New Britain herald., 1925-02-19
Wall Street Briefs

WaH Street Briefs
 The depression in the locomotive manufacturing industry in 1924, re- hected in earnings reports of sev- eral companies, also affected income of the Lima Locomotive Works. Inc, which reports a. decline in net to N,b0o,043 equal to s7.10 a share on the no par value common stock, compared with s2.fo2,sO or SIPS a share in 1923. Sales dropped to sl4577.136 from s2o.2Ss,S67. Sur plus after payments of s4 share on the common in 1924 fell to $G55,- Sl5 frop s1,562.7O9 the year be- fore.
 Farm machinery companies re- port that tho farmers are buying implements cautiously and although sales of farm tractors are better than those of January or February, 1923, and show improvement over the same months of 1924, the vol ume Is still below normal. Since November last, sales of all farm implements have shown an upward trend.
 Over-subscription of the offering of 75o.OO0 shares of class A partici- pating common stock of Armour &s Co. of Illinois at $23 share was announced today.
 The Mathieson Alkall Works earned s5.76 a share on the com mon stock in 1924 after per cent preferred dividends, compared with S7.63 a share in 1923. Net income fell to $S7S,0s4 from $1,09s,944 the year before.
 Net income of the Orpheum cir cult for 1924 increased to $2,S97,- 314 equal after preferred dividends to $4.29 share on the common stock, against $1.56S,604 or s1.S7 a share in 1923. Net for 1924 in- cluded profits of s1,O32,43s from tho sale of stock of other corporations.
 Utah Copper earned $5.59 share on the capital stock last year with net income of S9,090,190 against $6.44 a share and net of $t0,472,- 79S in 1928.
 For the first time in a year, opera tions of the Tinplate Mill of the American Sheet & Tin Plate Co.,, at Farrell, Pa, will be placed on capa- city next Monday necessitating en- ployment of several hundred addi- tional men.
 | Operations of the public service corporation of New Jersey and subsi- diaries for the 12 months ended January 31, 1925, produced revenue of $SS,468,902, an increase of $9,- 121, ,424, while net increase in surplus was $7,826,307, gain of $2,120,- TSP over the previous corresponding period.
 Two striking illustrations of the Grape Vine" information service of Wall street bankers and brokers were furnished this week by the circula- ton of advance information on the reports of the Baldwin Locomotive and American Woolen Companies. As late as last Friday the street heard rumors that Baldwin had failed to earn dividends last year with the result that the "news" had been discounted" when the report appeared on Tuesday. The American Woolen report, which was issued to- wards the close of yesterdays mark ct, also had been correctly forecast with the result that the stock touch- ed a new low for the year before the report appeared, and then rallied on short covering.
 The United States Title & Guarau- ty Co.,, has declared a quarterly di- vidend of 21a per cent, payable March Is to stock of record Febru- ary 2S. The company has been pay ing per cent regularly for several years, but in 1923 and 1924 it paid per cent extra.
 WHEAT SHOWS ADVANCES
 Chicago, Feb. 19-Owing largely to predictions by an exporter that the wheat trade of the United States would be on a domestic basis during April, May>and June, wheat ad- ranced today in the early dealings. Usually in those months demand from abroad is urgent. The open ing ranged from IS to 1-4c high CT. May 1S6 to 1S7 and JuIy 157 19