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

mills are receiving such hea,,,, -...
tons that deliveries are falliny 80 ~,
withstanding the fact that tbo 60, go
poratiOn shipped in May probab,,. a., ,,o.,,..
ieSt tonnage OF any month in its career. the
oooked ORDERS Tor the month. it is predicted,
VIII snow an increase of about 1oO. 900 tons
Prices generally show strength
S3,oco,oco Suit in Costa Rie,
The Atlantic Fruit and Steamship Com
pany has filed suit for $4,000. oOo IN cold
against LAndo Brothers. the largest banana
plantation owners in the world. according
TO advlces from Costa Rica.
The suit has caused one Of the bi,cest
sensations in the history OF Central Amer
lean industrial affairs and financial manic
Is said TO he threatened. The suit Is based
upon an alleged breach of contract
Nhen the announcement OF the Atlantic
Fruit Company's formation was made in
Costa Rca some time since II pereraIlv
was welcomed as the harbinger Of an era of
prosperity. II was stated that 81 zoo ooo
was to be paid for Costa Rican banana
plantations and that both the new company
and the United Fruit Company planned 10
H., forms
the republics chief item Of export. Plans
TOT new ramWays and railway lines were
made options on banana plantations we're
bought up eagerly, and the establishment
OF bank for making loans TO banana
growers on easy terms was promised. Now.
on account Of the legal tangle. DEVELOPMENT
plans have received so severe a check that
commercial and financial interests are nj d
loss. and II is feared many of the projects
VIII fall through. one rumor that has had
Il depressing effect is the report that there
Is an effort afoot TO turn over the Lindo
properties to the United Fruit Company.
80 that, instead Of the expected competition.
the country would bn at the mercy of the
big Boston combine.
Calumet and Arizona.
The Calumet and Arizona. it is reported
has been making underground discoveries
recently. On the l.5OO-foot level Of the
Junction II cut an ore body which was
first encountered on the l,300-foot level
and which demonstrates a length on this
ore body Of 1900 feet and 200 feet In depth,
and the ore is said to average around 10
per cent copper.
c. & o. Improvement.
Belief in the ability Of the Chesapeake
& Ohio to maintain its present per cent
dividend rate is warranted by the report
showing the current earnings of the road.
The large increase in business reported
for March was apparently more than tenn
porary. for April returns show an increase
of $4,000 IN gross and an increase Of
S447, 600 in net
The Chesapeake & Ohio is showing i'm
provement. It must be said that one Of
the reasons for the large gains In earn
ings is that March and April OF a year
ago were exceptionally poor months In
March, 1911. the gross showed a decrease
of $4,000 and net a decrease OF s5l7 900.
In April Of the same year gross decreased
$4,000 and net lost s267 coo
BurIinstons Big Surplus.
In the min0s OF Wall Street investors
there is a question as to how long the
Burlington can continue TO pile up an
enormous surplus without distributing q
larger share Of earnings III the ten
months TO the end OF April the Burling-
ton earned s2l,7O2,0O0 net, nich is about
SIS share on its capital stock After
the distribution of the regular per cent
dividend a balance Of approximately
s1,500000 still remains. Part of this sur
plus will be used for betterments, but the
surplus account will probably be increased
by at least $4,000, 900 or 100000
At the close of the 1911 fiscal year the
accumulated surplus of the Burlington
system amounted to SS713S,OOO At the
close OF the present fiscal year II will
doubtless exceed 500 600 600
Northern Pacifc's share Of this surplus
is equivalent TO ST. so "A share on its out
standing capital stock, while Great North
ern's share is equivalent to 500 20 a share
on its 5000, ss1, 500 stock.
To Permit Stock Transfer
On June 10 the Public Service Commission
will hold hearing at 2:3Q o'clock on the
application Of the South Brooklyn Railway
for permission 10 acquire the capital stock
of the Prospect Park < South Brooklyn
Railroad Company and the New York &
Coney Island Railroad Company, the for
mer consisting OF so shares at 800 each
and the latter OF 1000 shares at 500 each
The capital stock OF both companies has
been issued and is outstanding.
New York Railways.
The Public Service Commission has or
dered a hearing for June 10, at $50 o'clock
on the application Of the New York Rail-
ways Company for permission to issue s754-
GO per cent bonds under January I, 1872.
mortgage. to refund an issue OF $4,000 OF
the Metropolitan Crosstown Railway Com
pany bonds i'm the reorganization proceed
ings of the Metropolitan Street Railway
Company.
Imports Increasing.
Francis w Bird. Appraiser of the Port,
gave out yesterday the following summary
Of cases handled at his Office for May, as
compared with the corresponding month of
1911
Examined by
Received. Delivered. appraiser.
Nav. 1872. ...... 57.J47 Is. 2ss IS, ipS
May. Igll....... 54,45J 54,40I $500
Cases on hand awaiting examination by
the Appraiser at the close Of the month
were 1864. as against 6,j76 year before.
Invoices handled were as follows: Received,
s5.142; returned $3.50. Last year in May
there were 3l,ss2 invoices received and 3l.si9
returned.
BANK IN RECEIVER HANDS