Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-06-27
FINANCIAL BRIEFS

Arthur Perry & GO. announce the
removal Of their offices to the Lafayette
Building.
Burlington loadings for first three
weeks of June totaled 100 ,655 cars, an
increase Of IL per cent.
Richard l.. Austin. chairman Of the
Federal Reserve Bank of Philadelphia,
has sailed for Europe to be gone until
September.
The New York Stock Exchange has
admitted to list Sinclair Consolidated
Oil S per cent cumulative sinking fund
preferred stock.
The average price of the twenty ac-
tive industrial stocks advanced 0.32 per
cent yesterday to 90. 4S, while the twen-
ty railroads advanced to OPT per cent
to S4.73.
New Jersey Public Utility Commits
sion today sanctioned an issue Of ST.
900 900 mortgage bonds, 81 ,500,0 900
preferred stock and S1.170, 900 common
stock by the Morris County Traction
Company.
The Government Of Buenos Aires is
said to be negotiating q loan Of f10,-
0OO. 900 from British bankers. half the
proceeds to be destined for the extern
half to cancel the Governments short
term loans.
Chicago, Milwaukee and st. Paul
Railway applied for authority to issue
SIS, ,0SJ 900 per cent equipment trust
certificates. Proceeds will be applied to
purchase Of twenty. five Mikndo locomo.
tives, $500 box cars, $500 coal and 800
automobile cars.
Federal Judge Booth. at Minneapo-
lis, decided the 500 dividend case in
favor of common stockholders entitled
them to 2 per cent semi annual divi-
dend declared March IL to be paid out
of undivided surplus accumulated be-
tween 1909 and 1919.
-Rollin G. Bortle. of the National City
Company. New York City, has been
New York. Mr.. Bortle is graduate Of
the University of Pennsylvania and was
formerly manager of the Philadelphia
Office Of y. W. Halsey & Co.
Beaver Valley fractions statement
for May shows gross earnings of S54,-
Cal. a decrease of S2575, and net after
taxes of S11 .461. an increase of S15,-
POI. Gross earnings for the five months
were S2G2. sos. a decrease Of S57 ,T5,
and net after taxes $50, ,5o2, an increase
Of S26 $50.
Minneapolis and st. Louis gross
operating revenue for May totaled ST.
of S1.O54.376 were deducted. leaving
net revenue of S74. 1896. Deficit after
consideration of non-o operating income
and deducting gross income including
fixed charges was S212 .4o4.
Stock ckholders Of American Metal |
Company Mt n special meeting called for
that purpose ratified the change in
classification Of the company's 25O,-
600 shares of 500 par value each into
20 900 shares of I per cent cumulative
preferred stock. 500 par. and 2OO. 900
shares Of common stock. 500 par each.
Now Orleans. Texas and Mexico has
apnipd to Interstate Commerce Com
mission for approval of contract en-
tered with Dayton Goose Greek Rail.
road for purchase Of latter for 81 900.
600, of which $3.50 900 is to be in cash
and $3.50. .OG0 in New Orleans, Texas
and Mexico 8 per cent adjustment in
come bonds.
Stockholders Of the Tobacco Products
Corporation and of the United Retail
Stores Corporation will meet tomor-
row to ratify proposals made by the
directors of the two corporations for |
merger through the exchange of stock.
Sufficient proxies have been received by !
the arrangements of the corpora tiOnS |
TO insure the success Of the plan.
Indications are that the summer
months will witness decidedly easy rates
for all classes of money. 1t would not
be surprise. according to bankers, II
call money rates dipped to around IA
and per cent. In the spring of 1915
the New York Federal Reserve Bank
had 4 per cent rediscount rate and
call loans were quoted around IL and
> per cent.
Tho Texas and Pacific Railway in the
year 1921 earned a net income Of So
740.723. which. after charges and taxes
and allowing for D per cent interest re-
quircments on second mortgage income
bonds. was equivalent to $3.50 n share
on the S3S,755, ,110 capital stock. In
1920 the company reported net cor
porate income of S2,9J1 ,914, or the
equivalent of 81 43 share on the stock.