New-York tribune., 1910-10-02
TOPICS OF THE STREET.

COPPER TRADE CONDITIONs.-walk
er's copper letter says:
Copper has been a shade weaker. Lake is
now l22s to 1874 cents and electroIyI1c Is
l21a cents a pound. The Calumet & Hecla
company reduced its asking price trOm Is
to 1224 cents. sold as much as 1T wished TO-
and then raised it's price to 13 cents again.
Its action caused two OF the Dig selling
agencies to reduce electrOlytic to 13la cents,
at which price there have been large sales
At the moment sentiment is improving
again. and il is not improbable that lake
will sell at 13 and electrOlytic at 12z4 cents
again within a week OF two The Copper
Producers statement for September. due TO
appear next week. is likely to show con-
siderable decrease in the American surplus.
1t is anticipated that there will be fur
ther reduction this month in the foreign
visible supply the statement covering the
first half of September, which showed de-
crease of over 100000 pounds, indtcat1n
progress in that direction Exports for sep
tember will be quite a little heavier than
in August and domestic deliveries this
month are believed 10 have been fully as
large if not larger The refinery produc-
ton is not expected to come up 20 the large
total of August. Curtailment of production
continues in practically all of the leading
copper producing districts This should be-
gin to show heavily in the producers state
ment TO be published in November, Decem-
ber and January Consumption the world
over continues TO expand, and the prospect
is that this will go long as the metal
sells around present low prices.
DIsTILLERS' SECURITIES REPORT
The report of the Distillers' Securities Cor
poration for the year ended June 80. 1910,
shows gross profits from all sources of s.,
723 $50, compared with S2,6s3, ,236 in the year
before, and net profits of s779.217. against
s734, ,206 in 1909. Total current liabilities as
of June 80 were $4.6O5.s17 compared with
81, S0S 1872 in the preceding year. of which
S.Al, $50 represented bank and other loans.
OF the loans S1.193,333 was on bank ac-
count and the balance from subsidiary COM
panfeS- Current assets were SlS,9S2 ,624
gross and $14,376,S06 net, and exclusive Of
real estate, trademarks, plants, goodwill
etc. were about equal to the cOmpany's
bonds outstanding.
PENNSYLVANIA'S EARNINGS-Earn-
ings of the Pennsylvania Railroad for the
month of August show on the lines east
of PittsbuTg increase in gross of 1888,
400 and decrease in net of s6S3. 100. On the
lines west of Pittsburg there was an in
crease in gross Of $1,06S, 400 and an increase
in net of S97400.
UNITED STATES FINISHING RE-
PORT.-The report of the United States
Finishing Company for the year ended June
pany finished 294.591 795 yards of goods.
equivalent to $50 miles. Gross income
was s.. .I22. 300; the cost of production S 635.-
664 and charges for maintenance and gem
era1 expenses $S52,SS2 Net earnings were
$754O O02, and surplus after interest and Givi-
dendS S2SS.l52 from which was deducted
$50. SIS for depreciation.
DIVIDENDS DECLARED. - Dividends
have been declared follows Standard
Underground Gable Company. regular quar-
terly 8 per cent, payable October 10: the
Standard Motor Construction Company. 2
per cent. payable October Is: the Palmer