The Washington herald., 1914-05-02
WALL STREET GOSSIP.

Pennsylvania and Peoples Gas sold ex-
dividend yesterday.
New York Central earnings. all lines
March. net after tax showed a decrease
OF s3.7l5.O00; for three months net after
tax decrease. S,46O,50o.
The corporation GimbeI Brothers. New
York, have increased their preferred cap
ital from S.0OO.eOO TO S5,OoooOO. The ad-
ditionaI Sl.OO0OOO has been paid into the
the money for this purpose was furnished
by Julius Rosenwald. of Chicago.
The Renfrew Manufacturing Company
has declared the regular quarterly divi-
dend Of IL per cent on the common
stoc.
The Consolidated Gas Company has
declared the regular quarterly dividend
OF / 1-2 per cent.
Riker & Hegeman Drug Co. declared
tho regular quarterly dividend of / per
cent on the common stock.
The Southern Pipe, Line Company has
declared the regular quarterly dividend
OF $50 per share.
The d. L. & W. Coal Company has
declared a special cash dividend of 10
per cent. payable May ID to stock of
record May ;. Delaware, Lackawanna
and Western Coal Company is now ON
dividend basis of at least % per cent
per annum. paying 10 per cent in regu-
lar dividends and declaring a special
dividend of 10 per cent. The 10 per cent
special dividend means a cash distribu-
ton of S659O7O and compares with a %
per cent specia! dividend a year ago.
Earnings of the Lackawanna Coal Com
pany can be depended upon to exceed
30 per cent per annum on the $3.50, 700
capital stock. In 1913. earnings were els
per cent against 40 per cent in 1872. On
December 81 last the company's cash on
hand exceeded S7.l0oOo0. and at present,
it is estimated. exceeds S.SOo,ooo.
Consolidation of the New York Cen
trail, Lake Shore and certain subsidiaries
does not carry the process as far as 1t
is intended ultimately to go. For the
present 1t leaves out the Pittsburgh and
Lake Erie and Toledo and Ohio Cen
tral, which the Central management ad-
vised the Interstate Commerce Commits
sion, in the investigation recently con-
cluded, II proposed to bring into the
enlarged system. For an indefinite time
to come, also. the New York and Har-
lem is left out. although 1t remains a
leased line of the Central and to all in
tpnts and purposes a part of it.
The new system will be a billion-dollar
corporation, when all of its stocks, bonds
and leasehoId obligations are taken into
account.
In banking circles and by George ].
Gould the statement was made yesterday
that there was nothing new to report
with respect to the negotiations now in
progress for extending the Missouri Pa
cific's s25.0O0.eO0 notes maturing June l.
Nothing further Of Importance Is looked
for by well-informed interests until the
announcement promised for next week or
some tims within the next ten days, in
which the holders will be asked to de-
posit their holdings under a plan for
extending the notes.
Readings problems heretofore have
been of a legal rather than an operating
or hpanciaI kind The late president was
very able lawyer. and some people
think Il is by a lawyer that his place
will be filled. The chances are. how
ever, that the time is not far distant
when there viii be an important change
! In the aspect of Reading affairs. Suits
and inquiries are now In progress cover
ing all the problems with which the
legal Representatives of the road have
been Ire - ears and when these mat
ters lsays H5-a Giles ned up. there may be
for iong pcriod complete immunity
from she kHd OF attack to which the
CONF any has been subjected in the past
Readins VIII then need railroad man.
or a coal E-n.. rtther than for q law
yer.