Evening star., 1927-05-03
Wall Street Briefs

NEW YORK, May 3 GP.-In line
with the general movement to mark
up sheet steel prices, makers Of highly
| finished automobile sheets in the
| Youngstown district have advanced
prices 81 a ton, to 4.25 cents pound
| from Ais cents. Steel production in
| the Mahoning Valley continues this
week at an average of rs per cent
with no marked changes in schedules.
Bradstreets compilation of CONNER
| cial failures for the four months this
year puts the total at 1885 with lia-
and liabilities of $18S.543,6 ,642 in the
same period of 1926. Failures in April
were on a descending scale, contrast
| ing with a slight increase in earlier
/ months in number and large In
crease in liabilities. Compared with
March, the months total was 11.02 per
cent less, while liabilities were IA per
cent smaller.
Pittsburgh dispatches say Standard
| Oil of Indiana will start construction
| Of 1000.barrel refinery in the Sag
inaw field, Michigan, to cost 100000.
An advance of 21a cents a gallon in
alcohol prices by United States Indus
trial Alcohol Co. was followed by sim.
! liar advances by National Distillers
Products Corporation and Lowery
| & Co.
| April sales Of Sears, Roebuck & Co.
moved up to $24,091, la from $22 ,997, :
! S33 In April last year and for the four
months this year to $90,391 ,916 from
| $89,007, 701 in the same period of 1926.
Ian nf d. a
| offerings is emphasized in an award
of new issue of $145, 900 Orleans
| County, n. Y, Az per cent highway
bonds to Batchelder, Mack & Co., who
| underbid Graham, Parsons & Co. by
only a difference of $3.50 for the en-
| tire issue The successful bid was
101.64 against 101.637.
Net profit of the Cuneo Press, Inc,
| for 1926 was $76S, 400 after all charges,
compared with $503,819 the year be-
| fore. This was equal, after class A
dividends. to $500 share on the COM
mon stock. Gross profit on sales was
1924, $50, against 81 ,042,9 in 1925.
| First quarter net operating income
of the Norfolk Southern was $444,798,
against $405,237 in the first quarter
| last year.
F. G. Shattuck Co had first quarter
net profit of $390,779, equal to $1.30
share, against $316,596, or $1.05 a
| share, in the first quarter Of 1925.
First quarter sales of Piggy Wiggly
Corporation, including new locations
opened since January 1, amounted to
| $43, ,259 ,908, gain of $5,356,942, or IA
per cent over the first quarter Of 1926.
| Directors of Brill Corporation have
deferred action on the class A divi.
dend for one month. An initial divi-
dend of 81 was declared three months
ago. The regular quarterly dividend
of $1.75 on the preferred was declared.
First quarter net of the Pullman Co.
declined to $1,S41, ,621 from $2,084, 1854
in the first quarter of 1926. Net for
March rose to $626,350 from $395, Ala
a year ago.
Banks, trust companies and their
subsidiaries underworld SIT ,527 900 of
real estate bond issues in April, or 25
per cent Of all real estate securities
offered to the public, compilation by
S. w. Straus & Co. shows. First mort
/ gage bond issues totaled $55, ,472, 900.
The months total of all real estate
4 securities publicly announced was $780,
| 9S2. 900 against $60,979,500 in April
| last year.