The New York herald., 1920-01-07
Financial Briefs.

After the meeting OF the Finance Conss
mittee OF the United States Steel Corporas
ton yesterday it was announced that no
action had been taken in the ailoting on
stock of the corporation for subscription TO
its employees. The question Of the number
Of shares to be offered and the price viii
be announced later by e. II. Gary, chairs
man of the corporation.
Willard King, president Of the Columbia
Trust Company. has been elected direc-
tor OF the Mercantile Bank Of the Ameri-
cas-. The Columbia Trust Company has
Joined the group OF banks and bankers
which are shareholders in that institution.
National Bank of Commerce has been APP
pointed registrar of the preferred and
common stock of the Canadian-Connect~
cut Cotton Mills.
An increase in deposits OF moro thaN
$4,000 900 In little more than q month
is shown by the Chatham and PheniN
National Bank in its statement for De-
cember 81, 1913.
Republic Railway and Light Company
has sold to the First National Bank OF
Cleveland $1,444, 600, three year per cent
guaranteed gold notes. The funds viii os
used to meet an equal amount Of Republjd
Railway and Light Company two ycar
notes due January Is. 1872.
p. w. Chapman & Co, Of this city and
Chicago. announced the opening oil o
London office at No. Angel Court
IThrockmorton street.
Interim receipts Of the new Locouie-
bile Company common stock nave oeea
listed on the Baltimore Stock Exchange.
Thomas A. Edison has sent the fos.oWinE
1920 message to Edison dealer ~ the
/ United states and Canada:-"Nc - 1ooH
to the future with confidence Ii.r 1la'lo't
lis sound at heart Irrespective ~ mere
we were born, you and l and u -ood
! citizens of these United States arc, imcri-
cans above all else. Race, class or sec
tional consciousness does not belong In I.
real Americans heart nat Is u"e u
us is equally true of our Canadiah heish-
borg Ii is the duty OF Caniida am mo
United States to set an example TO the resi-.
! of the world.
! Charles O'Connor Hennessy, president OF
ltbe Franklin Society for Home Huiidths
and Savings, the largest OF the co-opera-
I.ive savings institutions, reports thac tpc
wear 1919 was the most prosperous IN poplL
of new savings accounts and nome puyhS
activities of any in the society's history or
4 fhirty-onA wears. The society granted
during the year to home seekers small
mortgage loans for total exceeding
81. 400 oC0 and increased its savings fundS
more than s60o,O0.
The Stock Exchange firm OF Halle q
IsHeplitz has published a pamphlet on tina
general market outlook and the coppa1
Shares.
Stockholders OF the Sonora Phonograph
Sales Company will hold q special meeting
on January 30 to vote on increasing the
stock from 100000 to s',GooW through
the issuance Of s., 10000 per cent cumu~
Ilative preferred shares of 500 par value.
i The Liberty National Bank has been ap-
pointed transfer agent OF the preferred and
common stock OF the Ice Service Company,
Inc.
Directors Of Midwest Refining Company
! yesterday declared the regular quarterly
dividend Of 81 and an extra dividend of 80
: cents a share.
American Car and Foundry Company,
which recently completed Improvements
at It's Milton Pao plant at cost OF *co' :
Loco has announced arrangements for
doubling its capacity. approximately
5 $500 900 more Will be spent in enlarying the
plant during the present year, It was an
nounced.
Transaction on the Stock Exchange dur
| ing December totalled 2i,37o,sW shares.
That compares with 12174.400 shares for
December, 1918, or an increase of L, ,l96, 400.
Sales Of United Cigar Stores Company Of
America, which is owned by United Re-
tail stores Corporation, aggregated ssz-
O3s 900 in 1919 it was announced. That
ha 10 In
history and an increase of SO. .os7, 900 over
1915 The month OF December was the
largest establishing a record of s7,5e3.cc
Directors of General Development Com
pany have declared a quarterly dividend
dividend was 20 cents share, in Sep'em-
ber, 1918.
It was announced YESTERDAY that tie
proposal of the international Motor True
CORPORATION to take over the New Brur
wick plant and other assets of Wright
Martin Aircraft Corporation. value3 -
s. 10000 had been consummated. When
the consolida tion is completed 1nteTnS
tional Truck will have outstanding an
proximately sl6.C0o0oo firrt and soco~d
preferred. both issues paying : per corr
and being cumulative, ard about '>v''
shares without par value.
The Liberty National Bank has been an
pointed registrar OF tho capital stocS Of
A the Choate Oil Corporation.
The Robert Gair Company, boSboare
manufacturers, has absorbed the HaverhN
Boxboard Company. OF Itavcrhin. Mas
the Piermont Paper Company. Of Pier
mont. ~ y. and the Thames River Spe-
cialty Company, OF New London. Conn
according TO an announcement yesterday
Stockholders Of Robert Gair Company hava
authorized the issuance Of 100000 fire.
preferred stock. 100000 class ~ pre-
! ferred stock. the latter without yotir.
power, and $4,000 shares OF common
stock Of no par value. Both classes or
lpreferred will be : per cent cumulative
Bankers Trust Company Of New NorN
7 has published a brochure. "Financ'al
Status Of Belligerents." by Louis Ross
Gottlieb setting forth authoritatively ana
Interestingly the debt. revenue and ex-
pendltures and the note circulation OF the
principal belligerents in tho world war.
Stockholders OF General Motors Corpo-
rattan yesterdaN ratified tho osed