The Washington herald., 1918-02-26
From the Financial Ticker

yesterday gave the following an
alysis of the market situation:
John Moody &c Co.-After the
rather sustained rise Il is quite
possible that a moderate reaction
may set in. especially in the more
speculative stock market. But there
are undoubtedly many investment
bargains in both the industrial and
railroad lists which are well forth
considering on any good reaction
in prices.
J. s. Bache & Co.-The stock mar ,
ket has forecasted coming prosperity
during the year. but Contemplation
Of what effect payment of a great
tax and the issue Of large gov
ernment loan may have upon the
financial and business situation tend
to hold back the price advance.
z. r. Hutton & Co-Commission
houses are not buying stocks or
increasing their obligations While
this state remains. any big liQuida-
tion 10 improbable. The railroad
bill should become a law in the
next few days. The war finance
corporation bill will follow. We see
very little distribution of stocks.
In connection with the notice to
the New York Stock Exchange by
the Chevrolet Motor Company, of
its intention to dispose of its hold
ings of General Motors stock ii is
officially stated that IL is planned
by the Chevrolet Motor Company to
liquidate by distributing all of its
stock OF the General Motors Cor
poEation now held in its treasury 70
the present General Motors stock
holders together with 2s2.6S4 shares
that II Is to receive from the Cen
eral Motors for its plant and assets
exclusive of present General Motors
stock on the basis OF Ii shares of
General Motors stock for each
share Of Chevrolet stock now out
standing. AS soon as this is ac-
complished the Chevrolet company
will be completely liquidated and
its stock will no longer be out
standing. but the company will con-
tinue and will be known as the
Chevrolet Branch of the General
Motors Corporation.
Ninety-day British treasury bills
which ]. P. Morgan & Co. have
been Offering for sale during the
past two weeks at a discount of
1-2 per cent have been raised to a
per cent basis. This action is a
result OF United States Treasury
advancing the rate on certificates of
/ Indebtedness from to tl-2 per
cent and the general hrming up in
the local money market recently.
There Is q miscoaception with
regard to the weekly offerings of
these British treasury bills. While
I n NHrff
they are limited to a weekly offer
ing Of $4,000, 900 it does not follow
that this amount is either offered
or needed each week. There have
only been few occasions when
the weeks limit has been offered.
Nevada Consolidated earnings
for the period ended Decem-
ber 81. 1917. compares with the
same period OF 1916, as follows:
Net earnings. decrease. $2,7O3,661
Depreciation. increase 1861
Ore extracting. decrease. 32,4s4
Balance. decrease. se.......... 2,6SS,679
Dividends, decrease. ... 9S9,72s
Deficit, increase. e.....I I,6ss,75l
Baldwin was under pressure Of liq-
uidation on the New York Stock Ex-
| change all of yesterday. The ac-
tion taken in writing off $4,000, 900
of surplus for good will and
patents" in the annual report while
improving the value of the stock,
left a surplus OF only s55,O0O, which
plainly indicates no dividends in
sight for it for probably the next
six months.
Under provisions of contract
signed Saturday between the Ten
nessee Copper Company and Inter
national Agricultural Corporation
approximately So a share should be
added this year TO copper company's
earnings or $l.5o on the stock of
Tennessee Copper and Chemical
Company which owns practically
all Tennessee Copper stock.
New York Central December
gross increase. S1.OS5.42o: net after
tax increase. S1,271,954. Net operat-
ing income increase, $1,442.169
Twelve months gross increase, Sl5,-
CS2,209; net after tax decrease, Sl4,-
471,S97. Net operating income de-
crease, Sl4.sSs.So5.
Net profits of United Drug for
year ending, December 81, last, were
SS,156,006. For eleven months end
cd. December 81. 1916, net profits
were s2,O14,S09.