The Spokane press. [volume] (Spokane, Wash.) 1902-1939, 1910-01-09

NEW YORK, Jan8.-The bank
statement of actual conditions in
dicating an increase in surplus re-
serve of $11,000,000 will perhaps
have the effect of causing easier
call money rates next week. There
was considerable short covering
during tOday's session, particularly
in Steel, which impaired an appear
ance of strength to the general list,
although Northern Pacific was ir-
regular under pressure.
The contents of the presidents
special message was the chief topic
of discussion and opinions are ap-
parently mixed as to the probable
results should the proposed recon-
mendations be effected and this
diversity of opinion has resulted In
irregular trading operations.
The copper metal issues during
the past few sessions have been ac-
cumulated in anticipation OF an
early announcement with regard to
the progress of the proposed con-
solidation and it is said that con-
sumption of the red metal is fully
up to the prediction in view of the
curtailment of the latter by virtue
of the difficulties in the Northwest
BOSTON COPPER.
BOSTON, Jan. 8.-The copper
market today was comparatively
quiet, the heavy liquidation of yes
terday seemed to be over and the
majority of stocks showed rally
ing tendency. Local traders
bought North Butte and found very
little stock on the way up. 3D.
Giroux and Superior and Pitts
burg clesd slightly stronger,
crossing II and 16, respectively.
If the copper producers report. to
be issued Tuesday. is at all favor
able, we will see considerably
higher prices all through the list
next week.
NEW YORK, Jan. $40 pro-
vide additional working capital for
proper development of its proper
ty, the New Keystone Copper COM
pany will issue 100000 shares of
the 100000 authorized at five dol
lars per share. The amount now
outstanding is 100000 shares.
Stockholders of record January
"a may subscribe to one share for
every three shares now held. Books
close January "a; reopen Janu-
airy q.
NEW YORK, Jan. S.-Drectors
of the North Butte Copper COM
pany, at their meeting in Febru-
airy will lreduce the dividend from
81 to so cents share quarterly.
The reduction will be due to the
well-known fact that at a lower
level Of the mine ore of a poorer
grade has been encountered, which
has materially reduced the COM
pany's earning power.
NEW YORK BANK STATEMENT
NEW YORK, Jan. S-Clearing
houuse banks average cash reserve
25.03; reserve decrease, $422,875;
less U. S. decrease, $1.424. 200;
loans increase. $685., 900: specie
decrease, 1888, 400; legals increase,
$1.401.700; circulation decrease.
$S5 800.
Actual cash reserve, 1927; re-
serve increase, $11 .060,125; less u.
s. increase. $11,076,975; loans de-
crease. $14.120,SO0: specie increase.
$8.797,000; legals increase, $1.643,-
200; deposits decrease. STATS. 900;
circulation decrease, $275,20O.
Other banks loan decrease. $19.-
644.600; specie increase. 1880, roo;
legals increase, S603,600.
Total deposits decrease. $4,719.-
400; eliminating, etc. decrease.
$7.l75.100; aggregate reserve on de-
posits decrease, $1.151,700; percen-
tage OF legal reserve. 1890 per cent
MARKET SUMMARY
NEW YORK, Jan. S.--While the
market has the appearance of being
slightly less professional. it cannot
be denied that some of the large
IN dave ora Gill tho ch;af factDrc