New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-24
Relevant Facts

Motor Companies Declare "EXtras" -
In view OF the recent weakness of the |
automobile stocks, due apparently TO |
selling based on a belief that the war /
would cut deeply into earnings OF
motor manufacturing companies IN TINS !
country, dividend announcements yes
terday by two important corporations /
engaged in the manufacture of motor |
vehicles excited interest IN Wall Street. !
The Chandler Motor Car Company de- |
cared the usual extra dividend of l /
per cent for the quarter, in addition to |
the regular quarterly disbursement of
9 per cent, while directors OF the /
Pierce-Arrow Motor Company voted an
initial dividend on the common stock /
the Chandler directors il developed /
that there had been an increase IN /
business, in the period from January /
l 10 April 80 this year. OF l34 per cent /
over the corresponding period OF 1870 /
and an increase in the prohts Tor the
period of 1872 per cent. 1t was stated
that net profits from January ] TO June
| this year would approximate Sl,2O6,-
900 with the last ten days OF May
estimated. The Pierce-Arrow company |
reported that for four months ended
April 80 last, after deductlng all eX-
penscs and accrued taxes, except taxes
on excess profits, net operating prohts
were s1,502,83 The tax on excess
profts for the four months period on
IL. tfp.r Ian ~.
$4,000. II is officially
announced that the company will here.
after publish quarterly statements OF
net earnings.
June Disbursements.-Divi and
interest disbursements in June to hold
ers of American corporate securities
will set a new high record for that
month. The total will reach Sl56,Ool,.
275, according TO the compilation OF
"The journal Of Commerce. compared
with slS7.67s,1 03 in June, 1916. Stock
holders will receive in the way of dlyi-
dends s87,65l ,275, compared with soo'-
O7s1O3 a wear ago, an increase OF ST.
773I72. This is due mainly 10 the TACT
that the United States Steel Corpora
tion will disburse per cent in addi-
tom TO the regular quarterly rate OF
a ner cent-a total of S2l ,6O2,ooo. In
June wear ago the Steel Corporation
paid only the regular quarterly divl-
dend. Interest payments IN June VII
amount TO $4,000 900, compared with
s72, 500, 900 in the corresponding month
a wear ago. Interest on the SoO,OOO,-
600 imperial Russian government OF
per cent external gold loan. calling for
sl.375,0 900, will be paid. New YORK
City will distribute sS,OO0.0OO IN IN
terest.
Interborough Rapid Transit Com
for April gross operat-
ing revenues of 1881 ,026. an increase
Of $4,000, compared with the cor
month of 1916. Net operat- I,
ing revenues were S2,070,s82, an in /
crease of S37.210. The company car
ried 67.610.623 passengers over IT'S
lines, compared with 62,093,s5l in April
last year. For the ten months ended
with April the company's gross earn,
incs amounted to 33,097,41 compared
with S29,702.744 year ago. while tne
net was s17,03S,S33, compared WITH
In the ten months the
company carried GA, 1886 passengers.
compared with 565 ,495,6s5 in the cor
responding period of 1916.
Ohio Cities Gas.-Gross earnings OF
the company in the fiscal year ended
March 81 last were S0,74O,o4i. COM
pared with S3,209,69S the year before.
Net. after taxes. amounted to S3,f4o,-
.s6. compared with Sl,553,9l6. The sur
plus. after all charges, including dlyl-
dends Of sl,5l6.360. was S2.Oe1,4if'
compared with s379,971 in 1916. The
company will hold its annual meeting
al Columbus on June 5. when the stock
holders will be asked TO vote on IN
creasing the authorized common stock
from sic, 100000 to Sl00,OOO,0OV.
Montana Power Company.-1hec COM
mon stock was placed on an annual
dividend basis of per cent yes'er-
day, when the directors declared reg
ular quarterly disbursement OF ~ per
cent. The stock has been on per
cent basis. After selling up to loZ on
the exchange yesterday 1t reacted 10
SO, a net loss of l point.
Union Bag and Paper.-The directors
declared the regular quarterly DIVIDEND
of III per cent yesterday. The com,
pany announced that hereafter 1t VIII
issue quarterly statements. The com
bined income account for the three
months ended April 80 showed net
earnings of $685. 22. The balance. after
charges for maintenance, depreciation
md interest on bonds, was sfl2,os9'
The company reserved 100000 TO cover
the Is per cent excess proilts TAX; ING
final surplus for the three months OF
$500 $50 was sufficient 10 pay the per
cent dividend on the stock oil the cor
poration for whole year.
Greene Cananea Copper.-Announce-
mont was made yesterday that the al.
rec,or. Of the Greene Consolidated
Gamer Company and of the Greene
Cananea Copper Company have decided
il is TO the best interests OF the snare
holders that the latter organization pc
made the sole stockholding company OF
enterprises. At present the
MEXICAN mines and plants are owned
nv the Cananea Copper Company ana
the San Pedro Copper Company, when
arc owned bv the Greene Consolidated
Conner Company, and which in turn IS
owned by the Greene Cananea Copper
Company. An offer has been made ny
the Greene Cananea directors to pur-
chase all Of the property and assets
except the corporate franchise and
good will Of the Greene Consolidated,
and the stockholders Of the latter COM
pany will vote on the proposition at
the annual meeting on June II. Inc
directors of the Greene Consolidated
have already voted that the offer be
accented and the company dissolved,
thus effecting material saving IN
and operating expenses by
duplication in income and
excess profits tax and other corporate
outlays.
Sto.L Exchopoe RI