The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-04-12

the United States last year more than
sSe,ooO,ooo worth OF agricultural ma
chineiy and implements, the largest vol
ume on record. It is expected by the Ma
tional City Bank OF New York. The
distribution went to more than 100 diff
ferent countries colonies and islands.
The beet sugar crop of the United
states in fS23-24 is estimated at 1e7.-
297~tons. an increase of more than 40.
vVO tons over the previous year.
Hugo SHINES. German Industrial lead
er, who died yesterday, owned no real
property In the United states despite re-
ports to the contrary. H. Hoilensen. Inc.
bis American representative. announced
today. When his son recently visited this
country. It was. reported BE had bought
OIL coal and other properties, but no Of
ficial confirmation could be obtained
The Great Northern railway saved half
million dollars last year by using oil
engines. President Budd said today in
talking of conditions in the northwest.
Stable business throughout that part OF
the country is anticipated for 1924.
Stockholders of the United Cigar Stores
company today approved change In the
par value of the $50. 100000 authorized
common stock from 500 a share to '$25
a share on an exchange basis of four
shares OF new stock for one of old. The
directors were reelected.
Directors OF Electrical Utilities today
declared a dividend of per cent on
stock of record April 80. A premium
payment of one-half of one per cent was
made in July. 1912.
Net profit of s4o34,sss in 1s2SNis re-
ported by the National supply company
TO s14.s6 a chsre on e41.s20' shares of $50
par value common stock. The balance
sheet showed working capital of ss4,-
942,71s.
simon Guggenheim, president of the
American smelling and Refining com
optimistic frame of mind regafding the
copper situation. He said he looked for
increased consumption this year.
1t was revealed by the steel corporation
that its floating supply OF common stock
as 1898 per cent of the total outstand-
ing issue was shown to be in brokers'
names against 20.62 per cent as last year
closed. That the greater part Of the in ;
creased floating supply was on Manhat-
tan Island rather than among outof town
brokers was indicated in the statement
in comparison with 1880 at the end OF
December.
AS stocks of western origin came un-
der attack it became noised about in
commission houses with wires to Chicago
that an operator of that city doubtless
was playing hand which at the moment
seemed to coincide with that of the Wal
dorf crowd. His speculative attention us
uaily was linked up with the grain mar
ket, II was said, although he had ven
tured into stocks with varying success
As gtewart-Warner started to break
inquiry was made over a commission
house wire as to the sources of selling
and word came back that the years new
low might be attributed to a concentrated
professional drive. 1t was assumed that
any slowing up in the motor industry
naturally would be reflected among the
makers of accessories and this was used
with telling SucGeSE at the Stewart w mr.
ner post.
Unusual weakness developed in Amer
lean Metal shares sas they slumped al
most two points to new low. Since its
entrance to the stock exchange list this
stock never had been made active and it
was assumed that the source of current
selling was due to forced liquidation. As
its name implies the company covers the
metal industry in its operation which in
clude mining and purchase of ores and
refining and selling of the finished prod
ucts.
A noticeable price trend was that
shown by Anaconda and it's controned
Chile shares, the former stiffening some
what at a time when slight selling oc-
CURED IN the latter. 1t was rather diff
cult to attempt a diagnosis Of the cross
movement, as they were contrary to what
might be expected from result of their re-
spective operations and accomplishments.
The drive against Montgomery Ward
shares was not Immediately traceable to
BUSINESS SOhultiohs as tniS company mad
been showing expanding sales in the face
OF contraction revealed in Sears-Roebuck
figures.
1t was learned that the General Petro-
leum corporation had made application
10 list Its shares on the stock exchange,
thereby aftording an eastern market for
securities of this strictly western concern.
It's common stock pays per cent diyi-
bends. of which there is outstanding $26,-
100000 of a. $47, 000,00 authorized
amount. Coming at times when efforts
group in speculation, it was assumed that
this important producing factor might
meet ready reception