Evening star., 1926-05-01
WALL STREET BRIEFS

NEW YOPk MAY ! P).-Reports
Lancaster, president of the Texas and
Pacific Railway. would be succeeded
by l.. w. Baldwin, now president of
the Missouri Pacific and subsidiary
lines. Yesterday drew from William
H. Williams, chairman of the road
the statement that rumorS of contem-
plated changes in the official staff of
the Texas and Pacific were absolute
" without foundation. The erroneous
reports led 10 the assumption that a
merger of the Texas and Pacific with
The Missouri Pacific was under way.
with possibility OF an exchange of
securities and q cash return to com
mon stockholders of Texas and Pa
cific.
V. NiVaudau. Inc. recovered in 1925
from the net loss of S442 .262 for 1924
reporting net profits of $4i6, ,966 after
depreciation and taxes. which is
equivalent TO Sl.31 share on the $40
par value stock. Profit for the first
quarter of 1926 was $469, ,S76 after
depreciation, but before taxes
1rreeularity in prices of steel sheets
for several weeks in the Youngstown
district is reported TO be giving way
to f1rmer basis. Black No. %
gauge is commonly quoted at 325
cents pound, while blue annealed
is commanding 2.40 cents and gal
vanized $50 cents.
Henry Ford's railroad. the Detroit.
Toledo and Ironton. had larger gross
revenues in the first quarter than a
year ago. S3.35S.659 against S3.195.-
SAC, but net operating income declined
to s716,7o5 from SS34,95S.
Business Of the American Express
Co. is very satisfactory, with indica-
tions of tremendous travel in Eu-
rope this year. f. p. Small presi-
dent of the company, aid on his re-
turn from abroad yesterday Facil-
tiles have been increased TO meet the
situation. He expected earnings this
year would exceed the $l2SS a share
last year.
The excellent recovery in earnings
OF the Glen Alden Coal Co. since
mining was resumed is centering at
tentior in the financial district on
the meeting of directors May II for
consideration of the sem-annual diVi-
dend. Well informed quarters ex-
pect either an increase in the rate
or a cash payment. The compa ny
produced the largest tonnage for any
month in March, with probably record
earnings.
American La France Fire Engine
Co. had net income of S203,291 in the
first quarter. equal after preferred
dividends to - cents share on 44a,-
300 common shares. against $15S.-
327. or 26 cents a share on 345, 900
common shares in the first quarter of
1925.
The price of zinc touched a new
low level for the year Yesterday.
prime Western selling at so to 6.75
cents a pound. East ST. Louis. Some
Of the smaller Western producers are
quoting go.
Bell Telephone Co. of Pennsylvania
earned $255 q share on the $4,000,
600 common stock in the first quarter
after preferred dividends, against
$219 share a year ago. Net in
come rose to $2370,326 from 81
o74,927.
National Fuel Gas had a more
prosperous year in 1925 than in 1924.
consolidated net profit advancing to
s5343213. equal to s14.44 a share.
from S510S,502. or $3.50 q share.
The United States Rubber Co. is
not contemplating a reduction in tire
prices, Charles B. Seger president,
stated yesterday in connection with
reports that tire manufacturers Were
planning a reduction. Mr.. Seger as.
serted there was no justification for
doing so at the present time.
F. Edison White, president of Ar
mour & Co, said yesterday:
while no portion of the year is
conclusive as regards the results of
the entire year. Armour e. Co. s
earnings. and more particularly that
portion in South America, have been
unsatisfactory for the first quarter.
The next meeting of directors is May
y, and no consideration of dividend
action on class A common stock can
be taken before that time
YALE AND TOWNE PROFITS.
NEW YORK, May / CP.-Net in
come of Yale & Towne Manufactur.
ing Co. for the first quarter Of 1926
rose to $591.33 after all charges,
equal 10 $i.4S a share, against $432,.
7ss, or $1.0S a share, year ago.