New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-22
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

for the Investor.
This is period when speculation re-
gardng the years earnings OF various
corporations has chance. With the rec
ords Of the eleven months upon which to
| base estimates, close observers can make
guesses which would be approximately
correct The year 1912 will make favor
able showing when all the returns are in.
A Change in Missouri.
If the reports from Missouri are to be
| depended on a new attitude will be as
sumed by the recently elected Governor
Instead Of being at war with corporations
doing business in that state his policy
will be to harmonic and utilize the cap
italistc and corporate combinations. His
purpose will be to discriminate and not
TO attack corporations simply because
they are corporations. and capital will be
invited to utilize the investment oppor-
tunities offered in Missouri and Will be
given sfficient protection to insure liberal
development
Car Shortage in Ohio.
The car shortage which last week was
reported to he relieved considerably is
said to be growing more serious in Ohio
in the coal fields. There is reported
congestion Of traffic. and sharp rises In
the price of coal. II Is thought, will fol-
low. The mild weather has kept the
situation under moderate control but
snowy and stormy weather il is feared,
will result i'm considerable trouble.
Increase Stock and Dividend
The Electrical Securities Corporation
stockholders have authorized an increase
In the common stock from 100000 to
So, 500. 600. At recent meeting OF the
board Of directors stock dividend OF %
per cent was declared on the common |
stock. payable on December 81 10 holders |
Of the common only OF record on Deem |
Der a.
As the General Electric Company owns |
all the common stock Of the Electrical |
Securities Corporation this dividend viii |
be contributed to the fund Of that COM
pany
Foundations Have Been Laid.
In their weekly letter Wagner. Dick !
erson & Co. say
THE severe shrinkage In market valu-
atoms Of listed stocks during recent weeks
has been due primarily to demands Of the /
money market and IN no small part TO APP
prehenson with reference 10 tariff re-
vision. with January disbursements
shortly to be arranged. the period usually
marked by easier money rates is at hand.
II these do not materialiZe II will be be-
cause general business is exceptionally
active and corporation profits are CORE
spondingly large. The tarff hearings
scheduled for next month will IN their
early progress indicate the extent OF re-
vision actually contemplated. substituting
facts for disconcerting surmises. IL - !
admitted that the foundations for a pro-
longed period Of prosperity have been laid
and that thus far there has been no such
slaokening Of Industrial activity as 10 in
dlcate that tariff changes are greatly to
interfere with present progress. 1t would
appear that a season Of comparative rest
from administration activities against cor
poratlons Is approaching. with some pros
pect for constructive action In their favor.
n Is a time when the investor may with
safety make commitments In selected
issues which have been unduly depressed
in sympathy with other stocks. and may
feel assured that IN almost any direction
his purchases will be followed by moth
ing more than temporary and perhaps
only limited recessions in prices
Some Favorable Factors.
The situation as II impresses Henry
CIews l. shown in the following
The January disbursements this year
will reach about S250.OOo.OOo much
larger sum than last year. owing 10 the
increase in security issues and 20 the in
crease In a number Of individual dlvi-
dends With less tension In the money
market az home and abroad. with low
prices and with the January investment
demand close al hand. the immediate out
look OF the market has decidedly I'm
proved. Another favorable factor is the
record breaking foreign trade returns for
November. imports reaching l530oOOOO II
and cxports S277. 600. 900. This enormous
excess In exports was due 10 large ship
ments OF cotton and grain, and was
in spite Of a loss In meat ex-
ports This strengthens our financial
status abroad. and gold imports might
have been possible were 1t not for the ;
continued financial strain abroad, intensi-
fed by the war following a period Of UNI
usual trade expansion In Europe Heavy
loans estimated at over s300, 100000 are {
likely to be soon put out as result OF