New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-28
BRIEF NOTES OF FINANCE
Paragraphs Of Current Interest
for the Investor.


..,ouv TO the cost of railroad con-
.Snc,,on. In the early days much OF the
was secured for a few dollars an
laiu odd in many instances for practically
az - hut to-day it is different. The
nO'~"sed extension OF the Chicago & East
pro- u,,rois is costing about $4,000 mile
81" land required and damages. Land
I" are being paid 800 an acre in
w., instances and the extension will be
'1 ~, thirty-nve miles in length. Farm
- " this age are valuable and rail-
.sds are not such a novelty.
Helping the Railroads.
Tho policy Of the Canadian government
.omnared with that adopted by the
'...,od states toward railroads is striking.
,nstance is in the Canadian Northern
'n,lication to the Dominion government
-. assistance IN financing the construc-
- work necessary TO complete the line
"a establish IL as a transcontinental
S,-s,er Premier Borden has invited the
,.,d,nr Canadian financiers to give him
-, hest advice possible I'm the matter.
I'D n is said will rely on their counsel
r.r direction In this country the public
h.s heen educated to believe that advice
.ror LEADING fnanciers in matters of gov
.rrment is against public policy, so in
.,.ad of securing the best possible counsel
,sis country is left 10 depend on polti-
clans who have neither the training nor
the business acumen necessary TO insure
,rsc,jcal instead of theoretical legislation.
Texas Sulphur Deposits.
Purchase Of half of the $4,000 capital of
en-. Houston & Brazos Valley Railroad. a
sbort line running from Anchor TO Free
no,, Tex. calls attention 10 the National
c,,v Bank interests in the sulphur depos-
,,s at Freeport These deposits cover six
hundred acres and the sulphur is mined
bv hot water process which is said 10
minimize the cost OF production. The Mis-
souri Kansas & Texas purchased the line
q, the Houston & Brazos Valley on &C
cunt Of the sulphur tonnage that IS eX-
,sc.ed % result from the operations Of the
,,,dicate The largest sulphur mines in
tho world are IN Louisiana. but these at
rreepo-t II is said will rank next I'm size
and importance The Houston & Brazos
is the only line now running into Free
port
To Extend Coal Railroad.
plans for the extension of the Montour
Railroad from its terminus at North Star.
Penn 10 the Mifiin Yard OF the Bessemer
6Lake Erie Railroad have been made by
the Pittsburgh Coal Company. This addi-
tim will be about thirty-four miles in
length and will insure the maintenance OF
the present Pittsburgh Coal Company $
tonnage and also provides for its increase
as old operations are replaced by new
ones. II is expected the road will be I'm
operation by July I. 1914. and q contract
dated July H. 1872. provides for traffic
exchange between the two railroad conf
NAMES and an equitable division Of the
rates The cost of production is estimated
al s.. $4,000. which has been financed
through the issuing Of per cent first
rorteaee coupon bonds to run fifty years
'ree from deductible tax, with an annual
sinking fund provision which VIII retire
sl the bonds before maturity.
Bank OF England.
The statement of the Bank Of England
made public yesterday indicates the Sc
FORE strain through which the financial
markets Of Europe have been passing. III
nc rroportion Of reserve TO liabilities a
jecliDe Of nearly point IS shown DING
NO the percentage below 10 per cent Tor
ne FIRST time al this period in many
,sa-s Tho ten-year average is 1901 per
,art v.hile this week shows 1886 per cent
the large arrivals OF
yold q loss Of practically N,ecooOO Is
shown In bullion. 1t will require SONY
time 10 afford substantial relief IL the
money situation. Notwithstanding the out
oob for an early restoration Of peace con-
itions on the Continent and Iessoiliils
Of demand for gold.
a Model Bill.
The general counsel Of the Investment
Bankers Association. Robert K. Reed
has drawn bill providing for UNIFORM
statute TO cover the issuance or muhici-
nal bonds which will be adaptable 10
everv state in the Union. The scope oil
the proposed bill is TO provide simplicity
and practical uniformity which VIII IN
crease security and STABILITY. one point
e,pecialv good is that the validity OF
every issue snail be determined befor d
sale &c made and the successive refundinS
OF municipal bonds is avoided by pro'lu-
Ing for actual liquidation. There are
other features which make the measure
attractive The bill has been introduceu
in the New Jersey Legislature, ana the
Columbia Knickerbocker Trust company
OF New York is directing a campaign for
L..