Show 1 y Wall Wal Street Briefs Brief V YORK July 21 r railroad f d t are reported por Er to t planning an exchange of two new 00 shares of 6 per cent preferred stock and L 3 In cash cul for tor three shares share or Of 4 per c nt firt first coil and two of 01 nw S preferred for each three shares chores 61 f 4 4 pel per cent Second preferred outstanding A meeting ot or directors may be S called i It was wa sald before the next regular meeting on August 24 2 gIve I ample time fOr approval al by stock stock- S holders holder and the I. I 1 C. C C. C before the end L of time year ear The cash cah distributIon to IC I preferred holders would be about aboul Tae Ts Baird Baird Television T corporation hal ha been ben incorporated In Delaware Delaware whO wih i capital ot or shares no par value The tint five fifty railroads to June earnings ha had aggregate net p p- p crating income income- Income ot of against for the same same numb number r it In InJune June last lut year a a decrease of 52 pe per r cent Net e in fOr these roads val as 5 Their June gross revenue dr drOpped 56 50 per cent Net In May fo for foral r all al roads reads was wa 25 2 per cent higher than thana a a year ago The company op crates a chain of 15 drug dru stores in In- In Is its net Income for tor the half hal 0 year to ne after aler Otil ld 11 charges charge from In the first tnt L-al L Of 1027 This was wa equal to 1 1 a share on the common against 5 5 cents cent S 1 share a a year rear ago Valley Net orrl operating railroad IJ for the e o of half aWe the y year k de dined to from fro ii In the the halt half o of 1927 Sales Sale ot of electricIty by y the I Gas and Electric System for tor four July 1 Increased kilo kio watt hours hour over the same sam period Isa lt t wat war a. a The Increase In the New territory was wa m marked John 4 Thompson company ln restaurant earned 7 a In th tho first half of 1325 agaInst 20 a a shar shat 1 In iii the fut halt half o ot 12 Net et proC declined to from mSG STATEMENT NEW YORK July Il 5 AP The w wC kly statement of the New lew kl Clearing HOuse shows bow T TOts tal purples P and u undivided IV O os' os increase r net demand a deposits s1 decrease ue de dc po posits a average eriel increase CI Clearing week eek ended Jul July 2 25 55 week ended July 21 21 Clearings this day |