New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-23
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

under present circumstances. OF course
I, would make a bowling ticket Taft and
roosevelt, and Wall Street could have them
both comm and goin'.
May Increase Dividend.
There is a rumor that Mohawk directors
will probably order a substantial increase
in dividend at the next meeting, to be
held IN the first week Of July. The in
formation does not give any amount Of
this increase that may come.
Bring Closer Relations
\ series Of revival meetings Of all the
hanks at the Bank Of England, It is said,
has been started by the present governor
Of the Bank Of England. Alfred C. Cole,
with the hope OF creating a closer work
sng relation. 1t is predicted that by thus
coming in constant touch, and by discuss
srg money market conditions during nor
nal times. the London banks at large will
be better able to deal with emergency sit
Nations whenever they may arise.
Not Yet On Its Feet,
Receivers of the Atlanta Birmingham *
Atlantic the bankrupt railroad or the
South, into which millions Of New England
money have been poured, have arranged
- ~ sell the $4,000 per cent receivers
lhe new securities have been taken 10y
Kew York banking syndicate. The new Is
4 sues. it is expected. will probably be OIL
fered in the near future at around So. Re
Leivers Of the company estimate that the
hroceeds from these new securities Will
Enable the road 10 meet the $4,000 per
Eent receivers certificates maturing on
Gully L
But. most important OF ALL they Will pro-
h4de about s.. 10000 new cash for certain
improvements, and it Is said that this pro-
Sfsjcn was a part Of the reorganization
Man. but the Atlanta, Birmingham At
santic net. IL is said, has not expanded to
. point where reorganization is yet feas-
.tle feature. Owing to this, the fixed
charges are below $4,000 a year, and that
will be Just about the size Of net for the
fiscal year.
No Increase in Leather.
II is reported that the shoe manufactur-
.rs as a whole are normally busy ouI
orders are coming in at slow rate Inc
number of duplicate orders for summer
goods thus far has proved somewhat as
couraging, and fall and winter business mas
70, been substantial in very large proper
lions, the result being that factories are mol
onerating as fully as could be wished.
=
strong. but there has been a fairly easier
tone in the market for both packer ana
country hides Tanners say that leather IS
sill selling below what it should 10 secure
q fair margin of profit above the cost OF
raw material The feathers that are IN
best demand are the oak and union sole
Utilizing Waterfalls.
Information received from Mexico states
that the Mexican Midland Light and Power
COMPANY, in order to successfully WORK lhe
concessions granted to the Conpah'a
15vdro-Electrica Mexicana, 5. 4, has re-
Gently been incorporated in the province %
ontario. Canada. These grants authorize
49, sa,.s,on,oant Of the waterfalls Of the
Rio Naranio and the Rio Blanco Tor
TIE generation Of electric current. Upon
con,nletion Of this undertaking II is esn-
mated by the companys engineers thaI
about 100000 horsepower will be developed |
Nicaragua Bonds.
The long standing dispute between the Re- |
rryblic Of Nicaragua and its foreign ooho-
holders is about to be settled according 20 |
renorts. owing to the mutual agreement
reached a few days ago in London. The re
Tnblics interests are upheld by two promi-
,A,t New York banking concerns. THESE
RANKING houses, operating in conjunction
Win the State Department at Washington
,,iu continue 10 take charge Of Nicaragua
finances. ..,--, ~
n is reported that Colonel Clifford r.
Ham. appointed in December last by inc
American bankers, is 10 continue as coIIec-
TOR general Of customs. Interest on the
loan Of s6.250,00O Nicaraguan per cent
bonds Of 1909, on which the January inter
est was defaulted, will be reduced from
per cent to 3 per cent, and the oonds may
Re lid of in two years at %. in four years
at a. in six years al 20 ana IneI eai's, a.
mar Commencing with the July lsI-
ron,on the rate of interest will be . pc
cent while those Of January, 1872 VIII %
the regular per cent Meanwhile the
New york bankers agree 70 advance 81
M nm to aid Nicaragua in redeemlng JUS
,aner money and make other financial pro-
visions.
New President for Alton
Pyroor saws that the next president OF
the Chicago & Alton will be 3. a. Worth
invton. one of the former receivers OF the
Wheeling & Lake Erie. who viii succeed
7 P. Shonts.
Il IS not as yet clearly understood IL Is
said whether or not Mr.. Shonts VIII SUIT
render the presidential chair oil the Cove
Leaf The vital question has not NeI D'e''
placed before the Glover Lear dHec'o'S'
but owing TO the very close relations eA-
isljng between the Alton and Glover Lear
and that Mr.. Shonts wishes all OF MS hnle
n devote % New York traction ahaFs' IL
seems reasonable 70 presume that he VIII
presently resign as head Of the clover
Leaf
Weekly Bank clsarnsS'
The bank clearings for the week as gwen
by the Financial Chronicle are as FOL
lows: The countrys totals are given at
9uO5l 40. as compared with @'"V'''"o'o''
las, week and s2,99O,944,s43 in the CORE
spending week last year. The most pro
nounced gain in percentage was mace Dy or
Louis. which increased 145 per cent. Inc
greatest loss occurred in Boston "nich ue.
creased l8.4 per cent. New York gained
per cent. with clearngs amounting 10 e.
l2:Us.Ns for the week, as compared Win
IHD4OOs7 last week Chicago mace
gain Of 1913 per cent, and the clearings lot
that city amounted TO $20odSoI against
&z2s,737,075 last week.
Convention Beneficial.
Marshall Field & Co, of Chicago say
business in wholesale lines OF drygooas
and notions has been better than wouId
d week following