New-York tribune., 1909-12-25

FOREIGN TRADlNG.-FOreign houses
were not active In the local market. arbi-
TRACE transactions being confined TO orders
sent over at the opening. Moderate pur-
chases OF Rock Island and United States
Steel we're reported
COPPER TRADE CONDITIONS.-walk-
ers copper letter says:
The tone Of the copper market is stronger
Lake is 1924 % Ia cents and electrolytic
1895 TO IL cents pound. Although moth
ing has been given cut by those in posi-
tion to speak with authority. IL is known
that the leading producing interests have
reached an agreement 10 curtail their pro-
ductiOn about 10 per cent until the price
of the metal is higher The December pro-
ductiOn OF the mines Of the United States
rs expected 10 show falling OF of at least
per cent or per cent. and a like decrease
In January and February is probable. The
object OF this curtailment IS TO restore con-
hdence among consumers and permit the
remaining surplus supplies To be absorbed.
Viewed from a long range standpoint, the
outlook for copper is exceedingly bright.
Authorities on railroad development point
out that the volume of traffic Cn the rail-
roads OF this country doubled in the last
ten-year period They declare that il un-
questiOnably viii double again In the COM
ing decade. and. as the roads have already
practically reached the limits OF their carry
Ing capacity, new tracks and extensive ad-
ditions to terminals. equipment. etc. will
have 20 be provided. In view OF the fact
that through electrtfcatiO any given steam
railroad can increase It's Carving capacity
80 per cent without the construction OF any
new tracks or increased terminal facilities.
IL may Dt expected LildI the NOlk OF CndnK-
ing over from steam TO electricity will be
well under way much sooner than many
people have believed. When the electrih-
cation OF railroads is undertaken in big
way all OF the mines OF all kinds will be
unable 20 supply the amount Of copper
which will be required. and we shall in all
probability witness another 25-cent metal
market In the immediate future the price
of copper should go higher as the result OF
iincreaslng consumption Que 70 the steady
Improvement In general business condi-
tiOns. expect the price Of copper 10 ad-
vance above "a cents Immediately after the
cents by April or May.
DIVIDENDS DECLARED. - Dividends
have been declared as follows: East River
National Bank regular semi-annual 3 per
regular semi-annusl per cent. payable
January 3: Irving National Exchange Bank
nary HsW York Per duSR GfR' Bsnk regular I
semi-annusl % per cent. payable January
;: Union Switch and Signal Company. regu-
and preferred. Uaysble January 10: Texas
and Pacific Coal Company. quarterly 81 %
? share. payable January I: United States
Mortgage and Trust Company, regular
quarterly per cent, payable December
81; Dstilling Company of America. regular
quarterly ! Der cent. PAYABLE January 81;
quarterly per cent: National Copper
Bank. regular quarterly per cent, Oayt-
bic January p
SUB-TREASURY TRANSFERS.
graphic transfers 20 interior points through
the Sub-Treasury for account OF local
banks so far in the current year have
amounted 20 S1S.Sj2en OF this amount S17-
lS000 has gone To San Francisco. $50 600
20 New Orleans. S6o.0N0 To Chicago and
10000 10 Cincinnati
ELECTED DIRECTORS.-He r. lex
elhemer. OF FIeidelbach. IckeIheine- & 90,
and Allen n. Forbes. OF y ". Harris &
co. have been elected directors OF The
United States Mortgage and Trust COM
paLy.
GRAIN EXPORTS FOR THE WEEK
Bradstreet's reports the exports of grain
FOR the week. with comparisons. figures In
bushels, as follows. Wheat. flour included
S.I69.92s against 3S45.25S last week and q
oct.59i in this week last year; for the fiscal
year A0io.633. compared with i0l si7 eos m
the corresponding period last year. corn,
l,s5@,3li COUtIaSted with lO1S.635 last week
and S95.31s IN this week In 1895; for the fs-
cal year I.J45.sl2. against 903S.6Ss i'm the
same period last wear
d. PONT POWDER COMPANY ON
tG RB-The common stock of the r. / du
Pout DC NemOuTs Powder Company has
been introduced on the curb. Three is tSO-
quarterly dividends at the. rate OF per cent
per anUum. No transactions were reported
in The stock yesterday, hut n was quoted at
l25Gl@i2 The preferred stock and the
bonds are listed on the New York Stock
Exchange.
BOLIVIA RAILWAY BONDS -Spever &
60. have negotiated the sale of fl.J50Oo
hrst mortgage 3 per cent bonds % the
Bolivia Railway Company To the Banque
de Paris 81 des Pays Ras, Paris. and the
Lausanne a branch Of the Societe Cen
erale. Paris.
COPPER EXPORTS Exports of conner
for the week ended December - were ZOOS
tons. Since December I they have been
q $50 tons. against 1884 tons for the same