The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-07-07
MARKETS TEND
TO IMPROVEMENT
While Bear Influences Predomi-
nate, Little Activity Is to
Be Expected.
COPPER STOCKS ADVANCE.
By BARRON SERVICE.


New York. July s.-while the marke,
was duh to-day. and in places a little
weak there was tendency in the d.
rection of Improvement. Traders said
that there win be very little activity
while bear influences predominant. and
point to the fact that recent raids have
not brought out any stock. Some Of the
standard issues were strong, most no.
tably Southern Railway stocks. while
Steel common and Reading scored ad-
vances. Copper stocks were little bet
ter than on Friday. Renewed strength
in General Electric was a continuation
of the advances started with the nrst
report Of pending melon cutting" New
stock Of the American Snuff Company
sold at a new high record.
The reorganization of the Pere Mar
quette can be accomplished with S,coO.-
900 new capital, although those having
this action in charge have not as yet
determined whether stock assessment
or some other move will be necessary
TO raise the money. J. p. Morgan & Co.
have owned 10000 shares Of the COM
mon stock of the road for number OF
years. but they may dispose of this
block OF stock 10 Newman Erb, VINO re-
Gently became chairman Of the board
OF the road and later one OF the re-
ceivers, after an absence OF eight years
from a position connected with the ROAD.
The operations Of the fiscal year to June
50 were conducted at loss, but as most
CT this loss occurred prior to the ap-
pearance of Mr. Erb, and the road Is
now operating at a profit 1t is thought
that II will be a money maker II the
- A dafailad
statement of expenditures, prepared as
an answer to accusations against the
MANAGEMENT, will be issued soon This
Will show Just where all OF the $1,000
900 spent on the property from lSe TO
1911 went About 100000 Of this was
spent during Mr.. Erb's former manage
ment, which terminated in 1904. About
half of the total expenditures during the
ten years went for equipment alone.
Can Declare Dividend.
The annual report of the Virginia Car
DINA Chemical Company for the fiscal
year ending May 81 shows sS.5T.i52 net
earnings. as compared with s3.isS.SSo for
the 1911 fiscal Sear. After interest and
preferred dividends were paid there was
balance 81 ss16-5ii. equal to as per
cent o,./the 81, 9Si, 400 common stock.
~---~
aftxf that payment sT.G22 was added to
tA surplus. This item at the end or
lie year totaled 50. i5l .gl5. The balance
sheet shows s1s.SS7.1G total assets. An
increase of over S4.3oo.O0o, principally
through increased real estate ana IN
yentories There are over s62,OO oW out
standing securities OF the company.
Quick assets showed surplus Oh ABOUT
s22 coo. 900 above Immediate liabilities
11rr1t
the United States Motor Company are
considering plans for increasing the
working capital OF the concern. Lack OF
working capital has been a defect of the
corporation since organization. Other
wise. the company's finances are declar-
ed TO be in good shape, although the
stock has been at a very low Level since
the recent extension of ninety days on
commercial paper falling due was grant
ed by bankers holding IL An authority
on the company's finances declares that
4, could liouidate its entire Indebtedness
within six months, including the $500
BOO debenture bonds. at full value and
still have an equity OF full value be-
hind the preferred stock.
The 900 United Copper Company,
the imitation of whose shares was one OF
the main factors in bringing about the
1907 panic, will be reorganized
In spite of the strength OF Tobacco ana
Oil shares since the dissolution of those
trusts" the recent weakness in United
States Steel Corporation common stock
has been attributed to a fear that the
government would bust" the steel COM
tination.
The Locomotive Company of America
has sold 100000 first mortgage Per
cent bonds to a New York banking syn
dictate.
Net earnings of the Atchison, Topeka
and Santa Fe for the year Just ended
will equal over Sc per cent on the
common stock as compared with SO per
cent a year ago.
Stockholders Of the Royal Bank of
Canada voted the increase of capital to
Sc. 100000 which makes it the largest
hank across the border, although the
Bank of Montreal will soon increase its
capital tc the same amount, and the
equal of the largest banks of this coun-
try in capitalization.
Net earnings Of the United Fruit Com
pany for May and June were about
50 900 900, while the greatest years earn
ings previously were only about $4,000, 900
net
Southern Railway preferred has been
very strong recently. as the dividend rate
is expected to be increased to per cent
In August because OF improved earnings
-