Evening star., 1928-03-12
Wall Street Briefs

NATIONAL CASH REGISTER
National Cash Register Co. earned S469
q share on the combined "a" and B"
common stocks in 1927. compared with
S45l a share II 1926. Net income rose
10 s7.044642 from S6.762,639. The
years sales were s46.s6l.5l7. about
100000 more than the previous year.
Net working capital on December 81
stood at S28s43,3 1862, an increase OF
more than sl.700, 900. F. B. Patterson.
president. reported the company was de-
veloping machines for new markets and
fields which has carried the product be-
yond the range Of machines 10 be used
!n retail stores and accounting ma
chimes now are adaptable 10 banks, in
stallment houses and Offices.
DEBENHAMs SECURITIES. LTD
American shares. of Defendants Securi-
ties, Limited. controlling the largest
chain Of department stores in Great
Britain. viii be marketed here tomor-
row by Goldman. Sachs &, Co. and
Brown Brothers & Co. An issue OF
$4,000 shares will be offered at $3.50
q share. Application will be made TO
have the shares listed on the New York
Stock Exchange. 1t is proposed 70 Is
sue / American share for IL ordinary
shares Of the company at 5 shillings
par value each, to be deposited with the
American Exchange Irving Trust. The
American shares will be entitled TO a
dividend equivalent TO about s2.l5 a
share. expected 10 be paid in April.
AMERICAN POWER g. LIGHT
Earnings applicable TO the common
stock OF American Power IL Light Co.
for 1927 were $S.72e,i9l. equal to s485
share on the average number OF COM
mon shares outstanding during the year.
against $685.. .5o7, or s4.77 share. the
year before.
GENERAL MOTORS Stock market
statlsticlans see various ways 70 look on
General Motors common as still being
cheap az its present level. They figure
that with standard industrials selling
at an average Of nearly II times earn
tnrs. General Motors could sell much
higher On the basis Of last years profit
Of si3 a share and even higher. With
current earnings reported 10 be run
ming about 25 per cent ahead OF 1927.
Al this rate 1928 earnings would be
about SIT share. Allowing for any
slscken!ng IN the rate of gain, IL Is
calculated a conservative estimate
would be about SIS share this year.
COPPER METAL COMPANIES. -
Heads Of various copper companies are
reported SS Comment over the futOTe
Of the metal Although the price has
not advanced, II mas been we'll main
tanned around IL cents pound. which
is said W mean q good profit for most
producers. Al executive Of one Of the
largest groups recently said ne looked
for prosperity for copper companies for
the next TWO years al least
STEEL OPERhTIOEG.--fste manu-
1actuYers are said 70 believe production
fn.S year Will be close ~ normal, but
GO not anticipate a boom, expecting
output N average 30 per cent II ca
paclty, which @o1!c be very large
average TIRE industry Is booming"
when operations are between 30 and
100 per cent. Orders on broGs Of pari-
ols steel companies indicate fair oper-
atoms for the !.fst half 81 the year.
rkI7'ED STEEL WORKS CORPOR-
kTIOk. .-- ID spite reduction of 1000
81 the number of workers United Steel
WORKS CorpgTat.on of Germany reports
sn increase IN iron and steel output,
with q tUynoYcr ~ So! 700 900 MARKS
.og me ffst quarter - It's fiscal year
eU1ec Dec mber 81 The turnover tGr
the year ended Eep1embsf 50 gss t.
at 900 900 maIks.
SOUTH TEZks GAS CO. The
Moody ~f1eaafAyes Interests haze at
ouired re 5oJ'n Teas Gas ca which
Wi. seYye. through is subsidiaries. the
city ~ LAREDO. Tex, and other towns
IN ire Ynanlty.