New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-13
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the investor.


for the Investor.
farm WAGES IN the United States. &C
.,,a,ne 10 the Bureau of Statistics of the
n.nsrtnnent of Agriculture, have m
,..osed during the last two years about
, nor cent. Compared with the average
r.r.s during the SOS the present scale
about So per cent higher. This increase
s,l account 10 some extent for the high
=, cost OF living. TO which MAY be added
-. shorter hours for days work now
.omnared 10 "A quarter of a century ago
md the increase of luxury. such as au-
,,,oniles. etc. which take up the time
y the farmer and add TO the cost Of
production
Time for investment.
IN a survey Of the general field and the
,o,Iook regarding the speculative position
The London Statist' has the following;
The time has not vet arrived when II
>sould be wise for anyone TO purchase
stocks on borrowed resources. The UNI
..r,sjnties in the situation and the danger
a, loss are much too great But the mo-
nent is undoubtedly favorable one for
investors DESTROYS of placing money to
advantage 10 acquire stocks 10 hold per-
nanently. Every investor has his own
,,.cialties. ana. in our judgment all kinds
~ stocks can be safely purchased at the
present. time from consols downward
l-pon the conclusion Of peace substan-
tsl recovery in prices Will be witnessed
and although the full extent of the adj
vance may not be maintained when all
me new loans 10 be placed are issued, yet
probably prices will not fall back again
10 their current level"
Bonds in the 18th Century.
In the Rand McNally Bankers Mag
,ziner $ w Straus recently had an ar
,ic,e on real estate mortgages. IN which
\. refers 10 bonds as much more mod
srn invention. although they nave re
,p.ctable antiquity. He says: Historians
ell US that the city of Venice hoated issues
Of municipal bonds in the thirteenth cen
,ury. VET when the nineteenth century
vas reached and peace rather than war
he great period of investment which FOL
owed made bonds popular faVorites
rather than mortgages. In SUCCESSFUL
government. municipal. railroad and then
snsllv. public utility and industrial bonds
ssimed the good viii OF the investing
'gblic."
Utilizing an Old Charter.
Having charters around that some day
nne in handy has proved 10 be advan-
,sseous 10 the Western Maryland Rail
way. This company has just dug up nom
US archives a charter Of the Western
MARYLAND Terminal Company. which here
,ofore has been Of no use 10 the com
pany. Application has been made 70 me
MARYLAND Public Service Commission Tor
os,r,is.ion 10 issue SsO0,c0 initial stock
isre The acquisition by the Western
MARYLAND of the new property az foft
Gown rton piers is responsible for the
rev developments This property. IL IS
aid. represents an investment o. about
q 10000
Act Of Self preservation.
On. view Of the Western Pacific Eali-
ray's opposition to the dissolution pan
u the Hartman lines is that the vest
am Pacific is forced to make hght
ind.r the law OF lf-preserVSiloh'
Operations Of passenger service between
salt Lake City and San Francisco were
,.r,n over the Western Pacific in August
no Previous 10 that time freight ser
Zee only had been operated. For the
seal year ended June 30 1872. the gross
srntnes OF the company were *o'-0S''V'
| Vim q net o. $4,000 TO pay interest on
1ooncs amounting 20 $4,000 The Den
wr a Rio Grande Railroad was given
tote for i,752.OJO for unearned interest
On bonos 10 June 30. 1912. 10 cover money
advanced for payments of interest OF the
ompeny's 100000 first mortgage bonos
md accumulated unpaid interest on us
Eoo.oo second mortgage bonds, so that
he Denver a. Rio Grande now owes IN
addition 10 the 100000 face value q
Western Pacific bonds. the note ana other
/ sblisations OF accrued interest on second
/ nortsage amounting 20 $4,000; also hair
/ years interest 10 December 81 on DOM
ne nrst and second mortgage bonos. IN
| he i!Eht OF this situation something must