The New York herald., 1922-12-08
SHAREHOLDERS GET
DIVIDENDS In STOCK
VIII Participate Under Plans
for Cutting Of Melons by
Big Corporations.
SOME EXTRAS IN CASH
Seaboard Bank to Pay 2 P. G.
Additional-1O0>P. c. by
Paige-Detroit.
SOME EXTRAS IN CASH

Directors of the Continental Can Com
pany recommended yesterday that its
common stock be changed from 10000
shares of the par value Of 500 TO 100000
shares OF no par value. and that the
stockholders receive In exchange two
and two-thirds shares of the new stock
for each STARE of common stock now
held. At tn same time the board de-
clared a divid> nd of 70 cents a share on
the new comii.on stock, payable Feb
ruary 15 to stockholders of record Feb
ruary 5. in addition to the regular quar-
terly disbursement of SIZE a share on
the preferred stock, payable January ]
to stock OF record December 70.
An official of the company said that
the offer of stock was not stock
dividend, but rather readjustment OF
the par value of common shares. The
recommendations will be acted on at a
special meeting of stockholders called
for December 90
The Paige Detroit Motor Car Com
pany has declared 100 stock dividend
on its common stock. payable Decem
Der % to holders of record December y,
in addition to a cash dividend of 3. per
cent, payable on January to stock of
record December Is. The regular QUAR-
terly disbursement of 1% per cent. on
the preferred stock also was authorized,
payable January to holders of record
December 10.
To Reduce Capital stock.
Directors of the Crescent Pipe Line
Company have called a special meeting
of it's stockholders for February to
vote on reducing the capital stock from
s., 900 900 to 81. 10000 and reducing the
rar value of the shares from $50 to $26
The board intends to distribute to
stockholders pro rata in cash the capital
assets represented by the amount of the
reduction in stock.
Directors of the Seaboard National
Bank declared yesterday an extra divi-
dend of per cent. on the capital stock
in addition to the regular quarterly
dividend of per cent Both dividends
are payable January 2, 1923, to stock
holders of record December &C. 1922.
Stockholders of the New York Title
and Mortgage Company have approved
an increase in its capital stock from $4.-
100000 to $5.000,000. half of the in
crease to be distributed pro rata to the
shareholders and the remaining half to
be offered to them pro rata at par.
For the purpose Of paying a SO per
cent. stock dividend the stockholders of
the Lawyers Title and Trust Company
have ratified a proposal for increasing
its capital stock from s4,000,000 to S6,-
100000
The Davis & Brown Woolen Company
has filed a certificate with the Massa-
chusetts Commissioner of Corporations
showing an increase in capital stock of
1850 shares (s100 par). which will be
distributed as a stock dividend on the
basis of ninety-seven shares for each
three shares now outstanding.
Home Insurance Dividend.
Stockholders of the Home Insurance
Company will meet on December rs to
vote an increase of $6,000.000 In It's
stock for the purpose of declaring 30
per cent. stock dividend
At the annual meeting OF stockholders
of the Franklin National Bank of Phila-
delphia a vote will be taken on plan to
increase its capital stock from $l,b0O.000
to $4,000, 900 for the purpose OF distribut-
ing a stock dividend.
The National Sewing Machine Com
pany has increased its capital stock
from $500, 900 to $2.100.000 for the
purpose of paying a stock dividend.
A special meeting of shareholders of
NJ Lowenstein &c Son will be held on
December 90 to VOTE an increase in
stock and the distribution of 100000
of new second preferred stock to the
common stockholders in the ratio of
share for share.
stockholders Of the Real Estate
Title Insurance Company have voted an
Increase of 100000 in its stock for the
purpose of declaring a 33 Ia per cent.
stock dividend on s1.500,000 outstand-
ing stock.
The board OF directors Of the Elliott
Fisher Company have adopted resolu-
ton recommending that authorized capi-
tal stock be increas sed by SO, 900. 900. Such
Increase. IL approved. is to consist Of
80, 900 shares of series b common stock
Of the par value OF 800 each. raising
the total amount OF the authorized capi-
tai stock to s6.500,0 900. The recommen-
dations are in connection with plans
for expansion.
The National Breweries Company.
Ltd. has declared a dividend OF 1 1-2
per cent. on the common stock and the
regular quarterly dividend of "a per
cent. on the progsrred stock, payable jan
uary TO stock of record December 15.
The previous quarterly dividend on the
common was 81 quarterly.