Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-19
Wall Street Briefs

NEW YORK, July 10 CP).-Reports
to the rubber association indicate
that total tire shipments for the in
dustry in May amounted to 5,721,7 TAO
castings against 5,273,361 in May last
year, and production 6,23S,0 against
5,0S2,464. Inventories were 1885,
082 against 12.623,904 a year ago.
Shipments for five months this year
by manufacturers representing Is per
cent Of the industry were 20,091 400
castings. an increase Of % per
over the same period Of 1926.
Production of 21,S60,127 was a gain Of
13 per cent.
Stockholders Of United States
Cigar Stores Co. Of America have ap-
proved a split.up Of common stock.
$25 par, on the basis of 21a shares
for one share Of $40 par stock.
Stockholders of Liggett & Meyers
Tobacco Co. approved an issue of
S34,139,S00 additional class 3 common
stock.
An additional issue of 5000 shares
of Southern Cities Utilities Co. IS
dividend prior preferred stock has
been bought for later offering by Gid
den, Morris G. Co. and Jaeger, Young
G. Pierson.
Surplus Of Gabrial Snubber Manu-
featuring Co. increased to $1,470,37
on June 80. from 1881 800 on Deem
Der 81, 1926.
Club Aluminium Utensil Co. re.
ports record earnings for the fiscal
year ended June 80. Sales rose to
S5,512,720 from S2.s93,2S0 the year
before. Net profit was sS00,357
against s393,44S.
s. NJ. Barnet. president of the Bar.
net Leather Co. expressed optimism
over the outlook for the leather in
dustry, which he said had turned the
corner. There was every indication
that earnings of all leather com
panies the second half Of the yeal
would be better than in several years
he asser ted.
A list of the 20 largest stockholders
of the Chicago, Milwaukee and st
Paul on May p, 1927, shows Edward
S. Hardness of New York to be the
only individual among them. He
held 22.600 shares OF preferred and
6,l50 shares of common. unchanged
from his holdings at the close OF
1926. The Oregon Short Line Rail
road, subsidiary of the Union Pacific
and Is brokerage houses We're othel
large holders.
Earnings of Commonwealth Power
Corporation for the year ended Jun'
so applicable to dividends and retire
'1nent reserve were $l1 ,495, 1886. Thi
Is equal after retirement reserve L
s21.97 a share on the preferred AM
oh
S16.S7 on the preferred and S2.94 OF
the common in the previous L
months. Gross earnings were Sol,
455,34s, against S46,7S6,6SS the yea
before.
A gas we'll flowing 62,500.0o0 cubi
feet daily has been completed IN IN
North Greenwood District. Louisiana
by the Greenwood Production co.
northeast of the Waskom Field. l
was drilled to a depth of only S9'
feet and is said to be the largest wei
In north louisiana or Arkansas In tn
Nocatoch sand. The well will be con
nected with the Dixie Pipe Line, nov
being built.
The Chicago steel trade expects TIL
forthcoming half-yearly report Of In
land Steel Co. to show good gail
over the net profit of S3,333,233 for tn
first half of 1926, which was equal t
c252 a share on the common. afte
preferred dividends. First quarter ne
profit was $2,l30,926, or $1.65 share
Full dividend requirements on tn
preferred for 1927 were earned in tn
first five months of the year.
The shortage in Shellac in Indl
grows more acute from week to weel
says the oil, paint and drug reporter
Shipments OF shellac from the fa'
tories to Calcutta for the half yea
were $4,000 packages less than in tn
first half Of 1926 Exports from Ca
cutta to the world in the same perio
also were 2s.740. packages less. ..-.-