Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-08
Wall Street Briefs

NEW YORK, January 8 CP.-Steel
ingot production in December, 1926, is
calculated at 3,472,000 tons by the
American Iron and Steel Institute, the
smallest monthly output during 1926
and below the 3,970,91S tons in Deem
Der, 1925. Production in 1926, how.
ever, was far heavier than in 1925
reaching 47,133,517 tons, compared
with 44.140,738 tons. The years ap
proXimate daily production was ISL J,
555 tons, against 141, 1892 tons daily in
1925.
November operating income of the
American Telephone and Telegraph
Co. increased to $3.501 1876, from 49,.
431 ,467 in November. 1925, but for the
first IL months of 1926 declined to $34, ;.
0S9,57S, from s34,9S7.764 in the same
period the year before. Gross for the
IL months was $50 ,14S, 565, an increase
of 81 $50, 704.
Increased hog-raising in Europe and
the necessity for cheaper meat in that
market is gradually eliminating that
outlet for American packing products
says F. Edison White, president of Ar.
mour & Co. The American packing
industry, therefore, is combining it's op.
erations largely to American trade and
is improving it's manufacturing and
merchandising methods, which has put
the industry on a sounder and more
permanent basis.
A satisfactory year for the packing
industry, with downward readjust.
ment of hog prices to conform with
those of other live stock, and an in.
crease of pork sales in Europe are
foreseen by f. A. Cudahy, chairman
of the Cudahy Packing Co., who an.
tfcipates a firm domestic market for
packing products, with an abundance
of live stock at reasonable prices
Traffic receipts of the seven princi
pal French railroads in 1926 up tc
November rs increased 2,543,719 .OO(
francs over the same period of 1925
the Bankers Trust Co. Of New York
is advised by it's French information
service.
Pending inquiry in the railroad
motive power market is light, blu,
builders look for improved business
before Spring. The New York Cen
trail is expected to ask for 100 OF
more engines in the near future. The
Missouri Pacific is inquiring for 81
engines and the Central Of New Jer
sey is said to be getting ready to buy
A shipment of $4,000 in gold tc
the Straits Settlements is being made
by the International Acceptance Bank
Inc
Robert G.. Stone has been elected
director of Mathieson Alkali Works
Inc, succeeding the late Galen L
Stone.
The Imperial Government RAILWAYS
OF Japan has given an order to the
United States Steel Products Co, sub
sidiary of the United States Stee
Corporation, for 900 feet of black
gas pipe. American makers Of tir
plate also have received orders fol
moderate tonnages from China.
Orders of the Westinghouse Electric
and Manufacturing Co. for the last
quarter of 1926 are placed at SAG, 1926,
600, with an estimate of 1890, 900 for
December. which would compare witt
actual bookings of 39,770, 900 in the
last quarter of 1925, a gain of more
than 26 per cent. Orders booked il
the third quarter of 1926 were SAL,
00S,000.
Sales of S. II. kress & Co. for 1925
were nearly $4,000, 900 more than il
1925, $5l 1863 400 against s45,963,196.
The Chicago, Rock Island and Pa
ciiic has ordered $50 ballast cars from
Pressed Steel Car Co.
Railroad presidents, bankers ant
business men will give a dinner OF
January u in honor of Frederick d
Underwood, recently retired presiden
of the Erie Railroad.
Sugar stocks continued to featur,
over the-counter" trading today
gains being recorded by Holly Sugar
Godahcuz preferred, National Suga
Refining and Sugar Estates of Oriente
Kroger Grocery and Baking rose sew
eral points on merger reports ant
sales OF $146, 900 for 1926, abou
O,0O0, 900 ahead of 1925.
TREASURY CERTIFICATES.
(Reported by j. w Seligman & co..
---Close----
Bid. Offer
Ans Mar IS 1927. 100 1872 100 1913
3hs June ID. 1877. TOO ~. 100 G.i'.