South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-04-14
Corporation NeWS

A further decrease. although
slight. in foreign holdings Of the
common stock of the United States
Steel corporation is shown in the
latest data. Investors ownership
shown an appreciable increase.
Gross income Of the Barrett Co.
OF New Jersey and it's subsidiaries in
1917 was $9.235.S7O, compared with
$9.547.6O4 in 1916. Net profit was
$2,S61.3SS. against $5.OO6,629 the
preceding year.
From the beginning of 1915 to
March 30 the Columbia Gas and
Electric Co produced 5.474.349 gal
ions of gasoline. compared with .
927.336 gallons in the same period
of 1916. Average daily production
shows a considerable improvement.
The Chicago. Lake Shore and
Eastern in its annual report for the
year ended Dec. 81 shows. Total
income, $1,S3S,2O7; general charges.
S575,420; deductions. s43S,O3S; net
income. $S24,749.
Word has been received that the
Red Star Petroleum Co. a subsidi-
airy of the California Petroleum cor
pOration has brought in a new we'll.
which is flowing at the rate of 1000
| barrels a day. The oil is of a high
/ grade. measuring 81 degrees gravity.
This is the second we'll brought in
by the Red Star Petroleum Co. The
| first well was completed several
months ago and is now flowing at
the rate of about $50 barrels a day
! 1t became known yesterday that
| the Illinois Central railroad has sold
! 100000 OF it's five per cent equip
ment trust certificates, series z. Il
is understood dealers took the notes
ION a basis slightly above six per
cent, compared with around four
and one-half per cent, the ruling
yield of year ago.
The Erie railroad has asked per-
mission to amend the indenture Sc
curing the bonds under its $500. OO0,-
600 refunding and improvement
mortgages.
Holders OF half-paid receipts of
1.-THE collateral trust six per cent gold
bonds. series A, of the Chile Copper
Co. are being notified of an extern
sion in the time for payment Of the
final installment from May %. 1918.
to Nov. 20, 1918.
A simple and informative booklet
on trade acceptances has just been
issued by the Equitable Trust Co. OF
New York under the title. Accept
lances as an investment" This piece
Of acceptance buying has been large
/ " neglected in the past.
In the short-term note market in
New York two issues of the Proctor
& Gamble IS made new high rec
ords. The issue due in 1929 was es-
peCially active around 1917. The
issue price when the notes were
brought out a month or six weeks
ago was %. Some OF the days
prices: Proctor & Gamble. IS. 1919
i1OO5s 1920, 1OO5s: 1922. 1917
1925. 1O1L d1O11a. American Tele-
phone 6s. 80 3-16a99 5-16: Bethle-
hem Steel 81, 9S; Westinghouse
9s1s
In the general bond market il
New York st. Paul's general and re.
) funding AIS attracted attention
selling ~ 6712 At that price tn,
income return is between 6is anC
Ga per cent. or more than on the
Rock Island refunding As. Will,
there is some question regarding st
5 Paul dividend policy on the pre-
: ferred shares as we'll as the com
mon, analysis will prove that undel
5 the governments guarantee there &
la wide margin Of safety on all St
: Pauls bond interest charges.
5
Sinclair Oil acted well and follow
) ed an almost steady upward ten
5 dency closing at 26%, against
; ! close Of 251s on Thursday. Their
s was no news, although it was GOSSIP
; that Pres't Sinclair had said tn
: present to be the right time to bu
5 the stock.
! All the listed oil shares were firm
) Texas advanced rs points and Mex
s lean Petroleum was up 2is. Obi
I cities Gas was = above Thursday. I
s is considered in New York that Their
: Will be shortly another advance Il
: the price OF crude oil.
4
; Some OF the pools in the loy
: priced stocks were active Cor
: Products and American Can com
= mon were both higher.