New Britain herald., 1924-07-09
Wall Street Briefs

Nss York, July s,-EaTly capita
 TiadiastmeHi of American Water
 works and Electric, through eallins
 the per cent participating preferred
 stock with resulting higher earning.
 on the common shares, is understood
 in the financial district to he Tesp0n-
 sible for thss purl above iN4 yesterr
 day in a generally bueyant market
 The common shares sold at ia esrly
 in the year, The advance in the pub,
 lie utility section was shared by Phll-
 sdelphia company, BFaekyn Union
 Gas and West Penn, Power,
 RumOns of another steel merger
 have reached Wall street, linking Rer
 public Iron < Steel with Gulf States.
 Both companies have interests in the south, Reports of negotiations acted
 fayarshly on stock market trading,
 Roth sssuas advancing point or more, Although official confirmation was lacking, steel ststistieians were af the opinion that a combination nf that kind might bring economies in producing costs
 An i-ls Of sis,00O, ,0n0 industrial mortgage Bank af Finland ist mort. gage collateral rer cent sinking fund gold bonds Is offeredtoday at aS and accrued interest to yield about 7ls per cent, principal and interest being guaranteed by the republic of Finland, others included ih.0o,o0 Los Ange. les county flood control district s per cent bonds at prices to yield ( 10 f.6s per cent and s3,000.0 .00O state of Mich. igSn { and { i-f per cent bonds part offered at par and the balance on i,0b per cent hsssi,
 New common stock Of F, w. Wool worth Co. tsS par value, was placed on a annual dividend basis today when directors declared quarterly dividend Of TX cents payable Sept. 1 Ia stock Of record August 9. Quar- 'erly payments Of ss had been made ,n the si00 par value common which was recently spit four shares for one.
 Southern Railways new high price or all times of 66 which it crossed was accompanied by rumors fl an increase in the annual dividend ates to s6 which were discouraged by ,ankers. however. on the probability i hat earnings this year would be malleS than the sio share earned | n 1923, Although 1a2i business had | lot equalled last years the roads i arnings in the first five months of | a24 and its equity in the undistrib- ted earnings of Its subsidiaries. to s4.9S share on the ommon stock. almost the annual re- uirement for the common dividends.
 The National Biscuit Co reports rofits of ss,5745S2 in the first half 1924 compared with s5.s3c,564 in ,e corresponding period last year.
 Sales of American Hide X Leather 0. in the second quarter of 1924 de- ined less than per cent from the rst quarters rate of about s1s,0o0,- 10 annually, compared with s14,Cf0,- 10 in 1923, Profits were stlbstan- ally less, however, than the s20o,- 's for the first three months of the gar. Loss of s1S9,134 was reported
 the second quarter last year.
 "Shutdowns of both steel purchas- lg and steel consuming plants in the ast week and the absence of buyings { ave left the trade without indication { any new tendency" Iron Age says. t was expected that with this mid ( 'ar closing of, mills some business I ould accumulate, but in the absence l
 reports of additional capacity start g up, there is no reason as yet to I ok for a larger output in July than I at of June" I Pig iron Is now s1929, the lowest lint in more than two years The on Age composite price having fallen \ om s19.SS last week. It was s26.o4 N e year ago \ Finished steel remains at e5S9 cents \ r pound, the Iron Age composite \ ice showing no change from last \ eek. One year ago the figure was \ 1S9 cents.