Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-09-29
NEWS FOR INVESTORS
Range. '22
ILL.,

The average price of twenty active
industrial stocks was 90 per cent lower
yesterday at 06.5S, while twenty rail-
roads were .O3 per cent off Mt S0.93.
Middle States Oil reports for six
months ended June 80. net income So, :
4s6, 19S, after expenses and reserve in
Guiding Federal taxes, but subject to
depletion.
The Chicago and Alton Railway.
through its receivers, will make requests
IN Federal Court to pass forthcoming
interest payment on its bonds and issue
a loan Of $4,000, 900.
l--According to advices from London the
| United States and General Trust Cor
poration is issuing $3.50 900 of Az per
cent debentures at ST1a. the balance Of
an authorized issue Of f500,000.
Authorization has been obtained by
the municipality of Rio do .Taneiro TO
contract loan for $40, 900 900 in the
nited States. According to officials of
the city this loan will be used exclu-
slvely for consolidation of debt. The
totai debt OF RiO de Janeiro now stands
at SO. 900, 900.
Six of the Liberty bond issues sold
Yesterday at prices at which their yield
Is more than per cent in comparison
with only three yielding more than 4 \
week or so ago. Tho highest Weld in
| the list 10 be found, mt last night
| closing figure. in the second AS. which
| at the closing price of 99.02, yield 4.27
| per cent
The Executive Committee Of the
United States Rubber Company met
yesterday and. it is believed, deter
mined the dividend policy to be adopted
with respect to the preferred stock at
next thursdays meeting of the full
eoard. it Is the consensus in the
Street that the 8 per cent rate will
! be maintained by declaration of the
regular quarterly dividend of > per cent.
With the question up1ermost in the
speculative mind last night whether the
reaction in stocks is over, the statisti-
clans were busy figuring up the results
to date. These show that the extent
OF the present decline has been lust II
fraction more than five and ono half
points for the average. The high point
was 9O. 23, reached on September II.
The low point, reached yesterday.
was S46l.
The National City Company of New
York was the successful bidder for tho
$4,000, 900 loan for the Government of
Haiti, offers for which were opened at
not made public. The bonds, which arc
the first series of SAC. 200. 900 loan
provided for in the protocol of October,
1919, between the United States and
Haiti, bear interest at 6 per cent and
will mature in thirty years.
Some indication of the Improved con-
dltiOns on Western railroads was re
vealed in a statement issued Yesterday
at the offices of the Great Northern
Hallway. That road. according to Ralph
Budd, president, has completed its new
shop organization with an agreement
regarding wages. rules and working con-
ditions. Advices from Chicago said Of
fcials of tho Chicago and North West
ern predicted a speedy return to normal
conditions.
The Tennessee Central Railroad has
been authorized by the Interstate Com
merce Commission to issue S937 900
first mortgage g per cent gold bonds and
to guarantee payment Of interest and
principal for an issue Of $G3G, 900 in
equipment trust certificates. both sets
Of securities to be deposited with the
United States Treasury as securities
for loan of $937 900 made to the road
by the Government. The company re-
Gently was reorganizcd.
Chicago advices report m order from
Chicago and Alton for 10000 tons of |
rails, together with necessary track
material. Orders from Illinois Central
and Great Western for ITO, 900 tons
of new rails are expected this week In |
steel circles thorc. Further word on
Atoms situQtion Ht present revealed q |
disagreement on settlement terms with !
shop workers, bat indicated the prob
able acceptance of the receivers pro.
posals within short time.
The report OF the WHY'S Overland |
Company and subsidiaries for the six
months ended June 30, shows net loss |
Of $l63.3 800, after depreciation and in
terest charges. After charging ont
So, 900 for contingencies, $3.50 900 for |
inventory losses and 500. .0OH for dis |
count and expenses of gold note issued !
the deficit was Sl.O19.2li, from which !
S26, 80 was deducted nS dividend stock !
of employees and other returned 10 COM
pany. leaving the net deficit for the
period SD0".lG4.
The New York Stock Exchange is ex- |
pectpd to announce formally today the !
terms Of resolution passed upon BY |
the governing committee looking to
closer supervision Of stock "Spccialsts"
and their activities. This phase Of Sc /
curity dealing is understood to have |
been under investigation by the cX- |
change authorities for some weeks. |
Some changes will l." made in those
regulations of the exchange which gov
ern specialists and the uses to which |
information in their possession may be
put.
= September copper sales nrr tcnta-
lively estimated ut Approximately 1o5.
OOO, 900 pounds, an increase Of -, 600, |
600 pounds over August. In July sales |
also totaled 12I, 600, 900 pounds. OF
l,.. Al,
estimated that slightly loss than -.
OOO .O0O pounds worc sold by the Con- |
per Export \FsorjaH ". which is now !
hoi"vcd to have nu more tiHn ltn, /
GEO 900 rounds e uusolI mo,ul ON |
hand. Win September estimated. total /,
sales Of copper for the nine months /
amounted to ] ,ls0 ,000, 900 pounds, or
at the ratio Of 1,572, 900, 600 pounds for |
the full year.