Every evening, Wilmington daily commercial., 1922-01-09
FINANCIAL NOTES.

the Pennsylvania Railroad has earned
fully 3 per cent on its stock this year,
which is better than expected few
months ago. says the Wall Street
journal.
The United States Steel Corporation
tomorrow will publish its statement OF
forward business as OF the close of
1921. According to predictions made
In the financial district, the report will
show n reduction Of 100000 tons or
more as compared with the showing
made at the close OF November.
The Pure oil Co. has made applica-
ton to the New York Stock Exchange
to admit to the list $4,000 900 OF it's
s per cent cumulative preferred stock
and sl.5o0.000 of its common stock.
Plenty of sugar will be available
during 1922. The huge carry-over of
the old crop and the satisfactory con-
dition of new production assure an
adequate supply. Prices will be rea-
sonable TO corresponding degree. un-
less the unforeseen happens.
j. Spencer Brock, former president
of the Philadelphia Association of
Credit Men. has been appointed gem
eral manager OF Edward Darby Sons
Company, manufacturers OF steel
shelving. lockers and sheet steel
specialties.
The f. w. Dodge Co. construction
reporters and publishers. announced
to It's employees on Christmas Eve that
its gift to them was a group life in
surance plan.
On January.3, the firm of John &
James Dobsoh. Inc, Of Philadelphia.
placed the executive management of
its entire production and sales in
charge of w. II. Margerison and A. f.
Margerison & Co. of Philadelphia,
manufacturers of "Martex" Turkish
towels.
| The year started with Liberty bonds
and Victory notes outstanding TO a
total of s1s.755. .67S 900, or s75s ,99s, roo
less than at the beginning of 1921
| The agitation of John Shelton VIII
haIns against the big capital invest
| ment being made by Federal Reserve
banks In office buildings and quarters
resulted Friday in a request from
! the governor OF the Feredal Reserve
hoard that no further contracts be le
Until Congress shall have acted In the
rlatter.
One prominent figure In the merger
o. seven important independent stee
companies said In New York Fri
day: 1T will take a little time to ge
all the valuations, etc, ready, but tn,
plans are progressing as satisfactory.
as could be expected" At least
dozen small independent steel com
| no rfa no ell 81, 1.a 81 1,
the plan.
In important banking circles ii ha
been known for some weeks that plan
, were under consideration which woul,
remove much of the uncertainty Il
tie New Haven situation, not onl.
eliminating a danger spot, but pro
vidinS for the permanent rehabili
tation OF the property. Buying ha
> been OF the most impressive charac
ter and is understood to be fer the &C
!, count of important banking interest.
Reports in the financial district la
> week emanating from Pennsylvan
Railroad interests centered about tn
possibility Of the road conductln
operations on a scale for 1922 tina
: will show fixed charges earned and a
per cent return on the stock. 1t
< expected that when the board NEE,
this month 10 consider dividend ac
: ton. quarterly disbursement OF
per cent VIII be decided upon, maxim
e per cent dividends paid for 1921. Tt
latest figures given out by the con
D pany show that the full per cent we
: not earned In 1921, but that it is e,
pected when accounts are complete
a balance available for dividends wi
b. shown Of approximately s15.000,00
equivalent 10 more than 3 per cent @
g the stock. Pennsylvania ret opera
" ing income in November was 5000
d 1855, the largest for any month in 49,
|. up TO that time.