The New York herald., 1922-11-16
MORE Big DIVIDENDS
DECLARED IN STOCK
Ten Corporations Announce
Plans to Cut Melons by
Adding to Capital.
STANDARD OIL IN GROUP
National Fuel and Gas and
Schultz Representations
Cash Rates Up.
STANDARD OIL IN GROUP

Declaration of either extra or in
creased dividends was announced yes
terday by ten large corporations. Some
announced that large stock distribu-
tions are under consideration and one
concern made known that a small
distribution was paid six months ago.
The companies which made announce
ment Of their distributions yesterday
were the National Biscuit Company,
the Manhattan Shirt Company, the
National Fuel Gas Company, the
Schultz Retail Stores Corporation. the
Great Northern Ore. the Glen Alden
Coal Company, the National Sugar
Company. the United States Gypsum
Company. the Great Northern Paper
Company and the Standard oil Com
pany Of New Jersey.
Directors Of the National Fuel Gas
Company. one OF the Standard OIL group
OF properties. recommended an increase
in it's capital stock from s32.000.0O to
s37 900, 900 for the purpose OF declaring
stock dividend Of 100 per cent. out OF
the new stock and s1s.5Oo.O 900 out Of the
old stock which has not been issued
The stock dividend will be paid TO
shareowners OF record December Is. con-
tingont upon It's approval by stockhold-
ers 1T a special meeting called for De-
cember H. A letter to stockholders says
that the board does not expect any ma
terial increase in the aggregate amount
OF cash dividends to b. paid In the near
future, as earnings do not warrant II.
National Biscuit Takes Action.
After receiving authorization OF the
stockholders OF the National Biscuit
Company 20 increase its stock from s3O,
0O0. 200 10 $50. 900. 0G0 and to reduce the
par value OF the shares from 500 20
s25. the directors Of the company de-
clared yesterday stock dividend OF rs
per cent. payable December 80 to stock
holders OF record November %. and then
declared q quarterly cash dividend Of 75
cents share on the new stock, payable
January 10 TO stockholders OF record
December 30
This places the new stock on 50
annual dividend basis and gives the
holder Of one share Of 500 par stock
which has been exchanged for seven
shares Of the $25 par value stock an
annual return OF S21 from the seven
shares In place OF the 81 yearly dividend
paid on one share Of the old stock Ma
tionnl Biscuit shares advanced II points
yesterday TO a new high price OF 259H
for tho year.
The Schultz Retail stores Corpora tlon
has declared dividend OF IS "A share on
the common stock. payable on December
20. In the per cent. cumulative pre-
ferred stock Of the company TO common
shareholders OF record December IS
The company has an authorized pre-
ferred issue Of $4,000 900. OF which only
$500, 600 Is now outstanding. Dividends
on the preferred stock will be payable
quarterly in advance. commencing Janu-
airy TO holders OF record December 20.
Mr.. Schultz said that the common stock
will receive dividends Of not less than IS
share for the year 1923.
Manhattan shirt Raises Rate.
Directors Of the Manhattan shirt Com
pany declared stock dividend OF 90 per
cent on it's common stock. consisting Of
quarterly stock dividend OF 2h per
cent. and an extra stock disbursement Of
17h per cent At the same time n regu-
lar quarterly cash dividend OF 20 cents
share was declared on the common
stock. This raises the stock from the
So annual rate previously paid to a SO
annual basis The new dividends eys
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Continued on Page Eight.
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