New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-18
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

The improved condition of the bond
market, the reported success of the Balu-
more & Ohio issue and the favorable out
look of the American Telephone and Tele-
graph Company's financing have paved
the way for other announcements Of new
offerings. 1t is not unlikely that the St.
Paul may soon be out with an issue Of
convertible bonds if the investment mar
kct continues to improve. At the present
time there is in the st. Paul treasury
sl5G0O,OOO Az per cent convertbles out of
an authorized issue of 100000 and It is
reported that these remaining bonds will
be offered at par In the near future.
Chino Dividend Outlook.
Holders Of Chino Copper are interested
in the date when the directors Will meet
for dividend action. Referring to this
question. Thompson Towle < Co. say:
While apparently no definite time has
been set for this meeting, we understand
from one of the directors Of the company
that IL is quite likely it Will take place In
February at the same time as the Utah
Copper and Nevada Consolidated directors
meet for dividend action on their stocks.
Some time ago 1t was given out that
Chino would probably inaugurate divi-
dends at the rate of 81 a share year.
and while no decision has been reached
concerning this, there is a growing belief
among the insiders that the amount Will
depend entirely upon the copper market
The best opinion is that the initial divi-
dend. which viii probably BE a quarterly
payment. will be either at the rate of g
or 81 a year"
More Can Stock Coming.
The can industry is growing. II organi-
Nations are an indication. The CONT
mental Can Company which was incorpo-
rated at Albany yesterday. will have a
capitalization Of 81, 500 Geo. consisting Of
100000 common and $500 600 preferred.
OF this there will shortly be an issue Of
$4,000 common and s5.500.O0O preferred
stock. At meeting TO be held next week
IL is expected that the Export and Do
nestle Can Company Of New York will be
taken over by the Continental company
The Continental company was originally
Incorporated in New Jersey IN 1904. with q
capitalization OF $4,000 900. When the CON
solidation has been effected and business
ARRANGEMENTS are completed the promoters
expect that the new company will be
strong competitor for the American Can
Company.
Underwood Typewriter Profits.
Nowadays an Office without a type
writer and a telephone IS the exception In
the important business district. The eN-
tent to which the typewriter has come
into use is shown by the earnings Of tyne
writer companies Official figures Of earn
ings bv the Underwood Typewriter Com
uauv show an increase in net profits since
rqlS of impressive proportions. In 1908 the
net profits were &i3S.754; in 1902 SIo3,65l; IN
1910 81 O07. 81. in 1911, Sl,27T596. and in 1872,
estimating December, the net pronjs VII!
show about 81. 10000. The capitalization
If the company consists of 100000 COM
mon and 100000 preferred. OF the COM
mon stock there IS $4,000 outstanding.
rhe preferred is all issued. The common
stock DAYS a dividend of 1 per cent 50
THAI after the payment OF per cent on
line preferred the net profits show about
1s per cent earned on the common. The
charter Of the Underwood Typewriter
iompanv provides that sinking fund Of
hot less than 10000 q year shan be sal
aside out OF net profits TO be used annu-
ally I'm the purchase and redemption OF
the preferred stock at the lowest market
price in a public or market sale. Inc
common stock is entitled 10 receive a
dividend Of ( per cent until 100000 has
been accumulated in the sinking fund
when the common stock IS entitled % fur
Their payments at the option Of the di-
rcctors. The company has no bonds or
funded debt