The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-11-23
Business News

NEW YORK. Nov. 23-The steel mar
kets continued moderately active. with spe-
cial inquiries in certain lines. Structural
Is active bethlehem Steel has an order
for ZOO tons for building IN New Jersey
There is consi ierable foreign inquiry. Japan
recently placed is 900 tons OF sheets with
mated that Japan has not yet bought more
than third Of her total requirements. Or
ders so far, 100000 tons. Japan, Chile
and Brazil are in the market for rails
South Manchurian railways opened bids
Wednesday for IL 900 tons of rails, but
tho contract has not been awarded An
inquiry for 1900 freight cars from west.
ern Australia will probably be placed here
NEW YORK--The new oil combines
which are being entered by some of the
ing UP for their first big battle against
each other. according to word which comes
from important oil circles. This fight will
be for the markets of Rocky Mountain
which are expected TO supply oil to such
markets. Oil lands which are being opened
In northwestern New Mexico are expected
to be the big phase. Oil circles place much
strength in the departure this week of a
party of leading officials of the st. Louis
& San Francisco Railroad for an inspection
of the properties of that road. The rail-
road controls some of the largest tracts of
land near the scene of discoveries of oil in
New Mexico and there are reports that me-
gotiaitons are under way that may mean tile
of the Standard OIL companies engaged in
the new territory with a view that that
company place itself in formidable position
for extending its markets in the Rocky
Mountain States.
The Prairie which has acquired control
or the Producers and Refners Corporation
is one of the Standard Oil Companies which
low controls large oil lands in New Mexico
and IL is preparing to extend the markets In
the Rocky Mountain States which the pro-
ducers and Rehners has developed in such
territory.
NEW YORK-A few months ago Wall
Street had almost forgotten that there ever
was a Santa Claus. This was because bust
ness on Stock Exchange was small and
brokers' profits were meagre. Many OF
them at the time, complained they were not
weeks. with the daily Stock Exchange trans
actions running around the million share
mark, the Christmas outlook has assumed
a different and encourasing aspect. Already
ing as to the extent OF Kris ingles gener-
osity. 1t is likely that the usual liberal dis
tributions will be made by the larger houses
who have shared to great extent in the
recent activity while other firms, especially
those catering almost exclusively to the pub
lie which dabbles in odd lots. the remem-
brances will not be unto those of>the former
Yuletide seasons. Without question the
bank workers will fare somewhat better than
a good year. and inquiries among them llict
the information that the workers viii be
remembered.
NEW YORK-Southern Pacific is the Sec
ond Pacific system to break all previous
traffic records In October. Gross revenues
ord month. october. 1920. but net operating
income was 2 per cent higher than year
ago and 81 per cent higher than In October,
1920. Freight rate reductions since 1920
died this year Al Rheuk she same kfess -
ihxss yeava asa.