Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-02-28
Commodity Markets Mixed.
WALL STREET BRIEFS

NEW YORK, February 81 OP).--
Net operating incomes of the first Al
railroads to report January earnings
was 1856 900 less than the $40.767 900
reported by the same number of car
rierS in January last year. Gross rev
enues aggregated 1901 1867 900 against
$3O5. sos. 900. December net operat-
ing income was $57 1927 600.
Extensive improvements involving
81 900, 900 will be started soon by the
Southern Railway system on six of
it's lines covering about 900 miles Of
road to increase traffic capacity and
operating efficiency.
Bank clearings throughout the
country for the week are compiled at
SS,353 ,S5l ASP by the Commercial nd
Financial Chronicle. compared with
SIS. 063. al .535 a year ago. an increa Sc
of 36 per cent. New York City gained
Is per cent.
The consolidated statement of
Houston Oil Company and Houston
Pipe Line Company for 1925 shows
net income Of 81 .350325 after depre-
citation, depletion and Federal taxes,
against 81 .51S.792 in 1924. excluding
! Houston Pipe Line.
wall street hears that Penn Sea
board Steel shortly will readiust its
capital. although nothing definite has
been decided 1t is thought likely tina t
the number of shares will he reduced
with an exchange of the present stock
for new issue of common. Late I'm
1925 the company announced that It's
funded debt of $l.635 499 had been
wiped out
Net income of Auhumada e. Co. for
1925 advanced to 81 ,493.732 from S7O3,-
, 1914 the year before. This is equal to
Sl.25 a share. against 80 cents a share
in 1924.
Stockholders of Penn Ohio Securities
Corporation have approved plans to
split the Comon stock. issue Subscrip-
tion rights and make an offer for
the preferred stock of Republic Rail
way and Light.
Northern Indiana Gas and Electric
Co. one of the operating subsidiaries
OF Midland Utilities Co. reports OPP
Grating revenue of SS.5Ol,75 for 1925.
against SIS. l05. $50 in 1924. Net income
Hafter all charges. including interest on
the funded debt was 81 ,607 .30e, com
pared with $l.893.17S the year before.
Surplus was s904.674.
Art Metal Construction co. almost
doubled it's net income i'm 1925. com
pared with the year before. reaching
1855. SIS equal to S2.07 share on
the capital stock. Net in 1929 was
1856 PIG. or $l.14 a share
A s. ZOO 900 loan for the city of
Leipzig. Germany. has been arranged
,by Spever 4 CO.. bankers. who will
fmake q public offering of 21-year :
per cent bonds next week. Although
a consolidated German municipal bond
issue was recently sold. Leipzig is fol
lowing the course of Berlin. Dresden
Frank fort on Main and Munich in
marketing its own securities. The city
ranks as the fifth largest in Germany
The proposed merger of the Me-
chanics and Metals National Bank
4 and the Chase National Bank. under
the name of the latter institution.
probably will he effected soon after
April |. the former bank announced
today. The stockholders and con-
troller of the currency must approve
the plan before ii is consumma ted.
1t also was announced that a secur-
tiles corporation, with net assets of
10000. 900, owned by the same share
holders. would join the combination.