Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-03-11
Financial Briefs

William Il. Whelen, Of Townsent,
Whelen X CO.. has been elected di !.
rector Of the West End Trust Company.
A London cable says IL is officially
announced that in the week ended
March 8 no gold was exported to
America. .-...
Time for deposit of the 7 per cent
cumulative adjustment mortgage bonds
Of Denver and Rio Grand Railroad
Company, with the American Exchange
National Bank. of New York, has been
extended until March 81.
Bradstreet's reports business failures
for the week ended March o number
Old. which compares with 454 last
week, 323 In the like week Of 1921
1913.
The three outstanding convertible
bonds Of American Telephone and Tele.
graph Company: original issues Of which
totaled $267 ,OOO, 900! have to date been
reduced BY conversions into stock to
$41 ,366, 900. Conversions effected since
January !. totaled 1921 800.
The United States Treasury will call
upon depository banks for repayment
March 10 Of about one third Of Govern.
inent deposits made with them February
l last. In this district this will amount
to nearly sso,OOO,OoO.
Investigation of the affairs Of the
American Smalting and Refining Com
pany BY stockholders committee has
been thorough and details will be sub.
mitted to shareholders after Senator
root has studied the report Of the in.
vestigators.
Operating revenue Of subsidiary com. .
panies Of American Railways Company
IN February totaled 81. 500, ACT, de-
crease OF $50, ,14S. For four months
ending January 81 the net income Of
BY American Railways was 1901 ,O22,
increase Of $3.50, ,74O.
American International Corporation g
annual report for 1921 will be issued
In few days. It Is understood that it
will show n small balance on the right
side of the yenr's income account, the
parent cOmpnny's net earnings being
almost entirely Offset by losses of sub
sidiary companies.
Wisconsin Telephone Company has
disposed of $5.OOO.00 7 per cent pre-
ferred stock to it's customers. Sub.
scriptions averaged slightly less thaS
seven shares per purchaser. About one
half OF the issue was distributed by EN-.
ployes Of the company the balance by
local banks and investment houses.
Annual report of the White Motor
Company for the year ended December
II, shows deficit after charges and in
ventory adjustment Of 81, ,S37 .319. This
compares with surplus Of $2,41O,O14.
earned on the $25.OOO, 900 capital stock
in the previous year.
Discussion Of financing by the Ma.
tional Enameling and Stamping Com
pany Is assuming more definite form and
some announcement may be forthcom-
ing soon. A bond or note issue of ap-
proximately $15, 900, 900 is under discus.
sion by the board. Object of the pro-
posed financing would be to provide ad-
ditional working capital, but chiefly to
provide for extension Of steel plants.
The amount Of 8 per cent 1927 Brit
exceed f5, 900, 900 and will be in denom-
nations Of ESQ, f1OO, 200, $500, $1,000
and $4,000, with exemption privilege
from corporations profit tax and rank
equal to those issued in January. First
dividend is payable August, 1922. Ten
ders for bonds must be in amounts not
less than $4,000.
New York Telephone Company has
Issued its annual report for the year
ended December 81 showing balance,
244, ,543, equivalent to $3.50 share
earned on the $159. .S4S,017, average
of stock outstanding during the
year. This compared with balance of
SO ,O70 ,O73, or S4.O4 a share, earned on
the $3.50, 900, 900 capital stock In the
previous year.
United States Glass Company for the |
year ended December 81, reports net
loss of $5321, after all charges except !
inventory less and depreciation, includ. |
Ing charges of S109,5S6 for extraordi.
nary repairs, replacements, etc. Net |
vas $12.174 and reduction of inventory |
values due TO decline in market $685. |
$50. making a deficit for the year Of !
s4OO. .055. Dividends amounting to |
S12S, 900 we're paid during the year.
Tidal Usage OIL Company income
statement for the sixteen months ended
December n, 1921, shows gross earn
ngs from oil and gas operations of
s2. .6O6. .O01. After operating expenses
If $3.50, 213. general and administrative !
expenses of $521 ,9SS, and net interest
expenses of $194 .62S there remained
,perating earnings of $1,13O, 282,
Other income from rentals brought this
I'D to 81 ,134 .95S. before allowance for
depletion and depreciation.
American Gas Company for the As
YTrH - Il