Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-04-07
FINANCIAL BRIEFS

600 bearing ) per cent at oG Is being
underwrittcn in London.
A membership in The Chicago Board
of Trade has been sold for $1,000 net,
to the buyer. ID. e. Carr has been
elected member of the board.
The average price of the twenty ac-
tive industrials advanced O.13 per cent
yesterday to $3.50. while the twenty
rails advanced 1.23 per cent to 81: IS.
was made on the floor
of the Montreal Stock Exchange that
4. A. Wilson 4 Co.. one of the Oldest
brokerage houses in the city, had iAs-
signed.
keystone Tire and Rubber Company
reports for the year ended December 81
last gross loss on sales of 500. .S!D:
deficit after expenses. S575. .6G3, and net
less after interest. taxes. ETC.. S6IS,-
OBJ.
Superior Steel Corporation reports
shipments in March of S35S.214. as
compared with &2GO.369 in February.
n gain of 81 per cent. Cash on hand
in excess of ST 100000. Bills payable,
none.
Production Of crude petroleum In the
United States for the week ended April
/ averaged .4G2 SD barrels daily.
against 49,. 100 barrels in the pre-
vious week and | ,2G3.31O in the corre-
spending week last year.
Bids for S15, ,O0O. 900 thirty-year >
per cent bonds of the Province OF On
tario will be opened on April II. The
bonds are dated April /. mature in
1862, and are payable, principal and
interest. I'm New York or Canada, ut
the option of the holder.
Stockholders of WHY'S Overland
Company have been called to special
meeting to be held at Toledo April n
to consider proposal to issue SlI.1OO.-
600 notes or bonds to mature not later
than December /. 1923. Proceeds of
the sale of new securities will be us"d
to liquidate bank loans and provide new
working capital.
Strength in the stock of the New
York. Ontario and Western WedncS-
day was accompanied by rumors that
the New York Central had mad" the
New Haven an Offer for its majority
interest in the road. An executive Of
ficcr Of the Central states that the
runor has no foundation in fact
The Union Pacific Railroad will
spend approximately 500. .OOU.OOO this
year for additions and bettcrmcnts. new
equipment and short line extensions.
Robert :. Lovett. chairman of the road
announced yesterday. Tho entire
amount will be chargcabe to capital
account and not on account Of main
tenance.
Charles p. Mohan. former assistant
cashier. has been made cashier Of the
Drovers and Merchants National Bank.
succeeding Earnest II. Patton. who died
late last month. Leslie r. IIalbert was
made assistant cashier. \ new office
or third vice president was created to
which John p. kolb was elected.
Yesterday stock market established
another record. both in volume of bust
ness and in number Of stocks dealt in.
Total sales for the day were l.J93. $50
shares. the largest since April 20. 1920.
when the amount waS .SS2,413 shares.
Inc number of separate issues changing
hands was 44t. new high record, the
previous highest being 40.
The Illinois Central Railroad secured
permission from the Interstate Com
merce Commission today to issue cvi-
dences of Indebtedness to the Pullman
Company for Sl.74S 900 as part of
car purchase transaction. The rail-
road intends to lease and buy on time
payment. according to the authorization
900 refrigerator cars.
Operating profit OF tn" Mcintyre
Porrupinc Mines, Ltd, for the year
ended June so. 1921, totalcd ST.,
O33.9SS. while net profits. after making
all deductions. were SS1J.J3O. The
corporation millcd lT1.3lG tons Of ore
during the year. of which the value por
ton was Sl1. 81 and the recovery per
tone Sll .OS. The balances sheet shows
current assets Of $50 99I aud current
liabilities of S303. so.
In statement regarding In" prob
able expenditures that would be- made
by the Union Pacific Railroad for 1920.
Judge Robert $. Lov"tr, chairman of
the Executive Committee, said tha, the
approximate amount nt SO. 600 900
would be spent for additions. better
ments, equipment and short line eX-
tensions. 1t was pointed out by Judge
lovctt that all Of this amount Muuld
be chargeahle to capital account and
not to maintenance.
Report of Allied Chemical aud Dye
Corporation for the year ended Dcccm.
ber 81 shows net income of S1.Gii HNg
after charges, inventory adjustments
and Federal taxes, equivalent. after
preferred dividends, to $2.21 share
earned on the outstanding 2.lGO. 40
shares of common stock Of no pnr value.
This compares with net income Of SIG
17o.H31, or S6.33 share earned ON the
>, 3.'iJ5 shares Of common stock in the
previous year.
.-Atchison' decrease In gross IN Fob.
ruary of $1,000 900 compares with ~
loss Of about $1,000 600 in January.
the first month in which the 16 pcr cont
reduction in hay and grain rates and
10 per cent reduction in other farm
products rates went into effect ON West
ern rondS, The r0npanv's officers
ascribc the February loss Of rcvcuuc f.
rate reductions and smaller passenger
business. February freight revenue de-
g incd 81 4Sl 1863. and passenger earn.
ings SS+23SI.
Large increases in tho Offering Of
fore gn bonds. especially Government
bonds. in the United States In the last
few months were reported by the Fed
eral Reserve Board. From January |
to March II the total Of foreign dollar
!oans issued in this country was S263.
mO, 600, while during the year 1871 tho
total was Sil0.3O3 600. Ot ,h, total
this year, S21l 200. 600 rpnro, cntcd far.
"ign Government and muniripal loans.
whie S3l 100000 wcrc corporarior
loans.
of Magma Copper Company
have authorized an issue of $4,000 ,OO0
ten year per cent convertible deben-
l. -. N