New-York tribune., 1920-03-11
Corn Products and Linseed


Corn Products Refining common and
American Linseed common were two
ot the strongest spots in the market
yesterday. These companies are sup
posed to be affiliated with Standard
Oh interests, and their strength was
apparently based upon possibilities of
stock dividend distributions. 1t has
been known for some time that the
american Linseed management is con-
sldering plan involving a capital re-
adjustment which will likely result in
stock distribution to the present
stockholders. At one time it was re-
ported that a second preferred stock
issue might be voted to be given the
present stockholders in the form of
100 per cent stock dividend. Yester-
day the Street heard that new COM
mon stock might be issued of no par
value, three shares of the new stock
to be exchanged for one share of the
present issue. Linseed advanced 2
points net to 83. Corn Products com
mon made sensational advance from
an opening of STA to a high of 92ss
closing at 91A, up SIS points.
Pere Marquette
The directors of the Pere Marquette
Railway decided yesterday not to accept
Section 209 of the Esch-Cummins law
This provides for the continuation of
Federal compensation for the period of
SIX months beginning March l. In other
words, the management prefers to let
the road stand on it's own legs rather
than lean on the government for an
other six months. This is not sur
prlslng move, however, since Pere Mar
quette mas been earning way and above
the amount guaranteed it by the gov
q ONT
1919, Tor example, it earned from r..
own operations the equivalent of sa03
share, whereas the Compensation a1-
lowed 1t by the government amounted
to only $1.23 share. Since its rc-
organization in 1917 Pere Marouette haa
made rapid strides.
Wanted: $55Oo0
). +. Morgan & Co. contributed s10,-
900 yesterday toward the s75.o1o ~
New York Stock Exchange is seek;ne
TO raise as it's quota of the s975 000
sought by the New York Association
Ior improving the Condition of the
aoor: a 90 lar the exchange committee.
cconslstlng OF William P. Hamilton
seymour l.. Cromwell, William A.
Greer, E. H. H. Simmons. Albert 81 on a.
hlchard Whitney and William J Rerr
mas mas obtained $4,000 Of the $4,000 to
oe raised as Its part of the campaion
Camoufiaged Reports
A great deal of good may be accom-.
Pushed in the interest of stockholders
oI corporations whose shares are ou;te
well known in the speculative and in
vestment markets, in the opinion> nf
clark, Childs & Co., if there were =
general demand for the submission Of
reports in more complete form. "rhe
greatly abbreviated and caref1li,,
I-camounaged annual documents thet - ~
now making their appearance" said 49,
1lrm yesterday, "are in maior;tv 'ns ~
cases an insult to the INTELLIGENCE NJ
tne average stockholder. Thew seen, ~
assume that 1T is enough ifuhe renort
shali stlpulate the amount of animal
net pront' that is carried to the nrof;t
ana loss account after all manner of
unspeclfled deductions for .Faderal
taxes rentals, depreciation. renewals
ana contingencies.' leaving to the ind.
men1 OF the auditor of the company TIA
matter OF what information it Is jas;rs
aoie !hat the stockholders, the real on
terprlse, shall be given. This is Shot
slgnted policy that is not poino N A.
anybody any good and which m oav ~ 49, Lo
enemies of otherwise vel, d;saaanl aan 5 )
owners owner OF stock. The Collector Of In
.eInal revenue will be the very first to
np.ice an annual report made up in the
absence sa OF detail. as was. for instance
.lNt OF the Loose-Wiles Biscuit Com.
! pany this, week, at whose annual mat.
> ing tnere was no officer with ability o,