New-York tribune., 1906-04-05
WALL STREET AND EXCHANGES.

WALL STREET AND EXCHANGES,
FOREIGN TRADING Foreign houses dealt in
5000 shares IN the local market all purchases the
heaviest dealings being in Union Pacific. In Lon
don the market generally firm, and IN the
American department large buying was reported for
New York account There were no material
changes IN the foreign discount markets
COLORADO FUEL AND IRON.-The Colorado
Fuel and Iron Company has decided to issue $780,.
co Of its stock and 100000 OF the per
cent series bonds Of the Colorado Industrial Com
pany and give IT'S stockholders the right TO sub
scribe 10 them Each holder OF the stock Of the
companv. whether common or preferred, OF record
April Is will have the right 10 subscribe for the
stock be issued par UP TO 61t per cent Of mo
par value of present holding Each subscription
for five shares Of the stock made in accordance
this privilege shall entitle the subscriber there
for 10 purchase one per cent thirty year series q
bond OF the Colorado Industrial Company OF the
par value Of 81 0GO upon a total payment for every
five shares subscribed for and one bond purchased
Of s. 90 The rights in connection with this new
issue OF stock and bonds are worth slightly less
than per the stockholders Of Colorado Fuel
and Iron
BANKS LOSING MONEY-On sub-Treasury
operations the banks have lost from Friday up 70
the close OF business yesterday S644O0o. compared
with loss in the same time week ago Of SleJi-
Ooa. The Sub-Treasury debtor at the Clear
ing House yesterday for $50 7O5. Leading bankers
declare that inasmuch the government IS taking
a great deal OF money out Of the local banks for
custorns-the collections that account on Tues
day alone amounting to S1,15S010-and that inferior
centres are drawing upon New York for supplies
or funds necessitated by the activity in general
business at this season, there is good prospect OF
relief through increased deposits Of government
money In the banks Furthermore, there is the
prospect OF imports OF golu from Europe Some
OF the largest and most influential international
banking houses intimate that conditions may very
shortly change SO 10 cause imports Of gold to
this country from Europe News of further i'm
ports from Berlin momentartly expected to-
day
NEW YORK STATE BANKERS CONvEN-
TION.-The thirteenth annual convention CT the
New York State Bankers Association will be held
this year at the Hotel Champlain, Bluff Point
y Y, July 5 and S Alfred H Curtis. presi-
dent has appointed the following committee OF ar
rangements: David H Pierson. cashier Of the
Bank OF Manhattan Company. chairman; Charles
Elliot Warren cashier Lincoln National Bank; Ed
ward O. EIdredge. cashier Peoples Bank. OF Buf-
falo. and c. : johnson. cashier First National
Bark OF Plattsburg
BAR IRON REDUCED iron has been re-
duced to 81 50 Pittsburg freight added, which IS
equivalent 10 s. 6il5 New York. Bar iron is now
selling on the same level as steel bars. for the first
time in many months In the latter part OF last
year sales were made high s2 per 100 pounds
There is no significance Of weakening i-on condi-
tions in the drop in bar ron. Producers them
selves have responsible for the decline reaIiz
ing that high prices for iron bars meant the sub
sttution Of steel bars. They able 70 bring
about the reduction through lower prices for scrap
and material
NEVADA CONSOLIDATED-It Is now admitted
that the GUggenheim interests have secured prac-
teal control OF the Nevada Consolidated Company
a smeter with annual capacity Of leo Geo tons
a year is contemplated
FRANKLIN TRUST COMPANY-At a regular
meeting Of the board Of trustees Of the Franklin
Trust Company it was recommended that a special
meeting OF stockholders be held on April "A to con
sider an increase IN the capital stock from 0OoO0
to S5o0O00 and an increase in the number Of trus-
tees from twenty to twenty-seven
AMERICAN TELEPHONE AND TELEGRAPH
The syndicate which underwrote SIS 600 COZ OF the
I per cent collateral bonds OF the American Tele-
phone and Telegraph Company dissolved by Iiraita-
tion Of time The syndicate. which has underwrit-
the first S100Gc0t00 Of the new convertible bonds
of this company. has not vet placed its holdings
on the market " is said that the underwriters
waiting for lower money rates and a better
bond market before they bring the new Arneri-
can Telephone and Telegraph companies converti-
bles
PACIFIC COAST DIVIDENDS UNCHANGED
The directors OF the Pacific Coast steamship Com
pauy have declared the regular quarterly dividends
of IL per cent on the common. IL per cent on the
first preferred and IL per cent on the second rre-
fetred stock. payable Nav
NEW STEEL RECORD The March output Of
the United States Steel Corporation as pre1icfA4
was the largest in the history of the concern More
lron inSotS ana nulSned ana nl-nnIShed
We're turned oct than in any preceding month since
the corporation was organized. Pig iron produc-
tion the rate Of more than 1oO0O tons a wear
Earnings for the month were correspondingIy large
I,ANSTON MONOTYPE INITIAL DIVIDEND
Directors Of the Lanston Monotype Company have
acted favorably upon the recommendation OF the
executive committee to declare dividend Of ? per
the stock. The dividend is payable April q
to stockholders Of record April 3
CLYDE STEAMSHIP SAVES MONEY-Sfnce
- ~r-4a
hands Of the present management economies in
operations have been put in force amounting in the
aggregate 70 saving II Is estimated Of Sil0 Aaf n
year Tho lst5 net earnings were $S52 7q1
IRON COMPANY'S EARNINGS Tho Buffalo
md Susquehanna Iron Company reports net
earnings for the last eight months OF sz1
oea This Is the period during which its second
furnccs has been in blast The company is unable
20 supply the demand for Its product which Is a
high gF1de OF foundry pig
MIR. FORBES RETURNS Allen b FORBES
managing partner OF The Scg York Office or \ "
Harris Co. has returned 70 the cirv after an
absence or more than q month. IN which time -