The Washington times., 1907-03-21


bership has been sold at S12,5OO. The
previous sale was made for S11.5O0.
II IS figured out that Union and South
crn Pacific will. this year. earn about
l6 per cent on their $393, ,296, 600 outstand-
ing common stock.
The members. of the New York cotton
exchange have voted to close the ex-
change on Good Friday, and the fol-
lowing Saturday. The coffee exchange
has also taken the same action.
The earnings of the Tennessee Coal
and Iron Company since the first of the
yc2r have been considerably in excess
Of The corresponding period Of last
year. Last month earnings were larger
than in January, Notwithstanding the
smaller number of working days in
February.
The report Of the United States Steel
Corporation for the year 1906 seems to
show that the earning power Of the
company since it's organization has in
creased about So, 10000. through in
creased production a sum equivalent TO
more than 10 per .ccRt on the 500, ,302 500
common stock outstanding.
As a type of excellent business which
investment houses have done on the
recent break il may be said that
prominent New York brokerage house
bought Tor customers E1 odd lots of
stock on Thursday 257 on Friday, and
l95 on Saturday. It need hardly be said
that this is the finest kind OF investment
buying, and the smaller the lots are
the better it, is.
Directors Of the Corn Products PcRn-
ing Company have declared the usual
quarterly dividend of l per cent on the
preferred stock They also declared a
dividend of 3 per cent on the preferred
on account Of back dividends This
makes the full per cent for the fiscal
year ended February .. 1907. the total
amount to which the stock is entitled.
The preliminary statement of the com
pany for the year shows a small surplus
after the payment of per cent on the
preferred stock. interest. depreciation.
etc, and expenditures Of about 81 $50 900
for new construction.
The directors OF the Rubber Goods
Manufacturing Company, which is con-
trOllcd by the United States Rubber
Company. have decided TO discontinue
dividends on the common stock They
have deemed this advisable in view of
the pending liquidation of the company
TO be- followed by a merger with the
United States Rubber Company
The annual report Of the Texas and
Pacific Railway Company for the year
ended December 81. 1906. was made pub
lie. and shows an increase of s. .7S4 2lE
IN gross earnings and 81 .l39. $50 in net
Expenses We're increased by 81 81. 50.
The surplus. $l.J64.2f3, is equal % per
cent earned on the capital stock of
$3S,765,Sl0
A meeting of Stockholders Of the
Deepwater RAILWAY Company has been
called for April % TO vote on PROPOSE
tion to merge with the Tidewater Rail
way Company, both Of which are being
built by II II. Rogers The Deep
water road is ll2 miles in length. ex-
tending from Deepwater w Va. to
Glen Lyn, near the Virginia State line.
The new business Of the General Elec-
trio Company. since the first of Febru-
aTy. has exceeded all records for that
period. running % per cent I'm excess
OF orders received in the corresponding
period of last year The foreign bust
ness OF the company is also large, and
the increase reported since February l
corresponds with the increase in do
mestic business.
The statement that the Republic Iron
and steel Company will start dividends
on it's common stock this veaI. is oUes-
toned. II Is said TO be the purpose of
the management 70 spend surplus earn
ings for some time to come FOR exten-
sions and betterments. Ii Is wei known
that the Republic has under considera-
tiOn comprehensive plan for exter-
SloilS. ana Nlidt many fnllllOnS OF dollars
will be spent IN increasing the capacity
of the plants within the next few Years
The bargain-hunter has made his an
rearance in Wall Street. The charac-
ter of the buying seems to indicate this.
4 canvass of the large investment
houses indicates a large increase in buv-
ing orders. particularly i'm odd lots
Foreigners also are in the market. and.
although their individual purchases are
not large. such things as these tend TO
assist in building up a good foundation
for the market.