Every evening, Wilmington daily commercial., 1922-12-04
PHILADELPHIA HAS
GOOD BUSINESS
All Big Industrial Concerns Are
Showing Healthy De-
velopment.

Philadelphia, Dec. 4.-Chief Phila-
delphia Industrial companies are doing
very big business. The Baldwin Loco
motive Works is operating at eth
increasing output. and with much larg-
er profit than was possible per loco
motive and other unit OF production
when the plant was on short time.
The concern will go into the new year
with at least s40.000.000 OF business
in hand. Otto Eisenlohr & Bros. Inc.
are now engaged In the usual big holi-
day business, which is requiring all
the present attenticn OF the manage
ment. The income figures for the
year will be available when the board
meets TO declare the next quarterly
dividend. An extra distribution or
Increase in the rate from ) 10 per
cent Is quite expected.
When the directors OF the Electric
Storage Battery Company meet on
"wednesday to act on the dividend,
they will learn from the president that
the business IL holding entirely up TO
the high speed at which II has been
running. with n progressively gaining
momentum. and that the prospect for
A1-o ~ AtlAA II Will continue no Aff-
large and profitable. The payroll is
| now larger than ever before. carrying
1000 names for the two Philadelphia
plants and 25O0 for the Cleveland end
Of the business. conducted by the con-
trclled Willard company. Work In
the new plant here. In which the auto
| mobile battery business will. be conceu
| trated. Is increasing as additional ma
| chinery and equipment are installed
there.
from all that Is learned the con-
| d.ton OF the affalrs and business OF
| the Electric Storage Battery Com
| pany is such as TO give strong warrant
| and support for the distribution from
| the 1922 profits such as will give the
stockholders 81 share for tho year
| II Is likely that the profits will exceed
| what has been generally estimated
they would reach for this year, eay
$3.50 per share. While the company
Is paying considerably more fer is
supplies. prices for lead. zinc. etc. hav.
ing advanced materially during IN.
year, IL is getting increased efficiency
from labor, which goes 10 balance tn,
total cost Of production. New order,
continue 10 flow in undiminished, both
for batteries and repairs and parts
The latter In relatively the mcst prof
liable business.
Relatively. the Pennsylvania Sys
tenn has obtained operating result
this year 50 far much better than thOs
for the railroads Of the United State,
considered as a whole. The incom
statement for ten months shows thu
TO be true. both in the amount, abov
s61.O0O,000, OF not operating incom
and the gain over the same period o
1921. The system actually handle
about II per cent OF the freight an
Il per cent cf the passenger tram
or the country. out OF the SlS.50O 900.
600 net outstanding capitalization Q
the railroads of the country. as rem
resented by securities in the hands G
the public. that which the Pennsvl
, vania System has out is only sf.42O
100000. Thus IL is doing a relatlvel
greater business, performing compag
auvely larger service per dollar (
capitalization, than the railroads as
N--ole. The resulting condition is or
OF advantage 10 the public and ,
beneht 10 the stockholders in the re:
value of their shares.
Stating what the PENNSYLVANIA Sv,
tenn Is now doing and would like
do TO Increase it's service. Samu
3 Rea, president of the company. saws
We arc putting forth every effort
: avoid blockades. and under the grave,
e drawbacks Of the last two years "
}. nave undertaken the construction ,
= 200 new passenger cars. 20 new d!nir
!. ears. 100 new freight locomotives.
= new passenger locomotives and 100 .
n the latest type cabin cans, and u
:. | conversion OF a very large number
freight cars from fifty-ton to sevent,
ton capacity. We have actively resuu
ed work with other railroads on n
!. staten and yard improvements
>, Chicago. We are completing our o,
tension into Detroit; enlarging o,
freight facilities and yards near la
r!sburg, South Philadelphia, Pittsbur
Sharpsburg and Pitcairn, and layir
q additional tracks from kenwood
Rochester, Pa. and at other point
We are also proceeding with yard e,
tensions at Baltimore and Hagerstow
Md. and other improvements in pra
tically every state in which We a
operating. This Improvement progra
In much below what We would like
DO II the net earnings had justin
l. H."