Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-30
FinanclaE Briefs

III tfkufKCtIt HfGEFa
rhe ronopah Belmont quarterly report
i ending Nav 81 showed net earnings Of
S2i,207. against ts0s.TT0 for the February
/ quarter, and sAtiis for the correspond
ing period a year ago. Total net income
was s2eo,s7s against fs5tsSi last year.
The New York coffes Exchange viii be
closed July and s
/ The Iron Age says; THE steel trade
| enters upon the second half Of the year
with production about 30 per cent greater
than on January ]. and with the increase
IN production and consumption which has
been more marked IN the last two months
stu IN progress, There IL a general dis
position to look for further expansion
In the remainder OF the year, in spite OF
some irresularity In prices and OF the fail
ure Of pig iron prices TO reflect improve"
tnent In finished metal"
The New Jersey Zinc Company declared
an eNtra cash dividend OF 30 per cent,
payable July 10. Usually the company
makes 10 per cent. extra disbursements,
Excepting ssg5.eOO, all emergency our
renoy issued under the Aldrich-Yresland
act has been retired by the Treasury De-
partment, Il was announced today This
sum represents funds held In two in
solvent banks the Union National Bank,
Of Monroe, La, holds $4,000, and the Fret
National Bank, Of unlontown, Pa, s3os 100.
These securities are In the hands OF re-
ceivers Of the two banks and as soon as
the affairs Of the banks are straik Atened
out the securities will be retired The
Aldrieh-Vreeland act expired by limita-
tion today.
During the month OF June municipal
bond Issues throughtout the United
States, including State and county flota-
tions, reached total of S100, ,4s4, s09
against S9e,ie7,6OO the previous month and
s52a24,bOo IN June, 1914. This brings the
total for the hrst half Of 1915 UP 70
F2Sb,OSoS0s, against sa52, ,Is7,s5l for the cor
responding period last year.
There were no exports OF cotton today
An initial dividend of 10 per cent out
Of accumulated earnings was declared by
the Jim Butler Mining Company today.
Today was tho last day on which de-
poslts Of the convertible sinking fund gold
bonds, due January i, 1881, OF the West
inghousa Electric and Manufacturing
Company could be made with tho Guar
anty Trust Company. of New York, de-
posltary, in accordance with the plan OF
exchange for a new issue OF convertible
bonds, the details Of which already have
been announced, II Ia understood all but
about &.O0O,O0O of the bonds had been de-
posted up to this morning.
The Canadian Government has placed
orders for Sl,250,O00 rolling stock for gov
ernment railways, 10 locomotives, with
the Canadian Locomotive Company, and
1000 boxcars, divided among Canadian
Car Company, National Steel Car Com
pany and Nova Scotia Car Company.
The Federal Reserve Banks, now buy
Ing Government bonds under par In the
open market, were warned today by the
board that such purchases would not be
deducted from tho s25,0oo,OO0 Government
bonds the board may require them to
purchase from member banks after De-
cember 81.
| The Philadelphia bank clearings for
June were S725, 62S, 1857, compared with S03,-
| oeo,95e In June last year, an increase OF
S22, ,4OS, or $40 per cent. This is the
| FIRST increase shown in local bank clear
| ings since May, 1914 For the six months
| of the current year the clearings totaled
s., ,s46, ,562,04S, compared with A,l5295s, ls7 In
the corresponding period last year. de-
crease Of s2O7 7,S96,ls0, or 400 per cent
The New York banks transferred sZ2O,OVO
10 San Francisco.
New York banks lost sl,2O9,oo0 to the
| Subtreasury yesterday and have lost
50, 7bs, 900 since last Friday.
The directors Of re Missouri Pacific
1 Railway have approved the plan OF capi-
tai readjustment as drawn up by the
bankers and the company's officials ON
oial announcement viii be made next
week.
The Chicago Board of Trade directors
turned down the petition for a holiday on
Saturday, July g.
The committee representing the first
refunding 4 per cent. btnds Of the ST.
Louis and San Francisco Railroad Com
pany, has arranged TO advance to depos-
itors of the bonds the amount Of the
coupons maturing July !.
There was listed on the local exchange
s511, 900 additional FIRST and collateral trust
5 per cent gold bonds OF the Philadelphia
Company. due March /, 1s4s.
AT auction today National Security
Bank stock sold at 439, a rise OF no less
than 50 points from the last previous
sale on March 20, 1911. For the first time
since the par value OF chelten Trust
shares was changed from $50 to AGO. the
stock sold at $50. Last sale was at So'