Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1920-11-02
FINANCIAL NOTES

Fiectiou day and legal holiday all finan-
cisl Institutions and exchanges viii be
closed 10 business today
For the third quarter the studebaker Cor
poration reports net profits after taxes Of
y $50. - decTease or 81 2l5 ~ with
gross sales ~ So s23.6ll. or S6.674 62s
more than for the same period last year
special meeting OF stockholders OF the
American Cigar Co. has been called for
November - TO increase the common stock
from $40 900 600 10 $50. 600. 600
I nited Fruit co has declared stock divi-
81 81 share which will re equal to a rate
% per cent on the common STOCK after
the payment 90 the stock dividend
The Packard Motor Car 60 announced
reduction IN the selling price OF its new car
- sos 20 s2975 ON the other hand. the
-tutz -otor Car Co advances is prices
effective November 20 s4OO The Fisk
Tire and Rubber Co reduces prices on it's
fabric csslnss 10 20 l2'4 per cent.
Net operating income Of 81 900 $50 of
Baltimore OHIO for september was at
the annual rate Of s. 20 on the common
The southern Pacific Co owns more than
one-haf Of the $50. $50 .Oa5 Associated Oil
stock and s. .6l2 600 OF its first refunding
pef cent bonds The matter OF separation
Was referred TO the COmpanys executive
committee 20 work out an appropriate plan
Controller 81 Currency says reports OF
earnings - national banks for - months
ended June 80 shows total gross OF ST.
100 ~ .nOU and net % SZs2 .Os3 600 which
nsufes exceed all previous yearly records.
or tho total grooss earnings sl.OIl 600. 600
we're derived from interest and disrolln;
81 uuO.fHm from exchange and collection
charges and s9uOoo 600 from miscellaneous
sources Taxes paid BY national banks in
period totaled s794.4 .OpU interest," raid
on deposits S2s7 G31 600 and fnteres; paid
Reserve Ranks aggregated $50 720 600
saiariss am wages pad by banks amounted
- slt5 49, 600
Duquesns Light 60 and subsidiary
Companies report september gross of 81 J.
al8,4se and net % s3Ss 17S as against
spl5.3I2 and s3O5.ei in september 1919
~. - -
sss ~ <pe - a. compared with S.
st3 226 and 81 ] - l2J respectively IN the
same period lasf year
pisappoi o I ment shown by Wall street
~ the september earnings of the railroads
Vas not warranted. IL was predicted in this
column last August. before the higher freight
and passenger rates became effective that
september gross would be- large but that net
would De smaller than expected That
prediction was based on the known facts
regarding freight congestion and inef-
nciency on the part Of employees that
bacs wages % May were 20 be charged
Up that there was deferred maintenance 70
lpok after that some Of the highly prosper
Gus roads would pad their operating ex-
penses T. inakc the final surplus which was
"a be divided With the government as small
a. possible u Is safe 20 predict that the
statements for October will be more favor
abr than those published last week
Railway steel spring Co will earn the
" dividend on its common stock this
year with good margin 20 spare
The company j. doing repair work for the
railroad companies for the most part This
is a prom table business. and ought 70 keep
the plants going through the rest Of the year
and into the spring OF 1921
J.. Doheny estimates Mexican Petrol
cum earnings for 1921 will exceed those of
present year by 80 per cent and company s
profits this year compare fayorably with
1919 ueH contracts for 1927 production
slreadg made al prices some four times
figure which IL furnished oil on old
contracts
For the quarter ended September 80. 1920,
Phillips Petroleum Co reports net earnings
before depreciation, depletion and Federal
taxes Of 81 .s24 .375. as compared with SAY :
ab4 In the corresponding quarter Of 1919
For the nine months ended September 30
1870 net Earnings were 81 .52l $50. com
pared with iS1 .059 for the same period of
1910 The ninC months net waS equal 90
o. - share on the 600 600 shares al
sturk outstanding.