The New York herald., 1922-11-17
EXTRA DIVIDENDS
BY EIGHT COMPANIES
Two Industrials Vote Dis
bursement on Stock-ln-
creases Made.
ONE GROUP DISSOLVES
National Supply Company to
Reincorporate Under the
Laws of Delaware.
ONE GROUP DISSOLVES

Two industrial corporations announced
yesterday their decisions to declare stock
dividends Six other industrial and pub
lie utility corporations announced in
creased or extra cash dividends
Directors of the Magnolia Petroleum
Company of the Standard Oil group
have recommended that its capital stock
be increased from $4,000. 900 to $780,
000 900 to declare a stock dividend OF so
per cent. Authorization will be sought
from stockholders on December 2.
Directors of the National supply Com
pany have decided TO dissolve the Ohio
company, reincorporate under Della
ware charter and execute a recapitaliza-
tion plan which will result in stock
dividend of so per cent. on the common
stock. Of so per cent. in preferred stock
and 25 per cent. in common stock Of the
new Delaware corporation. The present
preferred stock is to receive S105 in par
value of preferred stock OF the new COM
pany for each 500 par value share or
the present preferred stock.
Declare Quarterly Dividend.
The Delaware corporation will have
an authorized capitalization of ss.000,-
900 Z per cent. cumulative preferred
stock callable at 115 and s17,00O.000 in
common stock. The exchange and stock
dividends will result in the new COM
pany's having outstanding S7,265,000 of
preferred stock and s12,125,OOO of com
mon stock.
The Texas Gulf Sulphur Company de-
clared a quarterly dividend of $1.25 a
share and an extra dividend Of rs cents
share, both payable December 8 to
stockholders recorded December l. Pre-
viously the company had been paying
dividends OF 81 a share.
Stockholders will be advised later
said the official statement, "as to what
portion of said distribution Is from free
surplus and what reserve fo. dcple ton
The extra dividend is payable from re-
serve for depletion"
declared a quarterly dividend OF Is cents
share on the common stock and the
regular quarterly ia per cent. on the
preferred stock. both payable December
30 TO shareholders of record December g.
Formerly the disbursements on the com
mon stock were 62h cents a share
quarterly.
First Payment Since 1918.
Directors Of the Laclede Gas Light
Company of st. Louis declared a dvi-
dend Of $3.50 a share on the common
stock. payable December Is TO stock
holders of record December 1. The last
dividend was s1.75 share. paid on
September Is last. The regular semi
annual dividend of $3.50 on the pre-
ferred stock was also declared, payable
on the same dates.
The Hackensack Water Company has
declared a semi-annual dividend of 81
on the common stock and the regular
semi-annual dividend Of S7R cents en-
the preferred stock. both payable De-
cember to stock of record November
25. The previous semi-annual payment
on the common stock was rs cents.
The Tonopah Extension Mining Com
pany declared an extra dividend Of 5
rer cent. in addition TO the regular quar-
terly dividend Of per cent. both pay
able January ! TO holders of record De-
cember IL.
The Galena Signal oil Company de-
clared a quarterly dividend of 81 share
on its common stock payable December
80 to stockholders of record November
20. This is the first disbursement made
on the junior stock since 1918, when Z u
per cent. was paid.