The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-04-05
WALL STREET BRIEFS

Untitled orders of the United States
Steel corporation for March to be made
public next Thursday are expected to
below these at the end of February. The
corporations shipments in March were
close to $4,000 tons day, or near the
established for short time in 1917.
steel men report a hand-to-mouth policy
on the part Of buyers
South, Pennsylvania Oil company re-
ports net loss Of s93s.9S5 for 1923 after
taxes, depreciation and depletion, against
net loss of $1,265,S37 in 1922. Profit
and loss surplus was sos. about
s939,ooO less than the year befcSe.
Right from the opening Erie first pre-
ferred occupied q prominent position in
the trading list with the stock crossing
IS for the first time this year. A. pool
which appeared to have its basis in good
earrings revealed for the past year and
a good outlook for 1924.
+ The American Smelling and Refining
company today reduced the price of lead
from SC to SIC per pound.
Bankers in touch with the reorganiza-
ton of the Virginia-Carolina Chemical
company and its principal subsidiary, the
1t may be long time before definite
plan is agreed upon. Three committees
representing holders of the company,s
mon and preferred stocks. are now at
work mad will hold joint conferences when
Investigations of all the properties are
completed. 1t is expected the capital
375,000 or equal to the present bonded
indebtedness.
That New York Central might be ex-
pected to be among the leaders OF the
rails was brought to mind in the CONFER
sion privilege of its debentures. 1t has
been expected. at least, in speculative
circles. that elevation to a seven per
cent dividend rate Of its shares would find
ton in the stock, but as a factor it fell
flat.
Standard Oil of New Jersey. preferred.
went into new high ground and this
strength brought to light the fact that
there had been rather persistent inquiry.
largely from out of town. as to the rel
alive merits OF this and other members of
the Standard family.
1t was made plain in houses where
they keep close tab on the cotton market
that Wall Street was. dividing Its atten-
ton between securities and cotton with
similar actions apparent in each. On
top Of stiff covering movement, cot
ton was advanced to price level some
$40 a bale over ten days ago.
Missouri Pacific. preferred was one of
the active participants in the list of rail-
earning position was largely responsible
for the strength therein shown. TO
date. there has accumulated In unpaid
dividends on this stock nearly s29 a
share.
With no apparent slackening in the de-
mand for. manufactured tobacco products
and slight probability of an advance in
raw tobacco manufacturers are looking
forward to better earnings this year than
last. Cigarette production in the United
States the first two months of 1924 in
creased IL per cen over the same period
In 1928 Manufactured tobaccos and
snuff production also was larger than
the 1923, rate. Cigars, however, showed
drop Of per cent.
Prairie Pipe Line company reports op-
Grating income for 1923 of $l5,Sl8!s6e aft
or expenses and federal taxes against
S19.330.427 in 1922. Gross revenue was
sS1,436,O6 4 compared with $37,141. s61 tho
John Bennett. IT years superintendent
OF the Prairie Oil and Gas company. has
Joined the Skelly OIL company as superin-
.tendent in charge of production.