New-York tribune., 1910-10-23
TOPICS OF THE STREET.

COPPER TRADE CONDITIONS.-Wai ak
er's copper letter vii say; y;,l CUpp s,lIs and
eiectrolytic 127s to i3 cents a pound IL rs
estimated that sales have been heayieI
IN nlyoisV the ,s gh this wear. The foreign buying
has been very strong, and many doIneseLc lser
consumers are making engagements SoSei
ing their requirements through s1sn3es o0s1G3es as as
a rule, have sold all the copper tney haSe
on hand and the greater portion or tns
existing worlds surplus supply IS now nsId
bv dealers and speculative interests The
monthly statements of the Copper Produc-
ers' Association during the remainder OF
this year are practically sure 20 snoS S
further heavy decreases in the surplus, ana
the foreign visible supply also VIII rapIoy
be absorbed by consumers Tnere is Hkey
as a cent a pound, in the price or the metaI
in the near future Such rise IN pricSS
will cause the curtailment pohcy 10 Ds
abandoned. but full volume OF output
from the older mines, together with the
coming increase when Miami, Ray con-
solidated and Chino reach the produclns
stage, will probably prevent an advance
much above IA cents next year. IL copper
consumption continues to grow as IL mas
for the last two years however, , n aileCi aTl
pected in 1872 By that time consump-
ton promises 70 again exceed production,
as II did in 1906 and 1907. when the price
advanced to 26 cents a pound.
NOVEMBER DISBURSEMENTS -Divi-
dend and interest payments due IN NO
vember can be estimated at Sl24OO,Ooo, as
compared with su5.000,0 600 for the CORE
spending period in 1893 and s90o0o.00o in
1908 Dividend disbursements will aggregate
s38661 900, against S2e, 2Is,ooo Tor last year
reach $50 4S5, coo, which compares with So
$4,000 for last year and s6S,sl7,oeo for 1893
In the first eleven months OF the present
terest and dividend disbursements the
grand total of 81, ,473, 100000 as compared
with s1,3O7, ,5S1. 900 for the same period last
year.
BANK CLEARINGs.-The total bank
clearings for the United States for the
week ended October p, 1910 zone day estlI
mate} acc9eqng %eqs e which com
pares with s.. So. $685. 800 the preceding week
and S. 653 Os2. AIS for the week ended Octo-
Der o. 1903. Compared with last year, the
total bank clearfngs have decreased SO per
cent New York City reports decrease Of
IL per cent, while Boston, Philadelphia
and Baltimore report increases Of SO per
cent, Al per cent and 191 per cent, re-
spectively.
GENERAL MOTORS COMPANY.-James
N Wallace, president of the Central Trust
Company; Frederick Strauss. Of ]. & W.
Seligman & Co: James j. Starrows of Lee,
Higginson & Co.; Anthony n. Brady and
W. G. Durant, vice-preSident and general
manager of the General Motors Company
have been selected as voting trustees of the
last named concern and will control its
destinies for the next five years in accord
ance with the terms of the recently ar
ranged S15,OOo,0oo per cent first lien note
issue.
DIVIDENDS DECLARED.-Th Atlantic
Terra Gotta Company has declared a divi-
dend Of per cent on the preferred stock,
other than Glass A and Class B. payable
November 1; the Washington Gas Light
Company. quarterly 81 20. payable Novem-
Der I, and the Pacific Power and Light
Company. initial 1A per cent on the pre-
ferred, payable November l.
COTTON EXCHANGE SEAT SOLD
The Cotton Exchange membership of the
pStatn II Latham fol
W. L. Johnson for s14.5OO. The last pre-
ceding sale was at s14000-