New-York tribune., 1911-01-15
TOPICS OF THE STREET.

1OHHbN hADf. NO-NDl lJ-Ns0' W h4FN
er's copper letter says:
Copper is weaker and fractionally lower
Lake Is 1878 to l3 cents and electrolyuc Is
125s 10 l2A cents pound. The statement
Of the Copper Producers Association. COW
Cring the month of December was faVor-
able inasmuch as Il showed a further re-
ducton Of S35S,S74 pounds in the American
surplus This, together with decrease or
5.494. 720 pounds in the foreign visible supply,
made a total shrnkage during the month
of 1859 5g4 pounds in the worlds accumula-
ton The statement was construed as un-
favorable, however, II having been Gener-
ally expected that the decrease in the sur
plus supplies would be very much greater
than IL was. Exports were even larger
than ANTICIPATED. but domestic deliveries
were only 43,594olS pounds, comparing with
67.a4,l2 pounds in October. This sharp
falling off is practically uneXplainable.
That home consumption has shrunk In any
think like this ratio is incredible. 1t would
seem that December statistics must reflect
a period of delayed deliveries. If this is
the explanation. there will be very great
increase in this item shown by the statiS-
tics TO be published month hence. out
side of America the world IS consuming an
unprecedented amount of copper. Exports
are almost at the high record point, and
notwithstanding this the foreign visible
supply is steadily decreasing. | do not be-
lieve that home consumption has fallen of
materially, and / anticipate that the
shrinkage in the worlds surplus will con-
tinue uninterruptedly. The recovery from
the present period of depression. however,
is likely TO be much slower than has been
hoped heretofore. Producers and selling
agencies report a considerable increase in
the inquiry from consumers since the first
of the month, and there is now a good
prospect that January sales will be very
large.
SEABOARD AIR LINE BONDS.-The
COMMITTEES of the Seaboard Air Line Rail
way has recommended to the board Of di-
rectors that the company sell TO a Syndi-
cate, headed by Blair & Co, Ladenburg,
dorf. Williams & Co. of Baltimore, $1,000
OnO unified and refundinG 1 per cent bonds.
and that the syndicate he given an option
on an additional 100000 at the same price.
so per cent net. Directors OF the SeabOard
Air Line will hold a special meeting in New
York on Tuesday 10 pass upon the propOs-
ton The sale Of the 100000 bonds will
produce s15 200Oo0: of that amount S14.-
year collateral trust SIS and A.657o0o three
year extension collateral trust bonds.
BANK CLEARINGS. The total bank
clearngs for the United States for the
week ended January II, 1911 Zone day esti,
matedl,. according, 70 The Financial
Chronicle were $3.50, 1928, which com
week and s3s65,o43.47 for the week ended
January Is. 1910 Compared with last year
the total bank clearngs have decreased III
per cent. New YORK tlty SHOWS decrease
of 1879 per cent. Boston Of 81 per cent,
Philadelphia OF ga per cent and New Or
leans Of 2l.5 per cent while Chicago re-
ported an increase of 10 per cent, Balti-
more of IL per cent and ST. Louis OF 3.5
per cent.
MONEY HERE FOR GEORGIA CEN
TRAI, BO\DHOLDERS.-I is understood
that the Central of Georgia Railway Com
pany has paid the judgment awarded by
the Supreme Court of the State Of Georgia
recently in the suit brought by income
hondholders for the payment OF interest on
the first and second income bonds for the
wear 1907, and that the distribution will be
made TO the bondhOlders next week.
MARYLAND COAL COMPANY.-Will-
lam H. Ziegler has been elected president
of the Maryland Coal Company, 10 succeed
H b Nedham, who resigned on account
of i'll health. Mr.. Zegler was formerly
general sales agent and assistant president
OF the PENNSYLVANIA company. AfterWard
he was a member of the firm OF Barber ~
Ziegler wholesale coal merchants. retiring
some six or eight years ago.
DIVIDEND DECLARED.-The directors
of the II. b. Clafin Company have declared
the regular quarterly dividend OF IL. per
cent on the first preferred and ll2 per cent
on the second preferred, payable Febru-
ary l.
ADMITTED TO THE LIST-City Of
New York Controllers temporary receipts
for AZ per cent corporate stock, due Sep
tember / 1850 when issued, and interest
from January q. 1911, have been admitted
to the Stock Exchange list.