New-York tribune., 1922-12-07
Cities Service
Call Indicates
StOckDividend
Directors Not Committed,
Says Doher,y in Asking
Shareholders TO Approve
S30C.C00.C00 Increase
Nash Motors Cuts Melon
To Distribute 3 Shares Of
Preferred and ) of Com.
mon for Each Share Held

That o iar-e stock dividend ls under
consideration BY the Cities So-vleo
com-nny was indicated yesterday in q
call for stoekholders' meeting on De-
eenber % By Henry l.. Doheriy. presl.
dent, for the purpose Of considering an
increase in the authorized amount Of
common stock from si00,0oo,ooo to
sioo,OoO.oOO.
Mr DohcEry made it clear that the
board Of directors has in no was COM
mit,ed Itself 70 any specific action BY
calling Of the stockholders' meeting,
but is asking That the stockholders
create o situation which will enable the
board 20 act as IL deems best lie
points out, however, that the board is
considering the recommendations u has
received that book surplus be declared
cut ns n stock dividend sufficient 10
make the outstand ng stock approxi-
mately equal to the company's prop
trtv values.
m any action Is taken for tho pay
ment Of q stock dividend" said Mr..
Doherty, "othcr than the present
monthly div dend. II will be paid on
December 30 20 stockholders OF record
Decemior o. These dates are fixed IN
view OF the fact that the stockholders
meeting will be held on December %.
Other dividend actions announced
yeste day included:
Nash NJ tors Stock Dividend
A pronosal 20 increase the author
lied capital stock o. the Nash Motors
Comrany and distribute lar.e part OF
the new stock 20 common st0ckh0ldcrl
as stock div dend, consisting Of three
shares of new 7 per cent cumulative
preferred A stock and five shares of
no-par common stock on each share OF
common held. On February ! an mi
tial sem annual cash dividend o. tl2d
81 re will be paid on the common
while the preferred will be placed on
per cent annual basis by the decla.
ration OF q quarterly disbursement Of
IlA per cent.
/ Stakeholder OF tho May Department,
Stores Company adopted n resolution
for iucreas NC tho common stock rom
500 900. 900 90 S23O00.0O0 and reduc n1
The mar value o. the shares from 500
% SIS. At a subsequent meoting di.
b rectors declared "A stock dividend Of 81
pcr cent. payable December 20 10 50 ck
/ holders OF record December i3. The
nuarterly dividend Of 2i5 per cent on
f The common stock also,w7s declared
Directors of the Cumberland Pine
lin, Comrany. q f0-mer Siand7~d oil
/ subsidiary. have called q special meet
! inc Of st9ckholdors 20 vote on IN in
crease IN the capital stock from Slo9V'
00O 10 $4,000 900. With the inereas'
authorized Il is proposed 20 declare
stoc. dividend o. 100 per cent, pay
able 70 stockholders Of record Deeen
Der 90.
Singer increase Approved
meet'ng o. stockholders Of th'
Singer Manufacturing { -'- any 81 ElIz
abcth, y. J. 10 was voted 90 a'proF'
I tte directo-s' rroposal 20 increase !
capft1l stock from 500 600 600 20 SlSV'
/ OOh 200. Each shareh 'ldcr VIII rece.V.
additional sha-cs = t-e rat.o OF 80 -
81 cent Of his present holdings. Upoi
tfe arriya' from Europe n > Dog
/ Aiexander % Lond n and Ney forA
president Of the company, the directors
! will met 70 formally authorize th'
new stock.
The George ". Helme comrany yes,
terlav declared an extra divicend ol
4 pef cent on the comm stock. N
addition 10 the regular quarterly d'Vi
dends Of 3 per cent on t-c common
and IA per cent on the preferred.
directors o. TIE Vacuum Oil Com
any have transferred % capital stocs
tom surplus $4,000, 600. which will be
ds,r .buted IS n 800 per cent stoeA
dividend. rayable December 30 "a
| et,ckholders OF record December 10 IN
/ The proportiou OF twelve new shares oi
s25 mar stock for each share OF SlVu
l par now he'd. T..
elared an extra dividend OF > per een'
I In ADDITION % the regular quartet.y y
distrlb-tion Of per cent. bot1 dlFl,
/ dends are payable TO stockholders OF
/ record December 10.
Directors OF the Yale & Towne san' ,,
/ ufacturing Company declared q oNl'
Jsnd Of 81 share on tie new sse ps'
/ ssoeL revahie 'An"a-v 20 stockhold'
ers Of record December IA.
The United Light and Railways Com, C,oo.,
many Chicago declared On inltlA,
aunrteriy dividend Of ~ per cent and
An extra dividend OF 4 Of per een'
, On the common stock, IN addltloh
the rer~lar q~n-terly dividends on ooth
I classes Of preferred.
An extra dividend OF 20 per o%sh' ~
vas nnno~necd from Fall River py ,ne
King Philio Cotton NILS. whieh A.
deelared tire regular quarterly olyl'
dend OF IL per cent. In WV the COZ, ao
poration paid a c9sh dividend on -
per cent and a dividend IN LiOerly
bonds Of 80 per cent
Country Produce