Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-02-03
Financial Briefs

The stockholders of the Detroit and
| Cleveland Navigation Company have APP
proved an increase in the capital from
! 81, 600 900 to $50OO,OOO. The new stock Will
be distributed among shareholders as
| dividend.
| A special meeting of the stockholders of
| the American Wooen Company has been
| called for February ID at Jersey CITY at
| noon to authorize the sale of the property
| and assets to the new company organized
under the laws of Massachusetts. In or
der that foreign stockholders and any
others who have been unable to deposit
their shares under the plan may conserve
their interests, it has been arranged to
extend the privilege for 60 days after teo-
ruary ! of making the exchange without
penalty. Books for both the special and
annual meetings were closed January 20
and will reopen February IS. The total
number of shares deposited in 1aVor Oh
the proposed change of Incorporation was
,5g2 out of 100000 preferred and lSl,GlO
out of 100000 common.
Passenger traffic of the Chicago ele-
waited lines increased Az per cent. during
the last three months over that of the
corresponding period in the previous
year.
1t was reported in Baltimore that the
Executive Committee of the United Rail-
ways Company is considering the IS
suance of $2,5OO,0OO per cent, securities.
The briggs Seabury Company will be-
gin the manufacture of 500 threeinch
guns for the British Government next
week. The company has been assembling
the machinery for some time. The con-
tract amounts to about S1,5OO,OOO.
For the year ended December 81 the
Detroit United Railway reported an in;
crease in gross earnings of $905,5iS and
a net gain of S366.4O4. Owing to increases
fixed and depreciation charges the surplus
decreased S9O,239 to $1,21O,76l.
The National City Bank of New York.
Is Offering 100000 Kingdom of Norway
6 per cent. gold bonds, due 1928, at
price to net about SIS per cent The
bonds are payable, principal and interest
in gold at the bank. They are exempt
from tax now or hereafter to be levied
by the Kingdom of Norway and ire
spective of whether the holders OF the.
bond or its coupon is citizen of u
friendly or hostile State.
The American Writing Paper Company
reports for the year ended December 81,
1915, net earnings amounting to Sl,lS576O;
interest, etc, received, $H,2H; expenses,
S49,99O bond interest, SS5OOOO; sinking
fund, s95O,OOO; deficit, $l26,955.
The New York banks gained S677000
from the Subtreasury yesterday, and since
Frid,y $2,l36,OOO.
The WillysOvcrland Company reports
for January last the shipment of 1882
cars, as compared with 46l5 in January,
1915. Shipments have been over 600 cars
day during the past 10 days and on
Monday last totaled 722 cars Orders for
immediate delivery, it = stated, largely
aXpaad pOmDany'g production.
The Republic Iron and Steel annual re-
port shows net earnings of S5,439,59S,
against S2,33O,672 in 1914. The surplus
was S3515,S19. against Sl,O2S,74S the pre-
vious year. and equal to IA per cent.
earned on the preferred stock, compared
with All per cent. earned in 1914
Shareholders of the Butte Alex Scott
Company have accepted the offer of the
Anaconda company of S5O,OOO for the
mine. This will mean $40 share for the
Scott stockholders.
An extra dividend of l per cent. was
declared by the Griffin Car Wheel Com
pany in addition to the usual distribution.
The Board of Representatives of the
New York Curb Market Association has
listed and admitted to quotation the vot-
ing trust certificates of the Dawson
Chemical Corporation representing 15O,-
900 shares of no par value, and the 1.OOO.-
900 capital shares of the Scratch Gravel
Gold Mining Company, par value 81.
During December, 1O7 railroads earned
Sl49,344,574 and expended $96.340,674,
according to a statement issued by the
Interstate Commerce Commission today,
The net revenue was $53,OO3, 800, as com.
pared with SS2921,729 for December. 1914