The Washington herald., 1912-06-25
STOCK MARKET
FAIRLY ACTIVE
Prices Increase Slightly After
Trading Once Got Well
Started.
ToBACCos ARE STILL STRONG
By BARRON SERVICE.

New York, June 24-There was q fair
amount Of activity at the opening to-
day, but the extreme dullness OF last
week was duplicated later. The traders
as a whole were bearish, but prices i'm
proved slightly after the first hour. Dem
ocratic politics were discussed instead OF
stocks, as was the case last week, when
the Republican nominations absorbed all
attention. NThe sentence Of the three
labor leaders also was regarded as more
important than stock trading, and the
consensus Of opinion was that this would
provoke an outburst OF extreme radical
ism, and this was made use OF for bear
argument. Operators on the bull side
predicted that the market would break
away from politics as soon as the more
important affairs at Baltimore were I'm
ished. and that crop conditions and gen.
eral business developments would then
govern the trend of the market Wabash
preferred attracted attention by its
steadying in view Of the recent down
ward movement, and Il was said that the
payments Of $40 a share in reorganization
would not be such g heavy burden for
the preferred as the common. All Of the
main issues were heavy at the opening,
but hardened somewhat later. The to-
bacco stocks were strong, but buying in
these issues seems to go on, no matter
what the rest of the market does.
for export TO France by Lazard Freres
makes Sl4OOO,OOO sent to Paris from this
country since January l. This is the
first shipment TO Europe since March I.
There has been, in addition, shipments Of
gold aggregating Sl0,125,OOO in 1872 total
shipped out of the country of S24,l25,0Oo.
As the present consignment cannot arrive
in Paris until July ?, it cannot be OF use
there for the semi-annual settlement un-
less the receiving firm secures an advance
on the gold from the Bank Of France be-
fore July l. The earlier shipments were
said to have been for the Ultimate use
Of the Italian government in its Trtpoh
campaign. 1t might be that the present
shipment has the same ultimate destina-
ton.
The belated annual report of the JIM
ternational Mercantile Marine for the
year ending December 81. 1911, shows
gross earnings OF $3S,193,546, an in
crease of Sl.35O.OOO as compared with
1910; net earnings OF SS,OS2,56O. de-
crease Of 100000, a surplus after
charges of S4557Sj5: an increase of
100000. and a final profit and loss
surplus after charges for depreciation
OF SS21.O62, an increase of $4,000. The
surplus before subtraCtiOns for depre-
citation was equal to S.71 per cent on
the S51,730.97O preferred stock (on
which no dividends were paid. The
company had $2lS,624.l6I assets at the
end of the year. The loss Of the tt
tanic will not appear in their balance
sheet until the 1912 report is made up,
about a year from now.
Computations Of the earnings Of the
railroads Of the United States for the
fiscal year ending June 80, show about
5J,OOtOlO increase in gross earnings for
the current year. but a decrease in net
earnings due TO the severe winter, bust
ness depression, foods labor troubles,
and the passage Of laws making new
wage. working hour, and train crew
changes The loss in net for the 1872
fiscal year is estimated at about $500
600. This decrease will be further In
creased in the amount available for divi-
dends in view Of the fact that there will
be interest charges deducted on about
500 10000 more bonds and for other fixed
charges this year than last.