The Birmingham age-herald., 1924-03-27
MARKET FLASHES

of sales G s.
 MARKET FL.A6HES WASHINGTON, March :. 2s.- There were s7,742,143 cotton spinning .,spindles ! in place in. the, United States on Feb Nruary i29, of which 32 ,6SB, ,7s4 were op- compared with 33,339, ,s06 operated in January, the census bureau reported today
 NEW YORK, March 2s.--Weather |esnditions are influencing security and Eeommodities sales. Favorable weather ! in the south which has benefited the |growing crops has been partly respon- sibIe for tho recent decline in cotton kfutures. One report says annission of Ethe extra dividend on American Can Ewas due in part to drought~i in western Fruit growing territory. SHREVEPORT, La, March 2s.-A &cut of 15 cents per barrel in Smackover |crude below "A gravity. reducing the squotation to s5 cents, has. been posted T by the Texas company, which also scut other Srnackover crude. 10 cents a barrel. --,g.'.s
 NEW YORK;. March 26.--AdditionaI
 
 Aay continued to. show substantial in- creased in earnings over the cor responding month last year, The Sea- board Air Line report net of $941 ,501 Ecompared with $557 7,5O1 in February, .ts2s. NEW YORK, March 2e--Labor sroubles in Mexico are a cause for see rious concern sto officials Of oil com panies operating. in that country. Pri- <vate despatches received here from #Tampico, state that d refinery, Of the Mexican Eagle oil company, a British concern, has been completely closed down.
 * NEW YORK, March S26.--So great is the demand for petroleun products hbroad that the entire fleets of the Standard Oil Companies of New York and New Jersey are in full operation. NEW YORK. March 2s.--wKen the ytock market closed tonight approxi- nateIy oHe-half. of the 15 per cent gain shown by the industrial average from November A to February had been Cancelled. While price< movements of Hhe next few days will be closely watch Ed for indications of major trend, nany observers believe that stocks will 1uctuate within a narrow area until
 
 ooks becomes more definitely estah ished.
 NEW YORK, March. 26,--While the weekly Iron Age report setting forth hat large scale operations are still the kule with the leading producers of steel," generally was regarded as bull lsh, some concern was expressed over The statement that "the slowing down f automobile output at Detroit by bout 15 per cent is substantiated." En- ouragement was found, however, in he announcement that railroads are 3ressing the mills for the rails they Eill begin to lay in April and for other keel called for by the largest program { F track Improvement in recent years"
 
 NEW YORK, March 26.-Pressure gain developed in American Can and he stock was hammered down points b withina small traction of the years bw point of 103A Opinion appeared D be divided as to whether the stock kas being readjusted to d $5 selling asis. To those of an iuquisitive turn mind the failure of the American tan board to order another extra divi- end affhfs time raised the question as to hat might be expected from the divi- lend meeting next month of the United tates Steel directorate. That a, similar tep was possible was condede, although here were, few apparent believers to N NEW YORK, March 26.--That there sas no unanimity of opinion on the tock exchange was made apparent in he varied views telephoned- to com-' hission houses by their board part CTS. Buy on all dips" was the advice. f one floor member against which was be suggestion to "seil on the bulges" osted in the customers room of a next GOT firm.
 NEW YORK, March 26.-Gross income { the first 16 railroads to report their. february statements totaled 9,599, 900, onpared with sos, ,305, 900 in January, Ind S91, ,97O,000 in February, 1923. Feb. nary net income totaled $14 .523, 900, an < hcrease of $3,120,00O over January and. h increase of $S,S33, 900 over February. last year.
 NEW YORK, March 26.-Stoelsh holders Otis Elevator company Will vote pril 2S on a proposed increase in com hon stock from s15, ,000, 900 to 25.000, 900 nd also consider a proposal to reduce he par value of the common shares tom S1OO to $50. with possibilities of Lock dividend. NEW YORK, March 26.-Varied yer Ions were at hand as to what might @ the effect of the Potncare resigna- on and while there were those who boked for an unsettled condition, there as growing opinion that with new Ministry, France consistently could yacuate fthe Ruhr is suggested in the awes report with an influx ae business ssulting therefrom to American indus v. NEW YORK, March 26.--American Rricultural Chemical broke to a new w and in it's establishment there was bund further cause for disappointment hong New England investors, who for ears had these shares among others
 their strong boxes. That the .3erti- Ter industry was not showing the romise that earlier had been anticipat-
 was the belief in banking circles, ho attributed success of the profess onal leaning to this source.
 NEW YORK, March 2s.-Ror-a time, btton futures yielded to selling pres lre and trade circles were insistent