New-York tribune., 1912-07-13
BRIEF NOTES OF FINANCE

-
paragraphs of Current Interest
for the Investor.
,,., 1orinner making dramatic efforts TO
a,,ze the Senate, Roosevelt stirring up
NY ny ID ~ bull moose, and the Americans
1hs ,-,,,rg off the Olympic game honors, how
an any one pay any attention TO wall
street?
Rise in Steel Chain.
-r.. different steel chain manufacturers
ironorted. have just advanced the price
u s,.s, chain 81 a ton, thus making the
~ available chain SO Is a 100 pounds.
pli.' onnarently is the second rise of 81 a
s,nce May l OF the current year. The
'On ~ this immediate advance is said to
~ originated shortly after the last cd
.once in quotations of steel oars lrom
a.. the chain is made. Bars have been
q aSyanced from SO TO 81 ton since the hrst
70, the present year
crucibIe's Present Outlook.
4. far as can be legitimately estimated,
:. sajd that the earnings OF the Cruciole
GO, company of America for the fiscal
- ending with August of this year VIII
~ about 10 per cent on the preferred
..ocr and 7 per cent on the common after
,o,,,ar payments on the preferred are
u. For the last quarter OF the year, or,
thor the one beginning with June OF the
ssont YEAR the earnings are reported TO
s - r,,nning at the annual rate of about Is
.sar cent on the preferred. In view OF the
-. that the company owes 10 per cent
- aocrued dividends on the preferred stock
Z - en- ;s but slight chance for the common
us.6oL 70 reap any benefit this year Should
a ..o,a,,t conditions continue, however, there
q sorne hone Tor the holders Of the common
- - ravt wear. The Crucible Company, II is
or,e5 is I'm a better financial position at
.rnso,t than at any prior period in It's MS
-. The YEAR ended with August 1910
- tho hest up to that period, according
~. records. showing net earnings or
- zoo $50 hut this year, It is thought may
even exceed those figures. -
Indicate Good Showing.
,.,or,s saw that the present Operations
49, American Steel Foundries Company
running between 75 and 50 per cent OF
+saar,c,tv or al considerably higher rate
y 49,. At any other period since the fall OF
4,o7ose All works are said to be active except
~. rIsrt al Sharon. Penn. The earnings
g. sbs first six months of 1912, 1T is Thought
,rora much better than those for the corFe-
spondng term last year bur as 'ne lsu'e7
~. not vet available, no exact comparison
csn be made at this time. however ~ -
expected that detailed statement VIII oo
issued in the latter part OF August
Shows a Deficit.
While the six months report OF the Lack
swanna Steel Company, which ehoeu WIN
1une shows a deficit Of &65'Z2o over tle
same perlod of 1911, the second nan Oh 'le
sy months showed much better thah 'he
frst For the last three months recoroS
show surplus Of SS5,546, as compared win
a deFeit Of s45O772 for the first three. Inc
, ,n,sl income of the first six months Oh
,g9 were 8. 200, 81, as compared with 81
es sfo for the first six months or lSll. Inc
/. considerable decline was caused by heavier
charges for exhaustion Of mineral ana
other depreciation charges this year thah
last
The estimated tonnage on hand at the
end OF the first half Of the year totalIeu
S4.ss) gross tons as compared with Ao''
Ssl gross tons for the first half Of 1911.
Reports on Crops.
The general report throughout the coun-
try is that crops are in good condition and
t.the Indicated prospects are said TO be the
: bess in some years. There are some ex-
> oetytfons. and South Dakota has witnessed
s some material damage in few OF her
districts in spite Of the recent raintaAs.
Various parts Of Western Minnesota ana
portions OF North Dakota have been VS.
ited by severe hailstorms within the last
fortnight, but in all cases the damage
was limited TO small areas only. The re-
cent rains have been found beneficial 10
the fax crop, and at present 1t is said,
this crop is making a favorable showing
Wheat, barley and rye have now come 10
maturity. and in Iowa the harvesting OF
oats has just commenced. The State OF
. Iowa has over 100000 acres planted in
: that crop, or approximately lSl per cent
Of The country's oat acreage. Various
y doubted reports have been sent into Min
g,neapDis from Jackson, in the southwest
..corner Of Minnesota. that there was al
legged rust in the wheat fields. But 1t is
said that Minneapolis expert grain men do
not take the report seriously, and pro-
nounce it only scare. Taken as whole,
from the good reports received, there Will
be an Increase over last years grain crops,
and the country will have something TO be
thankful for.
No Action Before Fall.
1t is understood that the directors Of
the United States Rubber Company Will
not take official action before the middle
Of September in the matter Of the final
Of the second preferred stock,
Of which 100000 is said TO be out
stanGlng. The stockholders have already
authorized the exchange Of this stock for
first preferred on a direct basis Of four
shares Of second preferred for that OF
three Of the first. At the last directors
meeting, at which meeting the stock divi-
dend was declared, the exchange of the
preferred issues was not then considered
and it was intimated that it would prob
ably not be taken up before fall.
Will Dividend Be Reduced?
The decline in ST. Paul has awakened
= arepewed interest in that road and caused
1, Considerable talk about It's prospects and
!. The possibility OF a reduction in its diyi-