New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-13
BRIEF NOTES OF FINANCE
paragraphs Of Current Interest
for the Investor.

,uhUays owned by the municipality.
%, leased to private parties. Considera-
~. ;s now being given by sub-commit-
80 Of the local transportation committee
:, that city 20 the question, after which
ortract will he framed jointly by the
-nssutatives or the railways and the
l,..,o-ation Counsers Office For some
.,.,a mast there has been an agitation i'm
~ of subways for Chicago to cover
aovntown business districts. and sew
-, months ago Mayor Harrison present
- 20 the city Council ordinances covering
,,s proposed measure.
Easily Encouraged.
All that is necessary I'm Wall Street is
-. tho stock market 20 display some life
su the street with rumors regarding
s,actiye dividends. melons 70 be cut
- the high prices to which securities
u, destined 20 rise before the particular
,',vard move will have finished its flight
vsstsrday Union Pacific was a central
s,rrA and not only were stories re-
rsra,nr a cash distribution floating
.,ourd but traders suddenly discovered
cha, the stock Is cheap, and that there
sser,s TO be nothing in the way Of its
-,sa 10 various high points up to S200 "a
share The professionals were encouraged
Nv the signs of a bull market, and they
haesr to yet busy with various issues in
ending rails. industrials and specials,
svsn Pacific Mail enjoyed a little outing.
southern Pacific was given a boost by
snaculators who were positive that this
.,ock was In for a big advance. II was
9 dsv when the bulls were plentiful and
al sorts OF stories were going around
which. OF course. are always essential TO
stimulate an interest and make active
trading. II is the uncertainty OF the mar
kst as II is the unknown result Of base
hal, series. that insures a following.
Costly TO Southern Buyers.
Tn. advance IN the price OF cotton dur
inp the last few months since the post
nonement Of the proposed future tax has
called forth comment by interests closely
Identified with the cotton textile conditions
They think that the action OF Congress
has already cost the Southern manufact-
,rers many millions Of dollars on account
Of the scare which anti-future legislation
has thrown over the cotton market. As
one observer sees IT. Ordinarily the
Southern mill buyer waits until the new
season begins 10 do his buying. -Four
months supply for the South equals
10000 bales, and AZ an increase of 80
hale the Southern mills would pay $1,000
90 more for cotton after September /
than they could have gotten 1t for before
mat date by resort TO hedging against
mill commitments to deliver yarns or
cloth Neither the North nor the foreign
world buys in this way, so that the bur
den has been thrown upon the South
mainly by its own members in Congress.
Many Roads Not Ready.
The agitation for steel cars is being
carried on beyond the point of reason
according 10 many practical railroad men,
in view of the conditions obtaining on
many lines where roadbeds are not yet
lifted TO carry extra heavy equipment
Vice President Park Of the Illinois Cen
trail at the convention of the road mas
ters touching on the subject. among other
things said:
a railroad manager would be criminal
90 put money in expensive track eleva-
ton. separation Of highway crossings o.
steel cars if the road had only sand bal
last. wooden bridges, inadequate drainage
and protection against Washouts ana
landsides. items which are well known
10 the practical operating officials as
heinz those which should receive first
consideration
1T is absurd 10 expect stockholders 10
20 without dividends indefinitely TO pro-
vide for the betterment Of railroads from
which they will not be- permitted to OBJ
tain any additional returns. The greater
part Of them are poor people, who live
on the income from their investment"