New-York tribune., 1909-06-13
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses were Ne.
active in the local market. sales and purchases
being about evenly divided In the London uua-kst
prices showed unimportant changes aud the trad.
ing without feature, except in the Kan
issues in which further activity reported
ConsoIs were heavy and American securities
showed irregularity on the exchanges and on ia
curb. Call money az the British capital was in
light demand and discounts were easier South
offered in the open London market tomorrow, and
probably the entire sum will be secured By ths
Bank Of England
COPPER TRADE CONDITIoNs.-waIker's COD
per letter says: Copper prices continue 20 advance
Lake is 13}4 cents to II cents and electrolv,~ IA
1874 cents to 1874 cents per pound Sales ard
deliveries have reached record breaking volume
during the past month or two, and the surplus
strpply which has been a menace % prsces f,r
nearly two years past has been almost coupisteiy
absorbed In my numerous visits 20 the Lake
Superior district. during the past eleven wears
have never before seen 50 little copper at tbs
srneters and on the docks there IS al the ores
time. No sreiter in the district has as much
one weeks production on hand Calnuet and
Fecla did not have a full DAYS production o., ,s
dock The Copper Producers Association reports
a fUrthsr decrease Of 1890, 900 pounds IN the
visible supplies during May. notwithstanding that
last months production was almost 5000 900 pounds
greater than the April output The total surplus is
now given as 16a as4s. 900 pounds considerable
portion OF This has been sold however Consumers
have bought great deal of copper for July and
August delivery. and are now trying to buy for
September account. The prediction Of IS cent cop
per by September. which ] published some time
ago. seems sure OF realization
IRON CONDITIONS-Roger Brown & Co say
OF the outlook: The developments Of the week
interesting and show distinct Improvement in the
general situation The railroads have placed orders
for a considerable tonna &c Of rails This follows
on the heels Of the most liberal purchasing Of
locomotives and cars that has been witnessed IN
many a long day. and altogether there is bright
prospect Of a steady improvement n demand rom
this quarter. The steel companies report i1creas-
Ing business n practically every department q
finished material. and the statement that fifteen
furnaces have been blown in By the different steel
producers shows that their consumption ts picking
up rapidly On the other hand. the number q
merchant furnaces in blast is reduced by hve, so
that production OF foundry grades Is temporarily
checked. and stocks will undoubtedly SHRINK N
proportion.
THE COTTON NOvENIENT.-Ths cotton move
u7ert indicated by The Financial Chronicle IS as
follows: For the week ended June II the total re-
ceipts reached 53 4s3 bales. against 5S.os bales in
the preceding week, making the total receipts since
September / 1865. s.50I22I bales. against Is6is26
bales for TIE same period Of ls0s-oI- showing an
increase since September, 1905, OF 1o4o.ooI Da-eS
Weather reports from the South indicate thai
favorable conditions have prevailed for tle iasI
v-eeb Rain has fallen IN most sections. but the
PRECIPITATION has been light IN the Tah
APPLICATIONS TO LIST.-ApDlication has been
made TO the Stock Exchange to LIST the folcW1ug
Chesapeake & Ohio Railway Company SoSigs" ao-
di,onaI general mortgage A per cent ponds Que
1oa9 Institution for EncOuTa cement OF Irrigation
Works and DEVELOPMENT OF AgrlcultaIe. S-g'-vo,-eo
:
1913
DIVIDENDS DECLARED-Dividends have been
declared as follows. Uni-ed Shoe Machinery tonl-
pany regular quarterly II per cent on tne
and per cent the common payable july >;
Hornestake Mining COMPANY regular monthly "
cents PAYABLE June .. Mobile c1io regular sen14-
annual 2I4 per cent. payable June =
LONDON UNDERGROUND BONDS FOR Re-
FINDING Ii 90 GO per cent hrst mortgages
powerhouSs debentures Just foated IN LONDON y
the UNDERGROUND Electric Railways Company Llr1-
tied VIII be used for refuudlnE purposes 70 taNe -
like amount OF ~ Der cent cebentuTes ma -tIls
CHICAGO GREAT WESTERN "" lSSCE
on CURB.-On the Curb vesterday a honliAal -.
ket made for CHICAGO Great - HssSsrn s, ns" -
sues. The common vas quoted al 10 F-sA7-+0~
az 55Gs5 and the bonds at SezlSZ
OFFICE REMOEAI.-The Bankers and Aer-
chants Agency Company. general adver1iSns
agent will remove its Offices 10 No. Wall s'FesI
tomorrow.
AMERICAN CAPITAL Abroad discuss.
ing the recent announcement Of the Intention ~
certain American bankers 70 enter the SollI
American field. a prominent banker commences
Yesterday that there was really 10 new departure
I'm this as at least Of the prominent intsIIls
tional houses had long ag0 realized the oppoll].s
ties presented BY the countries south OF rs. au-
had been successful IN Bolivia, where = Went .
pioneer and arranged for the CONSTRUCTION n
system OF railroads. with the government a. =
euarantor Of the cor1panys first mortgage oen.S
This firm is also interested IN the deveiopsle1.
the Philippine Islands having recently ANS
for The building Of additional mileage tor y
Manila Railroad Company. the bonds oelns s-1.
anteed as to interest by the Philippine GoveEn.
ment. 1t Is well known that SPsyer - - -
the first in this country 70 realize the strelsl
resources of Cuba ard took that country - $50
SIS. .0eO 600 bonds. which was one OF the mos. -,
cessful foreisn bond Horations in tnis - - 80
Within a corlpa ratfvely short time thereal1sI -
same firm purchased from the Mexican Oolst--
u1snt sac coo 600 of IT'S rer cent hcads- sA-
Gently took So GOO 600 OF irrigation Loan -
many of It's treasury warrants and short t'ii' ''-