South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-01-05
Overheard in Wall Street

The Ford Motor CO. is now maxi
ing 1000 passenger cars a day Pro-
duction plans for current year call
for an output of 1000 cars day
by March 1 and more than 5000
by summer.
In concluding his recommended
tions in regard to the railroads Mr..
McAdOo said It Will be impossible
to view the results of even che year
OF federal control under peace con
ditions until the spring OF 1920 and
il will then be too late for congress
TO legisl6te before the end of the
twenty-one months period.
A further decline in prices for
scrap iron and steel has been re-
corded in the last few days and
I heavy melting steel scrap has
changed hands at from SIG 90 $40
per ton. This compares with S22
and $2S per ton a week ago and
with S29 per ton. the government
fixed price which ruled up to
month ago. other grades Of scrap
material have dropped proportion
ately.
a report is heard in the steel
trade that the French government
has placed an order for approx
mateiy $4,000 tons of Bessemer pig
iron with the Bethlehem Steel cor
pOratiOp. but thus far no announce
ment has been made. The contract
is said to have been taken at the
newly established reduction in
prices.
The New York Central system has
signed a rental contract with the
railroad administration at SS7.629,-
GIL a year. This sum is split up
among the New York Central itself
and seven subsidiary lines.
Sale Of 100000 shares common
stock OF General Motors corpora
ton will add $2S.32O.OOO to cash in
treasury. This company, like others
in same line, is only preparing by
large addition TO it's working capt.
tai for period of big demand for au-
tomobiles ard trucks Announce
ment OF need at this time for addi-
tional Gsh probably caused surprise
in some quarters. But it should be
borne in mind that in taking over
Chevrolet and United Motors Gen
eral Mocors corporation secured lit
tie cash.
Sale by Anaconda Copper Of $25.-
coo. 600 of bonds 10 get funds 10 de-
velop copper properties in South
America is significant not so much
because it is the first bond issue
OF that company but because il con-
firms the Judgment OF other i'm
pOrtant copper companies that South
America is the coming land Of cop
per
John u. Ryan says: 1T is diff
fcult to predict immediate prospects
of copper. but there is no sound
reason for pessimism after a few
months Of necessary adjustment"
CAPITAL invested in American rail
roads at the end OF 1917. when the
roads were taken over by the gov
eminent. totaled $50. 543. 3S9.571, the
interstate commerce commission re
ported I'm q preliminary statistical
report OF steam roads. The gross re-
ceipts from their operation during
the Near 1917 was S3.596,S65.766.
while the total expenditures OF op-
Grafton we're S2.35I39S.4l2. This
left a net railroad operating income
after certain taxes and rentals were
su5trac ted OF s1.OS1.556.496-
At an executive meeting OF the
New York board Of estimate the
board voted against an increase 81
fares 10 s cents on lines operated
bv the IntCrbcrough Rapid TRANSIT
60. and the New York Railways Co.
The board also was opposed 10
/ .hree-cent charge for transfers.
= cut or IS percent i'm prices Of
r4diators. boilers and other staples
of its manufacture is announced by
Che American Radiator CO. Vice
Pre~t Rusch says ne hopes the re-
duction VIII quicken and Increase
new building and remodeling ana
assist builders 20 resume the tnli
volume or their operations. The war
sent their prices up about 40 per
cent
rnder the influence % the second
Jav % buying in the oil stocks the
( general market advanced 90 point
I .fr. a. ma ,-roar4od as rpnra-