Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-01-14
Wall Street Briefs

Harry F. Sinclair, chairman of the
Sinclair Consolidated Oil Company
said more petroleum products were
being consumed both in England and
on the Continent than ever before
Oil business was facing the future
with better prospects than in many
years, judging from what he heard
while in Europe, Mr.. Sinclair assert
ed; all indications pointing to a
healthy state in the industry. He
expected higher prices if consump-
ton increased. I'VE still have our
interests in Russia on Sakhalin Is
land, but the property is in what You
might call status quo at the NOM
ent."
Wall Street hears that short term
financing of about $15,000,000 five per
cent notes is being arranged by the
B. F. Goodrich Company to carry the
company's inventory through the per-
iod of high priced crude rubber.
Private Tulsa dispatches received
in Wall Street, state that w. G. Skel-
~, president of Skelly Oil Company,
declares rumors that his company
would enter a merger are unfounded.
Our earnings situation is so favor
able and general prospects so attrac-
tive, that we feel we would not be
justified in considering any merger
at this time, "he is quoted as having
said. The company's shipments of
refined products in 1925 were 20,400
carloads, Is per cent more than in
1924. Crude production is about TO-
600 barrels daily.
Merger talk in which the Wabash
Railway and the Lackawanna have
been linked, absorbed further interest
in the financial district today on the
eve of the hearing in Washington on
the proposed construction of the New
York, Pittsburgh and Chicago Rail
road, an important link in the Loree
fifth trunk line system, with Wabash
as its western division. L. F. Loree
and Charles E. Hughes will be in
Washington tomorrow. Presidents of
railroads entering Buffalo also will
confer tomorrow with business men
of that city to consider unif1cation Of
terminals. The Wabash now enters
Buffalo over the Lackawanna Trail
Holders Of Hudson Navigation
Company per cent mortgage bonds
and five per cent collateral trust
bonds have received a circular from
F. ]. Lisman and Company, indicat-
ing the banking firm is likely to bid
against the bondholders' committee
at the forthcoming sale of the pro-
perty. In consideration Of bidding at
the sale, the bondholders are asked
to agree to pay Lisman and Com
pany one half of the excess price
which they may receive about 70 per
cent of the face value of their bonds.
These bonds recently have been
quoted SIS bid. 60 offered.
A yearly saving of approximately
$40, 900 has been effected by, Safety
Gable Company through installation
of fuel oil firing at one of it's plants
in place of coal, more than IS cents
share on the 159,152 shares outsaand-
ing.
Checks for the extra dividend of
IS share declared by General Mo-
tors Corporation last November,
We're mailed to 29,792 common stock
holders. General Motors common
and preferred stockholders for the
fourth quarter of 1925 numbered
59,917 compared with 58,11S for the
preceding quarter.
The Baltimore and Ohio has order
ed 1000 hopper cars from Bethlehem
Steel and Standard Steel Car Com
pany; 40 passenger cars from Pull
man Car and Manufacturing Com
pany, IS from American Car and
Foundry and Is from Bethlehem
Steel. Union Pacific placed orders
for so ballast cars, passenger cars
with American Car Foundry, 700 au-
tomobile cars with General Ameri-
can Tank Car and 800 with Pennsyl-