New-York tribune., 1911-02-26
TOPICS OF THE STREET.

COPPER TRADE CONDdTIoNSy-Wall..
kers copper letter says: Copper Is qulet
cents and electrolytic is 12N to 12h cents
pound. Some sales OF small lots have been
made at the lower prices quoted but no
considerable amount of lake can be pur-
chased for less than 1923. cents or OF cleo
trolytic for less than 1917 cents. Sentiment
in the copper trade continues 10 be more
or less depressed. Many producing inter-
ests freely admit that they, see no prospect
Of a very early advance in metal prices
This belief seems 10 be shared by practical
" all consumers, many of whom believe
that there will be a break in prices before
there is an advance. AS result CONSULT :
ers are carrying no supplies beyond their
actual day to day requirements NUMBER
of them have been purchasing spot copper
for cash recently, week or tWos supply
al a time. The principal factors which are
shaping the general copper situation are
the existing surplus, the prospects or larger
supplies from the four or five new producers
whose plants will go into commisslon TINS
year, the heavy curtailment OF new con-
struction by railroad and industrial cor
porations, due chiefly to political and mag
azine undertaking. which has cut on
considerable amount or consumptlFe de
mand, and the prevailing lack Of confidence
and the pessmism In the business world
The curtailment of production by seVeral
leading producing interests is practlcally
sure to continue as long as 1t Is necessary
Leading interests in the trade are conn-
dent that copper consumption would be IN
noWise encouraged by further reduction
in prices. The general business outlook In
this country is very much more encourag-
ing now than Ii has been at any previous
time ior more than year. Railroad and
Industrial bonds are finding market, and
this m cans a renewal of large operations
soon along constructive lines.
BANK CLEARINGS. -- The total bank
clearings for the United states for the
week ended February %. 1911 zone day esti-
mated), according to THE Financial Chron-
% Iii MARI
with $2,SS4, ,O66,6l7 a week ago and s2,7j5.-
SIG i67 for the week ended February 20,
1910. Compared with last year. the total
bank clearings have decreased 36 per cent;
New York City reports a decrease of 2.S
per cent, Boston of S.4 per cent and Chi
cago Of II per cent while Baltimore shows
an increase Of 81 per cent and 81. Louis
SO per cent.
.ATCHIsON's EARNINGs.Z,.The earnings
Of the Atchison. Topeka & Santa Fe for
the month of January showed a gain in net
earnings of $55S ,SS6, against somewhat
smaller gain in gross, comparison being
made with the same time last year
SOUTHERN RAILWAYS EARNINGS
The Southern Railway reports an Increase
IN gross earnings In the month OF January
Of 1888. .22l and an increase I'm net earnings
Of $s2.lS9. comparison being made with the
same time last year
COPPER OUTPUTS-The output of cop
per for January OF the Navada- Utah Com
pany was 5.26S. .954 pounds and of the Utah
Consolidated Company 6,707,116 pounds.
DIVIDEND DECLARED.-Th directors
of the American Piano Company have de-
clared the usual quarterly dividend of IL,
per cent on the preferred stock, payable
April l.
NEW OFFICER OF BANKERS BODY
William II. Kniffin, jr., cashier of the Home
Savings Bank. Brooklyn, has been appointed
secretary of the Savings Bank Section of
the American Bankers Association, effect
i've March /.