Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-05-27
FINANCIAL NOTES.

Regular dividends were declared on
common and preferred shares OF the
Baldwin Locomotive Works at the meet
K net loss Of s7e6.4o2 is reported by
the Rolls Royce Co. of America. Inc,
for 1921. the balance sheet showing total
current liabilities of S2s4. SIS. which
leaves a net working capital of 81 .34a SOS
The labor cost OF the railroads of the
United states last year was 81. sol 600 600
or SS62 900 900 less than tho peak figure
reached the year before. the number of
employees having been 1901 900 in 1921,
TO compare with 2.0lS 900 in 1920. Aver
age compensation for 1921 was 81 6s6,
against $3.50 in 1920 and Sl.4s6 for
1919
Director of the Baldwin Locomotive
Works yesterday made changes in the
official personnel, making John T. Sykes.
senior vice president in change of plants
and manufacture. Charles A. Bourgeois
vice-pre1dent in change of manufacture.
charge of plant and equipment: Harry
Glaenzer. vice-president in charge Of engi-
neering. and William A. Russell. vice
president in charge of purchases.
Early development of oil production on
commercial scale in the Sinclair Con-
solidated Oil Corporation West African
fields should be reflected in the volume
of business Wells now drilling are COM
paratively near the coast. and there is
little difficulty in bringing oil TO market.
These operations are nearer to London
ana western Europe than either the
Mexican or Persian fields
"A study OF national conditions today
says the Franklin National Bank of Phila-
delphia, shows gradual but persistent
steady betterment in underlying con-
ditions. Such basic factors as iron and
steel. and in fact all of the metals are
showing improvement. and building opera
lions continue 10 set new records. The
greatest unemployment recorded is due
TO the coal strike and the strikes and
lockouts in the eastern textile mills
The latest available figures on the i'm
ports and exports of the United States
indicate that the fiscal year 1922, which
ends with next month, June. will show
imports of approximately 81 500 .0o0. 900
against 3.654 .000.000 in the fiscal year
1921, and 81 ,s94 100000 in the fiscal
year immedia tely preceding the war
Exports will apparently approximate So
$50 .Ooo,oo0 against s6,5lI 100000 in the
Immediately preceding fiscal year. and
50 .365.o0o.Oo0 in the year preceding the
war.
The American Lumberman says: "Lum-
Der business continues active and sales
are large. Orders booked by mills this
year are approximately 100000 600
feet more than a year ago. Excess OF
orders over production is about Is per
/ cent. Prices show an advancing ten
Coca-Cola established a new high above
90 today. buying being based on the
general expectation that May earnings
2
During April this company earned SOB
900. and il is expected that May earnings
should be about SS5o.000. Coca-Cola :
big season is ahead
Big packer hides continue TO advance in
Chicago. About 5000 more heavy
native steers of May take-of brought
1879 cents per pound, onc-half cent VI
from a few days back
Production OF petroleum in the United
States in April was "A .6j7 900 barrels
against 40. 634 900 in March and 40 .O4O OOC
barrels in April. 1921, according TO tbs
/ geological survey Stocks as of April were
235 500. 900 barrels. against POI .5Ss .OOC
as OF March 81
The Baltimore and Ohio Railroad Com
pany. considering the bituminous strike
will make a remarkably good report fol-
April, showing increases both In gross
and net operating revenue. The gain Sc
far in net operating income. compared
with last year, is strongly underwriting
the purpose Of the management to pa!
4 per cent on the common stock out o
/ 1922 income
The Shell Union Oil Corporation file,
a certificate in Delaware creating $40,
100000 of preferred stock. The concert
has already been authorized to issue 10,
! 100000 shares of common stock withou
! par value. which is assessed by the Stat
of Delaware at 81 O.0o0. 900 for taxatio
purposes.