New Britain herald., 1924-10-21
Wa, Street Briefs


 some bankers partly to the fact that many merchants for months have been buying on a hand-to-mouth basis whereas in normal years al about this time orders were placed for spring trade and manufacturers proceeded with preparations. This method 1t waslsaid, would lock up a fairly large amount of funds. In former years when a merchant or dercd hundred cases of goods, he now orders to 10 cases.
 Wall Street hears that the repub- lie of Poland Is inquiring from New York bankers on the feasibility of arranging loan approxlmating s26,O0o,0O to s5o.OO0,O00 under blanket mortgage to cover all in- dustries, similar to the recommen- dations in tho Dawes plan for Ger many. It would be virtually a first lien on Polish industry with mort gages on internal loans now out standing subordnated.
 Hupp Motor Car earned net profit of s492.136 in the quarter ended Sept. 30, equal to 53 cents & share on the common stock against $29S,0S3 or 31 cents share in the preceding quarter. For the nine months of 1924 net profit of s1,1S2,- S42 was equal to 29 cents a share On the common.
 Wall Streets attention has been drawn still more to the oil securi- ties by the Marland oil company's removal Of operating In the mid continent field and the statement Of the Standard Oil Co. of New Jersey regarding increased consumption of fuel oil. Important oil interests take the view that if prices are held down, enthusiastic drillors will be discouraged and the downward trend of the oil output will be accelerated, thereby paving the way for better prices and smaller inventories when the demand warrants.
 Penn Seaboard Steel Co. is under l stood in the financial district 10 be 1 negotiating with bankers for under | writing a s1,5O0,o0O bond issue to provide funds for installing mills at the Newcastle, Delaware plant, for the manufacture of hot rolled strips and to give the company adequate working capital.
 James II. Perkins pxssident of the Farmers Loan and st Co.,, heads a protectice committey appointed to look after the interests of common stockholders of Wilson & Co.,, Chi cago packers, now in recervership.
 Net earnings of the McCrory Stores for the nine months of the year in- creased to s1,037,14s from $769,2sS a year ago. Sales were $16,594,621 against s14,0S4,21S in the previous corresponding period.
 Returns of the British government for the first half of the fiscal year ended September 30 indicate that the revenue collected amounted to 34S,- | 50s,S95 pounds sterling, decrease of 17,S20,554 under the previous corresponding period, according tc the Bankers Trust Go. Of New York The heaviest decrease in revenue came from customs, 13,450,00 pounds and excise 6,127,0oO.
 The Ford Motor Go. turned out 149,906 cars and trucks in the United States in September. a gain of 9,530 over August and 9,653 more than in July. The total domestic output in the nine months of 1924 amounted to 1,412,s30. an increase of 14,498 over the same period last year.
 Directors of the Contineptal Paper & Bag Mills Corporation took no ac- ton today on dividends of 1& per cent on the prior preference stock; 1-2 per cent on the preferred and 1-2 per cent on the common due at this time.