Evening star., 1925-02-10
LANSTON DECLARES
USUAL DIVIDEND
Earnings About Same as
Last Year-North Ameri-
can Expands.
BY CHAS. p. sHAEFFER,


Directors of the Lanston Monotype
regular quarterly dividend of H per
cent on the capital stock of the com
pany, payable on February % to
of record at the close of
business February Is, 1925.
While earning statistics of the com
pany are not available, except for use
of directors, it Is understood the tyne
setters income for the present fiscal
year closely approximates that of last
year, when a return of $1O.49 per
share was reported on February 28,
1924.
The present market level would
bear out this opinion, as the stock
has advanced only points in the
last II months. The company is capi-
talized at S6,000,000
The annual report of the companw
VIII be made public in May
North American EXPANDS.
Announcement is made that the
North American Co. has acquired
more than SO per cent of the
common stock and more than 40. per
cent of the preferred stock of the
Peninsula Power Co, with prop
critics in porthern Wisconsin and the
Upper Peninsula of Michigan AS soon
as weather conditions permit, work
lines connecting the peninsular gen
Grating stations with the Wisconsin
properties of the North American
system.
Ownership of the PeninsuIar prop
critics, together with the projected
transmission lines, will give the
North American Company an inter
connected system traversing the en-
tire eastern part of Wisconsin, ex-
through the most important indus
trial centers in the State to the high
ly developed mining regions of Mich
igan.
The Peninsular Company's proper
ties at present comprise hydro
electric plants, steam power plant,
40 subsidiaries and 245 miles of trans
mission lines. The yearly output of
these plants is more than 60, 900, 900
k1lowatt hours. S. 3. Way, general
manager of the Wisconsin properties
in the North American system, has
also assumed the management of the
Penlnsular Company as president
Lanston Out on Exchange.
Today's session on the Washington
Stock Exchange was dull and unin-
teresting. Ten shares of American
Security and Trust Company sold at
$40, and five shares of Federal-Amer-
lean National Bank brought c35.
Lanston was traded in to the extent
OF 10 shares at 7Sh, and like num-
Der OF Gas shares brought 5SA Ma
tional Mortgage and Investment pre-
terred vas unchanged at e2s.
New Freight Record Made.
Revenue freight loaded on Amer
can railroads in the first five weeks
OF this year, totaling 4,45o.e93 cars,
established a new record for that
period, according to an announcement
To-Day by the American Railway As
sociation.
The total exceeded by 156,723 cars.
or 3.6 per cent, the loadings for the
corresponding period of last year.
and by ELISA cars, or per cent, the
loadings in the same period of 1923
The total of s96,055 cars loaded in
the week ending January 81. how
ever, was a decrease of 28.199 cars
from the preceding week and 1855
cars from the corresponding week
last year. Forest products and live
stock were the only commodities
showing an increase in the week,
grain and grain products and coal
being among those showing a de-
crease.
Stock Issue Ready Soon.
Baker, Watts & Co. Redmond & Co.
Hambleton & Co., and Brokaw & Co.
expect to offer this week 10000 shares
of per cent cumulative preferred
stock, 10000 shares of 7 per cent to
10 per cent cumulative second pre-
ferred stock, and 10000 shares Of
common stock (voting trust certif-
cates) of Manufactures Finance Co,
Baltimore. and 10000 shares of per
cent to 10 per cent preferred bene-
nf
turers' Finance Trust, Chicago. These
shares, par value $25 each in all cases,
are TO be offered in blocks, at
S1a5 per block, yielding at present
dividend rates about 7.57 per cent
each block comprising two shares of :
per cent preferred stock of Manu-
facturers' Finance Co., one share of
ferred stock of Manufacturers
Finance Co. two per cent to 10 per
cent preferred beneficial interest
shares of Manufacturers Finance
Trust. and one share of common stock
of Manufacturers Finance Co. (voting
trust certificate).
The Manufacturers Finance Co.
with headquarters in Baltimore.
has been in successful operation since
its inception in 1910, and is one of the
oldest so-called non notification COM
merciaI banking companies in the
United States. 1t owns all the COM
mon beneficial interest shares of Man.
ufacturers' Finance Trust, organized
in 1922 for the purpose of conducting
a similar business in Illinois and sur
rounding territory, with headquarters
in Chicago. About so per cent of the
combined business consists of the
purchase of open accounts and notes
receivable from reliable manufac-
turers, wholesalers and jobbers, and
the balance of automobile and install
ment liens and mortgage notes. The
percentage of loss since organization
has averaged less than one-fifth OF
per cent of the accounts purchased