New-York tribune., 1913-05-17
|||EF NOTES OF FINANCE
paragraphs Of Current Interest
'' for the Investor.

1OI llIC liIFNStO's
-. S.neat, if it MAJ be so considered
one ,or, the proposed income tax is
srsn,s cords numerous law firms an op-
iha' N secure fees for making
po''un'.'.,, "a. Of the income tax in the in
cose :, institutions which will enter the
ts'es'' ..ntest the constitutionality of the
:, ~ after IT has passed Congress
:" Hiaher Dividend Rates
=. considerable talk i'm the Street
In'' .ss dividends paid by the Brooklyn
seo0 "a IA the Consolidated Gas COM
rHo1 n seems 10 be the impression
p'n'', y. here is no reason why these com
in'' should not pay higher dividends /;
psn'ss nor cent is thought to be fair
u ",S aach one. The declaration by the
HN ~, ~ Union Gas Company of an extra
BI'O", ..,, semi-annual dividend this week
"a I'D as reason for such a deduction
So are many who believe that re-
ln's 49,, ~ the properties and assets Of
'as1t is ,6s consolidated and Brooklyn Union
@'H -, .aonanies would reveal assets Of
Us oreanizations having value in eX-
y. of $500 share
's ing dividends down and holding TO
,ir.,ues ne may be good business from the
c' '.n-., .a point Of view. but it is certainly
~ satisfactory TO stockholders.
Nav Extend Its Bonds.
Now York. Lake Erie and Western
~. and Improvement Company an
'~n,ss that it will extend its first mort
Aords which mature on July l, 1918,
rrlv I. 1913. unless they are redeemed
.o-,ier date in accordance with the
=, the extension supplement. The
...,t lien on the bonds is 10 remain
r-..,red both as to principal and in
-, The Erie Railroad Company, as
',... Of the mortgaged property. has
.r., rs assent TO the extension.
p.t.rrng 10 this announcement j. P.
80, Co. state that the extension
Ss,il,rs applies only to holders OF the
"a, ubo deposit the same at their Of
a.. =, and before June 2, 1918. The
,,v 1919. coupons. II presented. will
!. .,,ssed at the time Of the deposit On
$40 or AZ any earlier date. the bank
:, arm will buy at par and accrued in
,...,, the bonds Of holders who do not de-
-. ~ avail themselves of the extension
| givilsge.
csorse +. Brownell. vice-president and
,,-sral solicitor Of the Erie Railroad
Nnpany SAYS that, in his opinion, the
,,,s,ded bonds are and will be tax exempt
| New Jersey.
A Tedious Delay.
vo subiect has absorbed the atten-
ID, of the investing public and the coun-
rv At large in the way of railroad affairs
gently SO much as the Cnion-SOuthern
parisc segregation tangle. Ordinarily a
,vsstion of this kind in the hands of such
,Ns fnanclers as represented in the d.
,,torv OF the Union and Southern Pa
rife organization, cooperating with the
attorney General. could devise a plan in
A comparatively short time which would
net the approval Of all concerned, and
hs matter would be out of the way and
FORGOTTEN within briefer period than has
tseD devoted 10 the consideration Of this
,-oSlsm and yet to-day no definite plan
hs been announced. Many railroad men
link that Union Pacific is really in an
,dspendent position. as. If necessary. a
usr transportation route could be estab-
ahs, between Portland and San Fran
aso which would land through traffic
tsn New York to San Francisco in prac-
tally the same length Of time that is now
nisn by Southern Pacific.
\ Decrease in Swiss Exports.
Tts;e has been a gradual decrease OF
IMPORTS from Switzerland 10 this country.
I'd during the first three months OF this
yar the imports amounted TO S5,5217O7.
~ compared with 81 055 269 for the corre-
poriing quarter OF 1912. Practically all
4 the decrease was in embroideries for
Tsrded from the ST. Gall consular dis
rtl decline that was partially COM
Fnatsd in an increase in shipments 10
ne Philippine Islands of various Swiss
Y'tucts, notably cotton goods and con-
ss1seo milk from the Zurich district. Be
Mss embroideries with a declared value
e1si@ In contrast TO a total OF 3d.
@% in the first three months OF 1922,
aasr important Swiss articles declared
~ export TO the United States during
~ frst quarter OF 1913 were: Silks and
rshesl silks, iSol. .255; cotton yarn. SsS,-
u; cotton and woolen tissues, s1s.Ss4;
n goods. Slsss, straw goods, S2,sos;
srrhss and parts. s479 S99: machines and
ara ts,7S: aniline dyes. 1884, other
ln and chemicals, tli72 2s9; cheese. $780,
" condensed milk, s13,7Z7; chocolate,