Salt Lake Telegram | 1928-05-09 | Page 14 | Wall Street Briefs

I I W Wall al Str Street et Briefs Brief s I NEW YORK Stay May 9 AP AP AP Operations Jn in rate t the tite this steel week try industry r 85 per are cent cen at a of still fl capacity higher l the Increase of ot about I. I Vi 74 per ncr pel cent being due clue to 10 0 a a gain of or 1 p per r cent among Independents Independents Inde Inde- which are operating at ut 81 Si per cent Subsidiaries of U. U H. H Steel leel are al about abut out unchanged around 90 91 per cent against 90 pe per pe- cent two w weeks els ago igo Stockholders of ot Durham Hosiery Mills the Ule ot or a committee have havo approved repot report a commilee appointed to formulate plans for reorganization reorganization 1101 ot of the tle capital structure First quarter net Income of Fairbanks company anti and and subsidiaries declined to lo from in the tireS quarter of 1927 1527 This Is equal to a a share sharO on the time first preferred stock against on the first preferred a year eal ago Directors of American Ice company have e ba authorized an Issue lebue of of ot 5 S per cent year 25 debenture bonds the proceeds to lu be used for or refunding time the tle present of ot 6 0 I per percent er cent real estate estale first and general mortgage bonds and smaller underlying Brown Drown Bros Dros Co h have ve acquired the pew new issue J Fairfax Harrison president t of the Southern ran railway way said sal on his from Europe that last lut reports Indicated l progressive industrial conditions In the south He lie looked for crop improvement over last year Doth Both of tile the Iron 1101 Age composite trIed trice hayo dropped this wl week I pig iron i reach achIng ach- ach Ing inc a new low point for tor tile the year ar nt nl lol low 1760 Golf of a a 1 1751 1731 ton 05 e early 1 Pf in eJ January with I a The lIme n previous v finished tIn fin mitCh steel composite has declined l to 2348 cents a pound but is I 1 I 1 44 pcr per percent cent above above the time years year's low of 2311 cents In ill II January Age Ae fAs fA's a ass s the new month Tour record 1101 of tons lons in steel teel ingot output Is testimony to lo the volume t f steel going Into widely ramifying uses sel anti and suggests lH that furnished ly the staple barometers the lie steel consumption I 14 it lets lees let conclusive than titan former formerly ng activity was fully tuly In keeping with teel production but automobile although virtually equal eQual to lo that hat cf the tIle fell first third of last years year's tel ably short of ot tile the totals for Ihl corr corr corra periods of ot 19 1926 6 ant and 1 1321 I. I Depression De De- In Itt tho tito oil all fields has baa ha been 11 re- re fleeted In lii subnormal purchases purchase t i f t steel and railroad equipment buying S has baa been meager of or bituminous coal n n the tIle United States in the week ended Stay May lay toni tuns by hy bythe bythe hythe 5 Ii la Is II estimated at net the National Coal association against net Col tons lons reported by jy y bureau bu bu- bu- bu reau resu of mines the week before A. A S