Newark evening star and Newark advertiser., 1915-03-26
FINANCIAL NOTES

Wars continued demand on Ameri.
can granaries was shown today In q
commerce department report of a
single sale OF flour to continental Eu-
rope, which required $4,000 bushels OF
wheat for Its production and two
steamers to transport 1t from New
York. Its value was s750.00O and it
was milled by middle western COM
panv The buyers paid for the ship
ment at seaboard and assumed all
transport risks.
Wheat flour exports increased from
SS.605,S2S in February, 1914, to $780,
100 last month.
Improvement In foreign commerce
of the Philippines during the early
months of 1914 was halted after the
outbreak OF war In Europe, the bu-
reau Of insular affairs announced to-
day, and the net result of the years
trade was decrease of $4,724,133 in
imports, compared with 1918. and an
increase of only s916,67S in exports.
Import reductions were chiefly In
cotton cloths and iron and steel pro-
ducts.
Imports were valued at $4S, ,5ss. .65s;
exports, S4S,6S9, ,634. About one-half
of both export and import business
was done with the United States.
Great Britain stood second In volume
of trade with the Islands.
Stockholders Of the Porto Rlcan-
American Tobacco Company have ap-
proved an increase In capital from
81, 900, 900 to $1,000, 900, but only enough
new stock will be issued at present To
retire outstanding scrip at par.
The Virginia-Carolina Chemical
Company for the second time has de-
ferred action on Its preferred diW.
dend. The directors issued the fol-
lowing statement: lowing to de-
layed cash collections and the late
ness of the fertilizer season, the board
Of directors deemed It wise to defer
action again upon the preferred
stock dividend Our business Is all
we could expect and profits now
promise a satisfactory outcome, but
conservation Of cash Is considered ad-
visable."
President Schwab, Of the Bethle'
hem Steel Corporation, and President
Whitridge, of the Third Avenue
Railway. have pursued the same
course In emphasizing repeatedly
that there will be no dividends for
a long time to come In their re-
spective fields. Oddly enough, Beth
lehem Steel and Third Avenue are
also travelling together on the stock
exchange as brother specialists. De.
spite all the no-dividend statements
these stocks have shown continuous
and parallel rises. There are many
buyers. 1t appears, who do not take
Mr., Schwab and Mr.. Whitridge very
seriously.
Officers Of the Cambria Steel Com
pany were reelected at the organiza.
tion meeting Of the directors yester.
day.
Common stock OF the q. I. du Pom
de Nemours Powder Company sole
yesterday at $304, new high record
1t Is reported that the du Pont com.
panies have orders on hand for fully
500, 100000 worth of powder.
A remarkable earnings statement
for February was contributed by tn,
Atchison road yesterday. 1t showed
gross increase of sl,O71,25l, or about
IL per cent. over last year. Net earn
ings for the month were $2,639,691, ar
increase of s721,455, or about q pei
cent. In eight months this road has
had a gross increase Of s4,547.036 oi
about per cent, and net increase
of $3,6S0,941, or 18 per cent.
The Erie railroad In q recent month
carried more east -bound freight from
Chicago to points beyond Pittsburgh
and Buffalo than any other railroad
except the Lake Shore. Attention was
called yesterday by local bankers Il
the fact that the Erie in October, 1918
ranked seventh In this traffic; in Oc.