New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-05-01
TOPICS OF THE STREET.

COPPER TRADE CONDITIONS.-Wal
er's copper letter" says: copper is weak
er, and the feeling in metal circles Is any
thing but cheerful. Lake is Is to 1874 cents
and electrOlytic is lbs 10 ia cents a
pound. The recent sale of considerable
lot of copper at Is cents by Calumet and
Hecla had a bad effect sentimentally on
trade conditions. Consumers are buying
very sparingly. The situation in the mar
ket for lake copper is not especlaIIy oad,
as practically all the companies producing
this grade are well sold out, some OF them
far ahead as July l. Practically all or
the worlds surplus is electrOlyttC- 1t Is
quite possible therefore, that the difference
in the prices of these two grades may soon
be greater than it is now. American cleo
livered in Europe cheaper than it can be
bought in this country. The outlook for
the metal market is not as hopeful as 1t
has been. further decline IN prices Is
more than a possibility. At Il cents a
pound the leading European speculative
interests will probably be heavy buyers
cents for any considerable time. few of
the high cost producers may be expected
to curtail heavily or cease operations alto
gether. The consumption of copper is al
ready large. and it would be greater Were
it not for governmental antagonism OF cor
porations. which has destroyed the bond
practically put an end to new construction,
industrial progress and expansion"
LONDON STOCK EXCHANGE HOLI-
DAY-The London Stock Exchange will be
change holiday only, and does not affect
other exchanges. May 1 and November
are the two days of the year when the
Bank of England closes its transfer books
The Stock Exchange. therefore. established
the custom OF taking & holiday on those
days more than a century ago, when all its
business was in securities registered at
the Bank of England. These form very
small percentage of the business now, but
the custom has survived.
MOVEMENT OF COTTON.-The total
cotton fn61Ca
1.-The Financial Chronicle are as follows:
For the week ended April % the total re-
ceipts were g., 1913 bales. against ,S29 bales
the preceding week. making the total re-
ceipts since September 1. 1909, 6.722.S70 bales.
against 3.113 bales for the same period
of 19GS-'09. showing a decrease since Sep
ternber l. 1909 of 3s0.743 bales. Reports
from the South indicate that dry weather
has prevailed over the greater part of the
has fallen the precipitation has been very
light as a rule A cold wave occurred on
the oath and 18th. with killing frost report
ed in various sections. rendering necessary
the close of the week the weather turned
warmer.
A MARKET OPINION.-Leavitt & Grant,
of the Consolidated Exchange. in their
market letter say: after such bearish Op-
erations coupled with the liquidation
caused by the calling of loans and margins,
as we have seen for the last ten days. We
expect q elimination of the decline in the
coming week
ATLANTIC. GULF & WEST INDIES
The income account of the subsidiary COM
panies of the Atlantic. Gulf & West Indies
Steamship Lines for February shows gross
revenue of 81, SCORES. net earnings of $24S,-
254 and surplus after interest, etc, $40 2S2-
KANSAS CITY, MEXICO & ORIENT