Every evening, Wilmington daily commercial., 1922-11-16
FlNA-. CIAE NOTES

The Pittsburg and West Virginia Rail-
way Company Is taking from the large
cash acCumulatiOns of its subsidiary coal
company, enough to enable il to pay for
the large amount of new and additional
equipment purcha Sed, SO that there will
be no outside financing in connection with
il.
Untitled orders Of the American Loco
motive Company approximate Sij ,OOO,
600. against 50 u61 $50 on June 30 OF
the business pending, the biggest single
requirement is 100 engines for the 81 q,
Paul, expected TO be placed within ten
days.
Stock dividends are still popular in
some directions, even if they have LOST
favor with those who operate in the
market. Latest TO announce d distribu-
ton of the kind Is the IngersOll- Rand
Company. which is to make a 100 per
cent disbursement on December =
Directors of the American Stores Co.
held rather protractcd meeting yester-
day. and afterward il was stated that
there was nothing done other than TO
declare quarterly dividend at the same
rate of 81 per annum.
More stock dividends were announced
yesterday. three in all. The Great
Northern Paper Co declared 200 per
cent. National Biscuit. IS per cent, and
Manhattan Shirt, 20 per ceng.
The low mark in tire output for the
year was reached during October" says
Automotive Industries. but production
is increasing slightly, and Will continue
10 advance with the object in view of
not only building up finished goods in
Ientories! but preparing for the spring
demand -
Automotive Industries saws: Although
the major automobile producing plants
have entered November with sufficient
orders TO Justify production close TO the
high schedules of the earlier months OF
the year, they are being seriously ham
cred by inability 10 get enough bodies for
the inclosed type OF car. around which
output now centres
Delivery will shortly be made OF the
$50 passenger coaches which thp Penn.
sylvania railroad ordered last March
Passenger business has been picking Iip
and recent months have shown an increa Sc
over corresponding months Of 1921
A proposal involving consolidation OF
the packing interests of Armour & Co
aud Morris x Co. through purchase OF
the latter. was presented TO government
officials for Federal approval under thf
packers act and sherman antitrust law
The Iron Age says: with blast furnace
and steel works opera tionS at the highest
rate of the year. some districts showing
further slight increases in the last week
the finished steel market has developed
no new tendency. either in demand oI
price In view of the decline in pig iron
and some late weaxening in semi
finished steel. consumers of rolled product.
have been looking for price concessions
Sellers however. in spite of the fact that
Independent mills in several lines ol-Uro
duction are booked less than two month,
ahead, are not forcing the issue.
Con tinental Motors Corporation ISSUED
call for, all outstanding preferred stock
estimated at 81 100. 700 at l07 and ac
crued interest tn be redeemed January IS
The authorized preferred is So 800, 900
The retirement was part of the plan o.
the Continental Corporation. when
special meeting Of stockholders authorized
the increase Of the common STOCK from
100000 shares Of $40 par 10 5000 ,00C
bar - no par,