New-York tribune., 1907-12-07
eoNps.
TOPICS OF THE STREET


FOREIGN TRADINCf-Foreir, bousas +,. =.
$1,000 shares In the local market. mostly saIes ~
London cOnsOls were heavy and the general r,.-
ket was inactive at unmpOrtant price ehangss
with declines than advances As the 80
nightly settlement begins next Wednesday IL 3.
probable the current heavy tone Of the London
market represents the evening I'D OF accon1+s
Money at the British capital was in reasonabIv
good supply, and it thought rates would wo-I,
easier next week with reduction in the Bank ~
EnElands $ discount figure. Open market discoru.z
closed easier yesterday large gold receipts by
the Bank of England The curb market for An,sri
can stocks closed active and firm on covering
operations.
MOVEMENT OF MONEY-Tbs raror+sd ,,ov.-
ments of currency this week indicate a gain 4,
cash held by the banks Of 5000. 500 THIS repre-
sents the excess of gold received over the loss
TO the interior. The banks received from the m
terror s4,169900 and to the interior s15 300
of which there was transferred through the Sub
Treasury S1.I56. 00o. follows. To New Orleans
S2+L000. to Chicago. S4.044.000, to Cincinnati
$4,000; 10 St Louis 81 .934 600; San Francisco
s4S2 600: TO Denver. sS50.090; Philadelphia $685.
600. and TO Boston. 100000 The loss to the IN
terror SIIs19. 500 Receipts OF new gold were
s1T117,700. namely, imported bullion. s1o25 500.
imported foreign coin, $2.ttI,1Q0. United States
coin. s779 900, New York Assay Office checks
200: on San Francisco Mint checks. s14 500:
Seattle Assay once checks. $1O4. 100. Ordinary
disbursements by the Sub-Treasury were s23, ,I53,-
200 Payments by banks TO the Sub-Treasury FOR
customs. internal revenue, per cent redemption
fund. etc. S23 461,O ,OO0 The loss Sub-Treas-
ury operations proper was S297 500 The total loss
TO the interior (S1LSf9.300) and to the Sub-Treas-
ury (S297. 500 s12 1I7I00- DedUcting this from
the gain by gold of $17.11T.100, the net gatn
$4,000 500. The shipments Of currency 10 the
interior larger than in the preceding week.
which was in Il great measure due 20 the prepara-
tions BY interior banks to meet the Controllers
call for a statement OF condition On the other
hand the receipts OF currency from the interior
were larger than in any week since before the
panic
COPPER TRADE CONDITIONS-WaIksrs cop
per letter says:
Copper continues firm and the buying demand
t. V.r-, 10 10 and
eleCtrOytiC at 1875 al 1S3sc per pound There have
been considerable sales at these prices quite re-
Gently The foreign buying demand IS especially
good Domestic consumers continue 10 buy on 3
hand mouth basis. but the aggregate OF this
buying has been increasing steadily for the last Two
three months More copper - being sofa lnaa
IS coming from the mines Indeed, October and
November exports from this country were equal ID
greater in the aggregate than the entire pro-
duCtion from American mines IN those Two
months OF course. great deal Of copper was soI1
for domestic consumption in the saT1e period WIN
such volume Of business as this indicates ne
surplus stocks OF copper are being reduced very
rapidly. There is good basis for the oelleI tna-
even with business cramped and restricted oy .he
monetary stringency fully as rucn copper y so..s
directly into consumption IS coming rom mo
mines which means that current buying - n
speculative II must be understood of course tnat
consumption has increased in several lines as u
suit OF the very low price at which the metal -
now ObtainabIe The buying demand for copper =
coming from almost every quarter of the slo2s
The market for this metal is world VICE II =, -
respect copper differs widely from tron eoai - a..
other like commodities. To ship ton OF TOh TUE - -
Michigan China would double us cost 1ut Nos.
per from the Lake Superior mines can oe deLss. ds
in Hong Kong for about ID per cent ot It's ptouue
tion cost The outlook for the copper netaI ma
ket is decidedly brighter than IL has been shcs
price first broke below 25c. because Il ils 80,
a price level where IL has found EoOu oasg ..,ag
demand. The situation is not sufhclently se. s~s
as vet however u warrant the belief that the 80
would be maintained at ia Toe X an llI9 , sar,
and smelters idle or partially e.SseI -Ts1t
should resume operations IN nun II S,.1s S,.1 viii
Improvement continues, however. condluonS condtS1o
BE- in shape to warrant a sells-al
of production everywhere .,
DIVIDENDS DECLARED. Dividends - naNe q
declared as follows: PittSburC. Fort "dy :,
Chicago Railroad regular quarterly "a pr pT,-- 4
the general guaranteed stock Fi4at .. +bs sps-
and the regular quarterly - per eeut ems. % Ianu-
ciaI guaranteed i.nprov ement stock piyd] ~.
ary /: FIeiSChmann Company regular Q Qle- a. Nyns-
per cent on the preferred. payable January - - can't
teenth Ward Bank regular quarterly - ,,nv - 5
pavable December 81: Security Audls CoIH Is- "a:
per -ent the preferred payaoe - cent on
American Can regular quarterly "a ~ ~ = "a, Il.
the preferred payable January :. SWiil SiS. Central
per cent payable January 8. and the llllho ontssd
regular semi annual per cent on ''S
leased lines stock payable january ..v-os-
GRAIN EXPORTS FOR THE WEt-h.L Et.. ,rssk
streets reports the exports OF gram ~ s follows:
with comparisons. figures IN oUSileIS;i oUis+ 45sss4
Wheat -four included 6.ls1Ztl' s+ ase vsar and
last week 479f020 in this week hst az s75-
6o4 $40 in 1901 the fiscal wear 20 az and 49,
o60 compared with S55S5 Is - IN i'co 'ctrasted with
$50 fl9 in 19O102. corn lls.:-,o' ,e7 for the
10 tS9 last week and 110941I IN I9Vo 90 40 74s 10
fiscal year to date 21,66+.S49 against
I906-'OT. rrs an
ANTHRACITE coal. shipment s. s. sss-
thracfte shipments for November .sV'' - IN No
2O5 tons as compared with 5.Isz,.'s 5.Isz, - November
vember 1906 an increase of 4S4Oo- W o' =. Noveurber
last wear The shipments for the year yearronarsd with
80 1907 were 81. .32I.6I3 tons, as ~ ~ 1906. an
SO, ,s62 567 tons for the eleven -h0"
increase of 10465.1o0 tons r,x-rDENDs-
REGULAR CAR AND FOUNDRY n - FoundrT
The directors of the American Ca1 ~tsrly diyi-
Company have declared the regular S M stock ard
dends OF Is. per cent on the preir-s~r l. This
/ per cent on the common. pay pie ,,arfer ended
company reports net earnings LOT t,e tth a. 5s2sD
October 81 of s27T5.64s compares ,Ss an the cor
In the preceding quarter and Sl'''''f'
responding quarter last year -r, sailrosS
RAILROAD EARNINGS LIGHT En- ~ Novenbsf
reportine earnings for the last WSe - of ss57na
show for thirteen companies totai I ~ slts.lA
and for seven companies to'ssl So s missouri n.
The heaviest losses were returned " Os,-aI 4 Gresb
cifc IousviIle & Nashville. lnteria1 lnter E,alwsy
Northern. Texas & Pacific and Southe ,-1-prrfES
NORTHERN wESTCHESTEH shsrn West
COMPANY Earnings of the ~ ten month
chester Securities Company for @ t IN gross
ended October 81 show an lncie's an fncrsss~-
sa4 -si over the same time in lsoo aIs a4 with ip'
in net of se1 tss This COMPANY cost co.-sst rslwayS
excsntion of Mount Kisco. all tne sssas,sr Counst
aIsctrJc Iighr and gas plants IN NsssN