Every evening, Wilmington daily commercial., 1922-12-07
FINANCIAL NOTES.

sterling exchange established new high
yesterday al >i5Nia. an increase Of n.
cents over Tuesdays high price, and com
parcS with the low rcCOrd of 50 -. made
in February. 1920. The continued inn
proNcmcnt reflects the hrttcrmCnt IN
Grrat Britain'S financial and business
condition
>tudchahcr Corporation. IL IL estimated.
will earn about s24 a share on its OUT
standing stock, after the - per cent stock
dividend j. paid During the first thr,-c
quarters the company earned SIS share
and tt j. expected profits equal 10 81
share will bc earned from the - OOO cars
To he shipped Ia last quarter.
Soon the Sm per cent stock dividend
will be paid on Atlantic Refining. mean
ing that holders will receivc nine shares
for each one now held, or ten la all
Based on yesterdays price. which was
1880. the market for the combined new
and old shares ought to ho around 1913
Automotiye Industries says: with
production OF cars and truCNS estimated
At 22O.ooO. November not only cStab-
fishes new record for that month. but
becomes the ninth consecutive month TO
pass the POO 900 mark This figure was
reached in the face Of short working
month, inclusive 81 a holiday which was
the only factor keeping the total output
from cquatng that Of October 10
The stockholders OF the Nash Motor
Company will meet December rs TO vote
on an increase in capital Of So SpO. .unu
preferred STOCK and pas. .tNh shares of com
mon. which viii hc distributed To common
holders on the basis OF three shares OF
preferred ami four sharCs Of common for
each share Of common held
During the first eleven months Of
thus year the Baldwin Locomotive Morxs
had boOkel new bal'ncss amounting to
s5S .alS.S4h. as compared with s26 n2i. o.
/ 10 for the corresponding period Of 1921
With business taken ON during the first
I Few days Of DcCcmhCr and orders In pros
pet the company will probably show a
I total Of Sos 5,uuu,UU0 business taAcn on Tor
An branches OF the automobile indus
/ try. says AutumotiNc Industries show
a healthy condition. Trucks are meeting
with better demand and plants are re-
porting increased operations. Tire makers
are now Worklng on improving their
finished Inventory situation TO foreS-all
any possible shortage. In the parts
branch, manufacture is progressing with
much less shrinkage than had been cx-
pected
In declaring a dividend Of IS cents per
share on kcnnecOtt Copper Corporation
stock. tue hrSt since the 5u-Ccnt payment
IN December, 1870. the management is.
sued a very confident statement on IN,
general copper situation
Voting rs per cent stock dividend Tues
day. the Studehakcr Corporation gav,
out that the management expects th,
earnings TO continue amply sufficient %
continue the same 10 per cent dividend OF
the Increased STOCK. which would be equiva
lent TO l2's per cent on the present com
mon STOCK.
Stockholders OF the r. J. Rcynold,
/ Tobacco Company have received certif
Gates for the shares coming To them under
/ the 33 l-3 per cent stock dividend. and
/ today the StOos will be- traded in as Of m.
| additional amount. Taking the new higf
/ price of IS made yesterday. the equivalent
/ will be about a. 3-S
Northern Pacific directors will SoOr
meet. and IL Is generally assumed thai
a dividend Of hut Sl.jO per share vii
Z be declared on the preferred This vii
bring total payments for the year no ts
50 per share. the rate established earliel
/ in the season when the s. dividend va
| reduced
Many stocks are now down TO IA,
levels ruling before the recovery begar
! the fOrepart of last weck This is par
. tirularly true Of NidYale steel an,
Ordnance which has. yet 10 be helped
Z by the proposed amslgamatiOn with IN,
I Bethlehem steel Company.
international Harvester is selling SCI
under It's irest price of 1919 II hai
declined about - points since the an
[ nouncement that the semi-annual stocl
I dividend would be discontinued IL h
stated that the company Is doing !
much better business