New-York tribune., 1908-10-10
TOPICS OF THE STREET.

TOPICS OF THE STREET.
FOREIGN TRADING.-Foreign houses were
more heavy sellers in his market, estimates
Of the total amount Of stocks sold ranging from
S0O07 TO 10000 shares. The sales included large
blocks Of Northern Pacific. Union Pacific, United
Stsrns steel and Reading There were considerable
sales of Canadian Pacific or direct orders from
Berlin Later in the morning foreign houses were
reoor1ed ss h17vers of stocks to a small
American stocks in London were weak from the
opening. and by afternoon had lost from l to ~
points recovering part Of the loss, however IN the
curb trading The general market in London was
weak and nervous and consolS declined IS point
10 s4Is. Final prices on the London Exchange were
trtha above the lowest The Paris Bonrse closing
weak.
DIVIDEND DECLARED-The Missouri Kan
sas & Texas Railway Company has declared the
regular semi-annuaI dividend Of per cent on the
preferred stock. payable on November 10.
MOVEMENTS OF CURRENCY-The reported
movements Of currency this week indicate loss in
cash held by the banks CT s15oooo. Of which S2SS-
ono TO the interior The banks received rom
the interior 1855 SO and sent 10 the interior $50
17 including S1.343.coo national bank notes 10
sfington for redemption. The loss 10 the in
ra-5ar was 8 2N0U Receipts Of gold were
s2.321 800 The loss Sub-Treasury operations
proper was s2.60Ss7o.
SOUTHERN PACIFIC BOND sALE-Huhn.
Loeb e. Co announce that the Southern Pacific
Company has closed negotiations covering a4@'lV"
Southern Pacific Railroad Company first refunding
mortgage per cent gold bonds. public Offering
which VIII he made by Kuhn Loeo d Co.
speyer & CO. and the National City Bank
GRAIN EXPORTS FOR THE WEEK--Brad-
streets reports the exports Of grain for The week
with comparisons. figures IN bushels. as iriOWs-
Wheat. -four included 5652e52 against 64I3S25 last
week and .2q2 in this week last year: fiscal
year 10 date 81 7e7s9 ca-npared with 53745s14; the
corresponding period year ago, corn 11,759- con
trasted with 1888 last week and S4369= in 1907; for
the fiscal year 70 date 663.053 compared with b.
ELISA 81 the same period last year
THE COPPER MARKET-''walker's Copper
Letter says: Copper IS dull and there is nothing
in sight to encourage the belief that there will he
early Improvement Lake is 1312 70 13aa cents, and
-H---H- 1er~ r,S
sales OF round lots Of lake At 13a cents and Of Job
lots low as 12lz cents Producers IS a rule. are
asking 13s4 to i cents and showing little disposi
don 70 shade prices. Consumers are buying almost
copper at all, and consequently the market is
ufeiess A great deal depends on the coming cleo
don II the result Is what is commonly expected.
81 is believed that there viii be a general revival
OF business ali over the country. II so. the de-
mand 1or copper will absorb existing supplies
and prices viii advance While the foreign visible
supply continues larger than it has been for a
great many years however. ii cannot be expected
that there will be any considerable advance in
metal market quotations II the war cloud which
has appeared Europe increa seS. II VIII cause
activity IN the armies and navies Of all nations
Tremendous quantities Of ammunition and other
ordnance supplies win be purchased. calling for a
large consumption Of copper. A bfween the
leading European nations now would probably
cause the price Of copper 20 advance TO ; cents
q pound
APPLICATION TO LIST.-Applica1ion has been
made 70 the Stock Exchange to list 3 10000 ad-
oloonaI Tefundng and extension ~ per cent bonds.
due 1895. Of the Colorado & Southern Railway Com
pany: S-6So,0G additional first consolidated mort
gage per cent bonds due 1928 Of the AIjunea nolis
st Paul & Sault Ste Marie Railway Company
and s-0S3ep additional general mortgage 4 per
cent bonds. due 1888, Of the Cleveland Cincinnati,
Chicago & ST Louis Railway Company
CONDITION or TRADE-"Dun's Review
says:
Substantial progress toward industrial recovery
was made during the last week. a very large mum
Der OF wage earners resUming work in mills and
factories that had been wholly or partially idle for
trades materially declined This extension Of irs
oustrial activity IS partly due the larger con
tracts placed. but there is also more dispositon 10
<ently expected Yet resIJr,TTioT1 y - ~ % - ] COLI
sniforIn. many undertakings being deferred until
q short time az numerous plants. Government esti
ascate less than the maximum quantities but
new record OF total Ea!ue Retail trade at many
and the religious holiday. although some sections
wearing apparel. and payments are a little more
prompt Traffc continues to expand. railway earn
those o. issf Year VIII n there was an increase OF
port alone FOR the last week showed a gain OF
S05 eoo in imports anG loss OF 81 AZz8l IN exports
Changes at New York we're - per cent greater
oIt5es there was a decrease Of 48 per cent.
Contracts for finished steel restricted 10 cur
5n Sew 2T6jectz 3I arg deSeied u after election
wen much business Vii s placed and S2Rqe9S8S fb
iilate that stocks Of drygoods are low almost be
y5nd precedent and the urgency for Quick ship
;-seyfr tends TO generate confidence among buyers,
Who show disposition to anticipate requirements
in tie primary market for cotton goods
Brads,reet's says:
Although trade reports are somewhat Irregular
in character, ewing iargtl- TO varying weather
conditions in different sections q the country
and uncertainties caused by impeding elections,
the general undertofe IS toward sustained i'm
prcve.nenr- Country trade has been compara-
lively quiet because the farmers have been
taking advantage OF TIE ideal weather TO complete
their harvesting. However the heavy marketing
Of CROPS has made FOR a Increased railway ton
mage and improved collections considerably. while
e5norts oT wheat heavy Cotton picking IS
progressing rapidly. and although there some
rer,orts Of holcinP the general disposition is 10
market the staple Al prevailing prices. There Is
less Industrial idieness. and IN some instances
business Is developing for the hrst quarter of 1909
espeotsilz IN shoes lumber and zig iron. Railway
Gross earnings for September are 2s per cent
sroeI5Ar ffen Thev It this line ssf year when
frarsc was tspering Of. bJt this is the small
est secresee that has Deeu recorded in twelve
,1nnth neriod Bank cesTings show goodiy gain
over Last and slight increase over last