Every evening, Wilmington daily commercial., 1922-02-27
FINANCIAL NOTES.

The baldwin Locomotive Works has re-
cciVed an order for forty seven locomotives
from the Chicago. BURLINGTON and Quincy
than 81 Ooo, 900. The compny now has 20
per cent more business than last October,
and sufficient TO operate plant at current
rate for three months lnnled orders
total upward OF Sl2 oso. 600.
with the end OF the winter approach
ins" says Dun's Review. seasonal eSpan-
sion of operations begins TO develop in
various trades and sections OF the country.
and unemployment OF workers. although
remaining an unsatisfactory feature, is
rather less extensive than recently. The
Improvement In this connection has been
retarded by strikes AT some nanufactur-
ing ccntcrs yet wage reductions have been
accepted IN some instances where contro-
Nersies have arisen. and labor uncIrtain-
ties in the transportation and fue1 fields
have not. had a generally disturbing
influence
Is reliably understood. has earned during
this year so far net income in excess of
what - required 10 pay two months divi-
dont ON It's stock AZ the present per
cent rate There is also good banking In
formation TO the effect that the big corp
ration II now In ample funds and in no
need OF additional capital financing. The
management has under consideration
purchase OF largo number OF new cars,
realizing that any general and material
revival In business throughout the coun-
try would dicover the transportation facili-
ties short Annual meeting OF the company
Ia To be held April IL. and the report for
1921 viii be issued week in advance.
The American Hide and leather Com
pany reports for last year loss OF $3.50. =
p2O That compares with S7.oS2 Ssh for
the last half OF 1920. when inventories
were charged down heavily
The Railway Steel Spring Company re-
ports for 1921 net income OF 1851 .63-
10 compare with net income. beyond taxes
of s3.sS5. $50 for 1920.
The same powerful interests which have
..1.st st...- R.x.-lT I<1- ratx,
we're buyers o. the stock today, although
there Was some heavy proft-taking around
"a This is the highest price reached by
Rock Island since 1915. The strength
mcnt figures published last night Buy
ina orders appeared in considerable vol
ume from Middle West points
The annual report OF the Chandler Motor
car Company win probably be made pub
lie Monday Ii is expected to show net
profits OF about ss50.ooo or about SO q
share. as compared With s5.2l3.ill or
si3o4 per share in the previous year.
Earnings the first six months from orders
nov on the compAny's books probably will
cover the fun fears dividend require.
ments The company has no current
bank loans and both its cash and invent
tory positions now are OF the strongest
The movement toward better business
continue says the fenn Namonal ii ni BANK X
uneven and encounters obstacles Efforts
% reduce production costs through ad-
justmcnts OF wages and working hours
meet with resistance In some quarters
and labor troubles at certain points have
further restricted the public consuming
power Results OF retail distribution
disclose the influence OF economy, while
the demands IN different primary chan
nels reveal an unmistakahle undercurrent
OF Hesitation and caution The gain,
which appear. however. are OF whole
somp character, II moderate"
This Pacific Fruit Express Company ha,
placed with the Standard Steel Car Com
pan, orders for . 900 refrigerator car,
and with the Mount Vernon Car Compan!
orders for 700 refrigerator cars TIL,
Great Northern Railway Company has con
trac,ed with the Western Steel> Ca
Company. . subsidiary OF the Pullman
Company. for 500 gondola cars. and witt
the Pressed Steel Car Company for so
ys~nt low prices for Pennsylvania. Rail
road stock and the accommodating evi
d-nce that tine. company is getting contro
Of It's financial situation once again hav
resuGed In more small investment buy
Ing "a the stock Of the sig transportatio,
comlAny. The number OF shareholder
stood larger on February ]. at l4i ,sOs
than ever before. More than 90 per cen
Of the substantially $500. .oo0. 900 stock 1
owned In the United States, and the grea
bulk OF IL In Pennsylvania and New York
IL IL no secret that the management ha
IT'S heart and energies set on getting IN
earnings OF the company up again to th
point where IL will be possible 10 restore th
dividend rate 10 per cent. How 500
that will be possible depends on a goo
many things. But that is the goal sc
10 be reached. and from president dow
every one IL expected TO work and be sati
fed with no result short OF IL.
Plans are announced for financing III
new four-cylinder Franklin car followir
decision by Board OF Directors OF II
H. r. Franklin Manufacturing Compan
20 ofer Is. 900 600 In per cent Preferre
Stock at par. 500 per share, and 40,0(
shares OF no par value Common Stock
shSr will IA. q
600 600 In new capital which viii be d
vided In Approximately s., 500. 900 for ne
plant and equipment and $500. 900 4
working capital ~,