New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-04-11
TOPICS OF THE STREET.

COPPER TRADE CONDlTIONS-T1 an Sot mat
per letter SAYS: Notwithstanding the laGo +be
pro5ction ie annarentIv exceeding consumption tfe
metal market is gradually Strengthening. ana
I3c 13sc and electrOlytic is l-4c 10 l. renored
Sales at ISfkc and 127sc. respectIVelS ointment
for June delivery. There is wdesPreao Lii dron
among consumers that the price OF copt con1nnuni-
hack around 12c again rms leellil6 .i1.otdrrr of
cated IN buyers and is causing Wlthloiulie a.
orders Consumption, therefore, Is hol 49, ors
normal course The stocks of copper Mi itS o.
III ma IN the hands of producers as visible sup
niles would be invisible under norma -,a-s
stances they would be carrisu ~ as drifting
The metal market may DE descrlpeu d" orls,Ir,,eTs
and until something happens 10 con al Continue
that the time to buy has arrived 1t VII .,g- III
dull and heavy Then the suipl19 1I-ar,oo 1c
r,c,-Ix- 5fsaDDear and metal prices VIII ddNdii
or % a mound Those few producers VINO are 1N an,
ing themselves of every possible oppor -
now Will have cause for regret later on me NJ -
alton is one in which the most opIlllileliSS - ~
the largest winners, whether tney DS pt yer
ane,,r,are rhe generation of hydro-eiectIlC pOWe
is certain TO receive widespread attention III ms
and coming years. EleCtrihcatlon OF steam i'li
roads will go ahead very rapidly Botn WIN ~
sumo a tremendous amount Oh coPPei. ,+itross
confident that within two years we shall WI'Ie =,
another copper famine; that cohSulilplIon "" ~
AGAIN exceed production, and That the mines VII! "
unable 10 supply the demand at a level OF prices
80 per cent above those now prevailing Inc copper
trade has been through similar experiences MANY
times in the past and the disposition of some OF
those who pose authorities to view the future
T,ith alarm, wouid be exceedingly amusing were II
not that it is distinctly harmful to all concerned
GRAIN EXPORTS.-Wheat, including -four eX-
ports from the United States and CANADA for tHe
week ended April S, reported by telegraph 10
Bradstreet's.' aggregate l063244 bushels against
l4l35a3 bushels in the preceding week and
245l,099 bushels this week last year For the
forty-one weeks ended April this year the
exports are 14S,5S504 bushels. against III
800 SIS bushels in the corresponding PERIOD 4ast
year Corn exports for the week 926 sos bushels,
against 102 244 bushels last week and IA bushels
In 1908 For the forIy-one weeks ended April corn
exports are 25,769,5oS bushels, against 4295lllS
bushels last year.
BANK CLEARINGS.-Ban clearings for the
first week of April were 80 per cent greater than
q year ago and SO per cent larger than in the
corresponding time in 1906. when trade was very
active, total exchanges this week at all Leading
cities in the United States being $32S9SI2f These
large figures denote heavy payments through the
banks. Compared with 1906, gains appear at New
York Boston, Chicago, Kansas City ana many
other Western points. Losses continue at Phila-
delphia, PittsbUrg, Baltimore, New Orleans and
San Francisco.
NEW STOCK EXCHANGE MEMBER.-RichaTd
H. Swartwout. of the banking firm OF Swartwout &
Appenzellar, has been elected a member OF the
New York Stock Exchange. The firm will add
well equipped stock department to its present or
ganization which up to this time has made spe-
cialty Of bonds and railroad notes.
RIO DE JANEIRO TRANIWAY.-The stockhold-
ers of the Rio de JaneiTo Tramway, Light and
Power Company viii vote May on PROPOSE
ton increase the capital from S25O000O to $40
0UC50 OF the stock only S6500000 will be is
sued at present, this amount already having been
underwTitten at par. The proceeds VIII be used for
construction work
RAILROAD Observation-Disclosures railroads
show for the last week in March total gross earn
fngs of $5295 03 net increase Of $1S41523 1884
per cent, over the time in 1868.
LAWYERS MORTGAGE COMPANY-The state
ment made Friday morning that the Lawyers
basis was not correct, The company is z
per cent annual basis.