New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-11
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.
oil Steamships Building.

standard Oil Company Of Cali
q building a s0,000-barrel capacity
.,.amer at the Fore River shipOuildins
c.n,nany's yard. Quincy. Mass The New
:, News shipbuildlng Company is build
an oil tanker for the Texas steam
ms conoapy. an oil barge for the South
snp poc,fc Company and an oil barge for
1,ost Coast OIL Company. A steal oil
to i be,ng built for the Gulf Refining
oo,v New York, at the Baltimore
CV.'i' ~ the skinner Shipbuilding Com
and an oil tanker is being built at
ps"' Alameda yards Of the United Engl-
neerlng works.
Strength of Canadian Pacific.
exhaustive review Of the Canadian
l.,ec system THE London Ststist' has
.s0 following paragraph:
On considering the great financial
...anytb OF the undertaking account has
- no taken, first. of the immense amount
rift devoted TO betterments-in the
Vt seven years alone they have reached
-, onO 900 and. second. Of the fact that
,hs company has devoted to capital pur'
.osas the bounty received from the gov
lament and the whole Of the sums real
ia from its sales Of land. The lana
- have reached a total OF 1902, 100000.
r~,r,hermore, the company still possesses
80 600 900 acres OF unsold land, worth
,orv large sum. In the last year the
-o,A q, $40. 600 acres of land realized sl0,-
"a, 400 an average Of nearly SIC an acre.
Tnus. excluding the unsold lands, which
vii, enable the company to keep down It's
con,tal account in future, the sum ap-
nronriated out of profits. bounties ana
land sales TO improvements Is In the
,,srerate not far short Of s20o.o00.0oO,
"a including the value Of the unsold
land. II Is probable that the assets OF the
oornnanv exceed It's Liabilities by over
,aoo 900 600 It will be obvious that a
,on,,snv in this position is unusually
strong and will be able to hold Its own
against all corners. Nevertheless, the fact
,smains that a new line Of railway is 10
n. onened between the east and west OF
canada, possibly this fall, but certainly
NV, wear and that. before very long
,scond line Of railway will be completed
and opened, and that consequently the
undertaking cannot be expected 10 con-
tinue TO show for the next few years the
immense expansions in its earnings ana
tra.Bc that IL has secured In recent years
The Automobile Industry.
The automobile industry. which has
grown with such rapidly, and which mas
mot developed so far even to-day that all
the urinary curiosity has been lost. is
mammoth Institution.
Figures recently compiled by the Blu
reau OF Statistics show that exports OF
American automobiles 10 foreign coun-
tries IN the fiscal year 1912 were valued
approximately at sS0,OoO,oOo. The total
number Of machines exported ran well
over $4,000, and the figure is growing
every month In 1899, less than thirteen
years ago. the United States manufact-
ured. all told, less than s5,O0o,0oo worth
Of automobiles. while in 1910 the output
reached nearly $3.50, 900, oo0 and by this
time is probably well upward OF $780,
100000 annually. The capital invested IN
the automobile industry Is at least $500
100000 and more than s5o,ooo,OoO in
wages is distributed annually by auto
mobile plants
Standard Oil Compsny's Error.
Even the best regulated corporations
allow inexcusable errors 10 occur IN their
clerical and statistical departments.
most peculiar mistake occurred in the bid
OF the Standard oil Company, at New
Orleans. The figures in the bid submitted
TO the Sewerage and Water Board for sup
plying fuel oil were written incorrectly
and the bid was declared informal. BIDS
were opened recently for supplying the
drainage department with 10000, 1900 or
5000 barrels Of oil. There was only one
bid and that from the Standard OIL Com
pan7, In giving the price OF the oil, the
figures were written az s1o5 barrel In
stead Of 81 05 a barrel. The bid also
failed TO have the price written in both
letters and figures Secretary Shields
concluded that the bid was Informal and
consulted with the attorney Of the board.
who also declared that II was. The bids
Will have TO be readvertised.
Sears. Roebucks Dividend.
A news item sent out by Thompson,
Iowle Co. gives the following:
Some time ago We announced that the
stockholders Of the Sears Roebuck Com
pany would this year receive stock div
idend Of Is per cent, increasing the COM
mon stock from 100000 to s50,OoO,ooo
We are now informed that this action
VIII very shortly be taken. but II will be
'he last stock dividend stockholders Will
receive, for II is the intention Of the man
agement TO pay ali future dividends In
cash. and the shares now paying Z per
cent may In future years receive large
cash disbursements, and some OF the
reading interests in the company believe
mat the stock is entitled on these pros
poets to sell very much higher than its
present record price.
This year the company is expected TO
10 gross business Of SsO,000,0OO. and q
net Of 10 per cent Of that, or 100000 but
inc introduction Of the parcels post is ex-
pecteo to enable the company 10 do a
gross business In 1913 Of 800, 0o0. 600 and a
net business Of between 100000 and
n,cD.oo"
Status OF Coal Market.
The Black Diamond" in It's last issue
mas the following:
Inc national coal market presents
curious situation. New York, New Eng
'and and Philadelphia fear coal short
ase and are preparing against II by such
vigorous methods as put prices 10 a
premium even this early In the season.