New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-07
TOPICS OF THE STREET.

COPPER TRADE NS.-Waik-
er's copper letter says:
Copper continues moderately active. VIII
prices easy. Lake is 123sml21a cents ana
electroytic I2isdl2A cents a pound. IL ~
estimated that more than 100000 pounds
has been sold in the last two weeks, larseaS
for export. A great dea! more coulu NC
sold bv shading prices Ba3s cent, 1t haNlhS
developed that the strongest specuiative
interests are willing TO buy heavily az
around u cents a pound. The foreign oo VIZ lon
ible supply Of copper decreased 1910
than II has been previously since August,
1909 A very considerable proportion Oh tnis
foreign visible copper Is carried py SPeSSu
Iators who purchased il at much hlgher
prices and who have determined to hold H.
as the public usually holds mining stochsS.
until they are able to sell ana ger 'n r.iII
money back. This copper, therefore, VIII
not be thrown on the market at any one
price but will be liquidated on the ADVANCE
when other spectators VIII be buying.
Copper speculation could be mace a very
much larger factor and beneficial one
also II II were properly conducted ana en-,
couraged by the producers and the meta meta
exchanges. 1t Is anticipated that LIE l or.n,,
coming report OF the Copper Producers
Association will make an improved showing
as compared with those Of the preceding
three months. Should II mark a decrease
Of : 900 coo or 100000 pounds in the domes-
tic surplus IL undoubtedly would stimulate
further buying by domestic and foreign
consumers and spectators also. Exports
in April were heavier than In March.
TITLE GUARANTEE AND TRUST
The banking department Of the Title Guar
antee and Trust Company reports an IN
crease in it's gross deposits or almost 90
100000 within four months. Edward o.
Stanley, second vice president and man
ager Of the banking department expressed
the opinion yesterday that although less
active general business results generally In
increased deposits in the trust companies,
the developments in regard TO banking
conditions in some places in. New YORK
City had resulted in causing depositors 10
seek the largest and strongest companies
as custodians Of their funds and that the
scramble for higher interest rates whlch
acted against the more conservative COM
panieS for time Is not now so eager rs IL
was.
BANK CLEARINGS.-The total bank
clearings for the United States for the week
: ending Nav 6. 1911 Zone day estimated ac-
cordinE TO THE Financial CHRONICLE were
81. 400. 5O7, $50, as compared with S.I9,oi2 ~
with last year, the total bank clearlnSs
have decreased Sc per cent. New YORK
CITY shows decrease Of II per cent, Boston
OF 1879 per cent. and St Louis or 10 per
cent while Baltimore reports an Increase
Of 1853 per cent and Chicago OF 1.5 per cent.
BRADEN COPPER TO ISSUE BONDS
special meeting of stockholders OF me
for Nav u to authorize 100000 convertible
three-year per cent bonds and an IN
crease in capital stock from 100000 to
$4,000 for conversion Of bonds.
MINING NOTE.-The superintendent Of
the Great Bras dor Gold Mining Com
Cape Breton. province Of Nova Scotia, re-
ports that in new crosScut a vein has
been discovered, the assay of which runs
to s55 70 a ton.