Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-03-31
FINANCIAL BRIEI2

Philadelphia Stock Exchange N will "
dissolved April by mutual tgreement.
The average price OF the twenty active
industrial stocks advanced O,O7 MIR
cent yesterday to SS.S7. while the
twenty railroads advanced O.70 per cSnt
to So SO. tffr# III
The United Alloy Steel Co'mpany nor
1921 reports a net loss of x2,7l5 (70
after all charges for depreciation Ind
inventory adjustment. In 1920 khe
company reported proht df $a,oJ1,-
st. T'aul's loadings first twcntyEaye
days of March were 10. .45S. aeAinst
0t. t.410 year ago. Daily average was
5O21. against 4202. Chica 70, 1erre
Haute and Southeastern's totals were
1888, against GS7O year hgo. NJ
The Vulcan DEFINING ConApant for
the year 1921 reports a net inco,he Of
$3.50, against $82. 105 in 1920. After
payment Of dividends there was n dehcit
of SAL .450. against $114,970 the year
before. NJ,
New York Central Railroad Twas to /.
day granted authority by the Interstate
Commerce Commission to issue $50, :
100000 5 per cent refunding and i'm.
provement mortgage bonds serbs &C.
which are to be sold at not less than
80.
Standard Milling Company Has sold
81 800 900 Of its first mortgage 5s, due
on November 1, 1880, to meet maturity
Of $1.500,O00 Of Hecker- -JonS Jewell
Company's first 6s, due in August.
They were not offered publicly. but were
placed privately by bankers. I
The International Harvester Com.
pouv'c annual ,,oport fo, 1901 ,hn~r. =
net profit for the year Of 81. lag. .918. 80,
in contrast to $40. $50. 300 for 1920, and
total sales of 1921 ,215, 600, Or "a per
cent of the total for the preceding
years.
A syndicate of international bank.
ers will offer about $50. .000}OO0 8 per
cent bonds of Czecho -Slovakia in New
York early next week. bonds will
probably run for about twenty -fiya
years. While no details as ito price are
available. bankers think such an issue
would find ready market around par.
New Cornelia Copper Company for
the year ended December ;B1 shows net
loss of $3.50: :103 after charges. depre-
citation and Federal take ,. This com.
pares with net incomg of 1901, ,137.
equivalent to 55 cents a share ($5 par
value) earned on the $4,000, 900 capital
stock in the previous year.
The Kellogg Switchboa and Supply
Company reports a profit and loss SUR.
plus Of 81 1907 for 1921. Inyen.
tories were valued at $2.s91, ,774, ac-
counts receivable. 81. .776.214 cash on
hand was S13S, ,S07l and Government
securities were SI.O49. .iO6. Accounts
payable totaled S122 ,O32.
The Dome Miies Company. in n
statement to the New York Stock Ex-
change for the eleven months ended
February IS. 1922. shows operating
earnings of 81 l,01G.1O4. Net profits
after reserves Tor depreciation totaled
S324, 263; The surplus after diyidends
The international Silver Company re-
ports net earnings for 1927 Of S470. .518
which after preferred dividends, was
equal to S1.6S a share earned on the
$685. ,362 common stock outstanding. In
1920 the company earned 81 .335 ,53S
net. or S133.3O share on common
stock after preferred dividends.
Report OF the Calumet and Arizona
Mining Company for the year ended De-
cember 81 shows net loss of $694. $40
after depreciation. dehatiOn and Fed
eral taxes. This compares with net
income Si.,,43. 202, equivalent to S2.SS
share $50 parI earned on the So
425, ,21O capital stock in the previous
year.
-Timken- Detroit Axle Company for
fiscal year ended December 81 shows
Il moderate operating loss" Surplus
stands at ss,730.737: compared with
50, $3.50, ,662 at close of preceding year.
$347 800 and = per cent on common.
Or $59. .56S. leaves S722 ,96S accounted
for by operating loss and inventory
shrinkage.
Chicago Northwestern reports 1885,
G93 cars handled first twenty eight DAYS
of March. against 125. 1861 same period
a year ago, 81 1854 cars loaded on home
rails, against S7.914. and A 300 were
received from connections. against 81
Al. During the first twenty eight days
of March, Illinois Central handled 147.-
537 ears, against 14S.329 same period
in February and 121 $50 a year ago.
American Foreign Trade Corporation,
which is affiliated with Tobacco Products
Corporation. has called a special meet
ing of shareholders April Is to vote on
proposal to change par value of COM
mon stock from 500 to SO. Thus, in.
stead of 200, 900 shares Of par value of
so .O00, 900 authorized common will
consist of 200, 900 shares with par value
of 50, 600. 5000. There will be no change
in preferred. which consists of 10000
shares of 500 par or 50. 600. 900.
The volume of railroad equipment or.
ders now pending Is larger than at any
time in years. 1t Is estimated fully
10000 freight cars will be let in next
few weeks. principal inquiry being that
of New York Central for at least 15,-
600 box. hopper and refrigerator cars.
Pennsylvania has just closed for 80
passenger coaches. Demand for loco
motives shows signs of revival. Nego-
tiations are now under way between
roads and locomotive compa nies should
result in early placing of orders for
several hundred engines.
A Berlin dispatch says the reich
banks annual report for 1921 shows
net profit of 81 500 900 marks of which
$4,000 GOO were required for 10 per
cent dividend. In 1920. SO per cen,
dividend absorbed 1900, 900 Of the
SO. 100 .OOO marks net profit. Gross
profit is 9.177 900, 900 marks. against
2.0OG. 200, 900 the previous year. losses
through credits taken abroad for Gov
ernmont S.ll5 900 900. against 1,G3S.-
600, 900. expenses co. ,O00, 900, against
243 200, 900, Governments share Of
profit 541 .OO0,0 900. against 1O1 900 900,
total turnover 10000 900 900, against
1910, 600 900. Silver holdings De-
cembcr 81. amounted to 1851 900 900
marks. Greater part of silver has been
deposited As security abroad for JN,-