Every evening, Wilmington daily commercial., 1921-01-22
FINANCIAL NoTEs'

rrt,r,attnns II excellent earnings Whic =
have c,tne from banking sources lueh'i l ~ 49,
-, , .,,t,st ttatesf yes today when the annua
report vas made DuhliC nis SHHN 'l~ 80 ~,
riiye ~ a. sac sal. as AGAINST = ~" ~
tes ,o, p,eI M n Xaucia4n. president of the
Baldwin Locomotive VOTES athlee n .,i,,, ~
port from Paris that the baloNt b ~ 1,,fa,d
l. ana,cfDg a transaction between loAHHt'a-
Eun,srfa and Bulgaria for the conft y, ~ 49, ~
~ railroad from the Baltic tc-Vhe t,ts. : ~,
Value cf eoe,o passef,ee' ,.st vear Was
l,z,adurad IN the United states las! tesr -
81 -ns 600 600 and Of 335, 600 motor =. s.,
ssz9 Oon 600 according to tho nat l%ohe % 80, -. (,
mobile chamber Of ConlIneFCe ,,st : 500 GOO
aatou,obiiee and trucks n the - i,;.o,,
erhpra was suggestion that the eht sIR -
r,ads hsxi. FOR action aimed 70 en9oht We
ronnpanv from paying more than p,. ~. 49, -
on ffs common stock en- the 81 s,,Its winch
69ins SO there So distribution ol lVt''ie % -
=, sv-nn, thaf the preferred STOCKS Cotle :"
sS.re eo,,aIIv With the common IN olssoIu I,
tfon Of assets would belong nan ''u" Isl
n r,rpfe~red and common ttocks. -
Oir,~tc-s ~ the Studebassr 1oTPot Soh @
u an meet January 81 to take aaN Nieeas1
tfon Prom sources IN close eSosi4 es.a4o,5 tLe :
-o-noration's affairs. tt 10 unoer s'"cS INC no !
~, ,e-,,lar quarterly dividend OF 81 per
cent win he declared In trace CIrNtes 49, y ss -
s.is thaf the new lines Of cars are stsAuills ~ s
- ~ 10y hotter than the earlier models, and
ice arc e,,ch as TO Justify sstisI actofy
.,r,Cets ,,ndcT the reduced operating costs oI
z. 44por erspc,al quarters heard that the
rCr5 Motor Company seeRs to arrange I'M
y,o~tsnf financing Il IS understooo luat Niie
r-onositiou IS for 2 loan, IN soTaS ! toIInJ - o1
s-otGG1 Gof, .,ith an ontion for $4,000, 900
additional later IN the wear making . t0Vhl OF
S4os 0n0 600 The concern is soundantly
solvent but has large sionit, r.s
fted ar in inventories, btlls rccelVsI,le- noW
slow Of collection. and cars Wnxh nave
bscked rp 1t is reported that the com
rsuv owes TO hanks chiefly in (inlcatSo' some
e4S ooo o00 INT that 1t has net quick assets
tn excess of such amount There stands
,hesd a very big tax bin for 1920 said 70
apDroTiusatc S66 .O00.000. 10 De settted
vl3th tho government during this year:
Rerresentatives Of farm ORGANIZATIONS nave
,t~red the banRing and currency committee
n the House Of kepreseI JlHes ~ SpptIes ~
$500 OO0. .000 credit to European countries
20 cover purchases Of American agricultural
products ....,,,.,so,7
Wage reduction Of IS per cent announced
st thp schenectady plant OF american
locomotive Company VIII be EXTENDED 10
Nev Work bankers conversaDt with Ford
Motor Company affairs confirmed reports
tbaf the corporation is negotiating Tor 8
Ia-ge loan Maturing obligations OF So
000 ono t0 $50. .000 900 must he taken care OF
~ any new fuRncinG. and large amount OF
money is needed for working capital. =
'Thero has been marked change IN, ~
l,,isiress sentiment, during the last rev
WEEKS and whereas pessimism prevailed
durinr the closing days OF 1920, business
men are now disposed 70 LOOK Ior"si,a A. pniy pUIe
hopefully to the new year sbSs 'lle AcAA"
National Bank Of Philadelpma- -, :.
Tlasv~v selling came into the eteei stocks To-
4av with RethleheIn and Republic leadlns
- 1arlive offerings OF the former were
Ia xed rarrlv on disclosures MADE yesterday
t,efore the Walsh investigating commttee
h which Charles n Schwab name
ae7,red nartlv on taIis Of dividend reduction
when the directors meet next week Anu
rnrfIv on the general feeling in Wall street
Lar me prices of steel products must pe
-edurcd -.
Pressed steel Car Co directors at their
meeting Friday recommended the oeclara-
tIor of z 20 per cent common STOCK olvi-
sIend Increasing the authorized common stock
lgetle from SO 500 600 OF 500 per value 70
$50. 600 600 and the exchange OF the Sl2,-
600 600 outstanding preferred stock par
value 500. for an equal amount OF common
storshoiders have been asked TO ratify
these proposals at the annual meeting 20 be
hold February l6.
Announcement Of the election of Frederick
Havnee as president and general man
acer ~ Dodge Brothers which was made
m New York last week is now followed by
q rouDlcte list of new directors and chiei
r.ocutivcs Arthur T Waterfall is madt
,lr.e-n president and assistant general man
aeer Harry Y. ROpeney secretary Of the
Corpnratiun and Reginald J. Fry assistant
.,-rrptary Charles W Matheson has been
advanced 10 the position of general sales
manager Howard b. Bloomer is made
chairman Of the new Board of Directors
The other directors are Frederick j.
Haynes. Arthur T. Waterfall and John
Ballantyne.