Index

Wages. Because copper is selling for 15-c- and more a pound, leading Arizona copper mining companies--notably Phelps-Dodge, Calumet & Arizona and Shattuck-Denn--have increased employes' wages by 10%. Miners will get about $2,500,000 more a year.

Car loadings numbered 1,138,312 the week of Sept. 15, the greatest number so far this year. Grain, livestock, coal, merchandise are moving in great quantities.

Foreign Loans. Various German organizations are negotiating to borrow $100,000,000 in the U. S.; Greece wants $75,000,000; Hungary $5,000,000 (for its Reformed and Lutheran churches). President Charles Edwin Mitchell of the National City Bank (Manhattan), last week told German bankers that $150,000,000 of foreign bonds offered in New York have remained unsold. That condition will doubtless force new foreign borrowers to offer high rates of interest (7% or more) for new loans.

Money for stock exchange deals bobbed up and down last week. It fell to 6%, one per cent higher than the Federal Rediscount rates. Stock gamblers borrowed heavily. When they wished to renew loans to support their speculations the call rate scooted up to 8%. Nonetheless trading continued heavily, and the rate became 10%.

Broom corn grows in sandy Kansas, Illinois and Oklahoma soil. It is still a valuable crop, despite vacuum cleaners' wide use. The U. S. crop this year is worth about $4,000,000. Last week growers set up a cry; they need harvest hands at once, else the crop may be spoiled.

Seat. Samuel Ungerleider, 43, like many young Hungarian Jews who migrated to the U. S. before the War, went first into the liquor business here, at Wheeling, W. Va., and Bridgeport, Ohio. In 1920 he organized his brokerage and investment banking firm at Cleveland. Last week he sold for a nominal sum his seat on the New York Stock Exchange to Emil Jay Roth of Cleveland, his nephew. Tyro member Roth was 21 last July 4, and is the youngest member ever admitted to the New York exchange.

Dividends paid during September totaled $277,666,833. For August the total was $321,208,644, for the 1927 September $242,000,841. A half billion dollars is the estimate for dividends and interest paid to investors during the last few days of September and the first few of this month--$125,000,000 dividends on stock of about 500 companies, $375,000,000 interest on bonds including Governmentals.

Stock Trading on the New York exchange during September was larger than for any previous month--90,906,718 shares. August trading was 67,703,538 shares.

Russian Coal to Boston. Boston is close to 5,000 ship miles from the Don coal basin of Russia; Boston is about 300 miles from the anthracite coal mines of eastern Pennsylvania, about 600 from the bituminous deposits of Western Pennsylvania and of West Virginia. Yet the difference between production and shipping costs is enough for Boston to buy a shipment of coal from Russia.

Dining Cars. To operate 156 dining cars last year cost the New York Central $7,032,798. Income was $5,760,338, loss $1,272,460.