The New York herald., 1922-11-21
FIVE MORE MELONS
SS is TO 400 P. G.
Various Glasses Of Business
Represented in New List
of Stock Dividends.

Eight more corporations took steps
yesterday looking to n readjustment OF
their capital structure and, in most
cases, a stock dividend.
The Packard Motor Car Company de-
clared a 100 per cent stock dividend on
$40 par). payable on December 2. The
company's surplus on December 81 last
was 1929. Ss6 In the six months end
ing February %, 1922. the company
showed a deficit Of $774546.
In recent months Packard's net profits
nave been running at a monthly rate
Of $4,000 and the report for the fiscal
year ending on August 81 is expected 10
show earnings in excess OF s1,0OOOCO
After having paid no dividends on the
common stock since October 80. 1920. the
ompany resumed payments on October
"a last with "a quarterly disbursement
~ 2Is per cent. and extra dividend
Of 2ia per cent. on that issue.
The Mortgage Guarantee Company OF
Baltimore has declared a stock dividend
ui 100 per cent, payable December u
i, share owners of record December Il
Stockholders also will receive the right to
subscribe to 200 shares OF stock (par
value 1900 at $3.50 a share In the ratio
--of one share for each two shares held.
The shareholders will be asked TO vote
an increase in the stock from $2Oo,0OU
TO $500 900 on November 81.
The Parkhil Manufacturing Company
Of Fitch5urg Mass, has declared q 400
rcr cent stock dividend on its 100000
outstanding capital stock.
A special meeting of stockholders OF
the New f,nslander Spring Bed Com
Ill f.... Iax. ,haf A r.,
authorize an increase of its preferred
stock from 100000 to s2.5O0.000 and
OF it's common stock from 100000 to
$2.500,000.
The Reed. Prentice Company OF Bos-
ton has filed certificate with the Com
missioner of Corporations showing an
increase in its common stock from $500
shares of 500 par value to $4,000
! shares Of no par value.
/ In preparation for Il declaration OF d
I 33 1-3 per cent. stock dividend, stock
| holders of the Title Guarantee and Trust
Company ratified yesterday proposal
for Increasing capital stock from
1900. 900 to S10,000,000.
| Stockholders of the Fidelity-Casualty
Company OF New York have approved
proposals under which its capitalization
will be increased from S20.000,000 to
$4,000 900 and the par value of the
shares reduced from 500 to S25.
Stockholders of the Cannon Manu-
, featuring Company have voted an In
crease in it's capitalization from $3.500,-
900 to S10.500.O 900. reduction of the par
value of the shares from 500 to SO
and the payment Of 200 per cent. stock
dividend.
The American Sales Book Company
! has declared an initial dividend Of per
! cent. on its common stock, payable jan
! uary 10 to share owners of record
| December Is. The regular quarterly
dividend OF ~ per cent. on the pre-
I ferred stock also was authorized.
| Following the lead of other pipe line
companies identified with Standard Oil
| 1t is expected that the National Transit
Company will declare large extra cash
dividend.
! Special Dispatch 20 THE New YORK HERALD.
PITTSBURGH, Nov. 20 - Directors Of
the National Transit Company. in Oil
city. Pa, would neither confirm nor
deny tonight that a special stock or
cash dividend was to be declared by
! that company.