New-York tribune., 1910-08-13
TOPICS OF THE STREET.

bought upward of 5000 shares in the local
stock market ,
BANKS GAIN CASH : The reported
movements of currency this week Indica'e "a,
a gain in cash held by the banks OF so iy,,
900, OF which s3.557.0O0 came from the the III III
terror The banks received from the AZ III
terror 80 34o,00 and shipped into the IL
terror S5,758. 900. including s2.09s.0OO natlohdl
bank notes sent to Washington for reueilp 80
tion. The gain from the interior was as, SSo Soc
557 900 Receipts of new gold were 81. l93. eo'
namely on New York Assay Off1ce cnechS;;
S. 463 900. of which $4,000 represented solu
bars imported from Mexico: on san r ran an
cisco Mint checks, 1896. 900, and on Sea,.Ie
Assay Office checks. $4,000. Ordinary s.G nIs
bursements by the Sub-Treasury were -,
s95 600. Payments by the banks 10 tne oiO
Treasury for customs internal revenue, ,
per cent redemption funds, etc, amounted
to so, 1874 600. showing a loss on SUD Ii -,
ury operations proper OF Sl,8s9Wy- n2
total gain from the interior ana oS orSsfror
the loss on Sub-TreaSury operations propnnnoo' ~
the net gain by the banks was so'ioi,,V.1-
The result of the currency movement t,Ls M,
week indicates that the tide Is gradudi!y
turning While there were no shlpHeu's. ~, ~ =
the interior out of the Ordinary, 5eI 'tlo ~
receipts snow decided faiIlnS on .orn az. -,
most cases are from nearby ana EASTER y
points and probably represents the return
of moneys spent al summer resorts IT,.
cetpts were about 100000 less thaii 1851
week while shipments were so0o,UO more
STEEL TRADE CONDITIONS.-The cur
rent month WILL Ii is thought in trace CIR
cles, show Il falling off in untitled tonnage
of the United States Steel Corporatfoh' ,, ~,
though whether or not the shrinkage VIII
be as large as reported in July VIII not pe
known until the latter part or the monlI;
Orders will reveal a shrinkage, compares
with the preceding month. ana shlp'lIeh,,S
will be smaller. Steel manufacturers 90
not look for any change in an upward III
rection until after the close OF tlis ihoht'-
The steel mills with current business cont
ing in and orders already booked, can con-
tinue operating at d fairly good rate during
the summer. There has been better uEtne
of steel products over the last Two odSs,
but this is regarded temporary Prices
for steel are holding we'll
COPPER MARKET.-Further sales os
copper We're made at l2a cents pouhu
Yesterday but this was not regarded as
the minimum price. certain producers
continued TO quote shade lower Ius
Butte properties are not pressing copper
month deliveries to domestic consumers
and exports have been heavy, ana ~ 10
because of this that producers look TOT q
favorable August statement from the toP,
per Producers ASSoeia ton Exports oI
copper for the week ended August II were
6233 tons. making for August total e2,
ports Of 1sSS tons, against 12,Ioo tons
in the same time last year 'For inc
month Of July exports of the metal were
23,01S tons, compared with 3o,ofo tons III
July, 1909.
AMERICAN SUGAR REFINING COM.
PANY.-With the declaration of the next
quarterly dividends of a per cent on pre-
ferrp0
Sugar Refining Company will have pald
per cent on the common stock Tor Ten
years consecutively and the same amount
on the preferred stock for twenty cqnsec-
utive years, or since the companys moor
poration, IN 1891 During its corporate
existence IL has averaged SO per cent on
the common stock, but il should De re-
membered that the common capitalization n
has been doubled during that period by
the time the company makes up It's mex
annual report 1t will have distrlb butett 20
IT. ch1 SiDCp ORGANIZATION
s144O0O,00 or more than twice its pres
ent capitalization
GRAIN EXPORTS FOR THE WEEK.
Bradstreet's report of the exports or
grain for the week. with comparisons fig
ures in bushels. is as follows; Wheat In.
cluding flour. 1.226,214, against IL 30
year; from July /, 7.549.957, contrasted
with s,7I4.o44 in the corresponding pc
riod of 1909 Corn 190.671. compared with
419.1b4 last week and 139,400 in this week
last year: from July 1. 1,90s.2s6. against
27.504 in the same period last year
INTERNATIONAL & GREAT NORTH
ERN.-The sale of the International &
Great Northern Railway Company under
foreclosure has been set for September .
next. The reorganization of the property
will probably take place under the third
are expected to buy in the property The
Goulds own s1.965,000 of the third mort
gage bonds out of total issue outstand-
ing of s2,965.0 900. and Will therefore con-
troll the reorganization
LEHIGH VALLEY.-Thompson Towle &
Co. say: The report comes from Phila-
delphia that the Lehigh Valley Railroad
Will hereafter declare its dividends quar-
terly instead of Semi-annUally. and tndt
next month the directors will place this
stock upon an 8 per cent basis by 6eclsr-
ing a quarterly dividend of per cent In
terests in this city closely identified with
the company state they have no knowledge
Of the reported intention of the directors
and that they believe the rumors to be un-
true. These interests are of the opinion
that the rurlors in question were based
upon the fact that the road is earning 3
per cent on its stock"
GENERAL. CHEMICAL STOCK IN
CREASE.-The stockholders of the General
Chemical Company have authorized an in
crease in the preferred stock of the COM
issue involves the exchange Of se,50o.Go
General Chemical stock for that of the
General Chemical Company of California.
the terms of which will be announced in a
week ten days
DIVIDENDS DECLARED. Dividends
have been declared as follows: The FL
Rayo Mines Company. regular quarterly 5
per cent. payable August 81: the Grand
Trunk Railway of Canada. regular semi
annual PIP per cent on the second pre-
ferred: American Chicle Company, regular
monthly / per cent on the common. payable
August 20: the American telegraph and
Gable Company, regular quarterly IA per
cent, payable September l.
GOLD ARRIVALS.-The Lusitanis- which
arrived yesterday. brought s.. 0.60o gold.
most of which was for the account of Laz-
ard Freres-