Every evening, Wilmington daily commercial., 1921-12-15
FINANCIAL NOTES.

isnicl Willard, ~ president. and all
ler rhirf executives we're reelected yes
ard 81 directors of the Baltimore 4 Ohio
Inscriptions win h~ received for tn e
= United States thrift bonds 10 be IS =
u m denomination OF $50. $40 and
~ reaching, With interest, At maturity
b $50 aud 500. by tho Federal Reserve
nh ~ Philadelphia. including Delaware.
'o'ding TO announcement by Governor
Cniicd Cigar stores Co. reports for
irenbcf sales Of ~. ii7 900, against
tfiN 600 In November. 1920. and S5.-
5000 N elv For eleven months
lee reached s6a.sl7 900 against s72.-
Motor vehicle manufacturers have
opted u conservative attitude pending
Ncloplmcnts after the turn OF the
az, end the output for December will
the lowest Of any month sincc the
iis IL th, usual seasonal condition. how
~, and not In any sense surprising.
N,s Autcmotiye Industries. :.
Tho Board or Governors OF the New
orb stock Exchange today declined TO
ant the petition for closing the exchange
th' saturdays prscceding Christmas
~ >rw Years.
rhc first National Bank of Philadelphia
. 80 The year is ending with the
,~ncisl situation much stronger than
hen 1921 f-gan. for the country has
recy Debated It's ideas as well as It's
ices, during the last II months. De
mrnts and, slowly but surely. living
isiH ar, bring reduced and business Is
Inp rc.establlshcd upon o safe basis
iain. The outlook, in many respects
r,ionsl problems yet % solve. Ameri-
~ business men are resdJustlng their
'airs IA manner which Will insure
Nersl r,coNery later on
~ IH..s~ =
cher aud advanced 90 4ss.. The buying
q. based on report tnst dividends or
us issue are nearer than generally ex'
y. .',,,.l ysaellsIn, president Of Of the Bald:
ON New York for Europe. where be viii
ofrh toe Held spr orders. Ii H. expectcc
int rsiirpads IN this country Will b'
,'y considerable buyers OF both carr
lu locomotives during the coming year
ust nov trsffir IL falling OF. partly OF
iaspnsl account. and inside estims to-
fn that IN" railroads OF the couptr,
~ tS sbic 20 show net operating incom'
pf "a, lest two months Of 1921 scarcel,
iur- than that for October alone. which
NJ bring them 90, With about 5000. 900
pp Tor the YEAR. There L. no doubt tina
large amount OF business in the az
rsxatc n being held bacS waiting 10
,wcr railroad rates, aud in con6den
nticipation that they will be mad,
sriy neat Year. in addition TO the ll
ri cent reduction IN agricultural product
sfSe
Traders AFRO more favorable 20 Midysl
to~k than TO any OF the other low-price-
idrpcndcnt ktccls. They point 70 th
lrH, supplies of coal and iron ore whic
,c company acquired when IL took owe
Dc Cambria Steel Company as one q
o. reasons Tor their position. In th
ossip of the day IL Was said that Midyal
enter one of the two mergers of ia
ii'i'rnd.n' companies on basis a.
frinrlA favorable 70 stockholders.
fennsyl>ania Railroads = steel rail orde
% iVll l. expected 10 be announce
nortly The company this year vi
l~e b"t~ecn 100. .00O and 100 900 tons N
ste~st amount laid In one year sine
ntt, when 1902 tons were laid. for n
e~sls It's leftover stock from th
ear IL cspcsteJ 90 aggregate 80 900 tor
n' ~ ip2} order may total l5D 900 ton
should the appeal 81 the common stocl
ul'lrrs ~ the Reading Company he All
cid by the United Sta'ex supreme Cour
"a, rumpsn, viii have 10 distribute n
.iuuHA shares Of res coal stock 90 the
nlt aud at the rate OF one for one IN
issd ~ one FOR two. A. Will be the ca az
n' pses~frcd stockholders arc allowed
hare.