Evening star., 1926-04-29
WALL STREET BRIEFS

NEW YORK. April % R.--Opera-
tions at various steel mills are being
maintained at q good rate, although
the average is slightly below the peak
attained early this month. Subsidi-
aries of the United States Steel Cor
poration are operating around 81 per
cent Of capacity, but actual prodUc-
tion is near 81 per cent. The average
production for April was about 96 per
cent of capacity. compared with about
~ per cent = ys:lr ago.
The Building Units Patent Corpora
'tion, of which George l.. BendbOw is
president. has decided To acquire eX
elusive rights IL Inc concrete block
machine developed by the Concrete
-Specialties TO. OF camden, y. j. The
manufacturers included in the CON
solicitation, the National Concrete
Products Corporation, it was stated.
would save 100000 annually from the
cost of production of cinder blocks
with equipment now in general use.
Use of the first oil-electric loco
motive III mining operations will be
inaugurated by the Utah Copper Co.
at its mines in Bingham. Utah, it was
announced Yesterday by the Ingersoll-
Rand Co., joint producer OF this engine
with the American Locomotive and
Tenerai Electric Companies. which has
received an order FOR one Of the Cotton
type. Engineers of the producing
company estimated that the oil-electric
VIII save four cents on every ton
of material it hauls from the mines.
-Four railroad systems in the East
now use oll-eectric locomotives
Union Carbide and Carbon earned
@2,11 share in the first quarter of
1926, against $3.50 a share in the same
quarter last year. Net profits rose
to S5,7S1 .995 from S4,262.251.
Floyd q. Simons, secretary of the
International Paper Co., and Edwa rd
E. Evans have been elected directors
of the company. Other directors were
reelected.
Net profit of Replog!e Steel for the
nrst quarter was $100,4S1. equal to 20
cents a share. against S197.0l1. or 80
cents a share, in the preceding quar-
ter, and Sl8,224. or cents a share. in
the first quarter of 1925. Warren
Foundry and Pipe Co., a subsidiary.
has received an order for $500 tons
of pipe from Wilmington, Mass.
Lion Oil Refining Co reports net
profits Of $424,120 for the first quarter
before depletion and depreciation.
equal to $2.12 a share. Net profits in
the first quarter last year was $393..
292.
March net operating income of the
Western Pacific declined to $2O3511
from $226,174 in March last year, but
for the first quarter advanced to $685.
SS3 from $547,815 a year. ago.
Long Bell Lumber Co. had net in
come of 81 1.159 259 for the first quarter
of 1925, equal to S1.02 a share on the
combined "A" and ''B" stocks, against
$1,469,770, or $1.29. in the same quar-
ter Of 1925.
Members of the New York Cotton
Exchange circulated a petition today
requesting a date to ballot on a pro-
posal to close the exchange on the
Saturday preceding Memorial Day.
Wickwire Spencer Steel reports net
profit of $53.706 for the first quarter
this year. after bond interest and de-
probation. equal to five cents a share,
against S174,SS2, or IS cents a share.
in the same quarter of 1925. Profit
before bond interest and depreciation
was $532,SSS.
Wholesale trade in the New York
Federal Reserve district in March
measured. by a weighted average of
reports from nearly 200 concerns, de-
creased about 8 per cent compared
with the same month last year. but
retail sales were slightly larger, the
Federal Reserve agent here reported
Yesterday. Sales of department stores
were Z per cent larger. An increase
Of 16 per cent in the number of chain
stores WAS acconlpanied by a gain OF
l1.6 per cent In total sales.