New Britain herald., 1925-04-01
WaN Street Briefs

stock market observers empha- size as the encouraging feature of yesterdays transactions, the signih- cant factor that while most Of the listed issues moved forward. grain prices suffered from liquidation. This movement of the stock market against the grain market was inter- preted as distinct check to the recent heavy liquidation in securi- ties, resulting from less activity by professional operators for the de- cline with satisfactory inside sup. port. Buying. however, appeared "spottish" and seemed to lack an inclination for heavy purchases throughout the list.
 The Vulcan Detinning Co. has de- clared a dividend of per cent on the preferred stock on account of appears, in addition to the regular quarterly disbursements of 1& per cent on the preferred and the pre- ferred A, all payable July 20 to stock of record July 9,
 Stockholders of the Granby Con- solidated Mining Smelling & Power Co. will vote at a special meeting April 15, on proposed issue of 5 year per cent convertible de- beuture bonds not exceeding s4,000,- 900 which will be convertible into ordinary common stock at s25 a share. The present issue of $2,5oo,- 900 8 per cent debentures matur- ing May will be retired.
 New corporate securities issued in March aggregated $324,253,S00, an increase of $36,926,4OO over the same month last year, 1t is shown in a compilation by the Journal of Commerce. Both industrial and railroad securities gained, but in dustrials were larger by s2s,584,400, accounted for by an Increase of $32. 400 in stocks while bonds declined s1o,S76,ooo. The total for the three months this year was S1,171 100, a gain of $41S,047,- 400 over the same period of 1924
 ''The week has brought a further slight reduction in output Of pig iron and steel" Iron Age says, with in- Edications of recession in the volume of new business and of weakening in ] rtai fpie gtn al duets"
 The Iron Age pig iron composite price has fallen to s21.54 from S21.SS last week, reaching the low est level since mid-December and s1 below the corresponding date in 1924. Finished steel has stood at 2,5S1 cents per pound for three weeks, One year ago 1t was 2.70S cents.
 | Operations of subsidiaries of the L. s. Steel Corporation this week have fallen below 90 per cent by capacity in comparison with close to 94 per cent, a week ago. Specified tions in good volume are reported to be coming in and recent shipments have been the largest in months. This indicated, 1t was said, a good demand for steel which is going h. to immediate consumption. New buying, however. is light and con- siderably below the current output.
 Harry Bronner, member of Blair & Company, and E. R. Tinker, pres ident of the Chase Securities Com- pany, today were elected to the board of directors of the American International Corporation. Stock holders approved an increase in the common stock from the present 490,O shares to 750,08o shares. Matthew C. Brush, president, said earnings approximated $5OO,OOO In the first three months this year in contrast to $7oS,4 for the full year of 1924. Since October 1 last, the book value of the corporations stock had increased s1,946,000, he assert l ed.