Salt Lake Telegram | 1932-05-24 | Page 14 | Wall Street Briefs

Wall Val Street Briefs The Cha Chase Harris Forbes corporation as paying parIng agents announced today that funds have been received to make the June 1 1932 payment on the tte outstanding German consolidated loan 6 per percent percent er cent cent bonds due June 1 1847 Gossip In brokerage circles suggests that there has been considerable short telling selling of or public utility stocks tocks In spite pUe of the In Increasing increasing In in- creasing restrictions on that that type of selling A larger r part r of the selling has been rol I orbr prompted by belief l f that t t the earnings rl of the electric light liht and power companies will wi be br cut do down this r year ar by the cumulative e ef effects e- e ef- ef of the depression Financial observers are of the opinion that the net net liquidation of American securities owned abroad has been of negligible proportions proportions pro pro- portions so 60 far thiS thit year er This conclusion Is based on ou a I study of tho the weekly report on foreign balances stud reported by m member banks to the federal reserve system The decline of ot these balances has proceeded at approximately the same rate rte as a the outflow of old gold Indicating that there Lhee has hI not been any general net conversion of Amerl American an securities owned by foreigners Into cash to tobe tobe tobe be left lef here as a term short balances or to tobe tobe tobe be withdrawn Formation of a committee to protect the holders of the Consolidated Machine Tool corporation of America first mortgage 7 per cent bonds due on J June 1 1043 1042 4 has been n cm effected c following I ln na naJ a statement eJ by the president of the corporation t that the In Interest interest In- In terest amounting to due on June 1 1 could not not be paid