New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-17

A,,sicol condition paid out of earnings.
t,,-,,tenance of way expenditures were
IS. ooo larger than in 1911, and the main
.'nonce of equipment item was increased
@l2lL
Utah Copper's Prospect.
according TO estimates given out by
.,oss in close touch with the company,
January /. 1913 will see the Utah Copper
..,r,panv free from debt and a sufficient
liking capital on hand to finance cop
nor production for a period of three
.,ortbs The same source OF Information
ar.diots increased dividends for stock
holders early next year. OF course, ell
This is subject to action of the copper
,ne,al market and other dependent condi-
tons
Financing the Farmer.
uvron T. Herrick. Ambassador 70
france. In the September number of
.voody's Magazine" has an unusually in
,erss,ing article on Banks for the Farm
~" Mr.. Herrick gives a summarized
history Of the development OF the Ameri-
can farm and cites foreign countries in
,bs,r helpful relations 10 farmers as an
illustration Of what is necessary in this
country. one paragraph, recitinS the in
ersase Of prices Of United States farm
b,oducts saws that in the last ten years
,ba average price in the United states Of
products OF the farm has Increased & per
cent although the increase in the average
nrice OF all commodities, including agri-
cultural products, has been only . per
cont The material advance in general
oriees In the last ten years is dinicult 10
avn,aiu satisfactorily. However, II is GER
rain that the failure Of production 10 in
crease with the rapidity OF consumption
has had much TO do with the high prices
~ foodstuffs. 4 further material increase
IN the prices Of foodstuffs would be a
serious hardship 10 a vast number OF pco-
MIC and would imperil the economic adj
vantage of the country. The only sure
remedy for increasing prices Of products
as the farm Is a very substantial aug
mentation in production. for the consume
lion Of foodstuds not only will not dirnin-
ish but will increase as fast as. II MOI
faster than I'm the past The farmers
need have no fear that q large increass
n the production OF farm products VIII
lower their income. on the contrary, the
eonsumption Of foodstuffs Is increasing 50
rapidly that no increase Of production Is
likely that Will lower prices to a point
where the farmers income Will not DC
increased. The increase III the consump-
zion. Of wheat I'm 1910 over the average
for the years lSsl-'9O amounted TO A7 per
cent and the Increase IN the consumption
Of corn for the same period was 52.S per
cent
The Money Outlook.
The London statist' in its weekly re-
y,sg Of the money situation says tnat
there has been much eXaggeration OF the
p,obabls demands for gold on the part OF
certain countries Is true. but what the
damanes Will amount to is as yet uncer-
tain, ana they may be large enough 10
make IL necessary for the Bank OF Eng
land 10 act with vlgor.
The Imperial Bank Of Germany as We
point out elsewhere. is likely TO require
during current months consideraoie
sum in gold 70 strengthen its reserve Inc
best opinion is that there Will be iaiTy
strong German demand for the metal Oh
.ferlng in the open market here next Mon
day, and that possibly German gold coin'
or even sOyereigus. will also be Win
drawn from the Bank Of England, But II
is 10 be recollected that the demand lot
Germany Is to prepare for stringency At
the end OF the month which has long been
foreseen Always the Berlin liquidation
al the end Of September is an extremely
trying one. Every year for long time
past the increase IN the note circulation
Of the Reichsbank AZ the end OF the thiFd
quarter Is phenomenal. Generally, the
circulation rises 20 over 100000 sterling
and the expectation is that this year u
win be larger than ever. for trade Is OK
eeedlDgly active in Germany, and there
Is good deal OF speculation. How strong
The speculation is has been Illustrated
over and over again by the action taken
by the Rcichsbauk and the warnings r.
sued by the Prusslan Government Com
nisS9ry OF the Berlin Boerse. The de-
hand, Therefore will only make Itself ie't
during the present month. After that IL
Is TO be hoped that ease win supervenc In
Germany.
The really important things. Of course,
are the demands for Egypt, Argentina
lndia and Brazil, with the contingent de-
mand for New York We deal pretty fully
elsewhere with the probable Indian de-
mand. and need only say here that even
It becomes large It will not arise until
near the end Of December, or II may be
January. The real pressure on the Euro
pean money market viii be over when
me strong demand for India arises, II II
arises at all. Regarding Brazil, II IS i'm
Possible TO speak with any confidence yet.
Dut while there may be further with
oIaWals' they arc not likely 20 become
sOeh as 10 inconvenience this market.
Denver & Rio Grande.
Announcement mas just been made by
resident Bush and Nlce-Prcsldent Brown
mat at a recent meeting Of the board OF
directors OF the Denver & Rio Grande
hailroad Company. in New York City,
" was decided to standard gauge the pres
sh' narrow gauge line over Marshall
fass' between Salida and Montrose. Col
mus involves widening the gauge from
ieet TO feet s.. inches for a distance
10000. '''oN''''"'e''
FROM 1883 TO 1890 transcontinental trains
" the DeilFer & Rio Grande were operat-