New-York tribune., 1910-07-24
TOPICS OF THE STREET

1opPER CoNDITIONS.-wai cop
,er letter says;
r-,r,.- prices are holding at about last
.eet's level Lake Is l2a 10 oss cents ana
~see+rol,t;c is IaiA 20 l2Ss cents pound So
e. se am able to learn no very large lots
e -onper have changed hands recently, but
. aggregate OF current small transactions
-,okes I'D a very fair volume of business.
-S-e-,-1ers are buying only enough copper
- meet their present requirements. So far
ss csr be learned there has been only a
80 slight falling of in the domestic de-
ee56 The tendency Of the times seems
- he toward a larger consumption ali over
he world There is likely 10 be very
ferre increase in the buying demand for
rcnI,er IN the immediate future number
~ me considerable producers have definitely
decided 20 curtail their production without
- forTnsiity Of a trade agreement At the
ssr7e tine IL is known that negotiations
arn on aEain FOR : merger of large produc-
ige interests. Increasing curtailment will
certainly stop the downward course OF
nrices Consumers will appreciate this and
probably viii buy copper heavily. antici-
rating an advance There was a decrease
cf 7.52o pounds IN the foreign visible
suprly Of copper during the first fifteen
davs of this month. notwithstanding the
much heavier exports from this country
1.uriHE June. On Jaly I5 the foreign visible
Supply stood al 90 S56. .lso rounds This
compares with p. l3e 3O POUNDS on March
! decrease Of - ISS a4a pounds IL! four and
g hale months. IN the four months from
March 70 July the surplus in this coun-
r-v Increased 44.61slSS pounds. The fact
fnGT consumers Doth II 1niS country and IN
Europe are CARRYING much smaller work
tng stocks than they were earlier in the
year, taken together with the statistics
here presented, encourages the belief that
quite as much copper has been consumed
50 far this year ss has been produced
GOLD MOVEMENTS Campania
which arrived az this port yesterday.
Lszard Freres twenty-one boxes and to
the Hanover National Bank twenty-five
boxes The metal represented tcst secured
T. A-ax. 7-ay
market owing 70 the ease in money at
this centre and the somewhat higher dis
counts a ne British capital offerings of
long bills II the local sterling market prac-
JiCaly have ceased, 6 reflection of which
Is found n higher sterling rates. Gold
cannot oe imported a. a profit under pres
likely that New York viii be a bidder for
the South African weekly consignment of
Tomorrow Total geld import engs genents
eI1Ce July have been S. $50 0o0 of which
S9pt9eo was secured in Mexico and the
F- % @--ot -, II s1InT9n There was Withdrawn
god coin FOR shipment TO Canada
AUGUST DISBURSEMENTS = Dividend
and interest disbursements for August can
b estimated at sSS.o coo which co-qra-es
with Sc 10000 for the same month Of 1ase
year, Total dividends Up to date declared
psyable next month are 80, $685. coo. as
against S-e.451,eO in 1909 and SIS 46S eO9 IL,
laA The amount Of interest payable on
bonds outstanding Will aggregate S3s S21 600
MS compares with S5s so, 900 in August
-9@7. and S5S.S1S. .039 in August. 1908. Bv the
end Of The first eight months OF The cur
rem year there viii have been paid out in
dividends 50-.755.000 and in interest $500
30s9. or a total OF 8. .05S 1lS.o .ose This grand
total compares with $685.. o.. 0o0 for the cor
responding period Of last year.
BANK CLEA RINGS.-The total clearings
tor the United States for the week ended
July 3 1910 zone day estimated, according
g The Financial Chronicle" were 50 Te5-
$3.50. as compared with s., 0S5. 125 40 last
week and SS.00I, ,004, ,S33 for the corresponding
week Of last year Compared with last
yea--- the total bank clearings have de-
creased So per cent New York City re-
Ports decrease Of PA per cent All other
large cities show increases, among them
being Philadelphia. with an increase of f2
per cent s.. Louis with 15-2 per cent.
Chicago, with 55 per cent. and New Or
leans with 12.T per cent
COAL AND IRON NATIONAL BANK
Y J Ha1ahan. assistant TO the president
q the Erie Railroad. has been elected 10
the presidency Of the Coal and Iron Ma
tionai Bank. 70 succeed George Sheffield,
resigned
STOCK EXCHANGE SEAT TRANS
EREED--The New York Stock Exchange
membership of z. Townsend Irwin has been
-raRsferred to Charles r. Leau1y, at Shear
son. HsmuliH * Co.