The Birmingham age-herald., 1924-12-30
WALL STREET BRIEFS

Net operating income of the first 51 class one railroads to report November earnings, amounted to $77,S2e,Ooo com pared with $71, ,038,0 900 in November last year, an increase of more than per cent, while gross revenues declined to S4O7 ,57O, 900 from 27,095,000, decrease of 4.6 per cent. Should other roads maintain earnings at the same parity in dicated net for all class one carriers would be about $94, ,500'000 against $S6'- 13O,774 in November 1925. l
 Stockholders of the Fisher Body cor poration today authorized an issue or 2,400 000 shares of common stock, $Zo par value, to take the place Of the outstanding 6O0,000. shares of no par value, on an exchange basis or TOUT shares of new stock for each snare or old held on January IA, 1925. The qNar- terly dividend which the directors are scheduled to act upon January ana which is due February 2, will be paid on new stock only, 1t was announced.
 The McGrory Stores Corporation is closing the best year of it's history,
 with sales approximating $26,0 ,0OOOOO,
 nearly $4,000,00o more than In 1S$S ana
 $s, GOO ,OOo greater than 1922. Earnings | for 1924 after taxes and charges are
 estimated at about $2,0o0,OOO, equal
 after preferred dividends to S4.oo
 share on the common stock. The com
 pany's expansion plans Tor !Szo , car
 for shares of $30,000,000. Its stores now
 total 175.
 Public offerings will be made tonor-
 row by a syndicate headed by Garden,
 Green and company of 45,00O shares or
 no par value capital stock of Charles Freshman company, said to De one or
 the largest manufacturers or ra1to ,.o
 parts and sets, at $21 h share. Profits
 for 1924 before taxes are calculated
 at SSO2, 900 while thrilled orders for 1925
 indicate profits of $3,0O0,OOO which
 would be equivalent to SIS a share on
 total capitalization. The company mas
 no bonds, preferred stock or OanK
 loans.
 Two unusual transactions today indi-
 cated that losses were being taken for
 the purpose of making deductions from
 income taxes for 1924. Simms Petrol
 cum opened points higher at "A on single stransaction of ten thousand shares. As Simms Petroleum mas nao an advance of 100 per cent, that trade presumably was done to cover shorts and registered a loss. The other ex- treme was witnessed in the crossed sale of ten thousand shares of Sinclear Consolidated Oil at IT. Sinclair IS sell ing at within ? points of the loves lowest price in It's history. The Sinclair trade, it was therefore assumed, was a iiquidation of a long line, also to ) register a loss.
 c Plans have been projected by the h. c ternational Paper company to acquire c the Canadian property of the Riordan z company, which has been in receiver . . ship since last spring, it was reported z in Wall Street today. The proposal 5 contemplates issuance by the lnterna- ? tional company of $15,0000OO new pre- c ferred stock, part of which would be c used to pay for the Riordan plants e Proceeds from the sale of the remain c der would be expended for improve 0 ment and expansion of other proper Q lies recently taken over by the In S ternational.
 $ The Southern Railway increased iti Q net operating income for November t' D S3 046,735 from $2,562.7S5 in the sam' @ month last year, although gross reve s nues declined about 50,000 to $12076, 1 2S7 Net for the eleven months of 192 5 also showed a gain of nearly $2,OOO.O0 D to S27,037, ,970 over the same period O x 1923 while gross revenues fell more thai 70 $s,0O0,0OO to $129,S55,SS0.
 5; Stock market analyslsts have discoV s. cred that the general impression Una
 the market has been going up withou
 interruption since election, is erroneous
 On Zz LraolnB udys, run NONSAhooA U December 24 inclusive, there were ad
 vances in rail shares and on 20 day
 declines were recorded. Industrials ad as vanced on 31 trading days in the sam 30 period and declined on Il days. 26
 % Gross sales of radio apparatus by tn ga Radio Corporation of America durtn 10 1924 are estimated conservatively 6 O2 about $5O, OO,OQO, reflecting the rapi 9S and remarkable growth of the con sS pany's business. In 1921 gross sale % aggregated only $1,46s,000, jumping e more than $11 100000 in 1922 and e0 g ceeding $22,OOO,O00 in 1923. The con sS pany plans large extensions to its il 63 ternational business in 1925 with whicl
 the financial district hears, Theodol SS oS Roosevelt will become identified. 04 ----------- =, = -,,-,,1@--- 11I- 1701yTT 1 C