Evening star., 1927-10-20
Wall Street Briefs

PROSPECTS FOR COTTON.-Th,
South will receive as much money TO
this years cotton crop as it did las
year, despite smaller production, ii
the opinion of L. A. Downs, presiden
of the Illinois Central. THE move
ment of cotton will be smaller, but tn,
fact prices are higher is an indication
| that the purchasing power will not b.
affected, which is far more importan
than the cotton traffic itself. Oul
gross revenues for 1927 will be as larg,
as last years, although net incom,
will reflect expenditures for $500, ,00t
of flood damage. Our coal traffic thi.
year was 2.9 per cent larger than tn,
1925 period, despite the bituminou.
coal strike"
FORD BUYING STEEL. - TIL,
Youngstown Valley steel sheet ant
strip industry is being benefited by &
heavier inflow of business from tn,
Ford Motor Co., running chiefly Il
fiat rolled steel materials. Steel max
ers affected by the orders are hopine
the development marks the long
awaited turn in the market. Majorit,
opinion is that Ford's return to the
active list will be healthy stimuli.
to the steel industry and collatera
lines. Buying of steel sheets in the
Pittsburgh district also shows i'm
provement, demand coming from wide
! ly diversified industries. The Fort
Co. has taken some experimental
amounts of tonnage.
HUDSON COAL CO.-Two collierie.
of the Hudson Coal Co. near Wilkes
Barre, Pa, on the Delaware & Hudson
|
a shutdown of several months. Others
are expected to resume shortly.
COAL PRODUCTION. - The Ma
tional Coal Association estimates
bituminous coal production for the
week ended October Is, at 10,575, ,O0(
net tons, compared with 10,280, ,00t
tons the week before reported by the
Bureau of Mines. Last weeks ton
mage was the greatest for any weel
since April /.
CUSHMAN'S SONS. - Cushman'.
Sons, Inc, earned $6.58 a share or
the common in the nine months o
1927. against S4.10 a share in thu
same period last year.
STEEL TON AGE. American
Metal Market says steel trade con
ditions have taken a turn for thu
worse in the last week, chiefly il
point of tonnage. Price irregularitie.
| continue to give concern to seller:
and buyers alike, and somewhat more
conspicuous than a week ago.
NEW HAVEN RAILROAD.-Gov
ernment obligations recently paid of
by the New York, New Haven 4
Hartford Railroad include a note fol
$43,O00,000, due October, 1880, ant
paid October 5; s2,000,O00 Treasur,
notes. due February. 1928, paid Octo
ber 13; $1,500,000 in notes due Feb
ruary, 1914. paid October 13, ant
| S850,000 paid October Is on accoun
on a note for $5,0O0,O00 due Octo
ber. 1881.
GULF STATES STEEL. Gul
States Steel had net profit of S52l,
40S for nine months of 1927, equal I,
$3.50 a share on the common stock
against $564,941 in the same perio,
Of 1926. or $3.67 share. The com
pany earned 90 cents share on tn,
common in the third quarter, agains
~ cents share in the second quar-
ter.
| INTERNATIONAL PAPER. -- In
ternattonal Paper Co. has no intention
OF buying f. b. Eddy Co. of Hull
ontario. said A. r. Graustein, presi
dent, denying published reports o
pending negotiations
OIL STATISTICS.-Preli fie
ures OF oil results for September in
dicate an excess Of 4,4I6 900 barrel
in the supply OF crude and refine
oils, excluding Californias daily a,
erage oversupply Of 1000 barrels
Complete figures for August show
net gain In all oil storage Of 633, 90
barrels. daily average excess {
$4,000 barrels. The seasonal declin
in stocks Of gasoline continued /
September. preliminary figures ind
eating that stocks east OF the Rookie
decreased 2,257 900 barrels.