Evening star., 1914-12-29

ness in business and the first to indi-
cate the revival. Because of conditions
steel men are encouraged to believe
that the Improvement is real and will
continue.
Dividends Declared.
Shareholders in corporations found
last week less unfavorable in the mat
ter of reduced and passed dividends
than its predecessor. In all seventy
five corporations took action on the div
idend question. Four companies re-
duced their dividend, one, the Virginia
Chemical Company. deferred action.
Three companies declared extra dis
ments.
The Chicago City and Connecting
Railways Company, cut it's semi-an-
nual distribution a dollar share on
preferred stock and the Pennsylvania
Company made it's annual rate per
cent These were the important ad-
verse changes. Central Leather Com
pany increased it's dividend on COM
mon stock ] per cent. Other changes
were unimportant.
Dividends to be acted on this week
are decidedly important.
Applies for Membership.
Charles C. Glover. jr.. has made ap-
ington Stock Exchange. The member
president of the Riggs National Bank.
has been posted for transfer to the son.
Local Bonds.
The session of the local exchange
has assumed, or still maintains, a holi-
day atmosphere. While there is con-
siderable inquiry around brokers'
offices of both a buying and selling
trend, the volume Of daily transactions
does not indicate any investment buy
ing of Importance. Members of the
exchange are looking forward to bet
ter business conditions after the Janu-
airy disbursements have been made and
trading in stocks resumed. Bonds will
certainly be more active after January
I, on reinvestment of disbursements.
The only sale on the call this after
noon was of Railway As; the price was
S02..
New York Stocks.
The administrations communication
with England on shipping matters
brought some little selling with the
opening of the New York exchange,
followed by a rally. AS the session
wore on dullness became marked and
nrofit-taking by longs turned the mar
Eet weaker, though QeCllneS were Dy
10 means serious.
Dominant factors were a decrease in
Wells Fargo Company earnings for July.
August and September Of S202,595; a
loss of s5.349.656 in the gross earnings
Of Canadian Pacific for November. turned
by economies to "A net loss of $2,244,174 !;
the refusal of the public service commits
sion of New york to permit an issue Of
100000. 900 4 per cent bonds and the COM
munication to England, noted previously.
Union Pacific lost point, Reading u,
Canadian Pacific y. Copper IS E. Mop u,
Baltimore and Ohio :. and others frac-
tionally. while Steel comman was firm
and Mexican Petroleum made point ad-
vance
Financial Notes.
The British American Tobacco Com
pany, for the fiscal year ending with
September, increased its surplus f172,-
400, while it's net earnings increased
f25.1s6. e..
The internal revenue department has
Just ruled that coupons from bonds
being part Of the original bond. do not
require stamps when presented for re-
dcmption.
Cotton exports to date are about A
per cent of the total to this date in
1918
Louisville and Nashville for the thirf
week ill December shows decrease IN
earnings of $270,965.
Southern railway lost S320,042 in
earnings for the third week of De
cember, as compared with the earning:
for the corresponding week last year
Texas Pacific earnings decreased dur
ing the same week, $I9,053.
Gains were made by Minneapolis an6
St Louis of sS,191, and by Missouri
Kansas and Texas of s4s,0s9.