New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-04
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.


stock would give large dividend, probably
On scrip. very soon. II was handed about,
nith inside information flavor. that direct
ORG would not deny the report
American Tobacco is said 10 be in a posi-
,ion to-day TO make a large disbursement
T. fact. such q move would have been DOS
.bls the first of the year, but a number Of
,ba directors were known TO favor wait
ing at least year after the handing down
~ the dissolution decree This company
ooc,pies position different from that of
& ,hA Idggett & Myers Company or the p.
rorflard Tobacco Company. inasmuch as It
started operations with a large surplus
after reorganization plans were completed.
Consolidated Fuel Properties.
The United States Smelling. Refining and
Mining Company. according TO reports from
Gait Lake city. paid $l,2Oo,OOO on SATURDAY.
for control Of Consolidated Fuel properties.
comprising I'VE thousand acres in Emery
county. together with Hiawatha Townsite
ana a half interest In Southern Utah Rail-
road. connecting the mine with Rio Grande
railroad at Price. There were 10000 of
the 15OooO shares purchased, at 81 30 a
share.
III
asst bituminous coal properties in the West,
s n~oducing 30 tons daily and will produce
On tons daily beginning October l.
II Is expected that the output will be
increased to 100000 tons annually within
wear and that eventually it will produce
IoC00NO 10 100000 tons a year.
This property. together with Blackhawk
and Castle Valley coal lands recently ac-
. a. =
ssid gives II control OF ten of the richest
coal felds in the West, and IS part OF
Man for which 100000 was recently raised
on an issue Of notes.
Mexico usins Argentine Wheat.
Flour mills of Pueblo. Mexico, and other
sections are said 20 bv importing large
4, cuantities OF wheat from Argentine in order
70 make up the domestic shortage occurring
IN that grain. Vera Cruz, Mexico. was the
mort 10 receive the first arrival Of these
snipnents The wheat crop in the states
Of Pueblo and Hidalgo. according to re-
ports was much smaller than usual this
year However. the harley crop was eA-
tremey bountiful
More Work for Stael Company.
It IS reported that the Sharon works of
the Carnegie Steel Company will run on
double turn within a few DAYS. The plant
has been continuing on the single shift for
some time The angle mill, situated in the
VALLEY. is the only department of the Car
regie Steel Company that is not operating,
outside Of a blast furnace at Farrell. Penn.
About seven hundred men find employment
at the local plant.
Colorado G. Southern.
The Colorado &, Southern continues 10
show comparatively large losses, but friends
Of the road say there is not as yet any par
ticular cause for worry on the part OF
shareholders. Dividends are reported TO be
vel secured surplus available for divi-
bends in the ten months 10 the end of April
declined approximately 80 per cent. but the
company earned q full years dividend on
ali three classes OF stock with fairly
liberal balance remaining.
Southern Railway Earnings.
i The Southern Railway enjoyed pros
porous May, according to preliminary re-
turns which show that the volume of bust
ness was approximately s225.o)) larger than
u the corresponding month last year
April was a particularly good month.
Orserating revenues gained $4,000 This Is
the largest gain reported for any month Of
the present fiscal year.
Foreign Visible Copper Supply.
The visible copper supply in England,
France and afioat thereto, on June J. Sl2'
vas 44,6l8 tons, a decrease of l,5I5 tons
within the last two weeks In addition TO
the decrease OF l575 tons in England and
France. II is reported that there was
decrease of 1871 tons al Hamburg and Rot
ter1am. making a total decrease anrodd
Of 2.e52 tons. and bringing the stocks on the
otber side down 10 $3.50 tons, as agslnsl
55,Sl2 two weeks ago, and 5S,sS2 month ago.
The Government Contract.
The reports are going around that the
Texas Company will again be awarded the
contract for supplying fuel oil to the
United States government. TO be let shortly
The Texas Company is said 10 be the only
bidder on this contract, and has supplied
Gil to the government for the last TWO
years in view of the fact that the navy
V usins more petroleum every year II -
. predicted that the present contract VIII
run between 100000 and 100000 gallons
OF almost double that of last year.
The Future Prospects.
The Iron Trade Review IN an editorial
or the steel industry. says In part.
Including foundries machine snop p6o
mines furnaces mills, etc, there are 4o,yJg
Embellishments in America, when, OF ny
average should have two inolVloudh
lesst Who are entitled 90 membership III 'he
xreatest Industrial growth. ..o,,ag
With a gross income that applodcu NJ
closely 20 that Of the comDlneQ WIZ, g.,
cotton crops Of the country, luaI - 'tbat
taking RAPIDLY the nations corn crop, t IL
EMPLOYS many million persons 9psLl a tr,ts
over a quarter OF million esta MIS-
paving IN salaries and wages ctheT in.ii i'',6
Of dollars and turning out producIs Ndi"'N
az billions Of dollars ,..,,.,. ar. and
As g. contrast 20 what copdluols Hiy
2 what they may be- n need 0riiy Do Poi,leor,
out that we have at WashlnzuIl, ds p oIt
Of our national government, neB0' unbicb
spends many thousands OF dollars yea
subsidizing the farmers by Stiui .iis 40
free OF cost carloads OF literatuI. 80
seeds while on the other hail1, IT, ~. en-
one department but several incIucils &c
gress, keep up a terrlnc Wa Ia.t 'ppotion's
steel Industry the BACKBONE VI Inv
Industrial supremacy 8, ..o,ned
The ron and steel industry asks oniS i'
square deal.
Reducing Production Costs
From reports It seems that for some t'',p
past the cost Of production at the Ahac"hu"
group OF copper mines has averaged > cents
pound the lowest ON record. Last yea.
toe cost OF producing copper was about 800