Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-06-28
GOSSIP OF
THE STREET

As the Baltimore & Ohio Railroad
is often included in the list of the So
called coalers. the May statement of
earnings are of particular interest at
this time as bearing on the effects OF
the prolonged coal srike.
Despite the heavy loss of tonnage OF
this important commodity. the gross
operating revenue for the month showed
an increase of 81 .130.O14. compared
with the corresponding month last year.
Out Of the gross of SIG. 1861 .I02 there
was saved S2.jO4. .4S1 for net income.
an increase of $50. OBS. For the five
months of the calendar year. gross rev .
enue showed gain OF S11 ,Sl3,tli ana
after all deductions net operating in
come increased S4.6O4.R 1872 over the cor
responding period of 1021. This can be
accepted as concrete and positive evil
dence of the better business conditions
and the returning industrial activity.
If the company had been able TO add
to the above figures the large revenue
it would ordinarily receive from the
enormous soft coal tonnage. the pre-
dicted resumption Of dividends would
soon be realized. Looking still further,
there is no doubt business conditions
would also have been much better.
A Fallen Idol
For some weeks daily commuters
from one of the seashorc resorts have
beer greatly interested in the aristo-
cratic bearing of one of their fellow
passengers few minutes before train
departure it has been his custom to
drive IN to the station in an attractive
car. His general appearance was that
of man OF afflueut circumstances, al
ways we'll but not overdressed. During
the daily trips he made no effort to
make up acquaintance with the other
passengers. but maintained rather a diff
fiden. attitude. lie was always met
ut the station on the return trip by
the same car and greeted by Il fashion
ably dressed lady. Word was passed
along the line that the mysterious pas
senger was the executive of one of the
important Philadelphia institutions anC
possessed n very beautiful summer resi-
| dencc in the select section of the sea
short resort.
All the romance. however. was
! knocked out of the incident few
mornings ago when wcll-known bank
| official informed the crowd the mucl
! looked -up-to aristocrat was not the
president, but simply runner of one
of the smaller trust companies.
So another idol has fallen and the
| laugh is on the crowd. Some say he
made a big hit in the market by acci-
| dcntally tumbling on the right side OF
one of the Mexican Pete swings.
British Investment Offerings
New investment offerings in Grsa,
Britain during May amounted to $50.
IS2.7T. or more than double the
amount of the offerings IN April. The
total in May was also twice as large as
tho amount of investment issues in the
corresponding month of 1921.
In the first five months of 1922 the
amount of new investment offerings in
Great Britain exceeded by more than
$50. 900. 900 the total offerings in the
same period of 1921: The figures. re
ccived by the Bankers Trust Company
of Now York. from its English In.
| formation Service, are as follows: Jan.
uary- May. 1921. f9O.3ol.727 Janu.
ary May. 1922. f14G. 1J7. 1876.
Almost one half of tho amount of tht
Investment offerings in May. 1922. rep.
resented issues of foreign countries of.
fercd to British investors.
Railroad Strike Vote
There were differences of opinion ir
| regard to the railroad labor outlool
| at the end of the month approache!
/ and more interest was shown in som,
quarters over reports about the strik
vote now in progress.
In some important railroad circle
it is insisted there will be no disturb
ance of the transportation situation
! but there were some railroad official
who expected strike will be declare,
by those organizations which have beel
conducting Il strike vote.
| Outside of the transportation fell
| little uncasinesS was in evidence owe
the labor situation. 1t was taken a
something to be met and the issues mus
be settled sooner or later. The question
Of reducing operating cost might jus
as well be decided now as any othc
time. Market operations in the rail
road stocks generally did not indicat
any uncaS!ncss over the situation.
Operations Greatly Curtailed
There was a general abandonment @
the buying position by operators VIII
had been most prominent in bullish nc
tivities in leading stocks for some tim
past all through yesterday. The actio
of the market generally indicated
growing disposition to wait for dcfinit
knowledge in regard to development,
in the railroad labor situation. Thcr
was II divergence of opinion as to wha
the result of the voting will be. Man
railroad officials hold the view thel
will be no interruption to railway trans
pOrtatiOn. There were one or two in
portant railroad officials who opcnl
stated the opinion Il strike will
called.
The market. however. had suifcre
from "A contraction of general tradir
because of the concentration of intcres
in the Mexican Petroleum movemcn
That stock, in its trading conditio
, throughout the day. gave evidence
power having been eXcrted by the Ne
York Stock Exchange authorities
force cessation of anything in T.
way of further directed advance
those in control of the company.
An advance of : points was mat
ut the beginning of business when II
stock solf ut 200, but it had abrul
, declines during the remainder of the df
and in the afternoon was down to IS
loss of over 22 points from the hil
price at which it sold in Monday
: dealings. The two other stocks in Il
, same group. Pan American and Pan
American b. We're also without d'
mund at the newly established hil
levels and both yielded over 3 points.
! The reccsSions in these stocks couple
n will othar dave lonmpnta made the gel