New-York tribune., 1908-08-29
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses s,la
Union Pacific and AmalgaTnated Copper in the
local market. and bought Southern Pacific and
United States Steel. trading moderately both ways
In the London market consols were heavy. whls
the general list was firm until the late trading.
when prices sold off under realizing sales Ths
British money market was easy. with call and
time rates unchanged Discounts shade
frnner. American stocks closed easier on the
curb Cable dispatches reported continued distrust
abroad In the speculative situation in New York
COPPER TRADE CONDITIoNs.-Walkers
Copper Letter" says: Copper Is stronger. and
the market shows a rallying tendency. Lake Is
1875 TO IL cents. and eectrolytic 1888 to 13 cents
pound. learn positively that lot Of 100 900 pounds
Of lake copper sold last Saturday at "a cents.
In view OF the fact that this followed transactions
low 1875 TO 1872 cents earlier In the week. it
proves that the market is in much stronger posi-
ton than had been generally supposed II Ia
claimed by some metal trade interests that copper
Is actually becoming scarce again. They declare
that as much 10 10000 pounds could not Be
purchased for September delivery from any other
source than the United Metals Selling Company.
and whether that company would sell as much
is not known Some copper IS being sold for adj
vance account A few producers have sold all the
copper they will be prepared TO deliver IN Septen-
ber; considerable contracts have been made for
October delivery and some for November. num-
Der of big consumers are known 20 De m the mar
ket all the time watching for opportunities to buy
copper ct fractionally lower prices than those
quoted Domestic consumers. as rule are carry
ing very small stocks; and their view OF tho
business situation is much more hopeful than Il
has been for long time past they are buying COP
per In Increasing quantities II IS knOWu mat
those metals selling interests VINO were eAceeu-
ingly buIish the metal three OF four years ago.
before the big advance. ere again very conndent
HEAVY GOLD SHIPMENTS TO CANADA
Gold the amount OF s5S5.0o9 was taken yesterday
in the local market for shipment to Canada TIE
Merchants National Bank shipped $500; the
agency Of the ROYAL Bank % Canada. S.5oo,0T;
the agency of the Bank of Montreal S-sJ0to. ann
the National Park Bank. S50,00- Since the De-
ginning OF the movement OF gold 20 Canada there
has been sent from New York S0409o. The crop
requirements OF Canada heavy this year, and
good part Of the gold shipped from here IS fof
harvest purposes Montreal banks expect large
movement OF American grain 10 Europe by tho
way of Montreal and accordingly they are pre-
pairing for IT, On July 81 the Canadian oanks nad
call loans outside OF Canada OF about SlN'"'
large part OF which IN this city. Loans Or
this character have been called quite extensiVeF
In the last few weeks.
PRICE OF EXPORT OIL REDCCED-Foi-
lowing the recent cut IN the export quotations on
naphthas the Standard Oil Company has announcer
q reduction OF nc in the price OF water wnits on
for export The new quotations are based on o0uc
for buIL and - iOc FOR cases New York Loading.
The so-called standard white OIL remains ui-
changed on the basis of 5c and ISoc-
RANKS GAIN MONEY.-The local banks gained
ON the known movement of money in the euIrsn-
week 81 900. They received rom Ihs ~ a.
ss77sOo0 and shipped TO the interior @V.SOg w,.s-
Guiding ST. 90 national bank notes sent 10 " asn
Ingtou for redemption and Sl50o.00 gold com ss,,I
10 Canada. Receipts OF new gold were s-.1s @ - -
There was a net loss to the Suo-IreaSurs "
s51s.6Co ,,.-. =,
,he IacIe6e Gas Company Of St Louis nave ~
cIared the regular quarterly DIVIDEND OI - "
cent on the common stock, payapIs oop'0 80 :,
COPPER RANGE DIvIDEND.-The dlrectol' =. ~
the Copper Range Consolidated Coilpsny !, . .sare
clared a regular quarterly dividend OK y 80
COFFEE EXCHANGE HOLIDAf.-Ine nlen,u~6s lraansr6
81 me Coffee Exchange have voted 70 s~'S
business on Saturday, september q