New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-11
EBRIEf NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

Paragraphs of Current Interest
for the Investor.
paper bets on Presidential probabilities
IN the financial district, Oyster Bay hot
,hot, a lot of bears in the stock market
and continued hot weather should be a
bull argument on summer resorts. mo
where to 80 but out"
n, Some Good Buying.
Y II is reported that the General Electric
4 purchased 100000 pounds OF copper in
S tuesdays break in the London market
n true, this shows the tendency Of some
of the largest consumers of copper and
places a real value on the metal. 1t would
further show that the decline OF copper in
london will probably be followed by rapid
recovery from the low quotations. With
the decrease in copper stocks during June
in Europe and the United States, the
worlds visible surplus on July is said to
represent practically twenty-five days sup
ply Of the red metal
Passed a Resolution.
A direct resolution stating that COM
mittee be appointed to look into the ques-
ton Of future trading in Canadian bonded
wheat and a report be made of their find
ings was passed upon by the members OF
the New York Produce Exchange grain
department at meeting on Tuesday after
noon. AS a result there was considerable
criticism heard because when the meeting
was called no one stepped forward to at
tempt TO outline the existing situation OF
10 propose remedial measures. At the
present time there Is a good foreign de
mand for Canadian wheat, considerable
amount Of which is shipped via American
Atlantic seaboard ports, but owing to the
absence Of a market in New York, 1t is
said. exporters are unable to hedge" Ca
madam bonded wheat stored at Buffalo,
except in the Winnipeg market.
Derived from Dividend.
TbA recent increase of the Nashville,
CHATTANOOGA & st. Louis dividend from 6
ner cent TO that of seven means about
s-o 900 per year to the Louisville & Nash
vile. which apparently does not In the
least require the money The latter road s
earnings. II is said. were equivalent last
wear to almost, if not quite, 10 per cent
upon its So 10000 stock, Of which the At
Iantic Coast Line owns a little more than
half Last years record was the roads
best one with the exception Of 1910, in which
Louisville, earned 1875 per cent. The ex-
ceuent Increase in gross earnings OF Louis
vie IN May, of more than per cent, is
quite likely to be duplicated in the June
/. figures The June net earnings, on &C
80 1lrz fAr hn anti ire
year. are always uncertain, but it is esti-
mated that Louisville's June net should
not fall much within $4,000 and as the
per cent dividends on 100000 call for
only $4,000, Louisville has been able to
appropriate all or any part Of $OOo,Ooo out
Of the past years earnings TO important
Improvements.
Has Agreed to Pay.
The international Agricultural Corpora
;tan. It is said, has agreed 10 pay the n OF
per cent secured debt tax in New York
Il state and the four-min Pennsylvania tax
on It's new first mortgage and collateral
trust per cent twenty-year bonds or
which S3OOO,cOO out Of the total authorized
issue Of 100000 have been sold Half OF
the present issue was used to withdraw
floating Indebtedness. According to official
estimates, il is stated that on June 3o'
1872 bills and accounts payable amounted
10 approximately sl,70O,OOO. against which it
had current assets Of s., 80, 900, leaving net
assets Of approximately S,55o,o0.
More Equipment Orders
The New York Central 1t is reported. has
3uyt purchased twenty large locomotives
'frurn the American Locomotive Company
, II is also said that the Canadian Pacific
has ordered twenty-five locomotives from
the same firm, which order will probably
be filed at the Schenectady plant, as a re-
suit Of its Canadian plant at present being
filed with orders. The Virginia Railway
Is in the market for twelve locomotives
This road has quite recently placed an
order calling for fifteen engines.
Illinois Csntrars Position.
The current earnings Of the Illinois Cen
. tral seem 10 justify the action OF directors
, IN declaring the regular dividend at the
;:recslt meeting Of the board. The May
I. reterg1s In gross and net earnings made a
.Sfayofabls comparison with year ago; the
loss in gross was Sl4,ooO and net loss was
1900 The business has been showing
slight Improvement, and damage by floods
Is said to have been practically repaired
and operating expenses are back on a nor
nal basis.
Many Men Employed.
Reports from the city Of Mexico state
that more than fifteen hundred men are
now engaged on the construction Of the
line Of the National Railways Of Mexico
The line is to run between Tampico ana
Vera Cruz. with q branch line TO point
ION the old Honey road, the latter piece OF
eonstructon 10 form a new short line be-
tween the former port and the capital OF
.ihs republic The Tampico- Matamoros hhe
will connect with the st. Louis. Browns
Vile e. Mexico at the bridge which spans
the Rio Grande, joining Matamoras ana
Brownsville, Tex.
Reports further say that the Mexico
Union Railroad has practically completed
the construction Of the first twenty-seVeh
miles Of its line lying north Of La Colorado,
In the State Of Sonora, and this stretch OF
track has been officially approved by the
government engineers and is shortly TO be
placed In operation. Construction Is saiu
10 be in progress on the remainder OF
s,the. line that is TO run 10 Ures. ana II
Sis thenght that all OF 1t should be finished
og the end Of this year.
NoIunne Showing increase