New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-30

Ia MI
from 100000 to $lS,ooo.coo, and the taking
over OF the Garford Automobile Company
viii soon be, completed. II is stated that
increased factory facilities will be added
and a number of new ideas in automobiles
will be brought out.
Names Railway Activity.
Maine is having some general railway
extensions and betterments, The Maine
central IS reported to be at work on an
extension from Foothathers to Kennebec
farm: the Aroostook Valley is extending
from Woodland to Caribou. and other i'm
movements are reported. such as reduc-
tion of grades and elimination of curves
on different lines.
I. c. c. Coal Rates.
., Washington advices say that tie Inter
state Commerce Commission has just
issued an order advancing the date from
August Is to November ! on which the
order of the commission calling for the
reduction of anthracite coal rates over
the Delaware, Lackawanna\& Western
Railroad is to 90 into effect. 1t is stated
that as a result of the complaint on the
part of the Marion Coal Company the
rate reducing order was MADE
Utah Copper Output.
The Importance of the Utah Copper
Mine IS told In its reserves, which repre-
sent the largest known tonnage. About
100000 tons OF ore, estimated, Will in
sure a period life OF over thirty years,
and there is figured to be recoverable cop
per of approximately b,5o00oO,ooo pounds
Butte is recognized as the copper camp.
and is producing one-seventh Of the red
metal OF the world. Since 1888 and includ-
ing this year its production will show
approximately 1000. 100000 pounds Of cop
per.
Money Lost In Strike.
Boston dispatches received here yester-
day state that the total loss by mills for
the several weeks past of the carrying
OH Of the New Bedford strike was 100000
and lost TO them the contract for $780,
Oo0 yards OF cloth, while the strike cost
growers $500 bales In lost sales. The OPP
eratives were said to have lost $4,000 in
wages, and the required strike benefits
amounted to $1,000.
Du Pont Powder Earnings.
An indication Of the soundness of the
business outlook is shown In the Du Pont
Powder Companys reports Of gross re-
ceipts for June which We're the largest
IN its history. and net receipts also
touch the high water mark, having been
exceeded only once hi the past. The
companys gross earnings for the six
months ended June 30 were approximately
$l9 1000, an increase Of $S34.59S over the
figures for the same period in 1911. Net
earnings for the six months were 1885,
SSl, a gain OF s13s6O2 over the net figures
for the first SIX months of 1911. Accord
ing TO those figures. the company has
already earned 81. pei cent on its 49,
1856 of common stock, which is equiva-
lent to an annual rate Of 1Sh per cent.
This is an unusually satisfactory show
ing. according TO official information, as
the six months cover the troubles in the
anthracite coal regions when sales OF
blasting powder declined sharply. The
company's earnings. although large when
considering It's capitalization are In real
ity running only slightly in excess of S
per cent on its gross investment.
Petroleum Statistics.
According to the United States Geo
logical Survey at Washington. the Pc
troeum production for 1911 surpassed the
record made I'm 1910 by an increase or
nearly 100000 barrels. In 1910 the net
output amounted 10 O9557.24s barrels. II
IS said that the total production OF the
world also broke all previous records,
amounting TO over 345Oo0,C0 barrels OF
tod
than GO per cent. The total value of this
output OF oil in the United States for 1911
was estimated at $l34,044, 752, the price per
barrel averaging COS cents, according 20
the figures of the survey.
Some Sugar Statistics.
The decline in sugar In the stock mar
ket Yesterday makes the following, from
Wagner, Dickinson g. Co.. regarding the
refining OF American sugar Of interest:
american Sugar refined In 1910 about
4214 per cent of the sugar consumed In
this country. The company has In tho
last fourteen years paid the government
in duties on importation the sum OF $780,
OOO0OO an average Of nearly S4,VOOWO per
annum. Should the duty be reduced 25
per cent the gain to the company on this
basis would be equal to over 10 per cent
per annum on the $45, 0oo,0 900 common stock
Selling prices might or might not be re-
duced. In any event, reduction OF duties
would hardly be a calamity Some cor
roboration OF this 10 found in the re-en-
trance OF Havemeyer interests into the
field with a new company on the eve OF
tariff reform. We continue TO favor pur"
chases of the leading active Issues on fair
recessions."