The Washington herald., 1912-07-26
CHEMICAL COMMON
GOES bALL00NING
Advances Twelve Points to Highest
Price on Record-General Tone
of the Market Strong.
AMERICAN ICE ADVANCES S
By BARRON SERVICE.

New York, July 25.-while there were
few weak spots, the general tone OF the
market to-day was good. General Chem
ical common stock created a sensation by
advancing twelve points to the highest
price on record on the first sales Of the
day at IT, There We're not any rumors
of extra disbursements TO help the ad-
vance, but as the stock Is a very closely
held speciality, the advance might nave
been manipulated. This stock ana
the decline in National Biscuit were due
to the great strides that the Loose Wiles
management are making in the biscuit
and cracker business.
Pool operations helped American Ice
to an advance of full point on the hrst
few transactions. International Paper
issues were weak due to overbuying on the
recent rise. Consolidated Gas advanced
in anticipation of the declaration OF an
extra dividend at the directors meeting in
the afternoon, but after that meeting
had been held and the dividend de-
clared only at the usual rate, the price
fell again. General Electric jumped rap
idly after the declaration Of the 30 per
cent. extra dividend. Although there
were some declines in sales between the
higher ones representing profit taking.
Texas Company was strong.
The General Electric Company directors
declared a 30 per cent extra stock divi-
dend to-day, which will bring the out
standing capital stock from SI,6oO.OO0 to
over 800 o00, 600. The recent strength Of
the stock has been based upon the knowl-
edge that this increase would be made,
and that a stock dividend would result.
The authorized capital stock will be in
creased from $50, ooo, 900 to s1O5. 100000. The
dividend will be paid for by the COM
pany's surplus account 1t is given to
partly recoup the stockholders for divi-
dends which have been passed or reduced
since 1893.
Chemical stock soars.
General Chemical Company stock has
been making phenomenal gains on the
market recently, and 1t is due largely to
the strong financial position of the COM
pany. Net profits have increased each
year at a steady rate, going from s1,221,-
S37 in 1905 to s., 49, $50 for 1911.
Directors of the Consolidated Gas
Company at their meeting to-day failed
10 take any action regarding the extra
dividends which will eventually be given
stockholders to make up for the reduc-
tion in the rate from 1903. They merely
declared the regular disbursements, but
interests in touch with the company's
affairs say that 1t is practically GER
tainty that the back dividends will be
paid in the near future.
The annual report of the American
Glue Company for the fiscal year ended
May 81 showed net earnings of S242, ,4s3,
the smallest for any year since the 1903
fiscal period. During the year the float
ing debt was reduced from H,25S,si5 to
S50,Ss0, and further reduction will be
made during this year.
Time money rates for the longer ma
turtles have advanced slightly within
the last few days, although call money
and short time loans are still given by
the banks at the prevailing easy rates.
The United Cigar Stores Company OF
America was Incorporated at Trenton to-
day with an authorized capitalization of
So, 100000. consisting Of $50, 1000, 600 common,
and S0o0,0o0 per cent preferred stock
Only sT,000,0 900 common and s4,50Oe 900 pre-
ferred will be issued at this time. the
balance being held in the treasury for