Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-05-15
WALL STREET GOSSIP
By MONITOR.

NEW YORK, May 1L.-Although ac-
tivity in the steel stocks featured trad
ing in general Saturday. some Of the oils
and industrials were inclined to follow
suit. Sinclair Is holding well, and 1t is
generally believed here that current earn
fngs show very good improvement over
the same period year ago. nile TINS
company does not issue quarterly reports.
1t is believed that for the current quarter
Sinclair should earn from 80 to 10 per
cent as much as was earned all during
1921
The Cranky Consolidated deficit for
1921 was only S2S7. 162. as compared with
S6s7 oil in 1920. Developments in Gran
by are much more favorable. and 1t Is be-
lteved that new financing in the near flu
ture will serve to put the company on
a better footing.
President J. A. Campbell Of the Youngs-
town Sheet & Tube Co., Is quoted In a
Western dispatch as stating that the
Lackawanna- Bethlehem merger will not
necessarily affect completion Of the six
company merger.
Wall Street is filed with steel merger
stories and rumors these days, and Fem
Seaboard was in demand. the buying
being based upon a rumored merger with
another independent company.
ne company reports LOT the
fiscal year ending March p. including
earnings of Burns Brothers Company Of
New Jersey. Burns Brothers OF New
York and William Farrell & Son. In
corporated. show net sales amounting to
ISL 1913. $50. as compared with $40, Al .29S in
1920 However, the Farrell earnings are
not included in the 1920 total. Gross
profits for the year were s.. 22S,003. as
against S3.24e,345. There was a surplus
Of s6l9,051. compared with $s5i,9S1.
The market is looking TO the Wick
wireSpencer Steel Company to complete
the Bethlehem system. This issue was
one CT the most active of the steels. AL
from profit taking near the close. Other
steels which continue strong and active
on merger talk are Vanadium, United
Alloy, Replogle, Crucible and some Of
the equipments.
The Toledo. Peoria & Western Rail-
road report for 1921 shows gross earn
ings of 81 1920 A deficit of s2o2. $40
was incurred which. after including rem
tails, interest. etc. made for a gross de-
felt Of $507, 654 for the year.
Packard Motors is reported to have re-
tired 81 100000 OF its ten-year notes, re-
ducing the amount now outstanding to
ss250OO0. Packard is benefitting from
the renewed demand for motor cars, as
are all other motor companies. and In
addition to the retirement of some of it's
own bonds. has increased its deposits in
Government securities, making for a much
sounder position.
Oils are beginning to show a renewal
of activity following the repeated In
creases In gasoline prices throughout the
country. especially in the Middle West
Official reports from Washington to the
effect that the present gasoline situation
indicates further advances In the very
ft,etr H.. -
high as a total of four cents by the
middle of the next month, bear out pri-
vate reports.
Columbia Gas reached ssh and closed
at the high for a net gain Of nearly a
full point. This company earned about
$500 per share in 1921 and 1t is be-
lieved that earnings for this year should
be much better as n result of increased
gas rates in the company's territory
For instance. the first quarter of 1922
showed an increase of % per cent In
gross earnings, while the net after all
fixed charges and taxes equaled So 66 per
share for the quarter, or at the rate Of
S14.64 for the year.
Phillips Jones Is not concerned with
the Van Teusen International Company.
which has been just formed to control
the foreign marketing and sales rights
Of the new Van Heusen collars. Phillips
Jones is not In position TO enter for
eign fields. and therefore the Van Hensen
interests, which control the new collar
patents will handle all the foreign busi-
ness. 1t Is reported that the Van Heusen
sales by Phillips Jones are showing large
increases, and the company Is running at
full capacity, which has been Increased
30 per cent since the recent installat ton
Of new and improved machinery-copy-
right, 1922, by Public Ledger Company