New-York tribune., 1913-11-23
FINANCIAL NEWS
And COMMENT
paragraphs for Investors
Interesting Topics
of the Day.

smaller states IKE Conhectlcut'
ns ,aod in the list of banks which
sho'' s.,,rs from the national banking
VII. provided the currency measure
Nsac,ed into law with its objection
features. There is a reason for
aOE aO.o,icut 10 take such a stand when
vO.- vouldn't be for some other states
In nil in its contemplation of the
In I.,rv's needs appears to give more
eO." e..,on 10 the requirements of insti-
''.s rs IN the cotton and grain districts
in the conservative manufacturing
centres.
Exports for This Year.
~. rsport Of the Department of Com
80. FOR the month of October show
.vnorts of domestic breadstuffs. cot
As s.ssd oil. food animals. meat and dairy
S..aucts cotton and mineral oils from
y. nrincipal customs Of this country
- hesn completed. The total value of
.<... exports for the month of October
..rpted TO S147,S31, 1862. as compared
"a, slSs.9lS,351 for the corresponding
..,th of 1912 For the ten months Pc
la ended October 81 this year the
..,,, value amounted TO sS12.127,547, as
.,ainst s755.314,465.
:, breadstuffs there was a decrease for
-. month Of October, but an increase in
~, exports for the ten months period.
,, oottonseed oil there was a decrease for
a, month and for the ten months period
~. year. The exports of cattle. hogs
.ra sheep increased for the month while
q, the ten months period this year the
.,,,, was only s754, ,234. as compared with
usaoss for the first ten months in 1912.
wbus cotton showed a decrease in the
,rrrber Of pounds for October the value
"a. n0.s75,1g7, compared with sSS.6S9, ,6s3
I, isl2 For the ten months period there
vas a decrease in both the number Of
,ounds and in the value of cotton ex-
rorted this year. Mineral oils showed an
Increase in quantity and in value for both
october and the ten months period this
year.
Income Tax Guide.
How to Comply with the Income Tax
law Respecting Interest" by Stuart H.
Patterson. is the title of a pamphlet just
publshed by the Trust Companies"
usgazine Of No. l Liberty street. The
psmphlet is designed as a guide to bond
holders, private bankers, banking institu-
tons and bond issuing corporations, and
contains examples of the use of owner
ship certificates and sundry other forms
"a rorrnctfAnc oIcn
POINTS out the reasons why every private
banker and banking institution must ap-
ply TO the government for a license. Mr.
Patterson is the expert employed by the
trust companies committee in connection
with the income tax. He has done much
to clear up the complications in putting
the law into practice.
California Petroleum Company.
II is reported that the expenditure Of
$1,000 recommended by an expert who
was employed TO make a report on the
California Petroleum. Company property
may be required for this year only, and
that in coming years the amount may be
reduced II the conditions are normal. For
tie ten months period TO November !
the production reported by the company
aggregated 4.57O,574 barrels. 1t is said
there has been little change since the
beginning Of September. when the direc-
tors issued their statement In connection
with the passing of the common dividend,
and while there are favorable reports In
circulation that the directors are liable TO
declare the regular quarterly dividend Of
IL per cent on the preferred stock at the
December meeting, this will depend on
developments and is open TO question.
Naturally, a great many things may oc-
cur favorably or unfavorably within a
short space of time to an oil company or
a mining company. which will be re-
nected in earnings and dividends.
Effect of Revised Tariff.
A Chicago report says that the busi-
ness Of importing Ontario cattle at a
profit has practically ceased as a result
Of the new tariff. 1t is said that one
large dealer this last week resold at To-
ronto lot OF Ontario cattle rather than
snip them TO Chicago, as with the N14
per cent difference spectators are losing
money. Since the inauguration Of the
new law the outcome has been to place
values in Ontario above a parity with
quotations at United States markets, and
this has resulted in raising the meat
prices to Canadian consumers, but II has
JAILED to result in any appreciable lower
ing OF prices 10 American consumers.