New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-11-06
Relevant Facts
United States Cast Iron Pipe and

United States Cast Iron Pipe and
Foundry.-The executive committee OF
this company yesterday declared div
idend of per cent for 1918, payable IN
quarterly instruments from the 1917
earnings. In announcing the action, l..
R. Lemoine, president. said: I'm view
of the widespread feeling Of confusion
and apprehension, due to prevalent war
conditions, and more especially 20 the
possible effects OF price fixing and war
taxes upon dividends to be received by
holders Of corporate securities, the ex-
ecutive committee Of the United States
Cast Iron Pipe and Foundry Company
has, after carefully considering the
present situation, decided to assure its
preferred stockholders that the same
rate Of dividend received by them dur
ing 1917 will be continued during 1918.
This announcement is made possible
because Of the very satisfactory earn
ings of the last nine months ended
September 80. After deducting war
taxes and all reserves. both in larger
amounts than ever before, net earn
ings applicable to dividends amounted
TO Sl,32S,73O. or at the annual rate OF
14.7 per cent on the preferred stock"
October Mining Dividends. - Total
dividends paid by forty-eight mining
and metallurgical companies in Octo-
Der. according 70 the Engineering and
Mining Journal" amounted 70 sS,71o'-
90. compared with sl3,728,122 dis
bursed By forty-fve companies in the
corresponding month year ago. Cana
dian and Central American companies
paid st,2S7,137, against sl.769,761 in
October, 1915. The decrease Of about
100000 is largely accounted Tor by
the New Jersey Zinc Company making
an extra payment Of S3,oOO,OOO IN
October a year ago, while no such item
appears in this years figures. There
were also decreases in the dividend
rates Of such companies as Osceola,
Isle Royale and North Butte this year.
For the first ten months Of the current
wear total disbursements were AS fol-
lows: Mining and metallugical com
panies. S179,201,367; holding COM
panies' s4.979,361. and Canadian, Cen
trail American and Mexican mines, &c.,
38l,s57.
New Shipping and Shipbuilding Com
panies.-The aggregate authorized cap
ital invested in new shipping and ship
building concerns in the month OF Oc-
tober. according 20 "The Journal OF
Commerce" amounted to s9,650,00
compared with 100000 in the month
preceding. This compares with ss4,-
O25,OOO invested in June, Of this year,
the record total for any one month
since the beginning of the war. The
total authorized capital put into such
companies during the first ten months
of this year totalled 59,943,00O. and
since the outbreak of the war new
money invested in shipping and ship
building firms represents an aggre--
gate expenditure of s36S,9l5,000, of
which more than 30 per cent has been
contributed during 1917.
Virginia Railway and Power.-The
annual report for the fiscal year ended
June 80, 1917. covering properties
owned, leased and operated, gives gross
operating revenues of S6,0i4,. 95,
against s5,645,15S in he previous year.
Net earnings were S3,1O3,202. compared
with $2,968,979 a year ago, and he bal
anee. after taxes, fixed charges, de-
probation, etc, totalled 1892. lS3, equal
70 S2.52 share on the common stock,
against s479 in the preceding year,
after allowing for dividends on the
preferred issue. There was a deficit OF
s2.G5l after deducting dividends on the
common and preferred stocks. COM
pared with surplus of S322,SS3 as OF
June 80, 1916.
Porphyry Copper Output.-Produc-
ton figures of the porphyry copper
companies for September are mixed.
The Utah Copper Company produced
l7,S3s,37s pounds Of copper, against
1S,796,O12 pounds in August, and Ray
Consolidated, 7,413,ss1 pounds, COM
pared WIN t,ffJi''J pOuuuS III mug usS.
Chino's output jumped from 6,s24,l27
pounds to 7.7l9,4 1876 pounds, and Nevada
Consolidated produced 6,524,352 pounds,
an increase of S4,3GS pounds over
August.
Dividend Disbursements.-Di
OF the Great Lakes Steamship Com
pany have declared an extra dividend
of IS a share. payable November 10 TO
stockholders Of record November 5.
An initial quarterly dividend of sl.75
a share has. been declared by the
Gillette Safety Razor Company on the
new capitalization Of 100000 shares,
payable December to stockholders of
record November 10.
The T. II. Symington Company has
declared the regular quarterly divi-
dend OF per cent on the preferred
stock, together with an extra dividend
Of per cent on account OF dividends
in arrear on the preferred issue, both
payable November Is to stockholders
Of record November 8.
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