Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-04-25

NEW YORK. April 25.-New Haven
was one Of the most active of the rails
and was in good demand yesterday. The
good showing made ly this company's
recent report Is attracting attention 10
the road and there was a mild revival
trying to buy control OF the Ontario
Western from New Haven.
Rails. as a rule. were inclined to be
4 bit quieter. as il Is believed in the
street that rate decisions by the Inter
state Commerce Commission may be ex-
pected at any time this week. ON the
other hand. traders are inclined TO the
belief that The Labor Board Will not an
nOunce wage decisions until the coal
strike shows signs of settlement Thus.
if n new scale OF rates were announced
without any corresponding change in
wages. it would tend to react bearlshly
On the rails for the time being.
Wilson & Company reached Il. a new
nigh for the year, this being due to
The very strong financial position shown
- the company. Current assets Of this
company are now nearly four times as
great as current liabilities. and ID is ex
pected that with lower operating costs
1922 should show further Improvement.
General Asphalt was strong and worked
points higher in the early trading.
following an announcement hat the com
many has brought in a $4,000 barrel per
day well in Trinidad While the Street
was generally expecting an unfavorable
report for Asphalt for 1921. the fact that
his is issued and out of the wav Is n
source of satisfaction. The report showed
a net loss after all charges OF $740.942.
against net profits of S1.4G53S9 In 1920
he latter figure being equal to $5-5l per
share on the common after preferred divi-
bends had been paid.
Keystone Tire ( Rubber ran up sharply
on active trading. This company is said
ODE increasing its output of tires and is
IN aggressive bidder on contracts It
5 reported 70 have obtained the contract
or supplying the tires for one of the
IL taxi companies in Greater New York
the face of small keen competition.
Kelly Springfield assumed leading
Isition among the tire and rubber
locks, and crossed 81 for new high
un the current move. United States Rub
Der. Lee Tire and other rubber stocks
we're firm in sympathy. With the large
increase in motor production and the
close approach of the automobile season,
surplus stocks, and it is believed that
he big plants should meet with a sub
Stantial increase In demand.
Call money has finally felt the influence
f the heavy trading. and in the last
our, the call rate firmed up from 81 to
per cent
NIidvale Steel had Il comparatively wide
pening for this usually Sedate issue
considerable stock changing hands at an
-dvanCe Of about q pOin- and 4 half over
last Saturdays closing. While Midvale's
market prospects are based largely on
OSsip in connection with the rum0red
merger. students of the steel industry
oOk with considerable favor on the com
amy on account OF It's improved in
ustrial position. Aiidvale is said to
ave even a greater diversity Of products
han the United States Steel Corpora
ION. 1t carries its products to a more
uished state, which gives it n relatively
trge margin of profit, Last year the
Impany turned back about S19.UO0Op0
fcient and putting Midvale into the
ass Of the low cost producers.
Steel locks, as 4 group and with a few
cephOns. We're rather quiet. principally
cause Of the belief that at the quar-
rIy meeting of the United States Steel
IrpOratiOn. operations for the first quar-
will not make g cheerful reading as do
CREATIONS at the current rate
Inasmuch as Butte and Superior was
osed down last year, no regular report
as issued All maintenance and other
darGes during the year were simply
He'd as charges against surplus Total
harges minus moderate miscellaneous in
1g this from previous surplus left bal
nee of S2,764, Col
Oils Elevator is well supported here
I'D traders who are following the stock
re inclined to make much of the strong
nancial position. At the meeting yes
erday. W. D. Baldwin advised that the
-ompany has from S7.0O0O00 TO 5000. 600
hand As against comparatively small
current liabilities. II was also stated
hat at the present time. the English
business is the best in the cOmpanys
history, and that negotiations with the
French government for dana ges TO the
company's property were finally working
through the mesh of red tape
May Department Stores finally sue
reeded in breaking through its 1922 high
and sold above 121. Montgomery & Ward
and other retail issues we're firm. the
rise being based on the general improve
ment in demand on retail distributors
Ctah-IdahO Sugar has issued its re-
port for the fiscal yea. ended February
-, the statement being very unfavOrable.
Operating loss for ne period was s.. &c.,
76J. leaving a deficit after income taxes.
etc, Of $I.607 1922 bA
Public Ledger Company. 81