Notes

Million Cars. For railroad men the week of March 12 became significant as they learned last week that for the first time this year they had moved more than 1,000,000 cars of freight--1,005,715. Last year the first 1,000,000-car week did not occur until May, and in 1925 not until July. During the first eleven weeks of this year 10,349,326 cars were moved.

Italian Financing Credit Consortium for Public Works, the institution created by order of the Italian Government to finance Italian shipbuilding, tried to borrow $12,000,000 in Manhattan last week, and simultaneously $8,000,000 in London. The Italian Government is now considering the creation of a stock company, under patronage of the Export Institute, to give commercial credits to exporters of Italian goods.

Roxy-Fox. William Fox (Fox Film Corp. and the owner of 30 cinema theatres) last week bought Samuel L. ("Roxy") Rothafel's new Roxy Theatre, largest cinema house in the world (6,200 seats) and eleven more "Roxy" theatres now abuilding, for $15,000,000. Twenty years ago William Fox began business with the smallest theatre in Manhattan (146 seats). One Herbert Lubin is "Roxy's" money backer.

Stocks. When Secretary Mellon speaks optimistically of U. S. business and credit conditions, as he did last week upon sailing for a brief vacation in Europe, buyers of stock exchange securities become optimistic. Their enthusiasm last week pushed the price of U. S. Steel common stock to 165%, General Motors to 182 3/8, Du Pont to 216 7/8 Delaware & Hudson to 195 1/2. These were record quotations for these important securities.