New-York tribune., 1906-04-19
WALL STREET AND EXCHANGES

FOREIGN TRADING-FOreign houses dealt IN
upward of 20cOO shares In the local market. all
sales. In London the general market was heavy.
Influenced by dearer money. which was due to
the calling by Japan of money deposit in the
British capitals for Japanese account. Paris dis
counts also hrmer while the Berlin rates
a trif1e easier
CASH MARKET IN LONDON-A movement Is
under way. II is reported, assisted by a powerful
New York banking interest. to establish such
facilities for the arbitrage houses IN London as
will make a free market for cash in stocks
and will obviate the necessity of waiting for the
London settling day. often a full fortnight from
the day OF the transaction in the London market
TO deliver stock there ship # to this side. The
method subject to many notifications, as ex-
perience directs in the Of the present sum-
mer. will be 10 establish strong bank IN London
closely affiliated with an important national bank
here. This bank will have mixed English and
American board, but American management
Its business will be to encourage the arbitraseurs
TO trade IN our stocks for immediate delivery by
granting facilities for call loans, and also to pro-
vide a good and close market IN exchange, to
expedite the transfer OF securities from one side
OF the Atlantic 10 the other.
KNICKERBOCKER ICE ISSUES BONDS.-The
Knickerbocker Ice Company. of Chicago. has fled
trust deed running TO the First Trust and Savings
Bank, trustee. to secure issue OF S6,00oo00 3
per cent refunding bonds dated February 13. 1906
and maturing 1916. Only a portion will be Issued
at this time The proceeds will pay for additional
properties recently acquired. The company has
borrowed S5OoGO0 trust notes. and some OF these
bonds are behind the notes.
STEEL ASSOCIATION MEETING.-The Eastern
Bar Iron Association. Nut and Bolt Association
and Plate Structural Steel and Rail Manufacturers
will hold a series OF meetings IN this city this
week. No changes expected AS matter OF
fact prices the leading steel articles have
maintained for several months. There is a pos
sibilty that advance IN sheet steel may be
0cAd oufn 70 he ~ ste
The bar iron structural steel. plate and rail
facturers are expected TO reaffrm the existing
schedules.
AMERICAN LIGHT AND TRACTION. - The
board.of directors OF the American Light and Trac-
ton Company a meeting held April II.
declared the regular quarterly dividends of 1ls per
cent upon the preferred stock and 1 per cent upon
the common stock OF the company. payable on May
TO stockholders OF record at the close OF business
on April n.
ROCK ISLAND REFTNDTNG 4S.-Announce-
msnt was made from Frankfort. Germany on
Tuesday OF the listing on the Stock Exchange OF
that city OF the additional s1 $4,000 Chicago Rock
Island & Pacific Railway Company first and re-
funding mortgage 1 per cent gold bonds recently
purchased by Speyer & Co.
STEEI. RAILS.-Actual steel rail orders
since the first of the month aggregate 10000 tons.
not including a large tonnage understood to have
been sold by the Tennessee Coal and Iron Company
for delivery in 1907
CANADIAN PAC1FICS BIG EARNINGS
Earnings OF the Canadian Pacific for the second
week in April Increased sS12COO. making from July
l gain OF S. $4,000