New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-25

n is always SOOu FldH W itNNli
money after the time has passed when 1t
night have been needed. However, in
,ne future IL probably will not be neces-
,.rv 70 return Wall Street money.
Standard Oil of Ohio.
While no balance sheet has been pub
ushed. II is said that the Standard Oil
ronpany OF Ohio has paid it's full in
6abtedness to the Standard Oil Company
- New Jersey for funds advanced 10
erance improvements, and is now clear
~ all debt No dividends have been paid
since the distribution of the stock in De
cernber. 1911. and the company is reported
70 he accommodating a liberal working bal
ance
Added Railway Expenditures.
President Finley Of the Southern Rail
yay Company, at the Transportation
club IN Indianapolis on October %, talked
On The Railway and the Shipper" In a
general way he presented the relations
bstween these two interests. Referring
10 the increase in wages he said:
The largest item of railway expendi-
ture Is for wages, and the tendency Of
wage adjustments for all classes of rail-
WAY employees has been steadily upward
IN recent years. The Interstate Com
nsrce Commission has not yet published
the official statistics for 1911. but figures
have been compiled covering the wages
NJ treinmon on the railways OF the sec
ton east OF Chicago and St. Louis and
north OF the Ohio and Potomac rivers,
which show that the wages OF locomotive
engineers. conductors and other trainmen
IN that section were greater I'm 1911 by
approxlmately 100000 than they would
have been had the wage scale OF 1910
been IN effect II should be borne IN mind
that these figures, large as they are, rep
resent the increased rate OF wages paid 20
only q few classes OF railway employees
IN a single section Of the United States"
Mr. Finley pointed out that not only
wages, but materials and supplies used
BY railways, have advanced in price, and
that their taxes levied by government
have increased $50. 900 900, Or 1sT per cent
since 1900. and amount to about slSocoOoO
for the fiscal year 1912.
Majority Of Debt Deposited,
limited States Motor Company has an
nounced that a majority in amount OF the
Indebtedness Of the company, provided Tor
hv the plan Of reorganization, dated Octo-
Der 10, 1912. has been deposited, subject
IN the plan and notice is given that all
deposlts must be made with the Central
Trust Company Of New York, depositary,
before the close Of business on November
@ After that date no deposits will be re-
ceived. except with the consent Of the
committee and upon payment Of such pen
atty as it shall impose. An Immediate
deposit Of securities. claims and shares OF
stock, II is said, will aid the committee In
its endeavor to affect a speedy reorganiza-
ton.
Iron and Steel Trade.
I'm reviewing the progress OF the iron
and steel markets the trade publications
this week are encouraging.
"The Iron Age" says, in part:
Railroad buying on larger scale than
al any time this year has been the feature
Of the finished steel market in the last
week Rail orders Just closed amount 10
more than 200. 900 tons, including 1OOOVO
tons for the Southern Pacific and the
Union Pacific and 5000 tons for the Hi
nois Central. The seaboard rail mill has
taken $500 tons for Southern lines OF
which 1900 tons was for the San Antonio
& Arkansas Pass Rail orders already
closed for 1878 are estimated at nearly
1000 tons. which is a record tonnage at
this date.
car orders have borne out recent pre-.
dictlons. Those closed this week amount
10 1900, with $4,000 pending IN live In
auiries. apart from several thousand cars
expected from the New York Central
October business thus far is fully $4,000
cars. The steel for these has been large
item for the mills this month, single car
works contract OF the last week being for
10000 tons Of plates and shapes.
This activity Of the railroads indicates
as great anxiety 10 get in line on the
books Of the car works as to make sure
" rolling space in rail mills. Already the
car companies are filed up well into the
spring OF 1913"
.sTbe Iron Trade Review" gives the fol-
lowing:
The greatest exertions possible are fall
ing 70 produce tonnaBss OF hHlhheu i'i0'
terial TO meet the tremendous demands OF
consumers. Tonnages Of shapes, bars ana
plates which can be obtained for delivery
before July Of next year, except from a
few mills ct high premium prices, are
gradually diminishing. Inability TO oota'n
anything like prompt deliveries is delay
ing many projects and causing less activ-
ity in placing new orders. This Is well
come relief to overcrowded mills. October
Is proving TO be the banner month OF the
year for rail orders, and more than $780,
mn Anrn hnrn already been nlaced."