New Britain herald., 1924-04-30
Wall Street Briefs

New York, April SO.--While the irst 50 class one railroads to report heir March income show combined gross and net above the total figures for February, most of them are run hing below March of last year with the big systems the chief sufferers. New York Central's gross was s4,O1T,- poo below last year, Atchison's showed \ drop of $2,36S.00O; Baltimore & Ohio of $3.o71,OOO and Erie of s1,- D04,00O. Thus far the best group showing has been made by the carriers, particularly the smaller systems.
 Kentucky Coal Offerings.
 An issue of s5,O00,000 West Ken lucky Coal company first mortgage : per cent sinking fund gold bonds, series A due 1s44. led the list of new today. The bonds are priced at par and will be secured by a first mortgage on properties ss- sessed at more than sl1,0O0, 900. Others were A new issue of s3,5eO. .O0O United Light and Power company first lien and Consolidated mortgage gold bonds at 80, to yield ego per cent and 750,000 Fort Worth. Texas 5 per cent bonds at prices to yield 40 per cent.
 Profits of S5.Sfg.35O
 California Packing company reports net profits of s5,3l9,350 for the year ended February 2a. against ss,16s,ssa in the previous corresponding year.
 Rates Go Up Tomorrow
 The increase of about 20 per cen' in number of ocean freight rates which goes ino effect tomorrow has revived interest in the shares ot shipping companies which are begin ming to recuperate from a period oi sharp depression caused by the in creased competition resulting from tn, number of new ships constructed dur. ing and immediately after the war and the falling off in business after the collapse of the postwar boom.
 Merger In New York
 Wall street expects definite new, this week on the merger of the Fiftf Avenue Coach Co.,. the Chicago Motoi Coach Co. and the St. Louis Motoi Coach CO. Preliminary reports stat. that only the operating companies will be joined, the manufacturing properties being conducted as separ ate units.
 May Fay Dividends
 The Pacific Cast Co. earned net in come Of s1is,5o2 in the first auartei of 1924. A statement to stockholderi said that resumption of dividends or the first preferred stock seemed prob able in the near future as the com rany's financial situation had i'm proved.
 Imports of Gold.
 Imports of gold into the Enite' States in March totaled s5t.000, ,o0I bringing the aggregate for the nrs quarter of tho year up to til2eSs, 900. the federal reserve bank of Ney York reports. Exceeding in. amour of gold imports for any quarter o last year. the total for the perio' with sss,ssi. 900 of tho frs months of 1928. The bulk of ship ments came from England.
 q. s. Steel Reaction,
 Although earnings of the r. Steel corporation for the first thrs months of ia2s did not meet the er pectations of all persons in Wa street, they were the largest in an peace time quarter In the company history. After a charge of sis.a7t, 7a2 for depreciation was dedncte from the total net of t5o,o75,t4s q addition to interest. regular and exir dividends. there was still a balanc of sis,7iS,624 10 add 10 surplus. Thi figure alone would more than cove dividends. including the so cent extra for three months.
 American Gas and Electric.
 American Gas and Electric report surplus of sl.7s7,7s5 for 'h. yes ended March sI against ss.ss7,4so fl the previous i2 months
 tts r. C. Increase in Profits.
 Net earnings Of the Paige -Detroi Motor Car Co.,. in the first quarter c 1a2s were Os22.an.. an increase Q 1is per cent over tho same quarte last year. This is equal after prefer red dividends to si.s7 s share in fh common stock against s4 cents share a year ago.
 Missouri Pacific.
 March surplus of the Missouri pa rife railroad was s24a.727 compare with a dehrii ot sto2,os7 in Marei 1928. The road showed q surplus 1 the first quarter of s5ni.k5n arain' a defeit of s1.4zi,oiz in the sam period of 1928.
 shows Rig Balance.
 trtsh Power < Light reports q hal snee after taxes and charges of s2. 5os,I7o for the year ended March 8 compared with s2.oso.s57 in the pre- uons corresponding period.
 Studrbaker Profits.
 Net profits of the Studebaker cor poration for the first quarter of 1924 before taxes, were sI,o3s.s2o agains sT.oss.454 in the same period Ia. year. <. F. Erskina, president Of ih corporation. said this years profit would have been sbont ts.l0o,ono c ,i,4ho.n .nOO more had last years basi of charging dealers discounts bee followed this year. Business in th second quarter is proceeding in BOO