The Washington times., 1907-04-07
NEW WORKSHOPS, BONDS, AND MONEY WASHINGTON
FINANCIAL GOSSIP.

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The Pennsylvania railroad pays nearly
81. 100000 yearly dividends to an army
of more Shan 1900 persons.
There is no doubt that money-what
there is Of tits working easier. both
here and abroad.
Commercial failures in Argentina dur
ing 1906 represented. in capital lost. only
$50. 161.Sl4. against $4,000, s04 in 1897.
Directors Of the Bethlehem Steel Cor
poratien viii meet this month to act on
dividends on the preferred stock. While
no decision has been reached as 10 the
rate that will be cleared. the general
opinion is that three-quarters of per
cent, the same as in the two preceding
quarters. win be agreed upon.
Americans invested s50OO00o0 in Mexi-
car mines during 1905. according 20 an
estimate quoted by the Mexican Inyes-
tor. This money was for the purchase
price OF the mines themselves. and does
not include expenditures for machinery.
labor. and operating expenses.
There is reason to believe that the net
earnings for the current quarter Of the
american Car and Foundry Company,
which ends April 80 win be in excess
or those OF the last quarter. The net
earnings for the last quarter amounted
u $780, s2 and were the largest in the
companys history. The best previous
record was s2i52, s45. made in the fiscal
year Of 1892.
An official statement issued by the
New York produce exchanges says in
part: II is not the intention or desire
OF the produce exchange to eneroach In
any way upon the business of the other
exchanges. In other words. II IS pro-
posed TO list only such stocks and in
dustrial securities as are not listed on
the stock exchange. and trade only in
the best stocks traded in on the curb, %
adding other stocks OF substantial. I'M
questionable standing.
Conservative men have endeavored to
impress upon the minds Of those who are
apt TO be overenthusiastic in Steel COM
mon that the outlook for an advance In
the dividend rate on that issue in the i'm
mediate future Is not too bright That
the raise in the rate viii come this year
may be predicted with some confidence
although the directors Of the company
are not saying anything.
Some OF the Montreal Canadian Pa
eihc railway interests are in favor Of
removing that stock from the New York
stock exchange, owing to the manner
In which II has recently beer manipu-
lated. They admit, however. that the
undertaking would be a very difficult
one. They maintain that the standing
Of the stock as an investment is seri-
ousiy affected by such movements as
have recently occurred
The books OF the New York Central.
which are now closed for the purposes
Of the annual meeting. 10 be held Auril
H. VIII reveal that the stock Of the
company IS owned by approximately
1900 persons. No exact figures are
available as 10 the number OF small
holders, but 1t must be large, since on
the basis Of 10000 stockholders the aver
age holding would be about $50 shares.
The individual holders OF Lake Shore
number 100 or 500, and those OF the Mich
igan Central 500 or so.
An excellent showing was made by
the United States Rubber Company in
the annual report for the fiscal year
ended March p. The company's net
earnings for the year, with the March
profits partially estimated, reached
S4,405,S73. The net earnings for the last
fiscal year show an Increase Of $4s5. s75
over those for the previous year, which
aggregated g. $50. fsS.
The question of merging the Republic
Iron and Steel Company and the Tennes-
see Coal and Iron Company. the inter-
ests Of which are identical. VIII be taken
Up in July, after the per cent IN back
dividends which remains on the pre-
ferred stock Is paid of. The Republic
Company recently acquired a tract OF
land in the South which is estimated 20
contain q, co., 900 tons of iron ore. The
fact that the Republic Company has
strengthened itself from the standpoint
of raw supplies viii enable the two
companies to make an exchange OF stock
on a more equitable basis