The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-08-02
Business News

NEW YORK Aug. Moore attention is
oeing directed In the financial district to the
increase In the car loadings of merchandise
and miscellaneous freight throughout the
country than to the fact that total loadings
T tasG1t6l a new high at 1.o2se27 care.
have had IN the past few weeks no ap-
precaoie effect IN sentiment in Wall Street
only !,2S3 cars when made in the mer-
ehandlse and miscellaneous freight Is an in
dlcatlon that the July slump has passed
ls pointed cut however, that the merchan-
dlse ioadings of 5S4 .407 are still considera-
ply ply below some OF the loadings in May and
as hlsh as oS3.OOO cars IN week.
CHICAGo-oyer the last several months
Armour & Co. have been making a good
showing notwithstanding the fact products
nave been selling around pre-war levels
ioaoni have been sufficient to cover in.
comfortable surplus Gross business is ex-
pected to show substantial increase in the
last half of the year which would Indicate
half -
u. NEW YoRK-contrary to the general be-
lief. steel production by the United States
Steel Corporation is greater now than il has
peer recently. Day.to-day production is now
rum at from 81 to 81 y per cent Of
totaI capacity as compared to 30 ~ ten days
ago Some Of the Independent companies
aa99wever are running at slightly less than
cent week and half ago The net result
ls a decline of SO per cent of total produc-
I'VE I'VE capacity for the Nation as compared to
81 per cent. This declining tendency ia ex-
pected to continue for a month to come at
the end of which time upturn is looked
NEW YoRK-Dewitt Millhauser of
Speyer Co. has become a member OF
the bondholders committee representing
ane h h and refundins mortgage per
railroad Company and the Iowa Central
Railway Company.
BERLIN-Reischbank has increased its
rediscount rate from 1s to 30 per cent.
YOUNGSTOWN President .Foster NJ
General Fireproofing Company says out
auiry is well distributed throughout the the
country. indicating that no local or special
conditions are responsible for bettenment
Operations are at capacity.
NEW YoRK-As proofs Of nrosneritv 8"
the Wall Street journal points out that
American aII locomotive has ,S54,5o0, 600 un-
flled business, or capacity orders until
United States Steel according to Judge
Garys statement. will operate at prac-
unless there is further slump in buying
Bethlehem has $50 100000 in forward
business against SCI BOO 900 on Jan.
Studebaker is scheduled to produce Al 900
cars in the third quarter Prospects for
other companies are equally good Briefly.
all present indications are that earnings
will continue at a high rate at least to
the close of the current year.
NEW YORK-Insovencie during July
show further decrease and are the
smallest In number for any other month
ness involved is somewhat larger than 1t
was in June. which was the smallest in
amount for any month in the past two
years and a half Mercantile defaults IN
G: Dunn & Co. No. /, 231 with liabilities
of $50. 721,1sS. These figures contrast
with 1855 similar defaults in June having
an indebtedness Of $2s ,67s.276 and 1 1853
owing $40 ,0l0,313 during July 1922 A
number of large failures in manufacturing
lines caused a considerably larger volume
of Indebtedness for the failures reported
last month
NEW York; ster and faster go the
note printing presses in Germany, where
the Reichsbank reaches another notable
record in flooding the country with paper
marks. It's output is now at the rate of
over 1000 600, 900 900 marks a business
day. During the past week the bank put
out 6400. 900 900 900 marks. the total
now being 81 .s24 $50 800 900 marks.