New-York tribune., 1907-11-23
TOPICS OF THE STREET.

a
less than 10000 shares in the local market sslIta
on balance. As the fOrtnighty settlement begins =
London on Tuesday there is not likely To ~ s II
important foreign trading until the new acco,S
start on that day. The London attitude at prs
is waiting one. The stock market at the Br ~
capital was dull without important price cbsr.-
ConsOls were shade lower, and the conner g-
showed some Improvement under the lead az p-
TintO. Call money was higher at 61L Da~ 40 40
though closing under that figure while private a..
counts We're quoted firm at "a per cent rha-
were no changes of Importance on the Contins-.1
oonTseS or IN the money markets. The Situation
al Berlin IS causing some apprehension in London
COPPER TRADE CONDITIoNs.-waIker.
per letter says: The copper market has co,t,p
to be characterized by an absence OF dar,a75 @
prices nave been saggtng again. Lake is now 13I-
10 I34s cents pound and eectrOlytic IL 70 1s,t
cents. During the last two or three davs tbsr txs's
been renewal of foreign buying Quite a It,.1
copper has been taken at 13 to 1871 cents A - -
considerable amount could probably be sold So :,
cents. 1t Is believed that the activity on no.. IS
buyers VIII encourage domestic consumers ana -
to good buying at the present level Of prices-1-4
vided producers are willing to sell There fs 49,
an effort in certain quarters quote prices don
The Metal Exchange and a trade paper which -
ahesed 20 De owned by buying interests, are nAr
sistently putting out lower quotations than con1
can be purchased for in quantity. At the ssyr
time some Of the largest producing Interests -
port that they have been Approached b,y o--.e
metal dealers who express a desire to buv Ia~
amount or copper at about 122s cents evidentIv -
speculation. If money conditions were easier tber
would De very large speculative demand for coD
per around 13 cents. chiefly from the leading 49,
fs
the most attractive commodity speculations obts,O
able. Until monetary conditions are more sattlas
however most consumers will be unable To dnanCs
any larger purchases of metal than thew re0,,t-
for immediate The cessation of Operations ~
the three snelters in the Boundary district ~ -
ism Columbia will further cut down copper prodrc
ton by about three million pounds monthly n 4,
not believed however, that this suspension v-t1
continue for more than a few weeks The Yar1,
sIneiter in Bingham has resumed operations aftar
an ldleness OF a month or more. II puts out about
SIX hundred thousand 10 seven hundred thousanS
pounds OF copper monthly. Utah legislators ana
salt Lake Valley farmers and business men -
endeavoring TO bring about an adjustment Jvhi.S
will permit the Bingham Consolidated and T-nta5
states smelling plants to resume operations and -
continue pending a final settlement of the srre,,a,
iuines darnage question The smelling companies
in Utah afford be quite as independent No.,
In the past The output Of the Bisbee district Ia
likely 70 be reduced considerably by fires wbic5
have broken out in the Calumet and Arizona ana
Shattuck-ArizO this week. Altogether there Is
now curtailment of at least 80 per cent In tbs
American production Of copper
BANKS LOSE CASH--The reported rnovensnt
OF money in the current week shows loss in bank
cash holdings OF more than s6OO0OO0. Thev received
from the interior $3.55530 and TO the interim
S9,OS3600 Receipts Of new gold were S13O7I5a
namely; On New York assay Office checks. SSsS 500
on Seattle assay office checks SO90O; by imported
gold bars and foreign gold coin. S6,5O4O0O by i'm
ported United States cOin So S6.2oO. Disbursements
by the Sub-Treasury Were S24O67.sCO Payments by
banks to the Sub-TreasUry for customs. internal
revenue, per cent redemption fund, etc wsra
$2S,125100- The loss Sub-Treasury Operations
proper was S4o57,So. The net loss TO the interior
Is S60oO0o less than last week. Receipts We're only
about $4,000 larger. but shipments were S56000
smaller. The distribution OF the money TO tha
interior was about the same IN the preceding
week. although the amounts shipped direct and
transferred through the Sub-Treasury were less
The loss Sub-TreaSury operations proper was
due chiefly transfers Of internal revenue coIlec-
tions. There small increase in pension pay
ments. which were 81. .SS3 900. comparing with 81
COO in the preceding week Customs collections fs,l
,fFf ~1,-.
DECREASE IN BANK ExCHANGEs-Ban ex-
changes are again reduced in volume, according 10
''Dun's Review" the total for this week at all
leading cities IN the United States being s2O5O O
362 per cent less than last year and 2S2 per cent
under the corresponding week OF 19o5- There is
loss at nearly every city compared with both pre-
ceding years, which is especially large New
York because of the reduced volume OF stock deal
ings and the low range OF security values. San
Francisco also reports heavy decrease compared
with last year. but at most points in the Middle
West the loss is small and several cities IN that
section report small gain. notably in the COmpari-
son with 1895.
GRAIN EXPORTS FOR THE wEEK-''Braa-
streets reports the exports OF grain for the week
Wheat -four included 5.1O3143. against S1s2s44 last
week 405.O13 in this week last year and 551S $50
1891: for the fiscal year TO date. SO2s4s5 compared
with I4.5SN6 In lSlo-W and lZ-.9oS,'sO IN lSl-t;
corn S629 contrasted with lbs ass last week and
594 sol in 1906; for the fiscal year to date. 1s7s
against I7,S12.296 in 1sO6-'0I-
DIVIDENDS observation-disclosures Railway
regular quarterly 3 per cent, payable January I.
la stman Kodak Company regular quarterly u per
the preferred and ? II per cent on the com
mon. payable January l. and extra per cent
the common. payable February 1. Boston Woven
Hose and Rubber Company regular serni-annual
per the preferred, payable December Il
Montezuma Mining and smelling Company regular
semi-annual per cent on the preferred. payabls
January 10. York Manufacturing Company regu-
lar semi-annuaI per cent payable December :.
Rubber Goods Manufacturing Company regular
ftrrg TnFf lraTa 1V-ah
December 16. Federal Mining and Smelling Is
per cent the preferred and II per cent on the
common, payable December 10.
CANADIAN PACIFIC.-Sir William Van Horne.
of the Canadian Pacific, says that he has been
able to see any decrease because OF the financial
situation in Canadian Pacific receipts but that he
expects gross earnings next year may reach $780,
100000 He inspected the Thief River 10 the Ken
mare branch OF the 500 Line. and says that both
the 500 Line and Canadian Pacific are in fine shape
He says Canada has felt some financial stringency
but is prosperous
PACIFIC COAST EARNINGs.-Earnings Of the
Pacific Coast Company for September show an in
crease in gross OF S1S5946 and an Increase in net
OF Sl4SO4- Total gross amounted 70 $7S7ss5-
against S6O2O49 in September. 1906. S621S27 in
1905, and S559.SoS in 1904 Total net for Septen-
Der S14S.922, against S129.11S in September 1905;
$15l.sSS in 1905, and S125,25O in 1904. For the
first three months of the fiscal year. total gross
amounted to $2.2S1. 42S. against S17S7 SOS IN tbs
time in the year before, and total net S4o7.-
600. against $SS0.S2S in 1906.
TENNESSEE COAL. AND IRON-The earnings
Of the Tennessee Coal and Iron Company applicable
for dividends will close 70 81 ,OOO in the
current year. which is far in excess OF the fixed
charges on the Steel Corporations sinking fund
. per cent bonds exchanged for the stock OF the
Tennessee company
STOCK EXCHANGE SEAT BoUGHT.-waltsr
F Klemm, Of Philadelphia. has bought a seat on
the New York Stock Exchange for $515OO. the same
price as the last preceding sale
GOLD FROM JAPAN. The steamship Korea
roig