New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-07
TOPICS OF THE STREET.

COPPER TRADE CoNDITIoNs.-waik
Ar's copper letter says: Copper Is stronger
i21s TO l2X cents a pound Consumers are
buying more freely and providing for their
distant future requirements. The policy OF
eurtsment now quite generally N ,. dNres N n
the trade; but more powerful innuence
making for optimism IS the fact that con-
sumption increased with leaps ana 9 20 hsd
come to be quite clearly demonstrated tnat
consumers would take all the copper that
could possibly be turned out by existing
reduction plants at around Il to 1913 cents
. pound. Our European advices FOR some
time past have told Of rapidly increasing
consumption in Great Britain, France; Ger
ports from this country have been increas,
tons. May a,ssa tons, June q $50 tons and
has steadily declined. 1t decreased s.os2, =
500 pounds In the last half Of July and a
total Of io. As, 800 pounds In the month. On
los IS tons ~" and the August fisures show
only $50 tons. decrease OF Il, $50 tons,
or I.126, 400 pounds in five months The
for July. which viii appear next week, is
expected to show a further increase In the
American surplus. but during the re-
mainder OF the year decreases snouio oe
Iieve that no regular curtailment agreement
has been entered into, but that the large
producers have generally expressed TO one
another determination to curtail produc-
ton suf1ciently to put the price OF copper
up around IA cents and maintain 1t there
THE BUSINESS. SITUATION. = The
Wall street Journal 9nosss t" t5s
outlook: J. B. Forgan. president Of the
First National Bank. says: "Notwithstand-
ing the general talk about decreasing ousi-
ness, from what I can learn | believe the
tide has turned and business is slowly in
creasing. Chicago banks are in better
and general business demands. but out-of-
town banks are not so we'll prepared Coun-
try balances are not Ss large as they have
rather too freely on land enterprises, and
as result are rather short of cash The
bond market IL absolutely at standstill
perceptibly few weeks ago and has not
George N. Reynolds. president Of the Con
Slackening up Of business was due TO fear
for the corn crop. but now that the corn
crop Is assured. business is picking up
There Is no question but what we will have
tight money this fall The crop moving de-
mand will naturally cause such q condition
to esf the siist;on Wh,le ven do nat be
lieve the period Of readjustT1ent through
which we are passing is by any means over,
oeei ra ,ss and tn nos Of 1ne n
general must reach a lower level. At the
same time the public is cogni1ant Of the
not come when We are prepared for them"
RECORD COFFEE PRICES-Recently.
there have been steady advances in the
price OF coffee at Hayre. until to-day 80
francs was bid for March. This estab-
lished the highest price attained in some
years. The French coffee market has been
leading in the advance right along There
Is liberal French short interest in the
New York market. but IN spite OF this
bullish sentiment IL said to be gaining
ground abroad. Light receipts of coffee
at primary points. very firm holding of
coffee by Brazilian merchants and light
Invisible supplies In the United States
markets have given the holders of actual
coffee the world over the idea that prices
will 80 much higher. There has been an
advance In New York of about I cent q
pound in the future market with two
months past
UTAH COPPER CoMPANY-Utah Cop
per Company's report for the second quar-
ter. ended June 80. Of its calendar and
fiscal year, shows what the company can
DO on an average selling price for copper
for the quarter Of s1,54Ss79. equal TO 1906
per cent on the $4,000 shares outstanding.
After dividends Of H.i55.24s. the surplus
balance for the quarter of 1888. f3S - equiva-
lent to e.S per cent on the total par value
of the company's stock At this rate earn
inEs for the year would show 4o2 per
cent. or 1872 per cent In excess OF dividend