Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-10-20
NeUs for Investors

lNCUS IO kHCCCtUS .
---Get7nan marks we're quoted in London
, today at 10000 to the pound sterling.
The New York curb has removed
from trading Iocomobile Company
Iuckn"y Oil Corporation and Lincoln
Motors Company.
The average price of the twenty active
industrinls declined O.74 per cent yes
terday to 1O1 .26. while the twenty rail
roads declined O.2G per cent to D2.59.
Scriptiun books for $1,000 .OOO Missouri
Pacific Railroad first and refunding
mortgage & per cent bonds, offered by
them this morning, have been closed.
The directors of the Girard Avenue
Iite and Trust Company in addition
to declaring the usual semi annual divi-
dend of q per cent added S94 900 to
surplus. making that fund $200,00O.
OF the S1S.OOO.O0O at q per cent
loaned by National City Bank, Ne%
York. to the Norwegian Government
S13.OGO.OOO will be used for railroa;
construction and $5,0O0,OO0 for debt
service.
-Marcont Wireless Telegraph Com
pany. Limited. Of Canada. reports OPP
Grating profits of S12.2J3 for the year
ended December 81, compared with
$GS,9O3 in 1920. After deduction for
depreciation. etc.. surplus was de-
creased by $1j3.3G2.
The Minneapolis and st. Louis Rail
road has applied for permission to issue
Sl.JO0. 600 Il per cent equipment trust
E"trs. Th" carrier proposes to sell
notes at $50 per cent through stroud
\ Co.. Of Philadelphia. and Freeman
4 Co.. Of New York.
The Philadelphia Stock Exchange
gives motto" that all transactions IN
William tramp n Sons Ship and
Engine building Company shall be stool;
as the voting trust certificates are
stricken Oft the regular list Of the eX
change.
Daily average gross crude oil produc-
tion Ct the United States increased H.
totuling .j:nJ. 900 barre $. compared
with 1 | ,544 900 barrels for the preccd-
ing week. according to the weekly
summary Of the American Petroleum
Institute.
The White Motor Company has been
steadily expanding production and is
now at maximum of TIE year. ut the
annual rate Of 10000 trucks. The
company has reduced bank loans from
$4,000, 900 to $5On,O0 and has 81.
900, 900 cash on hand. No new tinnnc-
ing will be required.
The st. Louis San Francisco Rail
road was authorized today by the In
terstatc Commerce Commission to as.
sumo liabilities for payment Of interest
and principal of an issue Of $4,000, ,0On
in ) per cent equipment trust ccrtiti-
Gates. The securities will be sold to
purchase new rolling stock.
The Guaranty Company of New York
is offering S3.000.0O Island of Mon
treal Metropolitan Commission per
cent bonds. to be- dated November
1922, and to mature November l, 1912.
The bonds are not redeemablc before
maturity and are offered Mt 9G.33 and
interest, to yield about go per cent.
The Government Of Argentina has
received new bids from American bank
ing firms for loan Of about 500, ,OOO.-
900. it was reported at Washington.
\ loan Of S212 200. 900 rcrcntlv was
contracted by the Argentine Govern
ment with Blair \ Co... of New York,
but it failed of ratification by Congress
IF Argentina.
A feature Of tho bethlehem Steel Cor
roration new I per cent cumulative vot-
ing preferred stock is that it is non
rallable. The existing per cent pre-
fcrred, which part of the new per
cent issue will Supplant, is redcemabe
at the company's option Mt $115. The
total amount of new I per cent issue
to be outstanding is $77 ZOO. 900.
The Crowell Publishing Company has
increased its common stock from ~. 200
shares of no par value to 225 900 shares
of no par value stock and has distrib-
uted 1J0,O shares of new stock to
stockholders in the form of POO per
cent stock dividend. The capital re-
adjustment and distribution involved no
change in the. company'S preferred
stock, consisting of 12,50O shares of
500 par value.
Kuhn, Loeb & Co. have purchased
SJ,3OO.WO Missouri Pacific Railroad
Company first and refunding mortgage
y per cent gold bonds, Series 3D." due
February !, l939, similar to the bonds
or Series ~ at present outstanding.
They will be offered ut par and accrued
interest. The purpose of this issue is
to reimburse the company for capital
expenditures and to provide funds for
the purchase of new equipment.
-Bayuk Brothers. for the three months |
'nded with September, reports net earn
ngs from operation Of S2Dl ,591 This
IS after deducting charges for maintc-
nance anu repairs of plants and csti-
mated Federal tax, etc. Other income
,f Sl!3l brought total net income to
$500 .523. After allowing Sl0.3S2 for
Si3. 100 for preferred div. |
dends and S26,. 200 reserve for first pre-
erred stock. there remained surplus for
he three months of S2lO. .15l.
The General Motors Corporation on
october ., the latest date of record. had |
in the hands of the public |
Il, 400, 435 shares of preferred de- |
'rnturc and common stocks, according !
o statement from the corporation. !
)f this amount 1874 .SGG shares stood ,
u the names of investors and >. 4G3 800 ,
'hares in the names of brokers. The
'mount In the hands of brokers was
800, io6 shares on April 7, 1922. and .
,SsS, ,2hS shares on October 3, 1921.
The Public Service Corporation of .
View Jersey reports Il balance available
or dividends and surplus, as the re-
ult OF September operations, Of S353,.
,0l. This compares with S232 800 in
he corresponding month of 1921. Tota'
operating revenues of subsidiary COM
'anies were SO, 6,49J, 300. and operating
expenses. including fixed charges, taxes
'nd amortization, were $6, Ill ,389. For
ne twelve months ended September 30,
he balance available for dividends and
lrplus was $6,317, 500, compared with
1851 ,1O7 for the previous year.