Evening star., 1925-11-07
WALL STREET BRIEFS

NEW YORK, November tF>.-The
Delaware r.ackawanne and Western
Railroad earned more than The annual
dividend requirement OF IS share IN
the first nine months Of the year.
surplu. having been so 400 600.
equivalent 10 S6.12 share on its fS4.-
oll 500 stock Of $50 par value In
view Of the suspension Of anthra cite
MINING. The financial district does noi
expect. however. that the 81 extra
dividend authorized last Decemher
. viii he forthcoming This year. The
roa6 earned sl.o2 share in the rhird
quarter.
Stockholders ~ Marlin Rock ~ell
Corpora ton will vote November II
on proposed conversion Of preferred
stock into common an the basis Of
four shares Of common 10 each share
OF preferred. through an increase OF
common shares from 10000 To 500
900 with reservation Of lOS,9l2 shares
.or conversion. II is expected hat
,f,er conversion rhe common will he
placed on an annual dividend basis
of ~ share. The present rare is -,
Wan Stree hears fhat. purcha se NJ
the California Oregon Power Co. by
H. NJ. Bvllesby & Co. ia on the basis
Of "A 81 900 nNe-Near s per cent bonds
of the new holding company for each
100 shares Of Calitornia-Oregon com
mon with a small deduction for eN-
penses, which. il is understood. will
amounr 10 about $l26 a share.
Stockholders Of the Postum Cereal
Co. have sanctioned split-up com
mon stock on q basis Of TWO shares
Of new stock. thereby incres sing the
outsts nding common shares Ia So". 900.
October saIes Of National Depart
ment Stores were to410.o 600. against
$1,000 900 IN October last year.
CARVING the total for the 10 months
OF 1925 hevond $50 600 900.
Oficiany estimated gross earnings
OF tho South ern Railway for October
show an increase of 81 .5+1.a63 over.
October last wear and gain OF
2,OSo, ,2O1 for the 10 months OF 1875
over rhA "a me period last wear.
TIL. RESIGNATION Of E. 4. Conneelv.
vice president and general ma mayer
of the New York Airhrake Co.. was
announced todav.
Wall Street hears that Universal
Pipe and Radiator Co. is retiring its
per cent c,rplula tive preferred stock
in the open market and expects 10
have about onehaf NJ the ont ST. nd.
ing ,ssu. retirAd by the end NJ the
year.
lame. 7. Oliver OF Greenwood.
s c.. has been elected member Of
the New York Cotton Excha ange.
Stockholders Of National Dairy
Products Corpora tion today ratified
issuance of SIS a24.o 600 new preferred
stock for acquiring the Supplee Wills
Jores Co. Of Phi,a delphis.
Directors ~ the Nanati Sugar Co
YESTERDAY omitted the regular divj.
hend on the common stock due at
thi. time. which previously had been
IS share annually, Earnings for
the fiscal year ended October 81.
unlike those the two preceding years.
We're said TO have been insufficient.
The Treasury Department viii
withdraw $3,247 500 from Federal
Reserve member banks in the New
York district next Tuesday
Net income in California Petroleum
tor the first nine months this wear
, amounted to s5la2.a75. equal to 81
cents 2 share on the common stock
after preferred dividends compare
with S2,471.721. or 2.24 per cent on the
combined preferred and common
shares in the same period last year.
Previous to the retirement Of the
preferred stock on July s. both
stocks shared equally after the com
mon had received 7 per cent. in divj.
dends. Surplus is So 500 600. against
1851 500 4 vesr ago.