New-York tribune., 1908-11-14
TOPICS OF THE STREET.

FOREIGN TRADTNG-IondOn a hss--
tuver in the local MARKET taking between 900 ar
n 6o0 shares with the heaviest purchases IN -.
Hartman stocks. Reading and United States Stss
On the London Exchange the market vas qusz
with the greatest strength and activity n r.
American department. Money was in better "a
mand az the British capital. and much az il1ps
cert was paid for call loans SITTER rates ars *
pected after the payment Of the Treasury bis n
Monday Runors OF a new India Council loan rsr.
current.
COPPER PRICES LOwER-The quoted pie. =,
the local Metal Exchange was reduced yestsras1
Il for all grades in the bid price. Regarding ths
copper trade outlook. Walkers Copper CiruIa-
saws. The only element Of danger is found n th.
copper held by the spectators as Il may CONS On
the market again at lowe prices in the u
break. Speculative holdings. however. are not par
ticularly large, as portion OF the copper bought
by these interests few months ago has been loH-
dated. Referring 70 consumers. one leading copper
interest says: They are buying Ike sock %
sheep Some Of them engaging more copper
than they have any immediate use for and specu-
Iatcrs in the metal are always eager 70 buy
on an advance just those DO who operate IN ths
stock market think copper nigh enough, and Do
not expect sell much higher than 15 cents next
year Copper consumers are greatly pleased and
encouraged by the business outlook They have
they can see where the demand Is coming from
keep tnem busy at steadily advancing prices for
equipment Of steam railroads has fairly begun now.
that so much has been done already that IL will
continue and that there win b for al the
copper that can possibly be produced for great
many years 70 come
ILLINOIS CENTRAL BOND ALLOTMESTs-
Owing TO the heavy subscription OF the 20
10000 Illinois Central refUnding per cent mort
gage bonds offered by Kuhn. Loeb & Co. THURSDAY.
is understood that the subscription allotments Will
represent only comparatively small portion of the
amount applied for. II is reported in bond circles
that the alotnents will not be 10 per cent Of
the subscription About 100000 OF the bonds
changed hands on the curb yesterday at prices
ranging from 9a14 to 995s compared with o. less
4 per cent 10 banking and brokerage houses. the
subscription price
streets reports the exports Of grain for the week
with, comparisons figures in bushels Wheat -four
included 5.0294s4. against 49+O214 last week
and 6.12e-e44 in the same week last year For the
season s37s4 240. compared with 7e.s20-351 IN the
same time a year ago. Corn 372S0S. contrasted
with s12.5s4 last week and f.133.4Ss n the ssms
week IN 1907: fiscal year, 25a2 59. against f9525
in the period year ago
NATIONAL BANK ACT-In view of +he IN
qufries which the Controller Of the Currency -
Gently put TO bank directors the National City
Bank has issued complete compilation Of rhe na-
tional bank act. together with full index II >
distributing copies Of this among bankers. Tbs
direction the Controller Of the Currency, and it
contains all the amendments up TO date thsr
have been made the act This viii enable bank
directors who have not heretofore read the banking
law be able to answer the Inquiries made By The
Controller.
MOVEMENT OF MONEY-The reported move
n1ent Of money in the week indicates loss IN the
cash held BY the banks OF 81 1850 The banks re-
ceived from the interior s565osO0 and sent 70 ths
ada and 10000 sent to San Francisco Receipts
of new gold amounted 3 los 100 The loss the
interior was S43s.510 and TO the STb-Treasury.
50 29s41O0
STEEL PRICES-The leading steel r1a1ufact-
declare there IS basis for the story that
general reduction in steel prices IS contemplated
Prices holding better than at any time during
the depression and with expected Improvement
IN no reductions n prices Of the ordinary
are contemplated Sales Of rails are being made On
a basis Of s2s q ton for standard sections for de-
livery next year
NEW BRANCH FOR CORN ExCHA%GE
BANK.-The State Superintendent OF Banking has
granted the Corn Exchange Bank permission 70
open a branch at Long Island City the
greensboro Bridge plaza. at the intersection
of Hunter avenue and Academy street.
STOCK EXCHANGE RULING Stock Ex-
change announces that all transactions in Annert-
Can preferred end Mexican Central Railway
Central Trust Company certificates, due Monday.
November IS. will be cleared on Saturdays sheets.
Mexican Central Railway stock has been dropped
from the list Of stocks 70 be cleared
STEEL FOUNDRIES REPORT-The report %
the American Steel Foundries Company for the
year ended July 81. 1878. shows net earnings %
S621 O56 a decrease Of s22725S6 and surplus after
charges and depreciation Of S5S.4sS decrease ot
g 320653
OF the National Lead Company have declared
regular dividend Of - per cent the preferred,
payable December Is