Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-12-08
wall srREEr GOSSIP. BY MO::IroR.

WALL STREET GOSSIP, BY MO-,ITOR.
The st. Paul issues were under pres
sure from the opening of the market. Be
fore the wave OF selling had subsidized, the
preferred stock was down nearly points
and the common at 1914 was at the lowest
price ever recorded. There was Il rel Ort
that the company would be unable to pay
the interest charges on some of its bonds,
and more specifically tina. trouble would
lie encountered in arranging for an ex-
change of $25,0OO.0GU which the company
owes to the United States Government
through the revolving fund.
There is much talk of reorganization
TO come in the railroad world. One prac-
ton is the Erie. In some important bank
ing quarters, il is limited the Erie will
be taken in hand some time next ear
ana probably IN the spring. 1t is under
stood the New Haven decision calls for
action beyond that already decided upon
Activity in stgdebaker and the other
motor issues during the last few days Is
attributed to n operator who lOOmeh
large in the public prints last fall Sell
ing attributed 90 interests identified with
other companies also was in evidence.
When the general list became Irregular
toward noon, the lOw-priced oil stocks
were bid up. Texas oil was one of the
outstanding features Of strength on q re-
port that a meeting OF the directors will
he held presently to consider a plan for
The segregation Of the sulphur properties
OF that company.
Canadian Pacific responded to the
sweeping victory OF the Liberals in the
government elections by advancing more
than three points. While no definite plan
affecting the Canadian Pacific specifically
was included in the Liberal program. it
is felt the general policy ou' lined win be
OF benefit to the company.
United States Realty made new high
record for the year. Buying is based
upon 4 report that when the directors
meet next week an initial dividend at the
rate cf Sc 4 share annually will be de-
ciared.
4 bright spot in the railroad situation
was the declaration Of dividend of 10
per cent by the directors of the Pere
Marquette on the > per cent preferred
stock. This stock is cumulative and div
idends have been in arrears since Jan. /,
1919.
The stockholders OF the Schultz Retail
Stores Corporation have voted To increase
The no par common stock from 2J0,U00 TO
@00O09 shares. At present there are ga.
500 outstanding. This increase leads TO
= report that 4 stock dividend presently
viii be declared.
Arrivals Of gold included s1.309OOO con-
signed to Kuhn Loeb and Company, S100,-
no to the National City Bank from Eng
land and three boxes Of gold coin from
Holland.
L director Of the Tobacco Products
Company said it is probable new financ-
ing to the amount of 50, 100000 or 1000
zoo will be announced presently for the
purpose of retiring approximately $780,
CCO scrip which has been issued as
dividends aud to pay off approximately
s2.cOO,OO0 Of bank loans.
Transactions I'm United States Steel COM
mon in the last five minutes of trading
were ON an unusually large scale. The
steel reviews were Of an optimistic tenor
operations for the last month having re-
dueed appreciably the stocks Of pig iron
on hahd.-Copyrigh 1921, by Public
ledger Company.