Evening star., 1922-06-17
FINANCE AND TRADE NOTES.

consolidated copper reports pidh
for reorganization. approved by
many creditors. bondholders and
stock holders, provides for foreclosure
Of mortgage and bidding in of prop
erty by reorganization committee.
and formation Of new company
with ss,oOo,OOO capital.
An issue Of American Refrigerator
Transit's 6 per cent equipment trust
certificates. amounting to S4,662,00o'
has been placed privately.
Superior Steel declared Its regular
quarterly dividends of per cent
each on first and second preferred.
payable August Is to stock Of record
1t is reported that annual reports
of Mexican Pete and n-American,
shortly to be issued. will show fiat
tering earnings.
Transue & Williams declared a
regular quarterly 5o-cent dividend.
payable July 10, to stock OF record
July /.
1t is reported that action on initial
dividends of Ann Arbor Rails pre-,
ferred probably will be delayed until
the settling of coal strike.
Oil production in California, dur
ing May; averaged s5a,s1S 7.;ts PATHS dai1x
average of 341,o77 barrels per day in
J. p Morgan & Co. and Drexel & Co.
will act as repositories for the Read
ing general mortgage bonds.
Sheet steel production, In the Ma.
honing valley is expected to reach 80
per cent of capacity next week.
illinois Bell Telephone plans 7 per
cent cumulative preferred stock
ofrering at par to customers and EN-.
ployes. Exact amount OF the oherlng
has not yet been determined;
regular % Quarterly dividends Of sA
per cent on common. and ~ pei
cent on preferred, both payable July
Is, to stock of record June 80.
wheeling Steel and Iron has. has ad d.
vanced all three grades OF sheets ~
cents a hundred pounds.
Texas Company will shortly an
nounce a call for payment August ]
Of it's s22,7oo.ooo per cent notes Iois, al al
made without additional financing, 1t
is announced, and & WIN WIPE wipe oar oanitsI ls1
stock outstanding.
President jackson Of Chicago and
Easton Illinois says the road has Just
laid thirty miles of new rails ana
intends to order sixteen new loco
motives. Car loadings, he says are
i The Ohio Fuel Supply declared an
extra dividend of 2 per cent. pay
ahle in liberty bonds. and regular
quarterly dividend Of 2h per cent on
common, payable July 15 to stock OF
record June 20.
ending June 3 was 4,440,900 tons, a
decrease of 4 per cent from previous
week. and IA per cent less than re.
cent record production OF 5'lsV'ooo
tons.
A number Of issues were admitted
to New York Stock Exchange trad
inp among them certain Illinois Cen
trai bonds and Pierce Oil and certain
stocks of Seaboard Air Line. Hudson
Motor Car and Cosden & Co.
Michigan Central in 1921 earned
s4.2s a share on stock, as against
$20.31 in 1920.
week ending June averaged lso,Soo
cars daily, as against $4,000 the
week before, but total loadings were
smaller because of Decoration day:
Universal Leaf Tobacco declared It's
regular quarterly dividends of per
cent on common and 2 per cent on
preferred, both payable July TO
stock of record June 81.
President Chaplin of Hudson Motor
Car, stock Just listed on change, says
he sees no signs Of let-down In pres
sold $500 cars in May. and will make
more than that in June, with urgent
demand for more than can be pro-
duced.,. The company. he says ts
placing contracts for material. -.
Cuba Cane Sugar treasurer says
funds for payment Of July coupons of
ccmpany's and per cent converti-
BILE debenture bonds have been de-
PRODUCTION of crude oil in the
United States for the week ended
June 10 averaged 1,45o,100 barrels a
day, an increase Of S,15p over previous
week.
secured external forty-year per cent
bonds Of the Kingdom OF Serbs.
Croats and Slovenes has been made
by a syndicate of New York, Phila-
delphia and Cleveland bankers. Bonds
wer offered at s5h to yield about
$40 per cent.
Singer Manufacturing has declared
its regular quarterly dividend Of
$1.25 a share, payable June 80 to
stock of record June 15.
It has been computed that the. av-