New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-06
TOPICS OF THE STREET.

-opu1cy TRADING.-Foreignh houses
were not active in the local st tsras about
dealing in upward of l3,ooo i SIC and pur-
evenly divided between sales anu
chases. cnencer
An ECONOMIC MISTAKE...Spesan.Iivnl
Trask &, Co. In their August ou ae,erv
say: "Is is becoming more ev ntstake was
day that serious economic HiIs nosrer-
,,s'do in forcing a semblance or proSp.ic
itv ON the country so soon afteI w iiee,pation
of 1897 when the a Heoy 10 right itself
through the natural and gradual recup ne
tive power of the nation ,hS,.,a1 that
tried TO cheat ourselves into pebe'Ihe -
all we wanted was more business 10 for
more rest and so we soon started 10 t Is
get the one lesson the panic snouio Tbere
impressed upon us-namely, caution, make
are drugs sufficiently powerrui 70 HresI
us temporarily forget PAIN. out he
trouble is not eliminated ana riSet ia
cured bv such methods The MAJ NC
now suffering from the effects or tHis III" .t,e
taken treatment. and in our Juos ocecs
whole country must go thfousd,,i opa IAN
of quieting down before condltloHs r.
really be thoroughly healthy again. ~
will be asked how long II VIII tahe ioi a. :,
Improvement to set In. Jhls que as en much
depends upon the attitude of widely SEP
arated parts of the country. tto"eE,eI' a. a.
We read the signs, the EaS sn the the process
of liquidation, and the West seems ~ g.
Thoroughly alive to the necessity H. ~
greater conservatism rms also IS - Coo
cided stem in the right direction, Tor sPee,
Iatire activities bevond the Mississippi
rave been on an enormous scale anu 10
pushed all forms of business ana soSIa
fife to an entirely unhealthy extent Now .
that this Is being recognized anu ~
steps are being taken TO remedy the Sfi, gu,
it is our judgment that the FORCES " de
have been so constantly az WORK IN oe
pressing the security markets, anu Peii
tfcularly the bond market nave Isns ~,
spent themselves. and that from no" or
thev will exert less and less positive III
fuence.
BANKS GAIN CASB.-The reported
movements of currency TINS Week no ny sIs
a gain in cash held by the banks OF VA,
$4,000. more than half of which came
from the interior. The banks re Hcf,lN,ed
from the interior 5 l30:Voo anu SnIp 70
$4,000 national bank notes sent 10 49, 80,
fngton for redemption. Receipts OF new
gold were s5.e09, 0OO-namely, on New
York Assay ONCE checks. s4,379,OoO, or
which So, $50, 900 represented gold bars i'm
ported from England and s630,OoV M eHa
s1.o5l 900. and on Seattle ASSAY Of hfs
checks, s4760OO. Ordinary disbursemeannIas
by the Sub-Treasury were sZo'Z3o,VoU-
Payments by the banks to the SuD-Ireas
ury for customs, internal revenue, . per
cent redemption funds, etc, a1nounIed 70
SIS. 100000, showing gain on SUB I'D -,
total gain from all sources therefore "N'
14,5S5,00O
THE COPPER MARKET.-As a result
of the heavy sales OF copper IN tLe hloIcn
producers look for heavy movement Oh
the metal in August. They predlct III,
creased exports. as vel as la iIsd a9 3be re-
suit will be a heavy shrinkage IN StochS
on hand. Naturally the July report: 10 DC
published on August 10. VIII show lu aInt,t
buying movement did not Inquire hed'i III ~
last months deliveries Most Of the ousi-
ness in copper IS being done on a pdsIS
of 129sc a pound. although some sales are
reported as high as 1224c. Many consuI III
ers have been induced 10 buy copper Oh
predictions made by producers that tn ~
metal will be advanced before the close OF
the current month Copper exports To- III
week ended August were 1.3If TONS dI l
compared with 5.3I7 for the same perlod
last year.
DECREASE IN JULY -BUILDiNGIRe+,
ports to Bradstreet's from Sxty-el e.af
building expenditure of s47.a24. o65 in July
as against 500, 343.6O0 III June ana soL,
s27; so in July last year In, Iner e. - 6eg
cent and from July year ago or - pr
cent. Much of the responsibility for the
heavy decrease rests with New 1ofk III IL
which shows a total expenditure OF oniS
.13 ~ 500 In July. as against $1,000, 500 in
June and SIS. 733, $40 in July last year Inc ne
s13, 10000 of the net decrease Of $l$,"Y,ep
in all expenditures as compared with July
last year OF the sixty-eight cities report
ing, thirty3sx sho" lnGrG Iniy 1a a5i
MINING DIVIDENDS. - In the first
seven months of the present year IL
American mines and metallurgical WoTks,
according to figures compiled by Ihe
Mining World" participated in dividend
disbursements totalling s45.01r $50, as com
pared with distribution IN the same
neriod In 1909 OF S3S, AS, 1913 by ntnety-1our
rompanies In addition nine security nold-
ing corporations which are heaSlIy IN
terested in operating mining companies
paid IS o79 719 as compared with the "
61O 2q1 paid by eight corporations III tle
same period in 1909
GRAIN MISUNDERSTANDING reports
the export of grain for the week VIII
comparisons, figures in bushelS, as ioIlo" :.
Wheat including -four. 1,ZI0, $50 against
e46 743 last week and 1,5S4.05S in this week
last year: from July l. 6S0374S. contrasted
with I, 92S 2S9 in the corresponding peTlOd OF
1909 Corn, 419,154. compared with 3l9.sS!
last week and 5T,5T this week last year
from July /, 1,I17,625, against 5ss,lof IN the
same period last year.
DIVIDENDS DECLARED = DIVIDENDS
have been declared as follows: The Miles,
Bernent- Pond Company, regular quarterly
the latter payable August 10 and the com
mon September 20. and the Pratt & W nit
ney Company, regular quarterly 112 per
cent on the preferred, payable August 10
INCOME ON LEADING STOCKS.
Frank Howell No. "a New street. has just
issued an Interesting stock market letter
showing the present net income or ten lead
ing railroad and ten industrial and miscel-
ianeous stocks. which Will be sent free 70
any one upon request
ELECTED TO COTTON EXCHANGE
Buford NJ. White, of Memphis. has been
elected TO membership on the Cotton Ex-
change.