The Washington herald., 1912-06-28
PROFIT TAKING
CAUSES NO SLUMP
Standard Stocks in Demand, with
Advance in Steel
Common.
MORE SECURITIES ARE LISTED
By BARRON SERVICE.


New York, June H.-There was a reac-
ton from the high price Of "Wednesday
on the exchange to-day, mostly due TO
profit taking but in spite Of heavy SELL
ing soon after the opening prices did not
weaken much. There were a number OF
rumors about Norfolk and Western, in
cluding one that the per cent rate would
be increased to s per cent for future diVi-
dends. Erie issues were bullish because
OF the renewal of the speculative follow
ing in the common stock. General Elec-
trio made q new high record on rumors
OF pending disbursements Steel common
was fractionally lower at the OPENING
but scored an advance later upon the
prospects Of better earnings for the cur
rent quarter and because Of the interest
IN the stock induced by the recent ad-
vance in metal prices. After the opening
transactions in Woolworth common STOCK
at 81 it rose almost TO par. the highest It
has ever sold on the outside market De-
fore listing being 81.
With the listing to-day Of securities
having 4 par value Of 1904 TgI. 400 on the
New York Stock Exchange, the largest
total for a day since the Steel Corpo-
ration stock was listed, the total Sc
curities listed for the six months TO
June 30 were g, ,O92, $50, $50 face value. This
was divided beween railroads and in
the former, and SOS, ,O62, 76O by the indus
trials. The total stock listed was $685.
s24S $40, of which S23l, ,79l, 800 was preferred
stock and the balance common, railroad
shares contributing S99. Isl, 100 and indus
trials S6O0,6 40 Bonds listed had
face value Of Ss92. COS, go. Of which VS.
lsS,8OO was railroad bonds and SlO4.425, $50
industrials.
To-day's ustings f. cluded 6O,O0O,OOO pre-
ferred and SsOOOO,OOO common stock Of the
International Harvester Company: a5,-
100000 preferred and S5O,OO0OOO common
stock Of the F W. Woolworth Com
pany; 81, ,s2S, 800 preferred stock voting
trust certificates and S.520,oOO common
stock voting certificates Of the lnterna-
tlonal Agricultural Corporation; S3095,oo
preferred and 81, ,93l. 800 common stock OF
the Studebaker Corporation; S2r5OO,OO
preferred and SlO,5s9 300 common stock OF
the American Coal Products Company;
SIS 600, 900 securities Of the Loose Wiles
Biscuit Company, and S9,5 900 first mort
gnge bonds Of the Atchison, Topeka
and Santa Fe Railroad. The subsidiaries
CT the American Tobacco Company have
listed SlsS, 80 Of their securities since
the first Of the year.
In its report to the stock exchange the
F. W Woolworth Company showed ag-
gregate sales of l23 for 1911, Of
which S, ,O55 IS was saved for net profit.
Total assets are SIS, ,157.154, and excepting
for its capital stock. liabilities total
Sl57. 7.154. Quick assets total about $780,
O06
In the seven and one-half months after
the discharge of its receivers the Inter
national and Great Northern TO April 30
earned $3.50, ,O34 above fixed charges, equiv
aIent to the annual rate Of q per cent
on its S5.OOO,OOO preferred stock. An int
tial dividend is expected on this class Of
stock soon.
The Boston and Maine earnings for its
current fiscal year will be nearly 3 per
cent on its common stock, as compared
with one-half of l per cent for the 1911
year Dividends Of I per cent are now
being paid on the common stock.
The expected cable demand for money
for European half-year settlements has
not materialized here. partly because OF
the shipment Of 100000 gold to France
by Lazard Freres and partly through
the withdrawal Of 81. .76O,O 900 gold from the
Bank Of England for Germany. The New
York bank statement is expected to be
poor this week, but money does not re-
feet It here yet, and is easy to get be-
low per cent for call money with time
money a little more closely held, but
with rates unchanged.