New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-20
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

automobile men look for a tremendous
,,,lress I'm 1918. One authority places the
e-.,5 total of the business Of the auto
e.-ltrs associated industries for next
s, at 3lO00Oo,CC0 This is remarkable
IN considered that practically a dec
~. covers the period of the present form
o,gaDization and the bringing of auto
,EUs securities before the public
n,sstber the automobile of the kind now
s.1,pr popular favor has come to stay
=. vet an unanswered question.
The Lima Stock Exchange.
% far as the American public is con-
nod I'm a general way quotations on
=. lima Stock Exchange of Peru mean
sIry little. But in Peru that institution
q, important one. Consular reports
cav that il is a valuable acquisition TO
t35t part Of the country.
II exchanges publications with similar
,orsign Institutions, and sends to Peru
,5ap consus a monthly statement of
lies and commercial conditions in Peru,
s,s,pg them to respond with similar In
@1r,cation from abroad. 1t publishes a
douv bulletin containing extensive lists
- cnIotations OF various kinds, and gives
Sgsry month statistics of exports of Pc
r,,ian products, the movement of bust
moss at the port Of Callao, and such other
incarnation as is Of interest in addition
30 me usual market quotations and
notes.
Volume Of Steel Business.
-..,,.,,,, f,..,,,, p;t.sb,,rot,
and our sources Of information may be
accepted at anywhere near their face val
~ the Steel Corporation has now more
o,,isrs than at any previous time during
ara history. IN fact, a sufficient volume Of
business Is now on hand TO keep the
mills in operation for a period Of six
noptbs at about fun capacity. Again It
a. stated that the United States Steel
CORPORATION is refusing as much If not
more business than it is accepting. By
January i, next, barring great change
In the trend, the Steel Corporation will
have sufficient orders to keep running
full during all Of 1913.
Mccrum- Howell Plan.
Sufficient assents of creditors and stock
holders having been received TO the plan
and agreement Of reorganization of the
AFOREMENTIONED Company, dated Septem-
Der q, 1912, Il was reported yesterday that
the plan and agreement have been de-
cIared operative and effective as Of De-
oeuIber by the reorganization committee.
The balance due on subscription TO the
new shares, subscribed for on form No l,
hes been called and must be paid by De-
cember 20 the Bankers Trust Company,
of New York, or to the Chicago Title and
Trust Company, Of Chicago. Payments
must be accompanied by the certificate
issued under the plan for the first install
mtnt
The balance due on subscriptions TO the
new shares. subscribed for on form No. 2,
may be paid al the same time and places,
and II not paid then is payable with in
.tersst al the rate Of 6 per cent per an
nrm from December 2. and is called for
Payment al either the Bankers Trust
Compauy OF The Chicago Title and Trust
'C9ppany
Cotton Consumption Growth.
In an article on the cotton industry
The Wall Street Journal has the fol-
loving paragraph: Scarcely anything in
the past twenty years of American indus
trial development has given the foreign
cotton spinning interests more concern
than the progress of the United States IN
the consumption of her own raw material.
As a measure of this growth, it is enough
to say that in 1890 the total American
consumption of cotton, on the H.5iS,OO
spindles which had been operating, was
25lgCOO bales, compared with 5,24000O bales
in 1879 and 5,35S0oO bales last year. The
Increase in eleven years since 1890 is lO9
per cent"
Int Steam Pumps New President.
At a meeting Of the directors Of the
International Steam Pump Company, held
at. the conpany's Office in this city yes
terday afternoon, William r. Dickson, Tor
a number OF years first vice-president OF
the United States Steel Corporation, was
elected president. He succeeds the late
BENJAMIN Guggenheim, who went down
on the Titanic. In the mean time the
ofihe Of president has been vacant.
S. r. and William Guggenheim have
been giving the affairs OF the company
considerable attention. The latter Is
chairman Of the board. L. p. Feustman
Is vice-presldent and general manager
Mr. Dickson had many years expert
enee in the steel business through MS
connection with the Carnegie Steel Com
pspy. Upon the formation of the United
States steel Corporation he accepted the
ONCE OF first vice-president, which he held
for several wears Five or six years since
he retired from that Office and in the
mean time has devoted himself to his pri-
vate interests Those who are tamlllaT
with Mr.. Dicksons record in the steer
Industry do not hesitate TO say that the
International Steam Pump Company maze