New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-09
BRIEF NOTES OF Finance
paraorsphS of Current Interest
for the Investor.

Paragraphs of Current interest
for the Investor.
announcement OF the first meeting OF
1o,ore Roosevelts third party organization
.artainly warmed things up. The weather
rss given a few extra touches by Old Sol
- thA bears made things warm for some
- the bulls in yesterdays market 1t was
4 hot day
: 1,' Have Released Options,
oer,ng 10 unfavorable engineering re-
..r+s the Guggenheim interests are re-
,n,fsn-to have relinquished their options for
.saeJ, on the forty claims in the Miami
district, adjoining the Southwestern-Miami
Record for Anthracite.
The anthracite coal production in Penn
.yIvania for l9l. broke all preceding rec
ards Of Pennsylvania anthracite coal sup
rlv. according to the United States Geo
logical Survey, and exceeded the previous
maximum output in 1907 by 100000 Ions
tons. The final complete returns to the sur
yey show a production in 1911 of So,752,ol6
long tons, valuation Of which was STA, $751;
sg THIS made an increase over the 1910
d, output Of 5,2SS,767 Ions tons. and the value
z was ai,677.5n.
Western Steel Trade.
Various current reports from Chicago an
nounce that the Western steel mills refuse
practically all the new tonnage, especially
the rails. Many companies are said 70 be
booked up 20 the end of the year. and
during the last week have absolutely re-
fused many fair orders. which consequently
have come East The Cambria, Pennsyl-
vanfa and Carnegie companies are said 70
have room for a few more, but not many
The railroads deferred their rail and other
orders too long and are now scramphns
uselessly to meet pressing needs. The car
demand is active again, but car plants
could not do very much more for this sea
sop,s requirements even II they had con-
tinuous supply OF steel
Southern Railway Prosperous
r,a Southern Railway has exhibited an
Improvement IN earning power for seVeral
years past, and business for the twelve
months ended June 30 last showed per
cen, increase over any previous year.
The balance available for dividends was
equivalent TO about So per share OF pre-
,Ar-Ad stock outstanding. II is not likely
that the preferred dividend rate will be in
creased anyway before fall, because com
rr-sh snsiye plans for improvements and bet
garments are necessary and all available
eurplus earnings are being used for this
nprpose. The bulk OF this work. It Is ex-
nected. Will be completed this autumn, ana
u IS thought that the dividend may be in
creased AZ the October meeting Of the
board.
Steel Corporations Prospects.
y ,s expected that earnings OF the Steel
co-noration will show considerable improve
want IN the third quarter Of the year. not
o,Iys because OF the prospective increase IN
Susinegs. but because prices are gradually
.tiYen,ug. According 70 current runors the
= prospects are good for a further advance
IN quotations within the next month. Dur
ing the last few weeks new business has
averaged about IS 900 tons g day. The IN
hred tonnage statement to be published on |
tire 10th inst, II IS said. VIII snow httie
change tn orders or hand.
NAV Levy Assessments,
II Is rurnored that no more than 100000
will have 70 be raised by the Pere Marquette
IN fts reorganization But the exact sum
has not thus far been determined, and Anal
Mans are not completed It IS thought
,sat q readjustnent OF the companys az
.s1s sr4u be effected before the close Of
jsfst2
II Is rsported that an actual assessment
n, -hA present stock may be levied, but the
5s ha mi
bssn decided upon II further calls be
made upon stockholders they will prooaniy
Re IN small figures. J. P. Morgan co.
have for several years held no'oc snares
~ the common stock, and with the rosu
free from receivers this block OF STOCK
VIII be found elsewhere than IN the Morgan
strong box. The protective committees
formed to care for the interests OF the
-stockholdsrs and the and 6 per cent notes
,yxdll have charge OF reorganization
4 ~ Both Records Broken,
The total exports for the month Of May
Of iron and steel aggregated 50Ts5s gross
tons, valued at s2s,05o,247. It is said that
Nays export figures broke the records IN
both valuation and tonnage. The collective
shipments abroad in April Of the present
year were valued az $26,7ss,S53, or S,2Io4Vo
less than for the following month For
May Of 1911 tho shipments were values at
t2o.6ls.7s5. indicating tremendous increase
IN one year
Doubled lts Capital,
80 The Austin State Bank Of Illinois, which
doubled its capital 10 $4,000 SIX years ago
BY declaring 100 per cent stock dividend
: has again doubled its capital 10 the extent
r-of $4,000, by declaring stock dividend Of
2 81 per cent and allotting % per cent 20
new stockholders at 90 Surplus Is $4,000,
Of which sum $4,000 has been PAID In cash.
Average dividend on original stock, IT is
said, has exceeded 10 per cent.
Worsted Goods Report.
The governmental statistics on wooliens
sni woreted goods, showing the details oil
the manufacture Of woollen, worsted and
I felt goods and wool hats IN the United
States are shown in a preliminary census
bulletin Just Issued The industry was In
- Palas products, ranked as tenth In the
3 eensus year list In 1893 there were 9S es-