The Birmingham age-herald., 1924-10-21

cember, according to H. B. Byram, pres- ident.
 In view of the higher prices now quoted for silver and lead than earlier in the year it is expected in the street that the American Smelling and Refin- ing company will earn more the second half of the current year than 1t earned the first six months. On that basis, 1t Is said, it's total net available for divi- dends this year should be in the neigh borhood of $14 a share on the common stock compared with $SS4 a share earn ed the full year 1923 and with divt- dends of $5 year.
 With the declaration of the regular quarterly dividend of $1.25 on the com mon shares of Stewart-Warner Speed ometer Corporation today it was an- nounced that the cOmpany's earnings in the third quarter were equivalent to S1.37 a share, compared with $1.OS "a share in the preceding quarter and $S.S9 share in the corresponding period of 1923. - 9'
 National Biscuit company today an- nounced an offering of common stock to employees at 6S a share, limiting in- dividual subscriptions to five shares. Payments would be permitted on an in- stallment plan by which employees pre-
  stock. The company's common shares recently have been selling on the stock exchange above $70 a share.
 The Moon Motor Car company to date has earned the annual dividend of $S a share, according to an official Of the company, who estimated 1924 earnings would be slightly better than $4 share. This would compare with $4.65 a share in 1923 and $5.01 a share in 1922. The company has no bank loans. A deci- sion on the pending merger with Gard ner Motors is expected in few days
 The American Brass company has ad- yanced prices of sheet brass one-quar- ter cent; eamless brass tubes halr cent and sheet copper quarter or a cent
 The strength of Lehigh Valley was said to be due to belief that the ques- ton of consultations of railroads in eastern territory had been settled In the main as an outcome of the recent con ference of executives with the interstate commerce commission. It Is expected Tn financial circles that the Lehigh valley will go into the New York Central. The latter is believed in the street 10 nave abandoned it's fight for the Central Rail way of New Jersey, which, it is de- clared, is likely to go to the Baltimore and Ohio, The expectation Is that the New York Central will offer one share of it's stock for two of Lehigh Valley. That would make the merger value Of Lehigh Valley around $52.50 at current market prices.
 Increased demand for transportation facilities resulted in a still further de- crease in surplus freight cars available on October 2, the total of 103,7SO being 12 959 under the number of September 3O the American Railway assocation re- ports. Virtually no car shortage is be- ing reported.
 On January 2, 1925, the Standard oil company of New York will redeem all of it's $26,OO0,000 2 per cent serial gold debentures dated January 3, 1921' at 105 and accrued interest.
 The Libby Owens Sheetglass company of Toledo, Ohio, has declared an extra dividend of 50c on the common stock payable November 1 to stock of record October 9.
 The strong financial condition of Gen eral Motors corporation is indicated in a gain of more than 50O00,O00 in cash account since June 30 to a total of SS4,- COG, 900 equal almost to 80 per cent of the par value of the preferred and deben- ture stocks aggregating $109,OO0,OOO. 1n- ventories have been reduced from $14O,- OO0,O ,O0O to $10O,00O,0O0.
 The Amreican Smelling and Refining company today advanced the price of lead from 500 to S.25 cents per pound.