New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-01
BRIEF NOTES OF FINANCE
paragraphs of Current Interest
for the Investor.


..,,e. u is steel. sometimes copper.
eateos ar some other Richmond in
tne ~t,.t hui now all eyes are turned
the ,n saturday there was a dis
10 ..ontment to the twist given TO the
tine. - reading, and the ''know-lt-alls"
s.S "Just wait. this upward move VIII be
.a,% by drop so sudden 1t VIII scare
i0"V The drop didn't come Monday or
you and now there is talk about
ISss So ability TO pay higher dividends,
hc.u ,ape readers and chart followers
gnu lining out the trend Of the market on
VIZ action. Reading has liberal
he"I r,hich allows It 10 hold the securi-
Gu" roi,road. coal and other properties,
u' nine coal This charter was con-
sn' am hv the constitution OF Pennsyl-
uIlu, ,dop,ed in 1873. In addition the
n..dinc Company owns sli5O4,W OF the
'.s.ondins stock OF the Central Railroad
o.t e. Jersey. which last year earned 26.05
cent and paid 70 per cent in dividends.
Beading Company earned 7.Si per cent
i"' .,r,non after paying total on pre-
- or $4,000. This rise in earning
80. and prospective values is rcmarka-
-. and interesting when compared with
~. y .o,nt OF view of less than dozen years
W ,ben the future Of the company was
s,ss.,onsd by many and It's management
- forced 10 strict economies TO insure
'.nunuous operations. Its coal ownership,
..,.n NOW Is favorably considered. in those
dovs was a handicap, and the records in
s,.sts that Reading in the Schuylkill re-
law cannot mine coal as cheaply as COM
n.,i,ors in the wyoming and Lchigh dis
,,,,s Reading Is a rich road, made so by
PRESIDENT Bsers policy Of putting back
o.,rjnss into the road and building It UP.
,,.,.sd Of rsying all the earnings out TO
,,ockholders when tho road needed nourish-
,,snt and physical stimulation. The de-
ere. of tho supreme court. which may
oor. soon. may force a change IN the pol
,., and holdings of the Reading COMPANY
IN, that is in the future and is speculative
!, ,s not dificult TO find longs and shorts
IN Reading al any time. but its stock is not
,,dely distributed and tho Reading pool
whenever fancy strikes It is always able 20
rut the stock up or down.
An interesting view Of the probable o.
f.,,s Of the floods in the Mississippi Val
lev has bsen prepared by Thomas Sinclair
q cotton expert. His view Is that II would
IA unyjss for the cotton trade'to expect At
this early date any material decrease in the
nroduction If cotton this season in the
Ntsdssippi Valley The previous heavy
foods on record were In 1872. 1896 and 1927.
In 1897 the food was the most serious in
u-e
Continuous from March until the middle OF
MAY. and large area of southeast Mis-
souri,, Tennessee, Arkansas, Mississippi and
louisiana was under water as late as May
:; TIE Financial Chronicle and the
government report issued in June. 1877.
said that no information on the stand OF
cotton in the Yszoo Delta could be given
for the reason that little bad been planted
there I'D TO the date Of the report, ana
What had been planted had not come 10
|. stand" II was not until the middle Of
lpA that the total area in the Mississippi
Valley vas completely planted. The area
Effected by the food in 1897 was estimated
!, about . O0N. 900 acres Of farming land, OF
which one-third vas usually devoted 10
cotton culture-that is TO say, that 1870"
acres Of cotton land was flooded. This acre
az. yielded approximately 10000 10 5000
bales. \ reference 10 the Department of
Agricuiture's condition reports for 1927 is
interesting II indicates what may be used
as basis Of estimate this season. The
monthly condition figures for the several
states commencing June / were as follows:
Mississippi, IS, 81, S., ST. Il; Louisiana, 81
~ 90. IS. II. Arkansas, Sc, s., %, =, 81; Ten
aessee. u. 81, 81, u, G5.