Salt Lake Telegram | 1926-08-02 | Page 12 | Market Briefs

ii I Market Briefs Briefs- I NEW lOEW YORK Aug 2 AP With AP With the investment In market feeling its customary summer Inertia new bond lond offerings placed on the market today totaled less than the smallest aggregate regate for any Monday In months Most 1 of or these were municipal Issues led by an offering of or for tor the city of ot Salem N. N C. C Several larger corporation Issues are scheduled for appearance appearance ap ap- ap- ap later In hr the week Tho The United Drug company in the six months montha ended June 30 earned ashare a ashare share on shares of or common stock a all as compared with on shares during the first halt half of last year The North l American company and Its subsidiaries earned 3 40 a a. share on 3 shares of ot common stock during the twelve months ended June 30 This was slightly less than during the preceding ing ing- year when earnings were on shares lousiness Business cycles In the United States are shorter than titan In any other country says a 0 survey of ot seventeen countries now nearing completion l DY by y the national bureau bureau bu bu- bu reau of ot economic research The average duration of ot a American cycle Is four tour years as compared with 5 54 4 years for forthe forthe the sixteen other countries the sum sum- mary declares Thus far Car the Investigations investigations have not r formulated a a. definite reason reason rea rca son for tor the difference A canvas canvass canvas of ot several representative I commission houses bouses in the financial district district dis ella Indicates that the floating supply of the common stock alock of Dt the United States Steel corporation has continued to shrink In the last two months One house re reported reported reported re- re ported that since steel steal crossed stock carried for tor customers has dwindled d to about 25 per cent of ot normal Another said its holdings of at Steel common dropped to 10 per cent of n normal but rose again to about half halt the usual amount At one br brokerage house It was said there had been little change in the total but that virtually all small lots had passed Into the hands of at larger Investors