New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-05-23
WALL STREET AND EXCHANGES.

FOREIGN TRADING-Foreign houses were not
active in the local market. their transactions
amounting to about 10000 shares. mostly purchases
In London the general market was dull and feat
ureess. while similar conditions prevailed In the
Continental markets. Money was easy abroad
STEEL RAIL PRICES.-Representat OF the
leading steel rail- manufacturing companies saw
there Is no basis for the reports that have been
freely circulated that an advance IN rails from SOS
a ton would be made in the near future. The
price has been fixed at SOS ton for 1897 by the
United states Steel Corporation, and other North
ern mills are selling at that figure. Light rails
are selling above the standard rail quotation but
no agreement exists among manufacturers OF the
former and they can make their own price
CENTRAL LEATHER.-The quarterly meeting
Of the Central Leather directors scheduled for
yesterday, at which the preferred dividend was TO
have been acted upon. has been postponed for one
week. owing to the lack of quorum The quar-
terly meeting Of the United States Leather di-
rectOrs controlled by the Central Leather has also
been postponed for a week for the same reason.
FEDERAL MINING EXTRA DIVIDEND.-The
directors Of the Federal Mining and Smelling Com
pany have declared the regular quarterly dividend
of ia per cent the preferred stock and the reg
uar quarterly dividend of rs Per cent and an extra
dividend of 2's per cent the common stock all
payable June Is.
SUB-TREASURY TRANSFERS-The local Sub
Treasury transferred for New York banks $lS2 100
san Francisco. and the banks returned to the
government s4S6O6 which had been deposited
against gold imports. The Treasury Department
authorized the transfer from San Francisco TO
New York CT Sl.00OO0O foreign gold which was due
to reach the Pacific Coast yesterday.
INTERNATIONAL NICKEL CONPANY-At tire
annual meeting of the stockholders OF the Inter
national Nickel Company, held yesterday. the re-
firing directors reelected The report for the
year ended March 81 showed net PROFITS. after de-
dueiing expenses. depreciation. bond sinking fund
and all other charges. of Si.022,l1.
ELECTION OF TENNESSEE COAI. AND IRON
OFFTCERS.-At a meeting OF The board of d.
rcCtoYs of the Tennessee Coal and Iron Company
President Topping was elected chairman Other
officers elected were Frank n CroCklrd. vice
president ard general manager, I. Hoover, score
tary and treasurer. and T. NJ Nes6itt assistant
treasurer
PERMISSION TO ISSUE BONDS REFUSED
The Texas Railroad Commission has refused 70
permit the Missouri. Kansas & Texas Railroad 70
issue bonds 20 the amount of S25OeoO0 is Texas
lines and to tak, up outstanding issue Of about
IS 0C00 eco OF bonds.
The directors OF the Republic Iron and Steel Com
Of Ia per cent on the preferred and per cent
COTTON EXCHANGE MISREPRESENTATION last
sale OF 2 New York Cotton Exchange membership
was at $eO00 and 1t Is understood that there only
one or two Offering az present
RAIL ORDERS.-The Illinois Central has closed
contract for 1000 tons Of steel rails for delivery
SECRETARY or TRUST COMPANY RESIGNS
Charles Baker, II, who has been tor q number OF
pany. has resigned. He viii become associated with
charles l. vaughan, under the arm name Of Baker
4 Vaughan. and will deal in curb securities.