New Britain herald., 1924-12-30
KaN Street Briefs

Holders of common stock on the looks Of the United States Steel for the December dtvi- lend total 96,Sl7. a decrease Of goo under September, Preferred share holders who participated in the November dividend numbered 7s.. 5l4 compared with 7s.962 in August.
 Sterling exchange win close the ear about 45 cents above the rato Of l year ago, and within three cents # the begged price established dur ng the war and maintained until Iarch 1919. The approach of ster- Ing to within lS cents of par has 'aused widespread discussion in 'anking circles with opinion divid- d as to how much support is ieing provided by the British gov rnment. Some dealers inted ( hat with the bulk of the grain and otton billG out of the way. a rise n the rate Is natural at this season f the year, but in other quarters ak was heard of important accu- mutation" by three large banks.
 The Standard oil company Of New York will pay off s30.000,00O Of ' per cent notes on January 2.
 stocks in which several banking groups have been making a market for years are said 10 have passed from their hands to the trading ele- ment and the public In the volumin. ous transactions since election. This was cited as one reason for the fail ure Of brokers loans to show an in. crease proportlonate with 2,0oo,o DOC share days.
 November net operating income oi The Canadian Pacific declined to $6,. 029,8Sl from $6,1l0,470 in the same month last Jear. Gross revenues fell moro than s4,000,O00 to slS,. lO0.945. Net for the II months however increased nearly $1,000, ,0oC to $33,497,940, while gross dropped almost s1o,00o,000 to $l66,sll,9s3
 Due chiefly to the relatively ema
 orders received in 1924, the rairoat equipment industry looks forward tC better business in 1925. Large amounts were expended on equip ment in 1923 and the carriers were not required to buy the usual quan' tity in the last 12 months. HeavS traffic, the wear and tear on lOComo !,tives and cars in recent months, th' greatest on record. coupled with th' improved financial conditions 0 | most of the roads, has caused equip ment manufacturers to expect larg' orders early In the new year.
 Great Britain's imports of cottoI from the United States this year uI 10 November ?S increased to 76S,00( bales compared with 571,000 bales in the same period last year ac cording to the Bankers Trust com pany. Total imports were i,0S9,o0N bales, an increase of l46,0oo bales l Conditions in the Lancashire cottol industry were said to be distincti! more favorable.
 An extra dividend Of per cen in addition to the regular quarterl disbursement of per cent has bee declared by the Alliance realty com
 pany, both payable Januark l9 t' stockholders of record January 10.
 Stockholders Of the American i Beet Sugar Co. will hold a specia meeting January 70 10 authoriz issuance of s3.50h.000 sinking tunt 1 10.year convertible debentures partly to finance acquisition of tn Northe Sugar corporation and tn Minnesota Sugar Co. for an aggre gate of $A4%7,S4t, The compan, recently arranged bank loans O s4.500, 1000. Stockholders also vii be asked 10 approve issuance 0 10000 additional shares of com mon stock and replacement of 50, 900 shares of six per cent non cumulative preferred, share fo share. The remainder of the si
 per cent non-cumulative preferre' will be retired as the law permits.