New-York tribune., 1909-05-09
TOPICS OF THE sTEEEr

FOREIGN TRADING.-Forsign houses bor,..
fair amount of stocks in ths local markst
London the general market was quist ans =
with activity. however, in the copper shan. = =
American issues Call money ar the RrifI-s Nd
tai was easy and was offered as low ! of ~ -
cent the market being affected by the rsa.-sN
the Austrian indemnity payments TO Turkey 80
African gold TO the amount Of SS00.0o0 w1u ~ -
fered In the open London market to-morrsw
COPPER TRADE CONDITIONS.-warksr -
per Letter says: Copper Is IN better Ss-.~r
and. If anything. prices are shade hrner. -
is 1SG131sc and electrolyuc 12z412Tsc uor--s
The domestic brass and wire manufactures, -
buying copper more freely. and number ot -
lots have passed from producers to consumer =
considerable lot Of copper has been bought sor ~
delivery and some for August There Is a .,..-N
Increase in consumption IN all lines in this -
try and the European demand continues verv =.
fsfactory The forthcoming report Of the Prodnc--,
Association Is expected to show further fr1u-r-.
rnent In the statistical position OF the metal A.
ing April, and the increased volume Of bus0s.
transacted since the first OF this month gives 5a-
for the belief that as much or more copper WI -
sold In May than in any previous month IN -
years At the present time the outlook serpr~..
favors an advance in prices IN the very -
future There IS beginning TO be basis for -
hope that copper will sell at 15c again beSors -
end of the year
COTTON MOVEMENT.-'TThe Financial Cs--
icle gives the total port receipts OF cotton FOR -
week ended May :. 1909. 114.s29 bales sxzs.,.
135 S11 bales IN the preceding week, making tha 81
tai receipts since September I. 1903 s197 s42 ba.
against 7.S74O56 bales for the same period OF lss
showing increase since September I. 1904 .
! 523 SS6 bales Rain has been general throuzso-.
the South, though not in excessive quantity V.--
little has fallen in Texas Planting operations hsy.
been somewhat delayed. as a result Of ths va
weather
SILVER PRICES AND EARNINGs-Ths rrics,
silver in the week advanced to 5S7sc an ourc-
This is a new high record for the year. but "a,
bullion houses predict much higher levels bef1r.
the end of the summer, owing to the greatly p
duced stocks in London and the steady increase (,
the demand not only from India and China, bu.
from industrial consumers all over the world. Il !.
predicted that silver Will sell at 50 cents an ouses
before the end Of the year. Assuming that the o.
bait mines Will produce 100000 ounces Of zlv.-
this year, this would mean additional urest
OF s.. 100000. more than per cent on the szi,,
capital Of the dividend paying mines
UNITED STATES BANK CLEARINGS-Ts,
total bank cIearings OF the United States for Ia
week ended May s. 1903 Zone day estiraatsdD a.
cording to THE Financial Chronicle were arr
24 40 against Sl3S, ,367.s3 in the preceding vssk
and s2,541.C62,419 IN the corresponding week "a,
year.
Compared with last year. the total weeks cl.s-.
ings have increased 335 per cent New York CT
shows increase OF "a per cent BaItmors 4
I.6 per cent. and Chicago OF 242 per cent
COTTON EXCHANGE NOMINATIONS n.
nominations for officers OF the Cotton ETchana
are: President, George Brennecke; vice-preSidsrt
A R Marsh: board Of managers. Leopold Pachs
Albert c Cairnes. c. X Cone, Marshall Gesr J. 2
Gwathmey Thomas F. Hick. George F Jones. A..
thur Lehman. L Mandelbaum. J. F. Marry VIZ
lam Mohr G. z Moore John r Rodgers. r 81
denberg and E P Walker
BROKERS' NEW QUARTERS.-R F. wssar.
field. dealer in investment securities, has m0vsa
into his Offices in the Bank Of America Bslt-
ing NS a Wall street ". r. Howard & Co. dsa-
in investment securities. have moved into thsr
new quarters at No. % Broadway
CONSOLIDATED EXCHANGE INFORMATION
An interesting pamphlet dealing with the cr-
solidated Exchange and operations on rs board has
just been issued by J. Frank Howell. A member
Mr. Howell gives some good advice % intending
buyers margin
Federal Sugar Refining Company has reduced prices
10 TO IS points This makes prompt shipments slc
less 1 per cent for cash. and delayed shipms1h
4.S5c., less 1 per cent for cash
UTAH GOLD AND COPPER EXTRA DTvL
DEND.-The Utah Gold and Copper Company has
declared. IN addition 70 the regular monthly dr-
dend OF I per cent. extra dividend c. one-hs1
OF per cent, payable June Is