New-York tribune., 1920-03-13
Standard Oil
Stock to Go ON
The Exchange
New Jersey Corporation
A ban dons Traditional
Silence to Find Broader
Market for Its Shares
M ay Split Stock
Price on Present Basis Too
High to Permit General
Speculative Public to Buy

The New York curb market will lose
its greatest sources of prestige and
the Stock Exchange will gain what will
undoubtedly prove to be one of it's
greatest investment and speculative
mediums as result Of steps being
taken to list on the "big board" both
the $98,338,3 common stock and a
similar amount of per cent cumuls-
tive preferred stock Of the Standard
OH Company Of New Jersey. Applica-
ton was~ made yesterday to list both
issues o'''
With the formal approval of the New
Jersey company's application it is be
leved IN the financial district that it
Will not be long before action will be
taken toward splitting up of the
afford the small investor an opportu-
nity to buy the stock At the present
time majority Of the so-called Stand
ard Oil issues are selling so high as
to be placed in a class where only
individuals Of large means can afford
to invest in them
Detailed Information Filed
An official of the New Jersev COR
poratlon stated yesterday that with
the application to list the shares there
was great mass of information about
the affairs of the company sand its
subsidiaries, including balance sheets.
income accounts and details connected
with all the properties: He said that
TINS could not be made public, how
ever. until the listing plans had been
formally concluded
The practice of making public infor-
re-
tion was lnaugurated by the company
last July, when the issue of preferred
stock was created. j. p. Morgan e.
Co., as underwriters, were given 4
complete statement, the first balance
sheet issued by the company since
1906. This showed total assets of
Soo2 ,543,O OPS; plant, stable and floating
equipment, less depreciation, valued
at 249,827,931. Stocks in other cor
porations were valued at s23 ,o09, ,449,
government bonds and other invest
mens securities at s93,452, 1863, inven-
tories Of merchandise at S160,5O5 ,28O.
accounts receivable at S151 800 ,085 and
cash at S13.201 085. The nominal liza
bilities consisted of $98,83s, 300, the
present capital and $492,315 reserve
for annuities, leaving surplus. in
Guiding reserve for working capital, Of
S463,712, ,4O9
AHe bd!dHCe SNCeC ISSUED Dy the
company in 1906, at the time Of the
government dissolution suit of the So
called Standard Oil trust, showed. net
assets as Of December 81, that year,
including the thirty-three companies
afterward segregated, of 1859 400, 1893
At the time of the sale of the pre-
ferred stock the company disclosed
earnings for 1918, before deduction of
Federal taxes, amounting to $101,614,-
ia3. Taxes paid in 1918 totaled s44,-
32Q 1859, leaving net earnings of $57.-
2S8,784, out of which $40, 9,667 500 was
paid to stockholders in dividends
Others May Follow
As result of the United States
Supreme Courts decision that stock
dividends are not taxable as income it
is believed that not only will the New
Jersey company split up it's shares into
smaller units, but that other former
subsidiaries will follow similar pro-
cedure or else declare handsome stock
dividends. An idea of what this would
mean to present stockholders may be
CLEANED from the following table show
ing yesterdays closing bid and asked
prices for the principal Standard Oil
issuaa.