Every evening, Wilmington daily commercial., 1921-03-23
FINANCIAL NOTES.

sales OF large blocks OF Penn seabosrd
Steel have been estate holdings and orig
mated in Pittsburg and Philadelphia
At the annual election Of the PennSyi-
yania Railroad Company yesterday the
stockholders authorized the 500 600 900
the directors whose terms expired
Wall street has theory that the du
Points are distributing General Motors
stock through the marAet. This would
seem to be improbable, in view OF the an
nouacemeut in the recently issued annual
report Of the du pont company that the
MANAGEMENT was working out plans 70 per
uianently finance the purchase Of Durant
stock made last November
The Nanadium Corpora tion OF America
yesterday discontinued dividends on its
.i73.334 shares OF no par stock. J Leonard
keplogle. president Of the company. ex-
planned that the action was because OF con-
tinued business depression and a desire to
conserve cash resources II is understood
that the bad prospects Of the company
for business in Europe had largely TO do
with the dividend suspension.
The Lehigh Valley yesterday announced
reduction Of 80 cents per ton in its prices
for prepared sizes of anthracite. The Read
ing and Lehigh Navigation are still holding
out against the break which was started
by the Erie ten days ago.
Yesterday report said StudebaEeT and
Plerce-Arrow were 20 be merged. Today
Chandler Motors was added to the imh giTl-
ary combination. These rumors did woman
service IN the motor markets OF 1916 ana
now are being used to adorn an otherwise
wholly speculative movement officials in
the several companies deny any merger Is
contemplated
New financing which has been contem-
plated by the Coca-Coia Co. is reported
unnecessary, owing 10 increase in the vol
ume OF business. Sales are reported al the
rate Of s2UO. 900 monthly.
Unsettling runors regarding dividend ac-
ton by Pennsylvania directors in May Gid
not look so important yesterday when q
director stated that he could see no reason
70 cut the payment because the showing in
one quarter Of the year was poor. When
asked what the indica tions were, ne said
that he was not al all certain that TO
ductiOn would result. that he believed i'm
plicitly in Pennsylvania d successful rail-
directors whether the full amount should
be paid. part Of it possibly out OF surplu:
account.
More than majority of the members oi
the New York STOCK Exchange have signet
the petition TO close the exchange on Easter
Saturday The governing committee vii
act on the petition today. Last year bhs
exchange members were granted doubl,
holiday. but in 1919 and 1918 the bosrc
closed only on Good Friday. Pbtlhdeiphi;
STOCK Exchange authorities will follow th'
lead of New YORK.
United States Steel Corporations snnta
report for 1920 shows balance applicable
TO the s50S .302. 500 common stock Of SIS
474 $50, equal 10 sl6.62 q share, compared
With s5I ,574 .9o5. or fIO-l4 a share in 1917
and the &lo0.0S7. 700. or s19.69 a share il
1918.
Surplus after dividends for 1890 va
35e.05e.425 compared with $40. .159. .7si il
1919, an Increase Of s32 500 e45 From tn
1920 surplus. however. $50 900 900 was ap
propriated for property additions nakin
the net carried 10 undivided surpiu. 10
the year S29.05e. .425.