Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-09-28
Place Large Orders for Rails

ar,i,ititS on the part OF tue proicS-
sional traders.
Platc Large Orders for Rails
Thc placing Of largo orders for rails.
A. ,hc $40 prize. which on Octohrr ! is
rcpucrd by $43. has given the steel
trade what Is probably the most active
week in raiirond material that it has
ever known. says the Iron Agc.
AN the important lines in tho conn.
nv" this journal goes on to say. and
many smaller ones have either con.
tractcd for their 1923 rails wholly or in
large part or made reservations which
will become definite tonnages later. In
the Chicago district this business
amounts to about ilO. COO tons and will
b. 900 900 by the end OF the week.
"In the East nearly as much more is
rpportrd. Adding orders which will 90
70 Alabama and Colorado mills gives
total well above l.O0O,O'W tons.
"Ilcmarkabir run Of locomotive buy
ing which followed the shop!ncn's strike
has kept up, rnSt weeks orders being
for 1876 while fully so arc pending.
Latter include 100 for New York CEN
clO IN al. Weeks total OF new cars
gotia,i"n.
In operations, the industry has
worked up close TO 20 per cent capacity.
which represents rapid bettcrmcnt ih
thc last three weeks. But there Is little
hopr Of improvin: on this rate.
"Thcr" arc moro indications Of n
2.cent 70 2.lO-ccnt range by S,rc! Cor.
: poration on plates and shapes and l."5
n l,
business. At same time 2...j cents il
more commonly maximum on new bu>i.
ness in these three products that has
gone t" Independent mills.
"Uwing 10 increase IN product ton and
waiting policy OF many buyr'S pig iron
prices have developed decided tendency
downward and in some ,cutcrs in the
Mott. u.utat.ons are from 81 to So
lower
Loan Situation Causes Comment
There wa, a general discussion Of the
technical situation of Oh" stock mar
ke' in an uptown brokerage Office yes.
telday in which tho situation was
viewed IRON different angles. but the
belief prevail cd among those WHO s"oul.i
be- fllIy informed that conditions Law"
been essentially changed and ,na'
st cngth is now in process Of d"Ncl.p.
nlrnt an. ! new upNaid mUr cmrUt in
prJspCCt
Tine loan situation was the subject
Of 4 good deal Of comment. partly be.
cause Of statements that had been made
that Wall Street accommodation hnd
reached the high peak established in
1919. and that the available funds in
the market had been drawn Oh to an
extent making the money situation one
easily influenced by any withdrawals.
or combination OF requirements that
COME at intervals of lurge interest ana
dividend payments.
1t is said that some houses that have,
been noted as carrying storkS to con :
sllt r"blc "At"ni for a long tive past
have IN The last two Wcrk,, rr,il!rru thci"
accumulation by fully 20 per cen, ami
arc NOW again IN position where thea"
loan accounts will stand Il material de.
gree Of expansion.
II Is matter Of general understand.
Ing that headquarters for variOus pools
and combinations have been the source
Of the supply in III" market for some
days past. and that this supply indi. /.
Gated pool liquidation to a great extent
HctorcnceS to reduction OF loans car.
ned with il the statement that POOL
holdings Of several important issues had
b'"n completely liquidntrd. and that
]lonilatiou luyc ogain ns.umcL - ,,rn". "'.,
position and the Inundated stocks thor.
oughly distrllu'rd
AtIhis0E'S OpeyRtjny Rev eu,cs Dron
Kui;wnv onoro,ir, ,oo,,n - ~.
Amhi,nn Torol', nI n'""' ~ ~
w0y for ,nn,,', "ia i"',,.i .''.' -" e., ny
03i ~ rnmnor,l Wv ,Ia "-.'.
las, wear whil, 'rar,,,n', @ 'm r"tnn a''',''' ~, u
crc,srS e. - ~ ,n., '."'i''s ~, N''hS'S ~ .
yes,crio,. '''''''' II wa" announced
Clncr";;r, ,,o,,.. =.
mopths 80 g., ',rn"', 'or In" r., rlgh'
~ ~ ,n1 wy Hen! n'crrhs'' "L"."W' :
por,od "on,rn", '"''"I H. 'H'"'nH'S ,'' t'"''
also %crr",. 81 ~ =" nn- ny niEM'' >'l"Nlni
TO Tho cnr,nsnnn'ii n'ii"n' '"n'rar"
, jDo, o,n, o.uHp"h'.'ns "gh' n'"nlh~ I
40, r.nn, 'H,.'S s,n r'r"nnrs w." August
were ri. e ',.,c ,n',''"''''t -, "h" 'AP"Ns"'
Both nro,,,ir. ii-" -, a
1ng 9, no,,,,. "'r"I '',.rn"'N ana .n'r"' :
western RuiIwov lc ,rnaa "H" ';''' '',' t",,',,
K'r"'"" K,yrn"'""' 20 t',' sam" month Inrt -r"n",
500, SIS oeu,,., o." .,"s"i'. E., !'GC ~; were 81,
1871, and ,n,ni nnn,,., na.",u"' III A"S'lr'
tho mon,h ,r,"' r'o ..Ir'n.I'E 80 ~. expenses '"'
with SO nGs ~, for ,',,',,, ,.o"F'r'"
~. august 'a'' year,
September Interest disbursement.
The Dipcs, or ,rr.d, C,nI;,;