Every evening, Wilmington daily commercial., 1920-08-24
FINANCIAL NOT ES.

Bethlehem shipbuilding officials deny
the company will acquire the Pusey x
Jones yard at Gloucester, n. j.
Iowa State Railroad Commission has
approved application of railroads for
full 35 per cent freight increase on in
trastate rates, to correspond with IN
crease granted by Interstate Commerce
Commission on interstate traffic for roads
In western group.
Union Oil Coz of Delaware, CONSOLE
dated income account for six months
ended June 30, 1920, follows: Gross
earnings, S2,6l9, AS; general expenses,
etc, 81, ,19l ,ll2; net earnings, SS2S,-
SOB; other income, SSl4,57S; total in
come, sl,642, ,9f2; depreciation and de-
pletion, S405, SOL; federal taxes, $4,000;
net income, 81 ,IS7 1873.
The British government program to
head of naturalization OF the railways IN
Great Britain is to have all in England and
Wales brought INTO six groups and those
in Scotland INTO one through corporate ar
rangements rates to be fixed to yield net
revenue equivalent to that which all COM
panies merged had before the war Mile
age of all the British railways is about
that OF the Pennsylvania Railroad system.
Net profits of the General Motors Cor
poration for the first half of this year at
s35 l5l ,ll4. after all charges and taxes,
compare with $50, 591 ,9S7 for the same
period last year, an increase of more than
Si,50oO0O. The earnings carry through
8 6G per share on the now outstanding
common stock of no par value.
What action the Steel Corporation will
take as to prices for its product IN view
of the freight advances is widely discussed,
SAYS the Iron Age. A considerable volume
of business for 1921 waits on the decision,
l.. l.a
advance of many million dollars in the cost
of a years output of the corporation, but
also the duration of the present condition
OF insufficient supply OF steel.
The Certainteed Products Corporation
reports for the half year ended June 80
surplus income of 81 ,066, $50 for divi-
dends and corporate purposes. This
figures Sl26o per share balance income
on the common stock.
Stockholders of the Trumbull Steel
Company approved a plan for reduction
of par value of common stock from SlO0
10 S25 to increase its marketability and
enable employees TO purchase stock.
Total revenue aggregating S43. .91o,503
is reported by the Pennsylvania Rail-
road for June. the largest for any month
of this year and an increase of 81, 232. $40
over June, 1919. The previous high this
y =
in April the total dropped TO S34 ,003. .25l,
due TO the outlaw strike
Not so very long ago the Chandler
Motor Co. declared a stock dividend of
33 l-3 per cent, and just previously the
shares were split up So that stoekhold-
ers received three shares of no par value
stock for each share Of the old stock held.
Just previous TO the declaration of the
stock dividend, the shares were placed
on a SO annual dividend basis Thus the
stockholders who held the stock last
October are receiving an amount equal to
$40 per annum on their original holdings
As things are. the copper-producing
industry next to steel and coal, the greatest
basic nsustrv, OF the country, is in safe posi-
ton and ready to expand quickly and easily
As demand for its product increases. in |
the meantime its resources are being con- |
served by eurtailed output. The auto |
mobile industry IS here to stay and TO
deveiop in larger and broader WAYS. There |
Is some halt IN new orders, some cancella- |
tions Of those placed few months back. |
Certain of the smalier and less welI-es- |
tabIished companies have suspended op- |
erations. Others are having financial |
difficulties, but the big companies are all /
right and NAV be expected to gather to /
themselves business which others have had, |
particularly should 1t be that some of the |
smaller producing and assembling con-
Germs shall drop out for good.
The Explosive Trades, Ltd, one of the /
largest trading companies in England, adj
vises the United States government that |
1t has acquired a s25.000,000 interest in
the General Motors Corporation.
American Stores Company sales for
July were So, ,202, ,SO7, compared with
81 ,304 ,749 for the same period of 1919,
an increase Of 26.9 per cent, and for seven
months s60, 500, $50 with S42, ,521 ,S05. an
increase of Sl7,97S,755, or more than
AZ per cent