Evening star., 1928-11-01
Wall Street Briefs

The steel industry enters November
with ingot production running at bet
ter than 81 per cent of capacity. This
compares with 86 per cent a week ago
and nearly SO per cent two weeks ago.
The gain is ascribed to increased ac-
tivity of independents, now operating
around SO per cent of capacity, gain
of more than per cent over a week
ago. Bethlehem is running at "a per
cent of capacity. Two weeks ago in
dependents were at 88 per cent.
Pierce-Arrow Motor Car Co. of Buff
falo reports october shipments of cars
and trucks were slightly more than
double those of October. 1927, with
truck shipments showing the highest
monthly total of this year. Since Au-
gust shipments of units have been about
800 month.
OUTPUT of Poland's sugar industry in
creased more than IA per cent in the
sugar year Just ended, in response to
the greater domestic consumption. the
Polish legation reports. In the first IL
months of the sugar year, from Octo-
Der. 1927. through August, 1928, the to-
| tai consumption was $4,000 tens,
against 286, 100 tons for the correspond
ing period of 1926-27.
The National City Co. announces the
private placing of 10000 shares of the
newly formed Boeing Airplane & Trans
port Corporations 6 per cent cumula-
tive preferred stock, series A, and $1,000
shares of common in units OF 10 pre-
ferred shares and three common at
$500 a unit. The company is a con-
| of fha R0oinG AirI0Iano
Boeing Air Transport, Inc, and the
Pacific Air Transport, all Pacific Coast
concerns.
Standard Commercial Tobacco Co.
Inc, of New York, which has been en-
gagged solely in importing and selling
| leaf tobaccos, announces it will shortly
manufacture a new cigarette blended
for European consumption. President
E. Kehaya is reported to have developed
the new blend himself. The company
recently signed a contract for the gov
ernment tobacco monopoly of Czecho-
slovakia.
Stockholders of the Van Raalte Co.
Inc. of New York, importer and manu-
facturer of gloves and silk and knit
goods, today approved plans for increas-
| lIlR IllC StOCh W 1OOBOVO oAANA SG
from 80 900 and granting company Of
ficers the right to purchase the addi-
tional 10000 shares. Increase in the
number of directors to Is from II also
was approved.
Iron Age lists as encouraging fea-
lures of the iron and steel market the
impending purchases of railroad equip
ment, seasonal orders for rails, SuS'
tanned demand for pig iron that ha:
forced prices to higher levels and fur
ther signs of strength in finished ma
terial, particularly bars. 1t is pointed
out, however, that there are evidence!
of tapering operations in the automobile
industry, and indications of gradual re.
duction of mill backlogs, with shorten
ing of deliveries. Advance in heavy
steel scrap prices at Pittsburgh was in.
terrupted by 25-centS-a-ton decline.
Iron Age compositive price for fin.
ished steel has advanced to 1859 cent:
a pound, the highest since June, 1927
from 1852 cents. The pig iron com.
posite has risen to $1825 ton from
$1792, marking the first time it ha;
crossed $18 in more than a year.
Directors of the Studebaker Corpora
ton yesterday declared a dividend O.
SITS share on the preferred stock anC
$125 a share on the common stock
The dividends are payable December
to stockholders of record November 10
This is the seventy-first consecutive
quarterly dividend on preferred stock
and the fifty-fifth on common stock.
The Western Public Service Corpora.
ton of Pittsburgh, Pa, has been or
ganized to serve southern Idaho ant
central Utah with natural gas. The
holding company will have a capital
stock of 100000 no par shares.
Gillette Safety Razor Co. of Boston
stockholders have approved increasing
the capital to 100000 no par common
shares from 100000 and payment of 6
per cent stock dividend. Stockholders
will receive 100000 shares December
New York and German bankers have
organized the International Marble
Corporation in Delaware to operate
marble properties near Lasa, Italy.
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