New-York tribune., 1911-01-29
TOPICS OF THE STREET.

COPPER TRADE CONDlllO-N"'
er's Copper Letter says T.. coma
conner is quiet and the tone is Some
what weaker. Lake Is l234 cents anu ere
trolvtc 1917 cents a pound ii IS i do1 COO
that at least 100000 ana posslolE ~ w. co.
pounds Of copper have beeh solu 90 iii
this month al p[tSes to as IoI as i for eec
trolytic Producers say that cohsut,n'ei ,
were buying quite freely until the ashlms sSnts
price for electroytic was reduceu oi,. LIoti
i9s. IN 12I5 cents recently by the largest
selling agency The trade considered tllls
n confession of weakness, ana tnS uuS @ ms
demand has suffered as a result lherS fiah al
several factors IN the sltuatlUUn ., m'.ter' ten
taken together, explain the declining Ten
deucv OF metal prices in the race OF
steadily improving statistical position One
is the falling markets In nearly an ,''nor SUaci
moCities; another the customary ni.Iio
sition of manufacturers 10 buy ahytHlnS
in quantity when there Is the least sus-
piclon that artificial methods, Ike the cur
tailment of production, are being usSu "
maintain prices. In addition, HaHlPuIrtafio In
snect lative interests, who are supposeu 10
be short of both the metal market anu
mining shares. They are clrculallHs , w
messing reports and resorlng 70 SNslS
means POSSIBLE 10 disCredit the ofhcial sta
tistIcs. or course, this is having more OF
less influence on consumers. causing tleI'
10 carry unusually small supplies anu 10
buy more cash and less future oei'C ,,or,
tiopIer' ,.dr,, beoyv The demand I'm this
country is good, and the foreign Ha'het
is taking an unprecedented amount or COP
per. all OF which Is gong into onnadi,c cOs%Iilrp
n, an unDracedented pace the World over.
This is proved by the monthly statemShts
~ The big electrical companies Whlch snow
they did larger business iaSe ger Sit Sir
nation improves sufficiently to make pos
sibIc the financing OF new electrical enter.
urises on a favorable basis thereI or, j..
ie nroboble that there will be furtner
increase In copper coisu""P-
tion.
RANK CLEARINGS.-The total bank
clearings for the United States for the
weel, ended January q. 1911 cone DAY estl-
mated). according 10 THE Financial Chron-
ioia :" we've s.. .23S, ,S53.574, which compares
with s3377.lS79 in the preceding Week
and sS.7l5.2i9S70 for the week ended Jan
nary 81 1910 Compared with last year, me
total bank clearngs have decreased l-.S
ner cent. New York City reports a de-
praose pea of qlS per cent. Boston 1873 per cent
ond Chicago 8 per cent, while st. Louis
shows an increase Of 1l.9 per cent and Bal
timore 1874 per cent.
CHICAGO RAILWAYS BONDS OF
FERED-Harris, Forbes 90. ana ,aI', tne
National City Bank have purchased from
the Chicago Railways Company ana are
offering to the public A5,OOoon hrst mort NOR.
ca2e per cent bonds. due FEBRUARY W.
The IniCaEO hdllNd9N D'iAis''F
rcntiv purchased and taken over l2S miles
~ track formerly owned by the Chicago
Consolidated Traction Company Win ms
ACQUISITION OF new mileage, the company, AT
Tresent onerates AS miles Of track serving
Without competition the entire north ana
west sides OF the city. IN addition 10 the
downtown business section.
DIVIDENDS DECLARED. Dividends
have been declared as follows: The Ham
burg American Steamship Company, an
nuai per cent. an increase OF ? per cent
over the year before; the Computing Scale
COMPANY of America. regular annual . per
cent Dlyable In quarterly instalments or
~ per cent the first on February l; the
Cuban-American Sugar Company, regular
quarterly ia pes cent on the preferred
navable April l. and the national railways
OF Mexico. regular seml-annual per cent
ON the INST preferred. payable February 10
FEDERAL MINING AND SMELTlNG.,
Ne, earnings OF the Federal Mining and
Smelling Company for December, which Is
iha first moNth Of tho second quarter OF