Evening star., 1923-01-25
SEABOARD AIR LINE
CARLOAD|NGS GAIN
Up 38 Per Cent in First Fl
Days of January-D. C.
Firm Changes Name.

The Seaboard Air Line has made i'm
provement in number of cars moved in
the first twenty-oue days of January,
as compared with that period of 1922
an increase of 72,000 to 100000 loads,
or 3S per cent. The increase covered
all commodities, rejecting general i'm
provement in the south, both as 10
goods purchas sed and products shipped
Cars received from connections We're
1858, against 11,949 in 1922 period, or
an increase of 1856 per cent, while
1855 cars were delivered to connec-
tionS, as compared with 1888 during
like period in January, 1922, or an in
crease of S2.1 per cent.
Estimated December gross was
S4,370,000, the largest December gross
in the history of the road. This COM
pareS with actual gross OF $4,223,4bl
in November. 1922.
BY the close of February, the 7,100
rebuilt freight cars and 2.750 new
ones. scheduled to have been added
during 1922. will be in service. With
these additions the Seaboard will
have about $4,000 owned freight cars
n operation. The twenty-eight new
locomotives purchased during the
past year give the road ownership OF
about 600.
Company Changes Name.
AT stockholders meeting OF the
day it was voted to change the name
of the company to Union Finance
Company. The purpose of the action
1t was explained, is to enable the COM
pany to broaden its scope of activity
by the addition of all kinds of com
mercial accounts. At the same time
the stockholders ratified the recent
action of the board of directors, in
creaSing the capital stock from
$250.O0O to sl,000,000.
The new stock, it was said. will be
offered in units of four shares of pre-
ferred. par value. $25, and four shares
of common stock of no par value.
Since it's organization, Auguct !, 1920,
the company has paid ten quarterl!
dividends.
At the annual meeting of stock
holders, four new directors were add
ed to the board, namely, Writ Tay-
lor. Seton Darr, Z. NJ. Willis, jr.. and
James NJ. Place. The following direc-
tors were reelected: w. NJ. Ward,
Lee d. Latimer, ). NJ. Marks, c. A.
Hurst. Francis w. Hill, jr., William
Brayshaw, l. NJ. Johnson, Horace G.
Smithy and William E. Richardson.
Following the meeting of share
holders, the directors organized and
elected the following officers for the
ensuing year: President, w. NJ.
Ward; vice president, S. Nj. Marks; {;
treasurer, William Brayshaw: secre-
tary, c. A. Hurst, and assistant sec
retary, a. NJ. Rotn.
More Pennsy Stockholders.
Total stockholders of the Pennsyl-
vania railroad on January l, 1928.
amounted to 137,429, an increase of
7,S32 over December l, 1922. The re-
port for December was the second
month to show an increase after
eight consecutive months of de-
creaSes. The January l figure is 4,270
below that of the corresponding date
A year ago.
Average holdings on January l
were shown to be 1855 shares, COM
pared with 1906 shares on December
l and 70.47 shares on January l, 1929.
OF the total outstanding stock 31.27
per cent is held by women, an in
crease of 81 per cent over a year ago.
Woman stockholders numbered 66,-
225, being 4S.19 per cent of the total
stockholders.
National Mortgage Statement.
The net earnings of the National
Mortgage and Investment Company
of conditions at the close of busi-
ness December 81, 1922, totaled s142,-
9l7, according to a statement issued
by officials of the company yesterday.
The net balance at the close of the
year was S137,S20, as compared with
s16,S61 on January l, 1922. The
statement shows cash on hand and in
the banks, S172,S31: first trust notes
receivable, s351,274; second trust
notes receivable, sS93,S67; stock is
subscriptions, monthly payment plan,
Sl.159,390.
The expenses for the year are listed
at s20,311. The corporation last week,
il was announced, paid it's third divi-
dend, amounting to S47.693.64.