New-York tribune., 1922-10-07
S. O. Of N. Y. to
Pay a 200 PC.
Stock Dividend
VIII increase the Outs,a,d.
ing capitalization of
the the Company From s75..
ooo,OoO TO S225 900. 900
10 Split Shares 4 for I
board Wants Wider Distribu.
hon of Securities; Assets
Far in Excess of CAPITAL

Inc standard Oil Company of New
York directors yesterday announced
the declaration OF zoo per cent stoc.
dividend, which will increase the out
ssanding capitalization from $4,000 900
30 S1Ee'ooo,ooo. 1t is also proposed to
Eeauce the par value of the Increased
amount of stock from S100 to ses. 40
thas present shareholders, when tbs
feadJastment has been completed will
receive twelve shares Of new stocL fnr
each share now held. The dividend is
payable to stockholders Of record on
December 1. oh
In stating the reasons for tho
meion cutting the board said that
sAese mas oeen no increase in the
e.aapls~aliaatlon ~ Of the company since
.ne 4vV per cent stock dividend in 1918,
ana that the assets are now much in
authorized capital.
The board also expressed The be1;es
that 1t would be to the company's nd :
vantage to reduce the par value Of the
STOCK IN order that it may be more
widely. distributed among the EMPLOYEES
ana the public generally. The stock
dividend declaration was followed Nv
a sensational jump in the price Of the
SHARES on the Curb Exchange, and the
snares OF other so-called members of
the Standard Oil group.
Shares at New High
Shares of the New York company ad-
vanced to the new high record ouota-
ton OF $40, and closed 5S points higher.
at 634 Other gains made wers Ok
points by Prairie Oil and Gas, Standard
oli OF Ohio, 80 points; Vacuum Oil. 20
points. and Standard Oil Of Indiana.
61s points.
The official announcement of the
Standard Oil Company of New York
said:
AT meeting Of the directors of the
held October 6, resolutions were
adopted calling special meeting of
,he stockholders to be held on Noyem-
Der ., to vote on proposition to in
crease the capitalization of the COM
pany sufficient to allow a stock divi
dend of 200 per cent and to decrease
the par value of the shares from S1OO
to S2b share, and it's secretary was
directed to send, in addition to the
regular notice required, the following
stockholders:
There has been no increase In the
HS'sASA " OuE company since
1913, when in the readjustment of it's
affairs, on account of it's low capital
lzation, as compared with it's assets,
an increase of capital was made, which
increase, however, left its assets con-
slderably in excess Of capitalization.
Assets in Excess of Capital
"since then, by appreciation in value
Of its properties and by successful and
conservative conduct Of it's business.
the assets of the company are now
much in excess Of the par value of
its present authorized capital, and
therefore the board of directors deem
it advisable to increase the capital of
the company from s75,000,o0o to $685.
100000 so that the capitalization shall
more nearly correspond with the ac-
tual value of it's assets.
"The board of directors also believe
that it would be greatly to the ad-
vantage of the company to have it's
capital stock more widely distributed
among its employees, as we'll as among
its patrons and the public generally SO
that they may be interested in and
share the success of the company and
that the reduction in the par value