New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-02-27
TOPICS OF STREET

COPPER TRADE CoNDITloNS.-wa
crs copper letter says: copper continues
dull and the tone of the market is a shade
weaker. Lake is l33. 10 il cents and cleo
ITolNUc Is .Slr to 1873. cents pnund
The continued weakness of the speculative
metal market in Tendon. where prices
have declined recently 10 within the equiv
sient q NAH a cent pound of the low
level Of last year. * causing good deal
@ hesi'aton on the part q consumers.
Geli5 bic trade sdTiceS state. however thai
the foreign consumption OF copper ia he
ginning To show considerable increase
and the belief IS expressed mat ~ far the
Hfeater portion OF our current heavy eX-
ports are going 10 users of the metal and
Eot into ire hands Of spectators. Lead
in@ electrical interests tell ma that they
ane not receiving any cancellations ON CON
tracts ;or new equipment: thst in their
opinion che many large projects for the
generation of hYdro-electric power now
this yea: and next. an0 that within two
or three wears they expect TO have large
orGers for the equipment OF steam railroads
NNh electric power ihere Is every pros
poet that The consumption Of copper viii
increase very greatly this year, provided.
o. course, legislation ana ltlsaIion against
corporations are kept within sane and rea-
soI1ahle bounds. The mines Of Butte, which
normally pat out approximately 100000
pounds OF copper daily. are in part idie
a. The result OF labor troubles The Butte
market. and belieNe that those consumers
who fail to supply their future require
meniS Immediately at current prices VIII
nave 10 pay more a little later | Mess All
signs fail. the average price Of copper this
Year win be at least IA cents. and probably
u cents. pound
CUBAN LOAN SUCCESS L. - The
S5.5a0.co Republic OF Cuba AZ per cent gold
bonds offered by the Speyers In London
Yesterday morning proved a great success
and tire subscription books closed almost
Immediately after opening The issue was
MANY times oversubscribed. Al the office
81 Speyer & co. in this city il was stated
'hat large advance subscriptions had al
ready been received here and that the pres
ent issue of S.Seo.oo0 bonds. like the first
issue, would be many times oversu described
The subscription books viii close to-mor-
rev morning.
QUAKER OATS NEETING-The ar
nUal meeting OF the Quaker Oats Company
VIII be held March II at No. 10 Exchange
Place, Jersey City. No stock can be voted
DAYS next preceding this election Imme-
Giately following the annual meeting spe-
cal meeting OF the stockholders will be
held to vote upon the proposition of in
Creasing the common stock from S4,509,oGo
70 S.5Da eda. OF the additional stock Sooo,-
ers Of record May II The remaining $780,
40 will he offered 10 stockholders at discle-
lion Of the directors
DETROIT SOUTHERN COUPON PAY
II ENTs.-fiolders of certificates of deposit
representing Ohio southern DIVISION first
mortgage bonds of the Detroit Southern
Railroad Company have been requested by
the committee d n Wallace. chairman
70 present such certificates on and after
March Al the office Of the Central Trust
Company. 50 as TO receive payment OF The
interest coupons due on September !, 1909,
and March l.
NEW DIRECTORS ELECTED.-John II.
Jones and Frank Walker have been elected
directors OF the American Sewer PIPE
Company. to succeed r. ~ hohdoi ana
z G. Barker
SOUTHERN RAILWAY EARNINGS
Earnings Of the Southern Railway for the
month of January show an Increase IN
gross Of S444 pa and increase in net OF
2l99S61. For the seven months ended Janl-
any a gross earnings were $50 1851.
p.-1- y
year before and net earnings SloGl3Vi6,
compared with SS.o22.2I4 in the correspond
500 t7 n n SOS isS - ''e =
GREAT NORTHERN ORE-Notice has
heen received by the Stock Exchange from
the Controller OF the state OF New York
that he has been advised by The Attorney
General Of the state that IN his opinion
-ransa ctions in Great Northern Iron Prop
critics trustees certificates of beneficial in
1erest are not taxable under the stock
transfer tax law
BANK CLEARINGS- - The total bank
cLearings for the United States for the
week ended February =. 1910 zone day, day esii3
Inatedl according - to to, ne fin a. zee
-44.2l1 in the preceding week ana SZ,lo6.l4e.-
80 for the corresponding week OF last year
New York CITY reports = decrease over
,aSt Years figures of 60 per cent while
Philadelphia shows an increase OF la per
cent. Chicago Sc per cent ana New orleans
a*S per cent
COBALT STOCKS. Thomas Reinhardt
las issued complete and up-to-daJe letters
uf information on Cobalt stocks IIe
stocks covered in these letters are Nipls-
sing. La Rose. Kerr Lake. Crown Reserve
and Cobalt Central. In addition 10 these
lie has d letter on Chino Copper winch
has been 50 active in recent trading.
DIVIDEND DECIARED.-The directors
az the Mutual Trust Company OF West
chester County. have declared a quarterly
dividend OF lla per cent payable March 3"
INTERNATIONAL HARNESTER--Ihe
directors OF the International Harvester
company have declared an initial quarterly
dividend OF ! per cent GA the common
stock, payable April l..
BROOKLYN UNION GAS. There has
Fpeen some quiet buying of Brooklyn Union
Gas stock recently by interests Well in
formed regarding the property. 1t is re
lt0rfed that the company VIII sell some
valuable real estate holdings near the
Brooklyn navy ward tG the government
and that from the proceeds Of the sale
an extra dividend viii De declared
GOLD FOR CUBA.-Gold coin TO the
amount Of s54a.oo0 was shipped from New
York to Havana. Cuba. yesterday