New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-13


IN wreck yesterday morning. Wonder
~ the bears had anything TO do with it.
pidn't work. however Nobody hurt and
the market was strong,
steel Business Expanding.
An evidence of the prosperity OF the
steel industry is shown in the report
froro Sharon, Penn, that the Carnegie
steel Company will eXpend $,O00O00 in
improving it's mills at Sharon, Farrell
ana New Castle. The demand. according
10 an official. is so great facilities. must
be increased.
A Good Distribution.
From Franklin. Penn. comes the IN
formation that there will he a choice cut
Of a melon for the stockholders of the
pennsylvania Fuel Supply Company. A
40 per cent dividend has been declared
lN the company payable in stock, The
company has an authorized capital Of
10000, $4,000 Of which has already
been issued The 100000 remaining is the
part which will be distributed among the
stockholders.
Standard Oil Competitor.
A contract for the construction of ten
steel oil storage tanks and steel gas
holder has recently been placed by the
India Oil Company. a competitor Of the
Standard Oil Company. with the Western
Pine and Steel Company. which it is re-
,portod will involve the total Of $T,350.
These are to replace the present plant
at Martinez. According to the contract,
all work must be completed by December
Il OF this year. The company will then
have three large receiving stations on the
Pacific Coast the one at Martinez, one
at Seattle. which is almost finished. and
the other at San Pedro Harbor, not FAR
from Los Angeles
Advance in Auto Exports.
TIE automobile export business OF
France does not appear to be affected
BY the steady falling off in volume Of
Americas or other countries importa-
tion Of foreign automobiles. Recent re-
turns made in France. according TO Off
cial information. show an increase in
exports for the first six months Of the
present year of more than 100000, and
a slightly improved increase in imports,
With the United States standing firm.
During the half year automobile imports
are recorded TO have risen to the sum of
N,S47,94O, compared with sl,316.94o for the
same period In 1911 There is every rea-
son for the French national industry TO
be satisfied with the volume OF business
being done,
Renewed Use of Copper
Copper has never been a factor I'm the
production OF rails in the United states,
but from present indications 1T seems ap-
parent that copper will be employed IN
the making Of future rails for the various
roads Of this country In case this old
idea IS revived, IT would create a new dc
mand for approximately more than 9Oo,-
coo COO pounds OF the red metal yearly. !
Recently discovery Of few miles Of rails
by the engineers Of an Eastern railroad /
that had outlived the average life Of The |
ordinary steel rails but We're SIN in good /
condition showed the fact that these par !
ticular rails had q certain amount Of /
copper in their composition. Further an /
alysls Indicated that they contained ~ |
per cent. Now many Of the large steel !
corporations are said 10 have orders
booked for rails containing that per
centage OF copper to steel.
Good Fall Prospects.
Harvesting is reported 10 have bccn
BEGUN along the lines OF the Northern Pa
cihc. Farmers are hard at work gathering
in the crops Of oats and wheat, while those
Of hay, rye and barley have been already
harvested. Howard Elliott, president of
the Northern Pacific. states that the crop
prospects along the route OF that com
pany's lines are extremely good. The
Northern Pacific IS stll witnessing a
shortage Of labor necessary for maintcn-
auce and track work. Although the rOau
did a comparatively smaller business IN
July 1912, than i'm 1911, the abundant crop
prospects and general indications OF IN
creased tonnage point to a decided better
ment during he remainder Of this year.
Rubber Syndicate Formed.
The American Consul at Para sends the
following TO this government concerning
rubber in Brazil:
Final arrangements have been con-
Guided between the Bank Of Brazil and the
parties interested IN and forming the syn
dicate organized in 1910 to increase the
price Of rubber whereby the latter viii,
under conditions as yet unknown, take
charge Of ana dispose of same. Th-
amount of rubber held by the Bank Of
Brazil as collateral for money advanced e.
finance the aforementioned scheme II 2, 500
ions l am informed that IL is the present
Intention Of the directors In charge u
this Nquidation 10 dispose of this rubber
10 bona fide manufacturers only, hoping
IN this way 10 avoid manipulation by deal
ers who might be- interested I'm affecting
tho price OF the coming crop. ] am FUR
Their informed that the rubber Is only 70
be sold and shipped from here, as It's
storage in either London, Liverpool or
New York might have the effect or de-
pressing present prices. This rubber is
All OF first quality, being bone-dry and
should OH its merits command higher
price than new rubber.
India and Germany Prosperous.
The London Statist" among its fnan-
,ial notes has the following paragraphs
relating 10 India and Germany, both OF
which give O cheerful view OF money con-
ditions:
We understand that money at present
is 20 plentiful in Germany that German
bankers have been able TO assist power
fully In financing Austria Hungary. AZ
al events, there has been q sharp iall
m the exchange, and hopes are entertained
that il Is only the beginning or more
satisfactory state OF things. Ever since
this time last year the exchange mas Deen
ovOaptfopaI1y high Now the Hungarian