Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-09-29
FINANCIAL NOTES.

HNvinss deposits declined o.5 per cont
eurinG August. according 70 the reports of
~ banks In the Philadelphia Federal Re-
errve district, and on September |
.otAlcd only 40 per cent moro than : year
x spirit Of optimism perv.de. the retail
trade. and retailers confidently expect
that = marked Improvement will take
place during the remainder, OF this year
In all wholesale lines conditions have
srestly improved since last month and
Compared with last year. the demand
Tor worsteds has strcnR thencd slightly
reports the Federal Reserve Bank OF
somewhat smaller, Aitho the demand for
mons wear has shown Improvement over
met OF last year. II is less active than
school children deposited Ave and one
hall million dollars during the last school
year In their school rawlings banking
systems. according to the third annual
compilation Just completed by the savings
bank division OF the American Bankers
AssociAtion. This is an increase OF 40
per cent over the preceding year and OF
loo per cent over the year lsle-Is2O
The General Motors Corporation reports
that the tremendous and continuous de-
mand for the new 1923 Bucks remains %
insi stem; that the factory is working
night and day. During the week OF Sep
tcmbcr % new high point OF production
~As reached by the Buick Co, when the
plants turned out $05s cars
fian Tor consolidation OF the MidvAle
Republic and Inland steel Companies into
the proposed North American steel Co
variously rcportAd. The interests con-
ccrned are prepared TO go before th,
Federal Trade Commission October 90
and eNpcct 10 WIN It's approval OF what is
shares OF several Standard oil Com
panies. which now have their market on
the New York Curb. are expected TO be
listed on the New York stock Exchanre
IN the near future.
The extra one per cent dividend on
United Cigar store brings the total for
the hall year up TO per cent Tobacco
Products, through Its ownership OF United
Retail stores stock. received q total OF
,3so 900 for thi, period
Dividend and interest disbursements in
September will total $242 OOO. 900, against
xl9s.UO.OOo In August and y237 600 GOO
an >ep,emoer year ago, Dividends will
interest payments sis7 ,OO0. 900. Govern
men, disbursements OF interest will be
about Ss,OoO.oOo. compared with &s6,-
With further marked awakening OF
Interest on the part OF the farmer" says
Automouve Industries. the demand for
sntomoniies while .how1ns slight de-
cline In cities. IL taking q perceptble
swing upward In the agricultural dis
tricr. Improvement OF general bushes.
conditions IL equalizing The demand 70,
motortrucks. dealers awaiting them selve.
OF ~ as well rs beginning TO realize on tn,
potential market the farmer offers
The NOTION and Western RAilwa,
Company Will redeem At lo3 on Januar,
l5 next Its Fix per cent equipment trus
ceruncAtes issued in 1920 The orixina
amount Was %. ss5 600 but elimi ua TIM
those already retired and TO be retire<
next January and those held IN company
treasury. s. oo6 600 will have to b cker
up at iu3. No new financing will be noces
sary
Iron Age says: The placing of Larry
orders for rails at the Gao Price w6icl
on October IL replaced by S41. has dive,
Vie steel trade what IL probably the mos
active week in railroad lateral IL hA
ever known. All important lines on th
country and many smaller ones. hsy
either contracted for their 1929 trail,
wholly or in large part or made reserya
tons which Will become definite tonnage
later
Interests In New York close 10 tn
Dsaa~are. LackAwanns and Western Raj
road Company received an underStandin
yesterday that the Stockholders will r,
ceive big special distribution. posstbi
OF the 500 200. 900 Glen Alden Coal Con
pany per cent bonds. about the en-
OF the year Al the beginning of this Yea
the accommodated undivided corporal
surplus totAlcd $40 900 900 There + on,
standing 81 .277 900 stock on which th,
dividend rate Is now IL per cent. N
income for last year equaled above 23 on
cent on the stock