New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-08
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

The question OF money trust" has
s.sn crystallized by Henry L. Higginson
- "rhe Boston Herald" as follows:
.sThe need for interlocking directors
Uses from our absurd banking laws. A
rsn,c arises from fright and the conse-
.rsn, boarding OF cash. and many q
',rngency arises from needless fear-that
!, an undue regard for ones self. The
.,oount OF cash is the same as the day
fore but Il drawn ont and hidden its
,oss must be made good or business suf-
..rs In such times team play is. essential.
IA II Is not difficult if the members OF
,,e team know each other. II a money
.,,sf exist Il consists of the trust and
.o,saence OF ones fellow men. When
.s;s confidence fails. the trust disap-
pcars.
u;cr all ibis seems 10 be the meat in
me cocoaput regarding so-cnlod
.morey trust"
Oil Operations.
The development of oil companies is
poeressing very rapidly. not only in the
United States but throughout the world
sblpnents OF oil from California TO the
orient are constantly increasing. as well
rs 10 cthc~ countries. particularly in
south America. Various oil companies in
Texas. Oklahoma, Kansas and other parts
q, the country ere planning increased
facilities, which point 10 the prospect Of
q very large business In oil in the future
7. Is stated that at the present time the
|teH - -. l.
practically 10000 barrels Of petroleum
stored In pipe lines and tanks. The o..
fields Of California are attracting q great
deal Of attention and are expected 20
Sow q marked degree OF activity during
, me present year. Melon cutting among
The oil COMPANIES has been rather a COM
non occurrence since the segregation OF
The Standard or Company interests. The
latest announcement is by the Gulf Oil
Corporation, an independent OF the Stand
ard Oil Company. whose stockholders will
meet on March 20 10 vote on an increase
Of the capital stock from ST.. 600 TO
sOU,Oo Ii j. said the stockholders VIII
be given the right 10 subscribe up 70 100
per cent Of their holdings al par. and that
q stock dividend Of 100 per cent Will be
declared The company was incorporated
in 1867 and now owns more than $50 miles
Of pipe line. on January ], 1912, the
funded debt Of the company amounted TO
SS7sO10 first mortgage collateral 6s and
$4,000 first mortgage bonds on the Gulf
Refining Company a subsidiary.
Trade with Turkey.
Statistics compiled and furnished
through consular reports show that the
exports from Constantinople TO the United
States during the calendar year 1912 made
an increase Of $S1s.6l2, the totals for the
last two years being as follows: $i171,6sS
in 1911 and S49O.305 in 1912. Decreases are
shown in cotton lace. which industry Is
graYitating toward Beirut, where wages
are lower: also In opium. puer and wal
nuts. But these deficiencies are more
than Offset by increases in skins and wool
Turkish meerschaum is now being eX-
ported from Constantinople 10 America
instead OF from Vienna.
Fire Insurance Statistics.
The first summary Of the fire insurance
business that has ever appeared viii be
given in The Spectator of New YORK.
today. The compilation shows the az
eregate transactions of fire insurance
companies in the United States during the
rear 1912. with comparisons by years
since 1902 The combined capital OF all the
American and foreign stock fire insurance
companies at the end Of 1917 was SSl.5'5'554,
an increase Of sS,545.5JO over 1911. The
,ota assets OF these companies on Jann-
ary !. 1913. we're s6l7Sl7,746, an increase OF
cl.zs7. 70 over the amount on January l.
1872 Losses paid by these companies our
ing 1912 were sl65. rs. an increase OF
Hs3i.5ss over 1911 Dividends paid by the
American companies only during the year
amounted to $l2,SSS. 525, an increase OF
nscs. as compared with lell. and total
esbursenents of all companies were 900
M.SS. an increase of s6.755,2s'' as COM
pared with the previous year.