New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-03

Interest and dlscnt. l,Efo,ooo ','oo'%7S
Balance. .......s4,e56,3Ss s4,267, 1863
Other income 24o,390
Total .s4,s5e,ass s4,5o7, $40
Preferred dividends 1,eoo,s44 1,6oo,472
Balance 3,055,442 2,907, OF
Common dividends. 419,Ioo =
Surplus. 2,635,oIo Z,sof'oII
Previous surplus. 13,175,376 1883, 1O2
Total surplus. 15,811,o52 1885, Ivy
Deductions ...... 202,e18 42O,0OH
Profit and loss sur.15, SOB, 1874 13,175,3N
Union Tank Line Company Sells
Notes.-The Equitable Trust Company
has purchased s7,500.000 of the com,
nanv's per cent equipment trust gold
notes. maturing in instruments OF sl,-
500 600 semi-annually from August l,
Io1S. TO August /, 1920, inclusive. Inc
notes are secured by equipment costing
approximately s13,5O0,000, consisting OF
l75O standard tank cars. PUBIC OF
fering Of the issue is expected sooh'
C.,.da,s Foreign Trade. - The Do
minion of Canada's foreign June @
nrnourtcI IA S2I3 100000, which com
80 with s162. OOO,O for that month
N 1o16 Agricultural products export.
ed increased to $57,000,0OO, a gain OF
40 ner cent for the month, and manu-
factures. at 500 000,0 900, increased 30
Nor cent. Imports for June totalled
S97,00O,0O0 and exports Sllo'ooo'Voo'
California Petroleum. - Report lot
the six months ended June 80, inciud-
ing subsidiary companies, shows net
earnings before depreciation OF Sl,l3oi-
$50, compared with S662,569 for the
corresponding period of 1916: AFTER
allowing for depreciation, exhaustion
Of oil deposits 5 cents per barrel, inter
est, etc, the balance applicable 10 tne
preferred shares was approximately
$3.50. 900. equivalent to IA per cent per
annum on the preferred stock.
American Steel Foundries.-Direct-
ors Yesterday authorized the retire
ment on October Of the outstanding
amount of first mortgage per cent
bonds, due 1885. The amount OF THESE
bonds now outstanding is approximate
~ sl3O0.000. 1t is announced that the
company's entire indebtedness, apart
from current liabilities, consists OF the
4 ner cent debentures, of which about
$4,000. 900 are held by the public. For
the six months ended June 80 the COM
ranv reports net earnings of S3,948,197,
compared with s1,374,226 for the first
half in 1916. Miscellaneous income
was Sl46,680, against $55,2Al year ago,
and surplus earnings after interest
charges. sinking fund, etc, totalled
( SO. 684 $50, an increase of S2,66l,9 800.
Pittsburgh & West Virginia Railway
} Communicated Dividend-Director
at a meeting yesterday declared an ini-
l tial dividend of IA per cent on the
preferred stock for the quarter ended
/ June 30. The disbursement is payable
September to stockholders Of record
August %.
[ Northern Ohio Traction and Light
Company. - Gross earnings for the
/ twelve months ended June 30 totalled
I 1854, 695, against S4,5l3,599 the prevl-
( Gus year. Net earnings after operat-
/ ing expenses and taxes were S2,lsI5
an increase of s219,S40. The net earn
I ings were approximately three and one
quarter times the company's annual
/ bond interest charges.
New Oil Companies.-Since the be-
ginning of the war S15 new oil compa-
MES. with a total authorized capital
stock of s1,016 100000, were organized
in this country, according to sum-
mary made by "The Journal of Com
merce.' There were forty-two new
companies, with capitalization OF
22.425 900, formed in July Of this
wear. This is the largest amount in
volved for any one month since the
{ outbreak of the war, with the exception
/ of February, 1916, when the total stood
/ at 1888, $4,000, a record mark.
! Anaconda Copper ProductiOn.-Total
output of copper in July was 12,40O,-
/ 600, which was q reduction OF 100000
pounds from tie month preceding and
of 1880 900 pounds compared with
: that month in 1916. This heavy drop
] in production was brought about by
/ labor troubles at the company's mines
and smelters, and at the present time
I it is said the properties are being OPP
Grated at about one-third of capacity
Tidevater Oil. - Net earnings for
June, including income from subsidiary
properties. were S895,3S6. compared
with S1,256,624 for the same month in
1916. The report for the six months
ended June 80 shows net earnings after
, deducting excess profits tax of S235, 900
and special deductions of s99S,93l OF
( s4,976,492, against s4,519,sss for the
corresponding period last year.
Pierce-Arrow Motor Garnet oper-
ating profits for the quarter ended
June 30 were Sl.303,376 and for the
first six months Of the current year
totalled $751;, 562. Surplus after in
terest requirements and depreciation
for the six months ended June 80
amounted to s2,O66,s32. equal to $685.
share on 100000 shares of common
stock after deducting preferred stock
/ dividends.
! Sears ROebuck. - Sales for July
I amounted to 1881, 764, an increase Of
l5.l9 per cent over the same month in
1916. For the first seven months of
this year sales totalled ss6,525,201, q
gain Of 1888 per cent