The Washington herald., 1912-05-29
WALL STREET NEWS
With Politics a Burning Issue, the
Market Assumes a Waiting At
titude-Expect Coal Decision.

New York. May 2s.-The stock market
hes assumed a waiting attitude and
speculation has dropped to a minimum.
The principal thing awaited is decision
in the anthracite coal case by the Su-
IRENE Court, and as that body is expected
TO adjourn next Monday for the summer,
II is probable that the decision will be
handed down then. Dull sessions are
looked for the rest of the week. The
cotton report appears next Tuesday and
the sale of $50, 10000 New York State
four per cent bonds occurs next Thurs
day, both Of which will be watched with
interest Following, there will be the
government report on crops, the Copper
Producers figures, and the untitled ton
mage report of the United States. Steel
Corporation. Political developments will
continue to play an important part dur
ing the next few weeks, but by the end
Of June, market followers at present IN
a state Of uncertainty, win be forced
to pursue some definite course.
movement to merge independent to-
bacco manufacturers with a capital OF
between S75,OOO, 900 and S1OO,OO0,OOO has been
started, and users Of 100000 pounds Of
tobacco a year have signihed a willing
ness to take part. About 40, 100000 pounds
are consumed in the United States every
year Of which 800, 900 pounds has been
credited to the American Tobacco Com
pany and subsidiaries, leaving 10000, 900
to independents. In the raw state 4o,-
100000 pounds of tobacco in the contem-
plated agreement would be worth ap-
proximately $S0.OOO0O0. while manufacture
and selling cost would increase this value
at least twice that amount.
Great Northern Earnings.
Great Northern officials have predicted
he rOad'g he. HeraI
year ending June 80 will be greater than
the $6l,257,6S3 gross earned in 1911, by at
least S per cent, or over S66 100 for this
year. All of this gain they expect Will
be saved for net. which will be at least
10 per cent on the sos, ,9S1,S75 capital
stock, as compared with SS4 per cent
available for dividends in 1911.
Although earnings have been equal 10
$40 a share on its preferred stock, there
is little chance OF an increase in Inter
national Paper dividends from to 4
per cent as predicted as oficIals Will
use profits 10 clear up some Of the conf
pany's debts this year
Another step in the reorganization OF
the Allis Chalmers Company, has been
taken by the Continental and CONNER
Cial Trust and Savings Bank, of Chicago.
which has asked for a foreclosure on the
Sl5,OOO0OO first mortgage. The applica
ceiver for the property covered in The
first mortgage. and that all property
involved be turned over to him by the |
receivers named last month. The COM
pany will be asked to pay principal E.rd
interest in full, following which. if pay
ment fails the property will be sold in
one parcel. The terms Of the reorganiZa-
ton were published several weeks ugo.
The application for a foreclosure is n
line with plans to put the company On
its feet again.
Deficit in AtchisOn.
BY the end of the fiscal year-June 80
Atchison will be considerably behind 1911
in net earnings, as at the end Of April,
1872, net was S1.S53, 146. for the first ten
months of the fiscal year less than for
the same period the year before. I'm
proved earnings during May and June
will cut down part of this loss.
National Carbon Company's earnings
for 1872 are running about 40 per cent |
higher than for the first part of 1911. |
At the present rate, net earnings by |
December 81 will equal nearly SlOOO,O00 |
or IS per cent on the $500 900 common |
stock. as compared with Il per cent in |
1911. An extra dividend has been pre- |
dicted. payable during the last half Of |
1872, or the first part of 1913.
international Harvester stock has been |
used as a football! recently. No one hav-
ing large blocks of the stock is offer |
ing any. while the outsiders are not I