The New York herald., 1922-12-21
DIVIDEND PAYERS
HEADED BY BANKS
Extras by Two N. Y. Institu-
tions-Sharing of New
Stock Continues.

Mechanics and Metals National Bank
declared an extra per cent. dividend
in addition to the regular quarterly dis
bursement of per cent. payable Janu-
AIRY to stock of record December 2S
The Title Guarantee and Trust Com
pany declared an extra dividend OF
per cent In addition to the regular
per cent. quarterly dividend, payable
January to stock of record December
%.
The stock of Sterling Salt Company
has been increased from $500 900 to
g. 300 0C0. and part of the increase Is to
be issued as 25 per cent. stock divi-
dend. payable to stock Of record De-
cember %.
Stockholders of the Equitable Trust
Company approved proposals to In
crease the capital from $12.0o0,00 600 to
$40 0C0 900 through issuance Of a stock
dividend OF $4000000 and to offer
similar .amount of stock for subscrip-
ton at par The stock dividend Is pay
able December 80 to stock of record De-
cemBer 20, and the offering will be
made to holders of record December 20.
The Erie Lighting Company declared
an initial dividend Of % cents share
on it's common stock payable December
30 to stock of record December 2s
Stock of the Chapman Valve Manu-
featuring Company has been increased
from 1000, 900 to s1.50o.000 for pay
ment of a so per cent. stock dividend.
Stockholders of Ludlow Manufacturing
Company will meet on January 10 to
authorize the issue of 10000 additional
shares of stock which will be offered to
stockholders at S106 In the ratio OF
one to six.
The Monoman Spinning Company de-
clared a quarterly dividend of $3.50
share, payable January 2 to stock OF
record December 10.
The Lawton Mills Corporation de-
clared g. quarterly dividend of per
cent. and an extra dividend Of per
cent. payable December 80 to stock OF
record December %.
The Crane Simplex Company declared
an initial dividend of / " per cent. on
the preferred stock payable January 3
to stock of record December 81.
The Edward Ford Plate Glass Com
pany of Toledo has increased Its .autho-
ized capital stock from $3,200.000 to
$4,000, 900.
Directors of American Safety Razor
Company will be held in Denyer on Janu-
action until the January meeting. when
the annual report will be before them.
The Metzler Company. Inc, has called
u Spcclal stocknoiGefS meeting TOT De-
cember 20 to increase stock for payment
of 100 per cent. stock dividend.
A special meeting of Continental OH
Compan will be held in Denver on Janu-
ary IS to authorize reduction of the
par value Of its shares from 500 to SIS.
Stockholders Of Johns Manville. Inc.
have approved a rronosal 20 increase
carital stock from 25.001 shares to 25O.-
900 shares of no par value stock. The
new stock will be distributed in the
ratio of eight new shares for one old
share, and the remainingi $1,000 shares
will be sold to employees at $50 n share
The British hAmerican Tobacco Com
pany, Ltd. for the year ended Settem-
Der 80. 1922. reports net profits of f4,,.
400.7S3. after all charges and income
tax. &C.. against f4.322.4s1 in the pre-
vious year. Payment of final divi-
dend of per cent. free of tax, pay
able January IS, has been recommended
and also an interim dividend OF 4 per
cent. ON account Of 1929.
The National Exchange Bank of
Providence. r.. L.. declared yesterday
stock dividend of $50 per cent. which
IL to the amount OF S750.000.
The stockholders of the Algonquin
Printing Company. Fall River, Mass.
voted to fatify the recommendation OF
the directors TO declare a stock divi-
dend Of 100 per cent. by increasing the
capital stock from 100000 to $1,000, 900.