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

DIVIDENDS DECLARED. - Dividends
have been declared as follows: Standard
Underground Cable Company regular quar-
terly 3 per cent. an extra dividend OF 3
Der cent and special dividend OF 5 per
cent. all payable January II. The Gary &
Interurban Railway Company usual quar-
terly per cent, payable January 10. Fort
Smith Light & Traction Company, Of Fort
Smith. Ark. quarterly lG per cent on the
preferred, payable January l5. San Diego
Consolidated Gas a Electric Company quar-
terly IL per cent on the preferred, pay
abIe January Is. Northern States Power
Company quarterly IL per cent on the pre-
ferred stock, payable January H. Oklahoma
Gas q Electric Company quarterly IN
per cent on the preferred stock payable
January Is The Ottumwa Railway Light
COMPANY quarterly ia per cent on the prs
ferred. payable January Is. The Wheeling
Mold & Foundry Company quarterly per
cent. the last dividend was per cent PAID
In January 1908. The Turner Tanning Ma
chinery Company semi-annual 3i3 per cent
payable January %.
RATION.-Edwin Hawley has been elected
a cs-president OF the International Bank-
ing Corporation and II. I. s. Green mas
been made general manager OF the same
company.
To REPRESENT NEW YORK BANK
ERs IN CHINA-Ths American group DO
ing business in China, composed OF j. p.
Morgan & Co., Messrs. Kuhn, Loeb & CO.,
National City Bank, and First National
Bank. have appointed the lnternatlonal
tive In Hong Kong. Canton. Shanghai ano
Hankow. This Is in addition 70 feklng,
where they have been represented TOT some
time by the corporation.
NEW YORK TRANSPORTATION COM
PANY REPORT.-The New York Trans
/ portsfion Company reports for the year
ended June 30 last operating revenue oi
$500 325, against 1859 4l3 in the precediinoas ioa
| year and q surplus after charges OF S-s'IoS
compared with 90 in 1893.
GOLD COIN FROM CUBA--French gold
coin valued at about 100000 was received
| by two New York banks from Cuba dur
| ing the week The gold was deposited 1T
/ the New York Assay office, and payments
therefor duly passed through the SUP
| Treasury operation already recorded IN th'
/ currency movement OF the week.
! BANK CLEARINGS. - The total bank
/ clearlngs for the United States for the
week ended December 81. 1919 zone daS
estimated). according 10 The Flnancia
pares with s.05l l6S5,l6s last week. and -.
l45,1s6.e6O for the week ended December 81
1893.
COPPER TRADE CONDITIONs.-Walk
ers copper letter will say:
Copper continues very dull. with prices
| unchanged. Lake is l3 cents and electro
lytic l2i. cents a pound. Sales or small lou
| OF the latter at l26s cents have been report
ed recently. \ break in metal prices a
| present is practically impossible ProdGc
ers have sold all their surplus accuiluia q. a
ton they desire 70, and many OF them nav
disposed OF their output as far aheau d
/ the end OF January. There Is no one .
offer prices down. and II Is pracucally Ger
| tain that consumers VIII come INTO tr
| market and buy heavily within the mex
/ week or two The world q copper surplus
now aggregating over So,00OvD pounds, u ]
believed TO be made up OF about lsO'0q,UJ
| pounds held by SPECTATORS, chleily ioI eIs =
| 60 COO 900 pounds in various lots heiu sPSCu
latively BY small producers. metal desIeI'
brokers and individuals and the renlhlIlIn
100000 pounds represents the CUpp,r
which accumulates at smelters IN the l'ah
Superior district and reinerles eseWner'
on docks and az other shipping poInI,,
awaiting boats or cars. Ihls last lvV'uv'v-
mounds OF the worlds surplus VIII ,neVe
diesnDear IL IS the amount Wnicn VI
avoidably accumulates at one point an1 s6d Sd
other in the process OF turnover TOT i'Hvv
OoHNO0 pounds OF copper, the present ahnue
production. cannot all be kept IN cohs[S a.
motion until IL reaches the consumers pi
thing that is unfortunate about the statl'
lies as now published is that tney colI
exclusively from the producers. IT lue vi
sumers were also furnishing tleIr nc 81
( the whole situation would appear III, III
| much more cheerful light. The producun
INTERESTS report deliveries. ana il Is eas
for the pessimistically inclined 70 dssurl
/ that portion Of this copper goes mo VIZ va
horsae where IL is hidden away 70 creal
| a fictitious statistical situation. As ma ma
20 81 fact actual consumption this yes
has Considerably exceeded the deliveries, i,
i've nroducers. for II has absorbed In 900
tion the tens Of millions OF pounds OF o
! coT,nr which has found its way 10 marx
| fll-, ,-arious sources Producers as n ~
have been selling freely throughout u
period ot depression. Practically all =
| tbar, ara now sold out up 20 date an
,. -.ien, La,-e dis,osed Of their January ou
nit r,,n''' II consumption only slightly excee,
pp-uo,5,,ction therefore. the holdings OF u
spec,IIators will come 10 be in dem,ani
ANY Improvement in the staustics, pUSrsit .nr.
~ The metal will encourage speculaloIs
%old on 10 their copper and thus, create
condition which will force an ADVANCE
I