New-York tribune., 1908-08-08

,,opr1cN NTRADING-Foreign houses dealt in
90 600 shares in the local market mostly puI
cbasas In London American stocks were strong
CtnsoIs we're heavy but the copper shares en-
ioved further improvement on buying DaSeu on
The Increased demand for the copper metal money
- eos at the British capital. So far the loss
in cash by the Bank Of England IN connecIlol
with crop moving requirements mas nad no eIecs
on open market rates, and II Is not @ consIoeieu s
probable there Will be any. material advance In
quotations as result of the agricultural inquiry
for accommodation.
RANKS GAIN CASH-The reported movements
Of currency this week indicate gain in cash held
bv the banks of IS 9SS 500 They received from the
interior S658lO and sent TO the interior S45e2StO
including S2271 600 national bank notes sent to
Washington for redemption. The gain from the
interior a752,500 Receipts Of new gold were
81 9S2 600 Ordinary disbursements by the Sub
Treasury were 81 400 Payments by banks TO
the Sub-Trea sury for customs, internal revenue.
per cent redemption fund, etc, were SS,1S6O0 me
gain on Sub-Trea s1ry operations proper S3267-
400 The total gain from the interior, a.75Soo; new
gold s. 9S2 800 and Sub-Treasury operations proper
q 2s7 400 was s. 500. The receipts Of currency
from the interior the smallest for all weeks
this year. This indicates the approach of the crop
movement. and further indication is found in the
fact that several banks shipped more casn 10 the
interior than they received For the corresponding
week in 1904 gain from the interior was 421Sop
This to indicate that the business OF the
country is reviving more rapidly than 1t did four
wears ago. The gain Sub-TreaSury operations
proper was due to the excess of government ex-
penditures over revenue, to the redemption OF na-
tional bank and to the purchase by the Post
Office Department of large amount OF 1orelgn
exchange money order account
Walkers Copper Letter says: Copper is much
more active and stronger this week. Lake IS now
1879 to 1875 cents, and eectrolytic is 1875 cents
pound Domestic consumers have bought heavily.
and what appeared to be foreign speculative buy
ing has also been factor American manufact-
urers held off until the price of copper began to
advance and then generally covered their require
ments for about two months ahead at the rising
onota+iors The two months production of copper
in visible supplies recently has nearly all been sold
and it is to be delivered in August and September
Producing interests, rule, report themselves
pretty well sold out up to date. This means that
all their refined copper ready for market has been
disposed Of and that they now ready to begin
selling for advance delivery the metal they are
producing and have in process of refining. Inquiry
among consuming interests leads US to believe that
the metal market may get dull again very soon
Brass people say there has been some improvement
in business during the last five weeks; that they
have bought copper to cover their requirements
for some time ahead in order to anticipate pos
sTble further advance in the price. They think
there will be a steady Improvement in the brass
business. but that it will come very slowly Wire
per cent of their capacity. They look for some
further Improvement soon. but they do not see
anything in sight to suggest a coming business
boom.'
ANTHRACITE COAL TONNAGE.-In the month
of July all anthracite companies showed a de-
crease in production as compared with July 1907
except the New York. Ontario & Western and the
Delaware, Lackawanna & Western The Ontarto's
increase was 1.S2S tons, remarkable showing in
view of the record breaking production and ship
ments in the same time last year. For the calendar
year TO date the Ontario and Erie companies have
increased their coal tonnage, while other
panies have shown reductions. though the decline
is not large when it is recalled that last years
tonnage was unusually heavy The Ontario &
Western, under the New Haven management, is
building up large coal business in the New Eng
land States, and current indications point toward
a marked increase in it's shipments I'm the current
fiscal year.
GRAIN EXPORTS FOR THE wEEK-Brad-
streets reports the exports OF grain for the week
with comparisons, figures in bushels, as follows:
Wheat -four included S6ss4S against 26O5. ssS last
week 3Z72,s9S in the same week last year; fiscal
wear to date 151O4s7s. contrasted with Is s 76O in
the corresponding period year ago Corn. ia 622
compared with 1888 last week and ! .6H in the
corresponding week of 1907; fiscal year date Sis-
10 against 9270S22 in the corresponding period a
year ago.
CROP CONDITIONS-An officer of the st Paul
road says that the spring wheat crop is better
than II year ago. and that very little damage
has been sustained from the black The traffic
the improvement is slight President Ripley OF the
Atchison says that the crop is practically
safe, but railroad traffic is better except for
the grain movement.
DIVIDENDS Observation-Disclosures have been
declared S follows: Chestnut Hill Railroad. Of
Philadelphia, regular quarterly Ia per cent. pay
able September 4; Philadelphia, Germantown &
Norristown Railroad. regular quarterly per cent,
payable on August DO
GOLD FOR CANADA-The local agency of the
Bank of Montreal shipped yesterday $4,000 gold
rent movement.
PRODUCE EXCHANGE SEATS HIGHER--A
New York Produce Exchange membership was
sold yesterday at $3.50 This L. about IS above the
last preceding sAlA