Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1917-03-31
FINANCIAL GOSSIP

L. w. Wagner & Co.: Besides the
influence of booming business as
result of war preparations. we have
the fundamental underlying factors so
absolutely necessary to the success of
a constructive market In securities,
viz. Money in abundance at low
rates and prospects of bountiful crops.
We think prices will go much higher.
The Union Trust Company an.
nounces that Mr.. G. G. Powell, who
has been associated with the bond de.
partment of this bank for the past
six years, has been placed in charge
of that department.
~S~
Announcement was made by the
Union Trust Company that Frederick
A. Yard, formerly president of Yard,
Otis & Taylor, having disposed of his
interest in that company, will join the
Union Trust organization as vice.
president, with special supervision of
the bond department. In enlarging its
present banking offices, the Union
Trust Company will devote a part Of
the additional space to its bond de.
partment, and will engage in original
underwriting on a much larger scale
than before. Mr.. Yard has been ac-
tive In the investment market of Chi
cago since 1904 and has been the head
of Yard. Otis & Taylor since 1911. BY
joining the Union Trust, he brings to
its bond department fund of energy
and experience and an excellent rec
ord for successful operations in both
the fields of buying and selling securi.
ties.
Chicago bank clearings gained $97,.
$40, 760, or 2771 per cent, over those
of the corresponding week last year
The total was si51, 725,9S9, as against
S353,S79,129 year ago.
~
The Chicago Telephone Company
filed petition with the state public
utilities commission asking for an or
der by the commission authorizing II
to issue capital stock to the amount
of s6,000,0O0, The stock will be Of
fered to stockholders at par as soon
as sanction is given by the commits
sion.
The Chicago packing houses are un
derstood to be piling record earnings
by reason Of high prices. A financial
authority declared that Wilson & Co.
earnings In January amounted to
sS25,OOO. This was the residue after
the payment of bond interest. II
amounts to practically the full years
requirements Of the $12,OO0OO0 pre-
ferred stock, so that everything
earned in the remaining eleven
months is available for the $2O, O0O, 900
common.
~
Net operating income of the Chi,
cago Telephone Company for Febru.
airy was $361,900, against $362,370, a
decrease of s470 compared with the
corresponding month last year.
According to the annual report of
the Assets Realization Company, the
net loss in the last fiscal year was
1884, 400. The total deficit is now So,
175,4SS.
~
The American Telephone and Tele
graph Company has decided to dou
BILE the capital stock of the Western
Electric Company, one of the subsidi
aries, from S15,OO0,0OO to 100000, 900
and a meeting has been called fol
April to take action.
~
The Continental and Commercial
Trust and Savings Bank the Central
Trust Company of Illinois, Lee, Hig
ginson g. Co., and other Chicago banks
and trust houses are offering subscrip
lions to the new issue of 100000 OOC
French government two year 5h pc,
cent secured loan convertible gold
notes TO be dated April /, 1917, and tc
mature April /, 1919, without option
or prior payment. The price is 9e
and interest which, If the notes are
carried 10 maturity, will yield slightly
over per cent.
AZ
OpnRr~ $50 -..,