Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-28
WALL STREET BRIEFS

NEW YORK, August IS R.-As-
gregate net operating income oil the
first 40 class ] railroads to report
earnings for July amounted to S76,-
$4,000, against $59,620,046 for the
same number of roads in July last
year, an increase Of 29.7 per cent ana
a gain of 80 per cent over June inns
wear Gross revenues Increased a.
per cent, with a total OF $36O,6ol,ozz.
Gratifying increases in production,
shiDmentS and new business OF Sofl-
wood and hardwood mills of the coun-
try in the week ended August Il IS
renorted bv the National Lumber
manufacturers Association. in COM
harrison with the week before. I'm
filled orders of 23l Southern Pine and
West Coast mills declined to 6G6,oo3,-
IT'S feet from 678,S75, 129 feet the
week before.
H. r. Mailinson & Co, Inc, ana
subsidiaries report net loss or S43o,4o'
for the first half of 1925.
The New England Public Service Co.
has declared an initial dividend OF 40
cents on the common stock for the
six months ended August 81, payable
September is to holders OF record
September l. The regular quarterly
of $175 on the preferred also was
authorized.
A special meeting of stockholders
or the CeloteX Co. has been called fol,
September to vote on an increase
in preferred stock from $4,000 to 2oO,-
600 shares, 500 par, and common
stock from 10000 to 100000 shares,
no par value, and to create Il new
issue of 10000 shares of 5 per cent
cumulative class 3 stock.
Sinclair Refining Co. today adj
vanced the price of kerosene i'll rail-
road tank cars y cent gallon at
New York, Philadelphia and At
lantic Coast terminals. The new quo
tation will be IL cents.
Profit of Kelsey Wheel for the first
half of 1926 declined to S670.2S1 be-
fore Federal taxes. from SSS4,155 in
the first half of 1925.
The Ward Baking Corporation has
placed contracts for the construction
of a large bread and cake plant in
Baltimore A substantial addition to
the company's plant in Columbus.
Ohio, will be completed by the end OF
the year and plants in Jacksonville.
Fla, and Birmingham. Ala. will he
in operation in month or two.
Private dispatches from Los Angeles
TO Wall street say new properties &C
ouired by California Petroleum IN
Montana have production OF about
o6 900 barrels daily in the SunburSt
Neid and other substantial produc-
ton under contract.
Net profit of the Pan-American
Petroleum and Transport Co. for the
first half Of 1926, amounted to S15,-
1856, equivalent to $3.50 a share on
the common stock outstanding. com
pared with $16,539 900 or $500 share
on the common in the corresponding
neriod of 1925 The report does not
include any proportion of the pront
of I.ago Oil and Transport Corpora
ton. Consolidated surplus for the half
year was 2.471 1876. an increase In
six months Of $7.1l3,l15:
David Pender. chairman of the
board of the David Fender Grocery
Co. announced Yesterday that he
would resign from the company on
August 81.
July net operating income or tne
Chicago and Northwestern advanced
10 s2.44S.7O7 from S2,23o.S9S in July
last year and for the seven months
of 1926 to sl2,25O,06S from 50, 1872 $50
O year ago.
Expenditure by the Florida East
Coast Railway Co. of about SCI .000, 900
in extensions and improvements is
planned for 1926, says IL. \. Roden-
haugh. vice president and general
manager, who reports that the cost
of improvements to the system for
the last four years will then amount
10 $4,000, 900. A second main line
double track virtually was completed
this month between Jacksonville and
Miami, 366 miles.
A convention TO stabilize prices and
standa rdize goods has been formed by
xayon producers Of Germany.