New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-24
WALL, STREET AND EXCHANGES.

WALL, STREET AND EXCHANGES.
--.-,,,C,,- rRADING.-Foreign houses dealt in
x O0o shares in the local market most oA "liOl4
raDresented sales. In London the general ilaIAe1
was duh at unimportant price changes, 49,
Was in fair demand the British capital but there
mas no change in discount rates. 1t Is thought
that foreign quotations for money VIII grow
stronger in the next few weeks.
CURRENCY MOVENIENT-The reported move
rronts Of currency this week indicate a gain IN
.,-t bald nv the banks of $566,7O0 They received
from the interior S. SsS3O and sent 70 the interior
Sc 2S COO including transfer through the SuD-Ireas
urv Of 100000 TO San Francisco for United states
dfsbursing officers $4,000 to Cincinnati and S2lZ-
ofO national bank notes sent to Washington for
raderonton The gain from the interior $62,IIO
Receipts of new gold we're H644,6O0, namely, S'S@On
gold imports S7401OO on New York Assay once
checks $50 500 on San Francisco Mint checks and
telegraphic transfers and $4,000 on Seattle Assay
Office checks. Ordinary disbursements by the Sub
Treasury were 81, GO 100. Payments by banks to
sub-Treasury for customs, internal revenue, . per
cent redemption fund, etc. were S25'ooOuO Inc loss
on Sub-Treasury operations proper was Sl'oS0'0o'
The total gain from the interior. SO2,1oO and new
gold 81 644 800 was S22f730O. Deducting from this
the loss on Sub-TreasUry operations proper S. $50
600 the net gain was 1866 100 Receipts OF currency
from the interior were about $4,000 more than in
the preceding week, and shipments also exceeded
those of the previous week by d4OL0o0 Receipts
were chiefly from nearby and Eastern points and
from the South. The bulk OF the shipments were
to nearby points. The transfer through the Sub
Treasury late in the week Of 100000 TO Cincinnati
seems to have been in connection with the spring
planting
CANADIAN PACIFTC.-Sir Thomas Shaughnessy,
president Of the Canadian Pacific Railway, in reply
to the English journals which have criticised the
action of the Canadian Pacific Railway In issuing
new stock at par instead Of at premium, says: The
shareholders Of the Canadian Pacific Railway are
paying a premium the new stock by an ap-
preparation from accumulated earnings OF % per
cent Of the amount Of the issue. 1t is not the
practice Of the Canadian Pacific Railway to dis
tribute it's entire net revenue each year by way Of
dividends, and report this year will show that
we have a large accumulation OF surplus earnings.
On this account there is no reason why the share
holders should be asked TO pay further premium
on stock for the company's purposes.
CARAMEL ELECTION AND DIVIDEND.-At
the annual meeting Of the stockholders Of the
American Caramel Company held recently, the
only change made in the board Of directors the
election Of W. +. Dunspaugh, Of Beaver, Penn, in
place Of Frank Haviland resigned. Mr.. Duns-
paugh is a director of the American Sewer Pipe
Company. The board organized by electing d. F.
Iafean president, W p. Rice vice-president and
Stuart b. I.afean secretary and treasurer. The
directors declared the regular quarterly dividend of
IL per cent on the common stock. payable May l,
and an extra dividend of y Of 1 per cent payable
May l. AS the company paid y Of l per cent extra
dividend on February l last in addition to the reg
ular quarterly dividend the common stock is re-
garded as on a basis Of per cent year.
CINCINNATI. HAMILTON DAYTON PRO-
TECTIVE COAINITTEE.-The protective commit
tee Of the Cincinnati, Hamilton d Dayton note
holders has decided not to extend the time Tor the
6eposlt of notes under the protective agreement
which expired with the clos, Of business yesterday.
The committee has received considerably more imam
a majority of the outstanding notes.
TIN, ..NIICKEI, PLATE" BOND ISSUE. P.
Morgan & Co. confirm the report that they nave
purchased 100000 per cent debenture bonds Of
the New York Chicago & St Louis Railroad Com
panv due 1881. These bonds were authorized at a
meeting Of the directors OF that company February
Ia last The proceeds from the sale Of the bonds
will be devoted TO the purchase Of equipment, i'm
movements and for other corporate purposes in
general The Guaranty Trust Company IS named
as trustee. 1t is understood that no arrangements
have yet been made for syndicating the issue, nor
has It been determined just when the bonds Will
be offered for sale TO the public.
GRAIN EXPORTS FOR THE wEEK-"Brad-
streets reports the exports OF grain for the week
with comparisons figures in bushels. follows:
Wheat -four included, 2293O12. against 2O1O2s7 last
week 1O595 in this week last year sol S5 in 1904
and 240l 1896; from July l. lOl as SOL compared
with 466437O6 last year. u4732 2S4 in 1904 and no.
$50 65 in 1903 corn 317S26 contrasted with 2S352S2
last week. 2976S $50 in this week year ago 1527676
IN 1904 and S61S.21O in 1893 from July l. 90 1890
against 1921 in 1905 4406So56 in 1904 A $50
IN 1903.
SOUTHERN BELL TELEPHONE.-The South
ern Bell Telephone Company has increased the
amount OF us outstanding STOCK from 100000 TO
S5OO0OO0 Stockholders of the company recently
authorized an increase OF the capital stock from
100000 to SSoo01o0o out OF this latter increase
or authorized stock 4O00O0O has been issued bring
Ing the total outstanding up to Sl5OOOOOo
UNITED RAILWAYS INVESTMENT meat
ms OF the directors Of the United RAILWAYS Invest
ment Company OF San Francisco has been csIIad
for to-day A director says It is expected that ac
ton will be taken In regard to the payment OF the
back dividends on the preferred stock He further
says that the question OF placing the common
stock on a dividend basis may be considered
GREAT WESTERN To ISSUE NOTES-Tba
Chicago Great Western Railway viii issue 81 O00 ono
in hve-year notes for the purpose OF an immediate
purchase Of 1000 additional freight cars The pras
dent OF the company has secured authority from,
the directors 20 spend $500 OO0 for double tracki
part Of the Eastern divisions.
NATIONAL LEAD.-An additional 50 IA $40 ~
preferred stock and $. 10000 OF common stock 30
the National Lead Company has been admitted 10
quotation in the unlisted department OF the New,
York Stock Exchange
CORN EXCHANGE BANK.-The Corn Exchange
Bank OF New York has decided to extend its sys-