New-York tribune., 1907-12-28
TOPICS OF THE STREET

FOREIGN TRADING-Foreisn houses
active factors in the local market. buying nse
stock on balance. In London consols were .s
and the general market quiet at I1nirnasay
changes in quotations There was an sc,tr aat
mand for money incident to end OF the va, p-
qurements. and the contango on American So. re
in the fortnghty settlement ruled at 81. nsr '2eks
Banks charged 6l9 TO per cent for Stock r
change loans. Paris exchange on Iondor Hx
weak. also Berlin rates. The Bank of Fn,,ss "ss
made change in it's discount rate 'na
BANKS GAIN CASH.-The reported rpovs~
of currency this week indicated A gain =, Asns
held by the banks of s. 300 all Of Jrbich essn
from gold imports The banks received fror, 'ms IN
interior S2.s20O0 and Sent to the interior e. 49,
of which 81 1880 transferred through -
Sub-Treasury follows: To New Orleans se9, aon
Chicago $4,000. to St. Louis 5000 to San F.
cisco SJ01,J0e. to Denver $l50.0s1 The loss IA az
interior s2.s5i500. Receipts of new gold vs
SJ.913.3oo namely. imported bullion and forsts
coin Ss.1H 200 imported United States coin ssa ma
New York assay office checks 81 73s sN ~
Seattle assay office checks $500 Ordinary dIs
bursements by the Sub-TreaSury were S66l3 an
Payments by banks to the Sub-Treasury for cus
toms. internal revenue, per cent redempto,
fund. etc. were sl6.sS7-50o Tho loss Sub-Tr.as
ury operations proper was $3.50 The total lo..
10 the interior. g. si 500. aud Sub -Trea.u-v
operations proper s2S,s0o was S.S7SlO0. Deductinr
this from the gain by new gold OF s5.s13S0o tbs
net gain s3.O35 200 The loss to the interim 4,
tho smallest since the week ended October n
which was before the first intimstion Of the panic
II is not without precedent for the banks 70 irc.-
a ~
December
COPPER TRADE CONDITIONS-ws Con-,
per Letter saws: Copper is stronger Lake ia s.r
ing at 1872 f2as cents. and electrolytie at ia
to 49, cents a pound. The market Is inCreasine,v
active and more copper is moving than for lon.
time past There have been considerable sales this
week to both foreign and domestic consumers and
steadily growing inquiry is reported by producers
generally The prospect now is that metal prices
will be higher soon after the first of the year With
the heavy curtailment of production IN Montana
Arizona. Utah and Mexico II is very trnprobanl.
that the price of the metal vi decline 13 cents
again The question of curtsi ilment OF production
IN times of low metal prices is very interesting
one The right way to view the situation is fol-
lows: Copper ore In the ground unquestionaby 1,
vaItIa bic 1t does not deteriorate go out
Of style as merchandise does. and IL does have
be insured charges paid for storage II ts
the part Of wisdom. therefore. to take good
per ore out CT the ground and convert II into metal
unless IT can be done at fair margin Of profit Tbs
old style policy of keeping conpanys concentrating
and srnelter going long as expenses Of opera
tions can be paid is not good business The
agement of copper mining companies should look
twice the ton Of ore in the ground, and should
go on the principle that the ore should not be
moved until II will yield fair profit for stockhold
ers''
DIVIDENDS DECLARED Dividends hav.
been declared follows: Chase National Bank
regular semi-annual per cent, payable January
.: Consolidated National Bank regular semi-an-
ursI per cent payable January 10, United States
Glass Company regular quarterly L per cent pay
able January Is: Streets Western Stable Car
Company regular quarterly 30 cents a share. pay
able January %. New York County National Bank
semi-annuaI % per cent. payable January 2; Al
lance Realty Company regular quarterly Il. Per
cent payable January Is; Norfolk & Western regu-
lar seni-annuaI per cent on the adjustment pre-
ferred stock payable February -
GOLD IMPORTS-The steamship Adriatic.
which arrived yesterday from Southampton and
Queenstown brought four boxes of gold valued
at S2O00N0. consigned to the National city Bank.
MIN nT -Of6 a W.
signed TO Lazard Freres. making A total Of Ss-
coo This makes the total gold arrivals since the
present movement began Sl.655.091-
HEAVY EXPORTS OF wHEAT.-vheat and
-four exports from the United States and Canadian
ports in the last week reached 6.2540oo bushels.
new record for the year. increase over the pre-
cedjrg week Of 1.393.oa0 bushels. and an Increase
over a year ago of 3.7SoOoo bushels. With but
one exception the weeks total was the heaFiest
since the fall of 1902
CANADA SOUTHERN BOND PURCHASE
OFFER z. Morgan & Co. are now prepared -
buv at par and interest Canada southern nrSt
mortgage per cent bonds. due January L l'N.
the holders Of which may prefer TO sell ratheF
than to extend.