The Washington herald., 1914-03-06
WALL STREET GOSSIP.

Tennessee Copper Company has de-
clared the regular quarterly dividend of
% cents.
Wallace Fairbank. OF New York. was
elected q director to succeed 7. NJ.
App,egarth. resigned.
The Atlantic Coast Line Railroads $
January report shows a decrease of 4s.-
so In gross earnings and n decrease OF
Slsc,9sS In net earnings.
The Reading Company's surplus for
January decreased s1.052. $50 and decreas-
ed s5,S6,7"a for seven months.
The directors Of the sloss-sheffieId
Steel and Iron CO. will meet next week
and take action on the quarterly divi-
dend on the preferred stock.
Seaboard Air Line receipts for seven
months ending January II were S14, I5s, 6c3,
rs compared with sl3,s1s7so in the same
period last year.
The p. Loriilard Company has declared
the regular quarterly dividend OF 2I-2
per cent and an extra dividend OF per
cent OF the. common stock. also 81 per
cent on the preferred stock.
Dividends arc payable April !.
Phelps. Dodge G. Co. copper production
for February totaled >11.Hi.123 pounds.
Copper Queen produced s,iiS.1T0 and
Mcctcznma 2.Ci2,5i3 pounds.
Railway Steel Springs earnings for the
year ended December q. 1919, are equal
10 k3 per cent on l3.J00.co0 common stock
after deducting depreciation, as compared
with al per cent earned on same stock
previous year. Including in earnings the
S2J1Vo charged Off for depreciation, 3I6
per cent was earned on common stock.
{. L. Schaff. president Of the Missouri.
Kansas and Texas. says, regarding pres
ent outlook for the road: while 1t is
creases In gross earnings during the
spring months, commercial conditions in
our territory are satisfactory
The largest individual holding Of stock
in the United states Express Company is
that OF the estate of f. II. Hartman,
which amounts to approximately 2e,OOO
shares.
President Funk, Of the NJ. Rumely Com
pany. states that bondholders' agreement
10 the three-year extension plan of the
SloOp.O0 note issue are steadily coming
In. but sufficient consents have not yet
been received TO make the proposed ex-
tension operative. II is desired to extend
the date Of maturity of the slO.OooOO0
issue from March !, 1915. TO March I, 1915
The express companies have accumu-
lated a large amount of real estate.
Some of IL was bought i'm the early DAYS
ana now shows great appreciation. 1t Is
rot concentrated. but consists Of parcels
lr cities and towns all over the United
States. so that the widest market could
b. obtained for IL in the event Of Iiquida-
ticn The point is worth bearing in |
mind In connection with the plan of the |
Cnited States Express Company TO retire |
from business and wind up its affairs In |
addition to very valuable real estate |
holdings. the company has about 80 900, 900 |
ash and large amount Of securities !
That its security holdings are very val |
liable is Indicated by the fact that they |
Yielded TO the company last year a re- |
urn of Scs.ooo. Other assets. like horses |
and wagons. could easily be disposed of: |
md the belief is quite general in Wall |
street that when the United States Ex- |
press Company liquidatcs. an amount
'f money will be realized sufficient TO !
make distribution to the stockholders |
much larger than the value represented
'y the present market price Of the stock /