New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-15

~,,osed rev subway at par. After all.
r.rbe there is no place like home. but
No. the song this seems 10 be no hum
he Home
NorfoIk Southern Outlay.
feature Of the mortgage which Sc
,,es the authorized issue of $S5.OcO,Ooo
,.,r,olk Southern first and refunding 5
cent bonds provides that should the
f,oanv pay over TO the trustee an
n,,rt equal TO at least 100000, not in
.,nd,nc sinking fund payments. it can
a,,hdraw from the mortgage the John l..
~, Lumber Company securities. which
n,edged s collateral. So long as the
'.,,ober company's 100000 bonds are
,.aged acc )rding to the mortgage. a
ling fund of 100000 "a year must be
.,ointained. Including the expenditure OF
,ho nroceeds of the present issue of 5000
-, first and refunding 5s, the Norfolk
southern has made an outlay in the
ooousition development of the property
o,d subsidiary companies of about So
s.n0 which is nearly $l1.O00,0Oc in excess
- the entire outstanding funded debt
American Sewing Machines.
According TO the consular trade re-
rorts an American sewing machine com
,snv is so Thoroughly established in Rus
sis. where its factories supply the needs
If large area, that ii can be regarded
almost in the light of a Russian enter
mise at present. To certain extent the
~, he
states and Germany is brought in when
the transportation charges are not pro-
sib,ive Recently Swedish sewing ma
chimes which are much cheaper than the
American kind and which are considered
N be quite as durable. have attracted
mich attention and are beginning to he
factor IN the Russian sewing machine
trade.
United States Motor Distribution.
Announcement has been made by the
Reorganization committee of the United
States Motor Company and it's subsidiary
concerns that distribution of the amounts
o. cash payable under the plan and agree
ment Of reorganization are now being
made at the Office of the depOsitary, the
Central Trust Company OF New York, TO
holders of certificates Of deposit repre-
renting notes which have been admitted
y the committee as valid obligations. 1t
sexpected that distribution of the voting
trust certificates In accordance with the
plan will be made in the near future. and
later announcement in regard to such dis
trbuton will be made by the committee.
American Can Features.
In a special letter issued 10y Lee. Higgin-
son & Co., some points regarding the
American Can Company as an in
dustry have been set forth which
are interesting in view of the un-
favorable notoriety gained by Amer
lean Can securities as the result Of
questionable stock market methods. Some
OF the features presented are the follow
ing: Largest customer OF United States
Steel Corporation. Has forty-seven manu-
featuring plants and three machine shops.
Makes its own repairs and large part
Of its own machinery, but buys machinery
If cheaper OF better. Among largest Gus
toners are California Fruit Gamers
Association using about 100000 cans a
year; the Leose-WileS Biscuit Company.
Alaska Packing Association, Van Camp
Packing Company. sardine factories. to-
bacco manufacturers and paint and var
nish manufacturers In Eastport, Me, one
factory is operated for the Sea Coast
Packing Company. and manufactures sar-
dine boxes. The output is from 2co,cr.O0
10 100000 cans a year. All plants are
owned except four, namely, Boston, chi
cago. Kansas City and PASSPORT. Com
PAM probably does from IS TO 40 per cent
Of all the can business in the country
The Continental Can Company Is the
largest competitor. Honolulu has large
plant manufacturing exclusively cans for
plneapples. In Boston the plant Is leased
from the Boston Wharf Company on a long
term lease. This plant manufactures
cocoa. coffee and sardine cans. In VAN
couyer a plant has been equipped with
special machinery for the salmon ousi-
ness.