davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1924-12-05
IRON TRADE REVIEW

CLEVELAND, Ohio, Dec. 4.-Iron Trade Review today says:
 Buyers of iron and steel having ever ed themselves against expectation of heavy requirements during the next three months, both they and the pro- ducers are noting each sign of increased consumption with sharpened interest. How the latter develops will decide the question to what extent this order tonnage will become liquid and the mills be able to operate against 1t. Consump- tion clearly has experienced some growth but the real expansion Is still to materialize. With prospective needs so generally anticipated, new business at present has subsided.
 Steelworks operations average around 70 per cent.
 November has continued the four months gain in pig iron production Despite the one day shorter period, it netted a gross increase of 51,520 tons and on a daily basis of 5.5 per cent. Total output in November was 2,513, ,427 tons, compared with 2,461,027 tons in October. November production was at the rate of 3O,50O,000 annually, compared with a rate of 29,O00,00O tons in Oc- tober. The gain in active furnaces, 21, was outstanding.
 The Lake Superior iron ore season for 1924 now virtually ended has been dis appointing. Total movement is placed at 43,623,572 tons. This compared with 60, 0,780,003 tons in 1923 and 43,990,096 tons in 1922. Ore men see good prospects for 1925 and are pinning their hopes on a 60,000, ,000-ton movement.
 Railroad buying this week has had mainly to do with track material and fastenings. The Pennsylvania placed g. 225000 tie plates ,or over Il 900 tons, and 10000 to 10000 kegs of spikes. The Mis- souri Pacific has placed 30,000 tons of tie plates, spikes and bolts. The New York Central is figuring on 5,000000 tie plates, or 25,000 tons, and 30,0O0 to 50,- 900 kegs of spikes.
 The automobile industry is feeling it's way. An analysis shows that for the first time since July, 1923, the number and value of new automobiles in the hands of middle western builders were less than the preceding month, or the corresponding month of the previous year.
 After the record-breaking total of the previous week, structural steel awards are lower but still make an impressive total. This week they amount to 50,627 tons.
 Pig iron buying has settled to mod considering the magnitude of the recent covering.
 The more stationary price situation has put Iron Trade Review composite of II leading iron and steel products at $39.58 this week, against $39.46 last week and $3S.66 the recent low week.
The Birmingham age-herald., 1924-12-05
STOCK AVERAGES CONTINUE CLIMB
 TO NEW RECORDS
Investors Find Signifi- canoe In Presidents Re-
 marks On Carriers
By EDWARD J. CONDLON (Rv Teaaad yVire tO Are-Herald)

NEW YORK, Dec 4.-From all out ward appearances,, the stock market has it's second wind. In one of the most active sessions seen since the present bull movement started month ago, the railroad and industrial stock aver ages today climbed to record highs. With the full significance of the Presi- dents remarks on the transportation situation weighed and found cheering by investors in all sections of the coun- try, the demand for railroad stocks with merger and increased dividend poten- tialities became insistent and prices stiffened accordingly.
 Days News Bullish
 The ficancial news of the day was replete with builish arguments. The fact that call money hardened at per cent was taken. to presage that no change in the rediscount rate of the New York federal reserve bank was at hand Indeed the announcement by the banks officials which came shortly aft CT the close of the market, stated that no change had been made at the Thurs day meeting.
 One of the most spectacular mDve- ments of the day was the trapping of short interest in General Electric in the final half hour of trading. The market closed sh points net higher.
 United States Realty, with a gain of more than points for the day, ranked second. The astonishing advance in this stock, which is up some 50 points since election, has been one of the out standing features of the entire market. Realty's stockholders now receive divi- ,dends at the rate of $S share, with earnings now running more than double this amount. There have been hints of an increased dividend rate, but so far these have been sidetracked by the con- pany's officials.
 Exchanges Advance
 The upswing in foreign exchange con- tinued strong New highs for the year were reached in the Thursday session by sterling, guilders, Swiss francs, Swe dish and Norwegian kroner, Argentine pesos and Indian rupees. Certainly rather representative array. Heavy transactions were the order of the day as far as the principal European rates were concerned.
 Lower grain markets and an easier tone in cotton were due primarily to the failure of speculative sentiment to im- prove. Grains were weakened by re- ports of slower buying abroad and the dullness of the foreign markets general ly. Cotton seems to be doing little more than marking time, awaiting publica- tion of the governments annual crop report Monday.
The Birmingham age-herald., 1924-12-05

questionnaires report the market for farms is more active than 1t was last year while 94 per cent anticipate fur ther improvement during the months just ahead. Even more encouraging than this is the report that the people who are buying farms are not specula- tors, but farmers themselves-farmers who have confidence in the economic future of their industry.
 Detailed statistics by groups of states, showing the number of farms sold and the total consideration paid are illus trated above as taken from the real es- tate association's survey. The greatest 1924 activity in the farm land market, relative to 1923, has occurred in the central east, where the number of sales has increased 21 per cent, the number of acres sold 331 per cent. and the total paid 207 per cent Very active, too, has been the central section of the country, where are located the great corn and wheat belts of the Mis- sissippi valley.
The Birmingham age-herald., 1924-12-05

GALES of farms this year have been - 42 per cent more numerous than
 during 1923, according to a nation wide survey just completed by the Ma tional Association of Real Estate Boards. Furthermore, there has been an increase of A per cent in the actual number of acres sold while the total consideration paid for these acres has jumped 65 per cent.
 The above evidences of a brisk re- vival of interest in the farm land mar ket is significant because they reveal that the total value of farm sales this year has increased more than the num- Der of sales or the number of acres bought. To express 1t plainly, the fig vres quoted make 1t very apparent that the actual per acre value of farms is now tending upward. That such an up- ward movement Is expected to continue can best be shown by stating that fully 85 per cent of the farm land dealers to, whom the real estate association sent
The Birmingham age-herald., 1924-12-05

eral cities and how much the hricklay- CTS are paid for performing the opera tion. As might be expected, they have all stopped laying bricks and started throwing them. The number of bricks laid varied from 95 to 231 per hour and the compensation for the task ranged from $1.01 to S1.76 per hour depending upon locality. MT. Stewart, being an excellent statistician, has also calculated the cost of laying 1000 brick and we find that the finished job costs from s4.s2 to $14.47 depending upon whether you are building your brick wall in Birmingham or Indianapolis. In spite of the fact that every locality mentioned has protested the accuracy of the report 1t may be interesting to the gentlemen who, upon hearing the rumor that New York bricklayers were getting $22 per day, remarked: Lets see that must figure just about $1 a brick"
The Birmingham age-herald., 1924-12-05
THE WEATHER
Extreme northwest Florda and Alabama: Clearing and colder Friday: Saturday 

Extreme northwest Florda and Alabama: :: Clearing and colder Friday: Saturday fair.
 Virginia: Rain Friday, warmer Friday night; Saturday clearing and colder.
 North and South Carolina: Showers and somewhat warmer Friday: Saturday fair and colder.
 Georgia: Showers Friday Saturday fair and colder.
 Florida: Local rains Friday; Saturday fair cooler in north portion.
 Mississippi Fair. and colder Friday; Saturday fair and somewhat warmer.
 Tennessee: Rain and colder Friday, ex cept fair in southeast portion; Saturday probably fair, colder in east portion.
 Kentucky: Rain in east and rain and colder, possibly changing to snow flurries in west portion Friday; Saturday prob ably fair and colder.
 Louisiana: Friday partly cloudy; Satur- day fair. little change in temperature.
 Arkansas: Friday partly cloudy; Satur- day generally fair. warmer in northwest portion.
 Oklahoma: Friday generally fair warm CT in west portion; Saturday partly cloudy, warmer in east portion.
 East Texas: Friday fair. cooler in south portion; Saturday fair. warmer in north portion
 West Texas: Friday fair, warmer in north portion. Saturday fair.
 Illinois: Rain Friday; colder in south portion: Saturday fair in south portion ana somewhat unsettled in north DOT tion.
 Missouri: Snow or rain, colder Friday Saturday partly overcast.
 Summary of observations made at sta tions Of the United States Weather bu- reau. during the 24 hours ending at 2 p. m. 9oth meridian time. December 4.
The Birmingham age-herald., 1924-12-05
Wall Street Briefs

The daily average gross crude oil production of the United States in creased 12,200 barrels for the week end ing November 29, totaling 1,975,S00, &C., cording to the weekly summary of the American Petroleum Institute. The fornia was 1,3S0,300 barrels, an increase of 4,700. California production was 595,- 800 barrels, an increase of 7,500.
 Despite drop of $15,314,OOO in op- erating revenues in October to $572, ,600,- 900, or 2.6 per cent under the same month last year, class one railroads showed an increase Of $23, ,329 400 in net operating income to $127, ,105, 100. Operat- ing expenses were reduced to $41 ,676,- $50 to $403, ,663, 800 or 94 per cent For the first 10 months of 1924 net operat- ing income amounted to $805,075,0 ,000, which was at the annual rate of re- turn or 4.3l per cent on their prop erty investment, compared with $S26.- 616, ,25O or 4.56 per cent for the same pe- riod of 1923.
 Brokers loans have expanded from 5 to 15 per cent in the last two weeks, ii Is estimated by a financial news agency, heavy volume of business be- ing reported by leading wire and com mission houses from out-of-town cen ters, chiefly the middlewest. Increased orders also have been coming to Wall street from the far west with the con tinuation of the "bull market" The disposition of the public to switch in and out" of stocks Instead of pyramid ing" was said to have retarded any real rise in loans.
 Great Western Sugar is expected to have a record production this year of s,2OO,000 bags of sugar, 100 pounds each, or about 2,200OO0 bags more than the 1923-24 total. Factors in the large crop were said to be the enormous gain in beet tonnage, the high sugar content and favorable weather for harvest. Earnings for the year ending February, 1925, are officially estimated at about S20 a share on the common stock.
The Birmingham age-herald., 1924-12-05
STOCK LETTERS


 NEW YORK, Dec. An today's mar
 NEW YORK, Dec. 4.-Trading in the stock market Thursday was again on large scale, total turnover approxi- mating 2,36O,0OO bales. Many new highs for the year were again recorded in the rail division, notably among which were the Katy" issues, Kansas City Southern, Frisco common, New York Central Atlanta, Birmingham and Atlantic and Pennsylvania.
 Especial interest was directed by the Birmingham investors towards the er- ratio and sudden upward move of the A. B. S A. stock After a close of 27s Wednesday, and opening at 2B this morning, 1t suddenly shot up to $5 per share on heavy buying, and finally closed at S4 for the day. This was the highest price for this stock in several years. Another item of interest was the announcement made that the Mallin- son Silk corporation sales are reported to be 100 per cent higher than a year ago. It went up approximately 2ls points but failed to hold its advance, profit taking forcing the stock down to 38 on the close.
 It is not to be unexpected that after a market such as today, a reaction might follow. However, we believe such reactions will be of no conse- quence and that the market will con- tinue it's strong tone. We are firmly convinced that should stocks break even slightly that they should be bought for quick profits with the idea in view of buying again on the setbacks.-Steiner, Rouse and Stroock.
 NEW YORK, Dec. 4.-On total sales of 2,360 400 shares the market was ex- tremely active during practically the en- tire day, although some moderate re- actions occurred in the last hour. After ? p. m. General Electric became the leading feature, advancing 21a points. to 275h. Allied Chemical was one of the bright spots, recording a gain for the day of SIS points net at S4ss. Madison, which during the forenoon advanced to 41, saggcd off near the to 3S and it was rumored that over 10000 shares were sold close to the high figures for the day. Atlantic Gulf also came into prom thence, moving up to new high at 21, Frisco, New York Central, Missouri Pa cific and Wabash were also in demand at higher price levels. Even St. Paul, which has been under pressure several days, held well. Copper metal is now firmly established, and Kennecott, Ana conda and Cerro De Pasco were con- bought during the entire day. Final prices were for the most part frac- tionally higher under the leadership of United States Steel, Baldwin and cer- tain other speculative favorites.-Fen- ner &r Beane to Kahn &s Virgin.
The Birmingham age-herald., 1924-12-05
LOCAL DATA
WINDS

East Gulf: Fresh southeast and south shifting to northwest and weather over cast and showery Friday.
 West Gulf: Fresh northwest and wealth CT fair Friday.
 Caribbean Sea and Windward Passage: Moderate to fresh northeast and east ex- cept variable over extreme south portion and weather overcast and showery Friday
 Sandy Hook to Hatteras: Increasing northeast and east and weather overcast followed by rain Friday.
 Hatteras to Florida Straits: Fresh east and southeast and weather overcast and showery Friday.
The Birmingham age-herald., 1924-12-05

That Is only one of the impressive facts brought out by c. s. Mead, sec- retary of the Mer- chants Association of New York, when asked to tell the readers of this col umn s o m e t h 1 n 6 about the magni- tude and the activi- ties of the nations largest city. Other facts follow:
 The increase in assessed valuation 4R ~4aI A.xHx~ l.
The Birmingham age-herald., 1924-12-05
RAW SILK

NEW YORK, Dec. 4.-Raw silk easy; prices per pound: Kansai double extra cracks, $6.50@6.6O; Kansai best No. 1, $6.10@6.15; Shinshu No. 1, $6.OO@ 6.05; Canton extras A, 14-16, $5S5@59 Shanghai, China, steam fil gold double deer, $710@740.
The Birmingham age-herald., 1924-12-05
B2.ll PER INCH
 PAID FOR LAND IN NEW YORK
Taxes To Be Levied On 44,333 New Buildings
 This Year

By B. c. FORBES A piece of land was sold the other day in New York City at price equal to $13, 3,192,240 per acre.
The Birmingham age-herald., 1924-12-05
ReserUe Bank Statement

WASHINGTON, Dec. 4.-Combined re- sources and liabilities of the 12 federal reserve banks at the close of business December were reported tonight by the federal reserve board in thousands of dollars as follows:
 Resources
 Gold with federal reserve agents, $1,- 905, ,730; gold redemption fund with U. S. treasury, $45,7ss; gold held exclusive ly against federal reserve notes, $l- 591, ,51s; gold settlement fund with fed eral reserve board, $5SS036; gold and gold certificates held by banks, S4S8,- 376; total gold reserves, $3,027 ,930; re- serves other than gold, SS9,963: total re- serves, $3,117 ,s93; non-reserve cash, &4o.- OPS; bills discounted: Secured by U. s. government obligations, $124,656; other bills discounted, $124,2 total bills dis counted, SPAS 1928; bills bought in open market, $345, ,606; U. g. government se- curities: Bonds, 4,7S5:. treasury notes, $390,S76; certificates of indebtedness, ties, $574, 4,943; foreign loans on gold. s6,00o. All other earning assets, $2.050; total earning assets, $1,1s6, ,527; per cent redemption fund, federal reserve bank notes, uncollected items, $663, 1892; bank premises, 1,555 all other resources, S27 ,29S; total resources. S5,0s7 ,1S9.
 Liabilities
 Federal reserve notes in actual cir. culation, S1 ,s49,006; federal reserve bank notes in circulation, net deposits: Mem ' Der bank, reserve account, $2,252, ,47o: government, $22, ,911; other deposits, $30,-. O07; total deposits, S2,3o5,393; deferred availability items, S595.581; capital paid in, SIP, 2,153; surplus, $220. .915; all other liabilities, S14,135: total liabilities. $6,- 097 .1S9; ratio of total reserves to de-, posit and federal reserve note liabilf- ties comhin 751 per cent Contin4ept liability on bills purchased for foreign correspondents, 31,229.
 NEW YORK RESERVE BANK NEW YORK, Dec. 1.-The statement of the condition of the Federal Reserve Bank of New York at the close of bust- ness December 3, shows:
 Total gold reserves, s94e, e,o73, GOD. Total reserves, S96S, 725. 900. Bills discounted, secured by govern ], ment war obligations, $49,544, 900. .,. All others, $9,661 ,000. :. Bills bought in open market, $123,-= 732, 1000. .- Total earning assets, 367, ,216,0o0. Uncollected items, s156, ,S07, ,000. . Due to members: Reserve account, S913, ,432, ,000. Total deposits. $937, ,as4.000. :~1 Federal Reserve notes in actual cir-- culation. 3s1 ,921 ,000. 4&, Ratio of total reserves to deposit and Federal Reserve net liabilities combined. 73.5 per cent.
The Birmingham age-herald., 1924-12-05

World cotton crop estimates now com plete set this years production at 22,- 500,00O bales of which the United States will produce about 13,000,00O bales or 5s per cent. Last year we grew 53 per cent of a total crop set at 18,969, ,000 bales. In 1922 with a world crop of 18,- COG, ,OOO bales we were credited with 54 per cent. These figures must be par ticularly interesting to the sad seers who prophesied our decline as the ma jor cotton producer of the world because of the boil weevil. We are credited with 5S per cent of one of the largest crops on record.
The Birmingham age-herald., 1924-12-05
EINIIR MARKET

MINNEAPOLIS, Minn, Dec. A. Flour unchanged to 15c higher; family patents, $8.45QS.55 a barrel; shipments, 29,317 barrels. Bran, $2S00.
 HORSES AND MULES
 EAST ST. LOUIS, Dec. 4.-Horses and mules. steady; quotations unchanged.
The Birmingham age-herald., 1924-12-05
OIL CITY REPORT

OIL CITY REPORT OIL CITY, Pa, Dec. 4.-Credit bal ance, $2.75; runs, 10.9!4; average, S7,691. Shipments, 7,687; average, 70.781.
The Birmingham age-herald., 1924-12-05

SAVANNAH, Ga, Dec. 4.-Turpen- tine, firm, 75c; sales, 459; receipts, 467: shipments, 5; stock. 14,117.
 Resin firm; sales, 2,361; receipts, l. 551; shipments. 452; stock, s5.41s.
 Quote: to I, $s.oo06.o2As; K, $6o59 6.15; M, $6.10Q6.2O; N, $6.55@6.60; Wg. $7.3OQ7.45; Wv, x, $7.95QS.10.
The Birmingham age-herald., 1924-12-05

Motor price reductions announced on several cars during the past 10 days indicate keen competition in the auto mobile field and suggest the stabiliza- tion of that great industry after a pe- riod of mushroom growth. A few stand ard makers, enjoying certain economies due to quantity production, are keeping their prices down that they may get an ever increasing proportion of the auto mobile business. Sound merchandising and good business.
The Birmingham age-herald., 1924-12-05
NEW YORK RESERVE RANK
NAVAL STORES

JACKSONVILLE, Fla. Dec. 4.-Tur- pentine steady, 75c; sales, 400; receipts, 301; shipments. 160; stock. 27.6SS.
 Resin firm, gales, 1928: receipts, l. 300; shipments, 555: stock, 115.212.
 Quote: to I, $S.oo0S.2oh K, $s.o5@ e.15; M, $6.1o06.2o; N, $6.559660; wg, $7.3047.45; Wv and x, $7.950S.10. 4
The Birmingham age-herald., 1924-12-05
YEGETARLES

VEGETABLES CHICAGO, Dec. 4.-Beans, Florida hampers, green, $5.50Q6.00; was $5.00Q $50. Cucumbers, Florida hampers, $4.50@ 500.
 Eggplants, Florida crates. $300@3.5o. KumQuats, Florida crates. 11A12c per quart.
 Peas, Florida hampers, $3.00@3.5O. Peppers, Florida crates, $4.5045.00; Georgia crates, $1.3541.50. Sweet potatoes, Tennessee hampers, $250@265; Arkansas bushels, $2.00.
 STEEL MARKET NEW YORK, Dec. 4.-Steel prices un- changed.
The Birmingham age-herald., 1924-12-05

Ethelbert Stewart, head of the United States bureau of labor statistics, has had the timerity to publish the finding of a survey conducted to determine how many brick are laid per hour in sev-
The Birmingham age-herald., 1924-12-05

Prosperity in the northwest is meas ured by a report just received from the Federal Reserve Bank of Minneapolis. Volume of business for October as re- flected in debits to individual accounts reached a grand total of S1.108, ,086, 900. This is 19 per cent above the previous records made in October of 1920 and Is 50 per cent above the same month of last year. Grain shipments meantime continue at high volume. Two and one half times as much wheat was moved as during October last year and the figures for rye show shipments over five times as large as those of a year ago.
The Birmingham age-herald., 1924-12-05

Verify, New York is a city of which not only New Workers but all Americans may well be proud
The Birmingham age-herald., 1924-12-05
Men And Markets
 By ?. F. B.
By ?. F. B.

The high cost of distribution has come to the attention of the United States Chamber of Commerce and that body has Ot about to investigate and relieve the situation. The retailer has appar- ently been made the goat as sales costs have mounted Manufacturer has pass ed his added burden in selling costs along to the jobber and wholesaler. These in turn have added their own in creased sales expenses and passed both along to the retailer who has no choice but to add his sales expense and arrive at the price to the consumer. The re- tailers' margin is greater than it used to be, that is true, but expenses eat into the total so that little or no profit re- mains. It Is proposed to relieve the bur- den which now must fall upon the con- sumer by investigating and conferring with individual lines of industry that certain simplifications and economies may be adopted which will lower the final price to the buyer The task Is tremendous and it will be a slow job, but 1t Is in the right direction and it Is better that business undertake to solve its own problem through its own machinery, than that the thing be made political issue and that business be submitted to a brand-new set of bun gling rules, regulations and commissions which would only make for still higher costs.
 Zinc production is now running over 14,000 tons a week in the Joplin, Mo-, district as compared with about 5000 tons before the war. Exports are in- creasing.
 The railroad labor board appears to be due for attack in the present session of congress. Several people don't like it. Those who feel that the railroads should be run to pay the highest possi ble wage, regardless of ownership or the general public, resent the labor boards ability to make the facts known before a strike is called not afterwards. Those who still think the railroads should be run to pay the highest possl- ble dividends, and therefore the lowest wages, also resent the existence of the board for much the same reason. They work better in the dark When the fact that the public is more vitally inter- ested is continuous and efficient railway service than either owner or worker was recognized the railroad labor board was formed to protect that public interest. Fundamentally the public is still the important consideration in any railroad dispute and the railroad labor board as it's representative is quite as necessary as ever.
The Birmingham age-herald., 1924-12-05

Summary of observations made at sta tions Of the United States Weather bu- reau. during the 24 hours ending at 2 D. m. 90th meridian time. December 4.
 -TEMPERATURES-