The Washington herald., 1914-07-22
WALL STREET GOSSIP.

The reports OF the Central Leather
Company for the quarter ended June 30:
Net applicable TO dividends, t1,044. .ss4.
compared with S93S16 for the corre-
spond quarter last year.
The Pullman Company has declared
the regular quarterly dividend Of g, pay
able August Is TO stock Of record July IL
The seat on the Cotton Exchange be-
longing to the estate Of T. B. criss has
been sold to p. B. Weld, for a client at
$4,000. q decrease Of $50 from the last
previous sale.
A railroad actually has restored its
dividend. The Bangor & Aroostock has
declared semi-annuaI dividend Of Q per
cent. payable July p to stock OF record
July Is. This, restores the shares 70 a
per cent ann6m basis. Six months ago
l-2 per cent was paid. The road earned
over per cent in the year TO June %.
The Chicago and Northwestern Rail-
road crop report says: Many reports
have been made Of considerable damage
by rust In South Dakota and Southern
Minnesota. but investigation develops
that while there Is rust and evidences OF
rust through a good portion Of this terri
tory, damage will not be as serious as
good many reports indicated"
Alabama Fraction. Light and Power
Company for May reports gross earnings
from operation OF subsidiaries OF so. 30
for May, 1914. with ret earnings Of No,22l.
For the twelve months ended May 81.
1914. gross earnings were S575.259 and net
earnings s12S, ,79s. As the company is now
delivering power regularly from the new
kxFH aIa1frfr daUA1npTnanf AZ Tnrx 10 n
the Coosa River. It Is expected to begin
publication OF earning statements show
ing the combined earnings from all
sources, instead of showing only the
earnings from the smaller operating sub
salaries as at present
The copper market continues quiet with
10 SIS cents a pound the ruling price for
eIectrolytic, although some producers are
still holding out for 10 rs cents The
Immediate trend of the market is down
ward, as evidenced by the decline abroad.
but most Of the larger producers are not
anxious to sell at current levels believing
that a turn Is not far OF. The advance
in the price Of certain steel products
and the intlmation that other lines will
be advanced In the near future Is looked
on as Indications of a general betterment
in industrial conditions which should af-
fect copper faVorably.
It Is probably not generally apprecl-
ated, how widespread has been the sub
stitution of steel passenger equipment
for wooden cars on the railroads Of the
country in the last two or three years,
and how few wooden cars are now being
constructed.
Out OF 3,lH passenger train cars under
construction January !, including postal,
mail. and baggage. passenger. sleeping,
and dining cars, s. per cent were OF all
steel and over Il per cent were steel un-
derframe. Only hfteen cars out Of the
total were OF wood.
No less than seven bills are now pend
ing IN Congress requiring the replace
ment OF wooden passenger equipment by
steel. These, Of course, do not call for
the immediate elimination OF the wooden
car, but provide for gradual replacement.
the suggested periods during which this
result Is to be accomplished varying
from January /, 1915, TO ten years after
the enactment OF the law. In some In
stances extensions of time are placed at
the discretion OF the Interstate Com
merce Commission.
There are now in service approximately
a $50 wooden passenger cars against S.-
l26 on January !. 1872. so that 1855 have
been retired in the last two years The
bare cost Of replacing these wooden cars
would involve more than SSl, 10000.