New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-07
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

for the Investor.
portly woman is reported 10 have
held back one Of the North German Lloyd
.teamships yesterday by standing on the
gangplank. Maybe some portly gentle
man is standing on the stock market.
Didn't think Of II before, but maybe he's
holding It back.
Merger Now Complete.
The merger existing between the Mart
ing Iron and Steel Company and tho Iron
ton Iron Company, located in the Hanging
Rock District, is said to be now practi-
caly finished. with tho exception Of
Y-w minor details which will probably
take several days The new company Just
Consolidated will DO known as the Marting
Iron and Steel Company with a capital
stock OF S2,00e.0 00. One of tho chief res-
sons assigned for this merger Is said TO
0e that a more economical operat ton of
the plants in general can be pursued under
the direct management Of a single head.
Increase in Lumber.
The july negotiable shipments OF lum-
beT at the ST. Louis market arc reported
10 be one-third larger than they were for
the corresponding period a year ago This
increase is apparently duo IN large eX-
tent to the alleged expansion In the build
ing trades throughout the cities, towns
and rural districts as a result Of excellent
crop conditions and possibly owing to the
destruction caused by the winter floods.
The shipments OF last month were 12,754
cars. compared with 9.1l1 cars IN July Of
1911. The total receipts OF lumber we're
7G.o23 cars in july, agaus, 1887 cars d
year previous.
Advances Price 81 Ton.
The Carnegie steel Company hsS ad-
,auced the warehouse price on bars and
-,ructural material 81 a ton. II IL said
mat the demand for merchant bars has
exceeded all former records and new bust
ness Is 80 mucn larger IN volume that
mills are not only booked TO capacity for
The present but arc months behind on
deliveries
Glover Leaf Prospects.
The next annual report OF the Clover
J.oaf Will be interesting. as It will show
The trend OF earnings since the 1911 re-
mort III the last report there was small
floating debt shown. and the 1911 fiscal
year LETT deficit OH account Of dividends
raid Of s325, 900. 1t is generally under
stood that the Toledo, St. Louis & Western
has shown some Improvement, but not
enough to warrant cheerfulness. II some
eource Of revenue IS in reserve not in
GUIDED IN ordinary traffic support there
may be a more favorable statement than
IS indicated by surface showing. The
vufnor Is current that T. i. Shonts, as
president, will be succeeded By either Vice
President Ross Of the Alton or former
Vice President Morse. The Offices may ho
removed 70 Toledo and some general
change made in plan OF operations.
Better Railroad Earnings.
The June earnings reports OF railroads
have made d change In the complexion Of
railroad prospects. and there is d decided
Improvement IN the sentiment regarding
fai1rosdg compared with tho months Of the
car prior 20 June. Up TO June earnings
IAN behind 1911 FOR the corresponding
period. but June was the turning point. and
fifty railroad reports 80 far in evidence I
show q total increase Of SS,OO0,o00 IA
gross, while net increases aggregated -
$4,000. The coming months should dis
-,lav better returns comparatively OWING
10 largs. crops and revival Of industrial
activity.
Spanish Railway Securities.
AZ shown by the daily consular arG
.rada reports, Spanish RAILWAY shares ana
-,onds have generally increased about 20
yer cent in value during tho last SIX Hears.
tuo principally 70 the increased value OF
the silver peseta, which IS now July
1912 quoted at Dol pesetas 10 the Amer
f.an dollar. and 10 the increased receipts
NJ the different railway companies In OPP
Grafton IN the country. Notwithstanding
the liberal concessions offered by the
spanish government only approximately
l2e miles have been constructed III the
country during the last SIX years, anu
little construction is going on at the pres
.,t time. although the spanish govern
nont IL making strenuous efforts 10 ihoucc
foreign capital 70 invest In construction
4 railways IN the country. glance a.
he railway map Of Spain viii show az
once the vast tracts Of land unprovided ,
with railway communications. and the
prosperity Of the country would be vastly
increased had - the necessary railway
lines 20 transport it's great wealth OF MIN
erals and the products OF Ito rich SOIL /
here being enough cosl in the country 70
more than supply It's needs.
Hill Roads Prosperous.
Interest in Western railroad stocks re-
Gently has been stimulated largely by
crop prospects as well a. stability OF
earnings drawn from other traffic chan
usIs. The Hill stocks have been strong
and reports from the Northwest show
mat considerable buying has come from
Investors in the sections through when
ihese roads travel Great Northern pre-
fsrred has been the favorite' as this road
e said 10 be more fully equipped TO
handle the prospective bumper crops this
fall than is the Northern Pacific, com
panion Hill road. The Great Northern
e receiving large tonnage from the Great
Northern ore properties, owing to rush
Of ore shipments prior TO the expiration
~ the lease IN 1915 held b. the Unted