New-York tribune., 1908-10-31
a>oxER 3 ocx>
TRUST CO. 50
ass FIFTH AVE. CORNER s4rE ST
ss B'wny. 100 W. 125th 81 Sd Ave IGsgb a.
TOPICS OF THE STREET.

TOPICS OF THE STREET.
FOREIGN TRADGNG.-Foreign houses bogz-,
upward Of 10000 shares on balance in the IocaI
market. Union Pacific being the feature IN arbf-
trage operations IN London the general mark.
was inactive and firm Call money at The F-frfs-
capital in demand and as high as Pa p cent
paid A moderate amount was borrowed from .
the Bank Of England at per cent There v.s a
fair number Of bills offering. which as a rule we
taken by the joint stock banks. The French IL
rnand for gold IS still felt IN the London market.
COPPER PRICES HIGH On The local Metal
Exchange the quoted price Of copper was advanced
yesterday = in the asked price for all grades
Walkers copper letter says Copper IS strenze-.
and from the present outlook Il seems reasonable
10 believe that the price will be established on =
basis Of at least "A cents pound following the cleo
ton Of Mr.. Taft next week. Lake copper is
quoted at 13zsc TO 14c a pound. and sales for Na-
venlber and December delivery have been made az
these prices The price Of eectroIytic has advanced
152tc Domestic consumers have been liberal buyers
recently, and some Of the large manufacturers havs
contracted for enough copper to their antcf-
pated requirements over the end OF the wear Pur-
chases Of copper by domestic consumers during ths
first part OF the week estimated in the vicinity
OF 10000 TO 100000 pounds The copper taken
for foreign account during the period esti-
mated at 100000 to 100000 There is diversity
OF opinion in copper circles 10 what inmediats
effect Republican success will have on the price ~
copper. 1t is conceded everywhere that Mr.. Tafr's
election will stimulate business and increase
Oul tnere IS some doubt as 70 whether
OF not tne expected improvement in business VIII
De suft1cfent TO create a demand for copper thar
VIII carry the price high as I5c before the end
OF thls year. A producer whose views are us1afT-
conservative is Of the opinion that 14c for cc7s-
is a very satisfactory price for the present IA
believes that manipulation toward higher prices az
thls time would be very unhealthy A sharp az
vance in the price OF copper to Is cents he believes
would operate TO keep manufacturers out OF the
market m who otherwise would be inclined to come
III ana Duy noeralIy on a basis OF 14c He rof7-s
out the fact that while consumption is stiI IaFzf7g
Ihe producers generally turning out a fun pro-
Cucton or copper; consequently he does not bel
OF
OF the metal ~
HoN EMENT OF MONET-The rerorta7 mora
eIi's o1 II currency this week indicate the small
Use oi SIoiS0 IN cash held by the banks Tbe-s
was gain from the interior for the first time sir.
Ihe week ended August q. which nearly oegger -
loss TO the SUb-Treasury. The hanks ra,af,-sl5 -.
Ine interior SSlIsSH and 70 the interior q 90
500 including 100000 to Canada s15 osa rra7srs-4
.mnrough IN the Sub-Treesury TO New orleans ana
S4''-0oo national bank notes to Wash ngtou for re-
demption- The gain from the inferior e - rss 9o
Receipts Of new goIl were 231S2O OF which e ne
pV was on New York Assay Office checks S1s5 so or
san FRANCISCO Mint checks and s4I4 40 on Seatr1A
assay Ofice checks Ordinary disbursements hv IRE
Sub-Treasury were s22 731. 500: navuents nv hanks
70 the suD-Treesury Tor customs. internal revenue
Q per cent redemption fund. etc we're s2S DIS nFsa
The loss on SUb-Treasury operations proper was
s. As, 200
GRAIN EXPORTS FOR THE WEEK-B-sd-
streets reports the exports OF grain for the vrssL
with comparisons. fsures in bushels Wheat Aou-
included, 5.463.11t against 61Z7g2 last week and
4'Sz54s last year: for the season g. S14 4S2 con-
tidSteu Win ocEot-slt II t1S same time
Corn 1854, contrasted with 81 AZ last week and
6o6.340 in the week OF 1907. fiscal wear 9S
COZ, against T,360,21 in the period last wear
NORFOLK & wESTERN-In the first two
months Of the current fiscal year the Norfolk &
Western earned surplus over fixed charges and
taxes OF S1101.0O0 including miscellaneous il
come, showing that earnings are running at the
rate OF about per cent year Measuring the
surplus earnings OF the company by haIf-yeariy
periods. the Norfolk & Western has earned a mar
gin The div lends paid the last year Of de-
n -
promise Of substantial Improvement IN the near
future.
AMERICAN Mailing REPORT.-The Aueri-
can Mailing Company shows for the year ended
August 81 profit products dealt in Of slSl9ss9
and net profit after interest. taxes and better
ments and maintenance. Of S95z.73- other income
was s44S3S The COMPANY has cash in bank q
S.420,9o5 Deposits of common and preferred stock
Of the American Mailing Company under the plan
for the reduction and readjustmeut Of the capital
show that there is still outstanding less than ass
per OF the entire capital stock Of the company.
There have been issued in exchange thus far S6'a-
Coo common and 100000 preferred OF the American
Malt corporation
HUDSON COMPANIES NOTES ALI. TAKEN
1t is announced officially thar the entire 5oeotO
of three-year per cent notes Of the Hudson com
panes recently offered TO the preferred stockhold-
ers OF that company at par and interest have been
subscribed for These notes are secured by re
bonds OF the Hudson & Manhattan Railroad COM
pany. This completes the financing OF the HUDSON
Companies. and enables it % carry out the pro-
posed settlement between il and the Hudson 8
Manhattan Railroad Company
NEW DIRECTOR FOR MERCANTILE Ma
TIONAL BANK.-Abram J. Prayer. formerly
member of the hru OF Morris Prayer & g. has
been elected a director OF the Mercantile Natcnai
Bank TO fill a vacancy
MEXICAN IRRIGATION BONDS.-Cab.s sd-
vices yesterday stated that the Mexican irrigation
bonds the allOtments OF which were made on
Thursday we're selling at a premium ot z IN me
London market
DIVIDEND DECLARED.-The directors q rs
Cripple Creek Central Railway Company hSNe O.
Clared the regular quarterly dividend OF per -
on the preferred stock, payable on NOvsn'eI ~
GOLD FOR CANADA-The Bank OF Mou'rVt-s
Yesterday shipped from New York S0@e' goIu S'la