The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-05-16
WALL STREET GOSSIP.


fopeaH eeppef = eDss oss soes
Rpssiln and psnpbian wheat ship
ments this week estimated at 6soo.oo
bushels. Last week. Asaooo bushels.
Otandard on OF New Jersey declared
regular quarterly dividend iof > . share
payable Juns Is. to stock Of record May
Butte 4 superior Copper Company
Ltd, declared an initial quarterly divi-
dend OF Is cents . share, or Vt the rate
Of = . share pet annum.
Adams Express Company has declared
q regular quarterly dividend Of $50 per
share. payable June TO stock Of record
May 1a
Continental OIL Company has declared
the regular quarterly dividend Of % "a
share. payable June is to stock of record
May q.
southern Pacific Company has declared
the resular quarterly dividend Of l-2
recor June
At tk annual meeting of the Stand
ard OIL Company Of Kansas. officers
were reelected
Brooklyn Rapid Transit will soon b.
freed from the onus Of the convertible
bond issue which now has Oppressive
influence on the stock The bonds re-
ferred to are the nrst refunding con-
vertibae per cents of July. 3O0. They
are convertible into stock until July !,
of the present year. par for par. On
that date the convertible privilege ex-
pires. One reason for the failure of the
stock to reflect earnings better is be-
lieved to be the weight of these bonds
Brooklyn Rapid Transit has been earn
ing close to per cent for the past two
years.
James II. Young. who yesterday was
elected president Of the Norfolk South
efn. has been connected with the Hill
lines He began his railway service as
an once boy with the Oregon Short
Line in 1852. He worked up through sue
cessive positions. becoming at different
times superintendent, on both the South
ern and Union Pacific lines. While gen.
eral superintendent Of the Southern Pa
cifc in 49, he left to become president
Of the Alaska Steamship Company and
Alaska Railway. from which position he
was elected to the presidency OF the
Norfolk Southern
Moler to W. B. Hibbs & Co.-whIle
the market has had a good advance
for the prevailing conditions and
the present limited trading. the tend
ency il regarded az upward and that
purchases, especially in the event Of any
movements. will show fairly |
good profits.
Southern Pacific. Union Pacific. and
the Hill stocks. with the new and bet |
ter class Of the cheaper producing cop |
per stocks. and also Steel. are being |
favored as the market leaders
c. E. Schan, president of the Missouri |
Kansas and Texas. says: Crop condi-
Ions were never better. II is estimated |
hat Kansas will have a wheat yield of |
q. oOo.00o bushels. 100000 more than the |
'tate ever produced before. Oklahoma |
stimates place the wheat yield in that |
tate at from % 100000 to ~. 900 bushels.
While Texas expects to have 10000. 900 |
'ushels. Both OF these expected yields |
re much above last years totals"
Despite the refusal Of a part of Wall |
treet to believe that many Of the oil |
ompanies have felt depression in busi-
ess for some six months or more, recent |
ividend declarations probably reflect
ctual conditions in the oil trade.
The first dividend reduction this year
y a former Standard Oil Company was
hat Of the Eureka Pipe Line Company,
Then the rate was reduced from 10 per
ent to per cent for the quarter The
ipe line companies do not announce their
ividends as being quarterly. the direc-
ors being careful to call each "a diyi-
end" But in view Of the fact that since
heir Inauguration the pipe line dividends
, most cases have been declared every
nree months. they are interpreted by the
treet as quarterly dividends.
There is considerable interest in the
lcrease in the capital stock OF the yir-
inia Carolina Chemical Company from
Z. 100000 to Sss,00o0oo. The increase Is In
referred stock. The stock Is now d.
ided into S3s 0oo,0 900 common and $50. oo0,-
% preferred. At the special meeting
ED in Jersey City. stockholders Of the
ompany approved the financial plan
roposed by the directors. which called
Dr. the authorization Of S1e000OC0 per
ent convertible debentures, Of which I
100, 900 only are to be issued at present,
nd an increase in the preferred CAPT.
llization Of 10000 shares. to be held
gainst the conversion Of the debentures |
he debentures are convertible into pre- (
fred stock on the basis of ITO Of deben- ]
Tres for 100 Of preferred.