The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-07-11
FINANCIAL NOTES

Brazil Is year non-callable Z per
cent bonds due Jan. /, 1946, was Of
fered today by Joseph Walker &
Sons to yield about eA per cent.
Plans and specifications for new
buildings in Brooklyn for the week
ending July 8 called for 233 new
structures estimated to cost 81 ,343,-
035, against $2,sss.4e5 the previous
week.
The issue Of ;2s, ooo,o 900 New
York Central 5 per cent bonds pro-
ceeds from which will be used to
retire the $25,000,000 collateral
trust rs of the company which
have been called for redemption
Sept. 1, were offered today at 94lla
to yield $50 per cent by a syndi-
cate headed by J. P. Morgan & Co.,
and other New York bankers.
Rock Island car loadings for the
first five days Of July were off
l $50 from the corresponding period
of June but were 2,022 cars ahead
of the similar period in 1891. The
Northwestern loadings Of the first
six days of July showed decrease
of 2,048 cars from the correspond
ing period of June.
Reports from steel plants in the
Mahonig Valley indicate that ma
jority Of the plants showed q profit
for the second quarter of the year.
Recent orders to the American
Locomotive company include ten
167-tOh Mikado engines for the Chi
cago and Eastern Illinois road and
Fifteen 144-ton Mikados for the
Southern Railway.
General Motors Corporation sold
over $50, 900 cars through and trac-
tors in the second quarter OF 1922
and the income for the first six
months is expected to show operat-
ing profits Of between 330,000, 900
and $33.000,000 compared with a
net after depreciation last year of
s13, 900. 900.
Kelly Springfield Tire company
declared the regular quarterly
! dividend of 81 share on the pre-
ferred stock payable August Is to
stock Of record August l.
The Nipissing Mining company
in June mined ore of an estimated
value Of $193.a24 as againSt $751;
tbs in May.
International Nickel declared the
regular quarterly. dividend Of w
per cent on the preferred stock
payable Aug. ! to stock of record
July 20.
Coffee. was quoted: July .9.5S;
September 9.4S; December 9.42;
March $50. Raw sugar: July $50:
September 3.52; December 3.46;
March 3.25. Refined sugar: July
$50; September 6.65; December
6.S5.
Oaicials Of some Of the compa-
MES mentioned IS possible comp0n-
ents of . merger Of southern coal.
steel and iron concerns declared to,
| day thdt eastern interests had made
. Oyertures for taking over their
properties, but that negotiations
, have not progressed beyond efforts
to get them to place valuations on
their properties.
The market for Cuban raw su-
gars Is firm and demand is improv-
ed. Argentine has bought 1000
tons for July and August shipment
!! at prices which are approximately
I. ly one-sixteenth Of q cent higher
than previous sales in New York.
The L. & N. and Southern rail,
roads are reported from Birming-
ham to have agreed to publish
shortly especially low rates on Biz.
mingham iron to western points
The new rates, It Is reported. viii
be $4.22 . ton TO st. Louis, $3.24 IL
Louisville and $3.50 to Cincinnati.
The Pittsburgh Steel company
declared the regular quarterly div.
idend Of $1.5S . share on the pre-.
farred stock, payable Sept. / t.
stock OF record Aug. Is.
Indications ere that there will b<
no Increase In dividends ON thu
common stock Of Burns Brothers
until later in the year because q
! the uncertainty Of the coal strike
situation, although Il Is understoOi
orders on the books will tax deliv.
cry capacity when coal productions
lis resumed.