Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-05-04
WALL STREET GOSSIP
BY MONITOR.

NEW YORK. May 4-American Bosch
Magnetic is another stock which is bene-
filing by the current improvement in the
motor industry. According to reliable in
formation the company has shipped So ono
sets Of starting and lighting systems so
far this year. as compared with a total of
$1,000 sets for the entire year OF 1921.
Shipments are now going forward at the
rate Of 10000 systems per month While
buying of the stock has not been especial
" aggressive the undertone has been
veil maintained and the issue sold up TO
43S4 yesterday.
-PesPite denials OF persons most init
mately concerned with The reported Royal
Dutch Russian oil deal, further reports
emanating in Amsterdam tend to the be-
lief that these denials are technical and
are based on the fact that negotiations
have not been actually completed 1t is
admitted. however, that negotiations are
under way.
The AIidvale Steel first quarter showed
a deficit of 2.S27. as against a deficit
of SL37o,TS2 for the last quarter Of 1921
The first quarter in 1921 showed a deficit
OF S1,395,202
Sinclair Consolidated ia holding its
place in the oils in spite of the Teapot
dom este controversy. This company has
been Oenehtlng by the success of Mexican
Sea6Oard. Sinclair owned fOur-ffths OF
the total issue OF SI0.OOO.O0O Of the Mex
lean Seab0ard I per cent debentures. and
as the latter company has retired 81
100000 of these debentures since January
Sinclair has received 100000 in liquid
cash. At the same time Mexican Sea
board has paid 81 per share far this
year. and as Sinclair owns 25O.0 shares
u the stock, this has meant an addi
donal $50 600 in cash for the company
Texas Company is again showing signs
IF activity. and is Joining with the gen
eral movement in the oil group here
Texas Company is believed to have very
large stocks and current advance in re-
fined oil prices mean automatic increas Use
in value for these stocks. At the same
time IL IS believed in the market here
die West is well in hand. and that fur
Their advances may lie expected in the
near future. This sentiment forms part
nf the buying motive for the general oil
list. The fact that two large estates.
with considerable holdings Of Texas
Company stock. which had to be sold.
have now been completely lfquidated, IS
anoter optimistic factor concerning Texas
Company.
Industrial Alcohol is meeting with
fair demand from bargain hunters who
are inclined TO chance the future 1t is
believed that a newly perfected device for
conversion of alcohol into commercial fuel
should be successful. If this line Of
thought should prove correct. industrial
AlcOh0l's chances Of again entering the
divided class would naturally be much
better.
Loading Of revenue freight totaled
714.0SS cars during the week which ended
April -. compared with 706 713 during
the previous week, or an increase of 1875
cars, according TO reports just received
from the carriers by the car service di-
vision Of the American Railway Associa-
ton This was an increase Of 9.456 cars
over the corresponding week last year,
but a decrease of 3.eS9 compared with
the corresponding week in 1890
The Western Pacific report issued
shows a net income Of S2.S0S.5S3 for
1921. as compared with S2.416.212 for 1920.
In explanation OF this showing, Presi-
dent Charles VI. Levy calls attention to
the fact that in arriving sc tAs net for
1921 the company took into account as
cooperating income, rentals received
from the government amounting to So
S15.90S for the period from Jan. l. 1918
70 Feb 20. 1920 operating expenses of
S2675S4 and various adjustments amount
ing TO S20.701. making an operating ex-
pense OF S26S 2S6 all for the control Pc
Rod. InasmUch as these figures par-
tanned 10 operations for a period other
than 1921. attention is called to the fact
that an elimination OF these items would
leave $4S60S3 as the true addition TO
surplus for 1921 operations
The market is full of rumors regard
ing possible purchases by the railroads
of equipment and locomotives, and so
far these reports have been borne out
by exceptionally good orders in the vari-
Gus fields. In the equipment circles here
il is believed that the PENNSYLVANIA
should soon be in the market for 10000
cars. with NJ, K. & T. Erie. Southern.
Chesapeake & Ohio and Wabash also
looking for equipment.
Strength in Freeport Texas was due
largely TO the sharp rise in the per
cent 1887 bonds. convertible into stock
At the rate of fifty eight shares for each
81 900 bond The sale of these ponds
was quite successful. and today they
rose from their issue price cs par to
113. The prospects of Freeport will be
considerably enhanced by the develop
ment Of the Hoskins Mound sulphur
Properties. which is taken over from the
Texas Company through the proceeds of
the sale of the issue of S4,000,000 of :he
4hds.-Copyright, 1922, by Public
badger Company.