Evening star., 1926-04-11
WALL STREET BRIEFS

NEW YORK. April 10 R.-The
shining business is looking better
than earlier in the year, sad p. I. ,.
Franklin. president of the lnterna-
t(onal Mercantile Marine Co, on ms
departure for Europe today, our
bookings ahead are getting heavier
and heavier. From indications. l
think we will have a better year than
we had last year.
Mr.. Franklin declined to comment
on reports OF the pending sale of the
companys ships to British interests
, other than to say, We are always in
the market to buy or sell ships when
an attractive offer is made for them
and we think we could dispose of them
10 our advantage.
A deficit of s4l5.652 for 1925 is re-
ported by the Toledo, Peoria & West
ern Railway. against deficit of
$359,311 in 1924.
Earnings of Barnsdall Corporation
for the first quarter of 1926. with
March partly estimated, were $1,500,-
600, after depletion, depreciation and
Federal taxes, equivalent 10 $l.30
share on the combined "A and ''B"
common stocks. Cash on hand was
S5300,0 900, with working capital of
$9.312 900. The ratio of quick assets
TO quick liabilities was better than six
TO one. The company's cash alone was
more than sufficient to cover all liabili-
lies, except the 15-year per cent de-
bentures and the capital stock.
Prices of steel scrap have declined
so cents ton in the Pittsburgh dis
trict. heavy melting steel being
quoted at $3.50 to Sl7 a ton. In the
last few days no sales actually have
been made, but dealers said it would
he virtually impossible to sell at SIT.
one mill is reported to have declined
TO offer more than SIG d ton.
Virginia Electric & Power earned
$3.46 share on the common stock
in 1925, after preferred dividends,
against 1928 a share the year before.
Net income was S1,S63,604, compared
with $l,646,9l5 in 1924.
Reports in the financial district
that acquisition of the properties of
the General Petroleum Co. by the
Standard Oil Co. of New York had
been approved by Government author
..scs were denied by officials of the
Standard Oil Co.
Production of all grades of paper
by the International Paper Co. in
1925 was $4,000 tons. against ABA, 900
tons in 1924. Approximately so per
cent of the 1925 production was news
print, or 100000 tons. Production of
high-grade paper was increased H.
600 tons during the year, due princi-
pally to acquisition of the Ticonde-
roga Mill. Bleached sulphate pulp and
viscose produced and sold in 1925
totaled 50 900 tons. The company
expects to produce this year about
$500 tons of all grades of paper daily.
with annual output of about COO, 900
tons.
United States Senator Lenroot and
Attorney General Ottinger of New
: York are scheduled to address the
Association of Stock Exchange Firms
at the annual meeting next Friday.
Sales of Rand kardeX Bureau of
Tonawanda. y. Y. for the first quar-
ter this year increased 16 per cent
over the same period of 1925. The
report for the fiscal period ended
March 81 will show redemption in
full Of the $350.000 of Z per cent de-
bentures of Rand kardeX Company,
also redemption of $450,000 of 515
per cent notes issued January, 1926
Cash balance was $4,000, 900. The
company has no bank loans. The fig.
ures do not include Globe Wernicke
Company or the Safe Cabinet, Com
pany, which are operated as separate
manufacturing generations.
The Lehigh snd New England Rail