New-York tribune., 1908-05-09
TOPICS OF THE STREET.

FOREIGN TRADING-About 10000 share. =,
stock were sold for London account. with pu--
chases American stocks in London had sag
ging tendency. except the active issues. when
Were steady. but developed strength ths cur5
with the Hartman issues the leaders. The Ken.
eraI market was inactive and featureIess.
TUE, COPPER MARKET-The New York Metal
uxcbs1oe has lowered it's bid quotation on al
grades Of copper &c a pound. lake being nov
quoted at I21zc TO 12ztc. electrolytic 12z.c 70
1855 and casting 121sc 20 1850 Walkers copr.r
conner is in better demand and prices ar.
shade higher Lake is 13c to 13lsc and electro
Iytic I27sc TO 13c pound Producers are very
we'll pleased with recent developments IN th,
trade IT is claimed By those N position N
know that the tremendous exports OF copper
averaging 2.230.000 pounds daily FOR six months
past represent an actual legitimate demand from
European consumers An improvement IN II.
domestic demand Is beginning 70 manifest its.lr
\ very great deal of copper wire Is being pur-
chased by electrical companies for the renewal os
lines and also some for extensions
MOVEMENTS OF CURRENCY-Ths reported
movements OF currency this week indicate gain
in cash held by the banks Of SI3I35.600- Ths
hanks received from the interior s151s2 400 ard
sent to the interior s5.s36300. including 3s3s-
coo national bank notes sent TO Washington FOR
redemption. The gain from the interior was
s9.295.600-
BANKERS TO MEET N DEW ER-The sx-
ecutive council of the American Bankers Asso-
citation has decided upon Denver as the place and
the latter part Of September as the time for IS
annual convention Of the association comznit-
tee has been appointed to make the necessary a.
rangementS for the convention
NEW MEMBERS OF COTTON ExCHANrE-
The following have been elected 10 membership IN
the Cotton Exchange ] Julian DICK, Walter W
Hess and Edmond L Haneman- % New YORK;
Frederick H. Muller. Bremen, Germany, and John
G Clark. New Haven
GRAIN EXPORTS FOR THE WEEK-Bad-
streets reports the exports Of grai1 FOR TIE week.
with comparisons. figures in bushels. as follows:
Wheat. flour included. 1-956S73. against Ls20-553
last week 394 IN this week last year ard 5312
24O in 1902: hsce. year 70 date 1sG3I4I5S COntrasf
with 145. .79J,0fO IN 19Us-o1 and 2is429215 in l90t
'02- Corn 335.2IS, compared with 4alo'Z ast week
and I.744 500 in 1897: for fiscal year % date A.
3J5.6s5, against 63,113.I3I in I306-'1-
STOCKHOLDERS LISTS LARGER num-
Der of stockholders Of the Norfolk * Western IN
creased from 1919 july I. 1907. 70 453o april
l. 1905 The Erie on May had in al 70 go stock
holders. against 9.25S on October I last
STOCK. EXCHANGE SEAT SOLD-Thomas Por-
ter Ford. OF firm Of Ford & En0s Rochester. has
bought the Stock Exchange membership Of Henry
TiIden Swan
BOND EXTENSION ARRANGED Kansas
City. Fort Scott < Memphis Railway Company has
arranged with Moffat * White for the extensiva
for three years per cent of the g 3l575e0 ars.
mortgage per cent bonds Of the Kansas City. Fort
Scott x Gulf Railroad Company. maturing June
CONDITION OF TRADE--Duns ; Review says
Weather conditions have exercised much ina1encs
this week retail trade in seasonable merchandise
and dealings at the leading commodity exchanges
Low temperature checked the demand for Esa;
weight wearing apparel in a market thar was a.
ready backward and heavy rains started reports e
damage 70 the crops Vet there vas no evidence .:
serious injury Manufacturing conditions sno'
little change. much machinery being idle and rev
business coming forward slowly IN some -n1-~
tries there is still disposition 70 wait for low<
prices, although restricted demand during the az
six months must render replen1shnent of stoe1 Z
almost Imperative This fact IS emphasized BY ~ +
liberal attendance and brisk bidding at al specA
sales such the local auction Of rugs and carpss
Financial sentiment improves restrictions as
removed from commercial credits. and sa-es q
bonds provide funds for structural work Failu-= 4
decrease in number. while liabilities in April Wss
smaller than IN any month since NoVTlll2er . &
spite several large suspensions OF d spscula1s &
nature directly due the advance in prIC-S Of -
c1Iritfes which this week established new hE 4
record for the year Bank exchanges AT New foz +
for the week were II per cent larger rn3n IN ~ Z
and other leading cities there was decrease q 4
95 per cent. The comparison is unusually favo'
able because more monthly settlements aHpear u 9
week than A year ago A few mora srael pa1a z
have resumed decreasing the percentage q II /
employed in this industry. but new contracts an E
placed with great caution and ir IS evident IA +
all consumers anticipate more attractive terms
Bradstreet's says: Weather. trade and ndl~
trial conditions little changed from last vssz
and farm work. retail and jobbIrS business ana - s
movement Of old crops to market have been =
striCted by heavy rains. low Temperatures OF %
roads The only notable exceptions n this as E
found the Pacific Coast and a. fen Soui@
western centres The crop situation : less IN &
fOrnlly favorable. excessive rains flooding SON
crops preventing CtIu p-1USIll-lS anu
reducing the oats area. while similar condlIo-a
followed by frosts. have Unfavorably affected 1lcl
young corn. cotton and fruit At the South La's
reports are. however. OF clearing weather AZ
these conditions may be rtgntsd. the season
still young Reports from the leading lndlS'I7s
stn of great quiet Manufacturers zee y
lack Of confident buying by 5Obbers and N1ur
salers. who. in turn. report rnal dlSt-1out7rs -
tioUs in buying only what they need % rePIe--S
broken stocks The textile trades are duh anu =
short time, but cotton goods men are more g
dent that bottom prices have been reached. :"
iron and steel industries show little change