Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-15
WALL STREET GOSSIP

NEW YORK, June 15.-The general ex-
pectaglon Of an extra payment Of 50 per
share TO stockholders OF Studebaker later
IL the year is the basis for the strong
buying which developed in this Issue
yesterday. This stock led the motor list
In good rally from the low levels made
earlier in thte week and ct the close
stood points up for the day.
Prospects OF an. early settlement Of
Mexican financial troubles account for
the strong demand which has developed
for Mexican issues For instance Next
can Petroleum. where it IS reported there
is still substantial short interest, came
within a couple Of points of the years
high. At the same time Mexican bonds
are very strong and the IS opened with
an overnight gain Of IA points, while the
As were up points this morning.
There has been some talk in the mar
ket here concerning the possibility of an
Increase in the New York Central divi-
deud rate from n > per cent basis How
was taken at Wednesdays meeting At
the same time, the strong position of the
railroad would seem TO justify the ex-
pectatiOn that some increase may be
looked for at the end of the year, proved
that business continues at the present
rate.
Peoria & Eastern assumed leadership
ported that this road may be merged
with the New York Central. The latter
already owns control and Peoria & East
ern is meeting with the same sort OF
report that have been circulated con
corning stocks Of other roads, partly or
entirely controlled by New York Central
At the same time Peoria & Eastern has
enough in its own showing to recommend
it. as the road has not increased its
funded ebt since before the spanish
American War, and owns all OF its
equipment.
The Sinclair initial dividend Of so
cents per share on the common, or at the
rate OF s. annually. was not much Of a
surprise to the Street. However in some
quarters apparently there had Leen an
idea that Sinclair would inaugurate
somewhat higher rate. and there was
considerable selling on the announcement
The company regards IL as better policy
10 maintain moderate dividend with
such extras as may be justified from time
to time.
Fisher Body Corporation, for the year
ended April 30, earned S9.l55,J41. after
for the previous year. Surplus was
S6-l93 456, as against S4,SO9,94S.
The preliminary report Of the Inter
national Mercantile Marine was hardly
encouraging, as estimated profits after
taxes and fixed charges were hut S11 916.-
al in 1921. as against SIS. 252. 335 In
1920. Much of the difference. according
TO P. a. $. Franklin. president Of the
company, is due TO the falling of in
third class passenger service.
Loading Of revenue freight during the
week ended June tOtalled 7JO.645 cars
compared with s21.121 cars during the
previous week, or a decrease Of 7O4T6
cars according Ia the car service division
of the American Railway Association
This reduction was due to the observance
Of Decoration day on May 30. Com
parsons show that the average daily car
loading during the week ended June
was 10000 ears, while that for the pre-
ceding week was 137. 600 cars. Idle cars.
because OF business conditions, numbered
4s0.266 on May 81. compared with JO4. 7O2
on May % or a reduction of ~ 438 cars
according TO reports just received from
the railroads Of the United States
Copyright. 1922, by Public Ledger Com