Evening star., 1926-05-02
WALL STREET BRIEFS


tional transportation Lines Corpora
ton is being organized by a group
headed by Freeman & Co., to enter
the field of motor bus equipment trust
financinCson a broad scale. Applicar
ton for charter under the laws Of
Delaware will be made next week.
The corporation will finance the sale,
and in some instances the operation
Of motor omnibuses, coaches and
other types OF automotive equipment.
The new organization is expected to
stimulate. purchases of new motor
bus equipment.
Conferences on the reorganization
plan for the Chicago and Alton Rail
road Company have been further de-
layed, owing to other urgent business
which occupies the time of those
principally engaged in working out
the plan. 1t is not likely they will
be able to get together until after
the middle of the month. F. III. Ecker.
chairman Of the protective committee
for the roads 31as. probably will be
called to testify at the St Paul Rail.
way hearing in the next week.
Sales OF Montgomery Ward & Co.
in April. amounting to 15,842,712,
were 9.05 per cent over April last
year, and brought the total for the
first four months this year to sea-
220.299, an increase of 14.S1 per cent
over the same period of 1926. The
gain in April sales was the fifty-fifth
consecutive monthly increase and a
high record for that month. The four
months total also was the largest for
any similar period.
Bank clearingS throughout the
country for the week are calculated
at $1O,109 ,680,049 by the Commercial
and Financial Chronicle, a decrease Of
ga per cent under the SIC, 9,274 ,532
a year ago. New York City showed
a decline of per cent.
April sales of Sears, Roebuck & Co..
amounting to $22,997 1893. a gain Of 5.S
per cent over April last year. made the
total for the tour months this year
$89, ,007,7 ,701, an increase of 81 per cent
over the same period Of 1925.
Earnings Of Loews, Inc, this year
should run around $S,000,000, or about
$3.50 a share, Marcus Ioew, head of
the company, said today on his de-
parture for Europe. The company now
has about $20 1000. 900 in cash, including
proceeds from the sale of its ,deben-
lures. LAS the company prOsperS, we
intend to be more liberal with divi-
dends," he added, but increase always
will be in the form of extras, because
do not intend to increase the 50
rate.
International Nickel Company net
profits Of $1,336,573 for the first quar-
ter equaled, after preferred dividends,
73 cents a share. against 81 ,542, ,164,
or SO cents g. share, in the preceding
quarter and $1,190,093, or So cents a
share, q year ago.
Canada's output of motor cars in
1925 was 161,970 vehicles, valued at
S11O, O,835,3S0. The year before 1872 $50
ployed in 1925 was $74,67S,751, an in.
crease of 20 per cent over 1924.
State banking department has ap-
proved an increase in capital stock of
General Motors Acceptance Corpora
ton from $13,5O0,O00 to $1s .0O0,000
Earnings of the Shubert Theater
Corporation for the year ended June
80, 1925, should show about $50 a
share on it's 150, 900 shares Of common
stock, Lee Shubert said today on the
eve Of his departure for Europe. New
theaters might be acquired while he is
abroad, he asserted.
officials of Fiske Rubber Co.
denied reports it was negotiating for
the purchase of plant to produce
tire fabrics. Two thirds OF the COM
pany's requirements arc now sup
piled by the plants it owns in Paw
tucket, r. l., and Jewet City. Conn,
and a leased plant at New Bedford,
Mass, it was said.
Surplus and reserve of American
Light and Traction Co. for the year
ended March 81 amounted to $17,-
457,739, after deducting dividends on
preferred and common stocks, an in
crease Of $3,495,6 ,672 over the prev io,is
corresponding period. Operating reVe-
nues of subsidiary companies were
| $35,590,276. a gain Of $1,972,l22.
Stockholders of Lago Oil and
Transport have approved an amend
ment to its charter making the total
authorized capital stock 100000 no
par value shares. Previously author
lied common stock without par value
| continues as new common except
| that the stock no longer Is divided
| in classes and all new stock will
have equal voting power.
Railroad equipment orders for
first four months of 1926 are calcu-
lated by Railway Age at o'2 loco
motives. a6,31S freight cars and ,O6
| passenger cars, against 30i locomo-
tives. 26,206 freight and 391 passen-
ger cars in the corresponding period
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