New-York tribune., 1909-01-31
TOPICS OF THE STREET.

FOREIGN TRADING--Foreign houses we're noe
active In the local market, selling on balance In
London consos and Russian bonds were strong
and the general market was firm on light volums
Of business. Call money was steady at the British
capital and in fair demand Paris exchanges On
London was at a level indicating that the Bank
of England will have no trouble IN securing all
the South African gold that will be available in
the open market tomorrow Gold amounting
f250OG was withdrawn from the bank for ship
rnent TO South America
COPPER TRADE CONDITIONs-WaIker's cop
per letter says: The copper market IL lower II
is stated on what appears be reliable authority
that lake can be purchased for If1s cents and
eIectrolytic for 1878 cents pound The largest
producing and selling interests continue 70 hold
their copper at 142t cents for lake and IA
cents for eleetrOlyJiC however, and II s tEs
unanimous opinion among them that they will
soon sell all they Cs..e to at these prices They
also believe that copper Will sell above Is cents
before the end OF the year The decline IN the
stock market and the circulation OF extravagant
misstatements TO the accumulated surplus of
copper are chiefly responsible for the present nes-
tancy on the part of consumers II IS an undenla-
bic fact, however. that American mines will pro-
Guce at least 100000 pounds more copper this
year than last It is also true that the demand
thing like 80 per cent Of the normal The financing
of large enterprises now under way should soon
bring an improvement in this department OF the
trade. however. and the demand from wire draw
ing concerns should quickly absorb the existing
surplus supplies of copper
CHANGES IN MACKAY & CO-The partnership
of the present firm of Mackay & Co. will sxptrs
by limitation January 81, Latham A FISH,
George D. Mackay and Frederick W kendr1ck re-
tring The business will be conducted under ths
same name and at the same address by the fol-
lowing: Donald Mackay. Of the present firm and
member of the New York Stock Exchange snea
1856; c. TrOwbridge HOllister. OF the present nrmf
Malcolm Sutherland Mackay. OF the senior
member, and George Herbert Burritt, for many
wears associated with the present firm head os
its bond department l. A Fish and George D.
Mackay will continue their present headquarters
MOVEMENT OF COTTON The Financial
Chronicle gives the total port receipts OF cotton
for the week ended January 1919. Z7i.756 bales
AGAINST 241 s5S bales in the preceding week. making
the total receipts since September l. Is0S, IS2o0'5
bales against 6.176099 bales for the same period ot
1907-'GS showing increase since September l. Es
of 1.144.573 bales. Weather has been generally "a
vorabIe during the week Precipitation was nod
light and temperature high for the season.
Picking Is StiII m progress in Arkansas Ihe crop
movement is quite free
BANK CLEARINGS-The total bank elearinss
OF the United States for the week ended January
30 Zone day estmatedt. according TO THE Flnancial
Chronicle" were S2.s6s 455oSi, against Saoib-Sio
in the preceding week and s. 10 for the cor
responding week Of IstS Compared with last year
the weeks total clearings have increased >. per
cent New York CITY shows an increase OF $ per
cent Boston I64 per and Chicago IS5 per cend-
MORE GOLD FOR ARGENTINA Is an
nounced that the National City Bank VIII snip
100000 gold to Argentina next Friday The tLans-
action understood To be for the account OF Lon
don bankers in settlement Of their debts IN SUM
America.
COBALT CENTRAI.-The closing Of the books
of the Cobalt Central Mines Company in preBara-
ton for the , per cent quarterly dividend % -
paid in the current week to stockholders OF reoVI
on January 15 diSClOses the fact that this j. one
OF the most widely distributed investment S'oVAS
in the mining world There were on the ua1Sls.
books Of the company the closing date -
stockholders their holding running from thousands
OF shares to low shares
ATLANTA BIRMINGHAM & ATLANTIC-Iae
receivers OF the Atlanta. birmingham & AtlanuO
Railroad have provided the fiscal agents WIN lunus
to pay the interest and matured tnstalulent ei
principal of the reads equipment bonds. series ,,
together with thirty days accrued interest Ion
January l.
TRI-BULLION'S REPORT.-The annual report
Of the Tri-Bullion Smelling and Development toa-
pany makes a good showing in view OF the u
pressed condition Of the metal and financial mar
kets in the last year. when the company NaS
working to complete it's plants. with the expecId-
tion of shipping a large scale In the stter
part of the year the company shipped three tlUG-
sand one hundred tons OF high grade ore ana -
now shipping regularly at a good profit.
PROCTER & GAMBLE STOCK lSSUE.-In'
Proctor & Gamble Co will issue SI50oO0o new eoIl-
mon stock. at par. to present holders The s'ocS
holders will vote March 2 and the new s'ocA
will be allotted one share for every six held