New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-14
TOPICS OF THE STREET.

COPPER TRADE CONDITIONS. : Wal
ker's copper letter says: Topper 1l -
is 13c and electroIytic is Use TO lZ@.c
pound. Consumers are in the market
bidding for big lots at 12l2c- 1t appears;
however, that the producers are pretty Wen
sold out, and that by far the greater por-
ton of the existing worlds surplus -
owned by speculators- The better trend OF
statistical figures in the last few months
has given the speculative interests new
courage, and they are showing little dlSpo-
sition TO sell If they hold their copper for
a rise they will probably benefit TO the ex-
tent of a cent or more a pound WITHIN q
few weeks. The report of the Copper Pro
ducers' Association covering the month or
July was a much more favorable showing
than had been generally expected ESI-
mates of the probable increase in American
stocks of copper had ranged all the way
from ten million to twenty million pounds,
but the actual increase was only 2S4 DOL
pounds AS Europe's accumulation de-
creased 10,5S8,S $50 pounds in July, the world
surplus actually shrank S,313,659 pounds dur
ing the month. On December 81 the world
surplus was 3S5,975391 pounds, and on July
81 it was 3a2, $50, 038 pounds, an increase of
only $3.50. CAT pounds in seven months July S
American production was uS,370,003 pounds
comparing with 127,219,1SS pounds in June,
indicating that cUrtailment of output is al
isfy me tn t the turn in the copper situation
for the better is already a reality
DETROIT, TOLEDO & IRONTON RAIL
WAY-A committee consisting of John
Alvin Young, chairman, president of the
Windsor Trust Company, New York: STRAIT
hearn Hendrie. Detroit; F. Ross Williams
and Benson Foraker, Cincinnati: George W.
Young. New York; George II. Worthington.
Cleveland; Francis Henderson, New York;
James j. Robson, Toledo, and Warren w.
Foster, New York, with Howard c.. Dick
inson. of No. 26 Exchange Place, New York,
as secretary, announces to the holders
OF the consolidated mortgage a. per cent
bonds that, at the request of the holders
OF large amount of the securities, they
have consented to act as a reorganization
committee
BANK CLEARINGS.-Tota bank clear
lngS of all the clearing houses of the United
States for the week ended August 10 Zone
DAY est1mated), as compiled by The Finan-
cial Chronicle" were 81 5S1 S79,47o against
g, 30l 633 in the preceding week and So
098, 1913 in the corresponding week last
year Total bank clearings of all cities this
week decreased 1873 per cent, as compared
with the same week last year. Bank clear
ings of New York City decreased 236 per
cent; Boston. 12.5 per cent; Chicago. 6.5 per
WHEAT NEAR ACTIVE EXPORT
BASIS.-Prices for wheat recently have
been gradually approaching an export basis
and on Thursday and Friday there were
sales reported of about 100000 bushels of
American wheat, principally 10 France by
way of Baltimore. although Germany was
also in the market for wheat and there
was moderate business reported in Mani
TOBIAS.
M'KINLEY-DARRAG EXTRA DIVI-
DEND--McKinley- Darragh-Savag Mines
company OF Cobalt has declared the regu-
lar quarterly dividend of per cent and
an extra dividend of per cent payable
October 1.
COTTON EXCHANGE SEAT SOLD
Inc Cotton Exchange membership of J.
n Wisner has been sold to Edward
Moyse for St000. The last preceding sale
was S3,500.