New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-06
BRIEF NOTES OF FINANCE
Paragraphs of Current interest
for the Investor.


Aha stories Of happenings. and the Fourth
~ 1912. while apparently sane, still had its
Srawbacks An aeronaut was killed and
oiu.tsen others who didn't think there
cas- any harm met death. Phoebe SHOWS
sood had a frightful accident 1t was an
.ounced that Roosevelt will run on a
cr,sin ticket for plain people" and Wall
Greet clerk. supposed TO have stolen $40
sn was caught Still the market was ir
regular yesterday.
Gold Record.
According to reports. the total gold ex-
corts since January / were $3O125,Wc, of
,rb,oh s2o.Coo,O00 has been engaged for
paris and s1o125,OoO for South American
countries
Have Signed Contracta
Reports received here from Butte Mont.
announce that the different mining COM
nenies and the miners union have signed
vagA contracts for a period Of three years.
These agree that. irrespective Of the price
~ copper. the minimum wage of under
ground workers shall be 80 so per day, and
NJ surface men g per day; that when cop
nsr is Is cents and under II cents pound,
underground workers shall receive 50 70
that when copper is at II cents and under
Is cents a pound. underground men shall
receive s. per day and surface workers 50 %
rer day: and furthermore that with copper
selling at IS cents a pound or more. sur
face men shall then receive s. 20 per day.
Broke All Records.
The Pittsburgh, Bessemer & Lake Erie
Railway. according to advlces from
sharon, Penn. made new record for
hauling ore last month. carrying ll55,"o
tons, or 5000 tons more in June than IN
the preceding month, which was the
largest month In the history Of the road.
The June figures exceeded those of June.
1911. BY 1Toco tons.
Rail Tonnage Orders.
The different railroads have bought ap-
rroximately 100000 tons Of rails so far
This wear. and az this rate the tonnage per
YEAR would amount to 100000 tons. II
the last half Of the present year shows
as good IN rail orders as the first
hsn has 1T will mean that more rails
vill be sold than for any year in. the
history Of the business The year of 1905
witnessed the largest rail tonnage mus
Gar being S,e97,SS tons
! indicate that railroads bought 10000
oars or at an annual rate Of N4OCD, as
compared with 1880 for 1911: 1900 for
1910 The best year thus far in car orders
vas that Of 1905. when 700 cars were
bought The locomotives ordered for the
first half Of 1912 totalled 200, and a con-
,inuance Of this ate for the last half of
the current year will break all previous
records with the exception Of 1905 The
structural steel ordered by railroads for
the first six months Of 1912 totalled $4,000
tons. which means 10000 tons for the
gear
=, 90. Rail Earnings Report.
IRE bureau Of Railway Economics in its
monthly statement relative to the reduc-
ing Of railroad earnings shows the effect
of Widespread coal mine strikes and food
conditions in the Mississippi Valley during
April It's summary for April shows that
net operating revenue was less by S6O26.
~ than IN the same month of 1911, loss
Of practically S33 per mile Of line or IA
per cent throughout April
An Independent Committee.
The members of the Investment Bankers,
being disappointed at their alleged inebil-
itv TO form an investment section Of the
American Bankers Associati ton. will meet
sin New York on August 70. according 10 re
ported announcements made in Chicago. TO
form separte organization. VicePresident
George 3. Caldwell OF the Continental and
Commercial Trust Company is head Of the
nsw movement. and Frederick r. Fenton.
Of Dewitt Tremble & Co. secretary Of the
committee of organization.
Miami Reports
The Miami Copper Company's June pro-
auction. according TO Geographic advices,
partly estimated Is around 272l,0oO pounds
o. copper the highest thus far obtained.
Thts Is in comparison with about 10000
pounds Of copper in May and 2580o
1nrnds In April. White II is said that all OF
Hths sis blasts are in operation. they are not
running AZ full capacity. but it is expected
| nat as improvements are made from time
TO tine the concentration. IL f. estimated,
vii soon reach the 100000 pounds monthly
reduction.
Chsnae Name Of Railroad,
An English syndicate has recently pur-
chased controlling interests In the Mexican
Pacific Company's railroad. plantation prop
critics and government concessions on the
vest coast Of Mexico. according TO late dis
Patches received here from Tacoma. The
itnte paid II is said. was several million
dollars The name Of the present com
pany viii be changed to that Of the MeXi-
can Pacihc Railway Company, and the con-
ismplsted construction of 40 miles Of new
railroad which will border the west coast
Of Mexico for $50 miles and traverse
rich luxurant agricultural region. VIII be
pushed
Difficult Row 10 Hoe
The Allls-Chalmers reorganization COM
nittee will evidently have somewhat dit-
ttult hin 10 climb before II succeeds III
getting possession at foreclosure sale. II
said that the foreclosure sale. which was
scheduled 10 have occurred within q week
o. two, has been postponed until Septem-
Der Il, as a result largely Of the suit hleo
u the interest OF Nathan Eisemann, OF
Boston. The Eisemann interests are not
alone, however, in opposing the foreclos-
ufe, Independent proceedings by stock ana
eend holders, under the sincere leadership
Z. P. Chalmers. are also in progress.
Inc fundamental claim is that Ais
tnslmers was never really in default OF
interest on its bonds, and has no rlsht 10
q treated as bankrupt corporation.
Tennessea Conner EARNINGS.