New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-10
Relevant
Information

Central Leather-This issue was the
feature of the industrial group yester-
day. rising 11% points, to liz, ne"
high record, on turnover OF l3OOOO
shares. This compares with n low TINS
year of 40. made in April. Earnings
Of the company, based on the showing
for the September quarter, are now
running at an annual rate Of approx
mately % per cent a share on the
s3e. 7Ol 900 common stock. In 1918 tna
company earned 1882 per cent. An
analysis of the company's earning
mower over period Of ten years shows
average annual earnings on the com
mon of 3.12 per cent. Last year gross
sales totalled s6S,9l7,939. The COM
many owns and operates cighty-siA
tannery plants and extract works in
various states, sawmills, glue factories
warehouses, machine shops, etc. 1t was
stated in July that the company had
total of at least 336,OOO tons Of grow
ing hemlock and oak bark in its DIFF
ferent woodland reservations. valued
at more than sl7,OOO,OOO at prevailing
prices.
Lackawanna Steel.-This was the
strongest of the minor steel shares yes
terday. advancing to 96%, a new high
record, and closing at 90, with a net
gain of 80 points. Last year the stock
sold as low as %. Dealings yesterday
totalled $4,000 shares This company
resumed dividends on its s34, 100000 OF
common stock in September with the
declaration Of per cent, payable IN
quarterly instalments. This was the
first payment since 1918. when per
cent was disbursed TO stockholders.
An analysis of the company's earning
power over period Of ten years shows
average annual earnings on the COM
mon stock Of $40 per cent Earnings
in the last year have undergone re-
markable improvement. In the nine
months ended with September the
company reported net profits of So
&c., DAB, compared with s6l3,35O in the
corresponding period of 1915. Untitled
orders at the end of September
amounted to 745, 694 tons. against $685.
Os4 tons on the same date in 1915.
The company has sold considerable
amount of its steel to the French for
she'll making. The directors announced
in September that the company had
completed the payment during the last
two years of s10.OO0,0O0 of funded in
debtedness. and that il was now free
of all floating indebtedness.
American Locomotive.-The common
stock sold yesterday at 98h, the high
est in the history of the company. II
closed points up. at 81, with total
dealings of 10000 shares. locomotives
present price compares with low
this wear Of So. made in July. In
March. 1915. it had a market value Of
10. There is s25,0O0,000 Of common
and an equal amount Of 7 per cert
cumulative preferred stock outstand-
ing. After a lapse Of eight years, dur
ing which nothing was paid, the CON-
pany resumed dividends on the COM
mon at an annual rate of 5 per cent
year. Returns from operations for
the fiscal wear ended June 80 last
showed 36.08 per cent earned on the
common, with a surplus of s6,0l9,42s.
This compared with a deficit of s3,24f,-
$50 in 1915. Gross sales in 1916 were
s59,316,016, compared with S9,3O3,29S IN
1915. In August it was stated that
the company had total of s63,0oO,OOO
in foreign business booked, which in
cluded shells and railroad equipment.
American Linseed.-Both classes of
The common, on a turnover of 10000
shares, advanced to 27A and closed 4
of point up, at 2619. The preferred
rose points, TO so, on dealings Of
1920 shares. The s16,723,64s of
common has never paid dividends
Nothing has been paid on the sl6,722,-
03O of per cent non-cumulative pre-
ferred since 1900. The company
manufactures American and Calcutta
linseed oil, raw, boiled and refined vCr-
n,sh, oilcake, olmeal and crushed flax
seed. In 1915 it earned 602 per cent
on the preferred, against l.83 per cent
in 1914. There was talk last May OF
a dividend on the preferred, but at the
time officials of the company pointed
out that at best present conditions, so
far as the company was concerned,
we're unsettled. IL was asserted Ut
the time that the management planned
to increase its working capital before
considering the distribution of profits.