The Washington herald., 1914-06-07
TORONTO QUOTATIONS.
WALL Street GOSSIP.

The Pennsylvania rail order for 1914
delivery is expected to be placed tomor-
row. 1t will not amount to over 100 0Ct
tons, which with the test order placed
recently with the Cambria Steel Company
and the Pennsylvania steel Company will
amount to about 12O0Oo tons. the smallest
total bought by the Pennsylvania COM
pany for a years requirements in several
years.
The Southern Aluminium Company Is
to issue 100000 6 per cent bonds. Pro-
ceeds will be used in meeting heavy con-
struction program under way. Water
power capable OF developing 100. 900 horse
power will be installed. This will neces-
state the erection Of a huge dam. the
cost of which Is estimated at 1900 600.
The Southern Aluminium Company was
fostered in Paris, where its principal Of
ficers reside. The American Metal Com
pany represents the concern in this coun-
try and is understood to have an import
ant ownership in the property.
Earnings of the Pullman Company for
the current fiscal year to end July 81
next are expected to show a decline COM
pared with the previous fiscal period.
which is due to the depression in car
building industry. but the local corpora
tons returns will not be relatively SO
small as those OF other companies in a
similar line. This is because the Pullman
Company derives a large revenue and
profit from its transportation department.
which Is understood to have been fairly
prosperous during the past year.
1t was stated yesterday that all but
about three-quarters Of a million OF the
u
presented either at the Union Trust Com
pany for extension for one year. or at the
office of speyer & Co. to be purchased
The small amount outstanding is under
stood to be held almost altogether abroad
and is expected to come in In due time
The notes purchased by the bankers have
already been deposited with the Union
Trust Company as trustee. In accordance
with the terms of the offer.
Vice president Schoyer of the Penn
sylvania says: Business of Pennsyl-
vania Railroad west of Pittsburgh is not
a marked decrease in coal, coke and iron
ore industrials as well as movement of
general merchandise, particularly iron
and steel products. Demand for coal
and coke has decreased largely because
of decrease in manufacture Of pig iron,
rail and other steel products. I cannot
account for decrease in general mer-
chandise, except on assumption that in
territories traversed by our lines there
is decrease in general business offer
ings."
1t is not often that E. p. Ripley, presi-
dent of the Atchison, permits himself to
speak in optimistic terms. and for that
reason on the rare occasion when he
does his remarks are needed In Wall
Street. Yesterday he spoke more hope
fully than he has in months Basing
his prediction on the bumper winter
wheat crop which will soon be harvested
he said that Atchison's earnings should
show up better during the fiscal year
soon to begin than during the year near.
ing its end. Kansas and Oklahoma, he
predicted, will harvest 160.oo0.oo0 bushels
Of wheat this summer, while California
citrus fruit shipments will be twice as
large as they were last year. On this
item alone he expects a gross income for
his road of s2,5Oo.o0o. Even the Texas
cotton crop is not hopeless in Mr.. Rip
ley's opinion. For the current fiscal year
Mr.. Ripley says the Atchison's net avail
able for dividends is likely to be SIS ner
cent. SO that a comfortable margin of
surplus will remain after disbursement
Of the per cent regular dividend the
stock pays.