Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-06-30
FINANCIAL BRIEFS

Tho Broad street NATIONAL DuuA
added $42, 800 to the surplus, making
that item 500, 600.
Charles 9. Godnick will retire from
the close Of business today.
NJ. Grove has resigned as
vice president and director Of American
Stores Company, effective today.
"A Chicago Board Of Trade member
ship has been sold for $JG2j, net to
buyer, of $40 from the last previous
sale.
The average price of the twenty active
industrials declined O.1S per cent yes
terday to O2. .O8, while the twenty rails
advanced O.24 per cent to S3.73.
The Interstate Commerce Commission
announced tentative valuation of Du-
luth, South Shore and Atlantic Rail.
way Company, as Of June 80, 1915, at
$17, ,067. 101.
The merger of the .Jenkintown Trust
Company and the Jenkintown National
Rank will become effective tomorrow.
Both stockholders and the State bank
ing officials have approved the move.
I'm addition to declaring semi.an-
nual dividend Of 8 per cent. the di-
rectors of the National Bank of Ger
mantown added $4,000 to surplus,
bringing that fund up to $500, 900.
-Cudahy Packing Company has called
for redemption under operation OF the
sinking fund 81. .205, 900 per cent
notes due July Is. 1923. This will
leave $4,204 100 outstanding, $5,I05,-
900 having been redeemed.
The Willow Grove Trust Company.
the newest financial institution on the
Old York road. opened its doors for
business today with total deposits of
more than SiOO. 900. Arthur Shipton
Is president He is also vice president
Of the Excelsior Trust Company. of this
city. The treasurer Is Charles Cramcr.
The Wabash Railway Company has
applied for authority to issue S4,245.
900 8 per cent equipment trust certiti-
Gates. Certificates will be issued by
Commercial Trust Company, of Phila-
delphia, and will be dated August !.
1922. Carrier proposes to use proceeds
to acquire $500 coal cars and 1900 box
cars.
The only feature in the Central Eu-
roppan exchanges today was further
decline OF Greek. Most of the others
maintained their position. Rumanian.
81 Bulgarian. 10: Serbian. 1:27 ;
Czecho -s!oyakian, l.o1h; Juso. .sla
800: Polish. .O22 Austrian. .OO55
The North American Company and
subsidiary companies. In their report
for May, show gross earnings Of ST..
Col ,OO1. an increase Of 1873 per cen,
over May, 1921, and balance for de-
probation. dividends and surplus
amounting to $S42 $50. all increase OF
| 50. 80 per cent For the twelve months
ending May 81 gross earnings stood a
Sal 500. .733.
AT the time Of the closing of the
books for the June dividend on United
States Steel common shares the tota
number of holders of this class of stock
was 81. $40, a decrease Of 1909. as com
pared with three months previous. This
| makes the second successive decline il
holders Of the common stock from the
high point which was reached in tn,
fourth quarter of 1921. when the tota
TO whom the dividend was distributed
reached 1O7 ,430.
The reserve of $40. 500. 900 which the
American Car and Foundry Company
set aside out of earnings during thu
prosperous period 1920 to provide
for payment of dividends on the com.
mon stock in lean years was untouched
during the fiscal year ended April 30
1922, even though the regular ~ pei
cent dividend was paid on the common
Net earnings during the year totalet
Sc, $50 $40. or 14.03 per cent on th'
common after the payment of regular
dividends on the preferred. This com
pares with net of $3.50, 800, O1
q 80 per cent in the previous fisca
wear.