Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-21
Wall Street Briefs

NEW YORK, June 81 CP).-Packard
Motor Car Co. is looking forward to
recordbraaking Summer and Fall
business and prospects for the COM
pany were never better, says Alvan
Macauley. president. It's financial con.
ditto. was excellent, he asserted, cash
now totaling about SIG. 900, 900. Cur.
pare with current liabilities of $780,.
600. bout S8,000,00 has been spent
thus far this year for new machinery
and equipment to increase capacity
Production is so per cent ahead of this
time last year.
Stockholders of Lambert Co. arc
being offered $4,000 shares of new
capital stock at $3.50 a share, in the
ratio of eight shares of new for each
As share. now held. Proceeds will be
used to buy 500 additional shares
of Lambert Pharmacal Co. stock.
which would bring the t tai of that
company's stock owned to 81 per cent
Rights accrue to stock Of record June
81.
Net profit Of Archer-Daniels-M Midland
for the nine months ended May 81 was
$1,0S7, 066, equal after preferred divi
dends to $4.31 a share on the com
mon, against S1,157 ,999, or S4.61 d
share. in the previous corresponding
period.
Through installation of cigar-makins
machines General Cigar Co. has re
duced the number of it's plants from
~ in 1923 to % at the present time
A cigar machine operated by four un
skilled attendants has a capacity u
$3.50 cigars daily, which is equal t,
the output previously of IL skilled
cigar makers, says an analysis b,
Adelph Lewinsohn & Sons.
Lower cost of production Of Chilean
nitrate, coupled with the unlimited ex
port which will be permitted aftel
July !, should result in increased nj
trate sales in the last half of the year
says the New York Trust Co. Thu
United States is the most importan
market for the Chilean nitrate indus
try and the lower price is expecte'
to stimulate American consumption.
REQ Motor Car Co. entered jun
with 800 untitled orders and $50
cars and trucks are scheduled TO
shipment this month. about the SAM
as in May. In the first nine month";
of the company's current fiscal yea
22,581 units were turned out, two
thirds of which were shipped il
March, April and May.
Commonwealth Power Corporation
earned $424 a share on the common
stock in the year ended May 81
against $2.83 share in the previou
IL months. Gross revenues were $51
103,341 and earnings applicable t
dividends and retirement reserve
were $l1,3S3.9S0. Gross earnings 70
May were the largest for any simila
month, $4,283.420.
Poland's Industrial activity is re
fected in an increase of 81 per cent il
freight traffic during March, tn
Bankers Trust Co. of New York re
ports, compared with March last year
Growing demand for transportation
facilities has brought contracts by tn
Polish state railways for $3.50 loco
motives, 1900 coaches and 70.40
freight cars, delivery to be completes
in four years.
Ahumada Lead Co. omitted tn
quarterly dividend of 712 cents
share due at this time, because of tn
low price of lead, directors stated, an
necessity for additions to power plan
and pumping equipment. Erupcio
Mining Co, subsidiary. declared tn
regular quarterly of ~ cents, pay
able July 5.
Chicago Railway Equipment declal
ed divideE1 Of az per cent. on tn
common and the regular quarterly c
TX per cent. on the preferred. pay
able July l to stock record of Jun
20. The company has been paying
per cent, or IS cents quarterly on til
common.
Federal Water Service has bee
called for redemption at 10 and il
terest on September l all its origin;
S5,000,000 6 per cent convertible go
debentures series A. The bonds, date
September /, 1926, are not due unit
September !, 1896.