New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-04-23
BRIEF NOTES OF FINANCE.

The Department Of Commerce and Labor
has Issued figures covering the mporta-
ton OF teas into the United States for the
last eight years The report gives the in
terestlng comparison between Chinese and
Japanese contributions and shows how rap
Idly japanese teas have come into favor
In this country. We now buy a great deal
more Japanese than Chinese tea. In 1901
Chinese tea imports exceeded Japanese by
more than 100000 pounds. but in 1906 the
Japanese teas were IN tho lead. In 1911 the
aggregate receipts OF japanese teas exceed
ed Chinese shipments by 80, 90, 4S6 pounds
There is an improvement in the tendency
toward protection for security buyers. who
heretofore have accepted the colored state
ments Of underwriters on their offerings
One OF the largo investment houses IN the
Wall Street district has taken the initiative
in sounding the consensus Of opinion among
other high grade houses as to institutng a
new order of things This reform. IL car
ried into effect will eliminate the faring
advertisements Of new issues unless facts
without the coloring of fiction are pub
lished, and the howery circulars with mis-
is planned to provide fund of 10000 as a
guarantee that the salary OF an expert in
vestigator. at $1,000 a year. will be paid
Such a movement will he productive Of
safety for the security purchaser. as every
bond buyer will know exactly what kind OF
bond is offered and all about its underly-
ing security.
The RaltiDoora &. Dh{o ba ~
improvements to the extent of $4,000 0oo
When the work IS completed the road will
be able 10 handle I 200 loaded freight cars
day instead Of a maximum of $40 cars,
the present capacity. The changes along
tho line. according to President Willard.
have been necessary and have followed the
plans OF the best engineering suggestions.
Three tunnels have been eliminated and
open way provided along the road in
sections which formerly caused congestion.
For a stretch of practically 200 miles curves
have been Strengthened and grades reduced
10 allow an efficiency of train haul The
curves Strengthened varied from few
hundred feet 10 many thousands OF feet.
On May New York City will open bids
for Ss5 00o. 600 ~ per cent f1fty-year bonds.
which will prove a most interesting test
of the municipal bond market. Twenty
million dollars of these bonds will he for
new subways and s45.ooo0 90 bonds for other
purposes AS the city has not sold any
bonds for more than a year. the authori-
ties believe the municipal bond market is
in good condition and open for good offer
ings. The New York City per cents are
now selling at par. and on that basis the
new bonds should bring a premium.
There is little to encourage belief that
the cost Of living will be reduced in the
near future. Wheat is going up, meats
are going up both by the law Of supply
and demand and some outside assistance,
cotton is going up. and the middleman will
do the rest with other commodities and
necessities so the economic reformers have
a hard job ahead in trying TO hold the
prices of commodities within the reach Of
ordinary mortals.
Marshall Field & Co, who 10 the largest
drygoods business in the West, report ex-
ceptionally good business in many depart
ments with scarcity in many lines OF mer-
chandse for immediate delivery. They say
trat increased cost of raw materials and
advanced prices on prints. domestics, etc,
all combine TO influence buyers, and last
weeks road sales exceeded all records for
a corresponding period since the great de-
mand for goods in 1907.
The April earnings Of railroads as re-
ported yesterday for the second week OF
the month show favorahly as compared
with a year ago. The Chicago Great West
ern. Cincinnati. Southern. Alabama Great
Southern and Georgia Southern Florida
show increases for the week ranging from
4 per cent TO 10 per cent. The Mobile &
Ohio. which has been affected by food and
other unfavorable conditions, shows de-
crease Of IL per cent.
A proft-sharing plan has been announced
by the United States Rubber Company,
which provides for distributing the common
stock at S45 n share among employees re-
ceiving salary Of q 300 year and above.
Stock 10 be paid for in instruments OF not
less than 81 a share a month. In the event
Of an employe remaining with the COM
| pany for five years with satisfactory ser
| vice and retaining his stock he is guaran-
! teed a cash payment Of IS a share for each
! Of the coming five years. At any time a
| subscriber may cancel his subscription and
! the company will refund all he has paid
! together with per cent interest In case
| Of death during the FIVE years the subscrib-
| er's family will receive the same benefits
| he would have received had he lived
| Colonel Samuel r. Colt the president Of
the United States Rubber Company. be
lieves the plan will stimulate added interest
! by employees IN the companys affairs and
work out TO the mutual benefit Of both par
| ties
According 10 The London Economist"
the estimated industrial loss from the coal
strike in England will reach 100000. OF
this vast sum the greater portion will fall
o.. the poor, who had neither the means nor
the space 10 keep a plentiful supply OF
coal beyond current needs.
The EXPORT trade of the United States
for the month of March shows an increase
Of $4,000 as compared with year ago;
$50 go nO was contributed by cotton ex-
ports.
American Telephone and Telegraph con-
tinues 10 show gains in earnings. The re-
port Of the first quarter Of 1911? gives an In
crease Of 81 10000" in net earnings. The au-
thorized stock issue II this company IS
500 OOO. 900 Of which on December 81 1911
there was outstanding 1918. 100000. AS the
demands increase the company will he
Obliged To issue more stock.
Reports from 523 railroads show earnings
for the month Of February, according TO
figures published by The Financial Chron-
,cIe with gains Of SO. 752. go or lO1s per cent
o. IL, ,,ot