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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 18, 1923
Page
10
Amid uneven trading on the New York stock market, prices drifted lower after a bellwether oil group faced liquidation pressure. United States Steel rose softly around 98, Rosco? gained modestly, Canadian Pacific held steady, and loan rates slid from 41/2 to 4 percent as euro markets showed mixed strength.
A quarterly dividend of 1 on common stock is noted with record date August 1 and payment in August. The Standard Oil of New York lowers gasoline by 3 cents, and Texas Company plans maintain dividends with limited expansion, amid broader oil market moves.
Gulf Oil and Texas Company announce price adjustments in New York and New England. Pennok Oil declares an extra 10 cent dividend alongside 17 cent quarterly payout, payable June 35 to holders of record June 35. Alabama Sugar issues 19% preferred dividend with June 16 payment to stockholders of record June 1. Bondholders face potential 7 cent interest readjustment on $4,163,000 first mortgage bonds. Market notes: price sturdiness seen as due for readjustment. National Bank commentary on futures, production, and parity in prices. copper spot and future rates listed with modest changes.
Washington Gas Light Company reported total revenues of 452,882 with expenses 206,625 for April. Net corporate income reached 66,933 for the month, lifting January to April earnings to 340,436, up from 297,586 in the prior year.
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