Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-09-02
WALL STREET, BRIEFS

NEW YORK, September P).-
August earnings of the Pere Mar
ouette were substantially better than
a year ago. Frank H. Alfred, presi-
dent, said gross revenues were at
least $4,000 larger, and surplus after
charges would reach 100000. which
compares with surplus Of $777,S2 In
August, 1925. Estimated surplus for
August would make the total for the
$10.25 a share on the common, after
preferred dividends, against $3,233.014
or $5.42 a share In the same period
last year, and $11.67 a share on the
common for the full year 1925.
August sales of Sears, Roebuck &
Co. were $19,6O4,621. a gain of 1871
total of $166,237,923 for the eight
months this year. against $152 1852, S3S
a year ago.
Sale Of Montgomery, Ward & Co.
for August gained 73 per cent over
August. 1925, reaching 1867 1872 and
making the eight months total $119,-
S67,695, against sos. 070.429 in the
same period last year August sales
established the f1fty-fifth consecutive
monthly gain.
The general business situation con-
unues to be very satisfactory" says
the National City Bank Of New York
in its monthly review of economic
conditions, with every prospect Of a
record volume Of trade during the
Fall. Crop conditions promise final
yields which. though not record
breaking. should yet afford basis for
very satisfactory business in the agri-
cultural sections. Factory employ.
ment generally remains at high tide
for the season and pay rolls which
constitute the basis of buying power
are running above a year ago. Re-
tail distribution continues in large
volume. Consumption of electric
power and recOrd-breaking freight
movement on the railroads reflect the
high level Of manufacturing and
wholesale distribution"
Wall Street hears talk Of stock divi-
dend possibilities when directors of
Reynolds Tobacco Co meet tomorrow
In WinSton-S Salem, n. G. At the last
meeting the common stock dividend
was raised from 81 to $1.25 quarterly.
Yellow Truck and Coach has an
order for $50 trucks from the city of
New York valued at $1,000, 900.
Buick Motor Car Co. had a new
record production mark in August of
1880 cars, exceeding by 1000 the
previous high output last March. The
company's output for the eight
months Of 1926 jumped to 1880
vehicles, an increase of 7O,400 over
the same period of 1925.
Total production of pig iron in the
United States in the first half of
1926 is calculated at 19.679,737 gross
tons by the American Iron and Steel
Institute. compared with 1SS5l.627
in the first half of 1925. Pennsylvania
led the States with 6.S6l.0S9 tons. and
Ohio next with 4.61S.23S. The half
yearly output of all kinds Of ferro
alloys was 336345 tons, against 294,-
123 in the same period last year.
Directors of r. II. Macy & Co. yes
terday decided to retire all of the
corporations outstanding preferred
stock. amounting to $4,000 shares.
with par value of $S.S00.000. on De-
cember IS. at sl15 a share and ac-
crued dividends. The tranSa ction will
he financed with funds from the
company's own treasury and the pro-
ceeds of an issue of s7.500,00 10
wear serial gold debenture bonds.
which will be marketed through
Lehman Bros.
Soft coal production in the United
States is so hundredweight per man
shift, whereas in Great Britain the
production is only 17i2 hundred
weight sufficient to explain the fact.
says the New York Trust Co. that
the United States miner averages $40
a week when continuously employed,
as against $13 a week earned by the
British miner Notwithstanding
easier natural conditions in many
parts OF the United States. very
large part of the difference is &C
counted for by our more advanced
methods in the use Of machinery and
electric power the bank states. -