New-York tribune., 1908-07-25
TOPICS OF THE STREET.

FOREIGN TRADING--Foreign houses sold ssr,
shares in the local market. mainly United stass.
Steel In London consoIs were again weak 49,
the general market was quiet and fsatureless A.
cept In the American department, in which tbsr,
was active selling for New York account Moosy
was easy throughout the day. On the Corttnen,
money rates remained unchanged
COPPER TRADE ONDITIONS.-walksr,s co,
per letter says: Cooper Is stronger Lake fs ~,
to I31. cents and eectrolytic Is selling for IA c-
a pound. More copper has been sold this ws.s
than in the three four weeks preceding n
mestic consumers coming into the rnarkA
That a few Of them have built Up constds-sbt-
confidence in the future IS reflected in their CON-
plants because they are unable to buy copper sa-
October delivery at present prices I Understars
that of the large producers are willing 70 al
for later than September delivery at guota,o--
here given Some interests express surprise th.,
buyers have been supplied freely without a5v
material advance in prices. As has been stated n
these letters previously. there Is probably about
two months production OF copper awaiting SALE
The greater portion Of 1t is being held for s9afl-
higher prices; and fear that competitive selling
might cause a sudden reaction is causing rnsn9
producing interests TO meet the demand az ahor,
1s cents Real Improvement is beginning to b
noted in the brass trade A number OF fOunf-ts,
have increa sed their working forces recently ara
all Of them are buying more copper than for sev-
eral months past There is also improved De-
mand for copper wire. and the rolling mills ar,
quite busy. as might be expected with copper az
its present low price Foreign buyers probably
viii not follow the market advance Nearly al os
the British and European consumers bought n
excess Of their immediate requirements early IN
the year. going on the principle that the metal
should be secured when il was cheap. They can
now well afford to retire from the market and
await developments It Is very good opinion tina.
the prico of copper VIII hold between 13 and "a
cents during the coming three months. The Sta
tistica position is quite strong enough to war
rant the expectation Of anv considerable advance
While the consumptive demand IS Increasing. It vii
some time before Il exceeds the current volurs
Of production. The prospect is good. however tha.
there will be active market and that supplies IN
the hands Of producers viii diminish rather than
increase
SOUTHERN sTFEI. .CONrPANY-Loolfng to ths
reorganization of the Southern Steel Company as
provided by the plan OF reorganization for said
company. and which plan has now been assentel
by practically all the bondhOlders. collateral
trust note holders and creditors. the COMMITTEES
announces that II has paid overdue interest AID
sinking funds the mortgages Of the Georgia
Steel Company. the Lacey-Buek Company and the
Chattanooga Iron and Coal Company. This pre-
vents the disintegTation Of these properties BY
foreclosure suits and assures to the new company
the ownership Of these properties consisting,
among other things of 5000 acres OF ore ands and
rights and 1900 acres Of coal lands and rights
as well modern and up-to-date iron and steel
works
BRADsTREETs GRAIN EXPORTS Brad
streets reports the exports OF grain for the week
with comparisons. figures in bushels, as follows.
Wheat -four included 2529922. against L4S2.l6 last
week and 2S76.54S in the same week 'ast year
fiscal year to date. S So B1. contrasted WITH ASA
a31 in the corresponding period year ago Corn.
a 800 compared with T22H last week and L66s.s4
in the corresponding week in 1907 fiscal year 10
date 10 pa against 554. 40 in this week r. 1877
BANKS GAIN CAsH-The known movement q
money in the week indicates a gain IN cash he'd
bv the banks Of SO SOS 500. The banks received
from, the interior s. so and sent the Interior
S. sf2 300 receipts being smaller than IN the pre-
cedfne week bv about g. .06-lGN0 The greater paro
of the receipts came from nearby points me gan
from the Sub-Treasury was S666s.500 and on ne"
gold S1.79S5OO
SITB-TREASJTRY CREDIT BALANCE-Tne
Sub Treasury had credit balance at the Clearing
House Yesterday of SS3 SIS due to the payment OF
the nineteenth Central Pacific Railroad note 20 rs
government This is the first time IN nuInoe. o.
days that credit balance has been repolV-
The note was for g. 10000. and leaves only Oh'
more 70 be paid
PITTSBURG & LAKE ERIE--The directors =
the Pittsburg & Lake Erie Railroad have oec.as-
a dividend Of per cent out Of the earnings o. - -
last six months. payable July 81 A year ago no
company paid per cent, and last January
similar dividend was declared This road eonsu eo
tutes the New York CentraI's entrance into Fll''-
burg
ATCHISON'S EARNIN6TS--The Atcnlson IN ~
peka & Santa Fe according 70 its president -
show approximately ~ per cent on tne comm .
for the last fiscal year The amount OF ths - =.
dividend will depend upon the business ooHe II -
mean time. -.
GOLD FOR CANADA-The Bank OF MonI MoZ-
Yesterday shipped S250OoO gold 10 Canada' nSAI'
s. 10000 sent IN the current week