New Britain herald., 1924-08-13

ing of these issues contained with fur
 iher liquidation and profit-iaking in
 other sections Of the list gave the market q decidedly uneven tone, For the first time in recent sessions, sell.
 ing rather than buying orders were
 Irresponsible for the "million share
 days"
 Germany has purchased i,00o,0a
 ounces Of silver from American pros
 ducers for coinage purposes, it was lHnnouneed today, This Is the second large purchase of silver by European
 governments within a few weeks, Pos
 land recently having bought 6,tee, 900
 ounces. The American companies par Itieipating in the sale are The Ameri-
 can Smelling & Refining O., The
 United states smsltlng & Mining Co,
 the Anseonda Copper Mining Co, and
 te American Metal Co.
 indicates a measurable increase from
 week to week in the output of rolled
 products. the iron age says.
 The composite price for finished
 steel this week fell from 2,b2i 10 ?.s17 cents per pound. the lowest figure since January. 1923. Tho pig iron composite price. however. advanced to s19.Ss from sia.2e last week, which was the lowest figure In 2s months.
 Freight traffic in the first six months of 1924 was more than Q per cent below that for the corresponding period last year when freight business on the railroads was the greatest for that period of the year In history. the bureau of railway economies announce ed today. Reports of the carriers showed that in the first half of tho year freight traffic amounted to 2o4,- 6S6.000 net tons miles, about 2o,000.- 900, ,000 net ton miles below the cor responding period last year.
 The first note of dissension among railroad interests involved in the pro- posed $1,500,000,000 Nickel Plate merger engineered by the Van Swer- ingen brothers of Cleveland has been sounded by minority stockholders of the Chesapeake & Ohio railroad. Dissatisfaction with the terms semi- officially outlined for an exchange of stock has led the minority group to consider formation of protective | committee, but action Is being with held pending the submission of formal offer. The controlling inter Jro e n1,;N is held by the Van Sweringens.
 Virtual completion of the Baltimore 6 Ohio railroads large refunding pro- gram through the sale of $75,000,0o0 first mortgage bonds leaves only two financing operations of simi- lar character and size to be cared for Haven and St. Paul railroads are con- fronted with sizeable maturities in 1925. Bankers for the St. Paul are said to be considering plans for re- | funding its obligations this year
 Net profit of the Hayes Wheel com oany for the six months ended June 70. after harvest, depreciation and Texas, was $416,c3O equad to s1.76 a ;hare on the 197,040 shares of no par ,alue common stock. During the pre- l 'eding half year earnings on the com- non stock were equal to sS.92 hare. reduction ref1ecting the de- pressed condition of the automo obile business during the recent period.
 Charles F. Mitchell. president of the National City bank, will sail for Eur 'pe this week to join the large colony if American bankers abroad. AL hough several prominent financiers including George F. Baker and Otto i I. Kahn, have returned recently. the Inited States is still represented by an imposing list, headed by J. P. Morgan nd Thomas W. Lamont of the Nor I an firm. I
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