New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-27
Relevant
Information
General Chemical Company.

Nenerdt NHtUllCdl Company ihio
company earned S7.5i per cent on its
common stock last year. against 1901
per cent in 1915. William II. Nichols,
chairman of the board of directors, in
his report TO stockholders, says: "The
year 1916 has again seen our plants
working at full capacity, including the
extensions of 1915 and those completed
during 1916. While a spirit of con-
servatism has made us reluctant TO in
vest in new construction at this time,
We have nevertheless felt our respon-
sibility toward our customers and the
country, and, in consequence, have eX-
tended our plants by the expenditures
of s3,697,5l9. It was deemed wise TO
capitalize portion OF this increase in
our fixed investment by an extra divi-
dend Of 5 per cent, besides a special
dividend of IS per cent, payable Febru
airy I, 1917, to common stockholders Of
record December so, 1916. these diyi-
bends TO be convertible into new COM
mon stock at par The extra compensa-
ton to the workmen and staff, based
upon profits, has been charged off with
certain notifications which recent con-
ditions have made necessary in order
to protect the interest of stockholders
and profit-sharers alike"
Southern Pacific. - The Southern
Pacific system reported yesterday for
December, showing gross earnings Of
SIS ,396,82S, an increase Of S2,63S,60G,
compared with the corresponding month
Of 1915. Operating expenses totalled
sic, 24O060, an increase Of S1,SS8,Ali,
leaving net operating revenue of s5,-
156,76S, all increase OF S600,191. De-
Quoting tax accruals of 81 1853, 1872, the
net income amounted TO So
686,503, decrease of $4,000, compared
with a year ago. A statement accom-
psnying the report said:
Operating expenses for December.
1916, include sl.O66,000 or one-half of
approximately S2,132,0O0 additional
allowed certain classes Of
employees for services rendered to the
company during the abnormal condl-
tions brought about largely by the
European war. The remaining onc-half
of such additional compensation will
be paid as Of June 9o,.l9l7, and will be
included in the accounts for the fiscal
year ended December 81, 1917. Increase
in taxes is due principally to including
in the account for December last of an
additional assessment of | per cent on
the income for the year ended Decem-
Der 81, 1916, as provided in the income
tax act approved September 8, 1915,
and effective January l last year. Also
TO other additional assessments paid
during the current year on account Of
the income for previous fiscal years"
New York Central. - Arrangements
have been made by the New York Cen
trail Railroad to sell within the next
few days Ss.OOOOOO one to fifteen-year
Az per cent equipment trust certif-
Gates. The proceeds are to be utilizcc
in paying for 80 per cent of the cost
of approximately 1000 cars now being
delivered. 20 per cent having already
been paid in.
Bethlehem Steel.-With reference to
clause in the circular sent to stock
holders of the Bethlehem Steel Cor
poration which said that authority for
the creation Of new first and refund
ing mortgage might be asked of the
stockholders at the annual meeting in
April. statement was issued by the
company yesterday TO the effect that
no sale OF bonds is contemplated in the
near future. "The company is simply
taking advantage" the statement ex-
planned, "of the assemblage of stock
holders at the forthcoming annual
meeting in April TO obtain the neces-
sary authority for a mortgage, in order
that bonds may be available for issue
when the time comes"