Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-21

the stock yields 90 per cent on these
earnings. It pays dividends Of 90 cents
share and now yields "a per cent, al
though this amount has been augment
ed several times recently by stock divi-
bends.
II the truck business could continue
Its present rate OF expansion, Federal
In 1929 could easily earn better than
the Sits which has been It's average
for the past four years. II should be
noted that the price Of the stock nuctu-
Ates over relatively wide range, which
indicates that it has been unwise to
purchase Immediately after It has
taken sharp rise.
white.
white Motors, one of the oldest and
largest manufacturers Of high-grade
trucks, has made considerable progress
in both heavy and light truck fields
since new management assumed con-
troll Of the company In 1927.
Because Of these changes, the COM
pAny showed loss for 1877, but 1898
profits will amount to about S2oo q
share. With all other truck companies,
earnings have been expanding still
further and this years figures may
more nearly approach the average for
the past seven years of &4.3S n share.
At present prices the yield on the divi-
stock Is selling at only IL times aver
on earnings. 1t is obviously forecasting
increased returns in the future.
Mack.
Mack Ii one OF the outstanding high
grade truck manufacturers which has
more than held It's own during the in
dustry's difficult period. In every one
OF the past six years 1t has been able
to earn its $6 dividend rate. Earnings
averaged about $764 for the period, SO
that present prices are II times earn
ings, which means yield OF about IA
per cent. On the basis Of it, SO divi-
dend the yield Is about SIS Der cent,
At the close Of 1927 Mack retired it's
preferred stock, which has increased
the earning power Of the common.
Mack's business has expanded rapidly
during the last few months and esti-
mates OF "a q share are being made
for the first quarter, compared with
returns OF about 81 during the same
period last year. Although business for
the last half OF 1879 Is less certain, It is
expected that the company can ct least
do as well "a in 1928, when it earned
$7.63 share.
Yellow Truck.
Yellow Truck d. Coach Manufactur-
Ing Co. was formed In 1925. General
Motors Immediately turned over all OF
Its truck, bus and taxicab business
formerly owned by General Motors
truck division to the new company.
There are three classes of stock-$lS.-
000. 900 cumulative Z per cent preferred,
$4,000, 900 class B stock and SIT ,0OO, 900
common. General Motors owns all of
the common and recently made an offer
which expired in May, 1928. Of sos q
the company's most active stock on the
stock Exchange. Last November Cen
eral Motors disposed Of large part OF
its holding Of class b in the open mar
ket. with the result shown on the chart.
In recent years process Of rehabili-
tAtion and the consolidation Of plants
at Pontiac has caused the company
such expense that q heavy loss has been
shown. Because Of this It is only pos
sible to speculate as to the possibilities
OF the class B stock. The chart shows
therefore must be considered highly
speculative.
Brockway.
6rockWay Motor Truck Is one OF the
smaller manufacturers OF light and
heavy trucks. It also owns Indiana
Truck Co. Over 40 per cent Of Brock
ways business is In the export field, and
from the earnings reported during the
period from 1925 to 1927 the company
has averaged $500 q share. No infor-
nation is available regarding 1928 earn
ings. The stock sells to yield about
80 per cent on the % dividend and 81
per cent earnings, or about II times
average earnings. The stock has moved
over fairly wide range.