New Britain herald., 1925-02-09
Wall Street Briefs

N l Wall Street Briefs
 Stockholders of Cluett Peabody & Co.,, will vote February 25 on pro- posals to change the 1s0, 1000 shares of s1O0 par value common stock into shares of no par value and increase the amount authorized to 250,000 shares. The increased capital will provide 12,300 shares of common, which with 5,iso shares ot preferred arc required to pay for the assets Of Earl & Wilson.
 Federal Mining & Smetlng Co. reports net income of s903,6T6 for 1924, equal to $7.5s a share on the ' per cent preferred stock against s6l4,472 or s5.l2 share in 1923. Back dividends on the per cent preferred now amount to sl9.25 a share. High prices realized on lead and zinc increased net earnings to $2,Oo6.67o before deducting depreci- ation and depletion, the report stat cd, compared with $1,457.575 the year before.
 Chicago, Rock Island & Pacific has ordered 4b,000 tons of rails di- yided between the Illinois Steel Co.,, Inland Steel and Colorado Fuel & Iron Go.
 The investment of American capi- tai in foreign securities continues at relatively the same rate as last year when these loans tptalled more than billion dollars. 6r about one-sixth of the years fotations. So far this year foreign business has accounted for almost one.fourth of the S700,- o00,000 in bond offerings. Many of the pending negotiations involve further loans for foreign goyern- ments or corporations.
 The pamphlet report of the Coca Cola Co. for 1924 shows net profit of s5,700,993 after expenses, deprecia- ton and federal taxes, equal after preferred dividends to $10 a share on the common stock against s4,- S2e,1oS or s765 a share in 1923. Sales increased more than s1,000,- | GOO to s25,444,1s7.
 The Pittsburgh & West Virginia Railway and the "Nickel Plate" showed the largest increase in traf- fic in the eastern region for the first three weeks of the year. In the south, Louisville & Nashville, the Nashville. Chattanooga 8 St. Louis and the Gulf Mobile & Northern were conspicuous for their gains. | Four of the six Northwestern roads gained more than 10 per cent and the other two exceeded five per cent. Western Pacific showed the greatest increase in the Central Western region followed by Denver & Rio Grande Western. Gulf Coast, International Great Northern and Missouri -kansas-Texas. Increases ranging from 12 10 S4 per cent were shown by Missouri, Pacific and St. Louis-San Francisco.
 Steel Ingot production in the | Youngstown district has decreased to 70 per cent compared with 20 per cent a week ago.
 l A new high price for membership
 on the New York curb market was
 established today when seat changed hands for s1o,O00. The new figure represented an advance of $1,- 900 for the last previous sale. The Iron Products corporation an- nounced today that it would make a special distribution to its stockhold- CTS of one share of Essex Foundry stock for each five shares of Iron Products. The value of the distribu- ton is estimated at s10 a share for Iron Products. Stockholders will meet March to ratify the plan. The distribution will be made to hold CTS Of record April Is.
 The E. F. Goodrich Co. an- nounced today acquisition of the Ames-HoIden Tire Go. Ltd, of Canada, in which it had held a sub stantial stock interest since the lat ter's reorganization several years ago. The name of the new sub sidiary will be changed to the Cana dian Goodrich Rubber Co.,, Ltd.
 Railroad and oil stocks sank to still lower levels in afternoon but the rise in call money 10 4is per cent on the calling of loans as a result of the deficit in surplus reserves in Saturdays bank statement, failed 10 sstop the advance elsewhere. Ameri- can Can got up 5it 10 TOE, a Irecord figure, while U. s. Cast Iron Pipe reached 2O9 and National Lead gained 4ia. The Sugar. Maxwell Mo tor and American Tobacco issues were also heavily bought.
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