South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-11-18
FINANCIAL

According TO a Philadelphia in
terview. PRIEST A p. johnson OF the
Baldwin Locomotive works. said:
The company IS constructing as
locomotives a week. This is at the
rate Of more than one for every
working hour OF the day. IL is not
"A miNmum accomplishment. We
shall do more"
There is a great deal of criticism
over the way in which the copper
earnings reports are manipulated"
There is a strong tendency in all
companies toward great conserva-
tism. charge offs. depreciation, etc,
all of which is, Of course, placing
many companies in a strong posi-
ton.
IL is reported that the output of
most of the important copper mines
are expected TO show an increase
monthly from now on. The strike
situation is understood 10 be much
improved.
IL is estimated in some quarters
that as much as $50 a share on
the common stock Of the American
sugar Refining Co will be shown
during the present year after war
taxes shall have been deducted. In
creased value of investments own
ed makes additional equity for the
shareholders.
II is estimated that $500, 900, 900 to
$3.50, 100000 will be the total ofIend
of the year disbursements Jan. 1.
The operation is expected 10 do
much toward caring for the last
Liberty loan payment due Jan. 10.
Earnings of the National Biscuit
/ Co are running at a satisfactory
rate and the company has not had
TO borrow money TO take care Of
increased inventories made neces-
sary by the higher cost Of raw ma
terials. Shortage of sugar may re-
suit in smaller sales Of iced and
frosted cakes and the company will
have TO concentrate its efforts in
pushing the lines in which there
is no shortage of raw materials due
TO war conditions.
Frank NJ Forrey has been ap-
pointed assistant secretary and trust
officer Of the Fort Dearborn Trust
and Savings bank. He was for
merly manager OF the credit depart
ment OF the Fort Dearborn National
bank
So far in the present movement
there has. been engaged S3.25O,OOO
for export to Chile. OF this total
100000 already has been taken.
Directors Of the Crucible Steel
Co were rejected for the ensuing
year by stockholders at the annual
meeting yesterday
Among the concerns declaring
extra dividends yesterday were the
Copper Range and Chesebrough
manufacturing companies.
An advance in refined oils by
Standard oil of Indiana brings
prices. tank wagon basis, up to the
following level: Gasoline, 21c; nap
tina. 20 I-2c; perfection oil, 10 lie.
output Of pleasure cars by the
Studebaker corporation in 1918 will
be cut so percent under the output
for 1917. However. the output for
1917 was 50. much larger than that
OF 1915 and 1916 that the output
planned for 1918 will not be more
than 20 or % percent under the
average output of the last three
years. The company's new $4,000,
600 addition TO the plant is near
ing completion, and, with the added
facilities. will be needed for gov
eminent contracts
The 1861 Cuban sugar crop has
been placed at 3.019. 936 long tons
by the Cuban representative Of tie
Federal Sugar Refining Co. This
crop has been variously estimated
at from $500, 600 10 100000 tons,
and compares with 3,O06,624 tons
for the 1914-15 season and 3. 100000
for the 1917-1S crop. estimated by
the publicity bureau of the Re-
public OF Cuba
An injunction has been issued
against the r. I. Du Pont De Ne
mours Powder Co restraining the
use OF corporate assets of the COM
pany 10 retire the capital stock 10
the impairment OF rights of bond
holders. In rendering the decision
Vice Chancellor Bakes of Trenton.
y. J., condemned as illegal certain
features OF the plan for reOrganiza-
ton and financing of the company.
Gross earnings of the Barnes King
Co for the third quarter ended
Sept 50 were $156,SS1. The only ex-
penditure for this period was the
rual payment on the purchase of
the shannon property. which
amounted 10 S61,442 on Nov. Is.
the company viii pay dividend of
percent on its 100000 stock.
which viii bring dividend disburse-
ments for the year up to 100000.