New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-02
Relevant
Information

lilIOl lilduOll
Chicago, Rock Island & Pacific
Seward Prosser. chairman Of the re-
organization committee of the Rock
Island, issued this statement yester-
day: The plan has been declared
operative, effective February 1. The
joint reorganization committee an
Court at Chicago has authorized set
Element of the suits brought by the
receiver and the stockholders against
certain directors of the railway COM
pany. Under the settlement order an
additional sum of S550O,OOO is TO be
thus made available for reorganiza-
tion purposes, which sum will be paid
by the defendants. This S5,50O,OOO
will be applied to the purchase, for
account of the defendants, of $1,000
coo par value 6 per cent. preferred
stock cumulative TO per cent? of
the new company. This $5,000,000
stock is additional to the $20,000,000
per cent preferred stock issuablc
under the plan in exchange for deben-
/ lures. II is stated in the reorganization
plan that the committee proposes to
sell. before declaring the plan opera
tive, an amount Of such first refunding
bonds, at least sufficient TO provide for
the payment at maturity of SO, 100000
face amount of first mortgage SO
! bonds and the 81 $4,000 Choctaw Sc
rial collateral bonds falling due in
/ 1917. The committee deems it advis-
I able to defer such sale. 1t is UNI
necessary to sell these bonds so far
in advance of the maturities to be re-
funded. When all receivers certii-
Gates shall have been paid, 1t is deemed
that more favorable arrangements for
the sale of these securities may be OBJ
tanned. An understanding has been
reached with the Peabody committee as
TO the terms upon which it will with
uIdN Nhc sui pIousHt AVi tHc iOit-
closure of the first and refundng
mortgage
New York Central Orders for los
new locomotives have been placed by
the New York Central Railroad. The
Lima Locomotive Corporation will
build forty-fve and the American Lo-
comotive Company sixty of these en-
gines for delivery in December next.
The New York Central now has out
standing orders aggregating 335 steam
locomotives, of which the American
Locomotive Company is to build l75.
American Steel Foundries. Stock of
this company declined Ga points on
the Exchange yesterday, closing at
55ss, on a turnover of 1000 shares.
The company issued remarkably fine
earning statement yesterday, covering
the full year Of 1915. Net earnings of
Si.S42, 237, compared with $5l7,325 in
1915, and net profits totalled S4.lO2,-
S24, against S313,242 the preceding
year. The surplus from operations of
S3.4ls,057 compared with a deficit of
S313,43i in 1915.
Pennsylvania Railroad. - December
operating revenues on the Pennsylva-
MIA Railroad lines. cast and west, to-
tailed $35, 5S1 100. according to the re
port issued yesterday, an increase of
81 .694.422. compared with the CORE
spending month of 1915. Operating
income OF $6,l17 500 represented a de-
crease of S1,734.s50. The increase in
operating expenses and taxes totalied
S3.429,273. For the full twelve months
Of 1916 the Pennsylvania system
showed total operating revenues OF
S441 .010,4l7, an increase of S69,26I,9I3
compared with 1915. Operating income
was $4,000, 265 ahead of 1915. The re
turn for the twelve months on the
property investment of the system was
6.63 per cent, against 5.59 per cent IN
1915.
American Radiator. Chicago, Feb. |.
The American Radiator Company to-
day declared 80 per cent dividend on
its common stock The announcement
was made by the president of the com
pany, c. VI. Woollcy, who said the diyi-
dend would be payable March - and
would apply TO the present so,lso'ooo
common stock outstanding.
A census of coal tar products, espe-
cially those that may be- used IN the
manufacture of munitions of war, was
recently ordered by the British Minis
ter of Munitions. Under official notice
all persons engaged within the United
Kingdom in the production. manufact-
ure. purchase. sale or distribution Of
any coal tar or coke. or their by-prod-
ucts Cincluding in particular tar. car
bolic crystals. benzol, tolul, ammoniscal
liouor and sulphate Of ammonla) must
furnish to the Minister Of Munitions
such particulars as TO output, working
of plant, cost of manufacture, sales de,
Iiveries. stock in hand. purchases and
,.;.os ,s NAV no called for.