Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-06-23
Wall Street Briefs

PACKARD MOTOR.-Packard Motol
Car Co. earned $500 share IN TIT
nine months ended May 81, against s:
a share in the previous corresponding
period. Income rose to SlT.603, 304
frorn $9,O23, 325. Net profit for thu
quarter ended May 81 jumped to 81.
662, 1859, or $255 a share, from $4,607,'
267 the preceding quarter, or $l.53 Z
share.
REPUBLIC IRON g. STEELE. T
MeCleary, president of Republic Iror
& Steel. sees improvement In the iror
and steel business late this year when
politics becomes less active before the
public. Directors Of the company
shared that view. he said. The COM
pany is operating at 10 per cent OF
capacity and is expected TO continue
around that rate the rest of the Sum
mer
SOUTHERN PACIFIC.-Net earn.
inEs of the Southern Pacific for MAJ
indicate the largest for that month ir
II years, preliminary estimates putting
gross at about $500 1000 and net op.
Grating income at $4,000. 900. A yeal
ago, gross was S24 1884. AIS and net op.
Grating income $s,822,446-
NORTHERN PACIFIC Charles Don.
nelly, president Of the Northern Pacific
said the roads gross revenues for MAJ
would be about $500. 900 above the ST.
le4zgl for May last year, but owing
to large maintenance expenditures and
unusual adjustments, net operating In.
come would be about $500 under
the sS52,lSO a year ago. Wage adjust
naents increasing pay Of f1remen anc
hostIers under the recent award which
was retroactive 10 August /, 1927, In
creased expenses for May about $780,
oo0.
LOS ANGELES GAS a. ELECTRIC
Gross earnings Of Los Angeles Ga.
& Electric for the year ended May 81
we're $2I .32l ,829. against 20,237, i34
the year before. Net after all charge:
was 1929, 972. After preferred diyi.
bends, a balance Of $3.078. zo2 wa
available for common stock, all Of which
is owned by Pacific Lighting Corpora.
ton. Net showed q decrease OF $194,.
T5s for the year, owing TO liberia
depreciation vTite-od Of S2,55e,313.
CANADA BUILDIEG.-A gain O.
365 per cent was made In building
dian cities in May compared with las
year, s.. w. Etraus 81 Co. reports
Canadian building since the first o.
the year has been 26y4 per cent greatel
than last year, the previous higf
record period.
PIERCE ARROW -STUDEBAKER.-
Buffalo dispatches 10 Wall Street sa!
the final outcome Of negotiations for /;
merger Of Pierce Arrow and Studebakel
viii be determined at meeting o
Etudebaker directors next week wher
definite plans will be presented for ap
froTai. Etudebaker officials inspected
the Pierce Arrow plant at Buffalo ant
On data obtained. are preparing yart
Gus plans. Bankers interested In boti
companies have taken an informal par
IN preliminary discussions.
CONSOLIDATION cOAL.--Waiter
Teagle, president Of the Standard o!
Co. OF New jersey. has been elected ;
vTTAoLAss coRPoRATIoN.--Al
additional stock issue Of $500 600 ha
been authorized by the Vitaglas
CORPORATION, the proceeds 10 be use
ia intensifying the promotion OF Vita
glass. Stockholders may subscribe I
the issue on the basis Of two share
Of no par common With each share c
2 per cent cumulative preferred.
new board Of directors includes Win
ti1rop III. Crane, president Crane ~ CO
Dalton. Mass: Charles Edison, pres
dent Thomas A. Edison. Inc, Orang
~ J.. and A, r. Graugtein, preSideI
international Paper Co.