New-York tribune., 1910-06-26
GREENWICH SAVINGS BANK
TOPICS OF THE STREET.

COPPER TRADE CONDITIONS.-Walk
er's Copper Letter says: Copper IS sHs,.a5ss--
" more active but lower. Lake IS Iza4
cents and electrolytic is l2ss TO l29s cenIS
pound. Numerous sales have been mace
recently at the prices quoted Domesuc
consumption continues at approximately
the highest record rate, and European CON
sumption is showing a steady increase.
During the first half Of June the forelgn a
visible supply of copper decreased 2,ols,ooo
pounds and since March there has been
shrnkage of IS, ,16o pounds in the Euro
pean surplus The prospects are that al
around 12 cents European consumers VIII
come into the market and buy heavily IL
does not seem probable. therefore, that
copper will go any lower than II cents
even should the price drop 10 that level.
With steel and other metals at their pres
ent price levels there cannot fail TO be
very considerable increase In the consump-
ton of copper when 1t strikes L-ceht
level"
DIVIDENDS DECLARED. - Dividends
have been declared as follows: United
States Smelling. Refining and Mining COM
pany, regular quarterly ia per cent on the
preferred and l per cent on the common.
both payable July 15; the Electrical
Utilities Corporation, semi-annual 212 per
cent on the preferred, payable on July l.;
Standard Underground Cable Company.
regular quarterly per cent, payable on
July II; f. W. Bliss Company. regular
quarterly 215 per cent on the common and
2 per cent on the preferred. payable on
July 7: Associated Merchants Company,
regular quarterly IA per cent and an extra
fefred, and IL per cent and an extra one
fourth of 1 per cent on the second pre-
ferred, payable on July 10
BANK CLEARINGS.-The total bank
clearings for the United States for the
week ended June %. 1910 Zone day esti-
mated). according to The Financial Chron-
81 974. 225, AGO the preceding week and S3,027,-
05S, 746 for the corresponding week of last
year. Compared with last year the total
New York City reports a decrease of 14.S
per cent, Boston of SO per cent and Balti-
shows an Increase of % 6 per cent, St Louis
of 1916 per cent and Chicago of 6.S per
cent.
ATCHISON'S EARNINGS-The Atchison.
Topeka & Santa Fe reports for the month
of May On increase in gross earnings of
81 .o41 ,209 and a decrease in net earnings OF
$333. .576. comparison being made with the
made a poor showing in net for the last
few months, but in spite of increased ex-
penditures the road is still earning well in
excess of common stock dividend require
ments-
MINNEAPOLIS & ST. LOUISA sale of
100 shares of Minneapolis & St Louis pre-
ferred was recorded on the Stock Exchange
yesterday at so a decline from the last
preceding sale of is points. 1t was the first
sale since the passing OF the dividend.
DEMAND FOR SPOT COTTON.-A good
inquiry is reported for spot cotton, and ad-
vices from abroad state that the recent
heavy shipments from America are meet
ing with good demand There VIII prob
ably be further shipment of $1,000 bales
from local stocks during the rest of the
month. and this puts the near months in
very strong position and keeps shorts ner-
vouS.
FIRST BALE OF COTTON.-The first
bale of cotton of the new crop was ginned
at Mercedes, Tex, on Wednesday and has
arrived at Houston on its way TO New
York. This is five days earlier than the
first bale of last year
NEW PRESIDENT FOR TEXAS CEN
TRAL.-R. II. Baker has been elected presi-
dent of the Texas Central Railroad, to sue
ceed Harry X. McHarg, who resigned. r.
S. Rice. of Houston, and Frank Andrews
have been elected to the board.