New-York tribune., 1910-06-05
TOPICS OF THE STREET.

FOREIGN TRADING.-Foreign houses
bought upward OF 5000 shares IN the M MIoCa.
stock market, making a total @d o. a,,p5. Fl1got
10000 shares bought on balance iOr E4lO-
pean account IN the last week
COPPER TRADE CONDITIONS-I,Waa- Waik-
er's copper letter says: copper Is QuIee
and eIectrolytic is 122. to 13 cents pound
Since the furry which followed the puonca-
ton of the Producers Association statlStlCs
last month there has been only MODERATE
to purchase from week 10 week SuILCIeit1
copper to cover their actual current re.
uuirementS. and this represents the Dulk OF
present business The foreign demand con-
tfnueS to show improvement. Exports IOr
Nav exceeded those of April by over 1I,Vp'-
GOO pounds and Ir,sfEi s,In1Iv
decreased TIPS. 900 pounds during the mOntn-
TIE Copper Producers May figures. whlch
will appear next week. should snow SUD
stantiai decrease in the accumulated sur
plus. This undoubtedly Will encourage Heer
buying by consumers. PROVIDED there are
no further unfavorable business oeveIoP-
neuts in the mean time. The strongest
single factor In the copper situatiOn az IRE
present moment is the low price or the
metal Because of it's cheapnesS II IS en-
tering into competition with many Other
metals and materials, and. despite gen
orally unsatisfactory business cond1tlohS'
it's consumption is increasing. Ihe OUTLOOK
at the present moment is such as 70 en-
courage the belief that copper prices VIII
not change materially for two or three
however, II IS practically sure TO be IN
favor OF the producing interests.
MOVEMENT OF COTTON-The total
port receipts Of cotton, as indicated by
THE Financial Chronicle" are as follows: {:
For the week ended June the total re-
ceipts were 36,392 bales, against 5i.056 bales
in the preceding week; making the &c total sa5
bales, against $685. $50 bales for the same
period of 19GS-'O9. showing decrease since
September l. 1909, OF 2-557.072 bales Re
ports from the South indicate that weather
conditions have been favorable Where ram
has fallen in the week it has been 70 the
benefit OF cotton. The crop is reported as
doing we'll
JEFFERSON BANK DIRECTORS
connection with s. ID. Scudder's acceptance
Of the jefferson Banks presidency. and qIo ms
ing have been added to the directorate OF
that institution: Christian BahnSen. or .
Bahnsen & Co; James z. Fargo. treasurer
OF the American Express company. anu
Richard J. Scoles. a New Jersey banker
formerly vice-preSident of the Trust COM
pany OF America. This completes the num-
ent bylaws which IL is intended TO amend
later for an enlargement OF the board.
BANK CLEARINGS.-The total bank
cIearings for the United States for the
week ended June T. 1910 Zone day estimated;
according TO The Financial Chronicle,
were S3.17451S. .S24. which compares with y
COMPARED with last year. the total bank
Clearings have increased SIS per cent. New
York City reports an increase OF 10 per
cent, Philadelphia Of PA per cent and
New Orleans of s3 per cent, while Boston
shows a decrease of Is per cent and chi
cago of 4.S per cent
OF INTEREST TO NEW HAVEN COM
MI-TERS the quarter ended March 81
the New York, New Haven & Hartford
Railroad Company reports an increase IN
gross earnings of N.29&4I4 and an increase
in net earnings of $50, s3S For the month
of April net earnings OF this company m
creased S93. .433. With the help OF It's m
creased Communication rates the road ought
to be able to pay extra dividend for 1910
DIVIDENDS DECLARED. - Dividend:
have been declared as follows: Canadlar
car and Foundry Company. quarterly 1a
per cent on the preferred, payable July %
and IngcrsOIl-Rand Company. regular semi
annual 3 per cent on the preferred, payabl
July l.
NEW CONSOLIDATED MEMBERS
Leo Spingarn and John u. Webster, o
this city. and David Young. jr-, OF Newark <
have been elected members of the Console
dated Exchange.