New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-22
BR|[F NOTES OF FINANCE

BR|[f NUl[0 Vi lnSHlVUl
paragraphs of Current Interest
for the Investor.
IL. Attorney Whitman, it is re-
Di'.,'o ill offer a reward for the Ro-
'GOT'eo fupitives from justice. Good plan.
emu" oner a reward for the return of
or bull market.
prygOods House Incorporated
80 drveoods house known as Will
Tsnores Sons Company. has been in
An arotcd under the state laws of
eo'pacbusetts. with an authorized cap
- a On0e0 The Z per cent cumula-
RAi srst prcferred stock takes 100000
~. Capitalization. and the per cent
o. u'S nreferred stock $.OO0,OOO. The
~n,on stock also has S,C0,@o. The
mnany has Just completed the erection
large new drygoOds store In Boston.
pittsburgh Coal company's Plan.
rs.,shurrh advices say that the Pitts
~ Coal Company has a new financial
W. IN prospect, which IS expected to be
,.snn ND by the Union Trust Company
'. ,he smoky City. The plan provides
.ha retirement of the preferred stock
and settlement of the companys back
.,-Sso,ds The information is that the
s.u announcement will be made within
me next sixty days.
United States Third.
According 10 consular and trade reports
~. Trn,ted States is the third largest
- NJ Swiss products. being exceeded
~ nv the United Kingdom and Ger
Inv Exports 10 the United States de-
"rsased nearly 100000 in 1911, as COM
s.-od With the previous year. while those
,ha limited Kingdom and Germany in
...ossd The export trade with France.
-.S,ch Is the fourth largest importer Of
eaIs. merchandise. remained about the
same.
The United States occupies seventh
xos,,,on IN the list Of countries contribut-
inc 10 the import trade of Switzerland,
With a little over AZ per cent of the total.
Germany comes first, with 81 per cent;
t,-onca second. with 10 per cent; Italy
third. with 10 per cent: Austria Hungary
torr,h. with per cent; United Kingdom
A,,h. with less than per cent, and Rus
ella sixth. with per cent. The percentage
A. increase in the value of imports from
the United States for 1911 was greater,
however. than that OF any of the coun-
tries whose trade with Switzerland eX-
ceeds that Of America.
sIts,S50,0oo in Dividends.
The Calumet and Hecla Mining Com
many will have given TO its stockholders,
after the SO dividend just declared has
been distributed. s11sSSo0O0 in dividends
since the formation of the company over
forty years ago. The Calumet and Hecla
nine proper includes approximately $50
acres in Houghton County. Mich, and Is
said to be one Of the largest producers
N the world. Recent dividend records
show that in 1908 $50 per share had been
dIsbursed in 1906. $50: in 1901. $65: in 1905,
go; in 1909, SGT; in 1910, s29; In 1911, s2i.
and In 1912, $50, which includes the pres
ent dividend declaration. At the annual
Meeting more than half of the outstand-
INK shares were represented: $685. shares
o., Of 10000. The old board of directors
vas reelected. The date Of the annual
melting. formerly held on the third
Wednesday In August. was changed TO
lie second Thursday in June The rise
IN Calumet and Hecla TO $3.50 per share,
an advance Of $50 from the low OF last
week. was the interesting feature of yes
terday's copper share market in Boston.
The stimulating factor yesterday was the
declaration Of the $l2 quarterly dividend
Calumet closed at 5j5.
Iron and Steel Reports.
The iron and steel situation is covered
by The Iron Age" and The Iron Trade
Review" for the week, and the reports
sull show continuous Improvement. The
Iron Age says:
NEARBY rather than further future
needs Of buyers are stu the dominating
factor I'm the finished steel situation. In
pig iron, on the other hand, current buy
ing is largely for the first quarter OF 1913.
TT should not be overlooked In the spec
tscular way In which premiums for quick
are reported in some quarters
and emphasis put on the pressure upon
the mills, that deliveries TO consumers are
very heavy and that by far the greater
number Of them are getting material as
needed. There is definite effort by some
important producers to eliminate pre-
fniums and to keep the situation within
bounds. Thus far there are no indications
that this cannot be done
Contract business for forward delivery
IS rather more Of a factor than In mid
summer, and much of it is for car build
ers Canadian car company has placed
5000 tons of plates and shapes with the
steel Corporation IN the last week for the
{ 90 cars recently bought by the Canadian
Pacific Deliveries run TO May. 1913. West
ern car works have been buyers Of a
round tonnage also. and further reserva-
tons have been made 10 cover cars under
inquiry. The Baltimore & Ohio is expect
ed TO buy large number Of cars; the
Pennsylvania also. There is evidence that
car buying has been greater than reported.
Buyers are not putting up prices on
each other by attempts to anticipate dis
iani future needs; the advances are com
Ing from the other side. and at the recent
rate will produce a wide gap between
The low priced orders now going through
he mills and the new contracts for 1913
Yet some steel companies will sell at
present prices for the first quarter OF next
year % manufacturing consumers.