Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-06-08

The Bank Of England's minimum dis.
count rate remains unchanged at A per
cent.
Reginald d. Heard, of Yonkers, N.
Y. has been admitted as general part.
ner in the firm Of Edward B. Smith 4
Co.
The Seaboard Air Line Railways
1921 report shows net deficit Of $224,
2O0 after taxes and charges, in contrast
to q net income Of 1921 ,O88 in 1921.
Consolidated Gas Company announces
it will redeem on September 1 all Of its
fve-year secured z per cent convertible
bonds outstanding at that date at 1924.
The Commonwealth Power Railway
deem on July l at 101 and interest
ali its outstanding Z per cent secured
convertible gold bonds, due on May 1,
1923.
Coal output Of Great Britain for the
week ended May ~ was 4,829, 600 tons,
which Is 4 per cent less than for the
previous week and per cent less than
recent record production for the year OF
more than 3, 5,180, 900 tons.
The average price Of the twenty
active industrials declined "A per cent
yesterday to 95.16, making an average
net decline Of 1.21 per cent since last
Saturday. The twenty rails declined
30 per cent to "a. .46 and which ii 1.35
per cent decline since Memorial Day.
Interests identified with Columbian
Carbon Company and Atlas Powder
Company have formed new corpora
tion to be known as the international
Carbon Corporation, with $500, 900
8 per cent preferred stock and 300, 900
shares Of no par value common stock.
The VipOin{o amI Woskoe,. ual 4
applied to the Interstate Commerce
Commission for authority to issue and
sell 81 500, 900 Of its 8 per cent bonds,
and the Virginia Railway, which owns
the Virginia and Western, asked au.
thority to guarantee payment of the
issues interest and principal.
by the purchase Of slightly over
2.OO0,0 900 shares Of a total capitalixa-
ton of $500 900 shares of 81 par
value. the Pure Oil Company, through
its subsidiary, the Oklahoma Producing
and Refining Company, has acquired
the controlling interest in the Okla.
homa Central OIL Company.
Burlington and Quincy
Railroad reports 146, 421 cars handled
during the month Of May, against 128,.
sS5 for the same month last year
1O1 ,991 were loaded on system, com.
pared with 92,O81 and A, 4SO received
from connections, against "a, ,784. All
commodities showed good Increase
except coal.
"A payment of $592, 4s7 to the Mime
apolis. St. Paul and Sault Ste. Marie
Railroad was authorised by the Inter.
state Commerce Commission in final set.
tlement Of accounts between the Gov.
ernment and the corporation arising out
OF the guarantee against losses in rail-
road operations in six months of 1920.
The road has received IS, 127 ,287 under
the guarantee.
Reports issued by the car service d.
vision Of the American Railway A.
ISOLATION show that loadings OF reve.
nue. freight for the week ended NAV q
totaled S21 ,121 cars. compared with
!02, ,450 cars the previous week, or an
increase Of e, ,682 cars. This was also
an increase of 25, ,7S8 cars over the cor.
week last year, but a de.
crease Of n ,04S compared with the same
week two years ago.
ALI this talk about a railroad strike
is newspaper talk in the opinion of
the Erie RailroaJ/ II don't believe
there will be a strike, because I don't
believe that the men have lost their
Senses" he declared. "They must zee
that in all branches Of industry there
have been recessions. OF course, Il ia
not pleasant to have incomes. salaries
or wages lessened. but this distressing
process has been general"
The railroads Of the United States
u April had net operating income Of
e5O ,256. 800 which, on an annual basis, =.
return Of 1893 per cent
On valuation, according to complete re-
ports filed with the Interstsfe Com.
merce Commission. In Apri, 1921.