New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-05
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.


No, much use trying to awaken inter-
oct IN the stock market, with national
coIf championship In Chicago, the Presi-
son, laid UP with a sprained ankle and
tho police graft investigation still occu-
nving the public mind. Always something
these days
Wabash improvements.
The Wabash Railroad has just perfect
ed plans for new locomotive plant at
Decatur, H.. according 10 reports from
chicago which will cost $4,000. 1t is also
stated that the company will eXpend $780,
40 for terminal yards, car shops and
freight houses at Detroit. Contracts for
riuety-one locomotives have been award
ed.
English and Scotch Pig Iron.
shipments OF iron from English and
Scotch markets from January TO August
= this year totalled 3SS,527 tons, COM
pared with 967,7ll tons for the same
period last year. During June. July and
August this year. however, there has
been an increase by comparison OF over
900 tons, and on the total for 1912 indi-
cations are that shipments will be con-
siderably ahead Of 1911.
Morse Transportation Company,
G.. w Morse has made arrangements
IN New York for Offices at No. 4S Ex-
change Place He is reported. under the
name Of the Morse Securities Company, to
be forming a new steamship organization
10 be known as the Morse Transportation
Company, which is expected 10 be link
IN a system TO cover the Atlantic Coast.
The initial line. 1t is understood. will be
between Boston and New York, with fast
steamships similar to the Harvard and
Yale. which formerly covered the same
route. Morse is said TO have sufficient
capital pledged 10 finance the undertake
ing The Morse Steamship Line will also
inaugurate a service between New York
and New Orleans in competition with the
Southern Pacific. j. r. Rowland; who. II
is said, will be the general traffic man
ager. has been in New Orleans arranging
dockage and other details. Mr.. Rowlaid
was formerly manager OF the Atlanta,
Birmingham & Atlantic Railroad.
The Money Outlook.
In an editorial paragraph I'm it's August
=
crs the prospective money conditions as
follows:
There has been some discussion this
week as TO the need OF the United States
10 import gold in the fall. We deal with
this question under the heading OF Amer
team Topics, and there point 10 the great
sum Of idle money in the American Treas
.ury which doubtless can be utilized for
the purpose OF providing the currency
needed 10 move the American crops. II
Germany and Austria succeed in obtain
ing relatively large sum Of gold in the
next few weeks and the American Treas
ury sets free a considerable amount OF
cash the world will get through the COM
ing autumn without very high rates for
money. OF course. an advance in the
bank rate 10 4 per cent and even TO
per cent, may become necessary in order
TO induce the Secretary OF the Treasury
10 place cash on deposit with the national
banks. But having regard 10 the great
activity OF trade and the profits that are
now being gained in all kinds OF business
such a rate is not likely TO have any ad-
verse effect upon the course of trade or
upon markets"
Sharp Advance in Steel Prices.
Pittsburgh reports that the market for
unfinished steel has advanced sharply
during the last few days. Orders have
been booked and transactions completed
which have netted the seller more than So
at mill for open hearth billets, and open
HEARTH sheet bars have been quoted at
g., mill price. The price advance is 81
above week ago and about s. more than
could have been received thirty days
since.
Platinum Production.
The United States Geological Survey re-
port shows that California and oregon
mined 62S ounces Of platinum during 1911,
which was the totsl amount produced In
the United States. In 1910 only go ounces
were mined
lmportations in 1911 Of crude platinum
sands resulted in an estimated refined
product OF 1900 ounces--nearly four times
the domestic production. The imported
platinum in 1911, including ores and manu-
featured products. was valued at 81, 1876 POI.
an Increase over 1910 Of sl,2l26i5.
The average price paid for platinum in
1911 was SOS 81 an ounce. compared With
81 q in 1910.
Gold Production Figures.
The production of gold in Australia and
New Zealand during the first half of 1912
amounted 70 over $4,000 fine ounces.
During the same period OF 1911 1895
line ounces we're produced Following is
comparison Of figures showing the pro-
auction in the several districts as shown
IN THE San Francisco Chronicle:
1911 1912
Victoria ................- 25i, g45 22s 9s5
NeW south Wales. ....... Ss.SS2 u.s. COS
Queensland .............. Is4,S 41 I7O.354
Western Austrslia....... G72, $50 GU s47
south Australia ....... 600 400