New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-08
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

rho art Of allowing people to see them
-. &C others see them has grown to
:. profitable business according to the
,'..;dord records of the Eastman Kodak
o,a,,onv. The regular dividend on the
.,,r,on stock is 0 per cent annually. Since
.oor however. the company has paid
10 dividends each year as follows: In
,ooe 9IS per cent; 1907, 10 per cent;
ZOOS u per cent; 1909. 20 per cent;
90 OH. per cent; 1911. 80 per cent, and
,sto 90 per cent, and the company has
L. declared its regular quarterly divi-
II NJ pa per cent and an extra div-
"a Of 10 per cent, both payable on
,,r;, TO stockholders Of record Febru-
% In addition TO the common divi-
bends the preferred has an annual rate
=, 6 ner cent. which has been paid regu-
,ir,y since the organization of the COM
-. on october "a. 1901, under the laws
Of New Jersey.
Essy Money Coming.
povmond Hitchcock made hit with the
.o,o "Nnt 1t Funny What Difference
,,'s, Few Hours Make?' This idea
s,,,a he applied to the local money situ-
10, II Is only short time ago since
Ley was flowing out of New York to
,ho interior and high rates were threat
onad for both call and time money. Yes
,erdat the clerical forces OF many Of the
,oca, banks looked tired from working
overtime handling the large volume of
currency that is now coming back to
Nav York from the interior. Employees
AZ the New York Sub-Treasury are busy
in the redemption department until late
At night separating United States notes
and the gold and silver certificates that
are coming in over the counter for re-
denption. Recently s1,700.000 came into
the local Sub-Treasury. which established
q record day in this branch Of the bust
ness.
Attractive Dividend Record.
The publicity which the Chase National
Bank has been given in the last two days
bv the transfer of some Of its stock calls
attention TO the record of the bank as a
money making institutions 1t began pay
ing dividends in 1879. when 3 per cent
was declared; in 1850 per cent; 1881
"a. s per cent; 1SS5-'SS. per cent; 1859.
per cent; 1S90-9S. 10 per cent. When
the capital was increased from 100000
TO 81 600. 600 a dividend of 100 per cent
vas declared, which paid for the increase.
From 1899 TO 1901. - per cent was paid
in 1902, Is per cent, and from 1908 30
1906. % per cent. On December II. 1906,
the capital was increased from s1,O00.0OO
10 $4,000 900 through the declaration of
400 ner cent stock dividend. From 1908
to 1909 6 per cent was paid on the So
GOO, 600 capital. and during the last three
years 20 per cent each year has been paid.
Review Of the Security Markets.
In a review covering the 1912 situation
as affecting the security markets Spencer
Trask & Co. have the following final para
graph touching the immediate future:
AS TO the immediate trend Of security
values there seems TO be little in the way
Of actual information upon which 10 base
an estimate or hazard Il prediction.
Easier money may be expected in the
usual run of affairs comparatively early
IN the month, dependent, OF course, as TO
now soon the crop movement money re-
turns TO the larger reserve centres. and. In
addition. TO the future possible require
ments incident 10 the Balkan situation.
aianufa curing business has probably sur
Adent impetus 10 carry il along for some
months to come. and the railroads arc
showing more or less substantial Increase
in earnings. If these conditions contine
in force security values may be expected
to more nearly reflect them. but until the
probable course Of the first completely
Democratic Congress for many years with
respect to tariff revision is more clearly
indicated and the European situation
clarified IT would be difficult to indicate
any substantial basis for any sustained
upward trend in market prices.
Interesting Review.
An interesting review OF conditions af-
fecting railroad bond values has been
issued by Miller & Co. The subject is
especially attractive now. when bonds are
selling so low compared with previous
years. The relation Of -, food supply of
the countrysto low security prices and the
necessary liquidation Of low interest
bearing securities in order to secure a
better return on investments due to the
high cost OF living are discussed at some
length. One Of the practical points pre-
sented is a selection Of railroad bonds CIV
ing an income yield at present selling
prices from $40 per cent TO 5.75 per cent
Trust Company Record.
The 1912 edition Of THE Trust Com
panes OF the United States compiled
and published by the United States Mort
gage and Trust Company, OF this city, Is
now being distributed. This work is
valuable reference directory, showing the
resources and liabilities OF all trust COM
panies in this country alphabetically IN
dexed, with a digest of state regulations