Every evening, Wilmington daily commercial., 1920-04-17
FINANCIAL NOTES.

Net Income of the International Paper
Company for 1919 amounted to SILL
4qI. a decrcas of 81 OBJ 0S3, according
70 the annual report.
Stockholders of the Trumbull Steel
Company will meet May Is to authorize
increase in capital stock from S14 ,OOO,Ot
10 S25 1000. 600 to cover stock dividends
purposcd and sales TO employees.
France sold TO Germany last year 70
total Of ,2S3, $4,000 francs and bought
from ler to the amount OF 59O,696,UOO
francs
stock Of the Stutz Motor Car Company
ttkcn of the New York stock exchange
by request. the exchange having suspend
ell trading in it some days ago, went on
sale on the curb and brought higher
prices than ever reaching 724.
Crucihe Steel Co. 5 consolidated M
come account for 1919 shows net profits
Of s7.240 7S2. and surplus, December 81,
1919. Of so, ,420,29S
Inspiration Consolidated Copper Go
reported surplus income for 1919, after
charges and taxes, equal TO Sol
share. This compared with $500
share in the preceding year. -Nter dis
burScylents il showed a deficit for the
year 0f -, 9O5.l73.
Nothing in the annual report Of the
GrueTal Motors Corporation, issued last
THURSDAY indicates ANYTHING IN respect to
the Electric Storage Battery Company,
unless il Is that among the system COM
paulcs there is none making storage
batteries.
The Sinclair Oil and Refining Corpora
tion contcmplatcs S500O0,000 new stock
issue; the Roval Dutch. the great British
oil cumnanV shortly Is 10 make new
stock allotment Of perhaps 40 per cent,
much of which will come 10 the American
r-ariIrt: the General Motors Corporation,
earning at the rate of probably Sl60, ,0OO,-
600 net for this year, as now estimated,
will soon 90 10 its shareholders with m
attractive proposition to provide itself
with about $50 0OO,000 new capital the
Atchison Union Pacific, New Jersey Cen
tral. Southern Pacific and Norfolk and
Western, among railroads, will have Sc
curities. probably equipment trust certlil-
Gates. to sell Just as soon rs their bankers
sec the investment market signals flash
clear for full speed ahead, from the under
control signals which now show following
the SS5.O00000 railroad financing done
last week and not vet enough ahead OF
what l. following.
Phillips Petroleum Co. has decided TO
offer l2S.0O0 shares Of stock 10 stock
holders of record April 80 At s26.25 a
share.
~tudebakcr Corporation has made APP
plication TO list Sl5,0O000O additional
common stock on the New York EX-
change.
Ray Consolidated Copper Co. reports
fer 1918: Net income. after expenses but
before federal taxes, 81 ,666,27O, against
S4653. 455 in 1918.
Rcplogle Steel was carried 10 a new
high pIIcc Yesterday al - ,. II was re-
ported that the plan Of some months ago
80 combine the Lackawanna Steel, the
Youngstown sheet and Tube Company
and the Inland Steel Company has been
taken up again.
Stock dividends so far announced since
the supreme court on March s decided
they are not taxable have aggregated
about Sl36, 6,On0000, the largest amount
and value being those by the American
Tobacco, Crucible Steel, Studebaker Cor
poration and Stutz Motor Company.
At the annual stockholders meeting of
the United States Steel Corporation on
Monday Judge Gary expects TO have some
thing TO say supplemental TO the annual
report.
The William Cramp & Son Ship and En-
eine Building Company has received from
the HydrO-electric power commission OF
the province of Ontario the largest con-
tract for hydro-electric equipment over
placed. |, is for three ID, 5,000-horsepower
turbines to be installed IN connection
Nth new Niagara falls water power de-
vclopfncnt