Evening star., 1925-07-28
AP|N-SACKS NETS
S392,543 TO JULY
Equals 1892 on Common.
Local Issues Firm-Zero
Pays Dividend.
BY CHAS. p. SHAEFFER.

e.
turned net earnings of S392,543 for
the six months ended June 30 last.
compared with $189,746 for the cor
responding period of last year. This
return is equivalent to 1892 a share
on the 100000 shares of no.par-value
common stock.
Net profits of the corporation in the
month OF June aggregated $225.45O.
against 100000 in the same month of
last year
Detailed figures of operations dur-
ing the period under discussion are
not available for public CONSUMPTION.
put II is the declaration of officials
lhaI the company is functioning at
peak capacity, both in volume of
business and in revenue.
Zero Products Pay Dividend.
Inc board Of directors of Zero Prod.
ucts, Inc, at their regular noaatine
held yesterday, declared a I2 per cent
dividend on preferred stock to hold.
ers OF record for seni-annual divI-
dends Nos. 1, 2 and 8
Inc presidents report to the board
showed the company's sales are aho,+
douple the same period last wear and
Ihe working reports for January to
June, inclusive, show net earnings AT
ei eiIe rate OF 40 per cent on outstanding
preferred stock.
Inc business of the COMPANY u,htob
is now two years old. shows very "a ma
growth. and the present bookines ~
new business indicate a larpeT in
~ - ease IN sales for the remainder oP
Ihe year than the working reports al.
Ieauy snow for the first hall of the
year. "a LAG
Local Exchange Strong.
SfFPnDfh u,
u.ni- uoiliiiiant feature Of the Washington
stock market this morning Ths
IIdulng volume was relatively li7bt &c
compared with recent sessions this
however, being shadowed by neal
prices in active issues.
heFSenthaIer Linotype continued its
pIecIpituous advance, selling upward
TO l96 on two five-share transa c+ions
ana railway common gained seyaraI
Points TO 11412 on sales Of 22 shares
.,eLi c;y ~dy preferred stock brought s415
ana capital Traction sold at par.
National Mortgage and InvestnAnt
preferred, was firm, selling to the ax,
tent OF 200 shares at 95. and 81 00o
fotomac Electric Power sevens
brought 10715.
Many Bonds Outstanding.
Notwithstanding official notioAs
sun ABOUT SI,6UO,OOO Of
american Telephone and Telesranh
GO. convertible 6s of 1926 outsts ndine
These bonds mature August / and IF
not previously converted will be paid
OH at their face value. Until that
GATE they are convertible into stock
Sl0O in bonds, plus Sc for one share
OF American Telephone, selling frac
tlonally above 140. thus giving the
ponds an actual worth of approx
The negligent holder. who fails TO
exercise exc his conversion privilege, or
sell his bond within the next few
days, will suffer a loss of approx.
mately S340 per 81 900 bond.
Nearly $4S,000.000 of the original
issue have already been converted. For
the past four years bondholders who
converted, have increased their in.
come $50 per bond by the action. with
an additional investment Of $50 per
pond. Under these circumstances It
seems probable that a good portion
OF the remnant of these bonds still
outstanding is in the hands of peonIe
ignorant of the value of the privilege.
Audit Still in Progress.
Reinstatement proceedings of Dean.
Onatlvla Co. cannot be consum-
mated until auditing of the firms
vised this morning. The auditing. in
turn, cannot be consummated until
every customer acts on the adjust
ment proposal on accounts as between
the company and the customers. for
warded the latter some time ago
While customers replies are being
received in rapid order, the Washing
ton office will not hazard a guess as
10 when the definite status of the
house will become known.
Southern's Earnings Gain.
Southern Railways June earnings
were larger than June last year. the
net operating income gaining $465,540
TO $3.50, 309. Gross revenues in.
creased $702. .260.
The net of S14,592,463 for the half
year compared with s12,753,156 a year
ago, while the gross was $40, 1896, ,s29,
against $69,619,5SI in 1924