New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-30

With the convention at Baltimore in a
deadlock and the New York and Boston
Curb brokers crossing bats in their annual
baseball contest. 1t is not strange that the
weather man decided it was time for hot
weather. Play BALI
United States Steel Benefited.
With the latest heralded increase in bars.
plates and structural steel Of 81 ton, the
average price Of eight leading steel COM
r1odities has increased 50 80 a ton from the
extreme low price Of last year. Including
IN the average all steel products, the aver
age price from the low of last year has in
creased between 81 % and S. a ton. II is
ruynored that by careful investigation by
steel experts that, based on the United
States Steel Corporations present output.
net earnings have been benefited TO the ex-
tent Of approximately $50,0o0,000 annually
nv the increase from last years price Of all
products manufactured by It,
Value Of Silver.
The big exporting corporations have, IT Is
said. 10 watch the price Of silver much
more closely than the movement Of gold.
This is owing to the fact that silver
&c little better than the various goods in
the greater part Of the Western world,
largely due to the commercial and finan-
c,al relations which we have with the Far
Fast Take. for instance the Southern cot
ron exporter, the shippers Of petroleum and
ell the other people who have dealings with
China and the Far East, do not let a day
slim by without they know the price and
worth Of silver. 1t is further said that
since the recent advance of about cents
an ounce Of silver from the beginning OF
the present year the Standard Oil people
the southern cloth exporter and the sewing
MACHINE industry are more interested IN
,hA worth Of silver than anybody else.
All in Operation.
7, &c reported that all the plants Of tho
American Smelling and Refining Company
4, Mexico are in operation. Although some
of them are not running at full capacity
I, Is believed that within certain NUMBER
80 days these will be resuming their natu-
vol Qualifications The Mexican properties
~ the American Smelling and REFINING
Companv have been making very good
showing thus far this year, in spite OF the
<oct that operations have been more or less
60, hack by the present disturbed condi-
+ions existing in that part Of the country
7, is believed that the position Of the Smelt-
,rg cornpanv is better now than II has been
Cor several years past, and, barring unfore-
seen and unlikely calamity, the future looks
very bright.
Another Cut of.
There is a rumor on foot that cut-oIi
similar 10 that Of the Delaware Lacha'
wanna & Western, will shortly be pul!t y
the Union Pacific this year, ACCORDING u
the vice president and general manager u
The road. This cutoff will take place De-
tween Denver and Fort Morgan Colorduo'
and IL is estimated that the distance De-
tween Denver and the East will be shor I
ened by twenty-five miles. Ihese cut-o'i
orrareerAnts seem 10 be growing in vogue
rateIv and II is said that every railroad
adopting this plan has been benehted'
Financial Report.
Tho following Is taken from the fnanciai
..aterents issued by the Canadian govern
/ -, q, Ottawa for the fiscal year enoeo
! en- March g.: The net debt was So''o'-' ."'
dAcrease of sl59. 255 from the previous MS
cal year. total revenue sl36,l30,S51; expenol-
,urA on account Of consolidated funo' NO.
1as zoe; expenditure on capital account VS.
eai .7as. including ST for railways ana
canals.
A statement showing financial condiuon
IN Nav 81 was also issued, showing tolai
gross debt, s4Se,143,l5s; total assets, slo''-
o7o.3g7: total net debt 1922, 7eS. decrease
since March 81 Of S7SlOo26.
Good Western Business.
Marshall Field & Co. in their review Of
.ha week. IN merchandise. give the follow
! Ing:
Movement Of merchandise during the iass
ueek indicates that warmer WeatheI mas
e,raat,y stirnuiated sales in retail stores
! SSnns,inoers are now making purchases tne!
usually make much carrier. AZ .Sair
more buyers are in town to rep!ehisn .i Ell
stock and more mail orders nave oeen re- re-
future delivery are also. ahead; laree pa rS
of the business comes from the Nesf a.; az. :
Soutbwest where excellent crop conoiIii0,ns
are reported, especially in Kansas oKia-
N? Travellers from washington and Id an
and other Far Western states report tna'
S Srnit and grain will be plentiful. Excel
isnt renorts come also from the ,DaKotas,
Minnesota and Iowa. Confidence IN iuIu ae
conditions is indicated Sy i Iroueermchandse
for fall delivery. Lace curtains ana q. apI a.
ttobrtcs narticulariy show a gratifying IN
crease. -,
Considering the steel situation and nS
numerous reports of betterment' Inc
Financial World" has the following;
Inportant New York banking lnterestSS
No. Were in a somewhat skeptcaI mn
,ateIv determined 10 find out for thein =
Selves whether the preliminary sisns "a a
boom in the steel market were IeaI a.
cordlncly, they last week sent trus.edd ~
resenta lives to the Pittsourgh ana in9
YOUNGSTOWN, Ohio, steel districts 10 De, n
vestigate. These representatives nave Ju1 "a
returned, and they say the eNloenI, -
overwhelming that the predlcuons % va
Sroad movement In the steel INDUSTRY nay
soiId Foundation. The evidence OF tIe
rreparations for big output OF steeI ~,
rout an was found in the feverlsh aGL's'ty
81 the manufacturers 10 complete Dig az
Gitions TO the mills, the calling oacK 20 en- en-
,iovrnant of all available LABOR, sklI!eo am
innckiiled and the haste or steer ouyeFSy r., ~ =
esf IL, specifcations on new business. nc
go Cornoration IL is said, has oegun the
Suran6it,ire Of SO, 900 900 for new mill capac
nv in the Pittsburgh district, ana tne Jones S,,
&Iaughlin and Republic iron q steer t tSa -
nsny are working at capacity i'll SCI Imam
at any time this year
IDLE CARS STILL DECRtAoiNa'
The net surplus Of idle freight cars on the
,,o,,. ~ the United States and Canada