Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-09-12
FINANCIAL BRIEFS

IllNAlNN1AL DNlEID
The average price Of twenty active in.
dustrials declined 0.62 per cent yes
tcrday to 1OT .6S, while twenty railroads
declined OPS per rent to S0.l5.
A step nearer toward liquidatiug
the accumulated back dividends of the
American Hide and Leather preferred
stock is taken in the announcement
that the president Of the company
had selected the personnel of the
committee TO decide IN a plan OF re-
capitalization. One plan under consld'
Grafton. which is admittcd 10 be cquit'
able by some If the common sharehold-
crs. is for the company to issue IN
lieu Of tho back dividends, $500, 600
new preferred, which is the amount OF
tho bonds that has been retired. II
this is done the capitalization would
be S21 900 600 preferred and Sll .0N..
600 ommou with an early prospect OF
dividends on the latter issue.
Senator CumminS's amendment TO
his railroad bill providing for a guar
antcc Of earnings by the government
after the roads are returned to private
operation was accepted with rescrva'
tons by both railroad and financial
circles.
Estimates have recently been made
tending IN show that the total capital
of tho companies engaged in the auto
mobile business is approximately ST.
800. 900 600. which is nearly 5000,
900 600 greater than tho total capital
of national banks in the United states
in 1917. The capital of the national
banks was about 81 $50 600 900 in that
year.
Surplus after charges and preferred
dividends ot the brazilian Traction
Light and Power Company. for the year
ended December 81. 1918, amounted to
$500, go. This is equivalent TO Sl.2o
n share earned on the S1OH.5l3.IOO
. common stock. as compared with a
surplus Of s .6H5.51S. or Sass a share
in the preceding year. Gross revenue"
was $G.122.412. as compared with So
0O5. 13S in 1917.
The matter of providing for tho So
, 800 600 general mortgage ) per cent
bonds Of tho Chocta. Oklahoma and
Gull Railroad. an underlying property
Of the Chicago. Rock Island and Pa.
rifc Railway. has hccn placed before
the authorities at Washington for &C
ton. These securities fall due on Oc-
- .z.4 ,.l IL ,.o laorpnI yoSfnr.
day that the director general has been
asked to furnish the required funds or
have them forthcoming through the Wal
Finance Corporation. The management
If the Chicago. Rock Island and Pacific
is awaiting a reply.
Scahoard Air Line. it is announced
agreed with the railrond administrn
ton upon tho terms Of its compensation
contract which. when executed. will b'
for sc. 900. 025 annually. Under th'
agreement which the road has made will
the administration, gross corporate in
come for the two years Of federal con
troll llast four months in 1919 csti
r natpdl was S14.10o. ia. The amour
Of additional compensation allowed b,
, the railroad administration was !
600. and was the largest so far al
lowed. When divided over two year
the Seaboard gross would average 81.
900. S5T. and tho difference between thi
and the actual yearly compensation i
due to other corporate income enjoyed
by the road.
Yesterdays remarkable demonstratio
on the New York Stock Exchange one
moro vindirateS the time honored in
junction of the street. 'ncvCr sell o,
| strike news Some people, however
never will learn.
According to statements in importan
circles silver producing properties, rS
p~pcially those in Mexico. are likely +
become far moro prominent in Stor
market trading. II was said by some q
these interests that American Smrltin
has increased its silver production to