Evening star., 1926-09-30
WALL STREET BRIEFS

NEW YORK, September 80 LP.-
The downward tendency in the price
of bar silver continued yesterday. the
New York quotation of 57& cents ar
ounce being a new low record for the
last five years. almost a cent below
Tuesdays market value.
Orders for IL 900 freight cars are ex
rected to be distributed by various
railroads shortly, with probably be
tween 1000 and 5000 from the Mis-
souri, Pacific. Other roads mentioned
in the prospective list of large pur.
Chasers include the Chicago & North
western, Louisville & Nashville. Chi
cago, Milwaukee, & 81 Paul, the d.
J.. w. and Atlantic Coast Line Rail.
road.
Surplus of the Atlantic, Gulf & West
Indies Steamship lines for the first
seven months this year was $139,S1O,
in contrast to $1,326,492 in the cor.
responding period of 1925.
Iron Trade Review says nine months
of remarkable demand have brought
the steel industry to the final quarter
Of the year without perceptible dimi-
mutton in stability of prospects Con.
sumption is keeping on high plane
which, in absence of any considerable
stock generally is compelling current
ordering in steadily large volume
Mills under constant pressure for de
lvertcs, are keeping production with
in recent high limits.
Earnings and sales of International
Harvester Co. for the nine months
this year were we'll ahead Of the cor
responding period of 1925. said Alex
snder Legge. president. Crops in the
Middle West were fair. but he
thought the recent excessive rainfall
would hurt the situation somewhat.
Despite the fact that volume of
sea borne traffic today barely equals
that of 1918. there has been an in
crease of 80 per cent in ship tonnage,
says the New York Trust Co. While
q large part OF this tonnage represents
ships that must be discarded, never
theless the world still faces a condi-
tion where the number of ships
available is more than adequate for
the cargo 90 be carried. OF n total
world tonnage Of 15.ll6.0o0 gross tons
on June so. about 6.0S6 .0U0 tons
represent idle shipping. a decrease
of nearly 10 per cent compared with
year ago.
In order to keep pace with demand,
Buick Motor Co, subsidiary of Gen
eral Motors. has had to increase pro
duction capacity of plant units twice
in the last year. ths latest addition
to the Detroit factory calling for a
$4,000. 900 gray iron foundry with
daily capacity OF 500 tons of castings.
This is necessary to meet the present
production schedule of more than
1900 cars daily.
Of4cials of the Atlantic Coast Line
Railroad attributed the decline in
August earnings to the fact that the
mont MS operations were seasonal,
whereas larger earnings in August,
1925 were due to the great boom in
Florida In addition. purchases Of
new rails for this years deliveries
totaled $4,000 tons. instead of the
Regular requirement Of $4,000 tons.
Track work had to be rushed. neces-
stating an increase in expenses for
this and also for extra work on
equipment in prepa ration for Winter
re vel Maintenance way expenses
rose 5000. 600. equipment was $l40 900
more and transportation costs in
reased S250o00
Quotations direct from the New
FORK Stock Exchange will he pro-
l,cted on tho floor of the New York
ilI-h Market through two large
'moyie tiCkers." 70 be installed by
frens-I.ux Daylight Picture Screen
lorporation.
Tho New York Cotton Exchange
mem hership Of Milton L. Mason has
been sod for $3.50 to Archibald r..
Cwathmey. jr.. for another $4,000
less than the previous transaction.
The Coldak Corporation. manu-
facturers and distributors of electric
refltgeraters. has acquired the
Alaska Refrigerator Co. of Muskegon.
Mich. The present manufacturing
and distributing OF the Alaska com
pany's products are not TO be dis
Iurbed. II was 60 ted.