New-York tribune., 1909-10-08
TOPICS OF THE STREET.

rOz-cNz -rpArDTAC-Foreign houses dealt in
cr!y few shares in the local market, troUhle WIN
rr- cable restricting business IN the London
-~--Le- American stocks were heavy. While the
rsrersl lts- acted well in spite of an advance n
the minimum discount rate of the @ Bahk OF Ei.s
land open market discounts az the br-I'sIl caL't
were strong; also at Paris. The weekly return OF
TIE Bank Of England showed a decline IN reserve
@. Z. 3zl 600 from q week ago, the proportion o.
-ese--e 10 liability standing 45-2l per cent,
against 5036 last week and 5o.S5 per cent al TINS
r.-e ii 1905 Apparently abnomally easy money
London IS over Tor the year JUST q il i ~ '
New York market
RECORD SEPTEMBER BANK CLEAH-Ic>tIs7,---
Bradstreet's Tomorrow viii say: It Is cheeIl u
tale that figures Of bank cleaIlnss ten blese O9S
They indicate prUgress expansion IN trade ana
tJw Far the country has marched from depression
These words are indeed corrob5rated by me Latess
data on payments through the clearing houses ot
the nation. Thus, hank cleartngs for September
l0s cities ~ The United States aggregated $-S-
ssf 5s2 Is6 That sum represents only very s'liaH
gain over August-not quite ] per cehl-I,nL L'e
true significance Of the total may be readily ap-
p7scsted when Is stated that II Is the largest
ever recoT Led for the month oi SepteiIiieI- II
shows sr Incres Of 2lT per cent over September
1868. when such payments We're creeping toward
fghet le,,eIs-uhen the lethargic condition incl
derr 70 depression were being rapidly cast on II
rejects an advance Of q per cent over September
1877. by which time trade and industry were re-
oedrg and IL displays gain of - per cent over
September, 1905 month iu which speculation was
very much IN evidence
MONTY MARKET CONDITIONS Banks re-
EeueS call loans yesterday on 2 A.. and per cent
basis Prtisdeiuhia and Boston institutions being
ne chief lenders. Time money was hrrler anu
Sterling rates were unchanged. demand bills selling
most of the day 465-s- The idea that gold i'm
ports V-l be made IS indorsed in Well informed
barking circles, except The possibility Of small
shipments from tho other side for speculative pur-
poses lr admitted Heavy requirements 10y Lon
don against this -eHtre viii have 10 be provided
f1r within the neat few weeks, including the
80 100000 issue II New York City warrants. due
e. London on November !, and from S5.oo70oo 10
tl9e00.eeC New York CITY notes that mature al
London and Paris in November and December
finance bills were plt out here yesieIaAN 10 Il
Hoaerate extent H'aFE shipments ~ c1ifeic5
were made the South and West The banks
received sIG00,005 from the Suh-Treasury fort the
account ot the fiscal agents 0f tie Philippine gov
errment.
DAVIs-DALY COPPER COMPANY.-F A.
-cuZe. president Of the aVis-Ibsly copper Com
iAry has Issued circular 10 stockholders IS a
teI'y 70 the corp aints Of certain u their num-
Der After reviewing the situation Mr.. Heinzs
says ! have very large-la fact, the largest
Interest IN the company owning one hundred
fas Heen most gratifying It's future should rot
be ~ 1angered by ineNperience ! acknowledge my
oli!gsuon for the support sou have accorded me
ed which confidently believe viii not be- with
craVr by reason Of Hiudicfiye and sr0uudlcss ac-
f'4saions. II the Boston stockholders VIII get To-
t-lilef and indicate their preference shall he
FerF glad pat tWo Boston representlI lives on
''+ board ~ the coming meeting
DIEIBENDS DECLARED Dividends have been
eeoarec follows InteruationaI Steam Pump
rYii'srf. reg Ilar quarterly li2 per cent the
pfeie-reG. us yafe November J. I.anston Mono
- Machine Company. quarterly il per cent. the
llfsi dividend iU over two years. United States
h-nheI. 'Eular quarterly per on the drst
M-ierred and IA nor cent The second preferred
peFab-e October 81
lIDDUCE EXCHANGE SEATS HIGHER
80 oa tAc Iro-uce Exchange have advanced 20
<fa' due D. ilEiue l.- curb interests IT, Tie last
~ AeeA' nftecn @e.abeTsaips nave been bought
- curb brokers. doubtless the idea ~ "A pos
''e ana lsanlation Of the curb market with the
Eloauce Ezcnsnge
@lo INTO DIVIDEND ADvANCED-The d.