New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-10-16
TOPICS OF THE STREET.

COPPER TRADE CONDlIlONS--A Slh-
eTs Copper Letter says.
Copper is stronger Lake is now Is cents
and electrolYtic is l2S4 cents pound. DO,
neSflc consumers are showing an increased
disposition 10 buy and foreign consumers
are purchasing heavily. Although great
many rUmoTs are IN circulation TO the Ell
feet that the brass business Is gettlns
slack there Is absolutely reliable lnIornd-
rion which goes to prove that the con-
sumption Of copper Is still steadily lncreas-
ing both in this country and in Europe.
The figures presented by the Copper Pro
ducers' Association. covering the month OF
September. We're even more faVoraDi than
expected The American surplus decrease
2r-0Ss.5Sl pounds, and the WORLDS Vislpie
surplus showed a shrinkage during the
month OF about 100000 pounds. There
was heavy increase IN exports ana
only 4 slight decrease in domestic deilv-
cries Production and imports were much
smaller The general turn for the better,
indicated hv this report, was brought about
without the aid of the production curtaii-
1utnt which began about two months ago,
in September refinery output. The Pro,
duCeTs' reports Of the coming several
months. Therefore. should show much
larger decreases IN the world surplus. ana
before mex year il far advanced the stats
neal position Of the metal should again he
very StronE. Consumption viii go on in
,.reasiug e. long - the metal remains al
Hs present low price level. and this, OF
course. VIII he Necessary in order TO ab-
sorb the existing surplus Of copper, the
accumulated old metal IN the hands OF
4 dealers and the current heavy production
M Is row very plain. however. that the
VI rcUmUlation OF surplus supplies Is thing
VI the past and that the metal situation
s. steadily growing stronger. Within a few
months copper should advance to u cents
pound.
BANK CLEARiNGS. - The total bank
clearings for the United States for the
week ended October % 1910 Zone day esu-
mated. according TO The Financial enron
icle~ were So So 5gS.65l, which compares
with S3,9s7 162 30 in the preceding week and
= 463 20 as cor tha week ending October l6.
Com cd -r-5Th Ia Ct x-a1
hank cleaTinsS have decreased 1873 per cent
New York City reports a decrease OF 80 per
cent. Boston Of Y per cent. PhiiadelpLi pm.
ri IS per cent and Chicago Of Il per cent,
while Baltimore shows an Increase Of 1875
per cent. st Louis Of ] per cent and New
orleans 81 Il per cent.
COTTON MOVEMENT TO DATE.-Sight
receipts of cotton in the last week Of 56O,
es6 bales were almost identical in amount
with those OF the year before last. when the
big crop OF l3.5St,CeJ bales was grown he
CeiUtS feil - 90 bales below last years
arrivals FOR the corresponding week. EST
mated Southern mill takinEs are S0.0C0
bales but il i believed the actual takings
during the last week under remarka bly,
general huNIng were somewhat larger than
these estimates Sight receipts for the last
three weeks have averaged little more
shan 5oo.we bales a week Total sight re-
oeipts for the season OF fOrty-fOur days TO
date We're 295S 9S5 bales. or larger than the
average for the last three Years for an
equal number OF days.
GENERAL MOTORS NOTES.-The re-
Gently arranged SlJ.OU1.lHN issue Of the Cen
oral Motor Company's per cent first lien
notes is being sold ~ s. ana interest. with
bonus Of - per cent in common stock. A
member Il the banking syndicate floating
TIE securities says that private subscrip
tons viii probably take up tie entire issue
end IL Is unlikely that 2 public offering Of
the notes viii be necessary.
DIVIDENDS DECLARED. - Dividends
have been declared a. follows: The Grand
Trunk Railway OF Canada regular semi
annual per cent on the guaranteed stock
and - ser cent both the first and sec
Ond preferred. payable November s: the
Mexican Railway Company. three-eighths
.o1 J pcr cent ~ the common. ! per cent
on the FIRST preferred and 3 Der cent on
the second preferred. the Henry Il. Worth
inSioL 'oinnaDA. regular Seali-annual @l2
per cent on tie preferred pa bic NoVeu1-
be- !. the Sears EoehUck Company. regular
quarterly ia per cent on the common. pay
able November j.. Tire Eastern Steamship
company. quarterly Ia per cent. an in
crease - Cue-quarte- Of per cent: the
United States EXprt - Company. regular
sernl-a0nCal s. payable November l..
HUDSON &. MANHATTAN RAILROAD.
Lev is L Clarke, president OF the Ameri-
can Exchange NatiODa3 Bank. has been
elected = director Of the Hudson & Manhat
tan Railroad Company. succeeding {. w
King resigned
REFINED SUGAR LOWER-11 refners
arc nOW on the basis % 40 cents for
standard eranuafed, which price the Fed
eral Company has been guotiu. for some
nme. This lS Il reduction Of > points.
AMERICAN TYPE FOUNDERS - The
A.nei lcan Type Founders Company has is
sued lis report for tie year ended August
u 1919. The income account compares as