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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 17, 1922
Page
5
Market ends mixed with late upturns as petroleum shares lead gains while overall sentiment remains cautious. American Petroleum closes near year’s high on news of Mexico credit accord. Mexico’s debt settlement seen as signaling tighter lender borrower relations and potential cross market impact.
Yesterday's transactions show mixed stock activity with notable gains in some industrials and declines in others. Bond listings include diverse industrials and government issues, with total trading volume and price levels noted alongside foreign exchange movements.
Mexican Petroleum surged about 8 percent as bears covered short positions ahead of the 1921 earnings report. Market wide movement was irregular with European sugar prospects noted as improving in parts of France and Germany, while U.S. Hoffman Machinery projected strong May earnings and a solid second half.
A reader asks about speculative purchases in rail and chemical stocks and bonds. The advisory reply cautions against speculative bets, recommends conservative investments like certain bond refundings, and urges focusing on securities with steady dividends while avoiding risky issues and pure paper profits.
The readable portion mentions a town week and names that appear garbled. It hints at a local notice or sale, with entities like Ary and Wathen and references to a telegraph or meeting context. Details are unclear but indicate a public or legal action item in a town.
The report notes rates opened near 49 percent then fell as the session wore on with lower offerings. Tax check delays at banks disrupted supply lines, while preferences for ad 3 percent yielded year 8K. Interbank clearings in New York show balances around $92,000,000 with silver in London and domestic bars, and a note on Mexican dollars.
The American Tobacco Company shows $15 963 000 in sales, up 6 percent from 1919, with extensive plant operations and a large debt maturing November 1 1923. Earnings per share for 1921 averaged $1.68 on common, while ten-year average per share was $20.13. Dividends of 12 percent on both common classes.
Questions of general interest to investors are discussed with guidance on inquiries to the editor. The piece notes pressure in the film industry from abroad and rising production costs. Famous Players-Lasky stock is seen as influenced by management and market upheaval, with unsettled conditions and potential for price shifts amid competitive forces.
A brief market item notes the sale of powerd t and p vehicles at the market, with H Forzheim er listed as the seller or broker. The record records a transaction involving cars and a price indicated by a symbol resembling ¢9.
Lima Locomotive proposes a stock reorganization including a split of 1100 par common stock into no par shares, offering current holders 11-3 new stock at 12.00 per share, with preferred stockholders convertible to common. The plan also funds a $1.8 million credit facility and plant expansion to raise capacity about 20 percent, with voting rights on a two for one basis for new common. An underwriting arrangement will cover unsubscribed shares.
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