New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-04-18
Royal Dutch and Shell Transport

Royal Dutch and Shell Transport
Since the receipt of cables from
London that the Royal Dutch and the
Shell Transport companies are plan
ming new issues that will be offered to
shareholders with attractive subscrip-
ton rights buying Of the dollar shares
has been of an active character. Ac-
cording to reports the Royal Dutch
will increase its stock by 40 per cent
and offer. the new shares to stockhold-
ers at par. The Shell company, it is
reported. plans to declare a 40 per cent
stock dividend and to offer an amount
equal to 40 per cent of the present out
standing shares to stockholders. The
latter company is not expected to take
action until after the announcement Of
the English budget so that the manage
ment may get an idea with regard to
what taxes it will have to pay. Inter-
ests close to the Royal Dutch state
that the management is considering the
ACCESSIBILITY of spending between $780,
000,00 and $500, 100000 in the develop
ment of its Mexican properties this
year. Of the total outstanding stock
of the Royal Dutch it is estimated that
between and 8 per cent is held by
American investors and that from 8 to
per cent of Shell Transport stock is
held in the United States.
A. T. & T. Dividend Policy
It was said yesterday that the death
of Theodore N. Vail will not alter the
dividend policy Of the American Tele-
phone and Telegraph Company. Di-
rectors and officials have not only con-
Cured in Mr.. Wallis idea of making the
stock straight per cent dividend
payer so long as rates are on reason
able basis. but it is understood they
hold the view that If earnings warrant
shareholders should be given larger
distribution. The statement issued by
the company last week showed 295 per
cent earned on the capital stock for the
three months ended March 81, the lar
gest for any similar period in the COM
pany's history. A statement from semi
official sources says: shareholders of
the American Telephone and Telegraph
Company can look forward to policy
both in dividends and future develop
ment in line with the high ideals Of the
late chairman Of the board"
General Motors Cuts Prices Abroad
The General Motors Company, Ltd,
has decided upon an Immediate reduc-
tion in prices of it's standard models in
Great Britain, according to the Ameri-
can Chamber of Commerce in London.
Prices of the Buick and Oldsmobile cars
have been cut f70. BY making the re-
duction retroactive from February 10
the company, it is said, has taken a
step without precedent in the English
motor industry. All purchasers of the
cars since that date will receive re-
fund of e70. 1t is expected that the
other General Motors passenger cars,
including the Chevrolet, the Cadillac,
n-1. IL.
be lower in Great Britain in the near
future. "The British motor industry"
says the American Chamber, "has re-
ceived the announcement with mixed
feelings, as competition will be greatly
intensified"
A Growing Industry
Few persons outside of the public
utility field realize the magnitude of
the growth of the electrical central
station industry. Figures of opera
tions of central station companies in
the United States in 1919 as compiled
by Henry L. Doherty & Co. are strik-
ing. The 7,243 central generating sta
tions last year generated 1850 100000
kilowatt hours Of energy and employed
100000 men. This current was carried
over more than $1,000 miles of high
tension transmission lines, serving, in
addition to the many industrial estab-
lishments, more than 100000 homes
with light and supplying light and
power to more than. 100000 business
establishments. More than 5,O0O,O 900
electric motors were in use at the end
of the year. 1t is estimated that there
yet remain in the United States 14,000,-
900 houses to be wired for electric
light, and 10000 industrial establish
ments to be equipped with electrical
power.