New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-12


..,,." in the stock market these days.
The "Nlmble Nickel" Profits.
r., {. Kresge Company, controlling
~ of 8 and 10 cent stores, reports
s.Iss for the eleven months ended Novein-
- 20. 1912, amounting to sS,oS2'o2S' an
Vase Of S2.004,790 over last years hg-
iH''' he,rp a gain of 30.47 per cent Sales
we' Ioyember of s97S.915. compared with
w, s7s for November. 1911. show gain
n.48 per cent
rns business began in 1897 with an
,.,,,al investment Of $500, and Mr. Kresge
Ne letters 10 the bankers who brought
,,e Is sue last spring states the bust
w. has steadily grown TO its present size
oliv from the reinvestment OF accumu-
Tod profts. The success that has come
e., the reinvestment Of surplus earnings
ooeninc new stores makes likely the
aa,,inuapce Of the Kresge policy during
the cOmins year.
The outstanding preferred stock Of s2,-
,oo noo will be reduced by the retirement
- s5o 900 on January ., 1918; $4,000 in
'a,I and 1915. and 100000 Zach succeed
49, vear until the entire issue has been
redeemed
Piano Market in Turkey.
In these DAYS when pianos are possibly
,,ora numerous than baby carriages in
.s,s country it seems remarkable that in
en-. nroyince Of Bagdad, Turkey. there are
MT more than thirty pianos Practically
~ ~ these. IT is reported. belong 70 Euro
..ons and we're brought TO that country
Nv the owners when they went there
Tb.re are no importers Of pianos or repre-
ssntatIves Of piano firms in that district.
limited demand for these instruments
NAV. spring up in the future as Euro
Means become more permanently settled
Tn. demand. however, Will be for pianos
,necially adapted TO the dry heat OF this
,,,ritorv. such as are made in England
and Germany for sale In Southern and
western Asia The wood generally used
for pianos in the United States, II is SAID
will shrink In the Turkish climate. The
sounding board, it appears, should be OF
metal or specially prepared wood. Most
nianos in use In Turkey, ii is said. have
sounding boards Of metal, which gives an
inferior sound. but makes the instrument
more durable.
Financing for New Equipment.
An application has been filed with the
unstata Public Service Commission by the
New York Central and the Lake Shore
for the approval of New York Central
lines equipment trust agreement Of 1913
and authorization of the present issue OF
,12.547. 600 Of trust certificates hereunder
The petitioners ask that the sale or trust
certificates be allowed at not less than 81.
With the proceeds of the certificates it Is
purposed TO purchase for the New YORK
Central & Hudson River Railroad Com
many 90 passenger locomotives. 80 freight
locomotives. > suburban locomotives, 90
switching locomotives, so freight locomo-
tives. /. 900 hopper cars and 40 steel bag
gage cars for the Lake Shore Michigan
southern Railway. 90 freight locomotives,
Is steel baggage cars and 10 steel passen-
ger coaches; for the .ulchigan Central
Railway Company 30 passenger locomo-
uves. % switching locomotives, 20 steel
passenger cars and 10 steel baggage cars
for the Cleveland, Cincinnati, Chicago
St Louis Railroad Company 1000 gen
eral service cars: for the Pittsburgh
Lake Erie Railroad Company, 1000 gon-
dola cars and 1000 hopper cars, and for
the Toledo & Ohio Central Railway Com
psny 900 hopper cars.