The New York herald., 1922-11-10
7 MORE MELONS
ADDED TO Big CROP
BabcOck & Wilcox Co. Join
Concerns That Are Planning
Stock Distributions.
A FEW EXTRAS IN CASH
Dividend Assumptions Also
Appear Among Increases
Just Made.
A FEW EXTRAS IN CASH

AT a meeting OF the board Of dlrec-
tors OF the Babcock & wilcox Company
held here yesterday II was decided 70
recommend to the stockholders next
month the declaration OF % la per
cent stock dividend. This would be ac-
complished by increasing tho capital
stock Of the company from si5.ooo.coe
to s20.000.o00. According TO L. IL
Wells, chairman OF the board. circulars
will be sent out to stockholders to-day
setting December le as the, date on
which their approval will be asked.
The company was incorporated Aprii
/. 1881. In New Jersey. and is engaged
in the manufacture of water tube steam
boilers for stationary and marine pur-
poses, stokers. superheaters, econom-
izers and accessories. The plants are
located at Bayonne, n. j., and Barber
ton. Ohio.
The comparative income account OF
Babcock & Wilcox for the year ended
December 81. 1921, showed surplus OF
s1O5,042, equivalent to $50 per cent. on
the stock, compared with S1O1,S0f, or
1472 per cent. in 1920.
The Timken-D Detroit Axle Company
has declared a stock dividend OF l50 per
cent on its s2,97S.400 outstanding COM
mon stock.
Directors Of the S. S. Kresge Com
pany decided to call its stockholders
into special meeting to authorize an In
crease in its common stock from S2c,-
0O0, 900 to S50,000.000. This company
had outstanding S16.101,200 Of its au-
thorized S20,000,000 common stock on
December 81, 1921. Although no off
cial reason Is assigned for the proposed
stock increase it is believed the direc-
tors contemplate the declaration Of a
stock dividend
Directors of the Manhattan Company
have voted TO increase its capital from
SIS, ,000, 900 to $1O,000.000 for the purpose
Of declaring a 100 per cent stock divi-
dend. The declaration Is contingent
upon stockholders approval of the in
crease In capitalization at meeting
called for December 5.
Stockholders of the Ingersoll-Rand
Company ratified proposed increase In
its common stock from $15.000.0OO to
$40 900, 900. 1t is planned to distribute
the additional stock as 100 per cent
stock dividend.
A special meeting of the Bates Manu-
featuring Company has been called Tor
November II to vote on a proposed in
crease In its capital stock from $1,000
GOO to S2,700,000. The new stock, to-
gether with stock now authorized but
upssued, will be distributed in the form
OF so per cent stock dividend. An
extra cash dividend Of $40 share was
declared. payable December j to stock
of record Novemer s.
The board OF directors OF the Public
National Bank have voted to increase
the capital of the institution from
SO, 900 900 to $3,500.000. At the same
time a stock dividend OF $500, ,00C was
declared payable out of surplus. The
action of the directors has been APP
proved by the Comptroller of the Cur
rency.
The Mexican Seaboard oil Company
has declared q dividend of so cents a
share, payable November 81 TO share
owners of record November 20. Prev-
ously dividends OF so cents monthly were
paid. but in August, 1912, the directors
declined to act on dividends quarterly
instead of monthly.
The Consolidated Cigar Corporation
has declared a regular quarterly divl-
dend of 1& per cent on its preferred
stock, payable December l TO stockhold-
ers OF record November 20. The last dis
bursement on the preferred issue was
made December !. 1921.
Tho Eastman Kodak Company mas ue-
c!ared an extra dividend Of so cents and
the regular quarterly dividends of Sl.25
on the common and $3.50 on the pre-
ferred. The extra dividend Is payable
December 30 TO stockholders OF record
November 30 and the regular dividends
are payable January to stockholders
of record November 30.
The Colorado s. Southern Railway
Company declared a dividend OF pei
cent on the common stock. the regular
seml-annual dividend of per cent on
the first preferred and the regular an
nuai per cent. dividend on the second
preferred stock. all payable December
70 to stock of record December l6 The
per cent. disbursement on the common
Is the same as was paid on December
81, 1921, that payment being the first
dividend paid on tho common since
per cent. was paid in 1921
The Appalachian Power Company has
declared an initial quarterly dividen }
Of I% per cent. on its Z per cent. pre-
ferred stock. payable January 10 to
stockholders Of record December 80
The Homestake Mining Company de-
clared a monthly dividend OF 20 cents a
share, payable November 10 stock
holders Of record November 20. Previ-
ously the company had been paying %
cents monthly.