The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-09-14

NEW YORK. Sept. 12-Stock< were
irregular today. bur in some nf the Sre3
cialtiss there was great strength ana
activity. The public is in the market
10 a large extent bur are apparently
able 10 stem the tide nf selling that
seerns to take plsc" by those VIII" are.
working for reactions.
We are inclined /" go SLOW. until Il
fair reaction does set in. hut If We had
10 choose purchase 1T these prices. II
would be Steel common. Midraic. lnSri-
ration. Union Pacific. Reading and per
haps Leather common which acts we'll
Dow Jones says: It is evident from
the way United States Steel common
shares have advanced that very llttIe
foreign stock has been pressing for
sale. Last shareholders list showed
foreign liquidation had about run it's
course although Europe still held some
thing like six hundred thousand shares
common. 1t has been stated constdera-
able block Of Steel common held by
foreign interests shortly before extra
dividend was declared was taken over
by private New York bankers.
been obtained. although Steel shares
are conspicuous for their absence In
collateral Accompanying recent Brit
ish loan. At any rate very little for
eiEn held steel has made its appearance
IN New York market in past few weeks.
AS matter of fact ono house with
large foreign business claims Europe
has been buyer instead Of a seller or
steel companies says he made close
investigation and find no evidence Of u
big ball pool in steel. Ea attributed
buying To the fact that United States
Steel is earning around fftr dollars a
share on the common and that this adj
ditional value is bound 70 be reflected in
the price OF the stock.
Steel net earnings in quarter ending.
Sent 80 arc likely TO total S9Q moo 900.
If they are sSl.60nhnn in last quarter
or same as reported in second quarter
and many people heli+ve last quarter
will he the banner quarter net for full
year will total approximately s3l3.01h.
Gnn Surplus after all charges would
then be equivalent 20 around $40
share on common.
Specialists report evidence OF good
buying in New York Central. Union IA
cific. Reading and Norfolk and Western.
with an aprarente awakening or some
interest In tho railroad list during profit
taking among industrials which have ad-
vanced extensively. These four issues
seem to be the. most favored in the
rail group at present.
Cructble Steel officials deny that the
bethlehem Steel Corpn.. had acquired. or
is seeking to acquire control Of Cruci-
BILE Steel Co.
BOSTON says: Declared regular quar-
tnrly dividends OF so cents and 81
respectively. Of United Shoe Machinery,
Electric Boat Co.. declared extra divi-
dend Of Is per cent on both common and
preferred stocks. payable Sept. % stock
record that date.
Dow Jones says: Big Four declared A
quarterly dividend Of X per cent on
preferred stock. resuminG dividends at
regular per cent rate. Last dividend
was IL per cont paid in July. 1916.
Previously to that no dividend had been
paid since middle Of 1913.
New York Central declared regular
quarterly dividend of IL per cent
Banks gained from suh-treasury Tues
day S3,S6S, 900 and since Friday Sl0,0Si.-
Coo
Rock Island July gross increase 9S6.-
a9S: net after taxes increase 996.052.