Every evening, Wilmington daily commercial., 1920-04-01
FINANCIAL NOTES.

Alfred l. du Pont has been elected a
director of the Franklin Trust Com
pany, of Philadelphia, succeeding A. Z.
Woodman, who went on the board tenn
porarily because of the death of his
brother.
ROYAL Dutch is said to be making
plans to develop properties of Corona
Oil Company, one of its Mexican COM
panes.
The American plan for financing
foreign sales of copper has been approved
by leading French consumers, 1T is an
nounced.
1t is understood that the Chandler
Motor Car Company will make q stock
dividend of so per cent and then place
its stock on II per cent dividend basis.
The S3,j5S3 holders of common stock
shown by United States Steel Corpora
tion makes an increase of 9,265 In last
three months and 5,565 over previous
high. An increase of 723 was shown
in number of preferred holders.
Elisha Lee, vice president OF the
eastern region of the Pennsylvania
Railroad, will address the Philadelphia
Chapter of the American Institute of
Banking at its meeting on the evening
Of April on the railroad problem.
Several copper agencies yesterday ad-
-
cents a pound, followed by lively bid
ding at that price. Export trade to
England. France and Germany is said
10 be quite active Sales for last month
are estimated at $50, 900, 900 pounds.
The Western Union Telegraph Com
pany's annual report for 1919 shows
surplus available for dividends equal
10 Sl065 share earned, as compared
with Sl0.49 a share earned in preceding
wear. Gross revenue last year amounted
TO s55, 300, 600, an increase of about
$1,000, 900 from 1918.
Investors In German municipal and
pther bonds arc being advised not to
send coupons to Germany to be cashed
until they receive required affidavits as to
foreign ownership, otherwise the coupons
are subject to internal taxation. Remit
tance OF the formal German afhdavits are
being delayed In due course American
investors will be able to lodge blanket
affidavits in Germany to cover their
coupons sent over.
w llys-Overland Co.'S English sub
sidiary, Willys-Overiand Grassland Co,
an January | had orders on It's books
in excess Of the number OF cars which
can be produced this year.
American Express continued It's sky
ward movement today and sold at the
highest price since 1912. The move
ment is based upon the report that
there will be a consolidation OF all the
banking business of the express COM
panies. and the American is expected
10 offer the new shares to its stock
holders.
Sales of copper for last month are
conservatively estimated at S250,000,000
an amount at least 80 per cent IN excess
of the current production. The price
for the metal is now firmly established
al 10 cents per pound. The copper in
dustry is now working to restore the
use and consumption of copper in Eu-
rope TO full proportions, and expanding
exports Of the metal are anticipated by
the trade.
Following yesterdays session of the
stock exchange, during which frantic
bidding of shorts sent Stutz Motor up 81
points more, to a new high record, the
stock exchange governing committee
suspended that stock from the list and
rules that further trading In it is for
bidden Existence of AN enormous short
interest said to be larger than the amount
Of stock outstanding. has created
situation which members of the govern
ing committee apparently believe might
lead 10 d market panic such as that
caused by the famous Union Pacific
corner unless immediate steps were
taken 10 avert the danger. The ruling
applies not only 10 trading on the floor
% the exchange, but TO private transac-
tiOns between members outside the
exchange and is without precedent In the
history Of the institution.