New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-06
BRIEF NOTES OF FINANCE
Paragraphs Of Current interest
for the investor.


ner cent or more payment Of back
.,r,dends will now be busy telling why
a,d not happen and offering encourage
ut for the prospect of better luck next
s,,-ch when the next extra dividend is
expected.
Turning Toward Investments.
weakness In the stock market has re-
,.oad the volume of speculative business,
asicularly the active buying side, but
NC of the unlisted investment houses
esnort an increase in volume of business.
This is rather suggestive, as it shows the
,.,dency Of the public toward real invest
.,.,t rather than speculation, during the
-.-1od when the banks are contracting
,osrs and are being called on for funds
% remarkable degree TO finance the re-
.u,rements Of commercial lines. The pub
~ at large has increased its savings. and
sroarently there is an abundance Of
money for subscription TO public offer
,,r, which carry the earmarks Of COM
hned safety and earning power.
Iron and Steel Trade.
The steel situation at the present time,
.ccording to information given by the
trade journals, still continues to be good,
although in spots less active. The Iron
Age" says:
"In all forms of finished material the
,ressure for deliveries keeps up. and in
the Chicago district car and structural
works and boiler shops, as we'll as jobbers,
are more clamorous. Some building pro-
,scts are delayed by inability to get steel,
hut the present level is evidently not an
obstacle.
New car orders include 1000 for the
pittsburgh & Lake Erie and 1900 for the
Burlington. Late inquiries reported from
Chicago are 5000 for the Minneapolis &
81. Louis and 1.400 for the Denver, North
western & Pacific.
'our English cable says that Welsh
buyers of American sheet bars have no.
lice that deliveries promised for Deem
her cannot be completed until May. The
disappointed buyers have turned to Ger
many In vain, and II is also reported that
American buyers have tried to get Ger
man semi-flnished steel. These, like SINH
lar attempts from this country to get
structural steel and plates abroad, have
had no result. European works are over
flowing with orders. and many of their
prices are up 10 or beyond the American
parity saying nothing of freight and duty.
There is no relief from the tightness In
the steel billet and sheet bar situation at
pittsburgh or in the East Forging billets
have sold at s35 at Central Western mill
The contract sheet bar price for the FIRST
quarter of 1918 may be announced this
week"
lowing;
"A new record for daily average pro-
duction OF coke and anthracite pig iron
was made in November. when blast fur
naces made an average Of S.sG tons
daily an increase of 1,074 tons. compared
with the previous record made in Feb
ruary, 1910 Production for November
was 2634,692 tons and for the eleven
Of 1912 it was 2e,543, 421 tons, which
was only SOl ,S5S tons below the entire pro-
duction for 1910. the banner year. The
Of Lake Superior ore by the
lake for the season was 47,425, sol tons, or
nearly 100000 tons more than the move
ment of the previous record year. 1910
The pig iron market lacks snap. following
The extremely heavy buying of last week.
This was probably to be expected. but
those who believe that a hating market
IS a forerunner of weakness are watch
ing the present situation very closely. In
the South considerable tonnage has been
sold recently at s13 80, Birmingham. for
No. ?. although the usual quotation is
considerably higher"
=. AIlis- Chalmers Final Decree.
In a call for the third instalment OF the
stockholders assessment the reorganiza-
ton committee of the Allis-Chalmers
Company announce that the United Dis
trict Court of Milwaukee has entered a
final decree Of sale in the suit 10 foreclose
the first mortgage Of that company. dated
July q 1906. This decree calls for the sale
Of the mortgaged property on February
s. 1913 Holders OF certificates OF deposit
for preferred and common stock are called
upon TO pay by January 10 next IS Tor
each share of preferred and 50 for each
share Of common. The further notice is
given that the reorganization committee
will accept additional deposits of first
mortgage per cent bonds If deposited
with the Central Trust Company prior to
February next.
After much opposition the members of
The reorganization committee consider
that they have won in the courts practi-
caly everything for which they have
fought
Passed Goldfeld Dividend.
The passing of the Goldheld Consolidat-
cd dividend was not unexpected by those
who had watched the statements of the
company this year. Some time ago The
reporter published paragraph
on Godfeld Consolidated and showed
there it was impossible for the company
10 continue its dividend payments out of
earnings, and suggested II not passed the
dividend rate must be cut.
California Petroleum.
Among the stocks around which there
IL considerable speculation regarding divi-
dend rate California Petroleum is at
tracing attention. 1t is said that at the
meeting 70 be held this week per
cent dividend will be declared, although
the general expectation has been that
4 per cent dividend will be the one inaug-
urated. For the first seven months Of this
year the earnings of the company totalleo
$4,000. This would be at the rate OF
Elle,O0O for the year After the payment
OF per cent preferred dividend there
would be a balance in excess OF per
cent. which could be applied to common
dividend. As in all prospective perform
~ N H.