South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-05-05
Notes of the Financial World

the prospect of eight per cent as
regular distribution, Steel common
under par may be reasoned out as
attractive in price.
Some of the Wall St bulls talk OF
II per cent and the stock selling on
an eight per cent basis at 200. This
is reckoning at the outside but it
will be remembered that the stock
has already sold close to 14O. Steel
common was we'll bought and while
the price did not advance, the alb
sorbing power was noteworthy.
America Locomotive and Baldwin
Locomotive has not as yet re-
sponded in a market way to the
SIS, 100000 of locomotive contracts
being placed by the government. 1t
may be pointed out further that for
the two fiscal years ended on June
30, 1916 and 1917, American Loco
motive showed a surplus Of S57.SS
"a share available for the common
stick.
Baldwin Locomotive paid ont no
dividends on the common in 1916
and 1917 and added S73,66 a share
to assets. These considerations are
expected to have later an influence
on the share prices of the two com
panies. Yesterday both stocks were
about steady.
Friends Of the international
Paper company assert that the ad-
t-o moo Of nina po;pts i, tbo oo,,,
mon stock to around 80 is warrant
ed by the belief that dividends on
the common will be shortly inaugu-
rated. 1t is not thought such action
will be taken at T<reting of di-
rectors scheduled next We'd
nesday.
The market readily ahssra,sd all
profit taking and this. - few OF
the strength of the last Few days,
was altogether reassuring. Commits
sion houses were inclined to predict
even higher prices next week in the
event of there being no decidedly
unfavora BILE news from the western
front. The market, however. is pre-
pared to ignore moderate retire
ments by the British and French in
the event Of the Germans renewing
their offensive on a large scale.
From no source have there come
expressions of pessimism. Merely
to state a fact there is fixed faith
that sooner or later the allies will
win.
Brooklyn Rapid Transit notes due
July, 1918, net about 20 per cent
selling at 97%. There is every rea-
son to believe these notes will be
paid.
Based on present financial posi-
ton Of international Paper COM
pany, opinions to the effect that di-
rectors will shortly declare divi-
dends on common stock appear to
be justified.
Building construction plants Of
the United States government are
total building construction Of the
government for the three-year pc
riod ended 1917. Plans run into
1919 ana 1871.
An official Of the Chicago Pneu-
matte Tool company reports all
p ants running at full capa city. with
orders from four to six months be-
hind in delivery.
Pullman stock is loaning 1854
% &c
ment made by Pres't Runnells that
the cOmpany's earnings are the
largest in history.
Pittsburgh & West Virginia Rail
way have over s4.OOO.OOO cash on
hand, acquired since receivership
was lifted Is months ago. In =
months ended April common
stock earned 100000. equivalent
TO about SIS a share.
B F. Goodrich company advanced
tire prices 10 per cent \ similar
advance has been made by Repub-
lie Rubber company.
American Linseed company has
advanced prices OF linseed oil in
barrels two cents 10 S1.57
The annual report OF Mexican
Petroleum viii not be available for
q couple Of weeks more What il
viii show after reductions for war
taxes are made is not yet definitely
known. but the best opinion IS that
II Will be in the neigh borhood OF
Sls per share.
Directors Of the Bethlehem Steel