New-York tribune., 1909-10-31
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses
were not active in the local market, dealln?
IN only q few thousand shares distributed
among sales and purchases. In the London
market prices as a rule Were strong, with
American shares closing under their best
Call money in the British capital was IN
strcos demand, with 5l2 per cent paid in
some instances. Discounts were rrlu;
South African gold 10 the amount of
ESOuCoO Will be available in the open Lon
don market Tomorrow, and Il Is likely the
Bank of England VIII secure the entire con-
Fignmeni. The London STOCK MAJ heI WIZ
be closed tomorrow, though II IS not
bank holiday
COPPER TRADE CONDITIONS-Walk
er's Copper Letter says: The copper mar
ket Is erratic. and n definite price can be
quoted. Lake IS selling from l2s4c to l3l4c.
and electrolytic from 12i2c 10 l3l4c. The
lower quotations are understood TO have
been made by the disposition Of small spec
Native holdings al forced sale. and the
higher quotations are those which the larg
est producing interests are actually getting
for the copper they are selling. II begins
20 look as II the greater portion Of the
speculative copper would be cleaned UP
soon ard the market left entirely TO pro
duCSrs and consumers. This VIII result IN
a closer range Of Did and asked prices and
open the way To Improvement. There Is
now every prospect that this months ex-
ports will show an increase over those Of
last month, and also that purchasers by
domestic consumers viii be considerably
heavier Consumption should Increase
steadily throughout the remainder Of this
year and II should be especially heavy six
or eight months hence. Electrical equip
rnent interests are predicting that the last
half of 1910 and the first half OF 1911 Will
witness . great expansion in electrical en-
terprise. They expect this period to be
much buster one than electrical manufact-
urerS have ever before experienced. and
they are confident that the consumption
OF copper wire VIII exceed all previous rec
orcs.
HEAVY STEEL ORDERS-It is under
stood that the United States Steel Corpora
tons new business in the first three weeks
Of the current month averaged between
$4,000 and $4,000 tons q day. or almost
double production. The heavy increase
was due largely TO the receipt of orders
from the railroad and equipment com
iiautes. The new business this month viii
aggregate a valuation between $50, ,000 900
and $4,000 Goa The United States Steel
tie'l as wfI as the independent
companies, have sold their possible prOduc
NoH several months ahead. and in certain
Ines are refusing new orders calling for
delivery before January !.
LhCKAWANNA'S EARNINGS-With a
b Per cent Increase in the capital stock
ot the LacSawanna the earnings Of the
company have increased propOrtionately
over those 81 last year. The large increase
IN earnings Is cue 70 the general business
recovery. There has been greater demand
for crop and Wercl audise TRANSPORTATION
t.Gce re hrst oi The Eear; and passenger
ali operations increased 81 l234754. or rs
Ter cent At tn" same time charges for
maintenance Of equipment decreased sI3l -
800 and for transportation expenses sos
b5S: and total operating expenses showed a
resulting 4ecrcare % Sl69,94l. or 1913 per
cert Net earnings increased S1,5SG, ,53l, or
1S.6 per cent.
MOVEMENT OF COTTON-The total
port receipts Of cotton, as indicated bv
1.-The Financial Chronicle" are as follows.
For the week ended October 90 the total
receipts were 420.01l bales, against $50. .H99
bales tie preceding week. making the total
receipts since September l. 1909, 2.S26.68l
bales, against 2.595,ll4 tales for the same
period Of I907-'0s, showing an Increase
since September l. 1909, Of 23I767 bales.
REPORTS from TIE South indicate that the
weather has been favorable in the week.