New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-20
BRIEF NOTES OF FINANCE
Paragraphs Of Current Interest
for the Investor.

report from Chicago says that the
80 express companies viii make no
~,9ve 10 Offset the effect uPon their bust
ness Of the parcels post until the gov
.-,r,eut shows what IL can do They
"a NJ the opinion that the government
III take away a greater part Of their
nall package business. but they do not
meet their general service business to
:. affected. which they expect to main
,oin on the present basis. That the par
lie most will eventually be. success is
nnt doubted by the express companies,
hut they predict much public dissatis-
...tion over the use of freight cars by
,bo government The companies main
.o,n that the government will have no
ntber alternative in handling much of
&c new mail matter
Some Dissatisfaction.
The new Clearing House regulations
regarding exchanges on country checks,
3, Is said. have not been received favor
ably by the upstate banks. 1t is main
tajned that the new rule entails addi-
,ional work in sorting out the checks.
and that some system of a central eX-
change such as is in vogue in Massachu-
sa,ts probably will be advocated. At the
annual meeting of Group Seven Of the
New York state Bankers Association.
lately held in this city, this question
was literally discussed.
Changes in D., L. & w.
r,bor. is q run1or in WsU Street that
some important changes will soon occur
in Delaware. I.ackawanna & Western
MANS Although it is said that an al
Jotment Of stock will be one of the fea-
.ures now under consideration, there may
10 other developments more important 10
he announced. Representatives of some
Of the most powerful groups Of capital
lists of the United States are included
in the Lackawanna board. among which
are the First National Bank interests,
the Reid-Moore group, the Rockefellers
and the Vanderbilts.
German Bankers Bidding.
II was reported yesterday that Ger
many has been making bldg for loans
among New York bankers. The apph-
cations are said TO have been for one
month on the average and as high as
per cent was bid. The incident is not
considered remarkable as money in Ber-
lin is quite firm, as usual at this time OF
the year. Last year around this period
Berlin was a borrower in this market.
also in London, and AT that time the
German bankers were successful In get
ting short term accommodate atoms in
New York at 6lA to per cent So far
as could be learned yesterday, no loans
had been made in this market.
New Plan Of Reorganization.
4 new plan for reorganization Of the
Alabama Consolidated Coal and Iron
Company has been announced in Balu-
more According TO the new arrange
ment. there will be an assessment Of $50
share on the preferred and SIS a share
ON the common stock Of the company.
A new issue Of per cent bonds amount
ms TO $1,000 600 is included in the plan
the proceeds of which, together with the
money provided by the assessment Will
be used to pay off the floating Indebted
ness of the company, which amounts TO
SI.15O.00O. Under the new plan the cap
italization will be s7,S69,000, as COM
pared with Sc, $500 as at present 1t
is said the stockholders are expected TO
fie their assent on or before January 4.
To Increase Capital.
Advices from Boston state that the
Maine Central will call meeting OF
stockholders for January 10 act on a
proposal TO increase its stock from sl5,-
oO0. OOO to 100000.
on March 10 next Maine Central has
coming due s12OO0,O00 one year per
cent notes which were issued to provide
funds for payment OF sl5.4s4.OOO matured
bonds and notes, and on April l, 1914
there are 100000 five year coupon
notes payable. Maine Central increased
its outstanding stock in the middle of
1911 by 50.O43 shares and reduced the
dividend from per cent TO 6 per cent.
During the past summer another issue
OF 10000 shares was made. IN 1911
there was an authorization OF S2b,OOO'-
900 per cent fifty year bonds. but none
was sold.