory
for the Canadian Pacific Railway.
NATIONAL LEAD.-The advance in National
Lead common stock to 80 involves an appreciation
of than 100 per cent in the market value OF
that issue within the last three months. Both the
preferred and the common stocks selling far
above preceding high records. There are $15OOOOOO
preferred stock and SIS 100000 common stock out
standing. The preferred is entitled to per cent
cumulative dividends. There bonds. The
appreciation in the market value of the common
stock since 1903 has been about 100 per cent and in
the preferred stock nearly so per cent. The pre-
ferred stock has paid regular per cent dividends
since the organization of the company 1891. The
common stock paid per cent in 1898. per cent in
1884 l per cent in 1895. l per cent annually from
1895 1900. and nothing since
INTERNATIONAL POWER.-The lowest bid
made for supplying the Navy Department with
eightysx S-inch guns Cthe largest contract OF the
kind ever let by the government was made by the
American and British Manufacturing Company.
controlled by the International Power Company.
This company is bringing out a semi-automatic
rapd-1re S-inch gun which is a great advance over
anything heretofore made in gun OF that size. II
fires thirty fourteen-pound projectiles a minute.
CURRENCY MOVEMENT-The reported move
ments OF currency this week indicate a gain OF
SECS eco in cash held by the banks, The received
the interior $4S1s4OO. and the interior
S3isSsOO. including 81 550o0 national bank notes TO
Washington for redemption. The gain from the in
rerior was S132950O. The total gain from the in
terror 81 500 and gold $S765OO So $50:
deducting the loss subtreasury operations prop
err 81. 500, the net gain $633.50O
DELAWARE AND HUDSON.-A special meeting
of the stockholders Of the Delaware and Hudson
company will be held in New-York May g. at Has
a. m. to act the question OF increasing the cap
tal stock in the Of 5000 shares and to ap-
prove the making of a modified lease by the COM
pany of the railroad property and franchises Of the
Chateaugay and Lake P.aeid Railway Company.
GRAIN EXPORTS.-'Bradstreets reports the
exports Of wheat including -four for the week at
SSsM7 bushels against 9ss 60 bushels last week and
1s54Ol0 bushels last year; since July l. $3.50 SiS
bushels. against n7.S53714 bushels last year Corn
3366347 bushels against 24SoC52 bushels last week
and LOS 907 bushels last year. since July l. 5S4
bushels against A. 1915 bushels last year
NATIONAL ENAMELLING AND STAMPING
An officer Of the National Enamelling Stamping
Company says that since the conf9any issued its
last annual statement it has reduced its bonded
debt $4,000 so that the present time the bonded
indebtedness amounts to N,7500C0. These bonds are
redcemable at the rate of $4,000 on September
OF each year until retired the next redemption
period for a like being September OF this year
CHICAGO GREAT WESTERN.-Two local bank
ing Arms have purchased Sl2,0oOOoO Mason City and
Fort Dodge first mortgage per cent bonds. secured
the Omaha main line OF the Chicago Great West
ern Railway Company.
ANTHRACITE OBSERVATION-DISCLOSURES oAal tau