The Washington herald., 1914-08-06

8, 100000 on the preferred stock ana leay.
q balance OF a,41e,o5. equal to LII pei
cent on the $40 10000 common stock.
For the year gross earnings amounted
to >6e,53,eT, an Increase Of H,0ol 2O7, OF
IL per cent over the 1913 fiscal year
That gain. although small. was larger
than many OF the other large Southern
systems viii show.
Against this gross gain, however. Is
set net loss OF t.544. 757, or Sc per cent,
net after taxes for the twelve months be-
ing S631o,6a OF this loss in net, $ll6,07u
came IN June and nearly half the years
loss fell In the third quarter, or a total
OF s7os,ss6.
Although for the nine months other in
come amounted to S1.stS.sS2, It is prob
able that for the full year these figures
will approximate the S3,365, 80 OF I9l3 on
account OF dividends and interest received
near the close Of the year. Assuming
this TO be the case and estimating de-
auctions for interest, rentals. &C., on the
same basis for the twelve months as for
the nrst nine months, a balance available
for dividends - indicated OF approx
mately ISL, 900. This Is equal to slightly
more than per cent on the $4,000. 900
preferred stock. against over II per cent
shown In the preceding year.
Deductlng from this indicated balance
100000, representing dividends Of per
cent on the preferred issue, a balance
Tor the common stock equal to about 81
per cent results. against d balance Of
A.O7SS2S In 1919. equal to a3s per cent on
the common stock. Adjustments made at
the close Of the fiscal year may result
in increasing that balance.
According to figures gathered at
steamship ofiees. thirty-one transact
lantic liners. carrying upward OF 1000
passengers and crews, are on the high
seas at the present time.
majority Of these vessels are liable
to capture. Two owned by the Holland
American line and two Scandinavian
American boats. are all that would be
immune.
Ennorts are being made by a big utili-
ties corporation Of Pennsylvania TO merge
all the public service companies on the
eastern shore OF Maryland and the lower
Delaware into one big stock concern
with capital Of 81. 900. 900 or 90. The cor
porations under consideration are the |
Salisbury Light, Heat and Power Com |
pany; the Home Gas Company, the |
Salisbury Water Company, the Sussex |
Light and Power Company, Of Laurel, |
Seaford and Delmar; the South Delaware |
Gas Company, OF Seaford: the Cambridge |
Light and Gas Company, the Georgetown l
Light and Fuel Company. and the Easton /
Gas. Light and Fuel Company.
The capitalization of the new concern |
would be in the neighborhood Of 81 500 900.
and II 10 estimated that the gross earn
ngs OF the various companies would
show return OF at least per cent on
this capitalization
Steel trade authorities are by no means
unanimous In their opinions as to the
probable effects OF the European war
ipon the iron and steel trade OF this
country. Some believe that the trade
viii almost Immediately benefit by the
abroad, others suggest that
temporary harm nay be done but that
he nnal result viii be beneficial to the
teel industry OF tnc United States while
many are convinced that 50 great a dis
uroance cannot but affect the commerce
4 the entire world harmfuIly. although
his country will not suffer as much IS
hose direct'y concerned
Ths Norfolk and Western Railway reports for