New-York tribune., 1910-09-25
TOPICS OF THE STREET.

COPPER TRADE CONDITIONS-L1-W.a5 .5-;.S- aik-
er's copper letter says copper - t.aiT- 49,
ginC tendency. Lake is 1Z2sc to Iz1eC, ali az
eIectrOlytic is 1212c TO lzS&c pei PH4i--
Some electrOlytic has been Solo r,s.I-- LsSS -
at 12hc, and some lake at 1Z9sc- EACSpL -
take care Of pressing requirements, S CCI-
sumers have not been in the markSL Lo1
three weeks past. A few OF the SIIldI PIO
dIIcers and practically all consumers are
predicting lower prices; but the very HS@-Sy
and general restriction OF prOductlOh ~
substantially all the larger producers. IlauS
plain by their August figures OF mine S. 9Ile-
put cannot fail 70 be reflected IN the Cop
per Producers Association statements LII Lo-
November, December and January N nedSy
reductions in the worlds surplus II is Lie
ialmOst unanimous opinion thaI OOLuS9'.C
consumption must soon begin 70 sno~ q :
considerable falling off. AS q matter OF
fact however any one. predicting ySdL
ago that the average domestic cOnsur1pl !5 lI0Ii
be 65 600 600 bounds. as il has been. would
have been laughed at Just as II mas t4-
ceeded past expectations. so IS cOIlsUIIiP-
tiOn likely TO Tar OVerrun present piS0I
tiOus As long as metal prices continue
under 13c. the worlds consumption VIII 20
on expanding Considerably more copper
is now going into manufactures tnan Is
coming from the ground. and the surplus
cannot fail TO decrease steadily Ior SeNeIaI
months TO come. I understand thaI pro-
duCers VIII not encourage an advance 70 ~
more than 13c for electrolytic and 1544c 1or
lake until the statistics show the market
TO be in an entirely healthy POSITION 1nIs
change NAV come about suddenly. how
ever. for should the Copper PRODUCERS
figures. which will appear about two weeks
output, consumers are IN q position 70 Dly
up at one stroke practically all o. Ihs
worlds existing surplus
OCTOBER DISBURSEMENTS - Dtv1-
dend and interest disbursements for Octo-
Der are estimated at S163. COO .01O, as against
So. 100000 in 1909 and Sl34.oOO.OO0 IN 1913
Dividends payable in October aggregate
over $50 g76.0JO as against $S3. 49,. 900 in 1903
and S57. .420.OOO in 1905 Among the large dlvl-
dend payments 70 be made are S5,S4s 20 on
New York Central, &.O9OOlO on southern
Pacific cOTrmOn and 81, ,9e2-557 on Union Pa
cific common American Tobacco preferred
disburses S1.1S0.336 and General Electric
8, ,30S. $40. Interest payments aggregate 49,
21S 600. as against S70,6S6.o00 in 1909 and Sos
$4,000 in 1903. In the ten months OF the
OIrI approximately 81. .354. .5O4 coo. which com
pares with s., ,195, ,354, 900 for 1903 and N,uOZs-
729.oOO in 1908.
BANK CLEARINGs. - The total bank
clearings for the United States for the
week ended September a. 1910 zone day
estimatedG according to THE Financial
Chronicle" vere s.. 49, .1sO.S09. as compared
with s2.167, 1875 726 in the preceding week and
S3,2S 4S7,9lS FOR the week ending SepteIn-
Der %, 1909. Compared with last year the
total bank. clearings have decreased 80
crease of 2S.2 per cent, Philadelphia Of u
per cent and Chicago of per cent while
Baltimore shows an increase OF 1I.3 per
cent. ST. Louis Of ~ per cent and New
Orleans OF SO per cent
POPE MANUFACTURING COMPANY
The Pope Manufacturing Company re-
ports for The year ended July 81. 1910. in
come frOrn operations. after deducting
manufacturing and producing costs. de-
probation, repla cements. rentals and Of
fee and selling expenses. Of 500. 4S6. Other
income was $127 .9S9. making the total in
come S792. .4S5. Miscellaneous losses and ex-
penses were SsZO94. leaving the net income
S745,391. After dividends there was a sur
plus of $377.SS7
TO REPRESENT TITLE GUARANTEE
AND TRUST---Frank L. Sniffen, manager
OF the BrOoklyrl banking department OF The
Title Guarantee and Trust Company start
ed yesterday 7sOr Los Angeles to attend
the convention Of the American Bankers
Association. " here he will read paper
written by z. Q. Stanley, vice-president OF
the company, on the subject Shall Trust
Companies Oh arge for the Care OF Small
Accounts"
DIVIDENDS DECLARED. - Dividends
have been declared as follows. Union
Switch and Signal Company regular quar-
terlv per cent on the preferred and
per cent on the common, payable OctO-
Der 10: the Yale & TOwne Manufacturing
Company quarterly III per cent and an
extra 1 per cent. payable October 1. and
Big Four regular quarterly IL per cent on
the preferred, payable October /
APPLICATION TO LIST. - Application
has been made to the New York Stock
Exchange by the Chesapeake & Ohio Rail-
way Company to list S1500,O00 additional
general mortgage n per cent bonds of 1892