New-York tribune., 1909-05-23
TOPICS oF THE STREET.

FOREIGN TRADING-Operations for foreign
account in the local stock market consisted IN
great part of evening transactions, purchases ez-
ceeding sales TO a small extent. In the London
market trading light in volume, except in
the mining department. in which active buying
was reported at advancing prices Can money al
the British capital was easy. and change Of
Importance was reported in discounts. Continental
markets were inactive. Austria is expected TO
secure the South African gold In the open Lonoon
market tomorrow.
COPPER TRADE CoNDITIoNs.-walkers cop
per letter says: Copper is decidedly stronger,
Lake is 137s6i31z cents and eIcctrolytic is l31sD
1314 cents pound. learn of sales Of 10000
pounds of lake copper at lz cents. and other con
siderable sales at 13ss Eectrolytic has solo
as high as 1917 cents Copper is moving much
freely and the surplus supplies are rapidly beng
exhausted. The outlook for the metal market IS
very much brighter than II has been at any preV-
time In the last two years The monthly reports
of the Producers Association are in a measure
misleading, Notwithstanding the care and EFFORTS
of the orginators TO make them perfectly accurate
and reliable This is due to the fact that the re-
ports are based upon stocks of copper on hanq ana
amounts delivered A large percentage Of the cop
per which was reported surplus last month had
been sold; delay in making deliveries forced tae
association 70 report this copper as surplus There
was over 100000 pounds Of copper on the docks at
Lake Superior which had been seid' and a deiay
of two or three days IN the opening Of navigation
prevented its movement. 1t was therefore reported
part of the surplus supplies rms undouoteulS
was true of copper other points. A leading cop
per man. who is as good a judge or the market as
know saws: The surplus supplies Of copper are
practically things Of the past AS soon as thsre
IS any further improvement in the volume OF gen
eraI business the little surplus remaining Will
vanish like snow before June sun feel con
fden that copper will sell at 10 cents popno IN
September"
NEW YORK STATE BANKERS ELECTION
At the annual meeting of Group VII OF tAe
New York State Bankers Association, held at the
Clearing House, the following were elected or1cers
and members of the executive committee for the
ensuing year, Frank a. Vanderlip, president Of the
National City Bank, chairman; Henderson NJ
Wolfe vice president Of the Northern Bank. seere.
tary and treasurer. F. B. Schenck, president or
the Liberty National Bank; Stuart G. Nelson vice
president OF the Seaboard National Bank; John G
McKeor. VICE president of the National Park Bank
{. H Inhof. vice-presdent OF the Chathan Ma
tional Bank; R w. Poor, president OF the Garfield
National Bank; H A Smith, vice president Of the
National Bank OF Commerce. and H 3. Faneher.
cashier o. the Fifth Avenue Bank. were elected TO
the executive committee
JUNE DISBURSE8IENTS.--The total dividend
and interest disbursements for June, 1909, are est
mated at more than SIS 600 000 which is an increase
over the corresponding month Of 1908. when the 10
tai was approximately 900 The dividend pay
rents so far declared total l150o0, as compared
with ss5. 600 IN June, 1908, and sS4226.ooo in
1907 which amounts the Disbursements by the IN
dustriaI and miscellaneous corporations nave d.
ways exceeded the total payments by the re-
ms lining companies. The interest payaole upon Ill
bonds June IS $40 55S 900. and this is 10 be COM
pared with S3s.245.0oO last June and SS6essooo IN
June, 1907.
COTTON MOVE8TENT.-''The Financial Chron-
icle" gives the total port receipts OF cotton loI
t,e week ended MAY 81 1902 $3.50 bales, against
IS 754 bales in the preceding week. making the
total receipts since the first OF September, lSs
Se3 $50 bales against 7.76S277 bales for the same
period Of Ia07-Os, showing increase since Sep
tenber ! 1903 Of 62555S bales, Rain has fallen In
most localities and at some points has been eX-
cessive In Texas the rain has been beneficial as
dry weather has been complained Of
BANK CLEARINGS.-The total bank clearings
OF the United States fcr the week ended May -
1909 zone day estimated according TO The Ftnan-
ciaI Chronicle" were $3055 550,5sl against Setl -
6eg116 in the preceding week and S2.6lo.loSIoo IN
the corresponding week Of last wear compared
with last wear the total weeks Cleartngs have IN
creased 10 per cent. New York city shows an
increase Of l46 per cent Baltimore OF 323 per cent
and Chicago Of enT per cent, while New orleans
shows decrease OF 3 Per cent
DOMINION COPPER---B. ". lincoln, chairman
Of the protective committee Of the Dominion Cop
per Company. says that deposits OF securities nave
been coming in so fast that il has been ilnposslp!e
10 keep track Of them The time for depcstting
securities under the protective committee plan ex-
pires tomorrow afternoon At o'clock
DIVIDENDS DISQUALIFICATION have been
declared as follows: Norfolk Railway & IAgat
Company regular segai-annual : Per cent. payable
June l. The AIilIer-Auairs Company senli-annuei
: uer cent PAYABLE demand Boston, Revere
Beach & Lynn Railroad regular seTni'annusl No .
payable July /
APPLICATION TO LIST.-ApPlication has oeen
made 10 the New York Stock Exchange TO LIST
S12 500 900 per cent leased line certificates OF the
Minneapolis ST Paul q Saut Ste Marie Railway