New-York tribune., 1911-10-21
TOPICS OF THE STREET.

FOREIGN TRADlNG.--lI dHsd IloiS
foreign account in the local stock market
aggregated $1,000 shares, sales ana pur-
chases being about evenly divided.
DIVIDENDS DECLARED - Dividends
have been declared as follows portland
Gas and Coke Company regular quarterly
3, per cent on the preferred, payable NO
yember l. The United states Motor Com
pany regular quarterly / q per cent on the
preferred payable November 10. The BOND
and Mortgage Guarantee Company reSu-
lar quarterly per cent, payable NoNem-
ber 10. Tine Pullman Company regular
quarterly per cent payable November 10.
The Trenton POtteries Company regular
quarterly per cent on the non-cumulatlVe
preferred and per cent on the cumulative
preferred, payable october 20
BANKS LOSE CASH-The reported
movements of currency this week indicates
a loss i'm cash held by the banks of little
over 1,OO0. 900. only a loss through tne
Sub-Treasury counteracting favorab bic
movement i'm from the interior. The banks
received from the interior 1853, 600, and
sbipped into the interior S9.S15, 900, includ-
ing S2155.0 .00O national bank notes sent 10
Washington for redemption. The gain from
the interior was S1,SlS,OOO. Receipts ot new
gold were S3.9O4 O0O: on New York Assay
office checks S1.15S. 900, on San Francisco
Mint checks S1,S21, 600 and on Seattle once
checks $4,000 Ordinary disbursements by
the Sub-Treasury were Sl6,999,OOO. Pay
ments by the banks 10 the Sub-Treasury
redemption fund. etc, amounted 10 S23,-
1900, showing a loss on SuD-Ireasury
operations proper of $6,3OS. 600 The total
gain from the interior and by new gold
amounted 10 S4,9l2.0O0. Deducting this
from the loss on the Sub-Treasury opera
tions proper, the net loss By the banks was
1896. 0O0
NEW EXCHANGE MEMBERS-Ed-
mund Rosenberg, George l.. Nrenn. c. b.
Mears and Edwin B. Chapman have been
elected to membership i'm the New York
Cotton Exchange. Leopold Spier has been
elected a member Of the Consolidated Stock
Exchange.
VIRGINIA & SOUTHWESTERN EQUIP
MENT TRUST. Potter, Choate & Prentice
have purchased from the Virginia x South
western Railway Company 100000 AZ per
cent equipment trust certlhcateS' TO De
dated November !, 1911. and mature IN
twenty semi-annual nstalments. beginning
May1. 1872 The certificates Will be secured
bv a first lien on locomotives and cars, FOR
the purchase Of which this equipment trust
was created. \ large part of this issue has
been sold on ~ per cent basis
BATOPILAS MINING. - The Batopilas
Mining Company reports FOR the year ended
December 81, 1910 a net delcit OF HlOo'2),,
United States currency after deductlng all
expenscs, interest and taxes. In 1909 there
was a surplus of $52,1S2
COPPER TRADE CONDITIONS.-ln its
monthly copper circular the National Con-
duit and cable company say :. DOilcSt tlN
manufacturers are using up talr amount
Of copper month by month. but with the
large rate of copper production there mas
been no chance recently for the market 10
develop any substantial Improvement COM
pared with its state a month ago. Iheie
has however, been considerable buying FOR
local and foreign account during the last
thirty DAYS but il was found necessary "a
make concessions in price 10 stimulate
sales. Transactions lately have been on
the basis OF l2i4dl2Ss for eleCtrOlytc wire
bars but with freer offerings by sellers new
business might be possible little below the
above quotations. The best brands OF lake
ton of copper continues TO command the
closest attention of the trade i'm this coun-
trv and EurODe. No one can contemplate
the activity at the great mining centres and
at the various refining plants without
reaching the conclusion that no possible
consumption i'm sight to-day can by any
stretch of the imagination justify the reck-
less policy of overproduction now in force.
VULCAN DETINNING.-John II. Prall
of Webb & Prall, has been elected di-
rector Of the Vulcan DEFINING Company, In
place OF the late Isaac StiebeL
APPLICATION TO LIST.-Applicauon
has been made 10 the Stock Exchange 10
list S25UOO01 per cent first mortgage con-
vertible bonds Of the Chino Copper Com
pany: 100000 additional first and refund
ing mortgage per cent bonds OF the Dem
YER q Rio Grande Railroad, and S6, 1890
common stock Of the Westinghouse Electric
and Manufacturing Company IN substltu-
tion for a like amount Of asscnting stock
EXPORTS OF COPPER Exports OF
copper for the week ended October ~ were
colo tons, making from october l total eN-
ports of II. .f63 tons. compared with l5,61-
tons In the same time last year