New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-01
BRIEF NOTES OF FINANCE
o,raoraphs of Current Interest
for the Investor.

.ordinc TO Phillips. Politzer & co.'s
., the London fur seal conditions
asol trade during 1912 was fairly sat
' but not as active as IN former
isi'' For the wearers of sealskin coats
ne that the quantity is annually
t' ting will not be very encouraging.
os' In nrobably mean higher prices in
fr,pro. Had it not been for the back
~ season the year 1912 would probably
W. heeu counted as among the most
.r,,,s so far as the fur trade as
.Sole was affected.
~ development of rubber In German
,,rica has shown a remarkable eX-
East AFRICA NC.
ransion since 1910
..,a- first export of plantation rubber in
az amounted TO about 90 tons OF 2'24o
,ds each. increasing to 81 tons in 1905
y, IONS in 1909, 46 tons in 1910 and 61o
IN 1911. During the sudden rise in
s.nher prices in 1910 many Of the German
80, African plantations passed into
Itch hands and the owners realized
'"s nr,ces. which enabled them TO estab-
gsh new plantations
ueneouen plants were first imported
,..r, North America in 1893. The East
.sr;o.n climate seems better suited to
49,, growth than in the Western Henri
go In the latter climate it takes the
'.r,. Ave to eight years to mature. while
A.. East African coast they mature In
80. than four years. and propagate
,.,,.r leaves which give finer fibre. The
~no-t, have increased from 1000 tons In
-oa 10 Il. os5 tons in 19n.
w.us Of business men concerning the
..rrsrriaI outlook and the probable
.r.et OF tariff revision. secured by the
,u,,,tn National Bank. have brought forth
-. following In its monthly letter, issued
to-day.
n. country are not looking forward with
..4ous forebodings to the new admins
,,,non. II is expected that the President
.I,et will give a safe and sane admins
...aon and one calculated to build up
...,ne, than 10 tear down enterprise This
,,.,,rr "a almost universally held.
"second-Uncertainty because OF ex-
,.cted tariff revision is unquestionaoly
soldine I'D business in a few Industries
M, these are Industries that would De
crafty affected by lowering OF the
,u,,es The feeling Of manufacturers IS
~, a, all one OF fear that their business
ill, he r, ined, but, on the contrary, the
o,,,,on "a that revision will be conducted
sanely and with view to disturbing busi-
n.ss as little as possible. The knowledge
that the schedules are to be changed with
IN a few months, however, leads naturally
70 some cautious buying. 1t is generally
az, that the work Of revision should be
u,shed as rapidly as possible. so that the
ner,od OF uncertainty may not be pro-
onged.
'Third1Taking the country at large IL
NAV be said that the area OF disturbed
business is relatively small, and such
branches of industry as are affected rep
resent but a small proportion OF the whole'
|, is significant that from some centres
where local industries would be anected
bv reduction. comes the assurance that
tariff revision has been largely discounted
so that when new schedules are actually
announced there will be little further ad-
justment required.
"The disclosures Of this investigation,
therefore, 40 far toward refuting the
theory that the country is witnessing
gradual slowing down of business IN all
lines. Such a theory is unfounded, ana
the information which this bank has re-
eeived shows conclusively that general
business not only continues good. but that
merchants, manufacturers and corpora
ton managers everywhere expect II TO be
much better"
An Extension Of Time.
The United States Rubber Company an
nouncss an extension Of time TO February
is Of it's offer Of December u, 1912. to
exchange its first preferred stock for sec
ond preferred at the rate of three shares
Of the former for four shares OF the lae'
tr. The original offer expired to-day,
January 81 In an official circular ~ is
explained that the extension Of time was
grantsd because Of the unavoidable delay
Of over one week in listing on the Stock
Exchsnee the first preferred stock 10 be
ISSUED IN connection with the offer and IN
the issue Of the same. The Same ex-
tsnsion Of tirns has been granted in con-
nscticn with the offer Of the United States
Rubber Company to exchange It's first pre-
fsred stock share for share for the pre-
,fsned stocf Of tho Rubber Goods Manu-
fAcenhng Company outstanding. The
reason Is tne Same az IN the case Of the
ether offer.