New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-17
Brief NOTES OF FINANCE
paragraphs Of Current Interest
for the Investor.

-. AGO to-day the CITY or New
rrounced the sale of the largest
yen 'sspe in its history in the form Of
ZOE. aoo.D ~ per cent corporate stock
e. effect on May Z. On that date
70 "n Of this issue brought an average
rs Of 1Oo7f7. or an income basis Of
THs' ., ner cent. An idea of the decline
s''s' bond market and the tendency
I" "a lover prices was shown on Tues
~"' .r,s week, when some of these bonds
ca cold at 97Is or on an income basis
wa nor cent. Some Of the older issues
20 CITY have shown even a greater
ard at the present time such issues
"'s as of 1869 are selling on a basis
'seld Of 4.S7 per cent. and 4i4s of 1860
- s,ed A.; per cent. and the T2s of 1851
:, Weld AS per cent
improving Missouri Pacific.
,.,o-ts from the Missouri Pacific indi-
hat President Bush is endeavoring
.,oke n real railroad out Of the sys-
avid that sooner or later that road
4, no looked upon as an important sys-
among the railroads Of the United
...,ss one Of the improvements now
90 90 on is the laying of 9O-pound steel
~. and in order that this work may
...,ipue it is reported that there has
...r authorized this year the purchase
:, ), no tons Of 100-pound steel rails in
.aal,,on TO orders already placed AT the
,,.o Of the year 1910 there were no 100
'.nrs rails on the tracks of the Missouri
p,,isc. In 1911 there were los miles and in
,ra s;2 miles of 1O0-pound rails.
Condition Of Oil Companies.
The decline in the petroleum stocks has
caused the question to arise whether such
l,sues as California and Mexican Pc
.,oleurn are threatened with any financial
diversity. II reports from interests asso-
.i.,ed with the California Petroleum
.-ompany may be accepted the financial
,osition Of the company is good. and the
os,look is that the earnings for the year
1gs will be in the neighborhood Of 81 per
+ hare. II is also said that Mexican Pc
,roleum earnings are running along at a
-are OF over 10 per cent per annum on the
common stock II such information may
80 relied upon the financial position Of
these companies is not the reason for a
repression of their securities.
Iron and Steel Trade.
The condition of the iron and steel trade
e reviewed in the trade journals for the
week "The Iron Age says:
The decline in pig iron has been more
market in the last week, low prices. which
we're exceptional before, being now gener-
sly quoted The effect has not been the
same on all consumers. A few have
toucht. perhaps on the theory that the
,yerage buyer recognizes the bottom after
4 rebound from It. but the great majority
take the view that prices will go lower.
The Iron Trade Review runs as fol-
loys
The continued decline in pig iron prices
las been accompanied by heavy buying
IN some sections, and it is confidently be-
leyed that continuance of this buying
will strengthen the pig iron market. The
Effects Of the recent foods are still being
ielt but principally in delays Of the rail
roads in delivering raw materials and
finished products. Some financial effect IS
also noticeable. as many sellers are re-
celying pleas for leniency from flood SUI
ierers. and are manifesting disposition
10 be very consideratc with buyers who
have had good credit in the past and are
how struggling TO rehabilitate them
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