New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-28

fsN scorChing days like wednesday
che coloners bandana brigade will he
An ,.esd particularly il the colonel and
Nv financial bankers are going TO distrib-
Us. rs. these real Southern wipes free, The
Wv, hrokers would take TO them like a
pup to root.
Decrease in Profits.
rss annual report Of the Anglo-American
- roropany for the last fiscal year shows
s,c,,De IN profits of fl4,lo0 sterling, or
s,.Ssss IN United States money, from the
-.osd,ng year After deducting this from
-. credit balance there was left a sur
Wv Wv. ~ f.ToSoO, or S2,9SSOSS. Out of this was
"a diyidends amounting TO 20 per cent on
30 II 900 capital stock leaving $40 coo
b. carried forward TO surplus account
Economics Reports,
r,s Bureau Of Railway Economics at
washington reports that all railroads Of the
,.r,,.d states from returns for April, 1912,
e.arcsd TO a per mile basis" and compared
-,,h returns for April, 1911, showed an in
,..osA In total operating revenues per mile
- ner cent and increase in operating eX-
..rsss per mile Of per cent Net operat-
80 rsvsnue per mile decreased S33, or ia
10 cent. from April 1911. The net operat-
t,s revenue ner mile for April, 1911, was
a. per cent smaller than for April, 1910.
/. & G. N. Earnings.
=, is rumored that the International and
c,.st Northern will soon declare an initial
S,ydsnd on the preferred stock. which IS
TITLED 10 . per cent cumulative. The basis
&c an, "a
..r,,nrs OF the company, which since the
discharge Of the receivers have continued TO
,r,nroye. In seven and one-half months, to
lr-4I 90 the company earned sS60,034 over
,n,;l Ayed charges. which is equivalent to
10 per cent on its $5,ooo,oo preferred
stock or at an annual rate Of 81 per cent.
Excessive Rates Hearing.
A current report from Pittsburgh states
that a delegation Of Youngstown msnufact-
urers will be IN New York this evening In
order TO attend hearing tomorrow before
snscial Examiner Gerry OF the Interstate
commerce Commission The main topic TO
bA argued and discussed is on the alleged
untust. unrea sonable and excessive rates
charged by the Lake Shore & Michigan
southern and other roads hauling and hand
ling ore shipped int0 the Youngstown dis
,rict. Many Of the prominent steel men will
attend the hearing. among whom, It Is said.
will be included the president Of the Sheet
& Tube Company. the chief counsel for the
Republic Iron and Steel Company and sew
ersl other important persons.
German Steel and Iron.
Reports from abroad assert that the Ger
man steel market continue to be steady ana
production in June will bo in equal proper
tion 10 that IN May, As II is the manu-
fscturers are far behind I'm deliveries Of
bars. and certain plants have quite suf-
fcient business on their books 10 keep them
busy for three months. There is at present,
It is said, a heavy demand for pig iron I'm
Germany, production of which I'm May oX-
essdsd ), ZOO metric tons, compared with
$4,000 IN April.
Continuous Credits.
An interesting condition of the system in
vogue among some country banks toward
extensions Of commercial paper was told
recently by William c. Cornwell in his ad-
dress before the Virginia Bankers Associa-
ton s follows:
Tt is estimated roughly that p per cent
Of country bank paper is past due. story
&c told OF one Of the banks down South
where. after carrying a note for three and
half years and adding interest semi-annual-
ly. the cashier called IN the maker and no
taed him that the directors had decided
that they would not charge him any more
interest The customer thanked him end
looked pleased, but the cashier said: What
we are going to do after this Is TO charge
you storage on this note,
Silver Production Increase
According 10 The Toronto Globe the
silver production Of Ontario continues 10
grow. as shown IN the following;
For the first three months OF the current
wear the mines Of the province produced
74sa o44 ounces, aggregating a value of 81
oq2. 4o5. This is an increase in value over
the same period of 1911 of sSS3S6l. Cobalt
rroner was responsible for 7006,A2 ounces