New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-09-12
TOPICS OF THE STREET.

FOREIGN TRADING--Foreign houses dealt On
both sides OF the local market. sales and purchasss
being about evenly divided In the London narkst
American stocks were irregular. while the general
market closed without important price changes
Rio Ttnto issues were lower. Consols were IN
changed Cable dispatches indicated considerable
nervousness at the British capital over the sparu-
lattve position here. Money in the London market
was easy, with no indication Of imme6la.s
hardening in rates The Bank Of England repo-sa
further Withdrawals Of gold for the account q
Egypt. It IS expected that the Continent win So
cure all Of the South African gold that VIII 10
offered IN the open market tomorrow.
COPPER TRADE CONDITIONS.-Walksrs COZ
per letter says: Copper IS shade lower LAks
Is 1880 TO 1916. and electroyUtc IS 1914 70 1916
a pound II is reported that a domestic spsculs-
tive interest threw its holdings on the market a
few days ago and forced the reaction IN prices
This has shaken the confidence OF consuming IN
terests somewhat and caused a decided hesitation
In the buying demand. Should the figures 70 81
presented to-day by the Copper Producers Asso-
citation be unfavorable (they VIII appear too lara
for consideration In this letter. or fail to indicate
a continuing gain OF consumption on production
they may cause a further slight decline IN prices
There Is to fear that the price Of copper
will decline below 13c. however as there are very
few If any producers who will sell at anything less
than current prices There has been slight falling
on In European consumption. due 70 business N
settlement occastoned by political agitation arising
froTn excessive government expenses and inc-sas-
ing taxation. This is regarded as merely a passing
cloud. however, and business authorities who ara
European Industrial situation IS about really 70
begin showing decided improvement The domestic
consumption Of copper is increasing steadily Thsrs
Is basis for the belief that il amounts % b
tween 65,0O0O00 and 7O.00O,O0O pounds monthly
By November il should increase TO S0000o9
pounds. taking care OF approximately rwo-thiEds o.
the American production II the expected IMPROVE
ment In European business conditions IS rsalzs1
exports will increase and all OF the surplus cop1c
will go into consumption before the end Of the yaz
AS soon as Unmistakable evidence appears 70 pr1Ss
that consumption Is exceeding current protuctcn
the price OF the metal viii advance 70 around l'c
THE MOVEMENT OF COTTONLThs total port
receipts OF cotton. indicated by The FinAnczl
Chronicle. are as follows: For the week ended
September 10. the total receipts 154S56 bales
against 1,420 bales the preceding week. maNas
the total receipts since September = 1893. ~
bales. as against Isl. loo bales for the same peru
OF 1903. showing a decrease since September j. -
OF 1878 bales Weather reports from The Sonfn
Indicate that favorable picking weather mas -
vailed during the week. In many sections usf9
has been no rain, and at points where ran A4s
fallen the precipitation has been light. P1c1ns y
consequence is actively IN progress, and the no'S-
ment OF cotton 10 market has been quite nee.
BANK CLEARINGS.-The total bank clea-fsss
for the United States for the week ended Seplsoo1
IL, 1903 zone day esIimated). were SsSlSeos-s
against 500 65SOS9 last week and &-20 lV14s' ~
the corresponding week or last year. Cona2A-oN
with last year. the total bank clearinss have -
creased 169 Per cent New York shows an -
crease OF 20S per cent Chicago OF 1IS per eeSt -
ST. Louis OF lis per cent while Boston s1o"s
decrease Of per cent