Evening star., 1922-08-10
RAILS HOLD WELL,
DESPITE THE NEWS
Northwestern Roads Are
Most Highly Favored-Corn
Products Are Higher.
BY STUART p. WEST.

NEW YORK, August 10.-The finan.
cfal markets started in business TO.
day with the surface indications, Sc
far as they concerned the domestic
labor situation and the London repa->
than they have been at any time
That the railway brotherhoods might
be coerced into striking by the
threats of the coal miners and the
advice of their own leaders to desert
their posts should their lives be In
danger seemed altogether probable
from the mornings news.
Developments at the Cleveland coal
gathering were distinctly disappoint-
ing in view of the hopes held out as
late as Tuesday of A nationwide set
tlement. The latest information was
that If a settlement were reached II
would involve only a minority of the
bituminous coal mines of the cour-
try. Along with these developments
at home the cables pictured the Lon
don conferees more widely apart
than ever. even threatening the solid
ity of the entente.
Market Holds Fast.
Altogether, it was a greater trial
of the markets endurance than any
So ne result, however, was
quite the same as on previous days,
Some selling, obviously of profes-
Sional origin. came in at the out
set and both rails and industrial
shares fell away half point to a
point. Then the decline was checked
and seeing that no stocks Were be
ing offered at the lower levels. trad
ers set about bidding up various
carefully selected issues.
Northwestern Rails Feature.
The strength of the Northwestern
rails and of some of the lower-priced
non dividend payers was easily the
feature of the day. Great Northern
preferred. Chicago ard Northwestern
and Northern Pacific all went through
their previous highs. There was spe-
cial buying of St Louis Southwest
Texas and Pacific, Pere Marquettr
and one or two others Of similar
rank. representing roads which hav-
been doing so well in earnings that
resumption is distinct possibility.
Corn Products.
A large stock dividend is reported
to be the incentive behind the
Strength in Corn Products common
While there has been no official init
nation, Il was said that the cutting
of melon had been discussed infor-
mally by several directors. but not by
the whole board. Current operations
of the Corn Products Company are
showing earnings at the rate of ap-
proXimateiy Sl2 a share on the Junior
shares. the dividend on which is Sc.
Very little is heard regarding the
European operations of the Corn
Products Company. they are not men
toned in the company reports. but
those who know something about the
affairs of the company say money i
being made in the foreign branches.
St Paul freight loadinss for the first
five days of August totaled 2s-NNe
against 2i.321 a year ago.
Regular quarterly dividends Of - q
a share on common and $50 shsee
on preferred. both payable October
to stock of record August 81, Sste
declared by the Eastman Kodak Com
pany.
A net loss of s1.se1.2s2 after depre-
citation, charges. etc. for the five
months ended May 81. 1922, WAS re-
ported by the WHY'S Overland Com
pany and subsidiary companies to the
New York Stock Exchange today.
After charges and taxes the Missouri
Pacific shows deficit in its income ac-
count of 81 1,633.314 for the five months
ended May 81. 1922.