Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-06-24
WALL STREET BRIEFS

NEW YORK. June "a CP.-Ofti-
Cials of Pan-American Petroleum and
Transport Co. calculate that net earn.
ings for 1926. based on results thus
far this wear, will be equivalent to
between $12 and S13 a snare. On this
estimate net would reach between
$33 900 600 and $4,000, 00o, applicable
to the 2,756,321 shares of a. and "B
stocks outstanding. Surprising the
company's record of $3l 100000 in
1922.
Willys-Overland Co. will retire
S745.5l2 of its outstanding preferred
stock by July l. Bonded Indebtedness
has been reduced to $4,000 and the
company has no bank loans.
AT an advance of 81 900 over the
previous transaction, the seat Of VIII
liem y. Hoover on the New York Curb
Market was sold for $33 900 yesterday
to Clarence +. Whitaker.
Surplus of the Wabash Railway
for May declined to 1898. 10T, after
charges, compared with $022.439 in
May last year but for the five months
of 1926 the total showed a gain over
tFe same period Of 1925, standing at
81 995 80, against $1,173,SS1
The steadily growing demand for
electric ice boxes is reflected in profits
of Electric Refrigeration Corporation,
which are estimated at about $4,000
900 for the second quarter this year.
after all charges. based on sales to
date. This is equal to about $3.50 a
share. The first quarters net profit
was $S3S.950. and for the entire year
h925 amounted to $2,4SS, 455.
The Gatineau Power Co., subsidiary
pf international Paper Co, has a con
tract from the Hydro Electric Commits
ySion of Ontario to supply power to the
b,ity of Toronto, requiring delivery Of
100000 to 100000 horsepower Of cleo
krical energy The price is said to be
S15 per horsepower at the point of
delivery. giving the company an an
aual revenue from this source of be
aween $3.50 900 and S3,900,000.
Public Service Corporation of New
Jersey continues to report increased
hnonthly earnings, surplus for May,
eGter charges. amounting to $S03,796
against $50l, 954 for May last year
surplus for the II months ended May
81 was S12,424.2 60. against $S,003,679
fhe preceding year.
Reviewing world zinc conditions as
correspondent of the American Zinc
Institute, says the British metal in
siustry is badly crippled and conSump
zion, bad enough in May, is likely to
NE even worse in June unless the coal
sninerS return TO work before the end
pf the month. The United Kingdom
hid not consume more than 5000 tons
of zinc last month. British production
of slab zinc in May is estimated al
l,470 tons, but will be purely negligi
BILE in June, as shelters working at all
merely are keeping their furnaces
warm.
United Biscuit Co, fourth largest
biscuit manufacturer in the United
States, is understood to he planning
pcquisition of prominent independent
concern. It's subsidiaries, the Sawyer
Biscuit Co. OF Chicago and the Unior
Biscuit Co. OF St. Louis, have about
$4,000 active accounts, the bulk of the
output being sold in the 10 Contra
Western States.
William G. Shelly. president of the
Ekelly Oil Co, yesterday save out the
following statement regarding rumors
of merger possibilities involving the
Skelly company: 1T is true. we have
negotiations pending of a constructive
character, but | am not at liberty tt
describe the nature of the same a.
this time. If these negotiations are
successfully terminated. they will be
very beneficial to stockholders and al
concerned