New-York tribune., 1920-02-25
Financial Items

Clarkson b. Bradford. Frank weeden
and sherman kimball have formed the firm
pose Of transacting an investment securi-
ties business.
Charles Wesley & Co. New York corre-
spondents OF Hollister, White & Co., have
ieiEoVcu their offices from 50 Wall Street
TO 1l5 Broadway
The New York Title and Mortgage Com
i'ann, pany announced ann Yesterday that business
amounted to s259oooo, one of f the }a"qasy bss+
months in it's history
General Motors Corporation has made
appiication a lon to list temporary certificates
WITHOUT par value, on the New York Stock
exchange II the application is acted
trad tpon aavoraoiy ", @ by the listing committee
trauinS IN New York it Will be inaugurated
at once upon the Stock Exchange. It is
proposed 10 convert temporary certificates
'h'o permanent certificates as of May g.
The National City Company has been
awarded an issue of s2.7oO, 900 5 per cent
serial bonds of the Commonwealth Of
MA MaGssnehusetts dated December l. 1920
Der !. 1920, on its bid of 100.7S9
-, At the annual meeting of the American
WI ritlng PAPER Company retiring officers
ana directors were Reelected
Norbert Rosenbrand. formerly manager
of the foreign bond department of I'm
norman & Forshay has opened on o0icc
at 70 Broadway to deal in foreign securi-
w,3h }hmGs Mari r. coaKley formerly associated
filiated with Leopold spingarn.
John NJ. Miller. will retire on March I
1920 from Henry Bros. & Co. ana viii
e. enter ,,. the New York Stock Exchange firm
to be located at his former Office. 100
Broad Street. Newark, N. j.
Henry Macdonald, president Of the Pub
nc Service Corporation of Long Island has
been elected a director of the Associated
Welding Companies, Inc
The heads OF the various departments
OF the All America Cables rendered a com
plmentary dinner last night to John l..
occasion being the thirty sixth anniversary
OF his connection with the company
Warren Gorrel. William ~ Wyant and
Chester i. Ericsson have organized under
the firm name of Gorrcll e. Co. to take over
the business of Warren Gorrell.
Tho Guaranty Trust Company of New
york is prepared to exchange a. its trust
department the outstanding temporary re-
funding and Improvement mortgage 6 p,r
cent bonds of the Cleveland. Cincinnati
Chicago st. Louis Railway Company
for detnitive bonds of this issue with cou-
pons que July l, 1920, and subsequent at
tached.
The Fidelity Mutual Life Insurance Com
pany reports an increase Of 81 per cent in
new business: The Fidelity increa sed its
insurance in force to sl73, 356, and their
new paid busines in 1919 amounted to
s34.125.474.
-. Announcement was made yesterday of
me $lOOOo,o00 merger of Penick 4 Ford,
Ltd, OF Louisiana, the largest Gamers and
dealers or molasses and cane syrups i'll the
united states and the Douglas Company,
producers of starch. corn oil and other corn
products. new company. TO be known as
Ienlck 4 Ford Ltd. Inc. chartered under
the laws of Delaware. will shortly take
over the two properties and will expand
the present scope of the bushes by
building the Douglas plant to include in
addition to starches and corn oils the man
ufacture of corn syrup and glucose. The
management of the company will remain
unchanged, and in new financing which is
planned the officials viii retain control
through the ownership of large majority
interest in the common stock which they
will receive for interests they now own.
An increase of slo.oO0.oo0 in its capital
stock has been made by the Crane Com
pany for the purpose of offering STOCK TO
Its employees. The capitalization was
changed from ST. 900. 900 to $4,000, 600"
according to j. B. Bergman. first vice
president. $50 that preferred stock might
be created. This will amount to the en-
tire increase. par value 500 and bearing
interest at 7 per cent, all of which will
be onered to the employees. Just how
much may be offered at this time. how
over. has not yet been determined
No change was made in the amount Of
tha common. but the par value Of The
shares was reduced from 800 to $.s.