Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-05-10
WALL STREET GOSSIP
RY MONITOR.

NEW YORK. May 10.-United States
assumption that today's untitled tonna ge
report will show very substantial in
crease. Estimates vary all the way from
100000 TO 100000 tons, because of the
uncertainty as to Just how many orders
were probably refused because Of the
coal strike.
United States Realty Is still holding
strong. and yesterday reached 90. a new
high for the year. General factors en-
tering into consideration on realty are
decidedly favorable and 1t is expected
that earnings for the current year will
be very good.
Wall Street is not especially dABrhed
at the attack launched upon the |omin z
independent steel merger by Senator La
Toilette. Inasmuch ~ the courts Of the
land have finally decit.ad that the United
States Steel Corporation does not con-
stitute monopoly, Il Is hard to see how
a smaller combination composed Of com
petitors of the United states Steel Cor
poration and banded in an organization
patterned closely after that of the lead
Ing interest, would be violating any
trust law.
There has been no further reports up
On the general situation in the in
dependent merger but some of the MEM
bers OF ne inspection party are due back
in New York tomorrow. and i. is con
sidered probable that the end .. this
week will see more definite details as to
the PLAN
According to story in circulation here
emanating from Cleveland President w
c. White has denied current rumors that
White Motors was considering con-
soiidating with another truck company.
ma inn Nr So 81,
business was very good, and that 9ST
orders were received In April as com
pared with 640 for the same month 8 yea
ego.
After rather desultory start, the rail
stocks picked up in activity in the last
hour, with New Haven and other moder-
ate-priced stocks assuming the lead. The
by the failure of the Interstate Commerce
Commission to act upon the pending rate
cases. and IL is now believed that the
commission may be holding back their
report so that it may appear at about the
same time the Labor Board decision
on the wage questions.
Chicago Pneumatic Tool is holding CON
based upon expectation of largely in
creased business. The output Of the
Pneumatic Tool Company should natur-
ally benefit greatly by the resumption
of operations in copper mining, while
the nation wide increase in building Is
also making for very good demand
With railroads placing much larger
orders for equipment Of all kinds. another
outlet for Pneumatic Tool is found, and
traders who are following the long side
here are decidedly optimistic over the
outlook.
The Kayser Company, which recently
sold 100000 of per cent bonds is re
tn no orc IN
creased operations with this new money
At the present time, the company has an
annual output of 3oe,oGo dozen pairs OF
silk hose, and 1t is believed that this
will be doubled which will make 1t the
greatest producer of silk hose In the
world. 1t is already the largest man
ufacturer of silk gloves.
A side light on current conditions In
the tire and indirectly in the motor In
dustry comes from Akron. where Ii is re
ported that several of the leading man.
ufacturers of rubber goods are working
night shifts. Companies are competing
for labor, and at the present time such
few men in Akron as are unable to OBJ
tain employment are those who are uu-
skilled In any line of tire work.
Corn Products ran into burst OF
profit taking and sold below par, al
though the closing rally carried the
stock back to 10Oi2 at which point II
showed net loss OF one point. In view
of the current operating conditions In
Corn Products, 1t would be difficult to
ascribe the selling furry to anything
more than a proft-taking move.
American Safety Razor net profits il
1921 amounted to $154,67s, or at the rate
of 10 cents per share on the OUTSTANDING
stock, compared with 43 cents pei
share in 1920.-Copyright, 1922, by Pub
lie Ledger Company.