Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-24
Wall Street Briefs

LOadlnS OIL revenue IrelRnt LOT the
week ending July ~, totalled 910.415
cars, an increase Of 150,473 over the
preceding week, but a decrease of
109,394 compared with the same week
last year, the American Railway AS
ISOLATION reports. All districts re-
ported increases over the week be-
fore in the total loading of all COM
modities owing to the observance of
Independence Day. Only the south
western district reported an increase
ever the same week last year.
New life developed at the Union
Pacific post largely on talk Of a
possible distribution of assets in one
form or another. Possibility that
shares Of other roads accumulated
during the life Of the late E. H. Har-
riman, whose ambitions for the COM
pany were for coast to- coast trans
continental line, might be distribut-
ed to shareholders, was the gst of
the gossip on which no word was
forthcoming from headquarters in
the absence of officials. Incidentally,
as Union Pacific forged ahead, there
was protit-taking in Canadian Pacific
and the price separation between
these two was one per cent.
A renewal of efforts in behalf of su
gar stocks was we'll scattered through
out the group. South Porto Rico Su
gar jumped several points on light
sales, while American Sugar, Cuba
Cane preferred, Punta Allegro and 9TH
ers bettered themselves on the tape.
Technically. the street believed this
group was entitled to further consider
alton as the representative issues were
hah ind he "a
Virginia Iron, Coal & Coke Co. re-
ports net loss of S45.406 for the six
months ended june So against net
profit of $35S.543 in the first half of
1928. Net loss in the second quarter
was ISL 100 compared with net profit of
s1149S4 in the corresponding period
last year.
Net operating income of Chicago e
Alton for the first half of 1924 dropped
to s1,S66.S30 from S23S9,o24 year ago.
June net was S355,06S against S525,424
ip June 1923.
Buying of copper stocks was stimu-
later by news that two of the large
selling agencies were quoting copper
metal firmly at three cents a pound
delivered. 1t was said large sales had
been made this week at rs. at which
price all sellers are now holding their
metal. Demand was said to continue
much larger than a few weeks ago.
The price Of Is cents quoted by the
larger agencies was the highest price
for the metal on the current movement.
The two factors in the market were the
prospects of European settlement and
the reported decrease in production.
Simms Petroleum Company had
net proft of s1,654.S66 in the first
half of 1924. equal to s2.41 a share
on the capital stock, compared with
earnings of 90 cents a share a year
ago. Current assets were s4.573,122
and current liabilities $372,s26.
The B. r. Goodrich Company's re-
port today covering operations for
the first six months of the year gave
Wall Street definite idea of the ex-
tent to which the tire business had
fallen off. Net sales of the company
for the period were $50,137 500. Dur
ing the corresponding period last year
the company's sales reached $54,-
074.S25. Net profits the first six |
months of this year were $2.755,016
compared with $3,006,3 S4 a year ago |
Net profits this year more than COW |
cred the preferred dividend REQUIRE |
ments for the full year. An official |
of the company said business was
very good now, although prices were |
low. The directors declared the reg
ular preferred dividend,