New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-21
Denver G. Rio Grande.

~ doWn, II Simply SON0' ~ '"' S"'
cause?
Denver & Rio Grande.
contract for seventeen miles of second
u extending from Tucker to Thistle,
''"h has Just been awarded the Utah
s-s,ruction Company, Of ogden. Utah.
S.,- chen completed, will. in connection
- tho nine-mile track recently award
~ the fitzpatrick Brothers, make con-
eu -. stretch of fifty miles of double
- insuring prompt handling OF the
immense coal and coke tonnage from the
,',ah fields TO the smelter and reduction
It IN salt Lake City. Butte, Mont
o.. Nev.. and the commercial trade on
t,e pacific Coast.
rhore is reported 10 be great activity
= tho entire line OF the Denver &
p,o Grande between Denver and Salt
- City Thousands of men are said
% no employed in betterments and new
construction work.
Erie Earnings
The Forthcoming report OF the Erie
ps,road will make a poor comparison In
,ha matter OF earnings available TOT
common dividends on account OF loss In
,-sNsc due TO the anthracite strike with
~ annual reports Of the 1911 and 1910
s.c,I wears. The earnings Of the Erie, II
!. s.,d have now about recovered from
the recent coal strike. and the June state
rnent is expected 10 show gross earnings
better than for June, 1911.
United States Steel Earnings.
The Steel Corporation is reported to be
onerating at between "a per cent and %
ner cent Of capacity. Operations. II is SAID
ara not increasing owing TO lack OF suff1-
cisn, labor. On July 80 the statement Of
steel earnings for the quarter ended June
20 will be published, and as estimated by
some will show net of approximately SS.-
moo It is too early to forecast re-
suits OF the current quarter, but the net
returns should show an Improvement.
Consumers are now paying premium of
from 81 TO 81 a ton for early delivery OF
orders
Mining Companies Dividends.
Thompson & Towle report that twenty
Two copper mining companies have this
year paid slSC0O.C00 In dividends, and since
Incorporation these companies have paid
a total Of $3.50, 900. as compared with a
total Capitalization of SOD, 10000. Calumet
and Hecla leads, with total dividends laid
OF Nf7yOO0,010. Anaconda has paid sS3,5iS,-
co. while the Utah Copper Company is
the second largest dividend payer this
year following Anaconda with disburse-
ments OF S3,75O.O0O, and has paid out sl4-
$1,000 since its Incorporation /,
Gone to Denver.
The default on the notes of the Denver,
Northwestern d Pacific is the reason for
the departure OF Benjamin Strong. jr..
yice-president of the Bankers Trust Com I
pany, and Henry H. Wehrbane. OF Hall
garten G. Co., for Denver. They are men,
bers OF the committee representing the
ro,eholders. II is hoped by interested J
parties that a receivership will not be
Necessary II is said nearly enough I
money has been raised TO provide par
ual payment and extension Of notes.
Hiaher Interest Rates.
The demand for higher interest rates is
recognized generally. Referring to this
fact Wagner, Dickerson & Co. have the
following TO say:
/ 1
Msrations of the effect OF higher interest
rates now demanded by the investor. The
Baltimore city loan of $4,000, with in
terest at 4 per cent, brought an average
price a shade under 81, some 3la points
below the price Of similar securities is
sued last December. Bankers identified !
with the ST. Louis, Iron Mountain &
Southern Railway Company are expected
soon to make public an offering OF W.
0O,eO of first and refunding bonds of
that company bearing 6 per cent interest
a high rate, despite the unfortunate con
dltlons surrounding Missouri Pacific af-
fairs for q long time past The great de-
cline In British consols, bearing 2l2 per
cent interest, TO a level at which the
yield lie stu only 9.SS per cent has been
Spectacular, but entirely logical, as a re-
suit Of reproduction OF new securities
in London and Of the competition of well !
secured higher interest bearing Issues
guaranteed by the English government
ITSELF"
Mexican Securities.
The Financial World" touches the Sc
wrty position Of Mexico and pays high
@mpments to the republics credit az
fellows;
That the disturbances I'm Mexico have
failed to affect that governments securi-
ties seriously is a high compliment to the
credit Of the republic. In the financial
marts OF the world there was for a single
moment not at any time the least thought
that the Mexican government would be
Unable to pay promptly the interest on Its
bonds We are told that the Mexican
government has always kept on deposit
IN London and Berlin at least years
requirements for paying the coupons Of
It's bonds. Those OF the per cent ex-
ternal bonds are paid quarterly at the
rate Of 12.12h for each bond OF face
value Of $500. In American money the
face value OF each 5000 bond is 1870.
These bonds were issued in denominations
OF $40. 400, 1900. $500 and $4,000 or
ts7. S4s5. 1870, s2.425 and si,S6O. The
total issue was 922.700.000, but no date
Of maturity was set The Mexican gov
eminent however obligated itself to re-
deem annually from 1900 on 81 per cent
OF the original amount of the loan. BY
The operation Of the sinking fund 1t is
estimated that this entire bond issue will
De retired in 1915"
Bio Dominion Subsidiary.