New Britain Herald Newspaper, January 31, 1917, Page 9

Tin % NEW BRITAIN DAILY HERALD, WEDNESDAY, JANUARY 31, 1917. STEEL EARNINGS IN | QUARTER ARE BIG | Net Recepis $105,968,347, 2| Gain of $20,000,000 New York, Jan. 31.—Directors of the United States Steel Corporation met yesterday afternoon and framed the most agreeable surprise Wall street has had since the beginning of the war. They reported net earnings for the last quarter of 1916 of $105,- 968,347 which is by more than $20,- 000,000 the largest ever reported by the corporation in a similar period, and declared an extra dividend of 1 3-1 per cent. on the common stock addition to the regular quarterly disbursement of 1 1-4 per cent. cember 31, 1916, based on the four quarterly reports which have bec issued during the twelve months, were the largest in history by a wide margin. They totalled: $333,625,085.86. an increase of more than $200,000,000 over the 1915 earnings, which were about $130,000,000. In 1914 the earnings for the whole year were only 071,000,000. The surplus for the year, based on the quarterly reports, amounts to $246,412,218, equal to about 48 per cent. on the common stock outstand- ing. The surplus after the dividends on the common stock is $201,945,749, an increase of $157,730,032 over 1915. The regular quarterly dividend of 1 3-4 per cent. on the preferred stock called for a payment of $6,304,920, the regular dividend on the common of $6,353,782 and the extra on the common stock $8,895,294, making a total dividend disbursement for the quarter of $21,563,996, compared with $17741,726 in the previous quar- ter. f The highest record for manthly earnings during the past quarter was established in November with $36,- U Octobor Novembe December Total companies ation, applied as foliows: sidiary tion and ment funds To sinking fw on Corporation bonds ... Net income ... est for quarter on U. S. Steel rporation bonds outstanding mium payable on bonds redeem- able under sinking funds ....... Balance . Add net balance of sund n counts /Dividends on stoc Steel Corporation, for the yuarter: Preferved, Common, viz.: 1% % ter . Detailed Earnings Net earnings s Sinking fund, etc. Ba . United State; Balance Additional credits Totals < Preferred dividend Surplus Common dividend Surplus .S. STEEL CO. EL ., including interest on bonds and allowances for de- inking funds on bonds of sub- companies and deprecia- cxtraordinary replace- charges ceipts, including adjustments tories and various other ac- Regular Balance of surplus for the quar- ..$333,625,086 .-$201,945,749 Inc. $157,730,032 STATEMENTS Earnings Be- fore Interest on Subsidiary Co.’s Bonds $35,945,868 37,211,845 35,117,421 Palance of Earnings $25,177,392 26.443,543 24,347,411 $108,275,134 $105,968,347 $ 7,918,254 1,728,483 9,646,737 $ 96,321,610 5,639,648 . $ 90,681,962 $ 90,811,588 6.304,920 6,353,782 $ 12,658,702 8,895,294 21,553,996 $ 69,257,592 For 1916. Inc. $203,273,790 37,866,475 Inc. 11,847,696 $295,758,611 Inc. $191,4 GENUINE TREAT AT KNEISEL CONCERT Soutt Ghu;ch Muéical Event Gives Evening of Delight An audience of several - hundred thoroughly enjoyed a concert by the Kneisel String Quartet of New York last evening at the South Congrega- tional church under the auspices of the Men’s Brotherhood. The quartet was composed of Franz Kneisel, first violin; Hans Letz, second violin; Louis Svecenski, viola, and William Willeke, violincello. The program was almost purely classical with only one modern touch. The works of Beethoven, Tchaikowsky and Schubert comprised three-foitrths of the program, which was concluded with selections from compositions of Percy A, Grainger, the brilliant Aus- tralian. Never in the history of New Britain have worshippers at the altar of music been more completely en- tertained. The -execution of the quartet was: beyond comparison. Their interpretation of the serious and the gay stamped them as true artists and while the audience was cosm- politan as far as knowledge of music is concerned, the efforts of the musi- cians met with ready response. It was a delightful musical treat and al- though the program- was not exten- 26,204 B 24,266,342 \ Dec. 030,947 Inc. $196,507,151 -$271,502,269 = Dec. 664,431 129,626 .$271,631,895 . 25,219,677 Inc. $195,842,720 Unchanged - $246,412,218 TInc. $195,842,720 44,466,469 Inc. 38,112,688 Accustomed as it is to big figures, fhese earnings astounded Wall street. No one had figured that the earnings would be above $100,000,000. Iven at the close of the market, a few minutes before the earnings were an- wounced, betting was even that they would not exceed $95,000,000. The extra dividend was a little short of expectation. The street had been so sure that the directors would vote at least 2 or even 3 3-4 per cenl. that thousands of dollars had been placed at even money that such would be the rate. < Jump of $50,000,000. The earnings of $105,968,347 for the last quarter compared with $85,- $17,067 for the previous three months which were by nearly $5,000,000 the largest in the history of the corpora- tion. Just a year ago, for the last guarter of 1915, the corporation re- ported $51,277,504, which at that time set a new high record. It was at; that meeting that the regular 1 1-4 per cent. quarterly disbursement was resumed by the directors. Earnings for the year ended De- PIMPLY? WELL, DOK'T BE! People Notice It. Drive Them Off with Dr. Edwards’ Olive Tablets A pimply face will not embarrass you much longer if you get a package of Dr. Edwards' Olive Tablets. The skin should begin to clear after you have taken the tablets a few nights. Cleanse the blood, the bowels and the fiver with Dr. Edwards’ Olive Tablets, the successful substitute for calomel— therg’s never any sickness or pain after taking them. Dr. Edwards’ Olive Tablets do that which calomel does, and just as effec- tively, but their action is gentle and safe instead of severe and irritating. .. No ever cursed with “a dark brown taste,” 3 bad breath, a dull, listless, “no good” feeling, constipation, torpid liver, bad disposition or pimply face. Dr. *Edwards’ Olive Tablets are a purely vegetable compound mixed with olive oil; you will know them by their olive color. Dr. Edwards spent years among pa- one who takes Olive Tablets is| 443,548. The highest previous month- ly record was in September, with earnings of $30,420,158. In October and December of the last quarter the earnings were $35,177,393 and $34,- 847,411 respectively. Just two vears ago the regular divi- dend on the common stock was sus- pended altogether after having been cut from 1 1-4 per cent. to 1-2 of 1 per cent. at the quarterly meeting in October, 1914. From almost that time on the recovery in the steel bus- iness has been little short of magical. Dealings in Steel common on the Stock Exchange were within a com- paratively narrow range high being 113 1-4, low 111 5-8 and the close 113, a net gain 3-4 for the day. The trading totalled 140,000 shares, about one-quarter of the «day’s volume on the exchange. CAPTAIN OF DANISH SHIP DEFIES U-BOAT Tells Submarine Commander He and Men Will Stick aud Is Then Allowed to Proceed. Copenhagen, Jan. 31, via London, 6:60.—According to the Ekstrabladet the captain of the Danish steamer Iris, which arrived at Copenhagen on Tuesday, defled a German subma- rine which threatened to sink his ship, and compelled the submarine com- mander to permit him to pass. The Iris encountered the submarine while it was engaged in sinking another boat. The Danish craft was ordered to stop and was boarded by the subma- rine captain who inspected its pa- pers and ordered the crew to take to the small boats. The Danish captain refused, say- ing that the Iris was bound from one neutral country to another and had no contraband on board. He added: “You may sink us but I and my men will remain on board.” fients afflicted with liver and, bowel complaints, and Olive Tablets are the Jmiensely effective result. Take one or two nightly for a week. See how much better you feel and look, 10c and 25¢ per box. All druggists. After threats and arguments had failed to alter the determination of the captain of the Iris the subma- rine commander returned to his own ship and allowed the steamer to pro- - ceed. A year ago, when the Hudson Super-Six ap- peared, we pronounced it the permanent type. The Light Six had waned, because of limitations. the trend was toward Eights and Twelves, as solutions for the Six’s faults. . But Hudson engineers had just located those faults, and found a way to correct them. They had added 80 per cent to a motor’s efficiency, without add- ing cylinders or size. Tests had already shown that the Super-Six far excelled any other type. In the past year a hundred - great tests have confirmed it. Now the Super-Six holds all the records worth while. These were made to show the wonderful en- durance. our invention,, ‘;si\-e‘ its wide range of subjects, in- icluding a bit of this composer and a I bit of that, was thoroughly enjoyed. Perfect unison and sympathetic in- terpretation by the quartet sped the hands of the clock around and the audience could hardly believe that the last number was being played and that they were back in the workaday world. Tn fact they had been skilfully prepared for the transition by the more modern works of Grainger, whose compositians are fast becoming : better known to those of musical ten- dencies. The only solo offering of the evening was by Mr. Willeke, who played a set of three numbers on ths violincello. So enrapturing was his performance that the audience forced | him, by continuous applause, to return for an encore. An encore was also forced on the quartet for what was on the program as a closing number. Ta the credit of New Britain, it may be said that the concert was well sup- ported and great enthusiasm was dis- played. The auditorium of the church was well filled and the applause was generous. | e i ADVANCE MILK PRICES. | Bridgeport Concern Announces crease of One Cent. In- Bridgeport, Jan. 31.—Beginning to- morrow one of the largest milk dis- tributing concerns here will advance the price of milk and cream in this jcity. Grade B pasteurized milk will 80 up a cent to 11 cents a quart and the various weights of cream will be advanced one to two cents a half pint. The dealers are acting independent- 1y and only one concern has made this announcement so far. NEW SOLAR CYCLE French Astronomer Predicts Hard | Winters for 17 Years Paris, Jan. 31.—France is experi- encing the most severe winter since 1803. For the last week the ther- mometer has never been higher than 29 degrees fahrenheit, except in the | extreme south. The cold reached |even the most southerly point yester- {day and affected such favored spots jas Nice and Canneo, while at Cette | there was eleven degrees of frost. At Paris, at the same time, the mercury jfell to fourteen, at Belfort to eight, jat Lyons to five, while the port of Nantes was frozen up, notwithstand- ing the effarts of ice breakers. The Seine, Marne and Saone are full | of floating ice and the backwaters are completely frozen over. If the frost continues a few days more the whole surface of the rivers will be covered and all traffic stopped. Rev. Thomas Moreux, director af Bourges observatory, says that the ine i tense cold marks the beginning of a | serfes of severe winters which occurs | every 34 or 35 years, coming with the end of a solar cycle. After a period of great solar activity, according to Father Moreux, a damp rainy period occurs with low average temperatures Which last for sixteen or seventeen BLAMED FOR GOLD; Bayer-Tablets Aspirin To guard against coun- terfeits and substitutes of Aspirin, remember that every package and tab- let of the genuine bears “Your B “The Bayer (,8:Q) Guarantee Cross £ of Purity” The trade-mark “Aspirin” (Reg. U. 8. Pat. Off.) is a guarantee that the monoaceticacidester of salicylic- acid in these tablets is of the reliable Bayer manufacture. yesterday on the coal situation. majority of inhabitants of Paris, hi ing no storage facilities, buy. small quantities of coal weskly even thése with cellarage laid smaller supplies than usual this ter and their stock is now exha: The authorities are using every to alleviate the suffering. years. and is now closing. will be one of appreciably smaller rainfall and more regularly divided seasons, very hot summers and very celd winters. IEdouard Herriot, minister of sub- sistence, made a far from optimistic statement in the chamber of deputies Such a period began in 1800 The next epoch - Hudson Super-S ~ Still Reigns No Car Disturbs Its Supremacy Now it is known that this year, as last year, Hudson Super-Six will be the first car in Motordom. The New York show exhibits no new sensations—no new types to challenge Super-Six leadership. Nothing but types which the Super-Six has everywhere outrivaled. Same Models Shown Here $1650 1650 1950 Phaeton, 7-passenger, Roadster, 2- passenger, Cabriolet, 3-passenger, Many Peak. All the speed records for stock touring cars. 7 The record for quick acceleration. 3 hill-climbing records, including Pike’s The 24-hour endurance record, by 52 per cent. The transcontinental record, won twice by a Super-Six in one continuous 7000-mile round trip. As a result of this supremacy, the Super-Six has be- come the largest-selling front-rank car. That situation will continue this year. It will prob- ably never change. The New York Show proves that engineers have found no way to match it. .$2175 . 2025 roit. ) Touring Sedan ...... Limousine (All prices f. o. But remember that the Super-Six is controlled by Hudson patents. It stopped the trend toward Eights and Twelves. It brought leadership to the Super-Six. But it did not bring leadership back to the Six as it was, or the Six vas it is, except to the Super-Six. Without the Six has its old shortcomings. The models shown at the New York Show are now on exhibit here. They include all styles of bodies, all de- signed for what is now the foremost car in the world. A new gasoline saver also appears on these cars. «. . So you can see today, in our showroom, the best of the New York Show. Town Car Town Car Landaulet Limousine Landaulet . 287 ELM STREET