Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-07-15
FINANCIAL NOTEA

The Hank ~ England yesterday reduced
IT, rrdiscount rate'frum Hlato per cent
the lowest since January IVA This com
pafes With a high ~ 10 per cent IN August.
lnti Surh reduction viii have no eject
On discount rates here according "a Sc'rc-
tary 1T the Treasury Mellon
Railroads In the east aud conferred par
tlruAriy around New Work have enough
coal to korp up opera ions from thirty to
seventy DAYS The ronnSN lVanta. Read
Inc and Jersey Central have enough to
last tMrtN days Win further reserves
tnmmnn stock " the Uuitcd states
ttcrl Corporation Ia the hands ~ brokers
pa June an vas 12iHt shares. or
~ up Der crna uf the total issue against
.iuN Ia shares. ur - pa per cent. on
Niarrh 40 The iucreas'd floating supply
l. principally due to foreign liquidation
World shiphuildins today Is actually
ieilnw prc-var level according go Lloyd =
hesister of shipp,ns Total under con
strlrtinn assrryNtes 2 s0a 600 tons
sssins, : ipa' DO before the war There is
hulldins Ia the United states NJ present
lhu,npn tons and compared with the
ppsk ~ alsoooO tons IN 1919 shows a
decrease ~ ph per cent
''rh,N onumer jsays the Coal Age who
had delayed buying In order 20 obtain the
liver freight rate after July ! nov nnds
that spot prices have morn than wiped
nut the ~ per cent reduction In tho
meantime stncks have hcon reduced below
the sanity point and the procurement ~
Immediate supplies n becomin> impera
" Webster President ~ tho Atlas
Powder Company ~ statement to
nfsi n, months 81 the lscal year have
hern On profitable basis The com
mans has earned its bond interest. It's
preterrrd dividends and we'll over the
rate ~ ~ per cent. which % l. paying
on So common shares
ufirials 81 tho Baldwin Locomotive
Works ANTICIPATING big rush ~ or.
uprs fur ncv railroad equipment and
repair work are plannins the reopen
ms or inrrrasins operations ~ several
departments
Unnecessary 10y orders from railroads foi
aaN locomotives 20 handle the volume
N freight that u cNpsstcd 90 start NOV
mg With settlement 90 the coal and
rho latest order was received hs
RaldNins yesterday when Tho keading
,umpsn, signed contract for twenty
ave Mallrt type locomotives Zach en-
tinp viii cost about <ai Op or approx
naislA VI unn ohu Tor The entire contract
saVing deposits PEI capita IN the Unite,
iual with s3fl Tor each person Tn
middle Atlantic states are sscond will
ssa5 aud the west central states las,
nuriue tho nrst three months OF 1872
railroads ~ the United states carried 3
lief cent more revenue tonnage than dur
ms same period la 1927 Total tonnag
Was al0 pos sm compared with sn2 ia
ip3 Al commodities but forest product
showed increase
An lnrrraso ~ about 40 per cent 4
shipments ~ WHY overland and willy,
knlshi cats was accomplished On Jun,
Total shipments were II tu2 cars sale
Tor the nfFi I've months we're 34S nor cen
greater than IN corresponding pei Tod las
Nei earnings of san o2o ono are rct orte
~ ga, American. Tclrphonc and icl'
susr a a,nst sic 49, .oOO f.r "a Nc prrio
lasi Neat balance after dividends an
lntercst vas less by about saa5. 0D0 a
. ufs 0m. due to ~" incrcas "a amour
required FOR dividends
Revenue FREIGHT car holdings during rs
senks ended IulN a 42t2 m Shove
MI Increase Of Ani lal ears over sal
period "a lN2l Z GA loaiirs during n
period amounted 90 only 4ui 2p4 cars
decrease Ut 3nl ans
All ~ the important substantial al
'lonsT Bant which business. industr
end enterprise made during the fr
half ~ this year IL securely held as q
srennd half begins The foundation
which we're laid during the period OF pos
VAT liquidation aud rradlustincnt in Oh
country we're deep and strong tp'
them u rising steadily aud a. fast as
lasting structure can be- built up. auoth
epoch ~ expanding prosperity Tor .
American people
sash Mutofs fur the Eve mont
ended April 80 earned - ls3 600.
compared with s. 22H OOO FOR the q
tire 1921 hsral year This cumpa
has - 600 sharss ~ common stock ou
standing against which the April 80 ~
plus amounted Co >2f3 per share
~. present tltnp this STOCK Ia selling
the nels hpprbOpd Of $500 per shal
which would indicate that listing on {
stock Exchange can hardly succeed
the apparent attempt TO achieve me
loud market unless there IL some sort
crock reorganization In some quartz
there is disposition % expect such
reorganization ln the form Of n sto
dividend ~ four nov shares for one 81
which would hriny the common Sto
down 90 about 500 per share and M
uralls provide a much broader mark