New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-10-24
TOPICS OF STREET

ro0RE1qN TRADING.-Forcign houses
add on balance in the local market. In
fbe .ZHdon market prices were heaNy III
the general list. with AileEtch issues rom
n london Was IN good demand, and loans
-,.re made by the Bank Of England Tor
Zen days which includes the Stock EX-
g-bance settlement period of 5i5 per cent.
ans were q trff7e easier. South African
I'D 10 the amount Of fl00,e00 will be
/ svsllabie in the open London market TO.
INLAND will secure the entire amount, ow-
go 10 the high discount rate. The bank
sent fS5,eoo gold TO Egypt yesterday. Inc
f, British institution advanced its buying
I rice FOR American gold eagles yesterday,
mich with the advance in local exchange
-sfes practically insures gold exports from
here this week.
THE IRON MARkET.-Rogers. Brown
4 Co say: The tremendous activity in
III finished products oVershadows every
irhing else in the iron and steel market
ro- the time being. The Steel Corporation
= renorted 10 be taking orders for new
material at an almost unprecedented rate
and tie independent companies are max
ing urO0OUtiOuately large sales. The buy
lfng liz railroads of cars and equipment on
"a large scale is perhaps the enc most no
4,ceahle feature. il is TO be hoped that
tbese orders. though somewhat belated.
nav helm relieve the car situation. which
* ALREADY strained in certain quarters, and
living nronise Of serious difficulty in the
TRANSPORTATION Of raw materials through
oft che winter months.
cSoPPER TRADE CONDTTIoNS.-Wall5
e.Ss Copper Letter says: Copper con-
1rues dull and, II anything, is slightly
assSier IN tone Lake is IS TO 1874 cents. and
siscs-oiytic IS e cents a pound There is
no pressure TO sell copper, but some of tue
SPECULATIVE interests who are interested In
making low quotations for settling prices
sre circulating bearish information and re-
porting offerings OF metal lower than have
quoted. Copper warrants are being SOLD ana
rauojed down in London, ana aoViees from
arfr u.
On the other hand, American consumption
rhis month viii probably exceed 60,000,000
rounds. Exports, which !ltue While ago
are now running better than 100000
pounds. Foreign business advices are be-
ginning 10 offer more encouragement than
hey did few months ago.
MOVEMENT OF COTTON.-The total
mort receipts Of cotton. as indicated by The
financial Chronicle" are as follows: For
Lhe week ended October .. the total re-
l,eipts were 450SS bales, against 442S7S
fI,ales the preceding week, making the total
receipts since September l. 1903, 2,406, SIC
7ales against 2.15z,454 bales for the same
period Of 1908. showing an increase since
Sebtembe-, 1909, OF 252.356 bales. Reports
ron the South indicate that the weather
Jas been favorable during the week Rain
fl7as been quite general in Texas. but con-
'@it'ons have fa~ored picking and marketing
II the crop
BANK CLEARINGs.-The total bank
Ciearlngs Of the United States for the
week ended October 3. 1909 zone day est
mated. were $500, 769, I29. comparing with
. 81 $500 n the preceding week and
g. ST.. 81 80 for the corresponding week OF
lsst year. Compared with last year the
Total hank cIeaTings have increased 81 0;
Der cent. New York city shows an IN,
crease OF 445 Per cent, Philadelphia OF 3s.t
-er cent New Orleans Of SIS per cent and
Chicago q 1913 per cent
NEW LUMBER COMPANY IN NORTH
WEST.-A company is being formed tC
lake over ana operate the $4,000 acres OF
ri-nber land purchased recently by the
American Finance and Securities Company
~ the Canadian Pacific Railway Company
ne property IS situated on Vancouver
Island, r. c, and II IS understood that the
price paid for il was approximately Sl-0GO,-
Or. mill will be erected on COweichar
Lake, near DuncanS. Vancouver, and the
EsqUimault & Nanaimo Railway. owned by
he Canadian Pacific, viii build a twenty
fhree-mlle road with logging spurs into the
property.
GOLD EXPORTS.-GoId 10 the amount
- 100000 was engaged yesterday for ship
-ueut 10 Brazil next week. making a tota
les- three DAYS. Sterling exchange was
strong yesterday. advancing so points. with
Indications pointing TO shipments Of gold
70 London in the current week.
SUCCESSOR TO CUBA EASTERN
RAILROAD COMPANY-The Guantanamo
d Western Railroad Company has beer
incorporated under the laws Of Maine with
10000 first preferred. $3.50. 600 second pre-
ferred and s. $50. 400 common stock. Il
succeed the Cubs Eastern Railroad Com.
Iany under the organization plan.
EXTRA DIVIDEND DECLARED.-Tht
directors OF the American Brass Company
have declared a regular quarterly dividend
- ? and an extra dividend Of 81, pay
able November /