Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-12-30

Financial Briefs

Kean Taylor & CO.. Of New York,
announce that George L. Barstow, Jr.,
will be admitted to partnership in their
firm on January l. Mr. Barstow for the
last nine years has been associated with
Potter. Choatc & Prentice as manager of
their bond department.
The Savage Arms Company has issued
n circular to stockholders in which it
states shat as the owners Of the majority
of the capital stock have sold lnCir hold
ings to the Drggs-Seabury Ordnance
Company, the offer Is made to all present
shareholders of $500 per share for their
stock, the purchase to be effected on or
before January l5 next.
It vas learned today that settlement
was made on Monday for 1850 shares of
Colonial Trust Company stock sold to
a syndicate headed by l.. B. Jones. pres
ident of tho Colonial Trust Company, at
500 per share. Bernard Ruckdeschel
vice president of the ,laddington Trust
Company, represented the sellers, and
james b. Lichtenberger represented the
syndicate
George +. Brownell vice president in
charge of the legal and financial depart
ments of the Erie Railroad, has been
elected n director of the company.
Plans are well under way by the man
agement of the Lee Rubber and Tire
Company, of New York, to increase the
capacity of the plant at Conshohocken,
Thomas Iron Company stockholders at
n special meeting today ratified the 60
day option given on the company's stock.
owing to the New Year holiday on Sat
urday the weekly New York bank state
mcnt will be published tomorrow at
o'clock
An odd lot of Citizens Passenger Rail-
way stock sold at 272 on Change, up Z
points.
Spencer, Trast e Co.. of New York.
have announced the admission to their
firm as of January 3. 1916, of Watkin w.
Kncath, now Western manager of their
Chicago office, and Pcrcival Gilbert, man
ager OF their Boston office Mr. Kneath
and Mr.. Gilbert will be resident partners
in Chicago and Boston, respectively,
The Bank of England today bought
ElO,OO0 in bar gold and shipped Gl0O.OO0
in sovereigns to South America, $4,000
to Spain, ESl,OOO to Canada. and ear
marked $4,000 to switzerland.
a large interest has been taken in
Philadelphia i'm the underwriting of the
bond assessment of the Wabash Pitts
burEh Terminal Railway Company reOrg-
anizaton. The part of the underwriting
which was allotted to Philadelphia was
arranged through Harper and Turner
and it is understood that this city under
wrote payments on approximately ST.
100000 bonds.
Caspar w. Morris was elected n director
of the Commercial Trust Company, at n
meeting of the directors held today. TO f!ll
the vacancy caused by the death of Rob-
ert c. Drayton, Mr. Morris is member
of the Stock Exchange firm of Elkins,
Morris & Co.
The annual report of the American Ice
Company for the year ended October 81
shows gross earnings of IS, 639,9Si against
s., ,s2G, SSl in 1914. Net earnings were slSi2.-
97l compared with Sl,SO2iS the preced-
ing year, and net profits were Sj26,lS2
equal to 3.5 per cent. earned On the pre-
ferred stock against 2,73 per cent. last
year.
In addition to the regular 4 per cent.
dividend the New Jersey Zinc Company
declared an extra payment of 10 per cent
The New York banks gained from Sub
treasury S3,29IOOO, and since Friday
So, ,179OOO.
The proposition to reduce the capital
stock of the County Fire Insurance Com
pany from 100000 TO 100000 was rejected
by the stockholders, but il was voted to
add 100000 TO surplus