New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-10-10
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses were uus
active factors in the local market trading beng
evenly distributed between sales and purchases
In the London market prices showed little chaHgs
and dealings were conducted upon light scale.
Call money at the British capital was in Light de-
mand and the rate was sOTnsWha easier. Dis
counts. however. showed a frmer tendency. owing
to a further heavy inquiry at London for god.
The Bank OF England sent t3fQO00 to Egypt. Ea4eH
to Constantinople and $500 to Natal Paris and
Berlin exchange on London was higher.
COPPER MARKET - Walkers copper Letter
says: Copper IS Quiet and steady at Unchange3
prices. Lake is 1874 TO 1879 cents and electrOlyta
IS - to 1874 cents a pound Domestic buying s.
averaging slightly better than $4,000 0o0 pounds
monthly. and recently there has been slight IN.
prOvement in the foreign demand Exports are in
creasing again. having been larger last week than
in any like period since July The Copper Pro-
ducers' Association report, 10 be issued SATURDAY
or Monday. will probably show an increase in ths
visible stocks in this country OF ls00o00 70 2ee-
600 pounds, and. of course. viii be considered q
bear argument. In my opinion this is the last %
these reports that viii show an increase in the
American surplus for long time. 70 come. ] be-
Heve that consumption is slightly in excess on
production AS soon as this fact begins 70 sao"
IN the producers statements and in the foreign
visible supply figures the price OF copper viii ad~
While 1t is true that the production Of cop
per has been increasing very rapidly during lns
last few years. ii IS also true that there VIII oe 40
further considerable increase in production Cor a
year or eighteen months to come The next as
producers to be added 70 the list will be Miami
and Ray Consolidated. Inc IrSL VIII DecOlc -
producer in about twelve TO fifteen months. ana
the latter VIII not figure in the market inside o.
two years There will be some increase ID IA9
mean time from British Columbia. Utah. Arizona
and Mexico; but the aggregate OF this win hala.s
exceed 50O00.000 pot ndS annually It IS douotLu
the 1910 production shows increase OF peg
cent over that of the present year The leg oupgs
may exceed that Of 1908 by 10 per cent IRIS YEAS
consumption however. will probably show gam
Of at least 30 per cent, and there VIII likely oe
further increase OF So per cent next year FIosF
poets OF higher prices for the metal are even os.
ter now than they have been az any previous TINS
this year.
IRON MARKET CONDITIONS. Rogers. B!0G1
& Co. say: "The week totals large sales OF ps
iron again. One or two markets show less acl1e
interest, as buyers nave pretty well covered ~
four or five months requirements. but the general
movement keeps with little or no aoatemsL.
Sales Of basic the largest single units n -
Eastern market. tOtalung at least I.00 20 -
TONS part of this purchase by the Steel CoEpolsl
ton. Foundry aggregate making a large -
Prices. notably the part OF the lake FURNACES
Virginia stacks. have been further advSaeI
There are rumors of foreign iron being pureasss,
but these seem a little premature. IL IS not - -
that any large volume OF imports Will taAe -
this year In fact, prices would have 20 @e,sss -
considerably further before Importation WuS-sk
profitable except a few points On seaoo@Fu ~,
exceptional unloading facilities. The tone -
whole market IS strong, hopeful and heai'H'
MOVEMENT OF COTTON.-The total por, -
ceipts of cotton are as follows; For t le 49,
against 37SS9S bales In the preceding WeeN' H-,srS
the total receipts since September I. 1917 As.sg
bales against I.S6+070 bales for the same -
OF 1905 showing an increase since Septelse-
1909, of I49 05S bales. Weather reports axe t.ss.
able Over a large part of the West dFy ~ ~
has prevailed and where rain has Iallen ~, ~ 80
cipitation has In the main been light FicA,u9 -
made rapid progress and the marAet'hs u w
Is n very free scale.
BANK CI4EARINGS- total bank eieJ.S
OF the United States for the week ended ~ gS.u.
1909 zone day estimatetD, according 70 Lug ,-aa
cIal Chronicle" were $685. S52. as conpaleN -
s. 90 ~ So for the corresponding week OF o.
AS compared with asst year, the bank ese' ~
show an increase OF SIC peI cent New toa - .sat:
increases. 5OT per cent; Philadelphla - - ,ons
Chicago. 22T per cent, and St Louis -o'f P' -
APPLICATIONS To LIS1.-Applcation mas as, rs m,
made TO the New York Stock Exchange 20 - q
following securities: Westinghouse h-eNUs ser
Manufacturing Company. $252e.1e0 ten-yeal 9se-
cent collateral notes. due 1871. ana NeN - esrs
phone Company l4i5.e0 first mor's9se
bonds, due 1855.
DIVIDEND DECI4APED.-The United hAlnrtsr-I
OF the Havana and Regla Warehouses mas N's 800
a dividend OF per cent on the oFui,''I ,S.,nsr {
payable October 10 20 holders Of FeeotV 49,