New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-31
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

Now that the New York Police Depart
nent is TO be given a cleaning, Japan Is
10 have a new era, Wilson has his speech
written and the chief Bull Moose is going
TO Chicago, maybe the stock market will
show some improvement.
Large Apple Crop,
The Ozark apple crop will be large
one. according 10 reports from the district
IN the state made famous by Kit. the
Arkansaw Traveller"
New Road Not Named.
Z, IL reported that new railroad 70
APPROXIMATE 100 miles, from the Gulf OF
Mexico north into the grain fields Of
Kansas and Nebraska, has been financed
I'm London. The sum OF S3Q.oco.o00 is satd
20 be the cost Of the road. and the Bald
,yln Locomotive Works Will furnish 100
oil burning locomotives. The name Of the
road is not given.
British Finance Figures.
The SUN Of sSS6.es7, 90 was the total
amount OF rev capital issues in Great
Britain for the first half Of 1912, as COM
90 IN 1910 The colonial reports OF new
issues for the half year totalled $l%5.9@2.0'O
IN 1919. G73, 134,coo in 1911 and se9oSS'.9O IN
1910. Tho annual income Of the United
Kingdom Is estimated at 81, ~, OJO,OW ana
the annual Increase Of the nations capl-
tai fund Is s., $50 700. 90. \ billion dolIars
wear is the approximate sum available
annually nom all sources Of the KING
dom for investment purposes,
Hart-parr Financing.
REPORTS are current that the Hart-Parr
Company, manufacturers Of agricultural
machinery, are negotiating for some new
financing TO be arranged soon with East
nan, Dillon Il Co.. Of New York, and
King, FArnum Dc Co.. OF Chicago. prob
ably 10 take the form OF a per cent
preferred stock issue, which will be
offered 10 the public. The Hart-Parr
Company Is the oldest company In the
world in its line Of business, and this will
be Us first offering TO the public. Its
products are said TO have a market IN
and It's foreign business particularly is
said 10 have been growing lately 1t
satisfactory rate.
Poor Annual Statement.
The Colorado & southern's annual state
n.ent IS expected 10 DO the poorest the
Dad has experienced In several years.
The reason IS understood 10 be that lum-
Der shipments and that part Of traffic
coming from manufacturing concerns have
beer small. The greater part OF this
road's business comes from the mines,
end shipments Of mine products for the
last wear have been below normal Agri-
cultural products. which represent only
sround one-eighth of tho roads tonnage,
average about as usual. The cost OF
handling tbs roads business is reported
20 have been slightly higher for the fiscal
YEAR ended than the previous year, so, on
The whole tho prospects for good an
nual statement are not encouraging.
Western steel Business.
Referring % the steel Industry IN the
wcft Cseoree a. Baird. OF the Inland
steel Company IS credited Win tho FOL
loving
as % thc steel industry mills are 90
~eaRestea That they have been forced 20
turn away = large amount az business
calling for carly delivery. The tendency
81 prices o. upward. ard earnings should
taou q r-o.--a.ed iac-euss from now On.
Tho last quarter Of the current ysa- VII
rrobau.y saow up hs,ter r. tie way Of
p-oAts taap any precedluG -ertsr IN
80"
Investment Bankers Association.
Tss movement toward an investment
association which w-s noted In The Trio-
ne q s.v. weeks ago e. s;i.1 5c.ns pushed
ana August 8 Is tho dlte sat Tor he
-ssf.re q. the Wzls0If-Astorla. leo-eo
=. Caldwell. chairman Of tho I7vs-un.nt
Bankers Association. yesterday IN re-
f.-r:ng 90 a wrong impression said.
IN the f.st place. we a1o limiting oor
aDaers Of activity % subjects and topics
nat ara of interest 70 10 investment
banking business; eecond. by reason Of
the small rurnoc CT investment panNeib
i7 the United states compared - those
.-qszed ir commercial end trust cone
osny banking. ne shall probably not DE
a,'e 10 have an association that ~l.i eN-
essd ore thousand Rsmbers. a. we eE-
.e-tt 20 take ~ Only the high grade houses J..
-..r... we expect 70 DO ntle to co-operate
,.-a rrs officers of ths American Bunk
,.,. Assec.1uon In many reforms which
,ae~ are trying 20 work OUT some OF
which ore of vital interest 70 the invest
nent banking purposes While there were
good reasons IN the minds OF portion
Of the executive council Of the American
Bankers Association why they Ola not
ssycr the organization Of another section
at this time. these reasons did not in any
way breed a recalcitrant spirit among
The Investment bankers, but at:er due DE-
liberation II was deemed wise 10 organize
Independently. believing that in 80 doing
we could have our own organization with
our own funds IN the hands OF our own
officers. and that we could accomplish in
a moro direct manner the aim and pur-
poses Of tho reorganization.
We are neither insurgents nor radicals
nor should We come under the ban OF be-
Ing dubbed q bull moose party OF bank
erA"
BOND DOTS.