New-York tribune., 1907-08-03
TOPICS OF THE STREET.


200 shares in the local market. most Of which
were purchases. The buying OF Union Pacific was
the only feature. The market on the other sds
was too to make arbitrage operations profit
able. In London the general market was quiet and
depressed in the early dealings. but toward tia
close rallied under the lead OF the Rio Tnto issues
Money in good demand and the supply Largs
enough in the open market 70 meet all require
ments The London Exchange Will be closed to-
day. and all markets the British capital viii
observe the bank holiday, Monday.
MOVEMENT OF MONEY.-The reported move
ments Of currency this week Indicate loss in cash
held by the banks Of s22264 90 They received from
the interior sSt01o and sent 70 the interior 81 "a
60 including s12o4.1.o national bank notes sent
Washington fo- redemption The gatn from the IL
terror was Si.iZ5.6fo- Receipts OF new gold were
S2.l-9s00 Gold exports were S3i9.1". Of which
$50 zoo in coin went Canada and $la29 in bars
went TO Paris. Ordinary disbursements BY The Sub
Treasury were s2I 1o: payments BY banks TO ths
Sub-Treasury for customs. internal revenue, per
cent redemption fund etc, We're S-s}l59o- TIA
loss on Sub-TreaSury operations proper was S.s32-
So. Receipts OF currency We're largest from near
by and Eastern points, although There were soma
good amounts from the West and south The larg-
est shipments were 10 nearby points Shipments
Of gold to Canada have been important WIN
SS50O0 sent this week and s. 4oa1 last week there
sent in all S22todt4 The money is needed IN
Canada To move last years wheat crop. which "a
now coming forward 10 market quite rapidly The
loss on Sub-AreasuFy operations pr'peT vas uus
chiefly TO the payment by the southern Pacific oe
one Of the notes given IN settlement OF the ooIi,
cations 20 the government II The Central an!
Western Pacific railroads for aid In construction o.
the roads. Pension payments fell OF q S1co
from g It3 60 IN the preceding week customs COL
lections were 81 4a555l comparing with S44gD 10 IN
the preceding week. The SIt-TreaStlry receives
from hanks and sent 10 Washington for reden1pt!oa
s.. %. go uIutilated currency
COPPER TRADE CONDITIONS. Houston d
Co. in their monthly copper circular. say:
The reduction IN the market prlce OF copper TO =
cents pound for eleCtTolytc and --sG-S cents lor
lake made by the leading producers on the stI
UltimO event OF special interest 70 the t-als
during the last month This action was considerei
by large sellers fair compromise measure IN
the effort 10 establish price bass that would "a
ciitate business Several million pounds or met2I
sold al the figures. but II Is q matter OF
common knowledge that the response BY buyers az
the schedule OF values has been diSappoil-"5.
The waiting situation noted in June extended mo
July. and still continues TO extraordinary De-
gree II remains "a be seen what market deVsigp
ments Will tranSplre during the neNt re" -
While the hesitation lasts the market IS treated "
limited offerings here and there at ConSdera0iy -
low the abo1 mentioned prices. ard these ehesp
lots serve 10 postpone buying in heavy voi-.S
Underwriting operations keep buyers Guessing !"
the future OF the market -.
There is this much TO be said however, l-.
manufacturers will be driven into the maA.,
sooner or later by the sheer force OF necessity. a.
tho potentialitIes OF accumulation OF nuupn-& -
requirements Will certainly prove a powerful NO. NO
ket factor once hJIvfny starts ID with rene"71
vigor- The situation is Capahl" Cf eXPeTiehcHs
rapid change on the resumption OF a Dig della @ -
\ little more confidence is needed. and orae u v
comes apparent that consumption IS going % % Ys,
at a healthy the beneficial effects OF ia7
tonnage requirements should soon exert q
lGtinS influence on the market \ nuilooI :, =
pOrtan: plans which spell OUT progress anu e.
vaEcement have been dormant lately. but when -. -.
way is clear for the execution OF great WU5- W-
there Will be enormous absorption OF tOpl .r,
There has been restraint put upon caIas ,.-s
out certain enterprises lately. but when condiJ -
become more favorable these will be taken up " "
energy. There is no reason 20 expect any -
nent setback I'm the Of copper. and the ,, t1u-
will undoubtedly see all past records IN lNs ri,
Of demand greatly eclpsed The civilization t.bs- =.
age and the possibilities opening up for fafI
electrical expansion make the prospect for sV9S
exceedingly bright one II " were p'sSl, mt,
guarantee a United States production or pm. jim.
pounds of copper annually for i've ConSeSuTS
years at a market price not over ~ cents 80
then might expect to see an adjustment ol1rls ol
trical and Industrial interests on a o'SS 80 ,s-,
warrant some Of the mightiast undertiA AsS -,
achieved. Enough metal for an eXpandlhS te 80 -
is Il more important consideration % the wO'lL
progress than slight price fluctuations, Ing ,g. }.
moters of great movements and the oudel
great systems want 20 be sure that " w -, ,orth-
they need to carry out their projects VIII 10
coming In sufficient quantities.
MONTHLY CIRCULATION STArEMsN4..,. -.
The monthly circulation statement issued ~ s,~
Controller Of the Currency shows thai a. u ~ NJ
Of business July 81 the total circuialon -. ss
tional bank notes s6o3. SS5SSS. an ihc.
the year Of sH s14s s4l. and decrease for , , spus
of Ss92 Ss. This is the first time IN n nea' ss-
wears that n monthly statement has shown ut
crease In the circulation outstandinS Inc a. vas
of circulation based United states oo ~ 40 81
s555 023 go an increase for the year OF - rl--
and a decrease for the month OF S4I,SSl Ius 4,
cuIation secured by lawful money anoas, ~, ard
34s 372 $50, an increase for the year or S'f0@
an increase for the month OF sl5A'S' ,..
GRAIN EXPORTS FOR THE WEEk,- ysek
streets reports exports of grain for
with comparisons. figures in busheis. as -.Ss Ias
Wheat -four included. 27Se SO. against asf. from
week 2S95.020 last year and 6.46S5so IN - ,ssrT
July l. 12 $50 16T compared with 9sS.Si" IL lasted
and a. 4S3 SOS In 1eO-'02- Corn, 1as1zl r,r tie
with SIS o44 last week and 62314o In lo ,cs q
necal year to date. s162s11, against a'S'
lsOS-'O7 -
BOSTON MONEY MARKET.-ln eSss -
money holds nrm and - not sasAaJ ess>A~