The Washington herald., 1912-08-21
COPPER STOCKS
IN G0OD DEMAND
Prospect Of Dividends Helps These
Specialties Along-Union Bag
and Paper Advances.
WILL RETIRE DEBEHTuREs
BY BARRON SERVICE.

New York, Aug. 2e.-It was another
market of specialties that dominated to-
days esession on the Stock Exchange.
Copper stocks in particular were In de-
mand on continued good trade condi-
tons and the prospects for Increased
dividends. Anaconda was exceedingly
strong at more than a point advance
on the semi-official report that the stock
at the next directors meeting would be
placed on s. dividend basis. the same
as now paid by the Utah Copper Com
pany. The same report indicated that
the Utah management would likewise
raise its dividend beyond the s. rate.
Nevada Consolidated and Amalgamated
were also slated for bigger disburse-
, ments.
Pool operations in Union Bag and Paper
common and preferred continued. Sew
eraI months ago Union Bag and Paper
common was assadvanced from an obscure
position to around SIS per share, from
which level it declined sharply TO below
L. AS members of the pool had no op-
rortunity to unload 1t was thought prob
able that the stock would again be put
ur to that leyed, and it crossed Is during
the morning session. London was no
factor IN this market Notwithstanding
the squirt in activity and strength. The
Quincy Mining Company declared a reg
ular dividend Of S1-25 a snare, thereby dis
appointing the street, as earnings would
have warranted a larger disbursement.
Bethlehem Steel Company produced
during the half year to June 90 sl9.-
OG7.305 of new business as compared
with s13,5si,2s5 year ago. gain OF
over 40 per cent. From present indi-
cations it would appear that the com.
pany this year will establish a new high
record of earnings of between SIS, COO. 900
and sss,000.0oo. II the higher figure were
realized 1t would mean a gain in sever
years of 10 per cent, an annual average
Of over sS,ooO,ooo.
To Retire Debentures.
Central Leather Company will have
retired the last of the United States
Leather Company debentures by May ]
next. and on this date also there will
probably be only few scattered shares
of the old United States Leather CON-
pany stock remaining unexchanged ac-
cording to the terms of the reorganiza-
tion plan put into effect in 1906. There
were s5,2s0,0o0 of the old company's
per cent debentures outstanding when
the Central Leather Company was
formed. and for their redemption, at no
So COO bonds of the Central Leather
Company's new s45.0oo, 900 mortgage were
reserves
In selling up to 80 and establishing a
new high record. the common stock OF
the United States Industrial Alcohol
Company reflected the better earnings
OF the corporation this year, and the
expectation that the shares will be
placed upon a dividend basis in the no,
distant future. Pool operations have
also helped the movement
Net profits thus far in 1872 have beer
far ahead OF last year and indicates that
the complete fiscal year, which ends De.
cember a. may show about per cent
earned on the common as compared with
ace per cent in 1911 and 2.0s per cent in
1910. In the event of dividends the Dis
ttllers Securities Corporation will be the
chief beneficiary. as through the Distilling
Company of America it owns 81 per cent
of the U. S. Industrial Alcohol common.
The low for the year, rs. was touched
January 81.