New Britain herald., 1924-09-25
Wall Street Briefs

stock market with It's million share turnover yesterday brought en- couragement to professional op- timists who have predicted a con- tinued forward movement before and after the national election. This attitude, however, does not appear to be shared by conserva- tive operators who refer to the market as passing through a per- iod of backing and filing" anu who look for no immediate real activity in the general list. The steel market and its prospects are being studied as general business indicator. Record. freight traffic has drawn sharp attention to the rail issues which recently have been showing greater activity.
 The Swan-Finch oil corporation today declared dividend of per cent on the preferred stock as pay ment in arrears for the quarters ended June and September l, 1921, and payable September 25 to stock of record September 10.
 The Lehigh Valley Railroads net operating income for the first eight months of 1924 jumped to, $7.6O0.- ST compared with $2.S55,S05 in the corresponding period last year. August netwas s1,215,5S7 against $S74,92S for August 1923.
 The Standard Oil Co. of Louis- jana has reduced the price of gas- oline at filling stations in Louisiana, Arkansas and Tennessee one cent a gallon, the second reduction since September 1. The new price Is 1Sh cents gallon. The tank price is unchanged at 16h cents.
 The New Jersey Zinc Co. has de- clared an extra dividend of 2-per cent on the capital stock payable October 10 to stock of record Sep tember 30 in addition to the reg,, lar quarterly dividend of per cent.
 The National Fire Proofing Co. declares quarterly dividend of 75 cents on the preferred stock pay able October -5 to stock of record October 1. A dividend of 50 cents was paid in the previous quarter.
 The Maine Central reports sur plus of $161,So7 for the first eight months of 1924 in contrast to a deficit of,s276,1S9 a year ago.
 The financial district hears that the Great Northern Railway will purchase 2,500 freight cars to cost ss,50O, 900. Wall street does not expect the s200, 100000 German loan to be foated until after the presidential election. While American bankers who are to have charge of this financing in the domestic market have not divulged their plans, 1t i. felt in some quarters that loan of. fered at this time might be dragged into the political campaign and it! success endangered. Money marke conditions, which are considered favorable for such financing now, ar expected to show little or no chang In the next six weeks so that there i no apparent need for haste in puttinj out the offering. Several other loan to German industrial enterprises ar, in progress of negotiation but the, will not be completed until after thu | government financing is out of tn, way.
 Railroad Freight traffic hung ul a new record for 1924 in the weel ended September 13 with total load ings of 1861, ,424 cars within S.2l per cent or 35,S50 cars of the high est week on record which was Sep tember 27, 1923, the American Rail way Association reports. This wa a gain of 14O,445 cars over the pre- ceding week when. Labor Day re duced loadings, an increase of S6. over the same week last year ant 124,2$3 over the corresponding weel in 1922. Loadings since the first O the year aggregated S3,509,014 car against 35,144,796 in the sam period of 1928.
 Net income of the United Ciga Stores Co. in the seven months end ed July 31. was s2,754,724. Prof and loss surnlns tntalled S74SS2h2