New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-07
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

fOt tIIC tItNCOtOis
:, is not strange that the market is
.,rong when the leading men of various
,a,orests are giving out bullish interviews.
rhep in addition to this form of develop
,ns enthusiasm. the specially houses are
.ooroing their pets and advising customers of
uood things that may come very soon. There
re always sellers when there are buyers,
nd these big fellows may have some stocks
40 soil This is the inevitable when the
market begins its true discounting swing.
Clover Leaf Earnings.
The earnings of the Glover Leaf up to
,be 'end Of April were $685. 900 net, which
,,cluded transportation income. A deficit
~ s28S 500 was left after charges of about
tos5 600 had been accounted for. During
Tho fiscal year of 1911 the road earned
lightly more than it's field charges, the
margin of safety being only S72,791, and
r,ben dividends of sS9S. 100 were paid there
x,as deficit of $325,0O0 1t will require an
extraordinary volume of business in May
and June TO allow the Glover Leaf to earn
re interest charges this current fiscal year.
Missouri Pacific Deficit.
According to statement attributed to
president Il. f. Bush Of the Missouri Pa
c;de and u nver e. Rio Grande roads the
Missouri Pacific's deficit after charges for
the current year will be i'm the neghbor-
hood of 100000 The deficit for the ten
months 10 April 80 was S1,9S7,500, and IL is
improbable that any Of the deficiency will
he made up during May and June, by rea-
son of the heavy expenses necessary for
repairs to food damage along the Missis-
sippi and heavy maintenance OUTLAWS on
other parts of the line.
Confident of the Future.
The expenditure Of sum of Sl70o0,0oo for
new construction in three districts alone
goes to show that the United States Steel
Evaporation has full confidence I'm the fut-
IRE Of that industry. Eight million dollars
of the above named sum will involve the
construction of a new rail mill. open hearth
furnace, etc, at the Edgar Thomson
works The slabbing mill and other work
at Gary will have $S,00o,0o0 spent for inn
movements, while the completion OF the
Duluth works will involve approximately
100000.
First Since 1910.
For the first time since 1910 the Pennsyl-
yania Railroad has sold equipment trust
'secufities Six million dollars of per cent
equipment trusts have been purchased of
the road by Kuhn, Loeb & Co. The pro-
ceeds will be used TO purchase additional
equipment for the Pennsylvania. east and
west OF Pittsburgh. 1t is reported that
5.Oco cars of various types will be ordered.
Protect Moneyed Interests.
owing to the numerous amount Of thefts
especially the taxi robbery of this year in
the financial district. the National City
Rank. zimmerman & Forshay, the United
States Trust Company, the Safe Deposit
Company of New York, the Standard Safe
Deposit Company and the Bankers Trust
Company have petitioned the Board OF Es-
Innate for a renewal of the franchise of the
Mercantile Burglary Alarm Company
which they say is desirable and necessary
for their protection. This petition, with
that Of the Mercantile company for new
franchise, has been referred by the Board
Of Estimate to the Bureau OF Franchises.
Condition Of Pere Marquette.
News has been received that the receivers
Of the Pere Marquette will meet represent
atives of the different protective commit
tees in New York on Monday next for
broad discussion of the future prospects OF
the property.
seaAccording TO the statement issued. earn
.isgs of the road for the month OF May
showed but little Improvement over the
same. month a year previous, owing TO the
damage done by the floods Of the first two
weeks Had IT not been for this unexpected
occurrence of injury 10 earnings total
gross receipts would have shown a material
increase over May, 1911, evidenced by the
fact that during the last week of May there
was a gain of s2S,2OO.
Small Change in Gross.
western Maryland reports of earnings
<show- the smallest changes in gross in the
ten months ended with April recorded for
.snv road. The gross declined only 1912,
tthe total earnings for the period being
S.ssssss. Net earnings were sl,721,226,
decrease Of sl72.1OO. Other income, how
ever. brought the total income up to S.
ds5.ss5. a decrease of s127,43S In the month
of April there was a gain of S75,639 i'll
gross but a decrease of Sl6,24S in operating
net Present indications are that Western
Maryland will end the fiscal year with
net income more than $4,000 less than last
year. or about per cent earned on the
preferred stock.
~. Now Amply Financed.
q Continuous growth of General Electric
snles naturally brings rumors Of financing
for additional working capital at different
times The company. however. now has
working capital sufficient 10 take care OF
It's present business: in fact. something
over 800 0OO, 900 sales. Only some sudden
spurt In business. such that of 1906 and
carly in 1907, when the sale Of s13,OOo,OOO
Convertible bonds was made, would call for
new financing.
The Secretary Explains.
IA The plans Of the La Belle Iron Works
Which propose to increase the capital from
10000, 900 10 100000 900, half Of the in
tresse 10 be preferred and the other half
ifommon stock. are explained by III. d.
IWestfall. secretary of the La Belle Com
seny. lie states that II is the intention OF
ths officials 10 increase the capital. so that
The share value may be nearer the actuai
value OF the properties and plants.
BOND DOTS.