Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-06-16
FINANCIAL BRIEFS

7
British Dyestuffs Corporation in re-
shows net loss Of ki .OO8, $50.
The New York Stock Exchange has
stricken from the list Eastman Kodak
Company common stock, 500 par
value.
The average price Of the twenty ac-
tive industrials declined 1888 per cent
yesterday to O1.2j, while the twenty
rails dropped 81 per cent to 81. %.
Norfolk Southern has applied for au.
thority' to issue $4,000 Of 1O.year
Q per cent equipment trust or condi-
tional sales agreement notes, dated May
The total production Of crude oil in
the United States during the week
ended June 10 averaged 1,459, 100
barrels daily, which compares with
I ,45O, $50 barrels day in the preceding
week. -
The Remington Typewriter Company
has reduced its bank loans to $3.50, 900
from 81 $50 900 since January 1. 1t
has also by cash payments and trading
reduced its other outstanding obliga-
tions by S104, 900.
Stockholders Of Durant Motors, Inc,
will be asked at meeting June ~ to
authorize an increase in capital to o.
OOO. 900 shares no par common stock.
Present capital is 1000, 900 shares, Of
which about 100000 shares are out
standing.
was granted authority to issue $009, 900
of 8 per cent first mortgage fifty year
gold bonds. which are to be delivered
TO the Virginia Railway Company in
reimbursement of advances made by II
- .lo &,r,pipol coupony
The award of $3.50 900 bonds Of
the city of San Juan, Porto Rico, which
was to have been made yesterday, was
postponed until today owing to a dis.
pute among bidders over n technicality.
The issue is divided into $2.S0O, 900 3
per cent public improvement bonds and
$3.50 900 5 per cent school serial bonds.
The Protective Committee represent
ing Interborough Metropolitan An per
cent bonds announced an extension of
time for holders Of these bonds to de-
post them under the plan Of readjust-
ment of the Interborough Rapid Tran
sit Company and Manhattan Railway
Company. The date terminating the ex-
tension was not made public.
The annual report Of the Pierce Oil
Corporation and subsidiary companies
for the year ended December 81, 1921 4,
shows net loss Of $5,535. $50 after
charges and inventory adjustments.
This compares with net income of
So. .429.S1S. equivalent after preferred
dividend requirements to $2.34 a share
of S25 par value, earned on the $23,
TAI .S31 common stock in 1920.
"Details Of Electric Alloy Steel and
Atlas Crucible Steel merger are being
| worked out, following formal approval
, by directors. Financial plans are un-
der consideration at conference this
week.
The Republic Trust Company an
nOunces that recent offering of 500.
600 of additional capital stock has been
fully subscribed, making the total capi-
! tai $500. 900.
The Texas Company is planning tc
call for retirement on August 1 its out &.
standing S22. 700 900 Z per cent notes
which are callable at 101 and interest
No new financing will be needed to
eliminate entirely the company's funded
debt. The original issue amounted to
S35, 200, 600, put out in March, 1920
| for a period Of three years. All but
500. 700, 900 previously have beer
called.
Secretary Mellon announced that
subscriptions were closed at noon yes
terday for the 3% per cent Treasury
certificates Of Series TJ-1923. dateC
June Is. 1922. and maturing June Is,
1923. Preliminary reports received
from the Federal Reserve banks indicate
that subscriptions to the offering. which
was Of $3.50 ,00O. 900, or thereabouts
aggregate about $3.50, 900, 900. All tn,
Federal Reserve districts have reported
oversubscriptions of their quotas.
The first and second mortgage bond
Of the Cincinnati. Newport and Gov
ington Railway Company fall due OF
July I. total outstanding $3,709, 900
face value. To retire this issue new
bonds will be issued to be known a
the first and refunding mortgage bonds
bearing 6 per cent interest, payable il
twenty five years and secured by :
mortgage on the properties and fran
chises in Ohio and Kentucky. A tota
of $4,OOO.00O Of bonds will be issuec
Immediately.