New-York tribune., 1906-06-08
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses dealt IN
10000 shares in the local market. most of which
sales In London consols were steady and
the general market quiet without any marked
tendency. The Bank of England made change
in its minimum OF discount. The weekly re-
turn Disappointing
ERIES GOOD SHOWING-As the Erie suffered
great loss in the transportation of coal in April
(there being a very small amount mnyD. the
showing of earnings for that month is most favor
able. It will be remembered that in the strike OF
1902 the Erie showed less loss in earnings by reason
of the cessation of coal mining than any other
anthracite carrying road This condition obtains
again. confirming the assertion that the Erie has
large and growing miscellaneous earnings outside
of its coal traffic The practical cessatioV of coal
mining in April down the coal transportation
on the Erie ~ per cent. the movement for that
month being only about 20 per cent of the normal
tonnage. a loss in revenue OF approximately
s7O1.OOO The money that is being expended on
the Erie Railroad is beginning 10 bear results in
the decreased cost of conducting transportation.
and other improvements are now being installed
which will in the future. have still more
favorable bearing that item II has also been
demonstrated that the management has the ex-
penses we'll in hand TO be able TO meet re-
ductions in gross earnings when they occur In
April, for example, the earnings decreased $780,
S27 81 and the expenses &56.OS6 g.
THE COST OF LIVING-''Dun's Index Number
of commodity prices proportional 10 consumption
was SlO6 794 June l. against Sl0S 069 month ago
May not large. il established new high record
for over twenty-five years and the miscellaneous
class which is chiefly composed of building ma
terials, rose the maximum since 1S74- The p-in-
cipal alteration in May was provided by bread
stuffs dairy and garden products Speculative op
erations in the grain markets were encouraged by
reports of injury 10 the growing crops. but top
prices maintained and the position
June l was actually lower than at the same date
last year although most other divisions showed
gains. and the net advance amounted TO more than
per cent. Prices of food also reflected the in
creased cost OF eggs and potatoes both articles OF
large per capita consumption, and consequently of
based upon a system that makes allowance for the
relative Importance of each OF the many hundred
quotations included. Metals were lower for the
MONTH chiefly because of the settlement of coal
strike which restored the usual spring discount on
anthracite. There was an advance of 10 cents on
June l. but the earlier decline did not occur until
after MAY /, when the regular winter schedule
In force Tin was forced up about 10 cents pound
but the movement was chiefly speculative. and the
gain lost before the month ended on the
whole. the variations in prices in May showed a
natural enhancement because of steady consump-
tiOn and generally sound commercial conditions.
500" EARNINGS HEAVY.-The gross earn
ings OF the Minneapolis. ST Paul & Saut Ste
Marie for the fourth week OF May show an in
crease OF sac Per cent the same week In 1885,
and the 1905 earnings ass per cent over the
same week of 1904 Similar remarkable increases
shown for the month of May the gain of 1905
over 1903 amounting TO AZ per cent top OF IN
crease in 1905 over 1904 OF SAC per The per-
centage of increase I'm gross earnings for the irst
eleven months of the fiscal year Is s34 per cent
and the like period OF the preceding fiscal year
showed a gain Of Is per over the period pre-
ceding that The fiscal year. minus a month.
shows well proportioned increases in the different
departments OF that system Earpi1ss from freight