New-York tribune., 1909-10-02
TOPICS OF TIE STREET

roREIGN TRADING.-Foreign houses dealt In
-, ,oo shares n the local market evenly divided
,be London market AtchisOn was the only
.-oTc feature in The American department. prices
s,,.Qbere showing tTfling changes. Consols were
s,er and the genera list higher Money
- IN fair demand al the British capital and
f,,uuts advanced. Continental discounts were
is-cbsnged. but exchange at Berlin and Paris
80 against London. II is likely that Russia
~ srafn secure the South African gold consirn-
- fn Mondays open London market while
.--ser Withdrawals from the Bank OF England
~ ne account OF Egypt and South America are
l-ske6 fcT.
paNKs LOSE CAsH-The reported rnoven,an,s
- currency this week indicate a loss in cash held
~ the banks Of ss5Sooo the greate- part Of which
- 10 the Sub-Treasury. The banks received
sr the interior SS15.0O0 and sent 70 the interior
rsesag including $3.50 el0 gold coin sent 70
.,.-ssa Eo0os transferred through the Sub Treas
~ 10 New orleans and S223I .0OO national bank
..,s sent 20 Washington for rederuption The loss
. -e interior was S2.60S,000 Receipts OF nevv rnIs
-.,re .oe. namely, on New York Assay Ofice
.,,ss s. 90 san Francisco Mint checks sc 0aa
- IA Seattle Assay Ofice checks seOa0 COO ord
- disbursements by the Sub-Treas1lr- were
$500 Payments by the banks 10 the Sub
--sasury for customs, internal revenue per cent
.ser1ption fund. etc. were Sss iSs. CO., showing
-, an sUt-Treasury operations proper OF IS 064 0o0
~ to.a loss 10 the interior and Sub-Treas sury
--.srstions proper was N0.s72.oO Deducting there
s-7m the gain by new gold. TIE loss by the
s,,-ts vas Se.5S9o o0 Other than the movement
"a god 70 Canada the operations between the
ts-lS and the interior presented nothing Unusual
.rs ureek- Receipts were principally from nearby
- ups;ste points. while shipments were mostly
= ,hs south and the Middle West.
paNKERS' OPINION.-Fisk & Robinson, in
.t.,- monthly bulletin. after pointing out the
r-irhf features az the situation. say: There are
Few shadows IN this brilliant picture which
..ls not be overlooked. and warrant word OF
-, For some time we have had the stimulus
= +sa+ upward impetus which always follows
- rrises. N0w We are losing the effect Of that
,-.rsrsrng force and have begun TO feel the
- a the ascent Il remains 20 be II. in
80 ace of slowly but surely advancing fall money
r-ss we can 50 forward unchecked New York
- reserves are SSs2.l2--l0o. barely above the
- amount required. FOREIGN exchange Is
~ the time against Us and already. even prior
u -r1p moving requirements We are heavy bOr-
--us-s abroad. BY reason o. the brighter agri-
e-tural outlook IN Europe cur exports OF fooosfuns
s-e not ukely 10 rectffy our present adverse bal
s,ce a trade. This, however. IS but temporary,
sn6 in TIE long run undoubtedly there win prove
:, be much force IN the following quotation from
sTbe London Statist' which. II really indicating
re European attitude, presaEes a golden future
g,r foreEu investment n securities OF corporations
9. the United States
on Only after there is no fresh land 10 be put
rrie- cultivation. no new mines 70 open Up. no
sd5sio-al oil wells TO tap, no new supplies OF luU-
,o- 70 he made can there be q dminution
= me rate ot expansion. America IS stiu many
wears from this position and, even when il does
e--ve SUI better methods OF production, notably
- sr-,--Ir-re VIII insure the continuance Of eX-
rsrs.on f'- 81 unlimited period In the
rext twelve months new records viii be estab-
s-s IT railways by bankers and BY all others that
VII usr-icips-e tn the work o. creating and dis
f-5uting the unprecedented quantity Of wealth
thsr Vt- be produced, consumed and accunu-
lated
20 MAKE BRUNSWICK a COALTNG STA
TTON-In connection with the programme out
i-e1 ~ President Taft in bis Seattle address con-
oe--tr- the regulation Of our merchant marine
sr6 TIE establishment OF American lines between
Vev TC-E and other ports and South American
ro--s ard between our coast ports and the Orient
- aH- aEFN ~ =
DEPARTMENT is planning 70 make the port of
Brunswick Ga. which is the third largest
port south Of Baltimore. coaling station for the
Tinted States government. and has already estab-
Lsted there q naval supply station
GRAIN EXPORTS FOR THE WEEK-Brad-
Streets reports the exports OF grain for the week
with comparisons, figures in bushels follows
Wheat four included. 3.322,160, against 2s43,60l
,zst week and 6.7@S.s25 IN this week last year.
Tscsl wear eS,4I5.7s3, compared with 50oI3,77S
2 -1s cOrrespordtng period of 1905 Corn 1854,
rr--astec with s441s last week and 1888 n This
weef wear. Fiscal year l.549.252, against
e-t7t5 II the corresponding period OF 1908.
GOLD FOR JAPAN-The Sub-Treasury trans
ffre5 yesterday $1,000. 600 for local banks 10 san
Francisco for The account Of the Yokohama Specie
Bank This country has shipped sIs.oo0.ooo in
g tn Japan so Tar TINS year representing pay
merits for London account OF japanese bonds
placed at the British capital, the position OF the
1change market permitting London 10 make It's
s--.eIne1ts ~ the expense Of New York
TITLE GUARANTEED AND TRUST.-The Title
e-z-sntee and Trust Company announces the res
NATION OF Arthur Terry as treasurer Ny Terry
rcornes Z general partner IN the firm of Atwood
Violet 4 Co. 30. 20 Broad street, New York,
erners Of the New York Stock Exchange and
re New York and New Orleans cotton exchanges.
EXPORTS OF COPPER-Exports OF copper for
e r.ee1 en ded September 80 were 144O tons, max
.rz for the month 2O.057 tons. compared with
1875 n the same time last year. Sales OF cop
pe- were made yesterday al 1871 cents pound.
Tie demand shows Improvement as compared with
EeeE ago.
STOCK EXCHANGE NOTICE--The Stock tx
c1srze announces that untI further notice transac-
uc1s .r Equitable Trust Company purchase war
rE1ts fo- Western Maryland Railroad viii be sec
old assessment paid. St Paul, Minnesota & Mani
iobs second mortgage Per cent bonds nave been
gr.cEer from the list.
MONEY FOR NEW ORLEANS.-The Sub-Treas-
grg yesterday transferred $4,000 10 New Orleans
.cr io-a banks
PT-R~HaSE OF BONDS-E. H Rollins q Sons
q Boston. The Harris Trust and Savings Bank, Of
Chicago and -. ". Harris Co, Of New York
t-l-l1C mortgage per cent tEenty-yeaF bonds OF
~ Los Angeles Gas and Electro COZ po1 atloi
T-s corpaug serves Los Angeles. Pasadena and
i-er Suburbs with gas and electricity ne ponds
si Ce Cc=-ed 10 the public next week
PACIFIC -EL EPHONE I-ISTED--TAe preferred
ard common stocks Of the Pacific Telephone and
l-eErsrr Company have been listed on the local
e,1cE Exchange
WV WALL STREET FIRM.-Robert Maclay
t,a AaaCeFilIe Mutually hsv- formed a co-partner-
s.-p under tie fru name Of Maclay & Mutually for
,as Transaction 1f general commission business in
ss1-tes
PHILADELPHIA STOCKS.
11ss.1 Charles J.. Barney & CO, No ? Broad