Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-11-17
NesUs for Invest0rs

The average price Of the twenty &C.
! cent yesterday to O4.72 and the twenty
railroads declined O.48 per cent to
$3.50.
Sales of Montgomery Ward 4 Co. In
the first ten months Of 1922 totaled
SGD, ,S41 .14O In contrast with $50 $50.
454 In the corresponding period Of the
preceding year.
---llorace II. Lee, for q number Of years
secretary and treasurer Of the Philadel.
phia Stock Exchange, leaves tomorrow
morning for California, where he will
spend the winter.
Grouped freight loadings of the
Atchison, Burlington, North Western,
Illinois Central and Rock Island for the
first seven days Of November were 207,.
716 carloads, against 173 ,525 year
ago.
The pamphlet report Of the Fajard0
Sugar Company for the year ended July
81 shows surplus Of $272, ,4SS. after
charges and dereciation. This compares
with deficit Of $500, 1902 in the previous
year.
- Tne Chicago Stock Exchange has
listed SAT-, 400 additional Standard Gas
and Electric preferred stock, making o
total Of $14, All, 400 and interim re.
reipts for 81, 200, 900 Globe Steel Tube
first sinking fund Is, dated July 1,
1922. due July I, 1887.
Tho New York Curb Exchange has
admitted to trading Phoenix Hosiery
Company 10000 authorized common
shares. par value $5, and Al. 900 au.
shares. par value 500. Both when, as
and II issued.
Likelihood Of a stock dividend dec.
Ilaration by Packard Motor Car Com.
pany is an absorbing topic in financial
circles. Notwithstanding officials and
directors refuse to comment, bankers
declare the matter Is under considera.
ton and will be acted upon shortly.
The Chicago Great Western Rail.
rond was authorized today by the In.
terstate Commerce Commission to Issue
TO the Pullman Company $OO8, ,573 In
short term notes. The amount repre-
sents the unpaid balance on purchase
of new freight equipment by the rail.
road from the company.
Lehman Brothers and Goldman
Sachs l. Co., announced today IN Of.
ferins Of 1900. 900 ! per cent cumula.
siary Company at a price Of 800 "
nection with the announcement Of thr
stock Offering, details were made public
for the first time Of plans for u re-
capitalization Of the company.
The Treasury Department has esti-
mated that SD, ,OOO, 100000 Of Ameri.
can wealth is invested in tax exempt
securities. OF this sum, $4,000, 900. 600
represents Federal Government securi.
ties. Tax experts estimate that the
Government loses between one and two
billion dollars in revenue annually be.
cause of the tax.exempt security privi.
lege.
For nine months ended September
30 the Pacific Oil Company reports
surplus Of 80, ,2O4, ,OSO after Federal tax
and reserve for depreciation and de.
pletion, equivalent to $2.83 a share
earned on outstanding $500. 900 shares
of no par capital stock. This compares
with surplus of $13,283 ,S51, or $3.7
share In corresponding period of
1921.
The General Electric Company OF
Germany has increased Its capital stock
by 300, 900, 600 marks to q total Of l..
400 .O00, 900 marks. No action was
tnken on the dividend. although the
question was raised whether the in.
creased cost of living did not make i,
advisable to increase to 40 per cent
the dividend of % per cent declare,
at end of last business year.
The shares of the Ford Motor Com.
rany Of Canada. Ltd, have been listed
on the New York Curb Market, md
for the first time the stock of q cor.
poration with the stamp Of Henry Ford
on its certificates were bought, sold and
quoted in Wall Street. Mr.. Ford is
president of the company. which is not
subsidiary Of the parent concern. and
owns about 1S per cent of the 100, 900
authorized capital shares.