New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-01
Relevant Facts

Etna Explosives. committee
formed February 10 to protect the in
terests of the stockholders of the Etna
Explosives Company has announced its
intention of disbanding, the members
taking the view that differences be-
tween the common and preferred share
holders may arise because of the re-
cent appointment of receivers. In a
circular made public yesterday the COM
mittec attributes the present condition
Of the company 70 over-eXtended bust
ness on insufficient working capital;
inability TO carry out its contracts at
"A profit. owing to the low prices at
which they were taken and the high
cost Of materials; costly and unneces-
sary construction, expensive expert
mentation and excessive commissions
paid. Accountants employed by the COM
mittee reported that the company did
a gross business of approximately S45,-
cocoon in 1916. some of which was con-
Quoted at heavy loss. The report
showed that in order to pay pressing
claims. lquidate loans and provide ST.
100000 working capital S4,500,000
would be needed. On December 81 last
the company had $8,881,25l materials
on hand, in transit and in process Of
manufacture. and only S160,O9S in cash.
The committee reported that it has
been endeayoring TO obtain modifca-
tons of the company's British, French
and Canadian contracts.
Nashville, Chattanooga & st. Louis
ailroad.-The annual report of the
company for the year ended December
81 last shows total operating revenues
of $13,519 588, an increase of $l,979,'
745, compared with 1915. Net after
taxes amounted to $3,421 ,661, an in
crease of Sl,202. 1872. The surplus after
charges was $3,056,935 equivalent to
S191O share, compared with 1897
share earned in 1915.
Bethlehem Steel Directors of the
corporation will meet Thursday for
action on the dividend on the common
stock. In accordance with the resolu
ton adopted by the board in January
the distribution will be 2ls per cent
for the quarter.
Minneapolis, st. Paul & Sault Ste.
Marie Railway. report of the sys-
TEN for the fiscal year ended December
81 shows a surplus of $7,77l, 058 after
deducting operating expenses and other
charges, representing an increase over
1915 Of S2.3l6,020. The annual report
OF the Minneapolis, st. Paul e. Sault
Ste Marie Railway Company proper
shows surplus of s5,25S,595.
American Mailing. company re-
ports for the six months ended March
81 sales of S5,0i4,S45, compared with
$26S7 600 in the corresponding period
of 1916. Net earnings for the period
were 1922 1853. compared with Sl75,069
year ago. Net earnings for the cur
rent six months will bring the total for
the year up TO nearly Sl,000,000. &C.
cording to unofficial estimates. II is
officially stated that plan is being
worked out which will provide funds
TO cover all accumulated dividends on
the preferred issues.
Pennsylvania System. 49, Operating
revenues for the entire system in
March showed a decrease of s973.475,
the total being S6,933,703. On Lines
on "lnes West" s790,414. Earnings
lot the HISL three mOULHo VI lnlo year
compare as follows:
Amount. Increase.
Lines East:
TT op. rev. .s72,056,355 s5,26o,353,e5
TT op. exp. 61,555,688.83 8,459,1t9.37
op. income 500, eee. is $50, 1873, 7eo42
Lines West:
TT op. rev.. 1896, 1929 t,7n,t2t.S5
TT op. exp. 31,644,439.32 ,881,77389
op. income. s2.752, 328.e1 's4. 17o,65203
Lines East and West:
TT op. rev. 106, 45S, 1924 6,97t, 48o.8o
TT op. exp. 93,200, 128.15 ID, $40, e9325
op. incomes ,2s2, $500 81, 3es.4,2.45