New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-04
BRIEF NOTES OF FINANCE
parauraphS of Current Interest
for the Investor.

o,to enOllnOgs part NmCh agriculture
in affairs of this country may be
P,eu.hat appreciated from the figures
So -, estimate about 100000 farms in the
va states. with farm lands covering
TO-, of 22J.O0 600 acres. not Including
~ acreages. This vast area must be
'.,.ivsted in preparation for the harvest
Of crops. The corn crop takes up the
.D.ost' acreage. next comes oats theh
iA'e These three crops represent prac-
- III. tgq o00OOO acres. In addition TO the
u'- lied standard crops there is a vast
So of wild hay lands not included IN
,soreeoinc estimate. and winter crops,
NV crrar acreage. both cane ana beet,
sS5ed 10 the other crops mentioned makes
total of more than So5ocoeW acres
L. cultivation contributing 10 the
wsalth Of this country
The Governments Income.
r.hue other institutions OF private and
,.,rnorated nature have been showing
,.,,ro,.en1eut in income. the United States
,..o.nr,eut has also been Increasing its
.oints For the nine months ending
v-ith Mafcn tlt oC' C 4iA'-'''e . up
now S26.S5eC0o. an increase Of $So,ooOco
-. che nine months of the previous fis-
-, wear. The expenditures. however, in
.-.,sed 100000 as a result OF the en-
,arred henson distribution. which totalled
@o- the nine months sl2S.ScO,0N, or more
d., one-ffth Of the revenue Of the gov
eminent from all sources.
a Good Record.
Ina circular prepared by Harold Palmer.
If Harris. winthrop 4 Co. on terminal
t,rds The subject is considered from a
.,.,rooirt Of investment desirability. based
,ba element of safety offered TO the in
.as,or An analytical deduction is made
I'D the following quoted paragraph Is es-
recally interesting:
I'm 10 the present time, with possibly
..s evception We know Of no instance
!. which the holder of terminal bonds
has suffered loss of either principal or
.~..ree, In three notable congratulations
.hoes Of the old Philadelphia d Reading
7srmjnal Railroad, the Schuylkill River
r.s, Side Railroad and the Chicago Ter
,r,oal Transfer Railway, when other Sc
c,rity holders may hsve suffered heavily
,,s holders Of the terminal bonds either
,oosiced mar and interest or had the UNI
orss,ioned guarantee as 10 principal ana
,o,erest Of some powerful railroad
..,,r,,od upon them. The Philadelphia *
psading Terminal per cent bonds are
now selling in lhe open market at a pre-
ri,in az over II points
Plan Of Reorganization.
Stockholders of the Indian Refining
COMPANY will shortly receive copies Of a
man Of denomination which the reorgan-
.zation committee has just formulated.
stockholders who have not so far depos-
tied their stock under the agreement OF
November J., 1912. are notified by the COM
wittee that they have renewed and eX-
tended the time for such deposits until
and including April 80. The plan OF reor-
rsniza;ion calls Cor an issuance OF $-.ovl'-
90 notes secured by a second mortgage or
deed Of trust bearing PEI cent interest.
paysble seni-annually, dated May ]. 1910
and maturing as follows: November l.
1913. $4,000: May !. 1914. $4,000; Novem-
Der 1914 $4,000: May !, 1914. Sjr'Wc' anu
On MAY /. 1915 $4,000 If the plan be-
comes effective each depositor will be en-
Titled 10 subscribe at s. per cent Of the par
yalce thereof for notes OF such issue due
Nav I. 1915. to the extent Of so par value
Of notes for each share Of stock repre-
sented by certificate or deposit Stock
holders who DO not deposit their stock
win BE- accorded a similar privilege. The
,ssh that will be realized under TINS
Plan. If s. 10000 par value notes are sub
scribed lor. amounts TO I,o23vp. ms
viii b. available for part payment OF the
present. loan of $2,1a.oco. The balance Oh
the loan, together with expenses OF note
Issue a-.d OF reorganization committee
viii be provided FOR by remaining notes
o. carrier maturties. amounting to $l'51V'-
"a par Talue