New Britain herald., 1924-05-14
Wall Street Briefs


 New York, May l4.-Despite .he threatened withdrawal of Mexico from the debt agreement negotiated by Adolfo de la Huerta in 1922, in- ternational bankers are planning to continue interest payments on the bonus involved. Approximately sS,- 10000 has been distributed on s3 per cent of the total and about an equal amount remains on deposit with the international committee. oCmple- ton of the first years service on the remainder of the bonds is expected within fortnight.
 A semi-annual dividend of ss has been declared by the Northern Pipe Line company. The previous dividend was s5.
 Warner speedometer cor poratiop reports net profit of s1,496.- 100 for the first quarter of 1924, Equal to sS.l5 share on its no par value stock, against si,SaT,973 or s3.s4 a share a year ago. Profit and loss surplus was sfS,964,3i3 a gain of more than S4,000,0O0.
 In instructing the French minister of finance to take any necessary meas Lres to protect the franc from further depreciation, the French cabinet was aware that the StO0,ooO, ,OdO Morgan credit still was available for the pur- pose. Interests close to the Bank Of France, however, do not believe this fund has been drawn upon. The un- experiences of poincare's defeat. they assert, provided an excuse for selling francs short, but natural con- ditions soon stabilized the rate.
 New bond offerings today exceed ss.00o.Ooo. the largest being se,5o0.oo Salien County Coal corporation list mortgage 6 l-e per cent. .O-year sinking fund gold bonds, Series 4. at 9t 10 yield more than per cent others include sl,000,o ,oaO New York and New Jersey joint stock land tNewark. N. JD per cent bonds al i0t l-2 10 yield more than ESQ per cent to i23s and per cent to 1858; sse5, 900 New Hanover county. (N. co per cent. Courthouse gold bonds priced 10 yield 4.i5 per cent; s4a.s.- coo Clifton. N. J., , per cent coupon gold bonds, priced 10 yield 40 per cent, and si50.oQo North Carolina { s-4 per cent building bonds at prices 10 yield 4.e5rer cent. The se.000,0 ,000 Gereral Railway Signal Co. list mort gage so-year l-e per cent convert ibe gold bonds have been priced at 9S i.e to yield s.65 per cent.
 The General Motors Corporation had 9l,siT employees in March in it's plants located in SS cities in the United States. Canada and overseas. not including employees Of Fisher Body company and other affiliated companiesA This was a decrease of nearly 7.0on from rebruary's total. but an increase Of S,4oo over March, 1888,
 Atlantic Sugar rcfneries had net earnings ofseos,asl in 1928 compared with sis7.as5 in 1929. but profit and loss surplus wss reduced from ss,- o6o, Sit to si,iST,sto.
 The Southern Railway systems earnings of ss5.:ii.ti4 since the first of the year. show s decline Of s5,.iS,- ses.
 Now regulations for check clearing and collection adopted by the federal reserve board. have been forwarded 10 all members and non me Sber clearing bsnkr Of the new York dis trict. No essential changes have been made from the rule laid down in 1920.
 AS the stock market yesterday re- verted to the apathy so chsracteris- tic of recent trading sessions, Wall street. nsrrnAiiy indifferent 10 Euro pean afGirs e a market factor, be- gan to realize that jt had guessed wrong in showing concern over the probable effect from the French elec- iions. International banks were unan- irous in expressing confidence in Briand who 1t is expected will be the premier and were certain he would not depart from sound financial poll cics. Their views. together with fay- orable dispatches from abroad, brought about a quick readjustment Of wal streets sentiment.
 The committee headed by Robert l.. Dcsr has adoptcf a reorganiza- iion plan for the six per cent pur- chase money and per cent improve mont gold mortgage bonds Of the Rubber Culture 70. Holders Of certificates Of deposits have hesn notified that unless they dissentc1 from the plan within 30 days after May ii the committee would consider they had ratified it
 som. additional blast furnase and .tsel- -na king unit. have been p'it nn me igprti*e list hut the cIrtailment i. smaller than in the preceding week" Iron Age says. Buying has been not ably light in rie iron and fin- sited sesI. yef hArs and there sell IF reDorts orders at q better rate than .hst ar 10 da-s ago. That would be .asll:. roszil,ie without trs attaching ,s eizHihcsnce 10 ths cbs7ga.
 "as whole the steel industry ei bout s5 per cent of capacity or at the rate of ss.hoe tons ef infots a r.a-. Tn respect to pr,ess. there is no indication Of sn effort at stabili1a- lion"
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