New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-28
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

Advices from Philadelphia are to the
effect that the Midland Valley Railroad
company will probably default. in princi-
nal and interest, on its per cent gold
roupon notes due December 1. 1t is stated
mat a protective committee has been
sorred in the interest of the holders of
these notes and Of the prior lien mort
gage gold bonds which have a coupon
falling due on January !.
Denies Any Connection.
last week a report was current in Wall
street and published in The Tribune that
an. Passaic Metal Ware Company is be-
ing developed by the American Can Com
many. Considerable prosperity was at
,r,huted to the company, which the presi-
dent and treasurer, I. W. England, does
,,ot deny. but he does emphadcally state
,n.t the Passaic Metal Ware Company
has no connection, either directly or in
directly. with the American Can Com
Many He says that the company is a
close corporation and has built up its
rsrge lucrative business as an entirely
;pdopendent concern. Mr.. England IS
confident that any information sent out
which would tend to connect his com
many with the American Can Company
would be detrimental. He says that
esther he nor his associates are inter
sstea in the stock market in any form
As regards the prospects Of the country
generally Mr.. England believes the out
look is most encouraging.
Less New Steel Business.
Soma REPORTS from Pittsburgh indicate
that this week is showing a slowing down
~ new business offered in the present
finished steel products. The demand on
the mills for delivery OF materlal already
ordered is said to be as heavy as Tor
,,orlv. and some advices are that the
d.roand is more insistent. The general
attitude Of steel producers seems TO re
one Of optimism, at least for the nrst nan
Of 1913. Taking the whole situation the
stesl business seems TO be in very pros
porous condition.
Subsidiary Statements.
II the plans as suggested at the tune
~ the dissolution Of the Standard OH
Conpany Of New Jersey are carried out
lions now separated from the parent com
many. e viii not be long before some ON
ciaI statements will be Forthcoming re-
sard'ng the financial operations and In
dividual standing OF these companies
In 70 the present time information re-
gardIne the financial status Of the several
companies has had limited distribution
The interests in close relation 10 the
Standard Oil Company now say that Pc
rlodicaI statements may be forthcoming
after the first of 1913. The aggregate
earnings Of the various Standard OIL
roDnanies this year, is IS estimated
win be approximately Sl0WOoV. Inc
companies have shared in the prosperity
NJ 1912. as there has been heavy demand
for petroleum and by-products
United Fruit Company's Earnings
BOSTON is a distributing news centre for
Information regarding the United Fruit
company. and bullish reports are oeins
sent out regarding the company's net earn
mrs for the months Of october and No
,..rober reports of which have not been
published. 1t is stated that the COM
ANY this year produced 50 per cent OF
line fruit II imports into the United States
and Europe from its own plantations
This is figured out to show that the proHts
will be considerable and that earnings
will probably be very large on the new
stock. which was recently sold to stock
holders at $50 per share.
Preferred Dividend Prospect.
Unofficial reports say that the directors
Of the American Brake Shoe and Foun-
dry Company will place the preferred
stock on an 8 per cent basis IN March,
1913 The charter Of the company pro-
vides that after Z per cent per annum
has been paid on the common, directors
may authorize out Of surplus earnings
further dividend on the preferred. Both
the preferred and common stocks have
equal voting power. The company has
paid its full per cent on the preferred
since it's organization, and has paid diVi-
demos on the common since 1902, when an
initial dividend of l per cent was de-
clared For the three last years, 1910
'n-12 7 per cent has been paid on the
common.
EleotroIytio Copper Easier.
II was said yesterday that some cutting
OF prices in electrolytic copper has been
announced. The demand is reported 10
be very quiet, owing TO the foreign war
situation, and domestic buyers show an
inclination 10 hold off until after the
producers reports for November have en-
tered the market for the early 1913 TRADE.
Exports for this month up to yesterday
show a total of only 33.350CO0 pounds,
which IS largely due, It is said, to tho
congestion Of water freight facilities. The
small total Of exports indicates quite an
increase in surplus stock, according to
some estimates around 100000 pounds.
II the war situation should improve, the
foreign demand would probably show
considerable increase, as it is said neither
the foreign nor domestic consumers have
purchased very far ahead
All Signs Encouraging.
Frank A. Vanderlip. who has returned
from an extensive trip through the SOUTH
west. said to The Tribune yesterday that
throughout his trip he found remarkable
cheerfulness among the business interests
due 70 the splendid condition Of trade
everywhere
The manufacturing interests OF THIS
country are in a splendid condition. Our
wonderful crops, the spirit Of business
enthusiasm. and a devotion OF business
men to building up trade in every branch
gf GO