New-York tribune., 1910-12-18

COPPER TRADE CONDITIONS.-Wa ak
er's Copper Letter VIII say:
Copper is quiet and a shade easier. Lake
is I3 to 1875 cents and electrolytic is 12$4
to 1875 cents pound Some disquieting ru-
morS have been circulated recently which
have had a tendency TO check the buying
demand. It has been said that the accuGlu-
lated surplus of copper is not disappearing
fast enough, and that ii Will be necessary
to further curtail production. l can state
positively, however, that the producing in
terests are very we'll satisfied with the way
the copper situation is developing, and that
they look forward to a somewhat higher
level of prices soon after the first of the
year. December is almost always a very
dull month in the copper selling business.
Consumers DO not like to arrange for heavy
deliveries OF copper just now or make new
contracts for the future. They prefer to
have the slate as nearly clean as possible
when they balance their accounts at the
end of the year. There is practically always
q large increase in the buying demand in
January, and undoubtedly 1t VIII be more
pronounced this year than for a long time
past. The coming five years promise to be
an epoch of great expansion in the cleo
trical business. Economy of production in
manufacturing, of railroad operation, etc,
are receiving more serious attention now
than ever. The high cost of labor on the
one hand and the concerted public demand
for lower prices on the other are forcing the
introduction Of every possible economy in
Industrial enterprises.
SUSOUEHANNA RAILWAY, LIGHT &
POWER COMPANY.-Bertron, Griscom *
jerks are calling attention TO the rapidly
increasing earnings of the Susquehanna
Railway Light and Power Company. This
IS a holding company, controlling through
stock ownership about fifteen public service
corporations furnishing gas, electric raif-
way or electric light service in representa-
tive cities in different sections OF the coun-
try. The company, which was incorporated
In Connecticut in February, 1907. has 81
O92 200 preferred stock and s403i,500 common
stock outstanding The balance annually
accruing from subsidiary companies after
diK-in.
from s92 SO2 II in 1908 to $3.50 132 9S for the
year ended October 81 1910, or over 400 per
were $84l,592, against $672,19S in 1909, and
net earnings We're 1894. 742 in 1910, against
1923 405 in 1909 and $685. in 1893. After
dividends of $204.610 and reserve for depre-
ciation of S115 793. the surplus for the cur
rent year is $2l4, ,339. compared with SlSi, ,053
in 1863 and $92,o02 in 1898. The surplus for
1910 is equal to upward OF per cent on the
common
have been declared as follows: The Ameri
can Seeding Machine Company regular
quarterly l12 per cent on the preferred . ,;t and
quarterly q of / per cent Oh the common,
both payable January 10. The Chatham
National Bank regular quarterly per cent
and an extra per cent, payable December
23 Parks. Davis & Co, regular quarterly
21% per cent and an extra per cent. The
Tennessee Copper Company 81 90, payable
January 26. The United Cigar Stores Cor.
poration quarterly 112 per cent and Y OF
/ per cent extra, payable January 10
CUBAN-AMERICAN SUGAR REPORT.
The Cuban-American Sugar Company re-
ports for the year ended September 80 gross
sales of SIS, SIT, ,667 gross profit of $2,Si6 49,;
net profit. $1,777,lS2 and surplus after divi-
dends S. 226.370 After allowing for Z per
cent on the preferred stock the net earnings
were equal to 20.5 per cent on the common.
BANK CLEARINGS-"The Financial
Chronicle" reports bank clearings for al!
cities last week of $3. 122. .SS3,0l6 decrease OF
10 per cent from the same week IN 1869. 1he
heavieat losses were in New York and Phil
adelphid.
APPLICATION To LIST Application
has been made to the New York Stock E,x-
change by the National Surety Co. TO list
$40, 900 additional capital stock.