New-York tribune., 1917-07-10

Co., OF this city, and Mr.. foio per
sonally have Joined in a plan that as,
sures the company of sufficient capital
70 carry on its business.
Sinclair Oil and Refining.-The stock
sold up to 44A yesterday, but closed
unchanged at 43iz. II. F. Sinclair, pres
dent of the company, issued state
ment, in which he said: "Net earnings
from the operation of the corporation
applicable TO interest, dividends and
other corporate purposes can be con-
servatively estimated at sl4,0O0,OOO
This is based on existing prices, which,
in my judgment, do not reflect the pres
ent high cost of operation. Our estlmat-
ed operating expenses, however. take
present costs into account Referring
TO recent acquisitions made BY the cor
poration, Mr.. Sinclair said: The prices
at which the corporation has from
time 10 time acquired these properties
are far below those now prevailing, and
the contracts already entered into LOT
pipe lines, refineries, tank cars, ETC.
have been made at prices FAR oelo"
present levels. While there has been
no charge for depreciation, there has
been no credit for appreciation, which
has actually been many times more
than any depreciation. However,
system of substantial depreciation
charges is being formulated"
Jupe Mining Observation-Disclosures
paid in June, 1917, by forty-nine United
States mining and metallurgical COM
panies making public returns amounted
TO s3s.365 .93s, according to "The En-
qineering and Mining Journal com
pared with s35,590,47S paid by hfty-
three companies in June, 1916. Hold,
inc companies allied to mining paid
s768. .49S. as compared with Sl,58s ,492
in 1915. Canadian, South American
and Mexican companies paid sl,S92,6Ol
in June, 1917, and $l,93l 1888 In june
1916.
+. w, Woolworth.-Sales for the
month Of June amounted to s7,93S,OlS,
a gain of S1,133,924, or 1886 per cent
over the like month in 1915. This Is
the largest monthly gain reported dur
ing the current year From January
/ TO June 80. total sales were Sal ,5Oi,-
8e3. compared with S37 ,704 for the
first half of 1916, or an increase OF
ll.S5 per cent. The company an
nounces that ten new stores were
opened for business during June. and
forty more are under lease, TO be
opened this year.
Use Of Electric Power Increased
Central station power sales for April,
according to "The Electrical World"
were approximately s3S.000,000, an in
crease Of 1879 per cent over April, 1916.
The output sold was 2,l80. 100000 X. w..
h.. an increase of 22.S per cent over
April. 1916. Light and power sales Tor
the first four months of 1917 amounted
TO approximately S160.00O,OOO, which IS
an increase Of s20,000,000, or 1873 per
cent. over the corresponding period OF
the previous year. The output in this
period was $50. 100000 K. W. h., an in.
crease of / 500. 100000 X. W. h., or 23.4
per cent. Based on these increases, 1t
is believed that the central station IN
dustry will pass the half-billion marx
for the first time in 1917.
Great Northern Ore.-St. Paul ad-
vices stating that the NJ. A. Hanna Com
rany. of Cleveland. has leased all the
remaining active Great Northern Ore
properties and is now operating them
was confirmed yesterday Mt the local
Offices Of the ore company. IL is re-
ported that the lease involves equip
Inent and about 25,000.000 tons of ore.