New-York tribune., 1912-08-25

y wv" .or,e troubles of their own.
The Hard Coal Field.
50, Conditions in the anthracite fields
Ls.S, .-.saut a serious obstacle TO the pro-
wv ~ Of sufficient coal for the market.
p's 'psb The shipments for July broke all
in'ss records for that month, they
r. have been made larger il u ful
W. W. force at every colliery had been
,rsasbIe' ,,,,o,
i'sssnds Of mine workers left the re-
2. Others found employment In other
F.,res Many OF those who quit
-. not returned, and at one colliery IN
!. scranton district there has been
.,,,ase Of 80 lsborers ever since the
Sspsnsion-
ru,aly in the summer the mines are
.,r.,sd Oh q part time basis. This sum-
., boweyer as a result of the severe
-.,,ber last winter and the suspension
!, mining for almost two months in the
ling. the mining companies have kept
(. collieries in operation six days 4
-..k whenever they could get men to
,,rk Holidays, which are observed In
r.at number by the foreigners who COM
asa the majority of the mine workers,
ave interfcred with the steady opera
an Of the mines and have had a consid-
,.bls effect upon total production.
On the Wabash.
+, their last review Hayden, Stone &
>. have the following on the Wabash:
@shsrbolders Of the Wabash Railroad
m hardly expect TO find what may be
armed good earnings when the company
,r,,, its annual report. With the road
,ner.,ng under receivership the problem
!. mt 10 make any immediate showins'
,ut 20 place the property in physical con-
,,,,o5 10 permanently benefit by traiho
rvytt
thus there VIII doubtless be a deficit
vorted for the late year. Inasmueh as
b existing Wabash company. because
, unpaid coupons remain as much ah
sagation Of the company as the prin-
sal OF its bonds, will continue TO charge
, refunding and extension bond interest
, income account, even though such In
rest is not beins paid. the deficit as re-
,red for the year will probably amount
as much as 100000 But as there Is
corresponding depletion OF cash by this
.srge for bond interest, the detcit Will
largely nominal.
The amount OF approximately sGop,Vp
hieh has been secured by the receivers
4 applied, or is yet to be applied, TO
s,t.rnent OF the system slightly exceeds
q whole amount Of such expenditure by
x company during the previous ten
ears.
Results are not yet showing in the
Tabash's monthly statements because
Is work necessarily interferes to a con-
iderable extent with volume OF traffic
I'd With transportation cost Oh same.
In the matter of maintenance work tho
ceiyers management has also been ac-
e In the twelve months ended June
! the maintenance expenses were sOO,@
nre than in the previous year. although
rOss earnings we're sl,50o.0N less.
When the reorganized company is
.zdy TO operate il will have an excellent
-operty and one that should be able to
-Oduce good railroad results from the
tart. One important advantage is that
hs millions now going into the Wabash
sai do not represent in part the making
,ed of neglected maintenance OF the
rpperty In the past, as a good many
'asds going through reorga nization have
pnd It necessary TO do. The Wabash 9
,sE capital win represent additions pure
y such as new shops, second track ana
ssipment, or actual improvements, such
4 heavier rail and hallasting."
Union Paelfie's Strength.
In the news bulletin OF August "a
thompson, Towle & Co. say:
A story is being circulated in Wall
'seeL which seems TO be credited in
sany quarters. 70 the effect that the
Tron Pacific Railroad is considering the
aNsability Of selling 100000 new
'cnds. The story is absolutely without
o9ndatlon.
One OF the best features of the forth
aiming Union Pacific annual report Will
= the company's strong financial posi-
iea. Not only will 1t show that the road
q very well supplied with cash and work
ng capital but that the accumulated
pront aud loss surplus represented by
ash and hquid assets amounts 10 ap-
'foximatsly ;a10o,cpo, which is eQuiva-
nt to So per share Of Union Pacific com
non stock
July Excess Of Imports.
considerable unfavorable comment has
'ssn expressed regarding our heavy in
'tsse In Imports and the unfavorable bal
.he resulting In reference TO this point
nsfry Clews & Co. say that our mer-
.ondlse exports in July amounted TO
@'soea or $4,000 more than a year
y. Our imports during the same period
soned Sli861, ,0o), or $3o,500,0oO In excess
st year This latter increase caused
= excess OF imports for the month OF
ssse0' compared with an excess Of ex-
Np year ago of Se,640.00o. So sudden
.NVefssl Of our foreign trade situation
.'sy unusual. II will be noted that our
,'sors we're very heavy in spite OF the
-'ahing tendency in breadstuff ship
1s The striking feature and the only
'Sm FOR this remarkable change In
- Trade balance was the tremendous
aassse Of over $50. 10000 in imports, due
Wy TO heavy arrivals of rubber. coffee
"a copper, tin. hides, etc. In other
.u" high prices are having their ulti-
~ ELECT in drawing larger supplies
~ ~ sproad. II continued. this tendency
-aaVe an unfavOrabIe effect upon our
ssn exchanges and might check the
-1'o for our investments; but 1t should
!, snembered that the season is near
80 We ship cotton in large quantities
- Tue nrahl Ifftef.a .Ra that VIII