New-York tribune., 1906-05-19
$500 Total sales.
WALL STREET AND EXCHANGES.

WALL STREET AND EACHAMGES.
FOREIGN TRADING-Foreign houses dealt in
10000 shares in the local market. most OF which
were sales In London the general market was
steady and trihe harder Money was easy in all
the foreign capitals. with Indication Of i'm
mediate change in the direction Of higher quota
tions.
MOVEMENT OF CURRENCY-The local banks
have lost i'll the current week SZ54OO in cash hold
inGs. They received from the interior S8550SO and
sent 10 the interior S2ISOO. including transfers to
the SutTreasury OF IS Sz74OOO to San Francisco and
$4,000 to New Orleans. Shipments also include
SlSSO,OOO national bank notes sent TO Washington
for redemption. The total loss by Of special
United States deposits and Sub-Treasury Op-
eratiOns proper was S7.6i3sOO. DedUcting from
tkis the total gain from the interior and gold
of $17iOs.4OO makes the loss $2S5.4DO Receipts
OF currency were mostly from nearby and Eastern
points. Receipts were about S625.OO0 more than in
the preceding week, while shipments Sl25O.OOO
greater
THE COPPER SITUATION.-Leading producers
Of lake copper have raised the market quotations
to 1S7s919 cents Some sales being made at
the 1s-cent level. while within the last few days
about quarter OF million pounds have been sold
at 1875 cents. One firm is maintaining spread of
1S&Gl5 cents its market Il is stated that pro-
ducers and large selling agents paying strict
attention to whom they dispose of their cop
per- and that it would be impossible for any third
hands to obtain sufficient metal with which to
the trade. says large consumer.
SPECIAL CLEARANCE OF INTERBOROUGH-
METROPOLITAN CONTRACTS. - The Clearing
House Of the Stock Exchange has issued the fol-
lowing notice: There will be a special clearance
Of ACKNOWLEDGEMENTS contracts when
issued. on May D Sheets must be delivered at the
Clearing House at before p m on that date
A separate sheet must be used for bonds preferred
stock and common stock Contracts made prior to
January 26. 1896. will not be cleared
LOCOMOTIVES COMMON NDIVIDEND-DesDita ita
the positive reports which recently have been cir
culated in the Street, intimating that the American
Locomotive Company will begin dividends on the
common stock at the meeting OF the directors next
month, it may be stated the authority OF a
director that decision has yet been reached re-
garding dividends. and that the chances of divi-
dend payment more favorable for the fall than
at present.
GRAIN EXPORTS FOR THE WEEK.-'Brad-
streets reports the exports of grain for the week
with comparisons. figures in bushels. as follows:
Wheat flour included. 27l6.7SS against 2142O62 last
week 1.5l255O in this week last year. 1257SS in 1904
and 5S9S.SS in 1903; from July 1. 1lS4S4 S94 com
pared with 56OO4 year 124S77 O64 1904 and
1996S1 lSl in 1898. Corn 1O97O6 against 15734O last
week. 16SS.299 In this week year ago. 1887 in
1904 and 1s14lS6 in 1893; from July 1O6 S con-
trasted with 7S1s5,O4 in 1905. 4s6S744S in 1904 and
60 l91, ,26O in 1903.
CANADIAN PACIFTC'S ENORMOUS EARN
INGS.-Earnings OF the Canadian Pacific continue
to show extraordinary gains. for the second week
in May the increase amounting to $4,000 From
July there has been an increase Of S9.5O5.s25 and
the chances are that for the fiscal year the total
increase in gross will amount than 10000 COO
NEW METAL EXCHANGE AdEMBERS-Ths
following have been elected members OF the New
York Metal Exchange: John X. Erskine IT,. presi-
dent of the Standard Copper Mines: John R. Stan
ton treasurer of the Wolverine Mohawk Atlantic
and Michigan mining corypanies: ]. Wheeler Hard
ley. secretary of the Wolverine. Mohawk, Atlantic
and Michigan mining companies. and W. Parsons
Todd, of the Quincy Mining Company.
ADVANCE IN LIGHT RAILS.-The Pennsyl-
vania Steel Company has advanced the price OF
light steel rails 2 ton due to the excessive de-
mand. Considerable competition in light rails ex-
lists Unlike standard section rails the mills are
allowed to make their own quotations.
BUTTERICK COMPANY REPORT The But
terick Company reports for the fiscal year ended
December 81 last: Gross earnings. S7O2.ll2: ex-
penses preparing for and loss from strike S65sl3;
net earnings $636299; dividends. $4,000: balance.
$l5699 reserve. $OSSO; surplus 5n9; previous
plus. $S7S.S20: total surplus. $954SS9.
NEW DEPOSITORY BANK. - The Union Ex-
change Bank OF this city has been designated by
the Banking Department OF the State OF New York
depository for the lawful money reserve of
state banks and trust companies conducting buSi-
ness in this state
UNITED STATES STEEIsS EARNINGS - Ac-
cording TO report from Philadelphia. the present
earnings OF the United States Steel Corporation are
the largest In its history, being at the OF up
ward of 5 per cent on the common stock.
ATCHISON'S EQUIPMENT EXPENDITURES
II IL, Is understood that the management OF the
AtchlSon, Iopeka Santa Fe has authorized the
expenditure OF $S,OO00OO for new equipment
BAR IRON PRICES UNCHANGED-The East
ern bar Iron Association at its meeting this city
ule.
STEEL RAILS-The Chesapeake & Ohio ms
purchased an additional 1890 OF steel rails
for delivery in 1907 ~
ELECTED DIRECTOR.-Wilianl NIohr OF The
sII atm OF Mehr. Hanemann q Co. has been elected
director of the Mutual Alliance Trust Company
RUBBER COMPANY ELECTION-The new
board OF directors OF the United States Rubber
company organized yesterday by re-electng the Old