Every evening, Wilmington daily commercial., 1920-03-29
FINANCIAL NOTES.

The Eiamond Match Co. earned s12.s1 a
share on its Sl6 6.965, 100 capital stock in
1919. compared with s12.13 in the previous
year according to the annual report by
President w. A. Fairburn. presented at the
annual stockholders meeting in Chicago
yesterday. Total earnings for 1919. after
taxes. were s.. la, ,545. as compared with
S2,05S .621 in the preceding year. There
was carried TO surplus SSl6,3o7 against
Corn Products Refining Co announced
an extra dividend of one-haif of per cent
on the common stock, in addi ton 60 quar-
terly of L per cent.
Stutz Motor stockholders have authorized
an increase in the capital stock from 900
shares of no par value to 100000 shares of
no par value. The additional 2o. 900 shares
are TO be used TO pay the stock dividend OF
BaItimore- Detroit and Pittsburg Stocs
Exchanges viii conform 10 New York Stock
Exchange hours.
for the year 1919 net profit. after taxes.
Of S157 .492. equal TO 81 20 share on I24.-
0SS shares of stock without par value. as
compared with s457 Col in 1918.
Pennsylvania Railroad stockholders. as of
February y last, number l2l $50; an in
crease of I3,04O. compared with the same
time last year The average holding per
stockholdcr is s2.I3 shares, d decrease Of
t. sc shares. d new record.
Two new financial institutions to be 10
Gated in Philadelphia have been chartered.
the Pennsylvania Mortgage and Guarantee
Co. capital $500, 600, and the Pennsylvania
Bank and Trust CO.. capital s200. .OOO.
Nearly $4,000 acres Of oil lands in West
oil Co. They are stated TO have settled
output now averaging 265 barrels day.
selling at s6.10 per barrel.
All Byilesby electric properties report for
the week ended March l3 energy output
leI per cent greater than during the cor
responding period last year.
Electrifica tion of the South African Rail
WAYS Is under consideration. the estimated
cost. covering 1921 miles OF line and neces-
sary new equipment being SSS 100000.
Capital expenditures aggregating s64.-
OO0. 900 have been made by the New Haven
Railroad system since June 30. 1910. as
stated by G. l.. Bardo. general manager,
who says to employees that cost of railroad
service to the public must be justified by
improvements in service.
Pig iron production for February accord
ing TO the Iron Age. was 2-97S.S79 tons,
compared with 3.l05.1sl tons for January:
Daily average was 102.720 tons. compared
with 81 .264 for January and Io5.oO6 for
February. 1919 There were BOA furnaces IN
blast March /. with an estimated capacity
of IO4. $50 tons daily
Including twelve banks chartered last
week, there are now exactly 5000 national
banks in the United States
Present prices on box cars are around
s.. 600 each. as compared with $500 before
the war. The American Car and Foundry
railroad requiring about 10 900 tons of steel
establishment Of a bank in the Argentine
republic by prominent Argentine and
American financial interests to foster
reciprocal banking and trade relations
between the two countries has been ar
ranged. The Mercantile Bank of the
Americas will hold much of the capital
stock of the concern.
The improvement shown by investment
conditions constituted another important
development OF the week. This was mani
tested not only in the presentatio Of many
excellent statements of earnings. but in
the large subscriptions 10 new under
writings. which amounted in the aggregate
to almost 500, 900 O00
Announcement is expected soon of arrange
nents for the General Motors Corporation
10 enter the European field as a manu-
fscturer of automobiles and trucks. This
step would follow the entry of the Ford
Motor Co. into England few years
ago and the more recent entry of the
WHY'S Overland Co. through consolidation
with British interests in Willys-Overiand-
Crossley, Ltd.