New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-24


The Lehigh Valley, 1t is said, is pre-
pairing TO take up large tonnage Of rails
laid recently which have proved a disap-
pointment They have not stood up under
the roads traffic as we'll as il was hoped
they would, and are TO be replaced with
rails rolled from different class of steel.
Joseph di Giorgio. president OF the At
lantic Fruit and Steamship Company, has
departed for London The officials OF the
company said the regular meeting Of the
company scheduled for Friday would be
held irrespective Of his absence. They
refused to say whether his sudden de-
parture had anything to do with the re-
organization.
These dividends have been declared:
Corn Exchange, Bank quarterly dividend
OF per cent payable November l on stock
OF record october 81.
Republic Iron and Steel Company. quar-
terly dividend OF q per cent on the pre-
ferred stock, payable January T. 1913
Tho Prairie OIL and Gas Company, OF
Kansas, dividend OF So O share, the fourth
since segregation from the STANDARD OIL
Pressed Steel Car. dividend payable No
yember 30 on stock OF record October 80.
T. NJ. Schumacher has resigned as
traffic manager and director Of the Amer
lean Smelling and Refining Company TO
become vlce-president Of the FL Paso &
Southwestern system, controlled by
Phelps, Dodge e. Co. Mr. Schumacher
will have entire charge Of all the depart
mCnts of the FL Paso e. Southwestern,
with headquarters at No 90 John street.
Vice President S. w Ecelcs will have
charge Of his former work with the smelt-
ing company
John T. Murphy was elected a director
OF the American Type Founders at the
annual meeting yesterday. He comes ~
an addition to the board. all the retiring
directors being reelected.
Justification for the declaration .of a
l& per cent dividend on the preferrri
stock OF the Republic Iron and Steel
Company seems to be warranted by the
earnings for the quarter ended September
30. The outstanding accumulated pre-
ferred dividends of the Republic com-
psny. after deducting the quarterly divi-
dend payable January 1. 1913. amount 10
5h per cent.
President Ballin OF the Hamburg amer
lean Line in this city confirmed the Bos-
ton report that the steamship company
had decided 10 establish a first class pas
senger and freight service between that
city and Southampton and Hamburg.
This service will be put In operation with
in the coming year. he said, and will In
clude, probably, two of the new steamers
now being built.
The secretary of the Minneapolis & 81,
Louis Railroad Company. 1t is said, has
received advance figures showing that
the surplus revenue for September over
and above all interest charges and taxes,
and after charging of extraordinary ex-
penditures for steel rails were I'LL, 600, or
AZ the rate Of over 20 per cent year on
the preferred stock. w
The steel pipe and boiler tube trade re-
AActs the prosperous activity In other
branches of the steel industry. The Ma
,,orat Tube Company and the. i1depen-
dents are reported 20 be running at fuil
tapscity. and with present bookings VIII
continue 10 do so for three months TO
co,ne And this Notwithstanding the fact
,hs nrice of pipe has advanced s. in
the last three months.
The American Steel and Wire COMPANY
has advanced the price OF wire rods u a
ton, to $40. The Pittsburgh Steel com
pany has been receiving this price Tor
some sirae.
G. C.. Cassels, who until reeehtly mas
been associated with the Bank OF Mon
treal, at London. has become ASSOCIATED
with william p. Bonbright co. 81 the
New York ONCE Of that firm. with a view
to becoming a general partner therein
upon his return TO London few months
hence. Mr. Cassels's association with the
Bank OF Montreal dates from 1888. lie
49,. afnca heen active In the MANAGEMENT