The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1922-12-06
Market Flashes


New York. December 5-rhe studeba-
ker corporation, automobile manufactur-
ers. today declared a common stock divi-
e sa pei sa nn wss Yotsd stock t
taiize $15,000000 of net earnings which
nave been permanently invested In plants
growth. The stock will be given to share
holders OF the present 100000, 900 capitali-
every four. Announcement also was made
that the directors believed the usual 10
per cent dividend would be continued on
the new capitalization
Baltimore, December 5.-stockholders
ton company today approved a proposal
TO increase the capital stock from $3.50
900 to s4'soo.ooo, the proceeds to be de-
now under construction.
or the new stocks s75o,ooo will be of
the remaining 100000 to officials and
employees
Washington, December 5.-The reor-
ganization plans for the Missouri Kansas
and Texas railroad. which has been In
proved today by the Interstate commerce
commission. The new company author
ised to aeaIire all q the rstroad lines
pany will have total stock and bond issues
with par value of siss,soo 900, and
par value. Its annual flied interest
charges will amount to s54sS,000. The
commission calculated that the total
italization OF the old company was s24s,-
176. 900. while its annual fixed charges had
been s7.ls3.ooo.
New York December 5.-The Bank of
Manhattan company, of the oldest
financial institutions in the United states
cent. The stockholders authorized in
crease in the capital stock from $5,oo0.ooo
Washington, December b.--rhe e. /.
Dupont de Nsmours company company today de-
dend. This is in accord with the recent
vote OF stockholders to Increase the CAPT.
tai to 800, 900.
New York. December 5.--Directors of
500 per cent stock dividend t tsans seia
$40. 100000 from the surplus to the capital
| stock.
New York. December 6.-The Kennecott
Copper corporation today declared Its first
dividend since December, 1920 voting a
quarterly payment OF rs cents The last
dividend was 80 cents.
New York, December 5.--The New York
quotation for bar silver of domestic origin
was increased today from 9sk to a9pc
per ounce, .e9s fine. This increase is due
to the decreased cost Of transportation,
! owing to the fact that the government is
again a9csp.nn ne pttna 90, 81 SILVER Yer B1r
adelphia mint. instead of at the Denver
mint
San Francisco, December 5.--The stock
holders of the Standard Oil Company of
Salifor9is o6 To-Day anth1rirsd stock diyi;
stock from $115,ooo,ooo to $3.50. 900, 900.
Neodesha, Kan, December 5,--The d.
rectors OF the Standard Oil Company OF
| Kansas declared stock dividend of 800
| per cent payable December 30 to stock
| holders of record December is. The state
| charter board yesterday authorized the
company to increase It's capitalization from
| 81. 600. 900 to $s,0o0.0oo.
New York, December 5.-Frank Hedley,
president of the PETERBOROUGH Rapid
! Transit company, announced today that
under the Interborough- Manhattan reor-
ganization plan. which has Just been de-
| clared operative. the company will issue
| $34,330.000 10-year secured convertible I
| per cent gold notes The new issue, Presi-
| dent Hedley said. will be used to retire
| and refund 30 per cent of the outstand-,
| Ing issue of $3S,144.000 of the company's
three-year secured convertible Z per cent
| gold notes.