Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-10

EEEE III TIE tdTIy EEaUIHN FCkItTWdN. he
reason for this easiness Is the large
supply OF funds. which has been ac-
cumuiated in and around New York for
tax payments and Government financing
next week.
It is reported that the Edgewater plant
Of the Corn Products Refining Company
viii resume operations early In July.
this should improve the position Of
company. which Is now operating at
about Is per cent of normal capacity.
Mack Trucks Incorporated first pre-
ferred reached 90, with the common
above 80. support was very good con-
sidering the easy tone throughout the
general list Mack Trucks is believed
TO be earning at the rate OF $40 per
share or better on the common stock.
and, while no dividend action Is eI-
pected on the common until late in the
year, it is considered probable that
dividends should then be ordered at the
rate OF So per share with even IS men
toned in some quarters
The United States Steel Corporations
untitled tonnage report Is due Saturday.
and 1t Is generally expected that this
will show an increase Of from 10000
tens or more for May. United States
Steel common is another comparative
hard spot although market sentiment Is
turning 81 bit more cheerful on the In
dependents.
! The technical position of the market
! came in for considerable attention dur
ing the day, and, with the European
situation turning less favorable and the
railway unions talking strike vote, bears
were more aggressive and rafded several
of the leaders with varying success, es-
peciaIlv III the afternoon.
Hot weather was responsible for some
Of the sluggishness in the market, as
the humidity in the board rooms cut
down commission house attendance and
support from this source was curtailed.
II is understood that negotiations be-
tween the Pennsylvania Seaboard Com
pany and the Carpenter Steel Company
are proceeding steadily. and that an
announcement may be expected In the
near future.
MARYLAND Oil worked into new high
ground, above n. following the repor.
at four new wells had been brought
Yin the Burbank field in Oklahoma
Tie estimated daily production OF the
new wells is about 1850 barrels for the
group.
International Nickel came in for some
pressure. following publication Of the
1927 report, showing 4 deficit Of ST.
SIo33T However, reconsideration OF the
report brought out the point that the
company had gone through the worst
wear in seventeen years without borrow
ing money from the hanks and at the
close was still in a fairly strong hnan-
cial position.
The Chicago, Indianapolis & Louisville.
known as the Monon, declared the usual
seni-annual dividend OF per cent on the
preferred and is on the common. In
connection with the report. President Fl
r. Kurria said "the fourth week in May
was the best in the history of the Monon.
excepting the last week in September.
192 Just when the rate increase was in
full effect. No coal has been shipped
since April 1. On the average about s
PER cent to 10 per cent OF our freight reve-
nue. is from coal Gross in the fourth week
OF May showed an increase of 237 per
cent over that of fourth week Of May.
1921 Freight in fourth week OF May in
creased 1855 per cent over the 1920
week"
Active building operations throughout
the country contribute to the business of
National Lead, and il is believed that the
company is now earning at the rate of S15
share or better--Copyright 1922, by
Public Ledger Company.