New-York tribune., 1908-08-20
TOPICS OF THE STREET.

FOREIGN TRADING-FOreign houses bought
20 900 shares in the local market, including args
amount of Southern Pacific. London reported
growing interest in the Hartman shares On the
London exchange prices as rule were strong out
trading was inactive. Paris prices also Vers
strong Call money at the British capital was easy
and dull Only a small business was done n Dis
counts There vas no change in Continental Dis
count rates
BALTIMORE < OHIO-The earnings Of ne
Baltimore & Ohio for July show marked IN
provement over those Of preceding months. espe-
ciaIy in regard to net earnings. which decreased
but $3.50 532. compared with decreases OF Ssss.-
$50 in June and s1-373.150 in Nav This result s
IN large measure accounted for BY the better GUS
earnings which were only s1.52S17s under July OF
1907 as compared with losses Of s1.-59o0o IN June
and 81 27s. 900 in May The July gross earnings
were s2S5.S54 better than those o. June OF tnls
year and s62s5I better than those Of May Bat
an even more important factor in The better re-
showing was the reduction % s12+S-2Sa n 1 s1
penses, which indicates that the Baltlrnors q 80
is not only reaping some OF the benefits OF Us
heavy maintenance expenditures Of the preced,ns
fiscal year. is also reducing its transportai'o1
costs For July the operating ratio was s+4 Pr
cent. compared with 6s-2 per cent for the sA'ns
month last year
PLENTY OF MONEY. But LIGHT DEMAND-
Call money rates declined TO ). of 1 Per cent ys.-
terday. The demand for accommodation was Asa~
banks being unable 10 place large amounts on y
most favorable terms. The local banks have game.
from the Sub-TreasuTy since last Friday up"as
of ST.000,000. and. although Indications are ~
wanting OF heavier shipments Of funds 20 ne u
terror. bankers expect change in money az
toward = higher level in the near future Chless'
exchange m New York declined 70 10 cents az
count yesterday. compared with > cents dlScoaH-
Tuesday. Time money was difacUlt % ple-7
even at S1.G34 per cent for over the end OF ~
year accommodation
THE COPPER MARKET.-Salss Of copper l'
week have been light. the bulk of the business =
far this month having been confined % the IL
and second weeks Sales Of el-ctrOlytic were l1
ported this morning at 1SSsa1S2t cents pound oa-
several large producers inclined 20 hol1 -
metal at II cents Producers and selling ssencies
seem 70 be IN strong position The majority @
them report they have sold Jteir possible 9roaUc-
tiOn well into October.
MIAMI COPPER-The Boston stock Exc1anss
has placed the unlisted sheet 0e0o shares 3,
the Miami Copper Company There are So.
treasury shares which are reserved for ac3elrlhs
additional property and enlareinz pl3nt TIE to'A
authorized capital. therefore. : 100000 snafsS
New York certificates VIII constitute good a.
livery until further notice.
AMERICAN TELEPHONE AND TELEGRAPH
The July report of the American Telepacne 81.
Telegraph Company shows total gross earTlnss =.
s3S14.S01 against S3529 1913 N the month IS
year. and l.st earnings Of sS.6+S.S10. against a.
S3I,S5S in 19O7- From January l 70 july 81 sIus'
earnings were s17.6Os2se. compared vita Sl',ps-.
900 in the CORE spending time IN 1907. and suFp.
after dividends s5752.270 against S45SS,los N ~
year before.
COTTON EXCHANGE HOLIDAY--The peutoo
Of the members OF the Cotton Exchange % =
board Of managers 70 suspend business on So
day preceding Labor Day mas been granted
GOVERNMENT BUYS SIL-NER-The DHe0.
OF the Mint has purchased 100000 ounces Of Siss.'
delivery 70 be made at the New York 4 say '