The Washington herald., 1912-06-05
INSIDE BUYING
BOOSTS TOBACCO
Carries American Company Com
mon to Highest Point Since
Listing on Change.

New York, June 4-Inside buying has
been largely responsible for the advance
in American Tobacco Company common
stock, which has carried the price to
the highest level touched since the stock
was listed on the exchange January IS.
The general public has been buying eau
tiously, as there have been several dis
appointments in American Tobacco diyi-
dends recently and the rumor that the
directors will declare a 35 per cent scrip
dividend may prove TO be false. d.
rectors have admitted, however, that
such disbursement is under considera-
tion. The company has been in a posi-
tion to make a large cash or other
disbursement since dissolution, as its sur
plus was replenished by payments from
aggregated subsidiaries when the decree
Of the Supreme Court became enectNe.
United Cigar Stores stock has been fol-
lowing the pace set by its former parent
company and is rapidly advancing, al
though still far below the high record
made in 1911. The company will make
some form Of disbursement TO stockhold-
eTs during this month or next, according
20 report, and President Whalen has ad-
mittNd that there will be something done
for shareholders this year.
Await Court Decision.
Besides the Reading coal lands case
the Supreme Court still has the decision
in the Union Pacific-SCuthern Pacific
merger suit to render and it is proba
bic that both decisions will be handed
down on Monday, June 10, as that is the
last session for decisions before the court
takes its summer vacation The Circuit
Court Of Appeals decided that the merger
Of the two lines. the Oregon Short Line
and the Oregon RAILROAD and Navigation
Company. and others was legal.
Brooklyn Rapid Transit Company earn
ings in May showed only the slightest
increase over those OF the month in 1911,
due 10 adverse weather conditions, but
gross receipts have averaged over 800
900 a month increase over 1911 for the
first eleven months of the current fiscal
year. To MAY 81, increases have tOtaled
g. Clg.G5O over the same period in 1911 for
eleven months.
Earnings OF the International Nickel
Company for its fiscal year ENDED March
81 1872. were S4.S66. il3, after expenses,
decrease Of Sl6O coo. Dividends on the
common stock were the largest in the
company's history, aggregatinE S2.l+.h2
on the Sll.5S2,G26 common stock
street FnVorabIy Surprised.
The Street was favorably surprised
with the April statement Of Missouri
Pacific earnings, as the gross increased
E2jCOO and the net $lSSNN. OF Il per
cent. where a decrease was looked for,
owing to the unfavorable operating con-
iitions or the road due to floods. For the
ten mCnths to April 90 the increase in
net income as compared with the same
period the year before Is $4,000.
The Chicago Rock Island and Pacific
Railway Company earnings for the fiscal
year to June % will he over per cent
end 4 81 Der cent will be paid as dividends
to the holding railroad company. The
payment will be $3,3S5, So or barely enough
to pay the latter's interest on the funded
debt.o raunting to nearly 7s,SO0,O0O.
Fol z the interview with President
McCo. y, X. Of the International Har-
vezter c .mpary. in which he stated that
lO0OO mcre reapers had been ordered
made in addition to those originally
planned for this years requirements, the
s-7-- 4 the company registered a sub
..sar.g advance to almost the high
--.nsG point fOr the year.