South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-03-23

rent that the government would dis
pose of its stock Of rye and would
abandon a project 10 send the grain
TO Europe.
Oats merely reflected the action of
corn.
Provisions developed strength not
withstanding sales that were as
cribed 70 packers.
| Overheard in Wall
Street
The General Motors corporation
has bought the plant and otlrer
property of the Interstate Automo-
bile company at Muncie, Ind, and a
40-acre tract of land adjoining it.
Additional factory buildings will be
erected and a new General Motors
unit created for the making of auto
parts and eventually for the build
ing of automobiles complete.
Automobile builders find greater
cheer than do steel makers in the
new price agreements. Not only do
new steel and iron price schedules
reduce the cost of inventories but
sta Utilization Of prices for a year per-
mits the motor builder to proceed
with capacity production, knowing
about what manufacturing profits
will be and having no further fear
of a shrinkage in inventory values.
The board of governors Of the
New York stock exchange voted tie
close the exchange March 25. the
day Of the parade here Of the 9th
division on its return from France.
Through purchase of the Doheny
Pacific Petroleum company. Operat-
ing in Venture and three other
Southern California coy@ties. the
Pan American Petroleum and Trans
port company secures a daily pro-
duction of about 800 barrels of oil.
and expects shortly to enter the re-
fining industry. The refinery to be
erected will have an initial capacity
of 1000 barrels a day.
Royal Dutch in Amsterdam has
been TO 10 points below New York.
The latest cable received indicates
that the stock is selling at an equiv
alent OF "a for the new stock.
The Engineering and Mining Jour
nal says: "A particularly noteworthy
development Of the week was con-
siderable inquiry from abroad and
the consumption of some respectable
business for export. The stocks Of
copper in Great Britain and France
are known TO be large, but it is con-
| jectured that they are not being Of
cred for sale in ways that appeal to
buyers, who prefer 10 sotne extent 10
purchase new copper in this mar
ket."
The treasury department has au-
thorized the immediate redemption
of a block of 1913. 5000 loan GER
tificates of Indebtedness dated Dec.
/ 3. and maturing ordinarily May 9, -
par and accrued interest to the date
OF redemption. The object of this
action is TO get the work Of redeem
ing the certificates out Of the way
their tremendous duties Of the loan
campaign on April p.
American Bosch Magnetic COM
pany. $50 a share, initial, or at the
annual rate of Sc a share. payable
April 5. 10 stock OF record March 81.
The financial requirements OF the
railroads in the current year, based
on proposals made by the director
general of railroads and estimates
Of average monthly net income, are
placed in some quarters as high as
$1,000. 100000. This amount has
+ been tabulated as follows: S3S1,SO6. e.
000. due on 1918 accounts. more
than S30OOOO.0OO TO finance inland
waterways, the Boston and Maine re
( organization. and equipment orders
OF 1919 10 be paid for this year;
IS491, 00O, 600 to finance capital eX-
penditures, and s2OO 600. 600 rail
road maturities in 1919. To this is
added an estimated deficit OF S24e.
600, GEO which the administration
will have TO meet If net operating
/ incomes continues at the rate of
! 5,0OO, 000 a month, making the
total requirement $3.50. 000. 600
From this il IS suggested that $3.50.
100000 may be deducted as the
amount or 1919 rental the roads can
use for capital expenditures, to-
gether with $500. 600. GEO naturities
which viii probably be refunded.
lleaving the net requirements for the
year at S1.2s0. 100000.