New-York tribune., 1913-07-26
RP|EF NOTES OF FINANCE
paragraphs Of Current Interest
for the investor.

..;5ent from the official action OF
II ,.ore,ate Commerce Commission on
me s,ances, as just reported from
rate e., "D that the railroads are not
"ssn',9 Sovored with immediate assistance
" y ", direction. The suspension OF ad-
10 '''1 Yates on butter and cheese from
yahV'', delaware and New Jersey over
l0'H,1 n,,oware. Lackawanna & Western
tne atrs over the Norfolk & Western on
on .sao iron over the Louisville u Nash
N-7 ord on increases in bituminous coal
We, over eight railroads operating from
90 -. mining points all until January,
,rdicates the disposition of the COM
''.' ..., 20 weigh very carefully all appli-
H''.'v - for increases. and the deferred
'a'o~- rromiscs no relief during the re
lander of this year
The Turn Of the Tide.
dispatch from Boston yesterday stat
-. tho 81 600 no New Haven debent-
which are 10 be authorized next
III will be legal investments for Mas
'ahrsstts savings banks as soon as the
,..r. has received the sanction of the
,,.ssacbusetts Public Service Commmis-
-, Now that affairs have commen ed
:, mend with the New Haven and senti-
.nt has shown tendency 10 turn favor
-s,o the news will be on the side Of op-
,ioism II is only an invisible line that
..narates success from failure, and popu-
,,r acclaim will bring either at its bid
ding.
The Steel Outlook.
Tho better tone reported in the steel
,-s5e has given rise TO the prophecy that
,hs various steel companies during the
,.st half of 1913 will show as large earn
,,gs as for the first part Of this year.
vb,cb are expected to be around SS.0O0.000.
Dprlpg the last three months there have
tssn restrictions in orders, and for the
lsst six weeks a falling off In shipments
has been reported. A revival in some Of
,se branches Of the steel trade during
the last week has given hope to a con
bnuance Of the betterment for some
months TO come. II is said that agents Ct
the German steel corporations are look
ing into the situation here with a view
70 establishing business relations as soon
as the new tariff has gone into effect.
Generally speaking, steel men are not
regarding the prospect Of foreign compe-
tition with any alarm, Notwithstanding
that the tendency of the German steel
industry has been downward recently as
a result Of the slowing down Of business
conditions in Germany. In only a few
lines OF the steel trade is there liable 10
be much competition in this market until
the foreigners have been able TO equip
their plants to meet American require
ments. However it is not known what
effect the tariff will have. and all con-
lectures are mere speculation. Iron and
steel comprise one of Germanys i'm
portant industries, and its prosperous
condition has been due chiefly TO the sue
cesSful formation Of combinations for OBJ
tanning better prices. The one branch Of
the trade which suffered from the COM
petition Of different manufacturers and
was not included in the agreement-the
stove induStry-has been covered. A COM
bination Of German stove manufacturers
gives promise Of better profits In this
branch, although number Of the stove
works continue TO decline the invitation
10 join the combination