Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-06-01
FINANCIAL BRIEFS

COuHt Tdte TeIlluluCu uuCuuuBcu uL
per cent.
For the first time since date Of issue
all Liberty Bonds sold at par or better
yesterday.
Preferred and common stock Of In
ternntional Harvester Company is held
BY over 1880 different stockholders. !
The average price Of the twenty active |
industrial stocks declined O.7S per cent |
yesterday to 9j. SO. while the twenty !
railroads declined 1.30 per cent to 1888.
-Advices from Panama say the re.
ceiver for the Panama Banking Com
pany. which closed it's doors two months
ago. ago. AM announced that 80 psr cent on all
deposits Will be patd on June 10.
Completion Of the, steel merger ap.
pears to be awaiting only ratification OF
consolidation plan by 1n'and Steel di-
rcctors. Inland board met yesterday,
but up to late ut night no determine.
tion had been arrived at.
Reports issued by car service division
| Of the American Railway Association
showed that on May % there were 5O4,.
702 freight cars idle, compared with
512.10G on May IS, or decrease OF
| 74D4 cars.
The municipal Council of Barcelona
has under discussion the issue of loan
Of So, ,0OO, 900 pesetas for the purpose OF
| an electrical exposition. The issue
price will be %. 40. at q per cent inter-
est.
The first and second preferred stocks
of the American Stores Company. called
for redemption June I. will be stricken
off the regular list Of the Philadelphia
Stock Exchange at close OF business to-
day.
Southern Railways April figures
showing gross Of SiO. .401 los. an in
| nf Hlu 1A2 rOrrCSnnndinQ
month Of 1921. an increase in net oper-
ating income In April Of S530. go over
the S90S. 461 of April, 1921. are en-
couraging.
Greene Cananea Copper Company
for the year ended December 81 shows
deficit Of 81 .46S .O91. after charges and
taxes. This compares with surplus Of
$500 .O7S. equal to Slip share earned
OH $50. 900 900 outstanding capital
stock. in the previous. year.
A group Of nine bnnks in the twelfth
Federal reserve district with combined
resources approx imating S6OO.OOOOOO
perfected plans for formation Of four
Joint stock land banks with initial ag.
gregate lending capacity Of SIG. .5W.OU
TO serve farmers of Arizona. California,
Oregon. idaho. Washington and Utah.
The Alabama Power Company and
subsidiary companies report operating
revenues amounting to $4.629.41I for
! 1921, and net income. after expenses
and miscellaneous deductions. OF ST.
013. .832. Allowing for preferred stock
dividend requirements and interest, the
report showed an amount transferred to
surplus If S151 ,91O.
One. of the largest public utility is.
sues of the year outside Of the telephone
group Is announced today by the Ma
fional City Company and Bonbright &
Co.. who are offering S12.150.O 900 Ten.
nessee Electric Power Company first and
rcfunding mortgage Series 6s. due
1947. Offering price is 06 and inter-
est. a yield basis Of better than $50 per
cent.
The Standard Oil Company of In.
diana has notified it's employees that
purchases of stock under its stock pur-
chase plan will cost SS4 share for the
twelve months from April | to March
81. 1923. During the preceding twelve
months. the first under which the stock.
participating plan was effective. the
offering price to workers was SI3 a
share.
--Loadings of revenue freight for the
week ended May 20 totaled 702. .459
cars. an increase Of 1J.1OO cars. COM
pared with the preceding week. and 21.-
46S over the corresponding week of
1871. The May 20 figure was II de-
crease Of 40. 1G5 cars. compared with
the same week of 1920. according to
the American Railway Association S
statement.
--Transactions in stocks on the New
York Stock Exchange for the month Of
May aggregated 2S.911.2J1 shares, a
decrease of 1,55G.070 shares. as COM
pared with the previous month. but an
increase of 11.S79.10 shares as COM
pared with the corresponding month last
year. There were seventeen million
shares on the 10Th. the largest of the
month.
Railroads which own control of other
railroads are entitled to purchase al OF
the outstanding stock Of the subsidiary
corporations without Obtaining Federal
authority, tho Interstate Commerce
Commission ruled incident to dismisSing
the application of the Cleveland. Gin
cinnati. Chicago and st. Louis Rail
road for permission to purchase all out
standing stock Of the Peoria and East
crn.
Tentative reports received by the In
terstate Commerce Commission from
1877 class one railroads showed that in
April those roads had net operating
income Of $50 239 900. compared with
$21 .SS6. 900 for the same month last
year, In the light Of these returns it is
estimated in some quarters that the
April net for all the roads will not OK.
ceed S5O. 900 900. or at the rate of only
about 3ls per cent on the property in
vestment
Production in April Of the Mother
Lode Coalition Mines Company was
2.O21 .6Ol pounds Of copper. compared
with 2.Ol7 .O35 pounds in March, g.
OIL .a5l pounds IN February and L.
915. .SG3 pounds in January. n total Of
s .O26, ,45O pounds for the first four
months Of 1922. This isl production
record in the corporations history. !
High grade ore in April assayed 81 ~ !
per cent copper, compared with 60 O.
per cent in March.
The April report Of 1871 of the n0l |
class railroads of the country, issued !
by the Bureau Of Railway Economics. /
shows net operating income amounting !
to S3J. $50. 900, compared with S2l,-
S66. 900 for the same roads during April, |
1921 Total operating revenues for the
1877 roads amounted to $297 300 900. a |
decrease Of / 6 per cent, compared with |
the previous year while operating ex-
pcnses totaled $40 ,533 900, or "A rcduc-
tion Of II per cent froin the same month !
year ago.
An issue of SO, 900 900 prior lien and |
refunding mortgage forty.year sinking
fund gold bonds. series B. carrying a !
-, per cent coupon and due January |,
1Of1 of the Cincinnati Gas and Elec- |