New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-09-29
TOPICS. CT THE STREET.

FOREIGN TRADING Foreign houses
Tolu ABOUT a@e| shares on balance IN tho
local stock market
COPPER TRADE CONDITIONS The
National Conduit and Gable Company says
I'M ITS weekly bulletin. Al the present
. ume tho c0pner situation Is attracting spe-
car interest, particularly since it Is seen
thdt as domestic stocks have decreased
| the market price Of the metal has also
declined. During the last three months
United States stocks of copper ia primary
hahds nave been reduced 32,jji ia pounds,
/ oht 'u spite of that seemingly fortunate
circumstance from the sellers point of
View. the market developed lower prices
I and a decidedly weaker tone, The stocks
OF surplus copper in this country on sep
TENDER I amounted to 133. al, JUl pounds,
compared with lbs. SS1, 245 pounds on Seprem-
her J. 1910. but strange as u seems copper
I Is Sclllng IS To y cent per pound below
the quoted prices on September !, 1910.
We nave been accustomed 10 believe
that the size OF the surplus supply hau
much 10 90 with making the price or an"
afUcIe, nut at present II is necessary To
| look further and probe deeper to md
sdJlS laCtOr\ explanation for The peculiar
| conditions noted. II Is evident that The
+ market is not moving side by side with
statistics. II that were the case copper
ought 20 be bringing higher figures. There
are, however. other important factors play
ing their part In keeping the copper mar
kCt in a depressed condition. Increased
production and the rapid expansion OF con
ceDtratiUE and smelling Capacity has proved
most severe blow TO confidence ~ copper
prices. No one who viii take the pans ID
+ investigate conditions al che leading min
ing districts can help reaching the urn
conclusion that the copper mining INDUS
try has been developed far too rapidly for
fits own best welfare The elaborate plans
for an enormous production at the chief
centres have created one of the most re-
markable periods Of depression Do the cop
/ per market on record
DIVIDENDS DECLARED. - Dividends
have been declared as follows: The seal
SHIFT oyster system regular quarterly ls4
I Ycr cent on the preferred, payable Octo-
her ~ the Allegheny Trust Company, OF
Pittsburgh regular quarterly per cent.
payable October .. the East End savings
Trust Company, OF Pittsburgh. reg ular quar-
tprlv "a, per cent. payable october - the
First National Bank. Of Pittsburgh regu-
. lar . per cent payable October ]; the Della
ware Lackawanna * Western Railroad
October %, the United states smelling and
Refining Company regular quarterly ] per
/ cent on the common and ia par cent on
the preferred. payable October Il, the Nor
fox & Western Railway regular quarterly
y per cent on the adjustment preferred
stock the Vulcan DEFINING company ia
/ per cent on the preferred payable October
/ -. and the Produce Exchange Bank per
I cent, PAYABLE october Is.
4 POSSIBLY GOLD EXPORTS TO PARIS.
Z Strength iu French exchange rates in
this market ir recent days has brought
still nearer the point az which gold could
/ Ie shipped from New York 10 Paris. Il
was reported yesterday that certain eN-
change bankers mad communicated with
/ he Bank Of France as 10 whether that lh-
stitutOu would be willing 10 allow interest
on gold ju transit, which would make pos
s.ble shipments ct the prevailing quota
I ton for francs
AMERICAN MALTING.-The American
/ Mating Company reports for the year end
ed August 81. 1911, net earnings I'm excess
OF all charges. Including interest on bonds,
LOT sos $50 This compares with S242,t5l for
/ the year ended August 81, 1910, SJ5l.3S3 for
/ the year ended August 9, 1909. and F'J2,i0t
J for The YEAR ended August g. 1905.
/ CHESAPEAKE q OHIO-At the regular
monthly meeting OF directors of the Chesa-
peake & Ohio the annual report, which
/ VIII probably be published next week, was
approved. II viii show 81 per cent earned
on tho SEQ. -gN. 900 stock. II was stated after
the meeting that the matter of leasing tho
. Carolina. CNuchHelG d Ohio did not come
up for consideration.
/ NEW INTERNATIONAL PAPER COM
. pANY DIRECTOR Benjamin Strong. ir.,
vice-president of the Bankers Trust Com
papy. has been elected a director Of the
/ International Paper Company, succeeding
I Thomas :. CooIridge, resigned. Dir. Strong
has also been elected a member Of the
/ finance committee.
T POSTED FOR TRANSFER The New
York Stock Exchange seat of J. ". W.
. Struthers has been posted for transfer 20
J. Hermann HiuniCutt
/ ADMITTED TO STOCK EXCHANGE
/. Malcolm : Mackav has been elected
member OF the New York stock Exchange.