New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-23
BRIEF NOTES OF FINANCE
Paragraphs Of Current Interest
for the Investor.

Paragraphs OF CuTTeill illteTtSI
for the Investor.
Queer days these. Washington advices
=, that both houses OF Congress had to
s-oc,icaIy suspend business while walt
- for ouorums Of congressman and
s",ators TO report, and Mayor Gaynor
:" soid 70 be against having real de:ac-
To- uke Burns in the ROsenthal case
nj don't know about Congress, but
,,,,rrs might be employed TO And out what
q the matter with the stock market.
q. & o, Earnings.
vo- the month Of June the gross earn
=. - the Baltimore & Ohio were S3l4,-
go showing an increase of SS53,l2t. The
-, earnings for the month were S,4I4,5i6,
AZ I'd, ~ S2l2. 7SS. Gross earnings for the
'..o- .nded June 20 were ss2,6st,S23, an in
sssoase OF 81. 44s,6ls and net earnings were
90 "a rs, an increase of s2.5o6,S4s.
California Benefited.
=. Dc estimated that practically 100000
,,sar will be saved 10 California ship
IS nv the reductions ordered by the
Tntsrstate Commerce Commission in eX-
press company rates
R.ceivership May Come.
r IS now reported that the necessary
=, noo nno 10 satisfy New York bondhold-
~, - ~ the Denver. Northwestern & Pacific
e not been raised in Denver. and that
- -oad may go into the receivers hands.
-o,yar interests are working on new
-.n,os,,ion 20 save the road, but the plan
= nrocess Of development has not yet
been announced
PAPER and Pulp Industry.
rsport IS In circulation that the Grand
RINK road is planning to build up pulp
a,d paper industry on the Winnipeg River
T,sre Is natural water power there, It is
.aIS capable of over 5000 horsepower de-
vsiopment. and the timber lands embrace
hundreds Of thousands OF choice spruce
acreage.
Some Copper Figures
Copper gossip states that the exports OF
conner for the first six months OF lsl3
we're r9,O4 tons, compared with l5SV'4
IONS IN 1911. The imports for the half
vsar OF 1872 were $500 tons as against
"a zoo tons on 1911 Exports for the frst
half OF July this year total 1880 tons Inc
total Of stocks OF hand on July IS this
year amounted TO 35,,4O tons; the total
visible supply was $3.50 tons. The stocks
In Rotterdam and Hamburg were estimat-
ed al $50 tons. New supplies for all
Europe were 1880 tons, and total deliver
les for all Europe were 1870 tons.
Western Pacific Contract.
The Western Pacific has let contract
for the construction of the Anal nine and
cne-haIf miles OF permanent trackage. II
is over q stretch Of territory near Proc
ter, New, known as "Arnolds loop. Al
the time OF construction Of the Western
Pacific lire that part Of It from point
four and one-half miles west OF Proctor
IN Proctor was constructed only as tenn
porarv track and bore per cent grade
With the additional money secured through
q bond issue Of the Denver & Rio Granle'
the controlling road, few months since
work on the loop was authorized. AT
nold's loop" will be a series OF loops oy
which the present grade Will be reduced
10 rer cent With the exception OF the
Proctor part OF the line, the Western Pa
elf, ha. grade Of per cent or less be-
tween Oakland and salt Lake City.
To Hold Convention.
Tho organization committee Of the pro
noss4 Investment Bankers Association
will call a convention 10 be held on the
afternoon Of August In New YORK ely,
A. the Waldorf Astoria, with the We" OF
forming d high grade organization when
viii have for rs purpose the oet,eETn.hI
Of the Investment banking business. Judg-
ipc fv-1, the extremely large number Of
-.s-o-sss which the committee has re-
eeivs5 from, bond houses and banks "iJA
local bond departmerts al over the coan-
try. 81 Is thought that the meeting WI. ne
a very interesting one and well attenaeo.
II IS also believed that the new associa-
zion which will be formed al that time
vi start out with AN impressive repre-
sentative membership.
Record Of Prosperity.
.Ae Imperial Steel and Wire COMPANY.
Limited. Of Canada, has announced a
par cen, stock Dividend and another diFi-
lend Is probable, according to official state
yoent. before the end Of this year. This
company recently increased its preferred
: per cent capital stock for purposes OF
and betterment.
The Imperial Steel and Wire Company
began operations in Collingwood. Ont, IN
a modest way about six years ago with
only a score OF workmen on its payroA
and an output of about hvN tons OF fin
,shed wire products daily. Now the pay
roll carries the names Of over two hun
dred workmen, and the output is fifty
IONS daily. A large number Of the en-
p,oyes are stockholders, and for nearly
ave years the wheels in the big mills
have turned steadily day and night, ex-
cept on Sunday.
Advance Telephone Rates.
Tn. new Commissioner Of Government
Telephones in Manitoba has filed new
schedule OF rates for telephone companies
which shows an advance for the COM
panies Of % per cent, The rates charged
by phone companies are all on a yearly
basis and not by measured system as
I'm New York. The new schedule has to
be approved by the Public Utility Com
missioner and objections by subscribers
will be considered before finally taking
effect
Denver E. Rio Grande.
On July II vice-President Brown OF
the Denver & Rio Grande Railroad
awarded TO various car companies for de-
=, -. L., ,o,tracfa for