New Britain herald., 1924-05-19
Wall Street Briefs

more than sf00, 900, ,000, it is calculat. cd by the National City bank of New
 York. The figures for 1924 are aboul
 se,OS6, ,ooO.OO0. Nearly every class ot manufactures. except cotton goods shared in the growth. big gains not. ably having been made in exports to Asia, Oceania and South America. In view of The plans of the Missouri Pacific railroad to acquire large block Of stock of the New Orleans Texas & Mexico railway, it is believ- ed the 10 per cent stock dividend re- gently voted by the Gulf Coast line will be approved. The Missouri Pa cific's offer, 1t is understood, is con tingent upon delivery of an additional amount of stock later to give it con ' trol by an increase in Gulf Goa st g capitalization, according to railroad men. might jeopardize Missouri Paei- ilc's chances of obtaining controll- ing interest.
 The financial district is expecting Mills company to declare a stock divi- dend of 5 per cent or the common stock at their meeting May 27. Pres ent plans. 1t is said. are to distribute | the recent increase Of s10, ,0OO. 900 in the authorized issue. s95 par, in 5 per cent annual instalments.
 The American Brass company has reduced prices of Copper wire 5-s of a cent a pound.
 Brown Shoe C., Inc. reports net profits of s249.2ls for the six months ended April 80.
 Offering Of nearly s,,00o, o,ooa in new bond issues were led today by s. 5000 state of Missouri soldiers bonus 4h per cent gold bonds at prices to yield ( to a.sh nor cent dated Jan. and maturing from June 1. 1925 10 1924.
 Operating revenue of the Canadian n PacihcRailway from the first of the year ia the second week in May to- tailed s9,sio,ooa, A gain of ss,sts,. ooo over the corresponding period nf 1928.
 The Michigan Gas < Electric Co, after payment of dividends on inc ' per cent prior lien stock snd the S rer cent preferred stock, had earnings Of fs0,s4s in 1928. equivalent to SSH a share on the common Mock. Gross earnings were s722,ss3, an inct.ss. of is,s per cent over 1929.
 The railroads of inc country had li.4i0 locomotives in need of repairs on May I. a decrease Of 7hi since April IS, the American Railway asso. ciation reports. In tha last haiy Of April @9,e9l were' repaired and turned ont og shops, an inercasa of Ssb compared with the first half Of that month.
 The Edie railroad enjoyed pros porous first quarter, reporting sur plus Of sit7s,7s7. excluding earnings of the Chicago & Erie, compared with a surplus of si,s3A3Ts in the first quarter of 1923.
 New income Of sssi,sss in 1928 compared with loss Of sss0.2s4 in 1929 is reported by the Wickwirs Spencer Steel corporation, This is equal to s4,57 a share oa the per cent cumulative preferred stock. Sales aggregated t21,sis.26s. an in- crease of more than sio,ooo,Ooo.
 Reports of increased distribution to be made this year by many leading railroads have directed attention to the fact that Of ihe Ave changes in railway dividends in ias4 all have been favorable. The New Orleans, Texas S- Mexico declared q stock diyi. dend of 10 per cent. Soon after, the Southern Railway inaugurated diu- dends on it's common stock at the rate of s5 share. The Big Four" ad- vaneed its stock from a ,l annual basis to ,s. The Atlantic Coast line last week voted an extra dividend of s1 a share, payment Of which virtual ly was provided by an increase Of inc same amount on Louisvils X Nash vile stock.
 Earnings of the Buffalo Rochester < Pittsburgh railway since the first Of the year totalled s5.s5i.5p2. A de- crease of 's.i1s.iii from the same period last year. sharp decline of s220.s3s is reported for the second \ eek in May.
 The new Polish 1loty. it is an- nounced. will replace the 1fark as the official unity of Polish currency on ] July i. The new exchange has a con- version value of si,SG0.oO9 paper ! marks. and payments will be made al ! this rate until June 20. Conversion privileges. however. will be extended i to May s. 1925, although marks will 1 have no monetary value after July i. l
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