New-York tribune., 1908-08-01
TOPICS OF THE STREET.
MATURING AUGUST 4. Iss

FOREIGN OPERATIONS-Foreign houses ve-.
buyers Of the copper stocks IN the LEGAL rlarkef.
but otherwise were not active factors IN the tad
ing In London the general market was tEacttvs
and irregular. with further weakness n ccnsoIs
Turkish. and Russian bonds were depressed on
sales for the Continent The copper shares vera
strong There was a slightly better demand for
money at the British capital. due 70 end-of-the-
month requirements Cali money advanced from
a of per cent to per cent Discounts were
quiet and firm. The London market VII be closed
to-day.
BANKS GAIN CAsH-The reported moverere
Of currency in the current week indicates gain
in cash held by the banks Of s.s5.10o. They re-
ceved from the interior N3.0se70o and sent to ths
interior S. 535 go including s26Go09 gold ccin 10
Canada. Receipts Of gold were Ss=2eoo. On
Sub-Treasury operations there a loss ths
banks OF g 4p 900 Receipts Of currency from ths
interior were the heaviest since the week ended
June IS. They chiefly from nearby points.
For the first time this fiscal year payments were
reported by the sub-Treasury CT San Francisco
Mint checks. showing that the revocation OF the
order prohibiting the issuance Of such checks has
become effective. The loss on Sub-TreasEry opera
tions was due 10 the final payment on the Central
Pacific notes.
COPPER AGAIN HIGHER-The Metal En-
change quotes copper prices up &c IN the asked
all round; lake 13isc to f3@sc; electrolytic &c 20
13Lc. casting. 12a.c to 13c- Walkers copper letter
says: Copper is stronger and fraetiOnally higher
Lake is selling at 1314c electrclytic I51sc
pound. Domestic consumers are buying quite free
ly. and Of them agtng copper fer as
far ahead as September and October delivery Ths
foreign demand good,
ing the advance and the prospect Is that the
small existing surplus supplies Will soon be ex-
hausted. Business conditions improving SLOW
". Recent political developments Will reassurs
business and investors considerably ard hasten
a return of prosperous times Some uncertainty
still attaches the Presidential campaign II Is
to be expected that other factors. such as tariff
reform financial legislation. etc, may tend 70 re-
tard the complete return Of confidence and gen
ereI resumption Of business activity in this coun
try. Copper has a worldwide market however.
md hRr
demand will equal exceed the output OF all the
mines. II should lie and possibly al lac De-
fore the end of this year"
GRAIN EXPORTS FOR THE WEEK--Brsd
streets reports exports of grain for the week.
with comparisons. figures in bushels, as follows:
Wheat. -four included 2605, ,9SS against 2529s2 last
week and 2. .73S S35 the week last year; rs
cal year TO date. II. .+13 40, contrasted with R6S
7S7 in the corresponding period year ago Corn.
59aD compared with 1880 last week and l6S,I
IN the corresponding week OF 1907; nscaI year 20
date 226.127. against Sf626n IN the corresponding
period CT 1907.
SUIT OVER IRON PIPE DIvIDEND.-Applica-
ton was made yesterday in the Court Of Chancery
at Newark TO restrain the United States Cast Iron
Pipe and Foundry Company from paying the quar-
terly dividend Of Il: per cent on fts preferred
stock. due September 1 next. IL being ccntendsd
that the cornpanv's earnings were sufficient 70
warrant the payment. This suit is friendly one.
intended to full legal authority TO protect
the directors. recently declared this dividend
READINGS FAVORABLE EARNINGS-Pre-
-Iiminary figures of the Reading Railway Com
panv's annual statement for the fiscal year ended
June 80 show much better results than had been
expected and exceed the estimates figured from
the average monthly returns The company, IL f5
said. earned close TO Il per cent on the common
stock.
BUFFALO ROCHESTER & PITTSBURG DIYI-
DEND REDUCED-The directors Of the Bunao.
Rochester & Ptttsburg have declared a seT-an-
nual dividend OF per cent on the common stccA
This a reduction, comparing with 2i2 per cent
six months ago. They declared the regular semi
annual dividend Of per cent on the prsrerred
stock
MORE GOLD FOR CANADA.-The agency of
the Bank of Montreal shipped yesterday. an addt-
tional $4,000 gold coin TO Canada, making tne
total on the movement "a 10000.
ELECTED SECRETARY.-Marion ]. Verdsry
has been elected secretary Of the Stock Exchange
Building Company and superintendent OF the So
curity vault of the exchange, succeeding the lats
Charles II. Wright
DIVIDEND DECLARED-The directors of ths
Bank OF the Metropolis have declared the regular
quarterly dividend OF per cent. payable on Au-
gust l.