The Washington herald., 1912-08-07
PRESSURE FORCES
STOCKS DOWN
Market as Whole, However, Shows
Little Activity-Steel Com
mon Affected.
TRACTION STOCKS STRONG
~ BARRON SERVICE

New York, Aug. 6-After an active and
frm opening. little selling pressure was
put on stocks to-day and forced prices
down trine before the market relapsed
into dullness in the afternoon. Steel
common was the most affected by the
pressure, although II recovered somewhat
after the selling let up. New York trac-
tion stocks continued among the strongest
features. International Harvester pre-
ferred was strong. owing to the favorable
attitude taken by the market to the COM
pany's defense to the governments suit
Studebaker common and American Malt
preferred made new high records.
With June reports Of gross and net
earnings coming in from many railroads
the complete returns for the fiscal year
are available. The Missouri Pacific
showed a deficit after all charges In net
of 2.lo0,0 600, as compared with a balance
a year ago Of s1.os2,0oo. The Denver
and Rio Grande showed a surplus after
charges Of H.ooe.e1s. as compared with
2,2S3,oi3 for the 1911 year. The Rock Is
land net after taxes was 15,003. 521, as
compared with S6eg7 {l3 the year before
The Chicago, Milwaukee and St Paul
net after taxes was 81. .532.3 345. a decrease
of nearly $,0oo.00o The Chicago, Mil
waukee ana Puget Sound after taxes was
S.67s,4i5. small loss from 1871 figures.
The Texas and Pacific operating income
of s2.sss,61s showed a small increase.
The Cleveland, Cincinnati. Chicago and
st. Louis year showed sS.775.s5s net after
taxes, an increase of s1,2o6.0oo over 1911
returns.
The United Fruit Company will in
crease its capital from s35, ,0o1 900 to $s5,-
100000 and issue to stockholders Of record
September 1e one new share for each
five held for $50 a share. The old stock
is worth little over 500 a share at
present. Recently the company has de-
clared dividends each year of 10 per cent
extra in cash, which could be applied TO
the purchase of new stock at par. The
present proposition will need the stock
holders ratification before it becomes
final The stock has given the holders
who purchased in 1907 or prior TO 1t an
average of 50 per cent a year in returns
during the last five years.
1t Is understood that the Toledo, st.
Louis and Western headquarters will
soon be removed to Toledo. and that
either Vice President Ross, of the Alton,
or former Vice President Morse will sue
ceed T. p. Shonts as president. although
the name Of President B. A. Worthing-
ton, of the Alton. has often been spoken
of for the Glover Leaf, also as Mr..
Shonts was formerly president of the
Alton also. He is retiring from this line
of activity to devote all of his time
TO New York traction affairs in connec-
tion with the new subway work.
The Delaware and Hudson made new
records for monthly gross and net in
June The net for the fiscal year, how
ever. showed loss of sS5s,0O0 from 1911
figures The 1872 net after taxes was
s311Sg7s
The Lake Superior Corporation earn
ings are running better than last year
and the prospects of earning the full
per cent interest on the 5000, 600 sec
ond income bonds are good. This inter-
est is due October J.