Evening Star Newspaper, June 17, 1924, Page 25

RAIL TRAFFIC BOOM IN COTTON BELT St. Louis Southwestern Likely to! Surpass Exocellent Record of Last Year. OTHER EARNINGS REPORTS French Railroads Show Marked | Financial Improvement. By the Associated Press. NEW YORK, June 17.—On the strength of the encouraging outlook in the cotton belt rallroad statis- ticlans are predicting almost as good earnings this year for the St Louis Southwestérn as the excellent per- formance of 1923 when about $14.71 a share was earned on the stock. Net operating Income 80 far this year has exceeded the 1923 figures. Before taking up the question of common stock disbursements, the management desires, 1t is said, to put the property into stronger physical condition. Freach Rallroads Prowper. Passenger and freight receipts of the large French railroads for the period January 1 to Apnil 21 show a total of 2,375.782,000 frai an fin- crease of 292.074.000 francs over the same perfod in 1923, according to_the t of New ed for by al increas tariffs which came into operation on March 10. Today's Earnings Reports, Producers and Refiners’ Corporation Teports net income of $2,819.256 for 1923 after depreciation and interest. but before d fon, compared with $3.264.684 in 1 Gross revenue of Appalachian Power Company for the vear ended May 31 was §3,613.722, a galn of $367.459 over the preceding twelve months. Bal- ance after preferred dividends was $224,229, inst $220,167 ¥rank Balley, vice chairman of-the Title Guarantee and Trust Company, has been elected a member of the finance committae of Famous Players- Lasky Corporation. NEW RAIL STOCK PLAN. Shares Secured by Seventeen Lead- ing Systems. NEW YORK, June 17.—Formation of a nation-wide syndicate to offer bank- ers' shares of a rallway investment trust, based upon the stocks of seven- teen leading systems, has been an- nounced. Simultaneous offering of the issue, under the name of United Ameri- can Railways, Inc. will be made in New York and London at a price of $11 a share, to vield about 7 per cent. The investment will be secured by the capital stock of the following rail- roads; Atchison, Topeka and Santa Fe, Atlantic_Coast Line, Canadian Pacific, Central Rallroad of New Jersey, Chesa- peake and Ohlo, Lackawanna, Delaware and Hudson, Iliinois Central, Lehigh Valley, Louisville and Nashville, N | Alleghenies. York Central, Northern Pacific and Wes Pennsylvania. Reading, Southern ic and Union Pact BUSINESS EXCELLENT IN ELECTRICAL TRADE By the Associated Press. NEW YORK, June 17.—Recent ac- tivity in trading in electrical shares has drawn attention to trade condi- tions in the industry, notably the growth in the electrification of rail- roads. An order placed by the Vir- ginian railway to electrity half its lines is being followed by plans of the Pennsylvania to make electricity the motive power tor its lines in the Business prospects for the leading companies, especlally General Electric and Westinghouse, were aid to be excellent. ROAD’S EARNINGS DROP. Western Maryland Feels Slump in Coal Shipments. Special Digpateh to The Star. BALTIMORE. June 17.—Estimated earnings of the Western Maryland railway for the week ended June 7 show a decrease of 26 per cent from the corresponding week of 1923, Lor .42, as compared with in the same period last year. and coke freight, with a decrease of 35 per cent, continues to account for the major part of the dacline. Earn- ings for the current fiscal vyear of June 7 were $8,511,383.81, a decrease of 16 per cent. Freight other than coal and coke, with a decline of only 1 per cent, makes the best showing. NEW BONDS ON SALE. - [ Today's Largest Offering Made by Kentucky Electric Company. NEW YORK, June 17.—New bond offerings today were led by $4,000.000 Kentucky Hydro-Electric Company first mortgage 6 per cent gold bonds, series A. at 94 and interest. Other jarge is#ues were $3,000,000 City of Dallas, Tex., goid 4's per cent water works bonds at prices to vield from 4 to 4.45 per cent, according to ma- turity, and $1.250.000 Northern Ohio Traction and Light Company general and refunding mortgage 6 per cent gold bonds &t 99 and interest. TROLLEY COSTS CUT. Every Two-Man Car to Be Changed Over in Springfield, Mass. Special Dispatch to The Star. SPRINGFIELD, Mass, June 17— Every two-man trolley on the Spring- field street railway Is to be converted into & one-man car as a result of a re- trenchment policy following a wage increase enforced by the board of arbitration. This will cost 150 men to lose their jobs. RAILROAD ROW ENDS. NEW YORK, June 17.—The reor- ganization plan of the Denver and Rio Grande Western Rallroad Com- pany, which has been in the hands of bankers for the last eight vears, will be declared operative within the next few days. SR KELLY PASSES DIVIDEND. NEW YORK, June 17.—Directors of the Kelly-Springfield Tire Company today omitted the quarterly dividend of 112 per cent on the 6 per cent pre- ferred stock due at this time. —By GLUYAS WILLIAMS. WHILE THE g FATE OF A GOOD RAT TREMBLES IN THE BALANCE SLYAS YILLIANS FERTILIZER GAINS SEEN. Manufacturers Expect Much Better - Demand in Fall Special Dispatch to The Staz. BALTIMORE, June 17.—Local man- ufacturers just returning from the national fertilizing convention held in Asheville, N. C., last week report that a general feeling of optimism prevailed among the 400 delegates who attended the session. The opinion among lesders in the industry is that conditions are stesd- ily improving for the farmer, and that a greater demand for fertilizer will be apparent in the fall. In the mean- time the Natlioaal Associstion plans STUDEBAKER Just Drive It; Thet's All CThe Sewice Station Man buys “Standar 66 ' Ask the service station owner why he carries “Standard” Gas- oline. Eight to one he figures it the best simply because “Standard” has been longestin the game. Sound common sense in that, Our fifty successful years in business might account for the big “Standard™ organization, and equipment. But there’s favor that long’ can mean just one thing—a foundation of ab- solutely reliable products. The are hard, but they do make leaders stand out. : STANDARD OIL COMPANY [New Jersey} ANDARD" - GASOLINE The wonderful new fuel —*Standard”™ Ethg! Gasoline—now avail- able at many “Standard™ pumps, completely eliminates “gas kmock™. More power on the hills! Less gear shiiting! Less vibration! Adk the man at the pump about it ® Sy emdaard™ is the trade mark of the Standard Oil Co. (N.].), to continue its work of educating| farmers to the full benefits to be de- rived from the use of fertilizers. At the same time a feeling pre- valled that the fertilizer industry should work its way into a stronger position by selling for cash or on short credit, rather than acting in the capacity o « © McClure Newspaper Syndicate PRUNE CROP ASSURED. PORTLAND, Ore, Jdne 17 (Spe- cial).—All doubt as to the prune crop of Oregon and Washington now has been relfeved. The June drop is practically over and trees are show- ing normal outputs. 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