Every evening, Wilmington daily commercial., 1919-12-20
FINANCIAL NOTES.

The studebakcr Corporation has en-
nopnced that as as IN necessary somp.em"nss ~.
South Bend, Ind. there has been orEAn-
Ned Subsidiary known as the Cita1ons
Smss rSr". o9;l e.pltszssd sron a. ,co - oSc
modern homes for studebaker workers VIII
be erected during the coming year.
While the regular monthly earnings state. M
ment of Cities Service Co has not yet bern
bsr gross will be si'slsosi An iners~.e
after charges should total 81 .o47 .42s. an
increase Of S123.o35 over the preceding
month. and an increase Of 1922 t5b owe, tn the
this increase indica ting the steady advance
the company has been making In earnings
According to the Ir,n Trade Review. somo
S32 900 tons of steel rails have been ten
tatiyely ordered for 1920 delivery 70 rail-
York Central lines have distributed 1901
tons of rails with different mills for 1920
delivery contingent upon the railroads being
roads which buy in New York have ciossd
for about as much Other western lines
with official Headquarters in Chicago nave
reserved 400 900 tons. four eastern roads
are inauiring for a total OF $4,000 tons
Illustrating the price tendency in the stee
rerolling billets at $50. Pittsburg. an ad-
vance in shapes from 2.f5 cents TO 2:55
cents. Pittsburg. by two eastern mills; the the
quo tion of $50 cents, PtttsburE Tor
SIS per ton higher. on bar iron by eastern
makers and sales of plates in the Philadei-
pha district at 2.S5 cents and cents,
puts its price at cents for early delivery
and 8 rs cents for first quarter.
An electric power station. to cost II GOO
600 pounds sterling, will be erected on the
Trent river in Nottingham. England. pro
yided the recommendation OF a special
committee rs adopted.
The week has brought little change in the
rate of steel works operation. says the
Iron Age but il has unmistaka ably in
creased the frppa The
pcrpieNity of makers is n OF only that they
are oyersold for the first quarter and some
of them for the 1rst half. but that their
fuel costs have risen and arc likely 20 rise
more and that 1920 may brn higher iron
ore and higher rail frcights.
Onicial figures of loans made by nAtions
banks of the country to dealers in distilled
spirits as of September I3 show an aggre-
gate of only s9.2S9. .0s7.
The Supreme Court Of Illinois unheld the
[ right of tho public service commission to
fix electric railway rates.
Charles Fearon. of Charles Fearon A Co.
says. The franchise tax. which in the past
has been quite popular means of raising
revenues for municipalities, has had It's day,
and IL Is now a question III ~ should not DC
repudiated by the public service commits
sions the ground that . franchise grant
has no value to the grantee, but the bene-
ut is TO the grantor.
Corporate maturities in January arr nu-
mcrous although aggregate amount is mod
crate, s6u.2lo, ,34a. compared attn so5.7s5.-
ESQ in December.
New York stock Exchange has admitted
to list the following. General Electric 90.
on and after January Is 1920. 81 10000
capital stock Steuart-W arner Speedoueter
Corporation. 100000 common stock with
out par value in exchange for outstanding
common stock OF the par value Of sithlt
CuDa haiIroad Co. 81 ,14o. .OoO first mort
gage per cent, 5O-year coupon bonds. due
JuIy / 1857. Nos. Il .u3t to ~. .l7U inciu-
sive. for $1,000 each; A. r. Securities Cor
poraLion. temporary certificates for e30, ,etS
shares OF common stock, without par ralne
lort. Inc. temporary ccrtinca tes for 6stl, ,tsg
shares cApJkAt STOCK. without value
Detroit EoIson Co. s4,l65,ouo nrst and
July g. Gao Nos 12.Jlo TO 10. Asa, lnclu-
sive. for $1,000 each and Bethlehem Motors
Corporation, 53-a3s shares Of capital stock
without par ya-ue.
for the ~ months ended November arc
given at s2u.o2a.3s4 against 81 1856 ,936
for the previous year, and the balance in
come for the common stock and reserves
Is reported as sI3.334.5Sa, against sl7.-
A47 ,ees
duced by legislative effort. ! say Hughes h
Dier The necessities Of our working people
cannot be met by an increased wage which
again increases the cost of living. What We
steel ingot outipt in 1919 probably viii
fall under 35 .O00.O tons, compared with
slightly more than As 900, 900 tons IN 1918.
City Bank. Of New YORK; says: The The
finds itself confronted with hfty new
political divisions with newly defined areas,
new ethnic groupings Of population. and
therefore with new industrial and COM
nerciaI activities. new forms of govern
ment new political managers and law
makers new forms Of currency. and new
rela tlons to world commerce, industry and
finance.
sale Of the John Stephenson Company
plant by the J. II. Brill Company was
consurnrna ted some months ago. Payment &
OF the s325 900 bonds on the plant, called
for redemption january /, is merely an
incident.
Germany is reported IS contemplating
asking HIiroDe and the United states for a
loan or <3tnsl tsyD 600 giving customs re-
ceipts as security for foreign goods,