Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-06-19
FINANCIAL BRIEFS

A reduction In the discount rate for
the San Francisco Federal Reserve dis
trict is unlikely before July /. 3f
The average price Of the twenty &C.
tive Industrial stocks advanced O.34 per
cent on Saturday to 01 As, while the
twenty rails advanced 0.04 per cent to
S1.05.
Charles II. Bridenbaush, vice presi.
dent Of the Northern Cent.nl Trust
Con- pany, has been elected q member OF
the Board Of Directors Of the L. H.
Gilmer Company, Of Tacony.
Chicago and Eastern Illinois Railway
final settlement with the Government
for guaranty period is $728. .983, making
total thus far received 50 1923 1888, fH.
cluding 81 900, 900 awarded about .
year ago.
Directors Of the De Beers Consoli.
dated Mines Company sag. that. al
though demand for diamonds has i'm.
proved, they are unable to declare divi-
dends either on preference or deferred
shares.
Many brokers in New York are Dor. :.
rowing money good for two weeks at
31a per cent. This money Is loaned In
the call market, bu with the UNDER
standing such Accommodations will not
be called within two weeks.
New York, Chicago and st. Louis.
familiarly known as Nickel Plate, now
under the wing Of the Van Sweringen
interests, Of Cleveland, promises large
earnings for its stocks this year, judE.
ing from the results Of the first four
months.
--Davison Chemical Company reports
for year ended December 81 the con :
solidated statement Of Dawson Chemi- =
cal Company and Sulphur and Phos.
phate Company, which shows deficit OF
SAIL 1898 after interest, depreciation
and reserves. This compares with net
income of 1922 ,802 in 1920.
No underwriting by Booth Fisheries
is likely, as the sale Of the 81 500 900
has already been matured. This. with
recent conversion Of inventory, should
put the company in position to sell to
an underwriting syndicate an issue OF
twenty-year per cent first mortgage
bonds, of which $5, ZOO, 900 will prob
ably be authorized.
Royal Dutch Company annual re-
port proposes a dividend of 81 per cent.
Profit Of company in 1921 amounts to
1854 guilders in 1920 "a guilder at par
equals 4O.2 cents). New account opened
with balance in favor of company Of
1.16S,573 guilders. Production OF
Corona Company in Mexico in 1921 was
three times that of 1920.
Bankers have evidently been using
reaction in stock market to accumulate
stocks and bonds. Compilation of fig
ures from statements Of 800 leading
banks show that for the week ended
June there was an increase in Sc
curities owned Of '$112, ,373, 900. This
Is the largest increase in any week
since deaation process began, and IL
about IS per cent of ten months gain
last year.
The Royal Trust Company, Mon
treal, and La Societe administration
Generate. as trustees, announce that
Canada Steamship Lines has elected to
redeem and pay on September 1, 1922,
ten-y year serial bonds, series 2 to 10,
inclusive; series 2 to each for ag-
gregate principal amount Of $500 900
par value. issued and outstanding at
redemption price called for Of 1031a and
accrued interest.
During the fvc months ended with
May issues OF new securities in the
london investment market amounted to
f146, ,4S5 ,23S. as compared with
Esq, 0,SOO,069 for the corresponding Pc
riod Of 1921. OF the new issues during
the five months Of the present year
f53 ,959,072 represented loans on Gov
ernment or private enterprises in the
British Islands, f40 .432. 2.O41 belonged
to the British dominions and f51, &.
O94, 125 to foreign countries.
-Newhall. Gross & Diffenderffer has
compiled an interesting folder on the
United Gas Improvement Company
which should be read by every owner
and prospective owner Of United Gas
Improvement stock. The circular. while