New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-17
Relevant
Information

mon and 3h points in the preferred
stimulated discussion OF the current
earnings Of the company, which are
said to be very large. This concern
produces about two-thirds OF the news
print paper on this continent, end its
output was estimated in August at
1900 tons a day, with inquiries for
from 1900 to 1000 tons monthly IN
excess of its production. 1t was under
stood at the time that the company
had been compelled to refuse orders
for almost 100000 tons in the last
two months. Last year international
Paper earned 5.44 per cent on its pre-
ferred and paid per cent. with MOTH
ing on the common. The company IS
understood 10 have earned in the three
months beginning with June more than
S1,5O0,000 net. II earnings amount to
more than 100000 in the last four
months of this year the full year OF
1916 would show balance on the pre-
ferred stock of equal to more than SZO
a share. There is an accumulation OF
33 per cent in back dividends en- the
S22,406,70O of preferred outstanding.
Norfolk & Western.-The persistent
strength of Norfolk & Western has been
ascribed to it's large earnings and re-
ports that the Pennsylvania Railroad,
which already owns s98,573,40O Of the
s117,7O4,OOO common stock outstand-
ing and s6,32O,O0O of the s22,99l, 200
preferred, would take lease OF the
system. OF the latter Dow, Jones &
Co. said yesterday: Concerning the
much discussed leasing of the Norfolk
& Western by the Pennsylvania Rail-
road. bankers and railroad officials
agree that the present is a most IN
suspicious period for such negotiations
IL is recalled by railroad authorities
that the directors of the Pennsylvania
gave the proposition serious consi1era-
ton three years ago, and IL is admitted
that the Pennsylvania acquired its in
terest IN the Norfolk & Western with
this end in view. But with the decl-
sion in the Union Pacific case, the
Pennsylvania board promptly dropped
all discussion Of the project, and nc
consideration has been given the plan
for several years past. 1t may be ac'
cepted as authoritative that, since the
government has in no way threatenec
so far to disturb the Pennsylvania
relations with this company, the lines
of which parallel those of the larger
corporation, no action will be taker
until definite Interpretation of the law
forbidding the ownership or control OF
competitive lines has been handed
down by the Supreme Court"
Republic Iron and Steel.-Republit
Iron and Steel, which somersaultec
nearly 20 points the other day on the
U-53 news, rose points yesterday, but
is still nearly 10 points under its re
cent top. This company's net earnings
in the six months ended June were
S6.s23.026, or at an annual rate o.
1898 per cent on the common stock
Last year $50 per cent was earned or
the common, while the largest earn
ings in the last ten years were ga
PER cent. No dividends were paid dur
irg that period Accumulated divi
dends on the preferred amount to
per cent, an extra Of per cent having
tecn paid early this month.
United States Steel.-Nesrly $4,000,
900 was added yesterday to the marke
value of the outstanding 6,OSO,OO(
shares of United States Steel common
The stock opened at 1O9ls and CLOSED
at 1127s, an advance of AZ. points from
Saturday. According to Dow, Jones &
| Co. the amount of Steel common helC
by foreign countries on September 81
last amounted to 537,S09 shares, com
pared with 625,254 on June 30. This is
decrease for the quarter of s7,44'
shares of approximately IA per cent
On March 81, 1914, Steel common helC
/ by foreign interests amounted e
/ ,2S5,6 shares, or 25.29 per cent OF
the total stock outstanding. The 537,
! 500 shares now held abroad is equal t
not much more than 1015 per cent o.
/ tho total issue, and the decrease from
/ the high level of 1914 amounts to near
/ ly 60 per cent. There was also consid
cradle liquidation of Steel preferret
stock held abroad in the last quarter
On September 30 holdings of the pre-
ferred amounted to III ,096 shares
compared with 236,361 on June 80, 1915
ard 312,S32 on June 30, 1914. On Sep
TENDER 30 last brokers and banker
held 2,S29 800 shares of Steel common
or 55.7 per cent of the total issue. com
pared with 2,68l,161 shares on June sc
EXPORT DEMAND FOR
Dali KEEpC CTp0NC