The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
M''V
.-/J.: r ' ..•fVl'-Vllljr.w
|-|.|. )>|[|||
^
wiy>*« ' In*#**'+iJ utv J-V ; t*i ,i* ■
j,-M
8
ADttt
BUS.
SATURDAY
I.ibraRY
Volume 154
Number 4016
New
STATE
York, N. Y., Saturday, December 6, 1941
AND
CITY
Price 60 Cents
Copy
a
DEPARTMENT
BOND PROPOSALS AND NEGOTIATIONS
ALABAMA
1952, or on any subsequent in¬
terest payment date. Issued under
Montgom ery, A la.
the
provisions
of
Section
ing fund tax.
able
at
the
Prin. and int. pay¬
National
Bank, Little Rock, Trustee. These
by Silas
of the 1939 Code of Arizona. No obligations will be secured
D.
by a
Cater, City Clerk, that the
bids for the purchase of the bonds 7-mill
building tax fund duly
41/4% semi-ann. refunding bonds
at a price of less than par value voted
by the electors of the dis¬
are called for payment on Jan.
1,
thereof will be considered.
All trict which will continue until all
1942, at 105% of the principal
Bond Call—It is stated
amount thereof, at the Chemical
Bank & Trust Co. of New York,
Series
WB, $164,000 water, Series
SB, $338,000 street improvement,
Series SSB, $409,000 school and
sewer, Series GB, $479,000 gen¬
eral
bonds.
Dated
Jan.
1,
1939.
Due Jan. 1, 1969. Each bond must,
unless it has been converted into
bond
a
bids
as to both prin¬
interest,
be
accom¬
panied by all coupons for inter¬
est accruing
after Jan. 1, 1942.
Coupons for interest due on Jan.
unconditional.
approving
Treasurer.
legal
The
opinion
of
of the bonds and interest thereon
paid.
are
funded
.
and
Phoenix, Ariz.
and
are
the
official
Bond
In
addition
the
callable Jan.
district
has
call, but it
1, 1942,
issued
may
not
the
be
man,
ARIZONA
Bond
Town
Offering—S.
ARKANSAS
Clerk,
Loan
State
,
El
W,
Ellery,
that the
reports
Commissioners
will
Junction
Dorado, Ark.
Bond Sale
port
bonds
—
The $120,000 air¬
for sale on
offered
District
bonds
the
bids, on behalf of
town, at the office of
above
Dec. 3
—v.
awarded
to
154,
p.
1041
the
W.
LOT
MUNICIPALS
offered for sale
on Dec. 1—v.
154,
1137—were
awarded
to
the
Bankamerica Co. of San Fran¬
p.
that
he
will receive
sealed
QUR service includes the pains¬
taking appraisal of estates for
dealers and institutions, without;
cost
Lebeinthal# Co.
135
BROADWAY, NEW YORK TEL.REctor 2-1737
bids
bonds.
Interest rate is not to
ceed
DIVIDEND NOTICE
ex¬
5%,
payable
J-D.
Dated
Dec. 1, 1941. Denom.
$1,000. Due
Dec.
to
COMBUSTION
1963
ders
$3,000 in 1942
$4,000 in 1964.
Bid¬
and
may
ternative
make
bids
one
or
more
offers
200
The
and
int.
at the
money
office.
payable
in
in
capital
December
Directors
20,
1941,
to
on
election
Oct.
held
28,
in
1941,
the
and
,
Condition
of
Reserve
Banks
1389
the
New
York
Re-
Rates
of
Return
of
Discount
Foreign Central
....1391
Banks
-Weekly
,
Member
Banks
1390.1391
,
Weekly Return of N. Y. City Clearing House
1391
Bankers'
1387
Acceptances
(J-J)
at
dated
par, are
and mature
$3,000
at
the
First
Na¬
ton of San Francisco,
in
Bank, El Dorado. Legality
Daly City, Calif.
to be approved by Wallace TownBonds
Sold
The
Bank
of
send, Little Rock, and Chapman
America, N. T. & S. A., of San
and Cutler, Chicago.
Francisco, is said to have pur¬
chased $39,800 fire fighting equip¬
Stamps Special School District
ment bonds as 1 %s,- for a pre¬
(P. O. Stamps), Ark.
mium of $31, equal to 100.07.
Bond
Offering — Sealed bids
will
be received until
10 a.m., on
July
1,
1941,
Jan. 1, as follows:
on
1943
and
1944;
CONNECTICUT
Connecticut
Changes
in
(State of)
List
vestments—The
Due
in
1942 to
tin,
in
showing the
the
list
of
of
Legal
following
latest
In¬
bulle¬
revisions
investments
con¬
sidered eligible for
savings banks,
the State Bank
was
issued
by
Commissioner on Dec.
3:
,
Additions
Pacific Gas
& Electric First &
Refunding 3s, 1971.
Philadelphia Electric Company
First & Refunding 2%s, 1971.
Atchison, Topeka & Santa Fe
Equipments, Series B 21/4S, to
1947.
Union
Pacific Equipments, Se¬
IV2S, to 1951.
Wheeling & Lake Erie Equip¬
ments, Series H D/fes, to 1951. *
ries
G
Stamford (Town of). Conn.
Bond Sale—The
$191,000
coupon
Nov. 24, of refunding bonds of the
tional
Dec.
record
order of the Board of Supervisors
R.
payable
of
10,i1941,
Gray B. Gray of Denver, as noted
on June
21, were purchased
Anderson-Cottonwood
—
1391
Bank
serve
.
of
Weekly Return
(combined)
1388
December
con¬
...........
Statement..
En¬
BERRY, Vice President and Treasurer.
district
in
,
Note
Combustion
$4,000,
1945 and 1946;
$5,000, 1947 and
1948; $6,000 in 1949;. $7,000, 1950
of Wallace Townsend
of Little formity with
the laws
of
the and
1951, and $8,000 in 1952 and
Rock.
Enclose a certified check State, pursuant to and in com¬
1953.
The bonds bear 4*4% in¬
for $1,000, payable to the district. pliance
with
and
in
the
form terest from
July 1, 1941, to Jan.
prescribed
by
resolution
and
1, 1942, and 3% thereafter.
CALIFORNIA
the
.
Reserve
of
here
of
*
Federal
New York
stockholders
close of business
H.
H.
lawful
pursuance
of
COMPANY.
;
Avenue,
Company, Inc., has declared a divi¬
$2.00 per share on the outstanding
stock
of
the
Company,
payable
on
of
at the
County Treasurer's
Issued
Board
dend
it shall not be
necessary that all
bonds offered bear the same rate
Prin.
Madison
gineering
al¬
for
the
bonds at different rates of inter¬
est in multiples of
of 1 %. Split
rate bids will
be received and
or
ENGINEERING
INC.
1, as follows:
•
'
-
obligation.,
or
until
11
a.m.,
on
Dec. 16, for
the purchase of $70,000 San Car¬
los
Elementary School District
adopted on Nov. 18, 1941.
The
Irrig. Dist. best bid will
— were
be determined by
(P. O. Anderson), Calif.
Stephens
deducting from the total amount
Bond Composition Nearly Com¬ of
Joe
Hunt, State Treasurer, in Investments, of Little Rock, at a
interest
which
the
district
is
stated
by
Phoenix, until 2 p.m., on Dec. 23, price of 120.37, according to John plete—It
George would be required to pay up to
for the purchase of $330,000 re¬ Y. Goode, City Clerk.
Stephens,
Executive
Secretary, the maturity of the bonds, at the
that the plan of composition was
funding bonds.
Interest rate is
rate or rates specified in the bid
El Dorado Spec. Sch. Dist. No. IS
confirmed by the court, final de¬ the amount of
not to exceed 3%, payable J-J.
the premium, ii
(P. O. El Dorado), Ark.
cree
having been issued under
Dated as
of date of issuance;
any, bid therefor, and the award
Bonds Offered to Public—The date of Feb. 20, 1941.
Bonds ag¬ will be made at the lowest
Denom. $1,000.
Due Jan. 15, as
net
First National Bank of
follows:
Memphis; gregating $1,059,700 have been interest cost to the district. Bids
$16,000 in 1943 to 1952,
in
and
and $17,000 in 1953 to 1962. Bonds Ten. is offering $460,000 214% re¬ turned
payment made, may be made for
all, or any part
for public pub- leaving $61,300 of ownership un¬
due Jan. 15, 1953 to 1962, are op¬ funding bonds
thereof, but must be for not less
L. C. Smith,
tional for
15,
1941. known.
Redding, than par and accrued interest.
payment on Jan. 15, scription. Dated Dec.
Denom. $1,000. Due serially on Calif., is attorney for the district.
The purchaser will be
required
Jan. 1: $6,000 in 1943 and
1944,
to furnish his own legal
California (State of)
opinion
INDEX
$22,000 in 1945 and 1946, $23,000
as to the
legality of said bonds.
Warrants Sold—A $3,265,319.67
\
Page in 1947 and 1948,
$24,000 in 1949
Enclose a certified check for
State and City Department
$1,issue of general fund registered
and 1950, $25,000 in 1951 and
1952,
Bond Proposals and Negotiations 1361
000, payable to the Chairman of
warrants was offered on Dec.
1
$26,000 in 1953 and 1954, $27,000
General
Corporation and Invest¬
Board of Supervisors.
in 1956 and 1957, $28,000 in 1958 and awarded to R. H. Moulton &
ment
News
1372
Co. of Los Angeles, at 0.50%, plus South Gate
and
1959
and
Acq. and Imp. Dist.
Redemption
Calls
and
Sinking
$69,000 in 1960.
Fund Notices
1367
Dated Dec. 4,
Bonds maturing in 1957 to 1960 a premium of $50.
No. 4 (TV O. South Gate), Calif.
1941.
Due on or about Feb. 25,
Dividends
1367
are
optional in 1949, 1947, 1945
Bond Tenders Not Received—
1942.
Legality approved by Or- It is stated
Weekly
Statement
of
Reserve
and 1943
respectively, in inverse
by the City Clerk that
Banks
(individually)
1388
order of numbers. Prin. and int. rick, Dahlquist, Neff & Herring- no
tenders
were
received
on
sealed
receive
ODD
Sale—The $28,000
School
dis¬
Call—Joseph S. Thur- able to get all of its bonds in
City Treasurer, calls for and make a
complete
delivery
payment on Jan. 1, $20,000 4%% prior to Jan.
1, 1942, and conse¬
semi-ann. bonds, Nos. 221 to 240.
quently reserves the right to de¬
1, 1942, may be attached to the Dated
July 1, 1910.
Due July 1, liver from time to time as bonds
bonds
for
payment or,
if de¬ 1950, callable
$20,000 per year are
available, but in any event
tached, may be presented for pay¬ from and after
expiration of 20 not later than Jan.
ment in the usual course.
10, 1942,
Int.
years from date by
giving 10
ceases Jan.
The successful bidder may have
1, 1942.
days' notice of intention to re¬
the right to convert the bonds to
deem such bonds. Holders of said
Sylacauga, Ala.
those bearing a lower rate of in¬
Price
Paid—The
City
Clerk bonds and coupons shall present
terest upon such terms that the
states that the $70,000 2%% semi- same for payment at the Irving
district shall receive no less and
ann.1 sewer
improvement bonds Trust Co., New York City (suc¬
pay no more than it would re¬
sold to Marx & Co. of Birming¬ cessor to the American Exchange
ceive and pay if the bonds were
ham—v. 154, p. 1249—were pur¬ National Bank), on or before Jan.
not converted, and subject to the
chased at a price of 102.20, a basis 1,
1942.
Said
bonds, together
approval »;.?of the State Commis¬
of about 2.52%,
Due on Oct. 1 with interest due thereon, will be
sioner of Education.
The bonds
in 1942 to 1961.
paid when presented.
Interest
J
will carry the approving opinion
ceases on Jan. 1, 1942.
Miami, Ariz.
(P. O. Sacra¬
mento), Calif.
School Bond
cisco, at a price of 100.07, for
$22,000 as 2V4S, and $6,000 as 2s,
Gust, Rosenfeld, Divelbess, Rob- trict will pledge all that part of
according to the County Clerk.
inette & Coolidge of Phoenix will the State
apportionment that it
be furnished by the town.
En¬ may legally pledge for the pay¬ San Mateo County (P. O. Redwood
close a certified check for at least ment of bonds and will
City), Calif.
give a
5 % of the total par value of the deed of trust
School Bond Offering—W. H.
covering the school
bonds,
payable
to
the
State property.
The bonds being re¬ Augustus, County Clerk, states
final
registered
cipal
be
must
Sacramento County
Commercial
10-409
1961.
bonds
above district.
awarded to Halsey, Stuart &
Co.,
offered
Dec.
4
were
Bond
Call—Louise
Workman, Inc., New York, as l^s, at a price
City Treasurer, calls for payment of 101.777, a basis of about 1.30%.
at
and
par
accrued
interest
on
Jan.
2, refunding bonds Nos. 203
to 240, and 246 to 267, and ap¬
purtenant
coupons.
$61,800 is available
tion
of these
Sale consisted of:
$166,000
1941.
The sum of
for redemp¬
from
Junior
gymnasia
Due
$13,000
bonds.
V-
Cloonan
School
in
1944
Oct.
15
1943
to
1960
High
bonds
as
of
follows:
and
$9,000
incl.
13, by G. F.
Moore, Super¬ Monterey County (P. O. Salinas),
25,000 school house site bonds
New York Money Rates
1387
intendent of Schools, for the pur¬ \"
Calif.
of 1941. Due Oct. 15 as fol¬
COLORADO
Foreign Exchange Rates...
1390 chase of
$48,000 3y4% semi-ann.
lows: $2,000 from 1943 to 1947
School Bond Sale—The $4,000 Kiowa
Brokers'
Loans
1388
County Sch. Dist. No. 18
refunding bonds.
Dated Dec. 1,
incl. and $3,000 from 1948 to
Tularcitos Union School District
Weekly
Federal
Reserve
Bank
(P. O. Eads), Colo.
as
follows:
$1,000 in 1943 and
1952 inch
Changes
1388
building, improvement and equip¬
Bond
Call—L.
D.
1944, $1,500 in 1945 to 1950, $2,Anderson,
Foreign Money Rates.......
1388
ment semi-ann. bonds offered for
All of the bonds bear date of
000 in 1951 to 1956,
County Treasurer, calls for pay¬
$2,500 in 1957
Gold Bullion in European Banks.. 1387
Oct. 15 1941. Denom. $1,000. Regissale on Dec. 1—v. 154, p. 1196— ment at the First
to
National Bank,
1961, $3,000 in 1962 to 1965,
The
Course
of Bank Clearings... 1392
terable as to principal, or as to
and $500 in 1966.
The last $10,- were awarded to Redfield & Co. Denver, on Dec. 15, $18,000 4%
Discount Rates of Federal Reserve
both principal and interest. Prin¬
school bonds, dated Dec.
000 of the bonds shall be callable of Los
Banks
•;• I39!
15, 1938,
Angeles, as l%s, paying a
cipal and interest (A-O 15) pay¬
inverse
numerical
maturing Dec. 15, 1942 to 1952.
order
Bank of England Statement
on
1387 in
'
•
•
•
••••
•
,
'Course
Bank
of
of
Sterling
Germany Statement......
"Non-Ferrous
Brokers'
Exchange...... 1389
Metals
Balances
interest
paying
date
price of
solely
from funds that accumulate from
the balances left over each
1381
year
h~.v... 1387 from the first 6 mills of the build¬
Market
.......
1388
any
1.74%.
$500
incl.
100.05,
a
Dated Dec.
from
Dec.
1,
basis
of about
1, 1941.
1942
to
Due
1949
able
W*alsenburg,
Bond
Sale
reported
works
that
Details—It
the
refunding
/
at
the
First
National
Bank
of Boston. Legal opinion of
Colo.
is
now
$60,000 water
bonds sold to
Ropes,
Gray, Best, Coolidge & Rugg of
Boston will be furnished the
suc-
cesful
will
bidder.
These
bonds
THE
1362
general obligations .of
be valid
town, and for the payment of
principal and interest thereof, the
town has power to levy ad valo¬
rem
taxes without limits as to
rate or amount (except as to cer¬
tain clases of property, such as
classified timber lands taxable at
a
limited
rate)
upon
all the
limits of the town
and taxable by
If desired, the purchaser will
furnished with a certificate
it.
be
the Assessor
from
there are no
certifying that
such classes of prop¬
^within the town.
erty
bonds, all for
Other bids for the
}
territorial
the
within
property
il%s, were as follows: Estabrook
& Co. and Putnam & Co., 101.416;
Union Securities Corp. and Equit¬
able
Securities
Corp.,
100.761;
Phelps, Fenn & Co., Inc., Stone &
and Blodget, Inc., Boat¬
Webster
men's National Bank
Arthur Perry &
and
of St. Louis
Co., 100.75;
National Bank of Boston,
100.639; F. S. Moseley & Co. and
(First
jKean, Taylor &
Co., 100.58; Harris
Trust & Savings
Bank, 100.417.
Dec.
Interest
,
-
.
Bond
Issue — The .the. parent company have ex
Education
has
an¬ pressed willingness to negotiate
nounced its intention to issue $5,- with the city as "the plant ir
GEORGIA
000 funding
bonds.
A petition LaPorte must be disposed o:
under an order of the Securitie:
signed by not less than -10% ol
Unadilla, Ga.
and Exchange Commission issuec
Bond Sale Details—In connec¬ the legal voters of the district
the
holding of an in August, 1941." Several bono
tion with the sale of the $17,500 requesting
houses discussed with City. Coun%
(not
$24,000)
3%% ' refunding election on the issue may be filed
cil the question of financing the
bonds to Brooke, Tindall & Co. within the 30-day period from.
of Atlanta, .as noted
here last Nov. ,19. In the absence of such, purchase. through the issuance o..
revenue bonds.
May, it is reported that the bonds a petition, the Board . can pro-':
are
dated July 1, 1941, and ma¬ ceed with the issuance of the
Munster< School Town, Ind.
;
Bond Offering—The Board oi
ture on Jan. 1, $500 in 1946, and bonds on its own authority.
Conlon, City CompItroUer, reports that a Federal
grant of $500,000 has been ap¬
proved in connection with the
proposed water
supply system
program.
The project is expected
to cost between $750,000 and $1,M.
date
Interest shall cease on
called.
Financing-
Bond
Proposed
Thomas
on
legal opinion of Chapman. &Cut-r U I;
Greensburg, Ind.
disputed issue.
1
*
;
■ 4
granted a decree vali¬
ler of Chicago will be furnished
Bond Sale—The issue of $30,000
dating an: issub of $912,000'I re¬
Raceland, Ky.
tl\e successful bidder.,,:,"
park bonds offered Dec. 4—v. 154,
funding bonds.
The City Com¬
Bonds
Sold—Mayor
B.
,M.
mission on Oct. 27 passed a reso¬ Cook County (P. O. Chicago), III. 1042—was awarded to the City Smith states that
$37,800 water
Securities Corp. of Indianapolis, works revenue
Bond
Call — John
Toman,
lution calling for the issuance of
refunding bonds
County Treasurer, announces that as iy4s, at a price of 100.063, a were purchased on Dec. 1 by the
these bonds.
of
about
1.24%.
Dated Bankers Bond Co. of Louisville.
various numbered series' A re¬ basis
Sarasota County Spec. Tax Sch.
funding bonds Of 1936 are called Dec. 15, 1941 and due semi-ann.
Nc>. I (P. O. Sarasota), Fla.
LOUISIANA
for payment on Jan. 1, 1942, at from July 1, 1945 to July 1, 1962
Bond Call—It is stated by T. W. the American National Bank of incl.
Second high bid of 101.609
Bayou Petite Passe Gravity Drain?
for I%s was made by RaffensYarbrough,
Secretary
of
the Chicago.
•
;
age District No. 15 (TV O. Ville
Board of Public Instruction, that
perger, Hughes & Co. of Indian¬
Cook County Forest Preserve DisPlatte), La.
the following 4% semi-ann. re¬
apolis.
1 ;
Bond Offering Details—In con¬
trict (P. O. Chicago), III.
funding bonds, aggregating $495,Bond Call—William J. Gormnection with the offering schedi
v/CVy7'" LaPorte, Ind.
000 are called for payment:
Considers Purchase Of Utility uled for Dec. 9 of the $60,000 not
Series A, Nos. 1 to 49, and 51 ley, District Treasurer, calls for
payment on Jan. 1, 1942, series A —The City Council was sched¬ exceeding 6% semi-ann. publid
to 155.
refunding bonds of 1936, Nos. uled to receive sealed proposals improvement bonds—v. 154, p.
Series B, Nos. I to 227, 230 to 292,
3876 to 4505 and 4526 to 4694. on Dec. 1 from bond houses of¬
1197—it is now stated by C. D.
298 to 307, 313 to 316, 319 to
Bonds will be redeemed at the fering to do preliminary techniLatour, Secretary of the Board of
343, and 346 to 351.
American Natiohal Bank & Trust cal work leading to possible ac¬
Commissioners, that the bonds
Series C, Nos. 1 to 6.
quisition by the municipality o. mature $2,500 April 1, 1944 to
Dated July 1, 1936.
Due July Co., Chicago.
the LaPorte Gas & Electric Co.
1949; $3,000 April 1, 1950 to 1954;
1, 1966.
Said bonds should be Mercer i and Rock Island Counties
a subsidiary of the United Powei
$3,500 April 1, 1955 to 1958; $4,presented at the place of payment
Community High School District
& Light. Company.
Officials o. 000 April 1, 1959 to 1961, and
No. 127, III.
designated therein, as of Jan. 1,
1942.
?
stated
recently
Waterbury, Conn.
t
is
Validated—It
Bonds
granted, an, appeal for .review.: by;
.Dated. Dec, t l,; madp for .retirement, of .most ^of the 5 Appellate ' Court.
Ballard
$1,000. Due $5,000 the ' bbiids: prior to maturity: 'in County wished to pay half of
•event * that, funds are available
1 from 1942 to :1961 inch
what was due on $50,000 of old
J-D.
Printed bonds and for that purpose.
road and bridge bonds with the
Denom.
1941.
by J. B. Peeples, City Clerk, that
the United States Circuit Court
Saturday, December 6, 1941-
1.47%.
about
of
Plant City, Fla.
the vyy,
V
CHRONICLE
COMMERCIAL & FINANCIAL
'
'
;
' ;
";
_
Proposed
of
Board
000,000. Following receipt of con¬
struction bids, plans will be made
to market the bonds necessary to
furnish the city's share of the $1,000 in 1947 to 1963.
Prin. and
Morrisonville, III.;
.total outlay.
.
1 int. (J-J) payable at. the First
Bonds Voted—An issue of $5,-»
National Bank of Atlanta.
\ i
FLORIDA
000 4% water system bonds was
authorized by, the. voters at an
IDAHO :Vw
Florida (State of)
election on Nov. 26.
Dated Nov.(
Grangeville, Idaho
Governor Assails Grouping of
1, 1941, and due $1,000 annually,
Bond
Offering — Sealed
bids
'Public Debts — An Associated
from 1949 to 1953 inclU
'' '
^Press dispatch from Tallahassee will be received until 8 p.m., on
Riverside-Brookfield . Township '
19, by H. Rothwell, City
on
Nov. 26 reported in part as Dec.
High School District No.208, A
Clerk, for the purchase of $70,000
•follows:
~
Cook County, Hit
,
water works revenue bonds.
In¬
Governor Holland, who spon¬
terest rate is not to exceed 3%%,
Appoints
Refunding • Agent—
sored a new gasoline tax alloca¬
The Board of Education has ap¬
tion
program
through the 1941 payable J-D. Dated Dec. 1,* 1941.
Denom. $1,000.
Due Dec;. 1, as pointed A. C.. Allyn &> Co.; Inc..:
Legislature, said today he op¬
follows: $2,000 in 1943, $3,000; in Chicago, as their agent to^ bring
posed grouping gasoline-tax-sup1944 to 1946, $4,000 in 1947 to about a refunding of • outstand^
;
ported road bonds with other ob¬
1949, $5,000 in 1950 to 1954, $6,-i ing high school' district bonds.1
ligations in county and district
000 in 1955 to 1957; and $4,000 in The district, it was said, is not
lreftihdih£fs/Al^
1958.
Bonds maturing jn 1957; in any financial, difficulties but
Such action,' he
said; would end
1958, are subject to prior re¬ desires to level their debt pay-;
•amount to "putting on the shoul¬
demption at not in excess of par ments each year and for this,
ders of all the people of the State
and accrued interest on any in¬ purpose has authorized an issue
;
exceed 3 ^ %
not to
B
property within the district will
be required.
Said, bonds are au^;
thorized by Article XIV, Section.
1941.
Dated
ture, and by vote of the
of.. the
district at the.
election held on Nov.
districts,''
would make "the strength oi!
carry
the weakness-of the
of
troubles
the
and
one
local
terest
other."
in a con¬
He outlined his views
date
after
-
five
in
highest' numbers first. Bidders
shall submit bids specifying (a)
the lowest rate of interest and
about
premium, if any above par, at
Florida securities, which he will purchase such
about refunding • operations
iii bonds, or (b) the lowest rate of
several counties.
interest at which he will pur-,
Prin-j
Particularly, the Governor op-^ chase such bonds at par.
the "Cityi
posed grouping Hernando Coun-i and " int.- - payable "at
ty?s $1,400,000 of road and bridge Treasurer's office, at the State
(bonds into, a plan -• for refunding Treasurer's office, or at some
trust company in the
lesser debts of the County Board bank or
of Public Instruction and the City State, at the option of the holder
of Brooksville.
thereof, and as fixed by the. City
$50,000,000
.
Crummer,
handled
has
firm
.whose
E.
Hoy
with
ference
payment-
from the date of the bonds,
the1 inverse order of maturity,
years
of
,
,
"I'd
never
agree
to tieing them
together," Holland said, .
Crummer, who engaged with the
general discussion
refundings, said the Hernando
.Governor in a
of
County
plan
would
scale
down
of
Payable
hereafter.
Council
of
revenues
out
the water works
None of the bonds shall
than par and ac¬
crued interest to the date of de¬
system.
be sold for less
;
■
Bond
.
in the county for
Accepted
—
Irj
connection with the call for tendi
ers
of
matured
or
unmatured
and
time
certificates of indebt*
original or refunding road
'bridge or highway bonds,
warrants,
edness and/or negotiable notes
of
various counties and special road
and bridge districts of the State
on
Nov, 28, State Treasurer J.
Edwin Larson
informs us that
three parties offered bonds.
"
-
be
unlimited ad
levied
collected on all
and
therein.
property
.
.
,
refunding agents.
>
INDIANA
V-
•
,
;
•
Columbus, Ind,.
f" IOWA
Crisfield,
f
-
:
Proposed - Bond, Issue-rrAn; ordhj
nance
authorizing • an V issue
of
j
Orleans, lo wa
-
Approved—We
Bonds
under¬
election
$10,000 water system bonds,were
stand
at
that
a
recent
approved.
$350;000 revenue bonds to payvfoi
•A;extensions and improvements to
Bonds
the
v
►
-
-xt-rf.-.'A.
•
*,?• rs-.r
r trs
f
■
will
Council
7:30
until
Md.
Offering—The Mayor and
Bond
receive
p.m.,
on
sealed bids
Dec.; .17,: for
purchase of $41,000 not to
5%
interest coupon re¬
the
exceed
Vinton, Iowa
Sold—F. J. Lynch, City
;.>■
^!^Hj
* ,J
aggregat¬
ing. $195,000, drawn by lot, are
called for payment, at par and
accrued interest, on Jan. 1, 1942,
.
.
t.t'
that -2%%
paving series
certificates of 1939,
B,
municipal: water works sys-i
Clerk, states that $90,000 munici¬
tern was scheduled to receivd
pal- electric, plant ^revenue bonds
final reading by City Council on
were
awarded on Nov. 28 to the
Dec. 1.;
According to the ordi-i
State Bank of Vinton,
as
IV4S
nance,
the bonds will be dated
paying a premium of $300, equal
Dec. 1, 1941, bear interest at not
to 100.333, a basis of about 1.15%;
to exceed 3% and mature Dec.
Due $18,000 on Dec. 1 in 1942 to
as
follows:
$8,000 from 1942 td
ILLINOIS
1946 incl.
Interest payable J-D
1946 incl.V $10,000,-1947 to 1954
Beecher City, III.
KENTUCKY
incl,; $12,000, < 1955 to 1958 incl.j
Bonds
Sold—Webster
Frailey, and
$14,000 - from 1959 to 1971
Ballard County (P. O. Wickliffe)i
Village Clerk, reports that the incl.
Under the program, 30%!
>Ky,.>T.
"/;• '/V—»
$7,000 water system bonds au¬ of the estimated annual revenue
I Bond Approval Denied—W. B.
thorised at an election on Nov. 26, of
$65,000 from the plant will, be
have been sold..
v
Ardery,
Circuit Judge : of the
placed in a. special ..fund to pro-i
Franklin County. Court, is..said
Belleville, III.' >'■
' i vide for redemption of the bonds
to.have upheld the State County
Bond
Sale—The
$100*000 2% and; payment of interest1. € Any
Debt Commission's refusal to ap¬
judgment funding bonds goffered excess in that- account will go
prove the issuance of the $25,000
Dec. 1 were awarded to the HaN into a special reserve fund to; be
4%. a refunding A bonds,, reported
ris Trust & Savings Bank of Chi¬ used in retiring bonds in advance
issue of Nov.,; 4; but
of maturity.
Provision' will be sold in - ourA .4
i
/ -i
♦' <-J".
•'
.sP-A
cago, at a price of 105.15, a basis
*. 'AXift
-1.. t
fir. j
*'<_■
y-ii
Finance,-
semi-ann. refunding
A certi¬
fied check for $100,; payable tc
order of -the school town, is re¬
able
Public
of
tax¬
*
,
,
Tenders
general
4, 1941.
-
•
.
livery.
All bids must be uncon-i
ditional.
These bonds were au¬
current debt service from about
thorized at the election held on
$70,000 to $20,000 annually, with
Nov. 12, 1941, by a vote of 253
road and bridge bonds supported
to 41, for the purpose of acquir-!
yby gasoline tax revenues alio
ing the existing water works of
cated to the county.
the
Washington
Water Powef
Discussing the Hernando Board
Company at, within and without
of Public
Instruction's debt of
the city, and for purposes related
$140,000, Crummer said it "is one thereto,
as
specified in Ordn
of the most secure public debts irt
nances Nos.
230, 231 and 232 of
America" because it is supported
the city. Enclose a certified check
by a Federal court order requir¬ for 5% of the amount of the bid;
ing a tax levy of 10 mills on payable to the city.
homesteads
and
four mills • on
; other property
retirement.
electors
quired. ' Legal opinion of Chap¬
man & Cutler of Chicago will be
Dated July 1, 1939.
Denom. $1;furnished the
successful bidder
of $263;000 refunding bonds-which
000.
Due Jan. 1, 1951.
Said cer¬
without cost..
(;
will be exchanged for the bonds
tificates should be presented for
outstanding at this time on the, Wayne Township School T ownship payment,
With
all unmatured
basis of par for par.
The new 1 j \,(P. O. Bridgeport), Ind.
coupons attached, at any of the
issue will be dated Dec; 1, 1941!
Bond. Offering—Herbert H. Mc¬ places
designated on the face
and will become due Dec. 1, 1961
Interest. ceases on Jan.
Clelland,. Trustee,
will receive thereof.
and will be optional in various sealed bids until 10 a.m., on Deo
1, 1942.
amounts each year from 1942 tc.
23, for the purchase of $20,00(
MAINE
1960.
Interest on the refunding' coupon construction bonds. Dated
bonds will be the same .6s* the Dec.
23,
1941. Denom. $1,000.
Gardiner Watert District, Me. I /
present rate up to anc^ineludingj ■P^e^a-|bBbws:
Bond Sale—The $45,000; water
the optional date, and 3% there¬
1943, and<$l,000 Jan. 1 and July % bonds offered Dec. 3—v..> 154, p.f
after.
Messrs. Chapman' and Cut-j from 1944 to 1952 inch, and $1,-;
1250—were
awarded to Robert
ler, Bond Attorneys,'of Chicago,' 000,.Jan. 1, 1953. Bidder to name Hawkins & Co. of Boston, as 2s,
have been employed to supervise' therate of interest.
Prin. and at 100.10. Among Other bids were
the legal proceedings.
There wil ! int. (J-J) payable at the Fletcher
the following:: White &• Co.v of
be no expense to the bondholders Trust
Co., Indianapolis.
Legalitj Watervilley 103.53 for 2V4S;- H. G.
in connection with the exchange; to be approved by Matson,»Ross
Wainwright
& Co. of Boston,
Any information concerning, the McCord & Ice of Indianapolis. A
103.34 for 2»/4s.
»
High School District and' its -fin certified check is not required.
nances can be obtained from the
MARYLAND
:
'
r
1921,
•'
$1,000.
Due as follows
Morgan City, La.'*;'^; Bonds Approved—It is .stated
$2,000, July 1, 1943; $3,000, Jan. 3
and July 1; 1944, and $3,000, Jam by: the- City Secretary that at a
1, 1945. Bidder to name a single recent election $246,000 not ex¬
rate: of interest for all
of the ceeding 5%
gas
system bonds
bonds, expressed in a multiple oi were approved by the voters.
<
J/4
of 1%.
Interest J-J.
The
New Orleans, La.'
bonds are direct obligations oi
Certificates Called-^It is stated
the school town, payable out oi!
by Jesse S, Cave, Commissioner'
valorem' taxes to
Denom.
'
Constitution
amended, and Act 46 of 1921,
amended, Louisiana jLegisla^
as
$11,interes.
.
'
Louisiana
14,
as
addition bondt
Dec.
1,
1941
school
series
of
cessful bidder.
Prin. and int.
payable from an annual levy and
collection of an unlimited ad va¬
lorem tax on all taxable property
in the district.
It is .estimated
that an annual ad valorem tax
of 2 mills on the dollar of the
assessed valuation of all taxable
16, for the purchase of
Dec.
000
will
receive
7:30 p.m., oi
Trustees
bids until
School
sealed
$4,000 Jan. 1, 1962. Place of pay¬
ment to be designated by the suc¬
.
bonds of 1942. Dated
1942;
Denom.
$1,000.
Jan.
1,
1962, subject to
funding
Jan.
1,
Due
redemption /at
prior
tion
in
the
of
whole
terest
or
the
op-,
Mayor and Council,
in part on any in¬
payment date on
or
after
1, 1952.
If less than the
whole amount of ; the bonds shall
be redeemed
at any one time,
the bonds to be redeemed shall
Jan.
.drawn;>by lot. and upon the
redemption of all or any of said
be
bonds, interest shall cease to ac¬
from and after the redemp¬
Notice of any call and
crue.
tion date..
details- -incident ;
made in
thereto
will
be
compliance with the proan- ordinance adopted
visions- 'Of
3,vl941/r Rate of interest to
"expressedi/iri^a multiple > of
JAy -or 1/10th of 1%.<! Prin. and
Dec.
be
.
ul i :H: .vJ ftu'4
'Ai: i
V
Volume454
int.
.
of
(J-J)
Number 4016
payable.{at
the .{Bank
Crisfield, V Registerable
principal
only.
The
vTHE COMMERCIAL & FINANCIAL CHRONICLE
to
as
bonds
George's
;•
merit
:
each bond; form of bonds
on
Counties^by},; ehdprsg? 460^)00 J %s,; due $20,000
y ^from-1949
to
1956
on
Oct. 1
incl.
net interest cost of
a
2.0747%, as
$36,000
maturing
$12,000 in 1942 to 1944, as 3s,
$158,000 maturing $13,000 in 1945
to 1947, $14,000 in : 1948 to 1950.
$15,000 in 1951 to 1953, $16,000
in
1954 and
1955, as 2%s, and
$206,000 maturing $16,000 in 1956,
$17,000 in 1957 and 1958, $18,000
in 1959 and 1960, $19,000 in 1961
and
1962, $20,000 in 1963 and
1964, and $21,000 in 1965 and
1966, as 2s.
j' .
follows:
substantially the same as bonds 245,000 maturing serially on Oct. 1
authorized; by - Clwptw 229 of the of the .last preceding series. Ap¬ ^ j from-4957 to 1965 incl., to
Acts of the General Assembly of plication has been made to - the
bear 1%,% interest to optional
Commission ;£ of y•;; :dateS and 3% thereafter.
Maryland passed at its January Public ' Service
-1
•
are
-
•
Session * in v 1941,
and. also ;by Maryland for its approval of the viAll-.of -the bonds are dated De-<
The Com¬ «ember^;1941 and those
proper proceedings of the Mayor series. "WW" bonds.
nurnberedi
and Council of the city, particu¬ mission's approval of the series from 301 to 545 incl. are
subject
larly an ordinance adopted by the "XX" bonds is not required. The to'/call,. in- inverse numerical or-i
; municipality on Dec. 3,1941 i The bonds will be delivered >. on or der, , prior to maturity.
Second
bonds will be issued upon the full about Jan. 46, 1942, at place of high bidder was an account com¬
faith and credit of the Mayor and purchaser's, choice.,. The approv¬ posed of Watling, Lerchen &
Co.,
Council, and under existing laws, ing -opinion
of
Masslich.^ Harriman Ripley & Co., Inc.,
will be exempt from all State, Mitchell of New York will be Ryan, " Sutherland
& - Co.
ana
county and municipal taxation in furnished the successful bidder; Paine, Webber & Co.* which bid
•
1363
^For
the State.
Proceeds of the issue The
bonds will be awarded; at
highest prices, not less than
amount of bonds maturing Jan. 1 par and accrued interest. Enclose
and May 1, 1942.
Legality of the a certified check for 1% of the
issue will be approved by F. Kirk amount of bonds bid for payable
"
"
Maddrix, Esq., of Crisfield, and to the Commission.
/
by Niles, Barton, Morrow & Yost
'of Baltimore, and their approv¬
MASSACHUSETTS >
ing opinions will be- delivered
Braintree, Mass.
T
rupon request to the purchaser
Note
Sa!e-r-The
Second
Na¬
without charge.
Bonds; will be
tional Bank of Boston recently
+delivered to the successful bidder
was awarded an issue of $100,000
without charge in Crisfield or
notes at 0.186% > discount.
Due
'Baltimore,
Delivery
elsewhere
Nov* 23, 1942.
Other . bids: Na¬
will be made at expense of the
tional Shawmut Bank of Boston,
purchasers, A certified check for
0.31%; Merchants National Bank
?
•
will, be
used. to
redeem
on'a net
;•
Coun4
cil,
must
posal.
accompany
each
pro-
/>•••
Frederick Housing Authority
Frederick)i Md.
(P.
Note
Offering
—
•
bids
Sealed
will be received at the office of
John L. Shaw, Executive-Djrec-f
tor, 4 East Church St., Frederick,
;until 1 p.m. (EST), on Dec. 9, for
the purchase of $450,000 fourth
: series notes, dated Dec. 23, 1941;
.and due March 31, 1942.
Bidder
,
•
•
,
to
of
Salem), Mass<
Note Sale—The issue of
$50,000
tuberculosis hospital maintenance
rioter offered Dec, 2 wds awarded
the
tb
Merchants National
Bank
will
from excessive tax
Note
Sale—The
.
vv;.
-
Second
Na¬
The Bonds called consist of $312,000 series A, $35,876.16 series B
and
$144,015.60 series
C.
Re¬
tional
Bank
of
Boston
was
Washington Suburban Sanitary
demption is. being made pursuant
*"v'''*
awarded on Dec. 1 an issue of to the terms of said
District, Md.
bonds, and
% Bond * Offer! n g—Chairman $600,000 revenue notes at 0.264% said bonds, together with the cur¬
Perry
Boswell
announces
that discount. Due Nov. 6,1942. Other rent and all subsequent coupons
the . Commission
will - receive bids: National Shawmut Bank of attached, should be presented to
sealed bids at its office, 4017 Boston, 0.27%; Day Trust Co., Dietroit Trust Company,
.
'
.
.
Detroit,
Hamilton
until
3
St.,Hyattsville, • Md., Boston, 0.275%.
on Dec. 16, for the
p.m.,
of ,42,000,000
jbonds, as follows: • ...
* purchase
j
...
coupon
(V
*/t
Note
000
notes
-and
r
sewer
eonstruction bonds;
Due- Jan. -1, as- follows: $15,t
Boston,
to
at
issue
offered
R.
L.
0.25%
or*before Jan. 1, 1942;
Mass.
Saie-~The
$1,000,000 series WW. water main awarded
.
on
Palmer,
.
of
Dec. {
Day
^
$100,2
&
was
about
Due
Bond
be
Offering
received
^
MINNESOTA
k
County Consolidated School
& District No, 2
(P. O. R. F* D.
*■'''
Anoka), 'Minn. -
Co. :of
discount,: Due
bonds thai
election
■
—
'
.
Sealed
(
until
8
bids
p.m.,
"
in about
one
were
on
authorized at the
Oct. 16.
'
NEBRASKA
!
Dec.
22,
District
by Patricia Gertison,
Clerk, for the. purchase
Bonds
light
Sold—The $58,000 elec¬
revenue bonds author¬
Burchard,Neb•
Bonds
of
is
Sold—The
Educational
said
State 'Board
Lands
and
Funds
have purchased
to
$7,600
refunding
bonds
at
par.
1, 1941. Due on Oct.
1, 1961, optional on Oct. 1, 1946.
Prin. and int. (A-O) payable at
the County Treasurer's office.
Nebraska City, Neb.
Bond
Call—Ethel
Gaskill, City
for
payment
on
outstanding
3%%
bridge revenue bonds due July 1,
Clerk,
calls
Jan.
1,
1960.
at
all
Said bonds
the
are
redeemable
Manufacturers
New York
holders
Trust Co.,
City, by paying to the
thereof
amount of said
accrued
the
principal
bonds, the interest
thereon
to • redemption
premium of 2V2% of
principal
amount.
Bonds
date
and
should
a
be
surrendered
for
pay¬
ment accompanied
date
called.
Bond
Refunding — The City
In¬ Council stated on Nov. 27 it had
terest rate is' hot to exceed 4 %, engaged H. B. La Rocca &
Co.,
payable J-J.
Dated Jan. 1, 1942. Inc. of Chicago, to refund $864,000
Amortization bonds will be the bridge revenue bonds at an aver¬
of
$4,071.78 refunding bonds.
•
firSt choice and serial bonds will
the
be
School
second
Board.
are"
choice
If
of
the
amortization
issued and sold the
age interest cost of about 3%. The
Bridge Board and the City Com¬
mission
authorized
a
call for
the
outstanding 3V2% bonds and the
tire Issue may be put into one issuance
of
$430,000 2%s and
single bond or divided into >sev-t $414,000 3y4s.
eral bonds, as the Board of Trus¬
North Platte, Neb•
tees may determine at the •, time
en¬
..
v
of
sale, both principal and inter
year, r
.
•
.
-
•
Bond
,
Sale—The $25,000 semiairport bonds- offered for
ann,
sale
Dec. 2—v. 154, p. 1278-tawarded to Greenway & Co.
on
were
of
Omaha, as l3/is, paying a pre¬
of $67.50, equal to 100.27,
according to the City Clerk. Due
in
10 years, optional after five
mium
years. /
"V"
.
NEW
HAMPSHIRE
r
Dover, N. H.
^
Notes
Authorized
—
,
The
City
an
issue
,
•
-
•
•
per¬
terest rate would result as only
manent improvement projects;
multiples of l/8th or
one set of mortgage bonds would
1/10th of 1%.
Bidder may
New York Mills, Minn.
be necessary instead < of two, it
name one rate for part of the
was said.
Bonds Sold—The Village Clerk
Saving in bond interest
bonds and another for the
est
•
*
'
in
,
would
years
from the date of issue.
Council
of
has
authorized
$62,000 notes to finance
pur¬
chase of the Cocheco Mills.
will
mature
from 1942 to
as
follows:
1946
They
$10,000
incl., and $12,-
000 in 1947,
NEW JERSEY
Is¬
Cape May, N. /.
for the purpose of refund¬
Maturity On Refunding Issue
ing outstanding bonds subject to
Te Be Revised—The State Fund¬
call Jan. 1, 1942.
The bonds will
be sold for not less than par and ing Commission decided Nov. 24
that as a condition to its approval
accrued interest to date of de¬
sued
more than
cover cost
of states that $13,750 funding bonds
special election necessary to were offered for sale on Nov. 28
on
of the city's proposed $997,000
the issue, according to and were purchased by Juran &
Issued
under
authority
of
livery, and all bidders must state
Moody of St, Paul.
the lowest rate at which they will refunding bond issue—v. 154, p.
Chapter 280 of the 1941 Acts report.
■!,
of the General Assembly of Bloomfield, Troy, Royal Oak and
purchase the bonds at par.
En¬ 997, the maturity schedule be
revised so that the ' bonds will
MISSISSIPPI
close a certified check. for $400,
Maryland.
Southfield
Townships Fractional
mature
in
substantially
equal
School District Ne* 1 (P. O. Birm¬ Jackson. County (P.
payable to the District Clerk.
O. Pasca*
All of the bonds will be dated
amounts from 1942 to 1966 incl.,
ingham), Mich. goula), Miss.
Jan. 1, 1942.
Garfield County High School"
Denom. $1,000.
A
instead of to 1968 as originally
Bond Sale—The $545,000 Coupon
Bond .Sale—The $400,000 semiseparate bid for each issue is re¬
District (Pi O. Jordan), Mont.
planned.
quired, but any proposal for both refunding bonds offered Dec. 2— ann.v county court house site pur-f
Bond Offering—-The Board of
issues may provide that such pro- v. 154, p. 1251—were awarded to chase;
building and equipment Trustees will offer for sale on
Carteret, N.J.
posal is/for all bonds of both a syndicate composed of Braun. brinds offered for sale on Dec. 1 Dec. 15, at 8 p.m., to the highest
Bond Sale—The $34,000 cou¬
issues
and
not for
one
issue Bosworth & Co., Toledo, Halseyi —v., 154, p. 1044—were awarded and best
bidder, an issue of $36,- pon or registered general im¬
\. without the other# Prin. and int. Stuart & Co.,. Inc.; -and Merrill to a syndicate composed of New¬ 428.95 refunding bonds.
Sealed provement bonds offered Dec. 3—
(J-J) payable in Baltimore or Lynch, Pierce, Fenner & Beane, man,
Brown
&
Co.
of * New bids should be addressed to the v. 154, p. 1098—were awarded to
1
balance,
two
but
rates
not
will
more
than
be permitted.
the
vote
.
/
.
<
I
York. \ Registerable as to both of New York City, at a net Orleans;, the Deposit Guaranty District Secretary.
M. M. Freeman & Co. of Phila¬
principal only. • General obliga¬ interest cost basis of 4.822%. rThe Rank; Lewis & Co., both of Jack¬
Amortization bonds will be the delphia, as 1.80s, at a price of 100.tions;
unlimited
tax.
Exempt group purchased the issue as fol¬ son;'the Commerce Union Bank first choice and serial bonds will 101, a basis of about 1.79%. Dated
"
of Nashville; the Whitney Na¬ be the second choice of the said Nov.
from taxation by the State and lows:
...
1, 1941 and due $2,000 on
by counties and municipalities in $60,000 3s, due $20,000 on Oct. 1 tional {Bank, Jac. P. Ducournau, School Board.' "If amortization Nov. 1 from 1942 to 1958 incl. The
from 1942 to 1944 incl.
v
j
the State; unconditionally guarboth ; of New Orleans, and the bonds are sold and
issued, the only other bidder was H. B. Boanteed as to both principal and in80,000 2s, due $20,000 on Oct. 1 Merchants &. Marine Bank of entire issue may be put into one land & Co. of New
York, offering
from 1945 to 1948 incl.
terest by Montgomery and Prince
:
Pascagoula, at a price of 100.0252, single bond or divided into sev- 100.556 for 2s.
New
.
f.
-
!-
!
-
r
Commercial and Financial Chronicle (Reg. tJ. S. Patent Office) William B. Dana Company, Publishers, 25 Spruce
Street, New York, BEekman 3-3341.
Herbert D. Seibert, Editor and Publisher,
W. Jones, Managing Editor, William Dana Seibert. President. William D. Riggs, Business Manager." Published three times a week
[every Thursday (general news and advertising
Issue) with statistical issues on. Tuesday and Saturday].- Other offices: Chicago—In charge of Fred H. Gray,'Western Representative, Field Building (Telephone State 0613).
London—Edwards
& Smith, 1 Drapers' Gardens, London, E.C.
Copyright 1941 by William B. Dana Company.- Reentered as second-class matter September 12, 1941, at the post office at New York, N. Y., undei
the Act of March 3, 1879." Subscriptions in United States and Possessions, $26.00 per-year, $15.00 for 6
months; in-Dominion of Canada, $27.50 per year, $15.75 for 6 months.
South and Cen¬
tral America, Spain, Mexico and Cuba, $29'.50 per year, $16.75 for 6 months;. Great Britain, Continental
Europe (except Spain), Asia, Australia and Africa. $31.00 per year, $17.50 for 6 month*
NOTE: OH account of the fluctuations in the rates of exchange, remittances for foreign subscriptions and advertisements must be made in New York funds.
Frederick
.V; I;,
Arnold, Neb.
s
tric
1
by all interest
Bond - Offering •— Sealed bids coupons maturing on and after
will be received until 7 p.m., on Jan. 1, 1942.
Interest ceases on
•
:
lwr
said
County School District
No. J (P. O. Glendive), Mont.
<
"
date of issue.
on
Tyler & Col : Bond- Sale-r-The $17,000 semi- est to be payable in semi-annual
instalments during a period of 10
I.u;4/*0Q0* from-1943,tQ .1947^incl.; of Boston^ next best.
bidder; anh^building bonds offered for
years from the date of issue.,, In¬
$20J)00j ^494ft: >;ta^l952 incl.; named a rate of10.29%*'
sale {on Dec.. 1—v. 154, pi 1138—
terest payable1 Jan. and July 1 in
r.M $25,000 from 1953 to 1967
were ^'awarded to the* C. B. Asheach year/
incl., and $30,000 from 196$
'
MICHIGAN
mun' Co. of Minneapolis, -as l%s,
to 1982 incl.
Bidder to name
i If: serial? bonds are
issued and
payjng a. premium'of. $30,. oqual sold
Bessemer, Mich^ --.. ^::"';
v
the same - shall. be in thd
i
Proposed Financing—The City to-100.17/' a basis of: iabout 1.73%'. amount of $400 each, except bond
■-multiple- of l/8th or l/10th
Dated Dec,{ 1, 1941.
Due $1,000 No.
^
of 1%.
Issued under author+ Council. recently .considered the.
1, which shall be in the
on Dec; 1 in 1944 to 1960 incl,; 'amount 'of
ity of Chapter 122 of the 1918 question of purchasing a third:
$471.78, the sum of
i- Acts of the General Assembly generating unit for the municipal
$471.78 of said serial bonds will
^^i^'Mipnesota, State "ot&Mfrof Maryland, as amended,
power plant.
Municipal bond at¬
become due on Jan. 1, 1943, and
Bond Offering^Geo. M. Link;
torneys
in
Detroit
advised
vSecretary -jof the Board of Esti-~ the sum,, of $400 of said serial
1,000,000 series XX "reservoir
filter plant-construction Michael E. Nolan, City Attorney, inate .{and" Taxation; states that bonds will become due and pay¬
that, .-the
most
practical
and the'city. swill offer j for ■ ■ sale on able on the same day each year
^;'^bdndsfc^^folway
to
finance the Dec. 18, various bonds, aggregat¬ thereafter until all such bonds
.* lows: •
$15,000 from ? 1943 to cheapest
are paid.194? incl.;
$20,000, 1948 to project was,, to issue "sufficient ing $3,940,000.
Of this amount
bonds to provide for redemption
r
* 1952
The bonds, whether amortiza¬
incl.; $25,000, 1953 to
$2,500,000 is being sold to provide
of the original $103,000 bonds and
V
1967 incl.,* and $30,000 from
fynds..; for,
refunding
purposes; tion or serial bonds, will .be re¬
to: furnish :,the. .additional
1968 to 1982 incl.
Bidder to
capita| 1^800,000..for public relief pur-f deemable in full on any interest
needed.
A lowering of the in¬
name rate or rates of interposes", and the remainder for
payment date from and after five
:
to
be payable
in
1943, and a like amount on
period of 12 years from the
Dated Oct.
Dawson
bonds
Anoka
interest
•
3%
M. Moore, Town
Redford. Township -Union School Clerk, for the purchase of $20,000
coupon sanitary sewer and plant
District No. I (P,0. Detroit),
bonds.
Denom. $500.
Dated Feb.
Mich.
Due $500 Aug. 1, 1942.
Bonds Not Sold—The issue of 1, 1942.
and Feb. and Aug. 1, 1943, to Feb.
$490,000 refunding bonds offered
Optional in 10 years.
Nov; .24^~vv 154, p. 1138—was not 1, 1962.
Prin. and int. payable (F-A) in
sold, as the bids were rejected.
Cascade.. A certified check for
Bond
Call—Milton
V.
Doty,
$5Q0, is required.
These are .the
Secretary of the Board of Educa¬
Salem, at 0.14% discount. Dated tion;-^^announces the call for re¬
Dec. 1, 1941 and payable April 1, demption at par and accrued in¬
1942. The First & Ocean National terest,1-on Jan. 1, 1942, of the out¬
Bank ,l of * Newburyport,
refunding
Second standing q. $491,891.76
high bidder, named' a rate of bonds of series A, B and C, dated
Jan. 1,1937, and due Jan. 1, 1965.
0.149%. V-; •
" H.V
Newton, Mass.
of
Dec. 22, by M.
delinquency.
of
the rate of interest.
name
Boston, 0.34%.
Essex County (P. O.
cost
MONTANA
sufficient sinking fund to
retire outstanding issues resulted
•
payable
interest
net
a
Cascade, Mont,
a
the
S. Love Co. of Jackson,
$36,000. According to the
refunding resolution adopted by
City Council, the failure to main¬
tain,
and
Dec. 2
on
.
.
5% of the bonds bid for,
to the J.
at
of
uary,
154, p.* 1044—were awarded
—-v.
issue of
-
to order of the'Mayor'and
Refunding — C i t y
refund $108,000 of out¬
standing bonds at lower interest 2.16%.' Dated Dec.
1, 1941.
Cost/
The State Debt Commis¬ on Dec. 1 in 1942 to 1966.
sion has
already approved an
-
1
Cheboygan, Mich'
plans to
'
'
/ t
Proposed
;
'
semi-ann.
pon
Board
Sale—The
bonds offered for sale
v'v *
•
,
interest post of 1.8831%,
like the
a
said
on
Nov. 3 by the Village
Council—vf 154, p. 1309—are said
$130,000 cou¬ to
have
been
purchased
by
school
building Steinauer & Co. of Lincoln.
•
Bond
the
Trustees may determine upon at
the time of sale, both principal
ized
Moss Point, Misc.
■
r.-M_ Hnnds. .as
f
THE
<1364
COMMERCIAL & FINANCIAL
of Chicago,
Co.
I
and Asso-
by an 1 ciates
Bank of The Manhattan Co.,
interest Ladenburg, Thalmann & Co.,
A,'-; ■».<*■ ^
ford), N. J.
C. J. Devine & Co., E. H.
Bond Sale—The $86,000 coupon coupons will be attached' at the
Rollins & Sbns, Inc., B. J.
Chemical
National
Bank and
Van Ingen & Co., Inc., and
or registered improvement fund¬
Adams,
McEntce
&
Co.,
Trust
Company, 165 Broadway,
Inc.
ing
bonds offered
Dec. 2—v.
Fund
(P. O. Cran- ing
Township
Cranford
unnamed
Commissioner
..v.................,
1 Vz%
The
buyer.
100.829
100.538,
basis of about 1.83%.
1941, and due Nov.
a
New
York City.
.
Albany County (P. O.
N.
Dated Nov. 1,
1,
to 1947
to
$5,000 from 1942
incl., and $7,000 from 1948
follows:
as
Other bids:
1955 incl.
Bidder
r
Int. Rate
a
1.90%
Allen & Co
B. Boland & Co
L.
H.
H.
2
Campbell, Phelps & Co., Inc.
and
Dolphin & Co
J. S.
Rippel & Co
Campbell & Co. and Cran¬
Trust
ford
&
100.30
100.30
100.279
100.134
Co
County
Trust
Co.,
Elizabeth
B. J. Van Ingen & Co., Inc.
Francis I.
du Pont & Co.
and Chisholm & Chapman
2
2',a
100.138
Township, N* J.
Refunding Discussed
Gloucester
Proposed
D. Rothermel, Town¬
ship Solicitor, discussed infor¬
mally with the Funding Commis¬
—George
sion
Nov. 24, a
on
proposal look¬
toward the refunding of a
portion of the indebtedness of the
township and the school district.
ing
stated
He
that
a
been submitted to
proposal had
him calling for
refunding of something over
the
$400,000 of outstanding township
bonds and
$152,000 of district
bonds.
The refunding proposal
and the issuance of new
3%% coupon. He
pointed out that the over-all sav¬
ing would be some $60,000 and
bonds with a
would be shortened
There was some
as. to the issuing ex¬
the maturities
pense,
the
extent.
and it was suggested that
financial informa¬
prepared and submitted
necessary
tion
be
make
Tax
Installment
Pro¬
A program to
the payment of
income taxes in four equal
Drafted
possible
—
bonds
building
1 to
authorized by Council.
and
rates,
each
bonds will be awarded to the bid¬
der
offering
the
purchase
to
Mar cy, to the town, such cost to be de¬
Floyd, Steuben, Western and
termined by deducting the total
School District No. amount of the premium bid from
Trenton, Remsen, Deer field,
Russia Central
Patent), N. Y.
(P. O. Holland
1
Sale—The $21,000 coupon
Bond
registered building bonds
or
of¬
the aggregate amount of interest
upon
all of the bonds until their
Moffat said that he would
sponsor
the
next session
Other bids:
Int. Rate
Marine Trust Co. of Buffalo
l'/4%
R.
D.
White & Co
1.30
Union Securities Corp.......
1.30
C.
F.
Childs
&
Co.
and
Sherwood
&
Co.
........
1.40
E. H. Rollins & Sons, Inc...
1.40
Bidder—
George
B.
Gibbons
&
Rate Bid
100.07
100.055
100.048
bank
Co.,
100.179
1.70
Inc
Troy, N. Y.
Refunding
100.08
a
■
Approved—Harry D.
trust
com¬
The approving opinion
for
$400.
of
100.08
or
pany, payable unconditionally to
the order of the State Treasurer,
Masslich
York
City,
purchaser.
In
Mitchell,
and
New
wiil be furnished the
.M- *
,
the event that prior to
the
delivery of the bonds the income
received by private holders from
bonds of the same type and char¬
Yates, Deputy State Comptroller,
signed on Dec. 1 an order per¬ acter shall be taxable by the
mitting the city to issue $310,000 terms of any Federal income tax
refunding bonds, to mature se¬ law, the successful bidder may,
rially from 1943 to 1962 incl,
at his election, be relieved of his
NORTH
CAROLINA
Ayden, N. C.
Bond
will
be
'
Sealed
until 11
Offering
—
received
"
obligations under the contract to
purchase the bonds and in such
case
the
deposit accompanying
bids
his bid will be
returned.
a;m.
Greens¬
April 15 of each (EST), on Dec. 9, by W. E. Eastboro), N. C.y
payment of the other erling, Secretary of the Local
Bond Sale—The $135,000 semihalf
is
deferred an additional Government Commission, at his
Clerk informs us that an
coupon
road and bridge
office in Raleigh, for the pur¬ ann.
$40,000 water system bonds car¬ quarter of the total tax must be
bonds offered for sale On Dec. 2
ried by a vote of 172 to 28 at an paid by June 15, only two months chase of $88,000 general funding
after the first payment, and the and refunding bonds.
Dated Oct. —v. 154, p. 1280—were awarded
election held recently. The bonds
will
mature
$2,000
annually, balance must be paid by Oct. 15. 1, 1941. Due on April 1; $5,000 jointly to B. J. Van Ingen & Co.
in 1944 to 1960, and $3,000 1961, of New York, and Kirchofer &
starting with 1943. Other details,
Niagara Falls, N. Y.
without option of prior payment. Arnold of Raleigh, as l3As, pay¬
including sale date, still to be de¬
Bond
Offering—H. W. Clark,
There will be no auction. Denom. ing a premium of $171.45, equal
termined.
Acting City Manager, will receive
to 100.127, a basis of about 1.74%.
$1,000; prin. and int. (A-O) pay¬
sealed bids until 11 a.m. on Dec. 8
Dec.
1,
1941.
Due
on
Mamaroneck
Union
Free
School
able
in lawful money in New Dated
for the purchase of $463,000 not
District No. 1 (P.O. Mamaroneck),
York City; coupon bonds regis- Dec. 1 in 1953 to 1957.
Bonds
Granville, N. Y.
Voted — The
Guilford County (P. O.
must be paid by
Village
issue of
year.
to
If
exceed 4%
interest coupon or
N.Y.
terable as to principal only; gen¬
Commission for considera¬
Bond Sale—The $150,000 cou¬ registered bonds, as follows:
pointed out
eral
obligations; unlimited tax;
B water bonds. delivery at place of purchaser's
that this refunding would have pon or registered construction and $132,000 series
Due Jan. 1 as follows: $9,000
no
effect on the 1942 budget equipment bonds offered Dec. 3—
choice.
Y.
from 1943 to 1948 incl. and
Bidders are requested to name
other than to provide for heavier v. 154, p. 1279—were awarded to
$13,000 from 1949 to 1954 incl.
maturities than are
now being Halsey, Stuart & Co., Inc., New
the interest rate or rates, not ex¬
331,000 series D sewer bonds.
York, as iy2s, at a price of 100.required.
ceeding 6% per annum in multi¬
Due Jan. 1 as follows: $20,000
339, a basis of about 1.44%. Dated
ples of V\ of 1%.
Each bid may
in 1943 and 1944; $21,000 in
Matawan, N. J.
Nov. 1, 1941 and due $15,000 an¬
name
one
rate for part of the
1945, and $30,000 from 1946 to
Bond
Sale—The
Farmers
& nually on Nov. 1, from 1942 to
bonds (having the earliest ma¬
1954 incl.
Merchants
National
Bank
of 1951 incl. The bankers re-offered
turities) and another rate for the
Matawan purchased on Nov. 25 the bonds at
All of the bonds will be dated
prices to yield from
balance, but no bid may name
an issue of $3,000 water bonds as
0.40% to 1.50%, according to ma¬ Dec. 1, 1941. Denom. $1,000. Bid- more than two rates* and each
dier to name a single rate of in¬ bidder must
iy2s, at a price of 100.40. Denom. turity. Other bids:
specify in his bid the
$500. * Due serially in six years.
Bidder—
Int. Rate Rate Bid terest for all of the bonds, ex¬ amount of bonds of each rate. The
The Matawan Bank bid a pre¬ Marine Trust Co. of Buffalo.
pressed in a multiple of
or bonds will be awarded to the
and R. D. White & Co...
1.60%
100.318
mium of $23.55 for 2 %s.
A. C. Allyn & Coi; Inc., and1 ■
l/10th of 1%. Prin. and int. (J-J) bidder offering to purchase - ithe
E. H. Rollins & Sons, Inc."; 1.60
100.144
payable at the Central Hanover bonds at the lowest interest * cost
Salomon Bros & Hutzler
1.70
100.28
Teaneck Township (P. 0»a
Manufacturers ;V & a Traders
AaaBank & Trust Co., New York City.
to the town, such cost to be de¬
Trust .Co.
and George B.
"
Teaneck), ^ Jf*' '
'
The bonds are general obligations
Gibbons & Co...
1.70
100.189
termined by deducting the total
Bond Sale—The $70,000 coupon Blair
&
Co.,
Inc.,
and
of the city, payable from unlim¬ amount of the premium bid from
Bacon, Stevenson & Co...
1.70
100.138
or
registered assessment bonds
ited taxes.
A certified check for the
First National Bank of Mt.
aggregate amount of interest
offered Dec. 2—v. 154, p. 1139—
Vernon
1.75
100.03
$9,260 payable to order of the upon all of the bonds until their
to the
tion.
two
bidder must specify in his bid the
amount of bonds of each rate. The
bonds at the lowest interest cost
1951.
April 1.
Mr.
the needed legislation at
of the Legisla¬
ture. He noted that it would be
Dutchess County (P. O. Poughimpossible^ to put .the changes into
keepsie), IV.' Y.
r ■
effect before 1943, and suggested
Note
Sale — Paul J.
Miller,
that it might be advisable to defer
County Treasurer, reports the re¬
them to 1944.
cent award of $300,000 tax antici¬
The changes had been made
pation notes at 0.40% interest, as
possible, Mr. Moffat declared, by
follows: $250,000 to the Poughthe "greatly improved financial
keepsie Trust Co. and $50,000 to condition of the State." The new
the
Vassar Bank, Poughkeepsie.
status had been reflected in the
The notes are dated Dec. 2, 1941
elimination by the Legislature
and mature May 1, 1942.
Other
this year of the 1% emergency
bids: Chase National Bank of New
income tax.
:
York, 0.49%; Fishkill National
Under the present system oneBank, Poughkeepsie, 2%.
half of the personal income tax
was
coupon
discussion
school
$129,500
would provide for the surrender
of outstanding bonds with a 4%
to some
Income
posal
Binghamton, N. Y.
Authorized—An issue of
100.41
100.14
100.225
& Co. Inc.,
Merle-Smith, Drexel
Kuhn, Loeb &
and
than
more
corporated
Bonds
2.20
2.20
Albany),
Y.
100.685
is required.
respective maturities.
No bid of
Approved—Harry D.
fered Dec. 1—v. 154, p.
1280— less than
par and accrued inter¬
Yates, Deputy State Comptroller, State
installments
was
announced on were awarded to Gordon Graves est will be entertained.
signed on Dec. 2 an order permit¬
Nov. 30 by Abbot Low Moffat, & Co., New York, as 1.20s, at a
Bids must be on a form to be
ting the county to issue $727,000
price of 100.18, a basis of about furnished with additional infor¬
refunding bonds, to mature Dec. 1 Chairman of the Assembly Ways
1.17%.
Dated Dec. 1, 1941 and mation and must be accompanied
It would
as
follows: $43,000 in 1942 and and Means Committee.
involve the change of the start due Dec. 1 as follows: $2,000 from by a certified check upon an in¬
$36,000 from 1943 to 1961 incl.
of the State fiscal year from July 1942 to 1950 incl. and $3,000 in
100.125
Union
Co.
Co.
Refunding
100.10
2.10
Co
Robinson
Colyer,
2
2
Rate Bid
&
V/z
V/2
Dick &
$9,000, payable to order
Legal
opinion of Dillon, Vandewater &
Moore of New York City will be
furnished the successful bidder.
Morgan
P.
J.
NEW YORK
check for
of the county,
•
154, p. 1138—were awarded to
Schmidt, Poole & Co. of Phila¬
delphia, as 1.90s, at a price of
Saturday, December 6, 1941
CHRONICLE
Mr, Rothermel
,
Hickory, N. C.
following
Bond Sale—The
cou¬
semi-ann. bonds aggregating
$75,000, offered for sale on Dec. 2
—v. 154, p. -1309—were awarded
pon
jointly to Kirchofer & Arnold of
Raleigh, and the First National
Bank of Morgantown, as 2s, pay¬
ing a premium of $229.75, equal
to 100.306, a basis of about 1.97%:
$50,000
airport
Due on
1958 incl.
bonds.
Nov. 1 in 1944 to
25,000 refunding bonds. Due on
Nov. 1 in 1960 and 1961.
.
..................
M. Freeman
Co. of Philadelphia, as 1.40s, at
awarded to M.
Surry County (P.) O. Dob son), N.C.
Bond
Offering
< Sealed
bids
will be received until -11 a.m.
(EST), on Dec. 9, by W. E. Easterling, Secretary of the Local Gov¬
Commission, at his of¬
fice in Raleigh, for the purchase
ernment
of $75,000 bridge refunding bonds.
city, must accompany each pro¬ respective maturities.
(State of)
No bid of Dated Dec. 1, 1941. - Due on
issue of $15,- posal. The approving legal opin¬ less than par and accrued inter¬
a price of 100.16, a basis of about
June 1; $10,000 1952 to 1957 incl.,
ion
of
Dillon,
Vandewater & est will be entertained.
and $15,000 1959, without option
I.36%.
Dated Dec. 1, 1941, and 000,000 grade crossing elimination Moore of New York City will be
bonds offered Dec. 2 — v. 154,
Bids must be accompanied by a
due Dec. 1, as follows: $15,000 in
of prior payment.
There will be
furnished the successful bidder.
certified check upon an incorpo¬
1943 and 1944; $14,000 in 1945 and p. 1279—was awarded to a syn¬
no auction.
Denom. $1,000; prin.
dicate composed of the National
rated
bank or trust company,
and int. (J-D) payable in law¬
1946, and $12,000 in 1947.
Other
North Hempstead Union Free
City Bank of New York, First
payable unconditionally to the ful money in New York City;
bids:
School District No. 9 (P. O. WilNational Bank, Bankers Trust Co.,
order of the State Treasurer for
Bidder—
Int. Rate Rate Bid
liston Park), N. Y.
coupon bonds registerable as to
H. B. Boland & Co
1.40%
100.081
Smith, Barney & Co., Harriman
The right to reject all principal only; general obliga¬
Bond Election—An election will $1,760.
J. S. Rippel & Co
IV2
100.176
bids is reserved.
The approving
Ripley & Co., Inc., Halsey, Stuart
H. L. Allen & Co..
IV2
100.12
be held Dec. 15 on the question
tions; unlimited tax; delivery at
B. J. Van Ingen & Co., Inc.
1%
100.039
& Co., Inc., Lazard Freres & Co.,
opinion of Reed, Hoyt, Washburn
of issuing $595,000 building bonds
Bergen County Nat'l Bank,
a.
place of purchaser's choice.
& Clay, New York City, will be
Goldman, Sachs & Co. and the
Hackensack
IV2
Par
Bidders are requested to name
to mature serially in 30 years.
Union Securities
Corp.,
all of
furnished the purchaser.
Ventnor City, N. J.
the interest rate or rates, not ex¬
VY
—mmmm
New York, on a bid of 101.1099
Spring Valley, N. Y.
$201,900
Debt Reduction Ef¬
ceeding 6% per annum in multi¬
Conover, N. C.
for 1^2 s, a net interest cost of
Bond Offering — The Village
fected This Year—With the ma¬
Each bid may
Bond
Offering — Sealed bids ples of % of 1%.
1.4458%.
The bonds are dated Board recently voted to receive
name
one
rate for part of the
turity Dec. 1 of bonds totaling
Dec. 3, 1941 and mature $375,000 bids Dec. 17, for the purchase of will be received until 11 a.m.
bonds (having the earliest ma¬
$145,000,; city: will haye paid off
(EST), on Dec. 9, by W. E. Eastannually on Dec. 3 from 1942 to $6,650 fire truck purchase bonds.
since
Jan.. 1,
$201,900 of its
erling, Secretary of the Local turities) and another rate for the
1981 incl.
$
bonded
indebtedness,
according
balance, but no bid may name
Bonds Publicly Offered — The Suffolk County (P. O. Riverhead), Government Commission, at his
to Comptroller George H. Bratmore
than two rates, and each
office in Raleigh, for the pur¬
N. Y.
National City Bank of New York
bidder must specify in his bid
ten.
Paving bonds
for $80,000
Bond Offering—Ellis T. Terry, chase of $20,000 water and sewer
and its associates in the under¬
the amount of bonds of each rate.
issued in 1911 at 5% will be paid
County Treasurer,..will receive bonds. Dated Nov. 1, 1941. Due
The bonds will be awarded to the
off
on
that date
through the writing made public re-offering
of
the bonds
from a
yield of sealed bids until 1 p.m. on Dec. 10 $1,000 from Nov. 1, 1944 to 1963,
bidder offering to purchase the
sinking fund and $65,000 worth of
0.30% to a price of 99.50, accord¬ for the purchase of $450,000 not to incl., without option of prior pay¬
bonds at the lowest interest cost
refunding bonds will be matured
ment/
'
ing to maturity.
The bonds are exceed 4% interest coupon or
to the county,
such cost to be
through a budget appropriation.
Denom. $1,000; prin. and int.
g e n er a 1
refunding
regarded by the bankers as legal registered
determined by deducting the total
Also to be paid off in December
payable in New York
investment for savings banks and bonds. Dated Jan. 1, 1942. Denom. (M-N)
amount of the premium bid from
are
$4,500 worth of State road
trust funds in New York, Massa¬ $1,000.
Due Jan., 1 as follows: City in legal tender; general ob¬
bonds and $2,400 soldiers' bonus
the aggregate amount of interest
$25,000 from 1946 to 1951. incl.; ligations; unlimited tax; coupon
bonds.
On April 1, Bratten ma¬ chusetts, Connecticut and in cer¬
upon all of the bonds until their
tain other States.
•
$50,000 from 1952 to 1955 incl. bonds registerable as to principal
tured $30,000 and on July 1, $20,respective maturities.
No bid of
Other Bids—Comptroller Joseph and $100,000 in 1956.
Bidder to alone; delivery on or about Dec. less than
000 worth of bonds, both water
patf and accrued in¬
V. O'Leary, who conducted the name a single rate of interest, 22, at place of purchaser's choice.
and sewer issues.
Sinking fund
terest will be entertained.
There will be no auction.
sale, received three other offers expressed in a multiple of A or
Bids must be accompanied by
maturities total $130,000.
Bidders are requested to name
for the issue, as follows:
l/10th of 1%. Prin. and int. (J-J)
a certified check upon an incor¬
$795,000 Bonds Converted—On
Bidder—
Int. Rate Rate Bid
payable at the County Treasurer's the interest rate or rates, not ex¬
Dec. 5 Comptroller Bratten will Chase Nat'l Bank of N. Y.t
porated bank or trust company
office, with New York exchange, ceeding 6% per annum, in multi¬
Hallgarten
&
Co.,
Batrr
go to New York to witness con¬
Bros.
& Co.,
Each bid may payable unconditionally to th
Inc., R. W.
or
at the Irving Trust Co., New ples of lA of 1%.'
order of the State Treasurer, fo
version of $795,000 refunding 4%
Prcssprich & Co., Salomon
:;a
vA.
York City.
The bonds are valid name one rate for part of the
Bros.
& Hutzler, Chemical
bonds from registered to coupon
The right to reject al
Bank & Trust Co., Blair &
bonds
(having the earliest ma¬ $1,500.
and
general obligations of the
bids is reserved.
The approvin
Co.,
Inc.,
Blyth
&
Co.,
type. They will be registered as to
county, payable from unlimited turities), and another rate for the
Inc., Marine Trust Co. of
;
•
opinion of Reed, Hoyt, Washbur
principal, having been purchased
Buffalo, Manufacturers Tr. "1 ',i > v;x-v.;
ad
valorem
taxes. * A
certified balance, but no bid may name
Co., N. Y., Northern Trust
from the State Highway Sink¬
were
&
New York
Bond
Sale—The
■
•
.
Volume 154
Number 4016
THE COMMERCIAL & FINANCIAL
CHRONICLE
National
First
& Clay, New York City, will be
den
furbished the purchaser,
In the event that prior to the
delivery of the bonds the income
received by private holders from
bonds of the same type and char¬
acter shall
be taxable by the
terms of any Federal income tax
law, the successful bidder may,
at his election, be relieved of his
obligations under the contract to
purchase the bonds and, in such
case,
the deposit accompanying
&
&
Bank
of
Chicago,
and City
Co., Kaasas
tion, must accompany each
National Bank
City, and As¬
Co.,
Trust
Wee-
Rockwood School District No. 27
pro¬
posal.
sociates
City
Bank
of
New
York,
First Boston Corp., Harriman Ripley
&
Co., Inc., and Associates..
Bankers
Trust
Co.
of
New
York,
Smith, Barney & Co. and Northern
Trust Co. of Chicago, and Associates
Bond
Struthers, Ohio
100.35
Pennsylvania Turnpike Commis¬
sion (P. O.
Harrisburg), Pa.
Deficiency
Notices
Sent
To
(P. O. Portland), Orei^:
Sale—The $6,000 coupon
100,558
National
1365
Bond Offering—John F. Pearce,
school addition bonds offered for
Bondholders
sale on Oct. 14—v. 154, p. 450—
City Auditor, will receive sealed
were
purchased by the Charles
100.019
bids until noon, on Dec.
6, for the N. Tripp Co.,
Inc., of Portland,
Erie Township Rural School Dis¬ purchase of $1,765.64 4%
coupon as
l%s, at a price of 100.22, ac¬
trict (P. O.Port Clinton), Ohio
special
assessment
street
im¬
cording to the District Clerk.
Note Offering—Milton
Dated Oct. 1,
Finken, provement bonds.
Dated Dec. 1, 1941.
Due on Dec.
Clerk of the Board of Education, 1941.
One
bond
for
$265.64, 1, 1954.
Interest payable J-D.
will receive sealed bids until 8 others $500 each.
Due Dec. 1, as
p.m., on Dec. 9, for the purchase follows:
Silverton, Ore.
$500 from 1943 to 1945
\-;/L
of $1,288.07 not to exceed 4% incl., and $265.64 in 1946.
Bond
Sale—The
his bid will be returned.
Bid¬
$5,000 semiinterest second series refunding der may name a different rate of ann. refunding bonds offered for
NORTH DAKOTA
notes.
Dated Dec. 9, 1941, and interest, expressed in
multiples sale on Dec. 1, were awarded to
due Dec. 9, 1943.
Subject to call of % of 1%. Interest J-D. Bonds Daugherty, Cole & Co. of Port¬
Ashley, N. Dak.
after Nov. 30 in any year by the issued for the purpose of
provid¬ land, as 2s, at a price of 100.41,.
Bond Election—We understand Board of Education.
A certified ing funds in anticipation of the a basis of about 1.95%.
Dated
that the City Council called a
check for 1% of the notes, pay¬ collection of special assessments Jan.
1, 1942.
Due $500 from
special election for Dec. 5, to sub¬ able to order of the Board of for street
improvements.
A cer¬ July 1, 1946 to 1955 incl.
mit to the voters an issue of $40.tified check for $20, payable to
Education, is required.
000
not
exceeding
4%
water
PENNSYLVANIA
order of the city, is required.
works plant and sewerage system Granville Village School District,
Aspinwall, Pa.
Ohio
4
construction bonds.
Due in 1943
u
.
to
OKLAHOMA
1962.
Bond
New
Bonds
Offering—J. B.
District
son,
England, N. Dak.
sealed
Clerk,
bids
until
Hutchin¬
will
8:30
Sold—The
Bond Sale—The
p.m.
on
bonds
Oklahoma (State of)
receive
Court Approval Sought
/
p.
New
on
offered
Dec.
1199—were
Union
Trust
$60,000
"
Prin.
office
of
and
the
int.
payable
at
above-mentioned
,
from
1943
to
1966
the
biennium
ending with
June
30,
1941,
to
retire that
for amount in
outstanding non-pay-
refunding rapid transit bonds
Clerk.
A
certified
check
offered Dec. 1—v.' 154, p. 997$169.71, payable to order of the
were awarded to a syndicate com¬
district, is required.
Legal opin¬
posed of Lazard Freres & Co.,
ion of Squire, Sanders &
DempUnion Securities Corp., Lee Higsey
of Cleveland
will
be
fur¬
ginson Corp., Equitable Securi¬
nished the successful bidder with¬
ties Corp., Dominick & Dominick
out cost.
Kaiser & Co., and C. F. Childs
& Co., all of New York; Braun, Silver Lake
(P. O. R. D. 1, CuyaBosworth & Co., Toledo; Paul H.
4
hoga Falls), Ohio
DaVis & Co.,' Chicago; • Tucker.
r
Bond
Offering—J. R. Somers.
Anthony & Co., Content, Hano &
Village Clerk, will receive sealed
•Co., and Schwabacher &
Co;j all bids until noon, on Dec. 8, for
of New York, and Watling, Lerthe purchase of $10,000 3% sewer
chen & Co., Detroit, on a bid of
improvement bonds.
Dated Dec.
loi.2199 for I V4S, a basis of about
1, 1941.
Denom. $500.
Due $500
1.15%.
Dated Jan. 2, 1942, and on
June. 1 and Dec. 1 from 1943
due $185,000 annually on Sept. 1 to 1952 incl.
Bidder may name a
pon
for
incl.
able warrants and
interest
held by persons who did not
-
hearing
before the Su¬
the bond offering
program is scheduled for Dec. 1.
preme
Court
on
The bonds will be issued in $1,000
ture
denominations, and will ma¬
in 15 instalments, with in¬
terest
being payable each Dec. 15,
and June 15.
Exchanges
with
are
being
made
holders
rants
or
divided
turities.
Ripley
Drexel
of $15,000 in war¬
multiples of that sum,
evenly over the 15 ma¬
Most of the warrants
are
on
reduction
rate
payable
asnd
dollars
in
cancellation
of
coupons
of
the
Ito
the
the
had
passed
cou¬
of
.
is
and
Assessed
reported
as
valuation.
$839,885,950.
funded
net
Bond Offering—42. W.
Fanning,
Clerk of the Board of Education,
will
receive
sealed
bids
until
debt, including
$39,061,607.
noon, on Dec. 20, for the purchase
Unsuccessful Bids—Other bid¬ of $9,000 not to exceed 3% in¬
ders for the issue, all naming an terest water supply
system in¬
this issue,
as
-
interest
rate
of
11A%,
were
as
follows:
stallation
1942.
bonds.
Denom.
$500.
;i.
Bidder—
'
Rate Bid
,
Merle-Smith,
& Co.
Lehman
and
Wood,
Struthers
.,
*
Inc.,
Inc..
»
Bros.,
Stone
and
&
1
Oct.
Rate
of
&
Co.
and
~\s-
and
incl.
pay
accrued
delivery.
interest
The
,
for the
100.773
the
interest
to
100.75
certified
check
to order
of
.
100.559
date
will
of
pay
printing of the bonds, but
cost
for
v
•
,;.
to
district
of legal opinion and of
shipping the bonds must be paid
by the successful bidder.
A
.
Phelps, Fenn & Co.,
Webster and Blodget,
Estabrook
sociates. u...>..............
1,
expressed in multiples of %
of 1%.
Interest A-O.
Bidder to
'
.
1951
Jan.
be
■
••
April * 1
to
Halsey, Stuart & Co.. Inc., Blair &
Co.,
Inc.,
Darbv
&
Co.,
Spencer
Trask &
Co., Marine Trust Co. of
Buffalo,
B.
J.
Van
Ingen
&
Co..
Inc.. Bacon, Stevenson & Co., Otis
&
Co.,
G.
M.-P.
Murphv & Co.,
; First
Cleveland
Corp.,
Schoellkopf,
Hutton & Pomeroy,
Stroud & Co.,
A.
Webster
Dougherty & Co. and
William R.
Compton & Co.. Inc..,
J. p. Morean & Co. Inc., D<cV
Dated
Due $500 on
1 from
1943
*
Bonds
ing limitation placed by law
Approved—It
is
Authority
notices
in
connection with their bonds*
Pittsburgh Housing Authority
(P. O. Pittsburgh), Pa.
Note
Offering
Evans, Chairman,
—
George
E.
that
announces
sealed bids will be received until
1
p.m. (EST), on Dec. 9, for the
of
$18,100,000
notes,
consisting of $1,000,000 24th se¬
ries, $1,100,000 25th, $2,000,000
26th, $2,000,000 27th, $3,000,000
28th, $4,000,000 29th, and $5,000,-
purchase
000 30th.
Dec.
The notel will be dated
23,
1941,
and mature
30, 1942. Bidder to
of interest.
name
June
the rate
Wilson (P. O. Easton), Pa.
Bond
Offering—James B. Ac¬
ton, Borough Secretary, will re¬
ceive sealed bids until 8 p.mM on
Dec. 16, for the purchase of $28,-
0001%, iy4%, i%%, i3A%, 2%,
%, or 2 Vi % coupon, register-
2 y4
able as to principal
only, fund¬
ing and refunding bonds. Dated
Jan.
15,
1942.
Denom.
$1,000.
Due $2,000 on Jan. 15 from 1944
to
1957
incl.
Bidder
to
name
a
single rate of interest for all of
the
bonds.
Prin.
without
or
and
int.
(J-J)
deduction
taxes, except
for
succes¬
inheritance taxes, now or
levied
or
assessed
thereon under any present or fu¬
ture law of the Commonwealth
of Pennsylvania.
The bonds will
be payable from ad valorem taxes
within
the
taxing
placed by law
certified
bonds
upon
check
for
limitations
boroughs. A
2%
of
the
bid
for, payable to order
of the Bcirough Treasurer, is re¬
be issued sub¬
ject to favorable legal opinion of
Townsend, Elliott &' Munsori" of
Philadelphia, and approval of the
Pennsylvania Department of In¬
ternal
Affairs.
and
.
taxes.
and
received
RHODE
ISLAND
Publicly
.
Tri¬
new
bonds
different ; rate
of
interest,
ex¬ held
by banks and other large in¬ making further provisions with
Offered—The pressed in
multiples of Va of 1%. vestors.
respect to the said reduction ir
banking group made Issue was approved
by the voters
Bonds will mature at the rate interest."
public re-offering of the bonds at the
general election last No¬ of
at prices to yield from 0.40% tc
$1,150,000 face value each June
vember and is issued outside tax
Greensburg, Pa.
1.20%, according to maturity, and limitations. A certified check for 30, beginning with 1942, through
Bond Offering—James F. Gif1955, and $1,126,054 for the June
reported a good demand for the 2% of the bonds bid
for, payable 30, 1956
maturity, end of the se¬ fen, City Clerk, will receive sealed
obligations.
City will use the to order of the
bids until 4 p.m. on Dec. 22 for
Village Treasurer, ries.
proceeds to refund part of $6,- is
required.
A full transcript of
Interest rates range: iy4% on the purchase of $60,000 V\%, Y2%,
000,000 5% and 5%% rapid tran¬ the
legislation and proceedings maturities from 1942
or 1%%
to 1945, in¬ %%, 1%, 11A%, 1V2%
sit bonds which are callable on
will be furnished for the
approv¬
clusive; 1%% from 1946 to 1949, coupon improvement bonds. Dated
Jan. 2, 1942.
The balance of the ing opinion of
Squire, Sanders & inclusive; 1%% from 1950 to
Dec. 15, 1941. Denom. $1,000. Due
issues will be retired from sink¬
1953,
Dempsey of Cleveland, or other
June
15, as follows: $10,000 in
inclusive;
and
2%
from
then
ing funds. In the opinion of the bond
attorneys whose
fee • the
1944 and 1945; $15,000 in 1948 and
bankers, the bonds are legal in¬ successful bidder will assume and through 1956.
State Tax Commission reports 1949, and $10,000 in 1950. Regisvestment for savings banks and
pay.
Purchaser will also be re¬
collections from July 1 to Nov. 1 terable as to principal only. Int.
trust funds in New York, Massa¬
quired to furnish the bond blanks. at
J-D. Bidder to name a single rate
$22,104,619 against $16,288,164
chusetts and Connecticut, and, in
of interest for all of the bonds.
the opinion of counsel, will be Southirigton Township Rural School in corresponding 1940 months, a
The bonds will be payable from
general obligations of the city, District (P. O, Phalanx Station), gain of $5,816,454.
ad valorem taxes within, the tax¬
Ohio
<
payable from unlimited ad valo¬
Tulsa, Okla.
1941,
not
which
the
hereafter
interest
present
said
of
Authority
Bridge
paying and grad¬ quired. ^Bonds'will
annexation
trusts
the Port of New York
but
Cranston, R. I.
successful
rem
four
securities
borough
*
Bonds
to
hold
also
or
ing bonds of the borough of Coaldale, Schuylkill County, Pennsyl¬
vania, date Aug. 1, 1930, to 3%
authorizing and providing for the
pons,
addressed
sion
the
few bondholders of
a
Triborough Bridge Authority
the Port of Ney York Au¬
thority. Those sent recently were
and
100.692
upon eighty thou-($80,000).= principal
amount of 5%
been sent to
tax
the following ordinance: "Author¬
izing
right
the
any
18
the
municipal
securities. Notices previously had
payable
100.719
Nov.
ulti¬
prove
has
under the Constitution to tax the
income from State and
100.11
Coaldale, Pa.
meeting
Government
100.134
Authorizes Cut In Interest Rate
—The Borough Council at a
spe¬
cial
eral
l'/4
Co., Inc.,
Co...........
&
Co.
and
to
mately in the courts that the Fed¬
1
&
&
Hemphill,
Noyes
Spencer Trask & Co.........
Halsey, Stuart & Co., Inc.....
ex¬
desire to exchange for the
bonds.: ;
•
Public
and
claims
press a
new
Harriman
intended
1
••
A-O.
4
Treasury moved to broaden
test
the
that
Bond Sale—The $4,440,000 cou
its
154,
to
.
'
Turnpike Commission Dec.
the
as
of
City Auditor Dec. 22 for the
Pittsburgh,
purchase of $138,- Funding Bonds—Final action to¬
as
iy4s, at a price of 102.053, a
$26,000
light
and 000 6% building bonds.
Dated ward complete funding of Okla¬
basis of about 1.04%. Dated Dec.
power plant revenue bonds were
1,
July 1, 1941. Denom. $2,875. Due homa's state general fund deficit 1941
and due $5,000 annually on
offered for sale on Dec. 1 and
$2,875 semi-ann. on May 1 and for the last biennium and placing
Dec. 1 from 1946 to 1957 incl.
were
purchased by the Citizens Nov. 1 from 1942 to 1965
State
incl. the
government
on
a
Other
bids:
State Bank of New England.
(for
lyjs) Moore,
Bidder may name a different rate strictly cash basis has been taken
Leonard & Lynch,
101.946; E. H.
of interest, expressed in multiples by the Oklahoma Funding Bond
Rollins & Sons Inc.,
OHIO
101.298; Blair
of x/\ of 1%. Interest M-N. A cer¬ Commission.
It asked the State
& Co., Inc., 101.014;
Singer, Deane
Carroll County (P. O. Carrollton), tified check for $1,500, payable to Supreme
Court
to
determine
&
Scribner,
100.73;
Elmer
E.
order of the Board of Education, validity
Ohio
of "Funding Bonds
of Powell &
Co., 100.375; (for l%s)
is required.
1941, Series A," to be issued as of
Bond Offering—Basil L. NewBurr & Co., 101.145.
Dec. 15, 1941, to fund the deficit.
bold,
Clerk
of
the
Board
ol
Maple Heights City School Dis¬
Funding operations are designed
Bethlehem, Pa.
County Commissioners, will re¬
trict (P.O. Bedford), Ohio
to retire by exchange on a par for
Bond Sale—The issue of
ceive sealed bids until noon on
$250,Bond
Offering—F. J.
Vasek, par basis, $16,534,904 in 4% non- 000 funding
and
Dec. 15, for the purchase of $96,improvement
Clerk of the Board of Education,
payable warrants, and enough in¬ bonds offered Dec. 2—v. 154, p.
000 not to
exceed
4%
interest will
receive
sealed
bids
until terest to
bring the total of bonds 999—was awarded to the Union
county
home
building
bonds.
noon, on Dec. 22, for the purchase to
$17,226,054.
The commission Trust Co. of Pittsburgh, as Is, at
Dated Jan. 1, 1942. Denom. $1,000.
of $16,971.36 4% refunding bonds
has
been
notified
by warrant a price of 100.62, a basis about
Due $3,000 on May 1 and Nov. 1
of
1941.
Dated
Oct.
1,
1941. holders that they want to ex¬ 0.90%.
Dated Dec. 15, 1941, and
from 1943 to 1958 incl.
Rate oi
Denoms. as requested by the pur¬
change this sum in warrant and due serially on Dec. 15 from 1944
interest to be expressed in a mul¬
chaser.
Due Oct. 1, as follows: interest
claims for the new bonds to 1951 incl.
Other bids:
tiple of V\ of 1%.
Interest M-N.
$1,471.36 in 1943; $1,500 in 1944, on which interest rates will
Bidder—
Int. Rate Rate Bid
range
A certified check for 5% of the
and $2,000 from 1945 to 1951 incl.
Stroud & Co. and Schmidt,
from lJ/4% to 2%.
Pcole & Co
order
of
the Bidder
bid, payable to
I%
100.468
may name a different rate
Otis
&
Co.
In
and
Barclay,
addition,
State
Treasurer
County
Commissioners,
is
re
Moore &
Co
of
1
interest provided that frac¬ Carl B.
100.17
Sebring will use about Blair & Co., Inc., and Dol¬
quired.
tional rates are expressed in a
phin & Co., Inc...
1
100.158
$200,000 accrued in the treasury First Boston
Corp. and Charles
multiple of V\ of 1%.
Interest to the credit of the
Cincinnati, Ohio
Clark
&
Co....
general fund
states
sent to four bondholders of
were
the
coupon
1—v.
awarded
Co.
By
Treasury
De¬
partment—Notices of deficiency
upon
"
Bond Sale—The $61,000 coupon
welfare bonds offered Dec. 3—
154, p. 1311—were awarded to
Halsey, Stuart & Co., Inc., New
York, as IVas, at a price of
v.
100.196,
Dated
a
basis
of
about
1.22%.
Dec.
1, 1941, and due
1, as follows: $7,000 in 1942,
$6,000 from 1943 to 1951
Second high bid of 100.79 for
was made by Arthur
Perry
Dec.
and
incl.
l%s
Co.
of Boston.
SOUTH
CAROLINA
^
Blacksburg, 5. C.
Bond
Call—J.
Town Clerk and
that
refunding
H.
Moorhead,
Treaurer, reports
bonds
to
the
amount of $150,000, dated
Aug. 1,
requested subject to approval 1937, maturing Aug. 1, 1943 ta
that at the Dec. 2 election $3,833,- of issue by the Pennsylvania De¬ 1967, are called for payment on
000
public improvement
bonds partment of Internal Affairs.
A Feb. 1, 1942, at par and accrued
Were approved by the voters.
certified
check
for 2%
of the interest, at the Chase National
bonds bid for, payable to order Bank, New York City. All bonds
OREGON
of the City Treasurer, is required. presented for payment must have
Feb.
1,
1942
pM
subsequent
Clackamas County School District Lower Chichester
Township, Dela¬
coupons to respective maturities
No. 3 (P. O, West Linn), Ore.
ware
County, Pa.
thereof attached.
Interest ceases
Bond
Offering — Sealed bids
Bond Call—John T, Lamplugh. on Feb.
1, 1942.
will be received until 8 p.m., on
Secretary, announces that bond
South Carolina (State of)
Dec. 8, by Clyde Hughes, Clerk numbers 21 to 30, both
incl., of
of the Board of Education, for the 5% issue dated Jan.
Certificate
1, 1922,
Offering — Sealed
the purchase of $20,000 building and due Jan.
1, 1952, callable bids will be received until noon,
bonds.
Due $4,000 in from one after 20 years, have been called on
Dec.
16, by Jeff B. Bates,
to five years after date.
Payable for redemption on Jan. 1, 1941, State Treasurer, for the purchase
at the County Treasurer's office. and will be paid at the Marcus of
$550,000 certificates of indebt¬
stated
by Milton W. Davis, City Auditor,
for $900, payable These bonds were approved
the Board of Educa¬ the voters on Sept. 26.
Hook
by
,
t
the cities of the Third Class. Bids
are
.
National
Bank,
Marcus
Hook.
J
J
i
i.
/;}
.
.
:
,*t
edness.
Dated
Jan.
1,
1942.
Denom. $500, or multiples there-"
THE COMMERCIAL ^ ^FINAHemE.CHRONICLE
1366
for
the denomination or
will
denomi-
22, by John Amundson,
City Anditor, for the purchase of
coupon street
improve¬
ment bonds.
Denoms. $1,000 and
$10,000
Due
follows: $500 in 1943
and $1,000 in 1945 to
1, 1942.
Dated Jan.
$500.
Jan.
1,
and
1944,
Prin. and int.
1953.
as
payable at
convenience.
place of purchaser's
bonds
The
from an
tax, and
payable
are
valorem
ad
unlimited
and local tax¬
ation.
Authorized at the election
held on Nov. 18, 1941, by a vote
of 78 to 50.
Legality, approved
free from State
are
of
additional build¬
constructing
issue said
•
Bonds
validity
Supreme Court in an opinion ren¬
dered on Nov. 6, 1941, in a cause
entitled Crouch vs. Benet, et al.
The certificates will be awarded
As between bidders
the same rate of inter¬
est, the amount of premium of¬
fered will determine the award;
Delivery of the certificates will
be made in Columbia. The enact¬
ment at any time prior to the de¬
of delivery.
certificates of in¬
debtedness, of Federal legislation
which in terms, by the repeal or
omission of exemptions or
wise,
tax
other¬
to a Federal in¬
interest on certifi¬
subjects
come
the
indebtedness of a class or
cates of
and
Sale—The
Bond
composed of Phelps, Fenn & Co.,
R. W. Pressprich & Co., Paine,
Webber & Co., all of New York:
Webster & Gibson of Nashville;
Otis &
Co. of New York; the
Wells-Dickey Co. of Minneapolis
and the Milwaukee Co. of Mil¬
at
the
under
Obligations
of
the
contract
the
purchaser
the
amount
terms
of
the return of
deposited
with
the
Arrangements
have
been
made for the printing of the cer¬
bid.
tificates,
the
same
The delivery
will be accom¬
bidder.
of the certificates
panied with the unqualified opin¬
ion of Huger Sinkler of Charles¬
ton, that the certificates are valid
-obligations of the State, while
payable primarily from the in¬
heritance tax imposed, levied and
"collected by the State, the full
on
.
,
Denom.
1941.
No. 12, due Nov. 1, 1940, will
payment of any past
due interest. Holders of; the original
unexchanged
bonds
and
warrants will receive an amount
pon
be entitled to
Offered
.San Antonio, at
103.89! These bonds
an
authorized
the remainder of
price of
a
are
of
issue
part of
$40,000.
which will not
be issued at this time.
semi-
Approved—We; under¬
stand that a recent election re¬
sulted in favor of issuing $34,000
(P.
23/4s, paying a price of 100.76, a
Dated Dec.
basis of about 2.63%.
Due
Jan.
on
1 in 1943
Debt
S. D.
plan for
water bonds.
Dated Jan.
July 1 as
suitable bank or trust
pany
and
sidered.
man
be
close
com
& Barber of
a
amount
payable to the Town Treasurer.
forth ini
Legality approved
by Chapman & Cutler
Bonds Offered for
at
96.00.
at
.
.
Lubbock Indi Sch. Dist. (P.
V
-
Lubbock),
Medina County
of Chicago:
Investment—^
and accrued interest.
Bond Proposal
2.
Road District No. 1
is now
Approved
;
<
—
We
in part as follows from
quote
story which appeared
news
the
reoffered
general subscrip¬
Charleston, W. Va. '
Texas
Bond Sale Cancelled—It
1—v. 154,
106
O,
(P. O. Hondo),Texas
$2,000,000,* Of¬
purchasers
above bonds for
a
in the
Charleston ''Mail" of Nov. 27:
The
avenue
leading to possible
construction of a municipal hos-*
pital in Charleston was opened
Wednesday night when city coun¬
cil voted to accept an offer of a
$1,000,000 loan from a Charleston
bonding
house,
the money te
come from 30-year, SVz%
reve¬
bonds.
nue
of
the
.
city
above
in
$10,000' in
1954,
...
—
1955.
will be received until 8 p.m. on
$5,000 in 1956, $10,000 in 1957; Dec. 9, by W. B. Hoyle, .City
$5,000
in
1958, V $10,000 * in {■Secretary,, for the , purchase of
1959, $5,000 in 1960, $10,000 $50,0Q0. not to exceed 2V2% semiin 1961' and 1962V $15,000/in ann.
airport construction bonds.
fense
1963;
.
composition of the
refunding
of
bonds, in
ation
he
.
$484,350,
will
be
se¬
tary sewer system, and pledge of
net revenues on the systems. The
bonds of both issues will be dated
-
Nov.
1,
1941,
bear
3%
interest;
the
on
council
we
a
brief de¬
"We
floor.
can
in
>
Two Jcpiiriqilmen
voted against the proposal -and
Cabelf County (Pi'O. Huntington ),
two others passed their vote.; - i
50,000 airport improvement and ^4444:;;.^ W. Va.
The bonding firm specified that
drainage bonds. /For $45,000 V Bonds,; Sold; 4-.;:;Thc" following
a non-partisan
maturing Dec.
advisory board of
1/$5,000 in bonds ;. aggregating
$1,911,000,
-1948, 1950, 1952, 1954;M956, have!! been purchased by 4 a syn¬ from three to five members be
named to guide the project and
1958, 1960, 1962 and ,19.64i;as dicate composed of Blyth. & Co.
-3s, and $5,000 maturing Dec. of .Chicago; Nelson, Browning - & an architectural firm of recog¬
nized standing
in hospital con¬
1, 1966,.as 2%s.
Co.; and Charles A. Hinsch .& Co.,
struction be employed;
The firm
r
\! 4 ■ Vw
100.000 park-system bonds.' For both of Cincinnati:
*
$96,000 maturing.. $4,000 -Dec. $411,000 2%% toll bridge revenue further stated in the offer ;that
should Congress pass a law tax¬
■I; 1942 to 1965,.as 3s, and $4> 4':' bonds." Due -Aug. 1, as folbonds (which it
lows: $47,000 in 1943, $48,000 ing 'municipal
000
maturing Dec. ^ 1,' 1966;
"then we
,4 • in 1944, $49,000 in 1945, $50,- has been considering)
as 2%s.
^ 000 in 1946, $52,000 in 1947, are to have the privilege or op-.
75,000 * city hall improvement
$54,000 in 1948':and 1949 and tion of withdrawing from our ob¬
bonds, as 3s. Due $5,000 frdnf
ligation hereunder."
■;!/'!;/..
$57,000 in 1950.
Dec. 1, 1942 to 1956.^
V-
the^financing."
2%s.
t
>
work it out,"
get quicker consider¬
Washington if we can
show them we have the; rest oi
feel
•
the,
sani¬
so we can
explained during
bate
$10,000 in T964/%and Due $5,000 in from 1 to 10 years.
$15,000 in 1965,.Vas^Ss^;ahb
'v'-' jWEST VIRGINIA
:$lO,(H)0;jnati^
as
the
"It merely opens up
area.
the matter
.
1
cured by the deed of trust on
waterworks system and the
En¬
$500
the Indenture.
.
revenue
Minneapolis will
certified check for
the
'
city. ' The other issue, known a?
waterworks
and
sewer
system
Barker, Col-
furnished the purchaser.
Plan—The
'
tax-supported bonds, will be
payable from and secured by a
continuing ad valorem tax against
all taxable property within
the
approving opinior
of Fletcher, Dorsey,
ton, all as more fully set
tion, the 2%s priced to yield from
0.75% to 1.80%, according to ma¬
turity, while the 3!/4Srare;priced
;
as
interest can be con¬
The
operation of the bridge extending
across the Ohio River at Hunting¬
,
gregating $726,525.
The issue in
amount of $242,175, known
No bid for less than par
accrued
legally binding obligations of the
county, and are secured solely by
revenues to be derived from the^
•
the
designated by the successfu'
bidder.
pf $2,000,000, in the opinion
counsel, constitute valid and
.
$484,350 and one for $242,175, ag¬
1
$1,000 to $100. Due
follows: $100 in 1943 tc
1951, $1,100 in 1952 and $1,000 ir
1953.
Prin. and int. payable a'
any
Of
f,C."Ed- Montague, County (P. O. MontaThe offer of the loan was made
to the city, by the Young, Moore
gar: Honnold, of Oklahpftia1 City?
McDougal & Condon, of Chicago'
and. Company pf Charleston and
VBondsSold—-A-.$25,OOOissueof
Peters, Writer & ChristensenT* of
affiliated
companies, Walter!
3%%' semi-ann. road and bridge
Denver.; Einhorn & .C6.;'.EdWard
TefOnding 'bonds is said* to have Woody and Heimerdinger anq
Brockhaus & Co.; both pf^ihdid
Widmann and Holzman of New
betempurchased by R. K. Dunbar
nati, C. S. Ashmun Co., of Min¬
York. Provisions included in thd
& Co.'; of i Austin. Due on April 1
neapolis, and Russ & Co:- of San
offer are that it is to be com/'
in 1956 to 1959.
Antonio, paying par, a net inter¬
pleted by Feb. 1 or the company
est cost of about 2.98%V! on - the
'4„
Seminole, Texas
has the privilege of withdrawing
V Warrants Sold—-The City Secre¬ the offer of handling the revenue
bonds divided as follows:
;
$200,000
Water
works
systenj tary; states that $8,434 5% semi- bond. issue. The brokers take, the
water
improvement time position that the deal should bef
bonds. For $190,000 'maturing ann;
warrants have been purchased by
completed within 60 days..
!
*
Dec. 1, $5,000 in 1942 to'1946-,
Crummer & Co. of Dallas. Due in
! Mayor Dawson, however,- ad¬
$10,000 in 1947, $5,000 in 1948,
1955.V
$10,000
in " 1949,
$5,000 v iri
mitted that Federal aid is still un¬
V.
1950, $10,000 in 1951','$5,000
certain despite the designation of
V ;. Temple, Texas
in 1952, $10,000 in 1953, $5.?
Bond Offering
Sealed bids the Charleston district as a- de¬
provides for the issuance of two
issues of refunding bonds.
One
issue is to be in the amount of
Denom.
1942.
sue
The
-
Composition
indebtedness
m.on Dec. 8, for the purchase
$3,000 not exceeding 5% semi-
ann.
Aug. 1, 1940.
Interest
payable F-A. These bonds, being
the unmatured portion of an is¬
City officials siid following the
1280—were a warded to; a; sy n* Stated that the sale of the $100,000
meeting that' overture^
dicate composed of Phelps,. Fenn road improvement bonds to De- council
& Co., Paine, Webber & Go^v East* War, Robertson & Pancoast of San now will be made to Washingtori
Antonio, as:2^s, .noted here in authorities for a grant of match-i
man, Dillon & Co.; all- of; New
York; R^nsbri-David^tt^^i^df AuguSt;swas cancelled due to .the ing funds with which to construct
San Antonio; R. S.♦?Dicks6h'^& fact that the bonds:were rejected the hospital in this designated de*;
Co., of Charlotte; Barcus; Kin¬ by - the' voters at a subsequent fense area. The city will provide
a site.
■
•
dred & Co., of Chicago; >HV V: election.'-:
Cisco, Texas
stated by
Merle Gray, Town Clerk, that he
will receive sealed bids until f
p.
whatsoever.
Dated
.
p.
000
Bond Offering—It is
of
.
bonds.
construction
incl.
Harris burg,
Texas
O. Canutillo),
'Bonds
d;o Kalman& Cpv of St, Paul, as
1953
and thereafter for any reason
,
auction
1941.
bridge prior to Aug. 1, 1945
Sattley & Co., of Detroit;
-
Canutillo-Anthony Com. Sch. Dist.
1,
provided, how¬
that the purpose of such
redemptions shall be to per¬
mit the application of surplus
revenues realized or collected
from
the
operation of the
ever,
4
in our; issue of Dec.
sale on Dec.
thereafter and prior
maturity,
to
the 3s at prices to
yield from 1% to 3%, according
to maturity, and the 2%s, priced
Corpus Christi, Texas :
j .
Bond
Sale — The
semi-ann;
for
V
as evidenced by ac¬
crued interest coupons, if re¬
deemed
.
bonds aggregating
on
except
scription,-
paid on each
as
and
Without
V
fered
refunding bonds offered for
sale on Nov. 28—v. 154, p. 1199—
to
time
thereafter
prior to Feb. 1, 1955 and
additional interest,
or
such
of
such
if
1%
1950;
J
ann.
public
is, $3.30 will be
$1,000
At
..
Independent School Dit(P. O. Geddes), S. Dak. -
at
redeemed
prior
or
on
1,.
Bonds Offered for Investment
successful bidders reofiered the bonds for general sub*
equivalent to 1% on the principal
indebtedness they would haVe re¬
ceived
if they had exchanged
their securities for the 1934 bonds;
for Investment
—The
successful
bidders reoffered the. above bonds for public
subscription, the 3s at prices to
yield 1.40%, while the l'%s are
priced at 99.50.
,
'•
iCeddes
awarded
Feb.
to
prior to Feb. 1,
or
if redeemed there¬
and
after
:.
—The
,
that
on
1945; 3%
,
Dated Dec.
$1,000.
of
were
*
.
.
Bonds
SOUTH DAKOTA
$23,000
.
.
payment of principal and inter¬
Bonds Sold—K. YV Worthing*
est.
The cost of such opinion is
to be borne by the successful bid¬ ton,
City Secretary, states that
der.
Enclose a certified check for $20,000 2V2% semi-ann. air school
$6,000,
payable
to
the State bonds have been purchased by
Treasurer.
the Columbian Securities Corp.
Sale—The
-
,
as
Dec. 1, 1957.
Bollinger, Texas
trict
j
,
faith, credit and taxing power of
the State are
pledged for the
Bond
$24,000 in 1958, $25,000 in
1959, $27,000 in 1960 and
1961, and $30,000 in 1962 to
,vr=4
■'
and
bonds,
par,
deemed
,
>-
182,000 State Consolidated (for
county reimbursement) bonds
as 3s.
Due on Dec. 1, 1950"
but the cost of printing
is to be borne by the
successful
:
Institutions
IV2S. .Due
sale and entitle
to
at
indebtedness, .; V Bonds Approved — It is stated
the; holders of by A. C. Jackson, Business Man¬
ager of Schools, that at the elec¬
365,000 State Institutional bonds. 51% of the outstanding indebted¬
as iy2s.
Due on Dec. 1, 1957. ness of the city affected by the tion on Nov. 29 $350,000 hot ex¬
ceeding 2V2% semi-ann. construc¬
240,000 ;State
Defense bonds plan have consented to the plan,
tion bonds were approved by the
as IV2S.
Due on Dec. 1, 1957. a petition will be filed in the
voters.
These bonds were sold
200,000 State Guard bonds, as United States District Court ask¬
ing for a confirmation of the plan. subject to the election, as reported
IV2S. Due on Dec. 1, 1957.
Penal
of the purchaser,
purchaser from his
at the election
,
-
Charitable
State
blocks of present
when
part
on
000
accommodate- the
To
in
payrhent date/
30 days' published notice
plus additional inter¬
est iri;the ainount Of 5% if re--
;
in 1952, $19,000 in 1953, $20,in 1954 and 1955, $22,*
V 4000 iii 1956, $23,000 in 1957;
V
i
refunding bonds will be
issued in even denominations,. if
;: 1965, as 3s, and $30,000 masuch can be done Without. ad¬
versely ; affecting the plan. -The v ■.Vturing Dec. 1, 1966, as 23/4S.
•500,000
s treet
improvement
city will pay an amount equal to
bonds. For $495,000 maturing
1% of the face amount of the
Dec.
1, $12,000 in 1942 to
present outstanding 1934 refund?
??-1946, $7,000 in 1947 to 1951
ing bonds ($3.30 for' each ' $330
$30,000 in 1952 to 1954, $35,bond) as full payment for all past
;
000 in 1955 and 1956, $40,000
due interest that has accrued or
in 1957, $45,000 in 1958 to
will accrue prior to Nov. 1, 1941,
1961, and $5,000 in 1962 to
provided, however, that no holder
.1965, as 3s, and $5,000 maof 1934 refunding bonds who has ;
,•
turing" Dec. 1, 1966, as 2%s.
received payment at | j?ar 'oh- ;cou?
cost of about
follows:
refunding
time
interest
uled
,
posed
price of 100.10, a
1.60%,
a
interest
net
•
new.
to
time
selected by lot; on any sched*
,
v
outstanding indebtedness, the pro*
registered semi-ann. bonds ag¬
gregating $1,522,000, offered for
sale on Dec. 3—v. 154, p. 1140—were,
awarded to
a
syndicate
waukee,
>
the
holders of large
or
coupon
.
of
$100
bonds.
of)
Tennessee (State
as
the
to maturity in whole, or, from
^
:
O. Elizabeth"
ton)$LTenn.
Sold—A $75,000 issue of
which includes these
$535,000
certificates of indebtedness, will,
character
relieve
.
■,
i
•
$470,000
maturing
Dec.
1,
changed for each $1,000 of such
original securities $50 of the new <!'. $10,000 in 1942 to 1946, $15,000 in 1947 to 1951, $18,000
tax-supported
refunding
bonds
semi-ami. bridge bonds is
said to have been purchased by
L. H. Ghormley & Co. of Knoxville. Denom. $1,000. Dated April
"naming
the
i
Subject. to. redemption prior
.
4%
est, at a price not less than par
and accrued interest to the date
of
bond* on
date. .The
1
1, 1941.
Due $5,000 in ' 1946 to
offering to take 1960 incl. Legality approved by
them at the lowest rate of inter¬ Chapman & Cutler of Chicago.
livery
any
;
;
bidder
the
-to
interest,
rev*- ;
1965.
"
.
Carter County (P.
affirmed by the State
been
have
V 100,000.*; garbagei disposal plant V; 1,500,000; 3 lA % toll bridge
enlie bbhds. Due'; Aug. 1;
l:h*. bonds. For $96,000 maturing
$4,000 . Dec. 1, 1942 to, 1965,
as ' 3s, .and $4,000 - maturing
Dec. 1, 1966, as 2%s.
any
interest paying
city
will
exchange ^ the new 325,000 sewer system bonds. For
$291,000
maturing Dec. ' 1,
refunding
bonds for § its % pres¬
; <$5,000
in 1942 to 1951, $16,ently outstanding indebtedness-.oh
<
000 in '1952 to 1954, $11,000
the following basis: For each $330
in : 1955 to 1957, $7,000 in
of refunding bonds dated Nov. i, ! 4441958 to 1961, and $33,000 in
1934, the holder will < receive: in
v
1962 to 1965, as 3s, md $34,exchange $50 of the new tax sup¬
« 000
maturing Dec.
1, 1966,
ported refunding bonds and $100
of
the
new
revenue | refunding iu,C'.V as 2%S, •••/.■"
150,000 fire station bonds. For
bonds, and in order that the hold¬
;
$140,000 maturing Dec. l;"$5:r
ers
of the original bonds and
warrants who have not exchanged v- -000 in 1942 to 1961, and $10,*
their securities for the 1934 re¬ \ v Q00 in 1962 to 1965, as 3s,
and $10,000 maturing Dec. 1,
funding bonds will be on a parity
1966; as: 2%s.
With those • who have made such
500,000
hospital - bonds,
For
exchanges, there . shall u be , ex*
accrued
TENNESSEE
ings and facilities at the State
Hospital and at the State Train¬
ing School. The right to
certificates
and
their
the
and
:
260 of the Acts of the by Fletcher, Dorsey, Barker, Colman
&
Barber of Minneapolis.
General Assembly of the State for
Enclose
a
certified check
for
1941, and for the purpose of ob¬
"V 4; '•
:taining funds to finance the cost $1,000.
No.
Act
years,;
4 * Saturday, December 6, 1941
V
> < w;
.
of
to Section No. 102,
pursuant
be
—
Dec.
on
but
40
r
Sealed bids city" wilL hav^^^
,4
received until 8:30 p.m., call for redemption, at;-, pan varid
Offering
Bond
in the event
that no such stipulation is made
on the part of the purchaser, the
'denominations will be arranged
so
that 27 bonds of the denomi¬
nation of $1,000
each and ope
"bond of $500 will become due on
each'principal maturity date. Due
$27,500 Jan. 1, 1943 to 1962. Bid¬
ders are invited to name the rate of
interest which the certificates are
to bear in a multiple of xk of 1%,
such rate to be the same for all
of the certificates bid for.
Issued
desired,
tions
in
mature
Volga, s. Dak.
Subject to this provision, the
bidder may stipulate
Of..
^successful
.,
j1
Number 4016
Volume 154
THE COMMERCIAL & FINANCIAL CHRONICLE
Per
Redemption Calls and Sinking Fund
-r-C4;/"-1?/■
;:/
$ou5<^
totfi
i ;B6low
bonds,, notesK /:
vv,
and preferred stocks called for redemption, including
vV'-^ttiose called under sinking fund provisions. The date
.
-V"
~
*V-** ' '■'".
Crt/lOd')
\
/ $5
fruit
1
A-Amer., British & Continental Corp. 5% debs., due 1953__Fel)
Appleton Company-preferred . stock™*-.-;.—_
—Feb
';/• / tf
V,
Canadian ^Bakeries,
-.
Canadian Foreign Invest. Corp., Ltd., 8%. pref. stock—Jan
1
-///v/Carmelite -Sisters /of1 the 'Divine ; Heart/pi /Jesus,/v /v. i?
.
Art
o;
'V'j^..':;'-;^r/t'serial''.bond8'of'3938Lc;—iLiJ—i-Dec,:15-.
Community Power & Light Co. 1st mtge. bonds—-—--Dec 24*
Connecticut Railway & Lighting .Co. 4y2%Jbonds_*'.i__Jan
L
Continental Baking Co. 8% preferred stock/*;;-—-.:/*--Jail
1
Dayton Power & Light Co. 1st mortgage 3s, due 1970lLlan r 1
Detroit, Tol. & Tronton RR. 1st mtge bonds, due 1964_ Jan
1
10c
bonds
v
due }950
-
wjun
.
.y,' 'V/.s
Lehigh Valley Transit Corp. 1st mtge. bonds, due 1945—Jan
Louisville & Nashville RR.
T/
Mandel Bldg.
-•■
Mayaguez
Corp. 7%
Light,
unified
mtge. bonds.:
1926——
bonds of
Power
&
Ice
Co.,
Inc.,
16t
Dee
mortgage
/f'l- 2
11-29
40c
1-/2
11-29
/New 'York
Corp.
•
City Omnibus.. Corp.-r-New / York Railways ?
liens, due 1958—Jan
.
-.
// *
Paramount Pictures, Inc., 3 V* %
■
Philadelphia Rapid Transit Co. real estate 1st mort«
•gage 6% bonds of C. Benton Cooper of 1924—L—_—.Jan
'
series
-
A,
1953.—
1
Dec
Dec
31
Manufacturing Co. common stock
Union Depot Co. 1st mtge. 5%
,;:/ks..>;1972:
ili.—■—u—Vw^w^Uw^——....
Saint
Paul
Jan
Canadian
1194
Av
Co.
5'J?/bonds,
due
4%
Co,
Co.-Keokee
Canadian.
1
15
1195
•-jy*Annquncemepts in this issue,,
.
...Jan
•
which
follow with
we
second
a
table
Capital
/v
y
'/Abbott Laboratories
y' .'-Extra
'.-•
Aetna'
Aluminum
Casualty
Casting Corp.
&
Surety
Co.
(Hartford)
Extra
12-24
12-15
12-
Central
•'"/
4.
6%
12-10.
'■'1--2
•
Life
Insurance
i"Extra
Co.
Alabama
Power
30c
.
—i/——
Co.--r'
.
^•
$5. preferred
Albany & Susqwehanna
■'Alexander
Allen
ijr
(liquidating)
Baldwin,
&
y-;$4W/;
(s-ft)_—
Aluminum Goods
American
.1-.16
.
2-
12-15
-
Airline.
- (irregular)
_i_y.-i:;.--—
Inc.,
12-
,
*..:'rV'-406^
16C '
w
■
^.$iy2/
common: Ivear-end)
12-r
12-20
y
25c
iy
1-15;
12-19/
20c
1-15
12-19:
/ 12-24
American
Express
Co.
(quar.)—
Co...
(quar/.^/k--—r*-y
$i x/a
-1-
k'Amertcarv Hide
Leather]
~ conv,
12-13
2
yAmerican Home Products Corp. (monthly)
American. La^omoUve. Co., -.7'hi preferred
:>
(extra)
20C
t$-l%.
■
Pullev -Co.
,
,$i
■
—
12-
;
Co.-,
$3
preferred...___—
t$5y2
(quar.)
&
'
20C
12-20;
1- 1
12-20
$1%
12*20
20c
12-20
Electric
Auto-Lite-
12-15
1-15
Plantation
Ex-Cell-O
Excelsior
Stock
1-
3
Fafnir
class
12-16.
12-16
Fairbanks
$$1%
$$iy2
12-31
12-16
Fairchild
12-22
12-
1-15
$12%c
1-15
$$2
1-
2
12-20
1-
1
12-16
2
.
12-15
1-
12-10
12-
Belt
1-
2
1-
2
Federal
12-10
12-
1
1-
1-
12-15.*
12* 9*
•.
2
'
(quar.)_____
1-
2
2
12-10
12-10
Stores,
1-
2
12-20
-$1
1-
~
2
General
12-20
12-30
12-22
25c V
12-20
50c
"*
(quar)
12*24
12-
$iy2
1-
12-17*
2
.-•>•.■$5C
•:
12-11
1
••••
$1
z
12* 1
12-22*
12-15
12-1
25c
11-15
•
$1.10
12-15
$134
__—
;
v-
12-22
12-19
v
$1%
:
11-25
11-25
12* 9
>
42-:1
12-
12-19
9-
32-
-
9
_____
5c
12-20
12-10"
15c
'_
12-20
12-10
12-23
12-
9^
12-17:
12-11
1-
$2
4-1
62V2c
$3
3c
12-15
12-
shares,
Kleiser
stock
insurance
Corp.
series..
3 9/1 Oc
(quar.)
Co.
of
Canada,
i
(quar.)
$25c
12-15-
5°c
12-10
12-5
(year-end)——33c
12-22
12-10
(quar.)
com,
25c
-*—^25c
«i
Transportation
12-15
12-15
.
$l'/2
_____
(quar.)
i-2 I
V$i»/c,
-/;■ 74(5
1- 2
$1»A
12-22
V
'
12-22
.
$1%
-
:-l-
•
$1,..
/... $13/4
•$114
2
-
2-
12-24
1•
2,
1-
2
/
<-;•
12-29
Instruments
preferred
Corp.,
1- 2
12-23
12-16
$1V2
1-2
,12-16
$.l>/4
17-23
50c
12-23
;
12-20-
1-2
12-12-
1-
12-12
■;■
---
.
12-32,
12-1912-12
J2-P0"
12-20
(interim)
Globe. Knitting
Olobe.-Wernicke
7^
2
17-26
12-24
12-
12-15
11-29
12-15
11-29
12-16
3 2-
12-23
12-9
56V4c
(quar.)
Qoldhlatt Bros.. Inc.. $2.50 conv. pfd. (quar )
Golden State Co., Ltd. (quar.) ___;
/
i"c
•
1-
2
12-15
$)3/4
1-2
621-2
20c
1-15
-
12-10-
50c
7
/
pref,
2-
2^c
_______
(quar.)
Works
Co,,
12-20
,,
12-15
25c
Ca.__—1
preferred
2
12-15-
5%
(quar.)
Z
Co.,.common
12-
12-31
.Stock
conv.
12-8
$l>/a
6% pref. (quar.)
Girdler
Machine
12-15-
1-2
8
Glidden
•
Sl1^
12-
Oisholt
12-19
12-27
12-30/
common
12-15
12-26
12*16>
-r0-,
common...
12-20
dividend
12-15 :
1-24
V" S3
Corp.f
1-2
12-29
20c
:
General Tire & Rubber Co.,
v
12-15-
67c
^
-
1-20
12-22
(quar.H_50c
(quar.)
2
35c
:__
—
2-
$l5/4
Printing
(year-end)
"(N. Y.)
1*10
12-12
Sl'/a
—
Refractories
•
12-12
1-20
25c
—
32-12
5
12-23
75c
Electric
General Reinsurance Corp.
•.
12*. 5*
25c
Ink. common.......—*
$6 preferred
(quar.)
General Public Utilities, Inc., $5 pref.(quar.)
12-15-
12-23
30c
(quar/
-
1-
*
$1
•
*
-
12-23
•
50c
—_—:
12-26-
/
50c
Electric,; com. (quar.)
25c
preferred (quar.)
~
75c
Oiddings ■& Lewis- Mach. Tool (year-end).: /, 50c
Gillette Safety Razor Co., $5 pref. (quar.)__
$1V4
Common
(year-end)
30c
11-15-
.
-12'
1
Corp,
(quar.)—
Co. (year-end)
pref. (quar.)
General Paint Corp., $2.67 preferred (quar.)
■$6
12-31
12-
/
Time
//1-20
12-30
_*—
>
8
12-15
Gas
preferred
General
'12-12
1- 2 / 12-15
1-20 / 12-31
lie
Acceptance Corp,,
(quar.).
12-24
/ $1
u_
^American
12-
$25c
4
Ltd./..—
Investors
12-15
12-23
24»/2c
Ltd.
12-31
37V2C:y.
'
Co.
12-3
35c
Co.,* common
Petroleum,
12-15
■
3
50c
...
General Industries Co., 5%
General
3-31
Inc., benef. shrs., bank stk. ser.
preferred (quar.)__
General Amer.* Investors Co., Inc. (year-end)
$6
12-10
12-31
12-20
convertible
General
'
11-30
2
1-
General Water, Gas &
11-28
(s-a)_.i__L_
•.B:(quftK)yiuJ_^_————
$1
$2
I
12-11
(year-end)
General
<
Y.)_
(quar.)..
Extra
v
$2-v" •:.12* .1
■
1-16
11-30
12-15
-
12-20
2
Gardner-Denver Co., oommon
"
12-30
t50c
1-26
1- 2
J—
General
3
12-15
A
Class A
"
1-16
12-31
Fundamental
12-29
1-26
$1%
Fresnillo Co.
12-20
11-15
$2
(Chic.)
Frankforfr Kentucky Natural
75c
-
12-23
11-22
2V2c
Inc.. (quar.)
12-15
10c*
'
,
11-29
2
12-
$1.183/4
Rochelle, N.
12-13
•
1-
(quar.).
Insulation
Star
12-10
12-10
25c
(Pittsburgh)
12-15
1-2
■
(New
•Extra
Four
12-10
50c
common
Pawners Society
Foundation
12-18
12-10
$l'/4
.
Bank
Machinery
A
12-10
5c
National
fclass
12-10
12-18
t$5V4
...
(Baltimore)
a
State
Beneficial
12-10
1-
10c
-■-
(year-end)
Go lonia 1 :Ioe>Coivy$7';-preferredv (quar. I.
y; •« $6. preferred
pref.
12-19
>12-20
2%
Co..
Bank
First
12-10
1-2
$4c:-
____—
•/ /Onm»ion.y
*
7%
•
National
Formica
$1
10c
c—
(quar.)
Pennsylvania (quar.)
Fund, Inc. (quar.)..
of
Ind.
First
12-10
1-
ile
(^icfeg6/ro"Wei/c6;f(-g
Clae.tt Peabody;.& ,Coy-7-%-pref.
.
12-15/12* 9v •-';,
Sons
National
12-17
t.
(vear-end)
Additional
12-20
2
Co.
preferred
Co.
First
12-16
2
12-20
$iy2
■<
__i
—
12-13
25c
v.
com.,
Corp,*
iWm.l
First
5
12-16
12-31
$1%
.
(irregular)
12-27
25c
(resumed);__;yujyl.
Co., Inc.,
Coach
Petroleum
Food
Z":-. n
12-24
J.)
Avenue
(Year-end)
•
O'evelarid guilders SuDply. Co.
/,
(John
'.4% 7e
12-19
1-
$1
!
Co.
$25c
.•—4—I--—
•_
Finance
conv.
"
Clark:CoiitrQller. Co.- (year-end)
Co.
Publications, Inc.,
Fiscal Fund,
Climax-Molybdenum " Co; : (quar.)____
'
Motor Truck
Financial
Y.)
(ouar.)
12-12
12-15,
"56"
4
12-21
$iy2
.Co;}i common
12-22
12-11
12-4
$$2-
-Co/Xyear-^pd.)^
Tool
4
75c
(year-end)
12-20
11-29
12-20
37c'
(quar.)
Extra v
--n_-yy—.—--_
Chicago Mail1 Order Co/:(veai-*end)
Corp.
6,
25c
Felin
11*29
12-
+50c
—^
f.
4
1212-
12-11*
'Extra
1
12-20
62y2c,
V/T/C.
12-
12-17
1
Filene's
—
'Co/lCincinnati)
12-17
12-27
1-
12-15
12-30
35c
—.—i__
West-Co./cOm-;
*
12-31
12-31
12-20
Foster
Co.,'(year-end)
$1
,
2
50c
(special)
Fidelity & Guaranty Fire Corp.
(s-a)_
(quar.)
1-
75c
Fifth
___
Mines, Ltd.
*1-2
2;
50c
.
Extra
Central
Aviation
Federated
preferred (quar,).
Patricia Gold
12-12
$2M>
Co.
—
$50c
50c
'preferred
(quar.)
&
Players Canadian Corp. (quar.)
(year-end)
Light & Traction .(year-end)
Quarterly
Federal Mining & Smelting Co.
12-31
-
(quar.
12-11
$2
common......
•
Morse
12-
12-24
$$1.52
(Toronto)
Famous
(Hart¬
$1.50
Co.
^
12-12
12-15
12-22
65c
payable in
12-22
■
Federal
A
$31/2
Corp.,
Extra
6;
12-10
Faultless Rubber Co.
CltiKens-Wholfesale;SU{mivvCo/>6'/('Pref.(quar.)
6,.
12-11
8
'>
75c'
12-
12-10
,
50c
__________
Bearing
12-31
$50c
(N.
Corp.
.
$2'/2
....
/
(year-end)
(year-endi_
Life Insurance Co.
12-31
$1%
Co.
Co,.___4_.-_._—/___
Co.
dividends
J25c
(quar.)__
—
Ewa
pref.
(quar.)..
preferred
(year-end)
Empire Star Mines Co., Ltd.
.
16c
12-12
1-1
Common
12-15
12-10
12-22
12-15
2
12-12
12-31;
$2y4
Co.. (year-end)______
11-21
1-
2/
1-
12-12
3c
$1V4
Watch
2
12-27
1
11-25*
$1
common
Egry Register Co./5y2.%
8
12-10
partic../class A MQuat.)
12-10
5
8;
12-13
50c
11-27
75c
$1
,
(ordinary shares)—
12-
12-
1-2
3-13
12-
River,
National
6'k
;
12-11.
12*18
(Clears all arrears)
Corp./ Ltd.
Elgin
1-
Fall
___^
12-15
12-23,
60c
—$3
(B.
12-20
10c
Trust
(extra)
M.. C.),
(quar.):; y_i—.;__v
■
Savings Co,
•Clearfield: A-Mahon-ing; Rv.
y
12-23
Trust-Co.-
Accumulated
1-15
12-11
1-2
4-11,
12-23
$$iy2
:
Citiysem'sk/^/♦sMjp-nufai^tjjdpiersNational Bank
12-12
•
American Service
2-
•'$1.12
12-20.
1/ 2-
2
1-
'
12-12
1,
12-15
12-26
.
/75C
2-
40c
12-29
12*15;
12-15;
>
$2
Ecuadorian
-
partic.
30c
Elder Manufacturing Co.,
$iy4
12-20
/'!-y•"/'
Eastern Malleable Iron Co.((year-end)___.
Eastern Steamship Lines, Inc., $2 conv. pref.
12-10
12-20
50c
pref.
■;f.
Amcicnn
1.-
v
11-29
12-19.
12-20
.
; Mass.
12-10
12-31
12-31: :
11*28
$2
11-29
1
12-10
J50c
12-15 '
:
1-20
(quar.)_____/
12-10
1-
12-15
12-22
.
(quar.j^—
Durfee
12-10
50c
common
12-20
12-20
12*13
12-10.
12-22
preferred
2
/Chiie'-'Copper/Cp^/Z/Z/Z--------:-----—'
-
25c
y :50c
Corp.,
12-22
preferred
6%
1-
1
/' ;-^6^ ♦"•conyertibie/proferred/'quar.):
12.-812-5,'.
12-15
v-i/
'
Chiksan
12-15/
m 12-15
Duplan
3/
162 y2c
:
—
Duquense Brewing Co.
...
'
American., Optical
12-31
11-29
'Cinc-iiinati'«(•:B«b"br^<(Rail/T,«l- Co.- (ouar.).pitijtehJS Coni/iTrust:%: Savings..Bank. (Pasar.
4/,/deriay,
i-.
Capital Corp.,/ $3 preferred—/--- y ;tl5C
4oc
American. Chain & C-ble Coy (year-end) _/.l'
'y 50c
American Factors, Ltd. (year-end)
American.
1-15
12-15
(interim)'
12-20
■.
•
12-22 /'
1-15
.
/
12-; 5*/ V
3-16/
'
Common
t50c
—_
Chlcago" MiR■ i---L'umber" Co/ (year-end)
'
1
12-22
$1.06 y4
(quarJ——
Alliance Insurance Co/(quarj—1
j
12-12
1^-22
4-
5 '
12-13-
12-15
Mfg. Co.
(irregular!
50c/
12-16
1-
25c
Manufacturing Co.
Dunlop Tire & Rubber Goods Co., Ltd.—
5% 1st preference (s-a) •
■
12-10
;
r
/
5"
1-24
$50c
2
ChicagfT jCorp^, $3 .pfeferr e d
Chicago. Dhck':& :'Cartalv:,^q.4tQuar,)____^:—_..
V
.
12-24
/
1-
12*20
-
Ltd.
Electric
8,
/_
1-20
75c
•
Duncan
12-10 /
25c
(quar.»
-
1-
(s-a)
&
12-10
12*
40c
Cement.(year-end)
$62'/2C
(quar.)
Power Co.—
-
Products
Motor.Car
Mines,
,8%
Chemung Canal ..T-tustkCo/Elraira .N. Y.) (s-a)
•/ChesterviUe.-Larder ;XAke' Gold Mining Co.__
12*50
•
#2.v■■ 12-27
i y$4.25 convertiblfe preferred
American
1-
12J0
12-15
$3V2
12-20
y2cy
12-20
:
12-15
(s-a)——.—
'"'Chfipmani'Valye'Mfgycommon
12-12
12-15
L
'/ Common
.
2
2
(quar.jk/k-
Extra
Dome
12-29
50C
Maine
Ltd.
2
Century Electric Go.-li/C///-/--—
•y' $4'/2
Ltd.______.c./..j—_
Equipment Co.
(vear-end)_±y_.-_J
Allied
Mills, y Inc.- iirregular)
•-./T Alligator Coiv>vear-end) y
■
1
2 v-12-12
y -2->?.
1-2
Mines;
12-31
50c
Securities
preferred
CentraF-Trhst
■ i
11-29
$1.42
i'Allied. Chemical-& Dve
-
11-29
iy*1' 2 Vat y. 12-20
&
Electric
7 r,Extra
RR.
1-
.1-
y -si'/ft:
(ouar.l——r~—
& Power Co.
$1%
12*30
;
1-
-'$5 div, series'-'preferred
Chain
.'v'
(quar.)——Y__-V
(qua r. J
Alaska Mining
2
$iy»
preferred
preferred
;'1
!
2
1-
•
'r $7
•y: $6
•
I -/l-
20c
.fquar,l,_-_^-/'4—
—
t3c
(quar.)
Diamond T
25c
Bank
Central States" Edison
n-29;
•
'
Central
(
11-29-,
$1 y J--2,
.
y 12-20
Co.
Detroit Steel
•
$6 diV, 'series
■
••
y.V- $i
15c
Electric
Diamond Portland
'
12-12-
:
1-^-—-----—--
12-15
12-20
.
12-15
20c
■
7%
'
11*29:
12-23
,;,30c
i?a&Co •' 12-20y
Loan
12-12
12-15
preferred..
(s-a)
6
...
preferred
12* 4
85C
Vac/ 12-15
$1%
(quar.)
Central-Illinois
*
Aetna
Hanoyer
of Rec
12-24
25c
'
•
_
Canada
12-26
1-2
Co.
5
—i._—
Central
Holderi
Pay'ble
y
r
y'•
>'■>
;
5
50c
partic. preferred
12-12.
$1
common
second
RR.
5
Co,
Central
12-13)
12-26
12-15;
12-
—
:-7%' prior-preferred
*
y
(year-end)__-L—.1——
(vear-end)^y'/-__-__—_
Express Co.
Advance
/
Co.
.
,
40c
V
12-
87»/2c
Products/Ltd., 5% pref.
Corp. -of America,: common
11-24
12-24
15c
12-22
12-
(quar.)
Catelli-Food
Celanese
>
When
Share
^
(quar.)
y_u_L—
Wire
Acme
Adams
are:
!Per
of Company
Name
12-10
25c
y4'- '4
The dividends announced this week
12-22
12-20
for 1st
Transit
12-20
12-20'
12-22
Delnlte
12-20
Sl'/a
Co.
2,
1-2
11-28
12-22
$12 %C
/■■Extra Js-a/
Capital
der the company name in our "General Corporation and
Investment News Department" in the week when de*
clared. :■/ y
yy;v 4: ~y ■
/ •//
1
75c
(Ont.) (quar.)
& .Trust
1-
12*12 y
Deposited Bank Shares, series B-l
4%c
Detroit Gasket.& Mfg. €0.
—25c
Detroit International Bridge Co. (resumed).
25c
1
t$2V2
Bank
12-12
/ 12-16'
15c
12-
—___1_
ford)/ (s-a)
in
show the dividends previously announced, but
which have not yet been paidi Further details and record
of past dividend payments in many cases are given un¬
we
■:
12-
40c
(quar.
National
Supply,
12-10
Co." (year-end) —
quarter and 25c. for
current quarter of fiscal year).——
grouped in two separate tables.
In the
bring together all the dividends announced the
Then
1-
Products
(10c.
2
12-22 /
t$lYa
;_ry'■-
•
Coy 5%
$$4
Ltd.,
preferred...—
(quar.)__.^
(Louis)
87 y2c
(accum.
City"
Capital
are
current week.
.
12-15
•
$iy2
icpmul.)'
(irreg.)
■
Photo
preferred
Delta
J15c
Boxes,
1-
75c
$2'/2
r$6
12-15
$iy4
Wireboimd
1
$l>/2
1
12-15
Cannon' Mills -Co.,
DIVIDENDS
we
Defender
'
12-31
25C
shares
Canadian;
qua!*;),
first
12-12
13c
Registered shares-/(quar.
Canadian Oil Cos., Ltd;/8% pref. (quar.)__
Canadian Westinghouse Co., Ltd. (quar.)
1
'V.
Dividends
12-12
(Stratford,
common
12-10
12-12;
1-
20c
____
$3%
partic.
Bearer
Coke
1959.__u>.—
2
62
(quar.)
Celanese,-Ltd.,
12-20
12-27
20c
20c
(quar.)
*
preferred '(quar.)
Canada Foundries. & Forging, Ltd., class A__
Canadian Gen'l Investments/ Ltd.
(quar.)—
967
Dec
Consolidated
7'»
1272
.—Jan
debentures
1-
Extra
t50c
—
Iron
12-12 /
$iy2'
Ltd/ "57'/'
25c
___________
Records
Delaware
/___
(quar.)/;.;.
Bakeries,
-(interim)
1194
{Hlram) Walker-Gooderham & Works Ltd. 10-yr. 4Vis
/k/cs;due 1945
wi...————Dec9
&
2
40c
Campbell/A S:)
.Sun Realty Co.-Barker Bros. Bldg. 1st mtge. 6s of 1927—Dec 15
Superior Oil Co. of Calif. 3'/*% debentures, due 1950—Dec 22
Coal
1-
r$l
(final).:
Ry.
7%.
3:
60c
•>
Decca
;
Co.
1-15.
(year-end)
A;)
$37l/2C
Mills, (quar.
Camden & Burlington
12-3.
2-14
(quar.)
Extra
V>
Youngstown Sheet & Tube
12-15
12-15
:
■.
Virginia
.
(L.
12-31
(year-end)
Burlingtoh Steel, Ltd.
12-31
convertible
Darling
12-15
12-15
t75c
12* 4"
11-28
i
12-15
2
12-
11* 7?";
'
2
1-
preferred (quar.;/$l%
Co. .(year-end)
15c
Davega Stores.Corp., 5% conv. pref. (quar.)
/ 3iy4o
25c
preferred
Sugar,
Y.)
(N.
"
Calhoun
1
Light &t Pwr. 1st mtge. bonds, due I960--Dec 31
Standard
Bleachery & Printing Co.
15-year
5Va%
bonds, due 1946.^.^. J-wiii,—w—.—
.—'——Jan
1
"Western New York Water Co. 1st mtge. 5s
?5ya%
1*
1-2
12-31
(irreg.)/,'
&.Paper Co.(quar.)
Co.
Central Petroleum
62»/2C
Burd Piston Ring! Co. * (quar.)"
Burlington Mills Corp. /(extra)
964
Southwestern
ji;w
'
Tr.
Cuban-American
5 -:
12-
Buffalo Niagara & Eastern "Power Corp.—
Shawinigan Water <fr Power Co. 3V2'/« notes, due 1946..Dec 30
of Charity of Cincinnati, Ohio, 1st and refund-
; <
12-20
12-12
(year-
'■/$5; preferred- CqdafJ' ■//_.: ii_i'
./64y#; pref erred- 3 quar.) f.- r_l fz
Bulolo Gold Dredging,'Ltd/Ts-a)
■•547
1
.Jan
2
1-
12-10
Pwr.
.
12-13 y
J50c
Cooper-Bessemer Corp., $3 prior pref. (quar.)
45C
Sharpe'Mfg> Co." (quar.)
Common
& Machine Co.
Water
Bank &
v.
"1-15
12'/jc
Crown
$iy2
:"3'/2'7e;
/.
t; Sisters
••i^'V-ing mortgage bonds, due 1949
&
Wagon
90c
$1
..
11-29
Dejonge
—
Co.
12-19
,: y
Corp. .(quar.)_
11-29
&V/4 /■'4iy2
IPc.; class A (s-aj
'Trust
Oil
Consolidated
-
2-2
25c
t—;
12-15
50c
Brown-Forman Distillers: Corp., $6 pref.
963
1
Feb
—
12-26
11-29;
■
1304
bonds, due
Salmon River Power Co.' 1st mtge. 5s
Corp.
Extra
Consolidated
12-17
50c < :f:v 1*2
1
i(year-end)
Bruce;(E.'t.I. Cd:/^%" preferred
1057
1/.
12-27
12-15
v!:'/•',
Mining & Smelting (Can.) (s-a)
Consolidated
•
'
1270
8
Ruud
.
(an
5>
$iy8
Continental
.
■Extra
.Dee. 23
_i.
5>
12-
-
50c
!
12*10:
$iy2
..
/yr.-fi/lyy-i
Extra
Brown
1057
12-
t
_/
$1
(s-a).v-/-k:y/-.;/:/-i/y-_-_
■
Pocahontas Fuel Co., Inc., 50-year 5% bonds....
Portland General Electric Co. 1st mtge, bond—
12-10
"
10c
BrockVille Trust Sc Savings Co.
869
Philadelphia -Transportation. Co. .3*6% vbonds—15
Phillips Electrical Works, Ltd., 1st mtge. 15-year 5s,
;
/ •:
12-20
J50C
Brass
Ont f
.
.
"
12-15
y/;;
$iy2
/
British; Mortgage; &
1057
12
Phelps Dodge Corp..3:%%.debentures, due 1952Z_**,*.;:_*l)ee 15
.
-
■
12*10 :
1
Cprp.^year-eiidlu.—£
Bristol
ft
1056
debentures———Dec
Consolidated
12-10 "
v
12-22'
(Quar.)_______/
convertible preferred
Breeze
1150
:V
12-15
A
12-22
40c
Co.
:
•
12-10 ' /
12-22
15C. :
Decker^Mfg.;(irregular)—
: (quar)
1
5
25c
$2
class
15c
Bridgeport ,Gas.- Light Co. (quar.)
1150
/ Briggs Manufacturing. Co.^_y£.Z_
1192
British Columbia Power Corp., Ltd., class A
1267
debentures, due 1959—Z——.Dec 31
12-
;
10c
'
&
7%
•
»i
North Western Refrigerator Line Co.. first lien; ctfs.iZ—Dec 15
.
/ /. 50c
:
Bandtjen & Kluge, Inc.—
»•
*"
prior
North American Co. 4%
;
v
5
'
Malleable :'Industries
Bound Brbok: Water
752
-Nice.Ball Bearing Co. lst.mortgage 5s; due 1945—li_..Dec 15
National Supply Co. 1st mtge. 3%s
——Dec 15
Neisner Brothers Realty, Inc., 6% debs., due 1948 •
Dec 22
j,/ New York, Chic. 6i St. Louis RR. 4% notes, due 1946—Dec 19
12-10*
11-28.
12-15
(year-end)
Light & Power
"•>/'" 25C
Extra-'y_l_j;_y^_'/*--^---Z
fV960
.
.
Harbor
/ Blue Diamond Corp. Bondholders Management,-
-
1-1
12-15
62«/2c
*__/
(quar.).
«
25c
Corp.
Electric.
(Baltimore)
9
12-10 v
15c
(quar.)
;4y2'y preferred B (quar.)
•!'4% preferred C (quar.)
Co.
t
9
12-
1*1
37>/2c
Consolidated *Gas,
.
12-
$1.06>/4
/
(quar.)
<
Consolidated'Coppermines
12-
$1
Manufa^ttirihg^o?'
Black
Michigan Public Service Co. 1st mtge. bonds, series A—Dec
1
/,/ Mississippi: Power Co." 5%. bonds, due 1955.-1—.——Mar■•- 1
Narragansett Electric Co. 1st mortgage 3 l/t %y bonds,
/■•;> series A, due ; 19661—
Jan
1
12-29
Ltd.__;_______
Cq.,
12-10
kend)/
Bibb"
..
$1.06Va
Industries,
/.Common
"■(^Uar]ir/£/£:/i/l
preferred
Benton
/'-t-:/\':;;i^.6y2S7-'Of,,,.1928^-^i-li^ii_l.'-..'.'-—Lw. Jah/.'IO /
Mercantile Properties,. Inc., 516% bond6, due 1946——Jan' -!-•
-
12-29
Corp.. (year-end)
Chemical
11*20" ?
>?( year-end) y/'/Jl./'i— __.-x
y82.50 plflprJprefv; <SBfies-1938'fquar.)__/__
1265
7
/
(Del.)
1149
-
12-15
12-17
ExWa:Cir
$5
1192
1
—Jan
Amusement
-Consolidated
-
12-10 '
•
*J;
1302
15
75c
(quar.)
Consolidated
Hi
12-10
12-15
preferred
Aircraft
12-1
Common
<
.-$2.50 conv.
:A 20c
(Hartford)
959
1.
.
12-10
(re-'.y-7.y: /\
(quar.)
Consolidated
r
12* B:
BarcalO,/NHg.'.Coi.,:."$3.30 prior pref.
t$2.47»/a'
Basic Refractories,-.-iricV—fyear-end i
:
20c
Beatrice Creaihery Co.'."common (quar.)____
25c
959
,
.12-20
,75c
12-20
Bankers,Cpmmerqial/Corp.,t6"/fl pref. (qUar.)
rCommoh,- extra»//_>._J
w__Bankers Trust Co.: (N. Yk)' (quar.)______l__
1191 y
vIroij- Co. .lst. mtge/'5sr—
*^
:;
5
12-26
••
1262
1
Ian
;
12-15
/
Trust,. :conv.
preferred
conv.
*
Extra' '"Ly
/Babcock & WUcox Co. jyear-end)
k- BaldwiiL Co,,,:;^/^ .preferred -(quar.)__j
540
.-
Illinois Consolidated Telephone Co. 4V4%
Jefferson & C)learfield. Coal i{
12-
12*10°
12-18
,
1262
4%Y"
;*/>■;
«
1-15
2
$2
(quar.)
Community Power & Light Co<
Compo Shoe Machinery, common
2-
12-20
2
1-
Commonwealth Life Insurance Co.(Louisville)
*•
of Rev.
2-
(initial)__
12-
9
Holder•
,
(quar.)
investment
When
$i»/a
$iy2
quar.j
15 c
"
/A-Viation ■rCorp.y(resa)jied)
Axelson>Mtfnufactdringl'Co. ,(quar.)
,/'/ZExtra ,/i
906
Co., Inc., 7% preferred stock-—Jan
Dewey &, Almy Chemical Co. conv/preferred stock_-—_Dec 15 j
Eastern Racing Association, Inc., 5% debentures, due
*?■ May 1,1945--^__,-/L-„—.-/-Dec 15
•jr-'t Equity Corp. 5'fr-. debentures——.Feb
1 ft/.
Equity Corp.-Amer., British & Cont. debs., due 1953J_Fel)'
1
Federal Light & Traction Co. 6%. bonds, due 1954_^_4un >1
Georgia-Carolina Power Co. 1st mortgage 5s, due 1952—Jan
1
7
Gillette-Safety Razor Co. preference stock..*
Dec 16
■•■'; ./v; Gulf, Mobile & Ohio RR. G. M. & N. RR.
3% notes. Jan
1
2-
preferred
conv,
iduced
;•:
i
Share r Pay'ble
'
Co.—
12-16r
J7»/2C '/ 12-22
1052
.'4V4%
9f
'
common
t$iy2
C0./.6'7o preferred.'
Z—l
,(quar.'r//Yy/iYr_i2://_:__::
'
Devoe. &* Reynolds
12-
-
1-1
; ;
Electric
preferred. (quar.)____£_^^________:_- /
Commercial*
.
9
$1.10
.-'956
.
•
12-
12-19'•
•y.
•"/-$1%
_______
•k 861
;• .'
:
Me'taVProduct£ll^/i^_Jl^__'___/.___i____
Automobife Insurance'Co.
/
;il89
v
!
25c
12-12
Ohio
Commercial Credit Co.,
'
Perv
j-
j
Southern
Co,/Inc.
11-28 '
12-15 (
$l'/4
"
'
Atlas Press cd/
95*
?
12-11
&
'6% preferred (quar.)___.'r
Combustion Engineering
12-11; ■;
1-2"
:
6Va%
12-11 '
Co:
&
Atlantic
1189
bonds -ot 1925^—-Jan. 15
6y2%
Ltd.,
2 '
8 '
$1%
1258
'
-
"
Art. Metal Constructibn:'Co.''rfyear-end)_'____
•1258
t
.
25c
1145
///•-/%. Autocar Co. 1st mortgage 7s, due 4947—L.*——-x.Muy
1
Autocar Co.debentures, due. 1947-1-a-—'
ZP«c 26
y.1-
8
'
;
^745<
2
;iDe1. )',y7r/c preK- (quar.) _//./
$1% ■r-t 1- 2
Armour &• <5o".'/fill.)y$6 cbpV.
prior pref
.:'"!*t$l Va
Arnold PrVnt/W6tk$7Pomihdh
(year-end).2
$1
12-27
'•
syz/preferre'd' 1s*a;^/i/ri''li':______..____
75c '/■':■■; 1- 1
W85T
Armour <fc Co. of Del. 7%.
..preferred/Stock*-——Jan
1
//Atlantic City Sewerage Co. 1st .mtge, 6s, due 1956——Jan 17
/_//.. 1.
preierred: (quar.")y//::yi//_/
Armour
•
1
2
Armour &. Co. jof .Dei/lst; mortgage 4s, - due 1957_____Jan v-i ;
f
,
--1-
$1V2 /■
.
""
conY. (ptett: 1 quar.)
Applied Alts Corp.://'yr__Y/r______
.-
«.
40c
/
12-27
Works & Elecr,v$6 pref.
$1% >lV!l- 2
(quar;)
Anqfeonda' Copper " Mining C0Z7 year-end J
/ 12-22
-;•■;■ --$1
Anchor Hbcking 'Glaas Corp'./.cOm
(year-end) r60c :i 12-15
•
l
commoh.'/_4--i------------
Columbus
12-
-
'
;
v;//yy.>/ v/>'Nfl'«e.,o/ Company
0/ Rec.
12-
12-27
;y
'Amef.-;Water
.-
+
ort '
y.6'/a:i preferred< (quar.Ji.ii./.,.
? '^Andes': Capper i
Appleton' Co.r 7
-
D_
Special
60c
1367
Holdert
?Wble
f
$13/4 I.;:'
$iy2
Co./common -(reduced;....
Ableritianstamping-
-
-
^^'ie^and^he page number gives the location in which
tails
;
:
J J the details were givfeni«the "Chfonicle."^
Paga
iwiiy.»n4
;l•'v-OPIUpaUJT*....
:£/'/ vw
Z-Efctf ■:
_
Share
.
"American flmeltingf.ifc Refining'com; (yr-end)
'•.••'••*>7% 1st preferred Mjuar.)
//•
/•
; <
..
-
*
Aineriean Shuff
/,.
\.
y.
When
8-
5
12-17
17-
1
12-20
)2-i0
12-31
,
When
Share
of Company
Name
of Rec.
Valley
Grand
Towing, common (year-end)—
preferred (year-end)
:
Co., common (quar.)—
7% preferred (quar.)
—
Greene Cananea Copper Co.
Grey & Bruce Trust & Sav. Co.(Ont.) (quar.)
Non-cum.
Great Western Sugar
Extra
•
1
Extra
;
& Dauch
5%;
preferred
Co.,
Paper
Co.
Humphreys Manufacturing Co.
Stock dividend
(quar.)—
-.
—
preferred
6%
•
Corp.
Mortgage
Erie
&
Huron
-
(quar.)
'Extra
preferred (quar.)
Acceptance, $2
514%
Industrial
&
Mtge.
—;
of Canada, Ltd.,
'.'<7%'preferred (quar.) ——
(Dividend payable in U. S. funds)
v ' 7%
preferred ($5) (quar,)
——
International Paints, Ltd., 5% preferred—
(quar.)
Water Supply,
common
(quar.)
50c
30c
(year-end)
Kalamazoo Vegetable Parchment (year-end)
Kaynee Co., 7% preferred (quar.)
& Kokenge Co.
preferred (s-a)
Kearney & Trecker Corp.
Kekaha Sugar Co., Ltd
6%
Kendall
$1%
25c
75c
75c
25c
25c
(quar.)
Corp., common
.
.
(initial)———
Co.
Keystone Custodian
Special —
80c
50c
$3
Fund, series B-l
—j
Keystone Watch Case (year-end) ——
Kleinert (I. B.) Rubber Co. (irregular!
Knapp-Monarch Co., common
$2.50 preferred (quar.)
$2.70 preferred (quar.)
Laclede Steel (year-end)
—
Lamaque Gold Mines,
30c
50c
6214c
6714c
$1.10
$10c
—
—
—
Ltd. (quar.)
Extra
:
———-
—
.
.
$5c
(year-end) —-—$114
Insurance Corp. (Richmond,
Landers, Frary & Clark
Title
Va,) —
Lawyers
(stock
Common
Class A
~—:
_.
—
preferred (special)
Lehigh & Wilkes-Barre Coal (N. J.) (liqui.)
Lehigh & Wilkes-Barre Corp. (year-end) _—
Leonard Refineries, Inc.
—
Lexington Telephone Co. (quar.) ——
Lexington Union Station, 4% pref. (s-a)—
6 %
Line
M"ter'al
Link
Belt
Co.,
—
50c
50c
Lion Oil Refining Co. (ouar.)—
25c
Little Schuylkill Navigation RR. & Coal Co.
90c
Locke Steel Chain Co. (quar.)_
———
30c
Extra
k
10c
Lockheed Aircraft Corp. (year-end)
$2
Lone St*r Cement Corp. (quar.)
75c
Y6&r-6nd
^4-———w
$1
Louisville Gas & Elec.lKvh, 5% pref.(quar.)
$114
New 5% pra'a-red
("wr.)
3114c
Louisville P"nvisi"n, 8% partic. pref, (s-a)— - V 4c
Louisville Title Mortgage Co. (s-a)
)0c
Extra
<?
15c
Lukens Stenl Co
—' > 20c
Lykens Vallev RR. ** OM Co. (s-a)
40o
Lvon Metal products, Inc.
—_
25c
Common
;
)irregu1ar()
5
1-
2
12-20
1-
2
12-20
12-15
12- 6
12-
8
12-
8
12-20
12-
6
12-24
12-20
Moore
12-20
12-
5
12-20
12-
5
12-
12-20
12-15
2
1-
5
Corp., common
fonar.V
Theatre Co., Ltd., 7%
50c
Stores
MansfHd
———
pfd,
(quar.)
Co.
Ltd.,
Corp.,
t$lV4
(ac¬
——$$134
(N. Y.) (quar.)—_
50c
$2 con*'. p-pferred (ouar.)
___——----50c
Mareav n11 Corn. (<niar.)
25c
Maroon' Internofi Mari"a Comm. Co., Ltd.—
American
receipts
434c
cumulated)
Manufacturers Tr"*t Co.
12-29
12-13
75c
$1(4
12-23
„
1st
12-13
12-23
12-31
12-18
12-12
12-
25c
12-23
12-12
Richardson
12-20
12-10
Riverside &
Dan
preferred (s-a)
6% preferred
Roan Antelope Copper Mines
National
12-20
12-10
12-
1
11-20
12-
1
11-20
1-15
12-31
12-16
1
1-
12-24
12-31
12-24
5%
12-15
2
12-
12-23
8
1-3
1-
2
12-
12-31
12-31
1-
1
5
12-20
12-10
12-27
12-20
12-15
12-
1
12-15
1
11-29
5
12-
12-
12-10
6
12-15
11-30
12-15
11-30
12-19
12-10a
12-23
12-10
12-28
12-19
12-28
12-19
12-28
1-
2
10-18
10-18
12-10
10-18
12-22
12- 8
12-22
12-
8
12-15
12-
5
12-15
32-
1
12-16
12-
5
2-
9
12-27
-
12-12
1
3-16
12-
6-20
St.
5
11-28
75c
12-27
12-13
—
5
6-5
12-23
Co.
50c.
12-12
12-27
'*(4innd C^r>.__
marina midland
Marion-Reserve Power,
r-> i" y.) "m't.)__
$5 pref. (quar.)
10c
30c
<■•■' $114
& Utah
Lake
12-
9
12-
9
1-
Shamrock Oil & Gas Corp., 6%
8
1212-
8
12-
5
12-20
12-
5
Ltd. (interim)
Signal Oil & Gas Co., class A (quar.)
&
Light
Co.,
pref.
$6
Extra
—
Ins. &
t$l%
class A
Co.,
12-
12-20
20c
12-29
12-20
87 '/2C
12-29
12-20
prior preferred (quar.)
preferred, class A (quar.)
Smith (Howard)
Paper Mills, pref.
Smith (T. L.)
12-15
12-
Snap-On Tools Corp.
$20c
1-26
$$l'/2
1-26
12-31
Sonoco
11-25
5%
$l3/4
12-
1
$1(4
1-
2
12-16
$2
1-
2
12-15
1-
,
Products,
12-15
South
La
South
West
10c
12-10
12-
7
$1.20
12-10
12-
7
11-28
11-26
$1
11-28
11-26
50c
12-24
12-
8
50c
12-24
12-
8
Co.—
12-15
12-27
12-12
12-23
12-11
12-23
6%
conv.
Canada
12-31
1-15
12-31
1
11-29
12-20
12-
-
11-29
12-15
1-
2
12-15
1-
2
12-15
Southern New England
1-
2
12-15
Southland
1-
2
12-15
12-J5
20c
5
12-
5
12-23
$1 (4
12-
9
1-
1
12-15
1-
$2
Peoples Nat'l Bank
(quar.)
partic. preferred
_
preferred (quar.)
(s-a)
1
12-
12-23
12-15
12-13
Spartan Mills
2
12-15
2-
2
1-15
Springfield Gas & Elec. Co.. $7 pref. (ciuar.)
Springfield Safe Deposit & Trust Co. (Mass.)
2-
2
2-
16 (4 C
1-15
(quar.)
1-15
12-18
Square D Co., commonv (year-end)
5%:' conv. preferred (quar.)
75c
1-
2
12-15
Squibb (E. R.)
$1
1-
2
12-22
$1
1-
2
12-15
10c
12-
9
6
12-
12-22
12-
$1
6
12-
12-22
(4c
5
75c
12-27
12-11
$2
12-27
12-11
40c
12-29
12-15
25c
,12-27
12-20
(quar.)
& Sons
$5 preferred, series A (quar.)
Standard Bank of South Africa,
terim)
Fruit
Standard
ticipating
&
12-
3*
12-30
12-20
2
12-15
1-15
12-30
1-10
Urregular)—
i
Petroleum Exploration, Inc. (quar.)——
Circle
Co.
Co.
Pfaudler
preferred
12-12
Stromberg-Carlson Tel. Mfg., com
35c
12-15
5
12-5
6(4%
&
preferred
2
12-20
Sun
1-2
12-20
Superheater
12-31
12-15
1-10
12-31
1.31 (4
J-
12-18
Phillips
,nref. (quer.l —
class A, extraCo. (Hartford) (quar.) —
Co.. 5»4%
& Tank Co.,
Packing
2 (4 c
12-
1
50c
1-
2
$1
1-
2
$1(4
is-a)
$2(4
Phillips Pump
Phoenix
Insurance
Pittsburgh Coke & Iron
1- 2
12-12
Pitts.
12-19
12-15
7%
12-1.5
12-15
12-22
12-12
12-23
12-13
$134
1-
2'
17-10
$l3/4
f«ear-end)—
12-12
1
&
11-15
;
50c
1-
6
12-10
—
11-12
Wayne
2
30c
Co
12- 5
Ft.
.
Chicago Ry.
preferred (quar.)
—
Co., com.
'
s
1-15
12- 1
12-31
12-1
12-20
11-25
12-20
1-15
12-20
12-10
12-20
12-15
12-22
12-22
1- 2
12-26
12-
8
12-
8
3- 2
2-20
3- 2
3- 2
2-20
1-15
1-15
12-20
2-16
1-15
$1%
15c
$1V2
$1
$1(4
$1
$2
$4
1-15
12-20
12-15
12-15
1- 2
Co.
(G.),
preferred
common
12-10
12-31
12-15
■
12-18
12-15*
2-20
12-20
1-31
12-20
12-31
12-1
12-
5
12-
5
12-15
12-15
12-31
1-2
1- 2
12-24
12
12-20
2-2
12-20
12-15
12-23
12-13
12-31
12-10
1-15
12-12
12-30
12-17.
1-2
12-20.
l- 2.
12-12
" 12-24
•
12-1
12-15
2-
2
12-20
12-
2
11-29
11-
8
12-
5
1
12-15
12-23
12-13
1-
____________
I-15
50c
5c
12-10
$$2>4
62*40
12-20
12-27
1- 2
12-31
1- 2
12-12
$62(4c
75c
1-2
12-20
12-12
$iOc
(quar.)'
25c
$20c
i__
Teck-Hughes Gold Mines. Ltd. (quar.)
Terminal & Transportation Corp.,
$3
(quar.)
11-25
11-26
50c
(quar.) _l
(year-end)
Taylor Milling Corp.
12-19
12-22
12-15
2-16
$i3fl
25c
$$334
______
Ltd.,
12-19
12-19
sh.' ',.1-30
<quar.)__
(California) (resumed)
(Delaware) (irregular)
Supersllk Hosiery Mills, Ltd., 5% pref. (s-a)
Taggart Corp., $2.50 pref. (quar.)
Tamblvn
ab
50c
(year-end)
Common
12-10
12-15
$134
(resumed)
Superior Oil Co.
-Superior Oil Co.
5%
12-12
t$l(4
$1
31 (4c
•
(quar.)
(quar.)
of Canada
Life Assurance Co.
1-
50c
RR.
8
12-22
12-20
12-26
12-31
12-31
par¬
Coal Co.
Strouss-Hirshberg
50c
Philadelphia, Baltimore & Wash.
Phila. & Trenton RR. Co. (s-a)
6
12-19
12-
$750
50c
Stonega Coke
I
conv.
$3
(quar.)
3-25
12-20
1-
12-
6
12-
75c
3-31
12-15
12-
$150
'
■12-27
25c
(quar.)
Pierce Governor
1-
Corp.,
60c
12-20
1-
Steamship
25c
Perfect
6
12-15
12-15
(in¬
preferred
Stanley Works, common
5% preferred (quar.)
Starrett (L. S.)
Co. (year-end)
Stedman Bros,, Ltd. (quar.)
6%
12-
$1(4
Ltd.
——
25c
Common
12-31
50c
$1%
$1 *4
62(4c
_______
2
12-29
$1(4
12-4
12-15
.;
2
1-
20c
12-15
12-16
.
Products, ctfs. (irreg.)
ctfs. (irregular)
Southwestern Gas & Elec., 5% pref. (quar.)
Southwestern Portland Cement CO; (quar.)
12-29
"
2
Telephone Co.
Service,
1
1-
(quar.)
Royalty Co.
Southwest
8%
8
12-
common
30c
:
of Wash. (Seattle)
Ltd.,
50c
$$1V*:
———
—
Co.,
Southwest Ice & Dairy
$1%
—t-—r—— ■
Peoples Drug Stores, Inc.______
11-26
12-15
Power
12-15
$1(4
.12-18
1-15..,
12-15
,
30c
Original preferred (quar.)
5(4% preferred (quar.)
2
—
.
—
pref.
(quar.)
Southern California Edison Co., Ltd.—
6%
1-1
1- 1
12-20
com.
pref. (quar.)
$1%
12-11
1-15
Extra
Inc.,
Lines,
—_____
non-cum.
1-
%c
Plymouth Mills
(J. C.) Co—
Patchogue
Penney
Greyhound
(quar.)
(quar.)________
Lines
Pipe
$1.65
(quar.)
(quar.)
Water & Power (auar.)—
—
Gumans Cons. Mining Co. (mo.)__
Paracale
Corp.
Street
Penn.
$1.80
(quar.)
——^
$6.60 preferred (quar.)
—
$6 preferred
(quar.)
———_____
$5 preferred
(quar.) —
——
Ohio Forge & Machine (irregular)
—
Oilstocks, Ltd, (s-a) "i__——
———
Omnibus Corp., 8% pref. (quar.)
Ontario Loan & Debenture Co.
(quar.)
Owens-Illinois Glass (year-end)—_________
Pacific Finance Corp. of Calif., common—
8% preferred A (quar.)
6(4% preferred C (quar.) ___—
5 % preferred (quar.) __i__—
Pacific Public Service (quar.)
——
Pacific South'n Investors, Inc., $3 pref. (quar.)
12-18
37(4c
30c
(quar.)
Co.
Salle
Southeastern
6%
$1
12-19
11-29
37(4c
$1(4
50c
50c
pref. A (s-a)
(year-end)
_____—
12-12
preferred
Panama
Oil
Penn
2
50c
conv.
common
Extra
12-22
$$1%
Co.,
preferred (quar.)
South
1-2
12-15
12-10
25c
50c
—
-
Aircraft
Solar
12-31
_
(quar.)
Extra
1
(quar.)_
(year-end)
Co., com., v. t. c.
preferred (quar.)
6%
12-10
10c
5%
12-10
50c
5%
12-31
12-24
$20c
$$1(4
12-15
12-29
1-15
12-10
37(4c
34%c
12-24
12-24
12-22
12-23
12-20
12-24
12 (4c
$1
25c
$1(4
$1(4
$$1(4
$1
15c
25c
Simplex Paper Corp. (irregular)
Sivyer Steel Castings (year-end)
Skenandoa Rayon Corp., common
$2
11-29
$1(4
Simmons
$20c
8*
12-15
$1
12-18
11-29
9
8*
12-
Co.
12-29
12-10
—
—
(quar.)
25c
——
Edison
A
$3
'25c;
5
12-
50c
class
Royalties,
Signal
12-
12-23
12-23
25c
Class B
3
11-29
12-12
$30c
50c
Mines,
$1 (4
———
Brass
12-
1
12-17
(s-a)
pref.
50c
.
Guaranty Co. (Calif.)
Extra
1-
$1%
Sigma
12-12
1- 1
12-15
$3
' 30c
12(4c
Shattuck-Denn Mining Corp.
conv.
12-10
12-12
12-22
$65c
4334c
pref. (s-a)__
1
6%
12-23
12-22
non-
(quar.)
pref.
75c
Laundry, 614%
Title
6%
12-20
-
Power
Jersey
Ltd.,
12-23
1-
1
20c
(quar.)
common
.
15c
(quar.)
Inc.
Idea,
(quar.)
Corp.,
10c
15c
(quar.)
.
12-
50c
20c
(year-end)__
Bank (extra)
pref. (irregular)
Engineering Co., 7%
cumul.
Security
12-15
1
12-20
12-10
$7
i___,
Holding
Securities
12-27
$1.31 V*
(quar.)
preferred
6%
1- 1
12-23
■*': I" 5
RR.—
Securities Acceptance Corp.,
ol2-27
_________
$5.25 1st pref.
.'
Marin°
12-10
12-17
10c
(quar.)
Co.
—
12-15
12-27
i
Salt
1-20
12-16
12-10
37(4c
(resumed)
Common
12-20
2
25c
'
Packer Advertising Corp.
12-12
1-15
'l2-
1-
$$2
12-5
$5
50c
(resumed)
Southern
12-10
12-20
12-11
12-
8
12-15
12-23
3-10
$1(4
Louis
12-10
Ohio
12-10
1
12-18
8
12-
12-10
12 (4c
preferred <quar.)_____
Bank Bldg. & Equipment Corp
Louis Rocky Mountain & Pacific, $5 pref.
5%
12-10
$7
4-
St.
12-20
$7.20 preferred
3-
1
12-20
Ohio
12-15
2
1
12-
9
12-17
1-
12-
12-10
12-
12-20
12-20
12-10
50c
__
$2
■
12-15
12-15
12-10
12-20
75c
^
Extra
$2
(quar.)
9
1-
2
2-
$1
(quar.)
Safeway Stores, Inc.
Seattle First National
Oakland
12-12
2-
50c
1
5
12-19
12-26
8
12-
9
.
12-19
12-10
12-
12-10
1- 1
1- 1
1- 1
12-29
3-31
12-20
$1V2
Extra
12-20
12-22
50c
preferred—
New York City Omnibus Corp.—_—
Newark (Ohio) Telephone Co. (year-end)—_
Newport Industries (year-end) ,—;
North American Aviation, Inc. (year-end) —
North American Finance, class A (quar.) —
Prior preferred (quar.)
7% preferred (quar.) ——________
Northern Central Rv. Co. (s-a)___———
Northern Empire Mines Co., Ltd. (interim).
Northern New York Trust Co. (Watertown)
""(quar.)v;
Northern Ontario Power, Ltd., common—.—
6% preferred (quar.)
___
Northwest Publications, 7% 1st pref. (quar.)
Northwestern Telegraph Co. (s-a) ——
Norwich & Worcester RR., 8% pref. (irreg.)
Nova Scotia Light & Power, Ltd. (quar.)—_
Novadel-Agene Corp. (quar.)
08hu Ry. & Land Co.
(monthly)
—
12-10
2-
12-30
12-17
$1%
$1
7% preferred
Safety Car Heating & Lighting Co., Inc
12-12
1-15
12-
New Method
12-10
1
12-23
20c
(quar.)
(quar.)
12-10
1-
25c
12-17
20c
20c
Extra
12-
;
1
1
2-15
12-10
12-17
New
8
1-
12-
12-19
1
25c
(quar.)
Products
Oil
Extra
12-15
1-1
1-15
2-
$1(4
(quar.)
*
Ryan Consolidated Petroleum (year-end)
Sabin Robbins Paper Co., common (quar,)__
Corp.
D.)
(Geo.
12-17
New
12-15
12-15
12-20
1-
5
12-
30c
10c
(quar.)
Inc.,
Brothers,
Roper
4
12-27
25c
50c
8
12-
12-
2
Extra
12-22
12-15
12-12
12-11
12-
15c
15c
37(4c
(quar.)
Corp
Additional
11-15
12-17
12-15
12-27 '
6
$1%
$1(4
(quar.)
;
Pendleton
&
1st pref
(quar.)
Extra
1
t$6'/4
12-20
5c
Telephone, 6(4%
Rome Cable
12-18
12-
$81 (4c
——
——
Common
12-10
12-22
4
Roos
12-
1- 1
12-15
14c
t37(4c
10c
$1(4 preferred
Markets (quar.)___;
t55c
12-15
12-22
12-
9
1- 2
12-15
(Amer. shares)
____
Common
25c
Nehi Corp.,
12-15
1-
2
12-
12-15
12-31
$3
t$3
(year-end)
12-12
1
Rochester
4
Roeser
12-20
$2'4
7% non-cumulative preferred
Scovill Manufacturing Co.
12-12
1-12
4
12-
12-16
-————
Natomas
3
1-
12-
2
$5
National Screw & Mfg. Co.
2-
1-12
4-
2
$ 1 (4
National Tea. Co., 5% %
2-2
2
12-
11-
11-20
11-29
12-13
3 7 (4 c
2
Extra
12-15
12-10
Mills—
pref.
Neptune Meter Co., class A (year-end)
Class B (year-end)—
3
12-
12-20
Roberts
Public
5
12-
Y.)
—
1-
■*
$1%
(quar.)—
'
:
Robbins & Myers,
12-12
1-
$66 (4 c
V $13/4* ;
Steel Casting (yr.-end)
National Trust Co., Ltd. (Toronto)
(quar.) —
12-20
1-15
12-12
2
1-
(final)
$1 (4
Corp.
Folding Box Co.
National
12-
12-15
1-15
-$l3/4
National Malleable &
8
12-13
25c
preferred
National
12-15
_
Gas
Discount
National
I
12-15
2
1-
'
—_—'
Cylinder
12-15
12-24
1-2
12-20
12-5
50c
2
1-
15c
87 (4c
15c
Year-end *
National
$1%
60c
$l3/4
(N.
Co.
12-24
12-20
___i
River Cotton
12-29
43 %c
12-31
20c
Trust
&
5
12-20
i,"
Bank
5
12-
12-10
1- 2
6%
50c
Fibres, Inc.
(s-a)
National Can Corp. (initial) ——
National Cash Register Co. (quar.)
Corp.
Co.
(quar.)
of Detroit
Bank
Rensselaer
12-
12-23
12-23
12-30
12-24
12- 1
12-15
12-15
12-22
Co.
75c
Reliance Steel
5
12-16
50c
$5.51
•
5c
10c
25c
Co.
60c
National Automotive
5
(111.) (year-end)___
preferred iquar.)______;
7%
12-20
37(4c
(quar.)
(accumulated)
Reliance Mfg.
12-13
50c
—
5
12-
5
12- 1
12-30
11-26
25c
12-13
$55 (4c
preferred
12-
5
12-
12-13
(Bait.)—
Tr. of N. Y.
50c
_
(quar.)
(quar.)
12-22
12-
(quar.)__
1
1-
$2
50c
(quar.)
8
12-
1
12-
12-15
40c
5c
preferred (quar.)
Raymond Concrete Pile Co. (year-end) _____
Reliance Grain Co., Ltd., 6(4% pref. (quar.)
11-25
1
12-22
.____—_
(quar.)_
common
12-
5c
12-31
12-13
12-15 1
8c
25c
8%
1
12-
12-31
12-15
12-29
12-29
1- 2
$8%
Queen City Cotton (final)
Rand's, Inc., common (quar.)
12-20
2
12-31
$2
t25c
$2(4
$$1%
20c
Special
12-20
'
1
12-
12-15
2- 2
1-15 :
V 1-15
$15c
5
11-25
15c
Public National Bank &
50c
_____
—
1-
A
12-
12-23
$$1(4
4 : $75c
—
Class
12-31
>'12-10
37*/4c
______
Investors, Inc
Prudential Personal Finance Corp.
3-20
1
60c
—_————'
pref. A
12-22
.
r",°'erred
1
1-
$1
(payable U. S. funds)
7% pref. B
(payable U. S. funds)
Motors Acceptances Co., 6% pref.
(quar.) —
Mount Vernon-Woodberry Mills, 7% pref.—
Nanaimo-Duncan Utilities, Ltd.—
614% preferred (quar.)
Nashua Mfg. Co., 1st pref. ____
7%
12-11
_
$5
4-
$5
12-20
12-23
60c
$1
■
12-12
12-19
$1
Extra
12-20
1
1-
$1 (4'
Co.
Mfg.
Extra
12-26
'■
Mangel
12-12
$1%
—
______
Montgomery Ward & Co., common
Class A (quar.)
——
12-27
—
v.
12-15
(St.
(quar.)
—
Monongahela West Penn Public Service Co.—
7% preferred (quar.)
—„—
Monroe Auto Equipment (year-end)—__—
Monroe Chemical, $3.50 pref.
(quar.)
5
12-
$1%
preferred (ouar.I——-—*
Match Co. (vear-end)
1-2
preferred
Modine
12-
50c
■--.;
614%
Lion
6-15
25c
50c
(quar.)
common
12-15
12-22
$2^4
(quar.)
Propper-McCallum Hosiery, 5% 1st pref
Proprietary Mines (irregular)
Providence-Washington Ins. Co. (R. I.)
12-15
2
12-15
1
60c
$2
(year-end)
Extra
8
2
20%
$3
S6
$18.92
90c
$3
5c
dividend)
(special)
Class B (special)
11-27
12-15
$1%
$114
$1%
2
1-
of Rec.
*
-
Prudential
(year-end)
(quar.)——______———
$2 non-cum. dividend shares (year-end) —
Millers Falls Co. (year-end)
—
Minnesota Mining & Mfg. Co. (interim.)
Mississippi
Valley Trust Co.
(St. Louis),
8%
12-15
$1(4
1214c
preferred A (quar.) ___———
Jefferson Lake Sulphur — _v
_
Jersey Central Power & Light Co.—
7% preferred
(quar.)6%
preferred • (quar.)—*
514% preferred (quar.)-——
1-
25C
Co.
Extra
8
35c
Inc. —
Products Co.; com.
Midland Steel
'■•I:.y.
25c
50c
————————
(James R.)
11-27
12-27
12-
75c
Refineries,
Mid-West
11-26
1
1-
25c
•? $5
Kearney
2
8%c
———
12-31
(s-a)
Water
Middlesex
7-
$$1
$25c
45c
$114
15c
1-15
12-15
Corp.
(quar.)
_•
(quar.)
Louis)
Extra
————
Irving Air Chute Co., Inc.,
Julian
4
$134
International Shoe Co. (quar.)
———
Interstate Telephone, $6 preferred (quar.)—
Investors Fund "C," Inc. (year-end)--
Jamaica
4
12-
Co.
Accumulated
Extra
12-
12-24
3c
50c
$1.40
(increased quar.)
$$1 (4
pref.
(quar.)___
& Co.
preferred
Extra
Year-end r
.
12-20
1-
;
Nickel
5
12-12
Ont.)
——
International Harvester Co.
International
12-
2
12- 5
25c
12-10
11-28
(Albany) (quar.)
Merchants & Miners Transports (resumed)
Mickelberry's Food Products Co.—
$2.40 preferred (quar.)___——
Midco Oil Corp. (year-end)
—
12-31
Consolidated Copper —
Institutional Sec., Ltd, (Bank group shrs.)—
12-20
(year-end)
Extra
Inspiration
Class A
9
12-15
$114
12-10
75C
6%
Ltd.,
—
Common
u-1-1
class A
non-cum.
(quar.) __—
Trust (Sarnia,
preferred
conv.
12-
12-
12-10
12-15
Merchants & Farmers Bank
1-
40c
$1.3114
„_—
_—_——
Industrial
5%
4
12-
10c
,
Indianapolis Power & Light, common
:
8
12-
12-18
35c
75c
1214c
Special
12-15
12-20
12-15
12-10
(resumed)—______
Co.,
(extra.)
Mercantile National Bank & Trust
12-18
35c
Imperial Paper & Color Corp.
Imperial Varnish & Color Co
77»
12-
■"v
Oil
Corp
Johnson
Melville Shoe
12-22
t$l
—-
(quar.)
Ideal Cement Co.
12-15
12-15
$114
•_
(Ontario)
(quar.)
12-15
2
12-23
75c
37 (4c
50c
30c
50%
—
2
12-17
$114
—-
12-15
12-1
1
25c
12-10
1-
1
12-
$1%
2
2
12-18
50c
—
(monthly)——
Mining Co.
Manufacturing
Hoskins
common
Mead
Steel
12-
-
,
Development, Ltd. (s-a.).:.
Pocahontas Fuel Co,___,___^__^—
Pollock's, Inc., 6% preferred (quar.)_i«_
Power Corp. of Canada, com.
(interim)
6%' 1st preferred (quar.)
6% non-cum. partic, preferred (quar.)
Prentice (G. E.) Mfg. Co. (year-end)
Pressed Steel Car Co., 5% first preferred
5% second preferred
—_____________
Price Bros. & Co., Ltd., bVi'A pref. (quar.)_
Progress Laundry, common (quar.)
5
15c
_________
McLouth
12-23
50c
10c
(quar.)
(quar.)
12-15
2
12-31
$1%
31(4c
*—_
Co., class A, extra
Hobart Mfg.
Homestake
McColl-Frontenac
1
20c
Hilton Davis
Hinde
1
12-
25c
-—
(quar.)
preferred (quar.)
Chemical (extra)
5%
12-
$1
prior preferred
7%
Agricultural Co
McBryde Sugar Co., Ltd.
Maui
1-
50c
50c
—;
(quar.)
Year-end
1
1-
Hickok Oil Corp.—
Common
12-
•
10c
50c
1
(s-a)
12-15
8
25c
(year-end) -—«.»_*—*
.
Castings Corp. (irreg.) _
Co., Ltd—
Healy Petroleum Corp. (initial)
Hibernia National Bank (New Orleans) (s-a)
Common
2
1-
$2(4
$1
Common
(quar.)
Co.
Navigation
Matson
1-
$1(4
Harvill Aircraft Die
1
12-15
12-15
30c
1
12-
12-20
12-
10c
12-15
1-
$3c
25c
Hawaiian Commercial & Sugar
12-11
60c
12-20
$1
—-
12-22
(quar.)
12-20
25c
Co., common
Placer
Co.
Corp.
1-
$1
&'Trust (quar.)
Hathaway Manufacturing
12-
Electric
Asphalt
12-
$1
—$3(4
Hartford National Bank
Pittsfield Coal Gas Co.
12-15
30c
Mastic
1-2
$$1(4
Corp.
12-15
12-23
12-31
Co.
L.)
(Glen
Master
12-19
12-15
$50c
Harris-Seybold-Potter Co., common
$5 preferred (quar.)
Hart & Cooley Co. (quar.)
12-27
12-31
14c
25C
Holdere
Share*"■ Pay'ble
*
' ,'
(initial)
Pittsburgh Steel Co.—/
5(4% first prior preferred
m14
preference (quar.)
Fund (irreg.)
6%
Name of Company ? <v
;
12-10
35c
12-19
12-15
$$1(4
5'
Martin
1-15
31 Vic
$3
•
12-15
:
1-15
75c
(quar.)
—Guaranty Trust Co. (N. Y.) (quar.)
Hamilton Cotton, $2 pref. (quar.)
$2 preferred (accdm.)
.
Hamilton United Theatres, 7% preferred
Hanover Bank & Trust Co.
i.N. Y.) (quar.)
Harshaw Chemical (increased quar.)——
Hart & Cooley Co., Inc. (quar.)-..
,
Hard Rock Gold Mines, Ltd. (interim.)
Harnischfeger
1-2
of Rec.
12-26
-When'
Per''
Holdere
$3
Massachusetts Investors Second
$50c
___.
Share
Marlin-Rockwell Corp. (year-end)
Marmon-Harrington Co. (initial) (new)
12-22
$12(4c
12 (4c
preferred
5%
Marven's, Ltd.,
12-15
$1%
——
Watch Co., common
Gruen
12-1
25c
20c
$2
$2
50c
Lakes
Great
12-20
25c
Extra
,.r
$1%
12-
w1 1- 2
75c
5c
35c
Gorton-Pew Fisheries
1
Company
of
Name
12-15
$1
Manufacturing Co. (year-end)
Co., Ltd. (quar.)
Brewing—Grant (W. T.) Co. (Del.), common (quar.)__
5% preferred (quar.)
Great American Insurance Co. (quar.)
Gorham
When
Pay'ble
?tt
Holder«
Pay'ble
Per
Saturday, December 6, 1941
FINANCIAL CHRONICLE
THE COMMERCIAL &
1368
2- 2
(75c
12-29
1-
3
12-12
12-12'
12-19
121-
5
9"
pref.
—
12-15
Volume 154
Number 4016
THE COMMERCIAL & FINANCIAL
CHRONICLE
Per
>
Name of
Company
Warehouses, Ltd., capital
Banking Co. tquar.)
Thew
Shovel
Co., common
of Rec.
t$l
Name
American Coal of
50c
12-29
12-22
12-20
12-
American
5
$1%
(year-end)
com.
Per
12-20
$1^4
(year-end)
1% preferred (quar.)
Tide Water Associated Oil,
Holdert
Pay'ble
Share
Terminal
Textile
When
12-15
12-
1
20c
12-27
12-
8
_
5%
,
of Company
Share
Alleghany C'nty (resumed)
Co., common
(year-end)
preferred
Timken-Detroit
Transure
(quar.)
Axle
$l,/8
Co.
(year-end)
Trico
208
Williams
Products
South
La
$1V4
Forging
12-20
12-10
12-20
Corp.
12-13
12-22
Co.,
preferred
(quar.)
50c
(year-end)
common
Metal Mfg.
Extra
Co.,
(quar.)
12-10
2
class
12-24
12-
$1.40
12-15
12-
6
$1V2
12-15
12-
6
30c
12-10
12-
American
6
1
28c
UBC
12-20
18c
12-13
41c
12-20
12-13
30c
12-20
12-13
4% %
UCSB
21c
Rope
Aircraft
12-12
United
Artists
pref.
Gold
United
Paperboard
preferred
United
Co.,
Inc.,
Gauge Co.,
6%
Joints
common
States
United
Steel
American
12-
1
12-
8
American
Co.
Wire
12-12
American
Maize
Inc.
(quar.)
1-
2
12-20
Co.
National
preferred
Dorn
Works
Iron
Chemical
Victor
Equipment
Wagner Electric
Waialua
American
Radiator
12-16
American
Agricultural
12-20
12-10
12-20
12-10
American
12-22
12-12
12-20
12-10
12-20
12-10
62'/2c
West Penn Power,
preferred
Grocer
12-20
12-
12-20
American
Woolen
12-17
Anaconda
Wire
12-
5
American Wringer Co., Inc.
12-
5
Anglo Canadian Oil Co., Ltd., (interim)
Angostura-Wuppermann Corp.
(year-end)__
Anheuser Busch, Inc. (quar.)
Westvaco
Ltd.
(year-end)
12-1
80c
__
12-11
12-20
12-18
12-
25c
(year-endt
30c
.
Baumer
&
Ltd.
Winters
$l«/a
2
com.
(s-a)„
$ia/4
12-30
12-22
12-18
$3
$iy2
1-
1
1-14
1-
2
12-31
1-
2
12-31
1-15
1-10
Candle
12-23
12-
12-
$1V2
11-29
(quar.)
1-2
1-
(quar.)
11-29
12-20
25c
Co.
Wrisley
2
12-12
12-12
12-10
Atlanta
12-15
12-
5
Atlantic
Coast Line
RR.
12-15
12-
5
Atlantic
Coast Line
Co.
12-12
12-
5
Atlantic
Gulf
12-12
12-
5
12-18
12-10
-
(A.
Co.
B.t
(irregular)
Stock dividend of 50c..
(Thomas)
payable in 9%
Nurseries (quar.)
pfd.
(yr.-end)
$1
Common
57c
give the dividends announced in previous
not yet paid. The list does not include divi¬
we
weeks and
this
Per
of Company
When
Share
—
Pay'ble
Southern
RR.,
(resumed)
25c
1-10
12-26
6V4C
12-20
12-12
6J/4c
2-20
2-11
37V2c
1-
50c
2
Corp,
class
A
(quar.)
__
8% pref.
Aluminum
Co. of America, com.
preferred (quar.)
Manufacturers,
Inc.
preferred
(quar.)
(year-end)
(quar.)
American
Auto.
Ins.
35c
American
Co.
Bank
Note Co,
(St.
Louis)
(quar.)
,
_—.
preferred
(quar.)
Bemberg Corp., 1% pref. (s-a)—
American Can Co., 1% preferred (quar.)
12-17
12-20
Barber
Barnsdall
9
12-10
(quar.)
$2%
l-
2
12-20
preferred
(quar.)
1-2
12-20
Beech
11-29*
12-10
Creek
11-29
1
12-15
Beech-Nut
Canada
12-22
12-
3
12-29
$lVa»»
15c/1
12-15
12-20
12-
12-29
5
12-15
12-
12-22
12-12
12-15
12-
t2c
12-20
10c
12-10
1-
2
1-
1
12-17
50c
12-22
12-
$iy4
12-20
12-1
$3
12-12
l-
11-29
1
12-15
12-31
50c
12-15
12-31
Bessemer
12-13
10c
Bloch
12-
Bohn
12-11*
1-
12-11*
2
$3y2
1-
$i3/4
j. 2
1
12-22
12-18*
(quar.)
common
&
r„_
1
1
Canada
12-17
Class
Bond
B
Cable,
6%
pref.
(s-a)
12-17
12-15
11-13
50c
12-15
11-29
12-15
11-29
common
(quar.)
(quar.)
1-1
12-19*
12-20
40c
12-15
12-
5
$iy4
12-15
12-
5
$1
12-15
12-
1
SI
12-15
12-
1
$2
12-15
12-
$iya
12-31
12-15
Cigarette & Cigar, common
6% preferred (quar.)
6To
Power
(Opt.
payable in cash or
2
&
Light Corp.—
div. series of 1936),
i'« share of B stock
1-
1
tf
12-11
preferred
'.
12-
1
Canada
8
Class
preferred
1
6V2T0
12-15
12-
1
Canadian
12-15
12-
6
Canadian
12-10
11-25
12-24
12-17
12-24
12-17
tl5c
12-31
12-
12-19
12-12
12-15
12-13
1
2
12-22
12-15
Corp.,
Ltd.,
Corp.
preferred
(quar.)_
Foreign
12-15
Canadian-General
6
Canadian
6
5
2
Investment
Corp.,
12-12
12-15
12-23
11-29
$2Vi
12-18
11-29
12-
1
12-15
12-
1
Oil
Canadian
Tel.
I.)
(J.
1%
11-21
Catalin
1-
1
12-15
1-
5
11-28
12-18
12-
1
&
6To
Gas,
1-1-42
(A.
Co.,
M.)
Co.
(quar.)_
1-
2
12-10
l-
2
12-10
12-31
12-15
12-31
12-15
1-
2
12-16
12-15
11-29
12-
12-22
12-
12-15
11-30
|4c
$3y2
8
12-20
1-
11-14
5
11-25
2
12-15
1-2
12-12
Tobacco
&
l-
2
1-
2
12-10
12-15
11-21
1-
2
12-10
12-15
6To
1-2
12-23
12-15
12-
1
12-18
12-
5
12-15
12-
5
1-
1
12-15
1-
2
12-
5
pref.
$1
12-10
11-29
60c
____—
12-20
12
25c
15
12-19
12-
9
$iy2
12-15
12-
1
3c
12-15
12-
5
12-
3
15c
12-23
(quar.)
$iy2
12-26
11-22
class A(s-a)
i"30c
12-31
12-15
Brass
50c
(quar.)
12-12
12-15
12-
1
75c
Inc.
12-22
$lVi
(extra)
12-15
12-
1
of
preferred
20c
Special
Borne-Scrymser
Co.
11-25
$2
12-15
11-28
4$2Vi
Albany RR,..............
12-31
11-29
2
12-10
Boston
Elevated Railway ("quar.)
Boston Herald Traveler (year-end)
$1V4
20c
1-
(irregular)
!
Boston Woven Hose & Rubber, 67c
(year-end)—..
pref.(s-a)
—v
12-11
11-27
75c
12-31
12-
1
$1
Boston Wharf Co.
Bourjois," Inc.
12-10
8
12-31
12-
1
$3
12-15
12-
1
$1
12-15
12-
5 1
12-31
12-31
12-15
2
1- 2
12-15"
11-30
12-15
11-30
12-15
11-30
$75c
12-15
1- 2
12-15
$12V2c
1-
2
12-15
1-
2
12-15
1-
2
12-15
1-
2 f
12-15
1-
2
$50c
t$l
12-15
1-31
12-31
1-
2
12-
1
1- 2
12-
1
1-
1
11-15
j$2
1-
2
12-13
J2c
12-20
11-29
12-20
11-29
12-15
12-
t$l!/2
12-
1
11-15
1
12-23
12-16
12-23
12-16
1-2
1-
2
12-
3
12-19
12-
9
12-19
12-12
12-24
1-
1
12-
3
12-12
12-12
12-15
12-
1
12-15
12-
4
12-15
12-
1
$3Va
12-31
12-11
$l3/4
Storage
(quar.)
Central
South
&
Steel
$l'/e
1-2
12-20
t$lJ/2
12-15
11-20
12-15
West
11-20
f$l%
Utilities
12-20
11-29
&
Wire
t$lV2
Co.,
6To
Trust
&
Executor
(quar.)
Co.
&
on
12-10
11-29
12-12
12-
25c
Ohio
Ry„
12-15
11-29
1-1-42
12-13
10c
12-16
(quar.)__
common
A
preference
75c
(quar.)
(Consolidated)
Chesebrough Mfg. Co.
12-
2
(Toronto),
50c
series
1
25c
$1V2
common
(quar.)
$1
$1
Extra
1-
2
1-
1
12-27
1-
1
12-15
12-15
12-
5*
12-
5*
12-
5*
11-28
50c
Chicago Rivet & Machine
Cotton
Oil
Co.
(quar.)
Co.
Christiana
Securities
Co., com.
5%
preferred
5 To
(year-end)—
$35.15
1
preferred
A
Coca-Cola
A
12-15
11-24
1- 2
12-20
12-12
11-12
$5
12-20
11-28
3-3-42
2-16-42
$1%
6-1-42
5-15-42
9-1-42
8-15-42
$1 Vi
$1%
(year-end)
(quar.)_
,
30c
12-1-42 11-16-42
12-15
12-
5
15c
12-10
12-15
12-
$1
(year-end)
12-19
30c
12-15
1
11-26
61%c
Electric,
5%
11-26
12-22
12-12
3114c
&
12-15
75c
(quar.)
12-15
11-25
75c
12-15
12-1
first
(quar.)
Company—
Common
Common
3-17
12- 2
$1%
(quar.)
Gas
12-12
$1%
Street Railway
Co.
4-15
7-15-42 6-16-42
$ll/2
preferred (quar,)
Coca-Cola
12-16
15c
Cinn., New Orleans & Texas Pacific Ry. Co.
Common
(year-end)
5% preferred (quar.).^
5% preferred (quar.).—^
Counties
1-15-42
25c
(year-end)
Chemical
11-25
25c
—
*
7To preferred (quar.)
Chrysler Corporation
Cincinnati
11-28
12-15
25c
—
12-15
12'/2c
*1
(Quarterly)
(Quarterly)
Class
11-29
12-20
,12-15
$$1
non-cum.
Class
12-20
75c
$2
pref.
(quar.)
Extra
.
Co.,
Champion Paper & Fibre Co., common
6%
preferred (quar.)
Chapman Ice Cream Co. (year-end)
Chesapeake
11-15
(quar.)
Central Wharf & Wet Dock Corp.
Chain Belt Co.
(year-end)
Chartered
11-28
preferred
Service, 6%
$7 prior lien preferred
$6 prior lien preferred
Central
11-15
12-15
t$lVa
Illinois Public
Central
Coast
11-27
12-15
12-15
8c
$6 preferred
Clorox
12-10
25c
Mining (bi-monthly)
Central Illinois Light Co., 4V2% pref.
Chilton
12-31
50c
Central Eureka
4%
12-16
1-15
25c
Cold
1-1-42
37V2c
Extra
City Ice & Fuel Co., common
Clark Equipment Co., common
5% preferred (initial)
12-10
1-26
1-
15c
(quar.)
City Auto Stamping Co.
12-
1
1-15
j$2
$7
(quar.)
8
11-25
12-
75c
prior
8
12-20
11-29
15c
7%
Central Aguirre Associates
12-
12-10
12-15
$13,4
Corp. of America—
participating pref. (s-a)
12-
12-20
11-29
$2
(year-end)
12-15
50c
11-24
12-15
50c
(extra)
America
12-15
t$l
—
11-24
12-15
tic
(year-end)
common
40c
50c
—
Corp.
12-10
\h
9
t4c
(quar.)
40c
Fisheries, $6 second preferred
Co. (year-end)......
Borden
Borg-Warner
9
$2
7To
Chickasha
75c
1212-
Celanese
12-15
1-15
12-26
12-10
$iy2
_
(quar.)
(quar.)
& Co.
Corp.
Central
$1%
12-10
k
Light, Heat
preferred
(interim)
Tel.
preferred
12-15
2
(quar.)
(quar.)
Pomeroy & Co.
Castle
12-15
2
2
t20c
Natural
Co., Ltd.,
Carolina
11-21
2-
Co., Ltd.
Mines, Ltd,
(extra)
Carpenter Steel Co.
12-15
12-10
Electric
Cos.
Western
Power
Case
11-
flc
Case
12-15
12-31
f$2
Cariboo Gold Quartz Mining Co., Ltd.
(quar.)
Extra
1
2
tlOc
$30c
Ltd.—
Canfield Oil Co., common
6% preferred (quar.)__^
1-
11-29
t$l'/a
12-31
1-
12-20
$l5c
preferred
Malartic Gold
Canadian
6
2-
5
f$2%
f25c
(quar.)
Extra
12-
9
11-
t$l%
preferred (quar.)
12-
12-20
11-29
12-
12-11
i$l
(quar.)
(quar.)
12-
37Vic
12-13
12-29
?5c
12-31
6
25c
50c
f20c
f50c
class A
conv.
12-31
12-
1
12-10
f5c
50c
12-31
1
12-
12-20
t$l
Canadian Converters Co., Ltd.
(quar.)_
Canadian Cottons Co., Ltd., common
(quar.)
8%
12-
12-15
tl5c
com.
Participating
Canadian
1-
12-13
12-15
f50c
(quar.)
preference
non-cum.
6%
12-29
137I/2c
Breweries, Ltd., $3 pref. (accum.)
Canners, Ltd., common (quar.)__J
1st
60c
1
1
15c
Participating
12-1
12-31
5 %
1212-
t$l3>4
Wire & Cable,
B
(interim)
12-
12-18
12-15
$$1%
(quar.)
12-
12-15
1
15c
$l3/4
t20c
Canada Packers, Ltd. (quar.)
Canada Permanent Mortgage
12-15
$1%
(quar.)
Extra
f68%c
Corp., Ltd. (interim)
Ltd. (quar.)
Power
12-23
pref.
—
&
Northern
$1
3c
Co., class A (extra)
Stores,
Boston
7To
5
5
5 k
t50c
Canada
15c
Extra
Booth
12-31
$3
Stone
Extra
12-27
5
75c
Fdy. & Forgings Class A (quar.)
Malting Co., Ltd. (quar.)
12-27
12-
12-15 y, 1212-15
12-
40c
Canada
12-
25c
(year-end).
Brewing Co., Ltd., 6To
12-15
25c
(quar.)
Ginger Ale (quar.)
Dry
12-
t$l
...
Co.
2
12-
first preference
12-12
$$2
(quar.)
Cement,
11-29
1-
12-
Extra
f$l%
(quar.)
(quar.)
(initial).
Limestone
Aluminum
Bon Ami
Crushed
Canada
12-12
$1
Corp.
Brothers
Blue Top
1- 2
>
(s-a)
Birdsboro Steel Fdy. & Machine Co.
(irreg.)
Birmingham Water Works, 6To pref. (quar.)
Black Mammoth Cons. Mining (irreg.).;
Blaw-Knox Co. (year-end)
i&Uii
12-15
1
Ltd.,
Brewing Corp.
Mfg.
12-17
12-15
Radio
(quar.)
Binks
4
2
$1
50c
Bethlehem Steel Corp., 17c pref.
Bibb Manufacturing Co., extra
1- 2
2
(quar.)__
preferred
(quar.)
River Mines
1-
25c
75c
1
preferred
Belmont
12-12
$iy4
5%
1212-
$1
Telephone of Canada
Berens
1*
1
25c
Berghoff
12-16
43%c
(Quebec)
on common
Belding-Corticelli,
12-15
12-15
Canada Cycle & Motor Co.,
Extra
4
50c
RR.
'
11-21
12-29
Copper
Campbell, Wyant & Cannon Fdry.(year-end)
Bud Breweries, Ltd. (s-a)
Canada
Cement Co.,
Ltd., 6Va%
preferred
(accumulated)
12-
37 Vic
2nd
12-20
50c
Canada
11-29
75c
(year-end)
Ltd.
2
12-29
Consolidated
12-15
t$3
Extra
17c
Hecla
12-17
$1
(quar.)
7%
1
1-
50c
Ink Co
&
75c
$iy2
(quar.)
Packing Co. (quar.)
v
Bell
1-
Calumet
40c
15c
Gold Mines,
Special
11-29
12-15
1
2
Assoc.—
(year-end)
Beatty Bros., Ltd.,
*
1-15
1-
$2
(year-end)
Bath Iron Works Corp.
12-15
1- 2
California
1-
$1
Bayuk Cigars, Inc
Beattie
12-
12-15
12-15
75c
1
12-6
60c
Co.
1
Extra
A
(quar.)
Co
2
$1%
class
Oil
12-
American
$2.75
(H. W.)
12-
t$13/4
2
1-
25c
(s-a)
Scotia
5
Company—
12-
12-15
$2Vi
(quar.)
Nova
5
12-
$2.0052
(Jackson)
5*
Lines—
Foundry, 7% non-cum. pfd.
American Cast Iron Pipe Co.,
Cities
of
12-
35c
Extra
preferred
conv.
12-15
12-15
$1
12-
2
$iy2
6c
(Capital)
$2
Bank
1-
12 Vic
75c
12-20
10c
6%
American
S.
(quar.)
Alarm
12-31
J25c
American
Co.
$1%
40c
Fire
1
5
$134
Dividend normally paid on May 15
Calaveras Cement Co.
(resumed)
Mills—
75c
$iy4
—_—
Amalgamated Electric Corp., Ltd.
Amalgamated Sugar Co. (quar.)
&
Byron
11-29
$3
A
(year-end)
1941)
11-24
$1
$iy4
$l'/2
—
Aluminum
Chicle
S.
preferred
preferred
12-
12-
$1
Brothers
29,
9
12-15
$1
(resumed)
convertible
12-
12-23
12y2c
&
(quar.)_
Allls-Chalmers Manufacturing Co. (irreg.)—.
Alpha Portland Cement (year-end)...
American
Indies
Bank of America Nat. Trust & Sav.
1
ordinary
Dye Corp. (quar.)____—
Allied Laboratories, Inc. (quar.)
preferred
West
12-10
12-17
$iy4
(year-end)
7To preferred (quar.)
Byers (A. M.) Co. 1% preferred (represent¬
ing the quarterly dividend of .$1.75 due
Feb. 1, 1939, and interest thereon to
Dec.
12-
$iy2
Irregular
of Rec.
5
5 7c
(year-end)_
12-
12-23
Chain
12-15
(resumed)
(Conn.)
12-15
(year-end)$6
Algoma Steel Corp., Ltd.-—
5%
preference (interim).
t$2»/a
Allegheny Ludlum Steel, common (year-end)
75c
American Car &
Co.
Bangor Hydro-Electric, 1%
67c
preferred
(quar.)
12-23
Products
RR.,
(quar.)
11-18
$6
5%
Holderi
25c
—
(year-end)
6% participating preferred
Allied Stores Corp.,
Coast
pref.
12-12
75c
(quar.)
Inc.
1-15
$2,/2
20c
Addressograph-Multigraph Corp
Aerco Corp.
(initial)
Quarterly
Aero Supply Mfg., class A (quar.)
Class B (year-end)
Aetna Ball Bearing Mfg. (quar.)
Aetna Standard Engineering, com. (year-end)
5% preferred (quar.)_
Agnew-Surpass Shoe Stores, 1% pref. (quar.)
Agricultural Insur. Co. (Watertown, N. Y.)
Fisher,
(s-a)
$1
Company (quar.)
Adams Oil & Gas (resumed)
Allied Chemical
11-12
Atlas Powder Company (year-end)
Autocar Co.,
$3 preferred (quar.)
week, these being given in the
Acme Steel
Great
&
97»
Refining Co.
Avondale
Extra
12-
12-12
J$1
(quar.)
common
Special
preceding table.
Alabama
11-29
12-29
Automatic
announced
Name
Light,
non-cumulative
47c
12-20
15c
$2»/2
Gas
15c
$5ya
(year-end)
Butler
pref.
(s-a)
Atlantic
Below
1%
Corp., 1st preferred (quar.)
Topeka & Santa Fe Ry. Co.—
2
12-31
common
Butler Water Company,
8
$1%
1-
50c
(quar.)
Canada,
Financial
pref.
Bunte Brothers
12-8
12-
10c
(quar.)
1-
12-20
1-15
$1
50c
12-26
10c
l- 2
Extra
2
$1V4
(quar.)
—
40c
(quar.)
1941
50c
2
f$l%
$1
Co.
Co.,
(quar.)
1-
tl5c
Atchison,
57c non-cum. preferred
Atlanta
Birmingham
&
12-10
12-29
3VuTo
Co.,
(quar.)....
1-
25c
(quar.)
preferred
2
19.1a
75c
t$iya
$1
—
Co.,
5
1-
9
Ltd.—
....
Watch
12 Vic
(quar.)
Investment
12-
1-17
1.
$iy4
t93%c
15c
Astor
6c
5
(quar.)
(irregular)
(year-end)
12-20
$1
Co.
$1
12-15
6c
(irregular)
25c
-
2
pref.
Extra
5%
12-
40c
Common
12-23
12-15
(year-end)
(quar.)
12-23
$1%
25c
(irreg.)
(year-end)
of
25c
(s-a)
Collender
-
75c
Breweries
Co.,
Extra
25c
(quar.)
preferred
11-29
11-29
|$iy2
& Gas
Ry.
stock
Balke
preferred
$1%
conv.
A
common
Works
Associates
12-27
$2
*25c
Co.
Corp.,
Associated
11-15
1
$lVi
Ashland Oil & Refining
5
12-
$1
(quar.)
Corp.
Asbestos Corp., Ltd.
Extra
8
12-19
Constable
5%
12-15
t$5
(quar.)
class
(year-end)
Metal
11-26
30c
Extra
5
37'/2c
(year-end)
Co., Inc., common
Art
12-15
45c
—
Petroleum
Salt
2
12-
10c
common
1-
12-15
(year-end)
(quar.)
Investment
Worcester
Artloom
12-15
$1.20
(year-end)
(year-end)
(year-end)
Class B
Arnold
3-
25c
Co.
Common
3
$l,/2
Co.
Armstrong Rubber,
12-15
Bullard
$1
Electrical Mfg.
10-
$1V2
Extra
Woodley
2
11-20
17o
12-15
,
preferred (s-a)
Armstrong Cork Co., 4%
12-19
$l?/2
preferred
Co.
6%
12-10
1-15
7%
Cable
Arizona Edison Co., Inc.
Arkansas-Missouri Power Corp., com.
12-12
12-24
Co.,
&
7% prior preferred
12-15
lc
(year-end)
Products
(quar.)
Gil Co.,
1-
Apex
12-15
12-31
(quar.)
& Crampton
Wisconsin
12-16
t$l%
(monthly)
Weyerhaeuser Timber Co.
(year-end)
preferred
12-29
$l»/4
Co.,
__
Mfg.
8%
12-15
30c
Coal Co.
Weyenberg Shoe
2
1-
37'/2c
(quar.)
Extra
8
$l»/8
common
Chlorine
12-80
12-22
50c
(quar.)
Inc.
Thread
Tobacco
12-15
(quar.)
Westgate Greenland Oil
Westmoreland,
(quar.)
Co., Inc., 5% pref. s-a)__
Co., 6% preferred (quar.)
American Turf Association (year-end)
American Trust Co. (S. F.) (quar.)
1
12-15
12-22
$1V4
12-15
12-
12-15
12-22
25c
(s-a)
12-27
30c
(s-a)
(quar.)
Telephone & Telegraph Co.
American
5
50c
Penn. Ry.
preferred
American
12-10
Co.
&
Westmoreland
12-19
Surety Co.
12-15
12-15
(year-end)
12-22
5
t7Vic
2Vi%
Power
$5 preferred (quar.)
Buckeye Pipe Line Co
Bucyrus-Erie Co., common
25c
Sugar Refining, 7% pref.
American Sumatra Tobacco (quar.)
American
2
50c
Foundries
American
12-21
Corp.
50c
Bank (Milwaukee, Wise.) (s-a)__
West Texas Utilities, $6 pref.
(quar,)
Western Cartridge Co., 9% preferred (quar.)
Western N. Y.
Steel
American
West Side
Western
1-
Stand. Sanitary
t50c
West Jersey & Seashore RR Co. (s-a)
West Kootenay Power & Light Co., Ltd.—
7% preferred (quar.)
West Penn Electric, class A (quar.)
4'/j%
2
12-31
$1V2
&
convertible
45c
Co.,
12-10
$lVa
preferred (quar.)
American Seating Co. (year-end)
60c
pref
12-
t$l%
Rolling Mill Co
4y2%
20c
conv.
12-22
12-15
12-26
35c
12-16
12-22
(quar.)
Wellington Fund, Inc.
American
pref (quar.)
1-15
$1%
$1
Corp.
Waukesha Motor Co.
7%
7%
12-
$$1 »/a
"is-aj
prefer,
12-16
12-16
12-15
dividend
-
12-31
12-31
75c
(quar.)
Electric
preference
corporate
Cash
Brunswick
Bulova
preferred
non-cum.
1-15
(year-end)
Co.,
12-30
11-17
__
12-24
Works
5
12-15
Corp.,
American Public Service,
Vinco Corp. (irregular)
Vogt Mfg. Co., extra
6%
Finance
25c
12-15
_____
$1
(quar.)
5
12-29
$1
9
(quar.)
9
1212-
(year-end)
9
20c
Victor
Allied
Co.
1st
10-25
2
$i3/8
(E. & G.) Iron (Birdsboro, Pa.)
Brooklyn Manhattan Trans. Corp. (liquidat.)
Brooklyn & Queens Transit Corp.,
(Liquidating) payable in New York City
50c
Meter
7%
preferred
Columbia
prior
25c
12-15
(year-end)
5 To
$ia/4
,
10c
Inc.
12-
20c
common
(quar.)
$1
5% prior pref. (quar.)__
pref. (quar.)
Holland Dutch Bakers, Inc.
Kamp's
$6.50
&
Products,
12-
com.
2
20c
12-
12-20
1-
12-22
75c
87V2c
Co.,
11-19
$2
(quar.)
12-22
(quar.)
Products
11-19
12-15
12-22
(s-a)
Co.
12-15
(year-end)
Alles
Fdry.
Electric
6To
Ltd.,
l-
anr
Columbia
British
11-25
25c
12-15
1-2
12-15
$1.18%
_
preferred
$1
9
12-15
(quar.)
(year-end)
American Paper Co., 7%
preferred (qu.)
American Power & Light, $6 preferred
$5 preferred
5c
de
dends
&
American
1
2-
12-22
30c
Ltd.,
of Kee.
12-12
12-10
lOc
(quar.)
Celanese,
Holdert
12-20
f$iya
(irregular)
A
British
11-25
40c
(quar.)
American
12-10
12-
Extra
Young
(quar.)
10c
(quar.)
Co.
Upson-Walton
•
12-17
8
„
2-16
12-15
J40c
x
,
....
Brooke
Co.
prior preferred
Common
British
$1V2
(year-end)
Co.,
Utica Knitting Co.,
Valve Bag Co., 9<o
Extra
Extra
7%
12-
Extra
Wiser
11-29
15c
+
Stove
Universal
Wilsil,
Convertible
(resumed)
preferred (quar.)
Class
t30c
Pay'ble
75c
Common
6To
1
1
each).
5c
United
Will
12-20
$2'/2
Refining & Mining Co.,
preferred
9%
(35c
Electric
Mach.
12-23
$1%
Rubber
&
1212-
Steamship Co, (year-end)
Insulator Corp
12-27
/
is-a)
12-17
12-15
American Hawaiian
12-15
(year-end)
$1V4
When
Share
Company
Brewing Corp. of America.—.
Bridgeport Brass Co., common
com¬
$1%
Hardware Co.
$1
»/2c
is-ai
S. Smelting,
Van
Y.),
Extra
12-10
non-cum.
Year-end
Van
&
t$4y2
Extra
7%
held)„_
50c
(N.
10c
preferred
United
U.
12-13
12-10
$4.60
Chemical
common
Inc.
of
Bearing Co
Brazilian Traction,
Light & Power Co., Ltd.,
5Vi% preferred (initial quar.)
Briggs & Stratton Corp.____
Bright (T. G.) Co., Ltd., common (quar.)..
6To preferred (quar.).
Brillo Mfg. Co., common
(year-end)
10c
American
Mines
12-12
25c
12-20
12-22
12-15
5 To
(irregular)
States
Gas
$1V4
United
7%
Inc.,
Chemicals, Inc., $3 pref. (year-end)
Engineering & Foundry Co. (yr.-end)
United
S.
Circuit,
2
1- 2
f35c
preferred
25c
(quar.)
(qunr.t
United
U.
Inc.
Theatre
B
Lines,
Name
Bower Roller
12-12
1-
,
Extra
20c
(quar.)
Products,
class
or
dividends
American
UPS
Wire
A
Export
Two
UCSA
Series
5
X- 2
12 Vic
American & Foreign Power, $6
preferred
Two dividends
(30c each),
Series
United
quar.
(year-end)
5% preferred (quar.)
Series
Union
12-
12-15
15c
mon
12-13
12-20
5
$5
$7 preferred
UBB
Series
1-
12-15
.12-
on class A and class B
(Divi¬
dend
is
payable
in
shares
of
the
company's 5% cumulative preference
($10 par) in the ratio of one share
preference for each eight shares of
12-18
15c
(initial
12-15
Special
12-10
2
12-18
95c
common
$6 preferred tquar.)
'Union Sugar Co. (resumed)
Union Trusteed Funds, Inc.—
Series
1-
10c
_
(quar.)
Union
preference
Corp.
(quar.)
Corp.
5%
11-29
15c
American Cyanamid Co., com. class A
(quar.)
Class B
(quar.)_
12-10
62>/2c
Steel
Salle St.
Investment
1.9%
2
75c
&
(year-end)
Union
1-
of Rec.
12-20
15c
,___
$4.50
Per
Pay'ble
$2
Colortype
preferred
1369
When
—
—
—
(year-end)
$2
International Corp.
(s-a)
(year-end)
—
——
Cochenour Willans Gold Mines, Ltd. (interim)
12-15
$1%
(s-a)_
12-15
12-1
$20.85
12-15
12-1
$3
12-15
12-
1
t3c
12-20
12-
1
12-1
,
^Saturday;-December 6, 1941
CHRONICLE
COMMERCIAL & FINANCIAL
THE
1370
~
of "Company
Name
.
Patfblt
Shart
•
•
Holder*
of R$e.
A
Pittsburgh RR. Co.,
80
12-23
$1.06 V*
12-31
12- 9
$iy2
12-20
12-
$4»/a
12-20
12- I
Fairbanks
25c
12-22
12-8;
Falconbridge
25c
12-22
12-
8
Falstaff
75c
12-22
12-
8
$1.70
12-10
; 11-21
110c
1-15
12-31
30c
12-22
12- 5
$l>/4
12-31
12-15
1- 2
12-12
..
common
Baking,
Columbia
.
(quar.)
,
1
Extra on preferred
Columbian Carbon Co. (year-end)——_—
Commercial Alcohols, Ltd., 8% pref. (quar.)
Commercial Solvents Corp. (year-end) ______
Commonwealth Loan Co. (Indianapolis), 5%
A'v $1 partic. preferred
v
•
Erie
&
Eversharp, Inc., 5%:
1
Excelsior Insurance
(quar.)
& Southern Corp. (Del.)—
preferred ..
Confederation Amusements, Ltd., 8% partic.
preferred (irregular) _,
,
Confederation Life Assoc. (Toronto)
(qu.)_
preferred
t75c
$6
& Co. (year-end)
Nickel Mines, Ltd. (interim)—
(extra)-
Fanny Farmer
Screw Works (resumed)
Enamel Corp.—________—_________
12-18
11-29
Ferro
$lVa
12-31
12-14
Field (Marshall) & Co.,
25c
12-15
12-
50c
12-15
12-1
J4c
12-20
-
Ltd.
Mines,
Coniaurujn
——
$2.50
.
preferred- (s-a)
non-cum.
1
12-
2
*37 Vic
12-15
40c
12-15
11-
Firestone
12-
First Realty Corp.
15c
12-15
11-28
30c
12-15
12-
1
70c
Consolidated Laundries Corp.—
12-15
12-
1
:
(quar.)
preferred
$4.50
(quar.)
Co., $5 pref.
Consumers Power
•
$lJ/4
$1^8
_
1-2
12-12
12-15
12-20
12-15
12-15
11-25*
412
12-15
11-15
Foster Wheeler
10c
12-22
12-
1
Fox
12-22
12-
1
I Extra
50c
50c
(year-end)
.*
Continental Casualty Co. (quar.), extra ___
Continental Motors Corp. ($1 par com.)
Continental Oil Co. (Del.)
u:
Continental Steel Corp., common (year-end)
V/o preferred (quar.)—
Continental Tel. Co., 7% partic. pref. (quar.)
i; • f 6'/s% preferred (quar.)
Continental Can Co.
30c
r
.
12-10
12-20
12-10
Frankenmuth. Brewing Co.
12-15
4
1-2-42
12-15
Franklin Co. Distilling,
50c
12-15
11-24
; 20c
12-10
1212-
1
50c
12-27
12-17
$1*4
12-15
12-
12 Vic
12-15
11-24
11-28*
12-13
12-16
12-
12-31
12-
6
1
12-
12-23
75c
12-15
12-
General Bottlers, copv
.
75c
General
12-15
12- 5
12-22
12-
25c
12-15
11-28
12-31
12-15
RR., 8% pref. (quar.)
(quar.)—_________
2
;
12-15
12-
12-15
12-
1
12-26
12-19
12-15
5c
$lVg
York—
$13/4
—-
f$2
12-20
$2
-
(s.-a.)
12-23
12- 5
13-20
12-23
1-5-42
2-16-42 2- 5-42
5-15-42 5- 5-42
8-15-42 8- 5-42
sH
12-16 12- 6
4: 1- 1 12-31
25c t* 12-15
11-28
Dewey & Almy Chemical, common (year-end)
55c
12-15 12- 1
li'i
Class B common (year-end)__
55c
12-15
12- 1
H
$5 convertible preferred- (quar.)____—_—
$1V+
12-15 12-1
A*:Diamond Alkali Co. (quar.)
50c
12-12 11-29
:f
Distillers Corp.-Seagrams, Ltd. (quar.)—155 Vic
12-15
11-29
aAA Dixie-Vortex Co., common (year-end)
25c
12-18 12-4
$2.50 class A (quar.)—_
62Vic
1- 2 12-10
Dixon (Joseph) Crucible Co. (year-end)
$2
12-23 12-15
<v. Doehler Die Casting
(com. stock dividend)
6%
12-29
12-19
Dominion Foundries & Steel, Ltd. (quar.)__
425c
1- 2 12-20
Ar
; - $25c
1- 2 12-20
4; Dominion Glass Co., Ltd., common (quar.)
+$1(4
1-2 12-15
7%
preferred (quar.)
.—,
•—4$la4
2 12-15
Dominion Textile Co., Ltd., com. (quar.)
t$iy»
1- 2
12- 1
7% preferred (quar.)
t$l34
1-16 12-15
-
>
1
Dominion Woolens &
non-cumulative
6'/o
Draper Corp.
/
•
(quar.)
—
12-15 :12- 1
12-12
12-20
12- 5
12-15
11-14
12-20
$l3/4
$1%
I.)
(quar.)_;
preferred
$4.50
Eastern Michigan
Eastern
50c
Slla
Transportation (liquidafg)
$3
Racing Association
jEastman Kodak CoM common
(quar.)______
.
>;
Extra
(quar.)
Associates—
prior preferred (quar.)——
preferred
1- 2
12-15
4»/2%
6% preferred
-
1- 2
1- 2
.
$iys
,»—_
t75c
Eddy Paper Corp. (year-end) —
Edison Bros. Stores, Inc., common
'
5%
convertible preferred (quar.)
':,/ A
t>% conv, pref, (initial) (Covering period
rf vt
of issuance from Sept. 24 to Dec. 15)—56
El Paso Elec. Co. (Del.), 7A pref. A (quar.)
7% preferred
'5;' El Paso Elec. Co. (Texas), $4.50 pref. (quar.)
El Paso Natural Gas Co., common (year-end)
M Electric Boat Co,
(year-end)
—____
A
Electric Power & Light Corp,, $6 preferred—.
>
$7. preferred
—
—___
Electric Storage Battery (year-end)
Electrolux Corporation
A;. $1
30c
62y2c
.
,
'
,
'•
Eimira & Williamsport RR.
/
7%
Co.—
-
,
■.?
12-19
32/lOOc
12-15
$l3/4
1-15
Sl'/g . 1-15
$iy8 A 1- 2
60c
12-27
50.c A12-10
t30c
1- 2
t35c
1-2
$1
12-23
20c
12-15
preferred (s-aU_——-—-
$1.60
preferred (quar.)„_ v;; $iy2
participating stock
A -j*75c
Emporium Capwell Co., common
(quar.)
___
35c
iV»% preferred A (quar.)
, 56Vic - A
■Ai Engineers Public Service Co., $6 pref.(quar.)
$iy2 p
1 5Vir/o preferred (quar.)_A_--—_———$1%
S>t $5 preferred (quar.)—
—;—$1'4 ^
-
1- 1
1- 1:
12-15
12-15
Empire Power, $6
$2.25
;
12 6
12-15
12- 6
12- fi
12- 5
12-5
.
.M
A
A
,
$1 Ah l-: 2.
Eastern Gas & Fuel
i
11-29
12-20
30c
$1V2
$1*4
$t Vi
$l»/2
—____
11-19
12- 8
$7
(initial)
12-20
11-24
1- 9
12- 1
12- 8
tSl'/a
Picher Lead Co., common (year-end)
6% preferred (quar.—
East Mahanoy RR. Co. (s-a) ________—___
6%
12-15
$iy8
__________
Eagle
4
12-23
-1- 2
12-22
1- 2
12-10
1- 1
1- 2
12-13
1-24
60c
6% 1st pref.
Massachusetts St. Ry„
11-29
12-19
60c
1% preferred (quar.)
deNemours, com. (year-end)
(E.
Eastern
r
1-2
$1%
$134
$1%
duPont
12-15
11-29
1- 2
J60c
75c
.0
$1
Dresser Mfg. Co. (reduced) _______—
Driver-Harris Co., Common ______________
1% preferred (quar.)
Pukg Power Co., common (year-end)
T/p preferred (quar.)
Dun & Bradstreet, Inc., common (quar.)____
$6 preferred (quar.)
Duncan Mill6,
vi
participating preferred
Extra
:v:
^
Worsted, Ltd.—
11-29
11-29
12-31
12-31
12-15
12-11
11-26
12- 6
12-6
12-3
11-15
1- 2
12-20
12-10
1- 2
12-20
12- 5
I- 2
12-20
12- 1
12-20
1- 2
12-12
1- 2 4 12-12
1- 2
12-12
11-22
Dec.
11-14
12-
5
12-22
12-
1
12-22
12-15
12-15
11-29
2
12-15
12-29
12-15
12-15
12-
12-15
12- 5
12-15
12- 5
12-31
12-10
12-19
12-
12-20
11-19
12-15
12-
5
12-15
12-
5
12-31
12-15
12-31
12-15
12-31
12-15
(resumed)
(resumed)
Common
Common
12-
.12-
12-20
12-
12-20
12-15
11-14
11-28
12-15
11-28
1-12
12-20
11-29
4-15
,1
12-20
12- 4
Gold
Mines.
Inc
Hall
(C. M.)
Lajnp Co.
(W. F.)
Printing
—A
Hamilton Watch Co.
Haloid
(quar.)
Co.
80c
;
1-
2;
12-15
i
1-
1
Hammermill
11-28
1- 2
12-15
12-22
11-29
1-2-42
12-31
12-10
11*29
12-20
12-
12-24
12-12
12-15
11-15
12-15
11-15
12-15
12-
-
Paper Co.,
common
Harbison-Walker Refrac. Co., 6%
pfd. (quar.)
(N. J.)
(s-a)
1-2
37V2c
$1*4
(irregular)
Heileman (G.) Brewing Co. (year-end)—_
Hein-Werner Motor Parts (quar.)
50c
A 35c
. 20c
Hecla
A'-
Mining
Extra
*
'
1—
—__
_
'
.. .
40c
(quar.)„_____
$1'4
50c
(Geo. W.) Co,, common
Extra
1
V/o
12-20
1
12-
12- 1
12-12
12-10
12-10
12-1
12-16
12-1
2-
2
12-
5
6
1-20
lr
12-20
12-
12-221
12- 8
-
Lawrence
■
A 12-15
12-15
•
.
12-17*
1-
2
12-15
1-15
12-18
12-15
12-
1
12-15
12-
1
1-2
11-30
_
11-29
12-15
12-15
12-15
11-29
11-29
11-29
11-29
12- 5
12-10
12-17
1-1
1- 1
12-15
12-15
12*8
12- 8
12- 1
12-1
11-15
12-15
12-15
,12-20
12-24
1-1
,
12-15
12-10
12-15
12-15
12-20
1-1
1-2
12-31
1-2
11-29
12-15
12- 1
12- 1
12- 5
12-12
12-20
12-10
11-22
12-15
1-2
12-15
12-15
12-15
12-20
12- 2
12-24 ;• 11-28
12-24
11-28
12-15
12- 5
12-10
1- 1
12-10
12-29
12-17
11-25
12- 6
12- 3
11-15
12-15
10-31
11-29 ;
12-12 ;
1- 2
42-22
1- 2
12-12
12-12
12-
1
2
12- 6
1- 2
12- 6
12- 6
$1%
12-19
12- 8
- $1.20
12- 6
12-20
..
50c
1212-20
?
Extra'-A___——A————4A-A—'AAAAAAAA ;■ 50c . __
"A v/o preferred (s-a)
'J-' ir $3,/2t- ; 12-20' "-12- 6
Lily-Tulip
v
Year-end
•
—
12-15
12-15
12- S
62lie
40c
$1
55c
1- 2
11-29
12-15
12-15
12-15
12-15
42-29
'11-28;
11-28
11-29
12-12
12-22
1-2-42
.12-12:
12- 6
12-13
11-28
:
—
:
25c
12-30A A12-20
12-15
11-22
$1.30
1-15
.15c
12-10
$134
1- 1
, 30c .12-15
______
Locomotive Works, Inc," (resumed) ___
V Stock dividend
of one'share of capital
■■*A.
stock for each 25 shares held—
Lima
1- 2
12-26
12-15
65c
Tobacco,-7% pref. (quar.),
—
12-30
10c
50c
Co.
Corp.'< (quar.)
12-15
25c'
Roi
Liggett & Mvers
A
1-2-42
12-19
2-2-42 1-16-42
12- 5
$P/4
(quar.)___Lexington Telephone Co.—
■*; A
A 5.2%
preferred (initial auar.)
—
Life & Casualty Ins. Co. (Tenn.)
(quar.)___
1
12-
12- 1
11-19
11-19
11-28
12-15
U7'/2c
(quar.)
—A
•
Leslie Salt
5
,
1-2-42
$1(4
(year-end)_,
(year-end)
:
t$l
pref. (quar.)
Portland Cement
'4- 2
1- 2
,'1- 2
12-15
135c
preferred (quar.)
Coal & Navigation Co. (year-end) __
Lehigh Portland Cement, 4% pref. (quar.)__
I Lehn & Fink Products (year-end)
—A
l+eland Electric Co.
—
———
Le
11-8
1- 2 ;
1-
1*
1
$l'/2
Lehigh
1
12'
12-
1-
50c
Leath «fe Co., $2.50
12-13
8;
12-15
12-10
12-15
$l'/2
$1%
.
_______
,—.___
A,Extra
12-
12-15'
12V
(quar.)—
(John A.) & Sons, Ltd.
•Lane*We'ns^/Company (quar.)
8
12-12
-1-" 2
12-31
12-29
25c , 12-12
40c
12-13
15c • 12-13
30c
12-12 t
—__
—
Lang
1-15
12-15
1
1-2-42
Baking Co., 6% 1st pref.
Landers, Frary & Clark
Landis Machine Co. 7%
1
12-18
.
12-
" $1'4
(quar.) —$l'/2
(quar.)
—
$134
2nd preferred Jquar4.._
11-29
2-2
1- 1
12-31
——.
—
—
12-15
;12-31
11-26
pref, series D
5%
Lighting,
preferred, series C
preferred, series B
Ont.)
12-31
.
1-14
12-10
12-15
$1V2
Kuppenheimer (B.) & Co. (resumed)
Laclede-Christy Clay Products Co.—
'6% preferred (initial)..^__+,__..^_____i
Lake Shore Mines, Ltd, (quar.)
Landed
Banking & Loan Co.
(Hamilton,
12- 5
1-2
12-20
1-28
12-26
25c
$1>4
—
(quar.)
12-10
12-
County
Kroger Grocery &
A. 7%
12- 5
A 12-22
12-12
50c
30c
(quar.)
(8. H.) «fe Co., common^——
special preferred (quar.)__
Kresge (S. S.) Co. (quar.)—
12-16
.
12-23
50c
18c
5c
(year-end)
6%
12- 5
,2-16
11-28
8%c
Kress
12-31
•.
(yr.-end)
Kobacker Stores
;
12-20
75c
A__—L—A
^_______
7%
preferred (quar.)_j
Hercules Powder Co. (year-end)———
Hershey Creamery, Co., common (s-a)___—
Helme
12-
a6%
12-20
$1%
Co.
1
12-31
Battery Co., Ltd. (year-end)—T
•
* $25c
Electric Light Co. (irreg.ll'/2c
Furniture Cos.. $1.50 pref. (quar.)
Hazel Atlas Glass (quar.)A___-—utA1
Hazeltine Corp.
(quar.)—
Heath (D. C.) Co., 7% preferred (quar.)—_
12-
12-12
3
12-12
12-15
12-15
12-15
Kingston Products Corp., common—,—.____
10c
12-1
Klein (D. Emil) & Co., Inc., common—25c
12-27
12-17
5%
preferred ;(quar.)
—62V2c 2-2-42 1-21-42
12-10
12-15
.
12-
25c
$1
37y2c
_______
(quar.)
4
12-
12-15
Hartford
Haverty
Kings
12-15
t
2
12-17
15c
6% preferred (quar.)
12-27
50c $114
•
12-15
12-20
8
12-
30c
Series S2
Extra
11-21
12-18
.
Corp, cl. A
Kimberly-Clark Corp.; common
12-12
12-15
12-
12-10
75c
-—
Keystone Custodian Fund,
Keystone Steel & Wire Co.
8
12-19
thilVt
40c
' ■. 75c
A 65c
$1 Vg
—
12-
12-19
pref. (quan) _.__i___-_ $1%
Railways Co.A——• 20c
Harrisburg Steel Corp. (quar.)
25c
National Bank
12-20
12-20
;
8
2
1-
$l»/2
Gold' Mines, Ltd. (irreg.)__•__
Lakes Mines (payable in U. S. Funds)
Kerr
12-20
'
Harrisburg Gas, V/o
Harrison
1
12-31
•Harrisburg
Hart
Extra
12-31
12-15
5
12-
5%
40c
50c
50c
Kerr-Addison
1-2-42 ;
5
12-
12-24
$1V2
Kerlyn Oil Co., class A (quar.)
Kern County Land Co. (year-end)
12-15
12-15
25c
—__
2
12-
$1
$3
t$lV2
40c
.
12-15
2
1-
3
12-15
Power & Light,
Ken-Rad Tube & Lamp
1
12-
^
12-12
1-
30c
30c
50c
50c
Kennecott Copper Corp.______-_.
11-21
$1.50
Extra 4 „_4—
Kellogg
12-20
•
12-
11-20
1-3
(Spencer) & Sons (quar.50c
Switchboard & Supply (year-end) ___
20c
Kellogg
8
12-15
50c
$1V2
$1%
43%c
AAA*-■>,.■ le
.
20c
—25c
.
: 25c
; 50c
(year-end)
50c
4%% < preferred ■v(quar.)____y»_rrT___r^i_^
Hammond Instrument CoA cpmmon.______^
6% preferred (quar.)
Hanna (M. A.) Co. (year-end)
_
12-20
12-20
A
12-15
12-10
$1V2
Kansas
$114
Katz Drug Cd., common .(s-a)_---_-_—25c
'a;$4.50 preferred (quar,)———
$1V8
Kaufmann Dept. Stores, common (year-end)
25c
5'/e convertible preferred (quar.).—_____
$1'4
Kayser (Julius) & Co
——
25c
Kelley Island Lime & Transport Co. (quar.)
25c
Kellogg Co., common
—
25c
12-31
12-15
-
12-15
$6 pf, B.(quar.)
Electric Power Co., 5% pref. (quarj
Kansas City
2
(quar.)
;*i
r
1-
.
(year-end)
8
12-
1-15-42
;
11-28
1-2
$114
Joy Manufacturing Co. (quar,)_—__
Kalamazoo Stove & Furnace (extra)____,__
12-15
2 4
1-
Co. (N. Y.) (quar.)
40c
(quar.)
:—
•
5c
Gold & Stock Telegraph Co.
(quar.)
$lJ/2
Golden Cycle Corp.———
—; 75c
Goodrich (B. F.) Co., common (year-end)—
$1V4
V
$5 preferred (quar.)—
$1J4
Goodyear Tire & Rubber,'com. (increased)
3lVaC
$5 convertible preferred
(quar.)
$l'/4
Gotham Silk Hosiery, 7% preferred——— t$5V4
Grand Valley Brewing Co. (resumed)
5c
Great American Indemnity Co. (N. Y.) (s-p)
10c
Great Lakes Paper Co., Ltd.,
•
>
$2 class A preference (aceum.)
t75c
$2 class B partic, preference (assum.)—
J75c
Great Northern Iron Ore properties—
; ; Certificates of beneficial int.
(year-end)
$2
Great Northern Ry, Co., preferred—________
50c
Greene Railroad Co, ,(s-a)
:
•>.' S3
Greening (B.) Wire Co., Ltd. (quar.)__——
tl5c
Griesedieck Western Brewery—_r——
, 50c
Group No. I Oil Corp. (irreguiar)_
$50
Gulf Oil Corp. (quar.)—,r___——z—
25c
preferred
1
12-15/.
12-. 5
12-22
$1%
preferred (quar.) _______
Jones & Laughlin Steel Corp.,—
:
5% preferred A (quar.).—
—$1VI
5r/o preferred B (quar.)_,
$ 1V4
Jo6lyn Mfg. & Supply Co., common
75c
'"
6% preferred (quar.)____________
$l»/2
12-10
12-15
Brewing Co.
.
2
5-
12-22
■
12-31
12-31
V/o
12-10
50c
pref. (auar.)-i-^__:^^i4—- Gulf States Utilities, $5.50 pref. (quar.)——
2-
5-15
40c
—
1
12-22
62'/ac
25c
Gulf Power Co.. $6
2
5-
2-16
1-2-42
110c
20c
$l'/2
50c
20c
(quar.)
(quar.)
Johns-Manville Corp., common
2-
5-15
50c
$lVSe
11-29
2-16
Glens Falls Insurance
Haile
11-13
2
2-
$1V4
Hall
12-10*
1-1
12-12 1
12-26
Ltd., 7% pref. (apcum..)
t$l%
International Salt Co. (year-end) __________
$1V2
International Silver Co., V/o pref, (quar.)__
$1%
International' Telegraph Co. (Maine)___
$144V3
Interstate Department Stores—.
—_
25c
Interstate Hosiery Mills
25c
Interstate Natural Gas Co., Inc.
$1.20
Institutional Securities, Ltd.—
/ .Bank Group shares (stoj:k.)_A-«——r~_ —,■Vkc/°
Iowa Southern Utilities Co,—
A; A A A* A A,
A
A 7% preferred (dividend arrear. ctfs.)____
. t$l34
6'/2% preferred (dividend arrear ctfs.)__
t$l%
~'6% preferred (dividend arrear ctfs.)—
4 t$l'/2
Irving (John) Shoe Corp., 6% preferred-,— '
t37'/2c
Jamieson (C. E.) & Co. (quar.)_____
15c
Jewel Tea Co. com.: (quar.)______________
60c
12-
12-20
'
2
_
,
Telegraph Co.
Ocean
9-25
1-
30c
t$3a/4
(resumed). ——
Nickel Co. of Canada (quar.)
U. S. funds, less 15'/o Cana¬
International
6
Internat'l Power Co.,
12-
12-20
_________
12-12*
12-
3%
(quar.)_—_
Machinery
Cigar
tax.
dian
1
12-20
•
1
12-
12-
4-
Art Co. (quar.)———— A
Glen Alden Coal Co, (year-end)
—___—-
A; $6 preferred (quar.)
Hackensack Water, 7%
,
2
Gibson
(Year-end)
International
Payable in
1
12-15
Equipment Corp
—
Georgia'RR. .& Banking Co. (quar.)—___—f-,- . , $2'4
Georgia Power Co., $6 pref. (quar.)
.__
*, ■ $1%
A
12-
12-15
12-15
International Elevating Co.
A12- 1
12-15
$1
$1
$1V2
$l'/2
preferred (quar.)
International
1
12-
12-U
1-2
—
Stock dividend
•
'
1-
(quar.)—
common
(quar.)—
General Theatres
Goeble
1
f $10
.
A $5
1
A12-
1-15
—
,,
$2.50 preferred
1
12-
1
12-15.
1- 1
50c
(year-end)——_______
—
Ingersoll-Rand Co., common (extra)
A 6% preferred (S-a)
—______
Inter-City Baking Co., Ltd. (interim)—,
Intercontinental Rubber Co. (year-end),
Interlake Iron Corporation (year-end)
International Business Machines Corp,(quar,)
10c
10c
participating class A (This dividend
arrears)—
— 4
A $4 participating class A__
$4. participating class A—
—
6'/a preferred (qua.r.)___;___
Gr/c preferred (quar/i—
General Railway Signal Co., com (year-end)
6% preferred (quar.)
—
'
4-.
General Telephone Corp.,
12-
1
11-29
12,-10
12-19
.11-26
12-22
Common
>,
1-
$4.
..
5
1-
35c
-
______
—
1
12-13
42-10
12-10
11-28
12-15
12-22
12-31
_
$2
Incorporated' Investors
Indiana Gas & Chemical Corp., $3 pref.(s-a).
Indianapolis Railways (initial)
Indianapolis Water Co., class A___——
5% preferred, series A. (quar.)_
Indian Motocycle Co., common
(. 6% non-cumulative preferred (s-a)
Industrial Rayon Corp., common
12-29
12- 1*
12-31"
12-27
12-20
12-20
12-17
12-26
$1%
——
(interim 1
<
12-15
12-15
___
Imperialle Fuels—
6% participating preferred (initial s-a)__.
Imperial Life Assurance Co. of Can. (quar.)
Imperial Tobacco Co. of Canada, common,
12- 1
12-30
12-12
42-10
12-20
12-10
12-31*
12- 8
1-15
.
Ltd., Amer.
Imperial Chemical Industries,
Dep. Rec.
(interim)—
12-15
Fire
•
12-15
12-15
12-6
11-29
12-13
Ltd.—
Plantation (resumed)
.
12-10
25c
,
50c
50c
50c
75c
$1%
12-15
8c.
;
clears all
preferred (quar.)__——______
f 5% preferred (quar.) —
.;
5%
preferred (quar.) —
Detroit SteelCorp. (year-end) __________—
Devoe & Raynolds, 7% preferred '(final)—_
Devonian Oil Co.
(quar.)
______
••
'
_
12- 5
12-15
& Smelting Co.,
Refining Co. (year-end)
Idaho-Maryland Mines (monthly)Illinois Bell Telephone Co._
—
Illinois
Central RR.,- Co.
(Leased Lines),
4% guaranteed (s-a)___i
______
Illinois Commercial Telephone Co,, (Madison,
Wise.), $6 preferred (quar.)
___'
Illinois Zinc Co. (resumed)__,
12- 5
Extinguisher (year-end) U
"
75c
General Metals Corp. (extra)__——.
25c
General Mills, Inc., 5% pref. (quar.) _______
$1'4
General Motors CorR., common (year-end)—
-■ -$1
A $5. preferred (quar.) __________—$1V4
General Outdoor Advertising, com (resumed.)
10c
1
15c
—,
—_
:_—________
General Electric Co.
11-28
40c
•
Bay Mining
Humble Oil &
Hutchinson Sugar
12-13
12-31
$1
$114
t$l5/a
40c
25c
t$l
62Vhc
50c
5c
$2
l_A
Hudson
12-15
$1
10c
13%c
lc
_
Extra
I
12-23
$114
12-20
6
12- 5
68%c
:
(year-end)
—__—_________
(quar.)-
12-24
1-
12-12-
12-15
12'/2c
_
1-2-40
$1*4
—
—_____
General Cigar Co.
$3
5%
.
a Extra
t Extra
$1
12-22
t$l,38
12'/2c
preferred (quar.)
General Box Co. (quar.)
1
t25c
—
(quar.)
Film, class A
(year-end)
Class B
12-10
12-15
.
<
:—
—T
General Aniline &
12-13
$iy8
(quar.)
preferred
8
12-16
Power Co., com.
preferred
Extra
12-24
12-22
____
Derby Oil & Refining, $4 conv. pref.
Detroit Hillsdale & Southwestern RR
Detroit Michigan Stove Co.
<4
•
pref. (quar.)
%
12-15;
$2
Extra
^
11-28*
$ 1 14 ■ '■
i,
€'
12-22
(quar.) _*
V 5 Vt % preferred (quar.)
Gaylord Container Corp. (quar.)
5'fa
$1
r
Hook & Eye (quar.)
Dentists' 3upply
Co. of New
(initial quar.)
Gatineau
5c
De Long
Industries, common
Gar Wood
11-29
t$l
1
Dayton & Michigan
Delaware Fund, Inc.
1
11-29
1-2
12-12
50c
$l>/2
-17V2c
17V2C
10c
$l5c
t$ 1'/»
conv.
12-13
^
12-12
12-22
5c
.
preferred (quar.)
Garfinckle (Julius) .& Co.-(quar.)_______i.__
6%. convertible preferred (quar.)_______i__
$6
v
12-15
25C
12-12
12-22
$l'/2
(irregular)
common
12-24
56 Vic
Co.
Darby Petroleum Corp
David & Frere, Ltd. (quar.)—
Co.,
Gamewell
50c
•w
(Montreal) (quar.)
—
of America, com. (initial)
5% conv. preferred (quar.)
Crum & Foster, 8 % pref. (quar.)
Cuban-American Manganese Corp. (yr.-end)
&
Cuneo Press, Inc., 4J/?%
preferred (quar.)__
A
Cunningham Drug Stores, Inc.—
.HA* 6% class A prior preference
Curtis Publishing, prior preferred (quar.) —
Cutler-Hammer, Inc. (year-end)
Dairy League Co-Op. Corp., $5 pref. (s-a)__
■M-
60c conv. pref.(quar.)
50c t
12-15
12-22
2'/2C
5c
. 15c
(quar.)______
Extra
25c
Crucible Steel Co.
'A
Fox-St. Louis
.Fruit of the Loom, Inc.. preferred (year-end)
Fuhrmann & Schmidt Brewing (year-end)__
1
12-10
Crown-Zellerbach Corp.
Crown Drug Company, common—.
Crown' Trust
,
62 VaC
25c
12-26
12-12
t75c
Properties, $3 preferred______
12-20
(quar.)__
preferred
Hubbell (Harvey)., Inc. (quar.)
12-22
25c
25c
,
____
__________
1-2-42
■
Publishing Co. (quar.) —
Crown Cork & Seal Co., Inc., com. (year-end)
J
$2.25 preferred <quar.)__—___________
(Peter)
25c
30c
$l'/2
12-31,
45c ,12-20
62'/2c
1- 2
50c
12-20
$1
1-15
Houston Oil, 67o
1-2-42
1-
,150c
Special on common
b'/v. preferred (qu&r.)
r
50c
«oc
.
...
(year-end)
Class B
12-15
t$l%
,
50c
.
.
(quar.)
Household Finance Corp., common
12-15
5c
$2
—
pref.
Brewing Co. (quar.)-_
Inc. (extra)
Houdaille-Hershey, class A
12-31
12-15
& Son
(A.)
Herder's,
12-31
------
West 6th Co. (annual) —
Corp., $7 conv.
$1%
Copper Range Co. (year-end)—
r(6Copperweld Steel Co;, common—
f.
5% convertible preferred (quar.)
Cranberry Corp. (irreg.) __
.^_
Crane Co., 5'% preferred (quar.) __——
Creameries of America, Inc. (quar.)_:
Creole Petroleum Corp.———————^.-_-
12- 1
12- 5
12-20
t25c
t25c
—
—
Foresight Foundation, Inc.—
■A Non-cumulative class A-(s-a)—
$1%
v
Crowel'l-CoUier
At; Class B
$1%
$1%
'
12- 5
12-15
(annual)
(Canada), class A (quar.)__
Ford Motor Co.
12-31
50c
—
12-15
Co. (year-end):.—
Tire & Rubber
25C
—
Continental Assurance Co. (quar.)
12-12
2
1-
5
1-15
2
2-
$1%
(quar.)
preferred
$7.50
•
12-13
50c
50c
8c
Flinlkote Company
25c
$4.50 preferred (quar.)
—$l'/8
Florida Portland Cement, V/o partic. pref.__
t$7
Florida Power Corp., .7% preferred (quar.)__
,87V2C
Foote-Burt Co.
50c
7
12-26
2
12-13
12-31
67/aC
preferred (quar.)Fireman's Fund Indemnity (quar.)
5Vi%
12-26
2-
12-31
15c
10c
—
_
___
8
12-15
15c
10c
(quar.)..:
t25c
$iy4
*
v
B
Extra
I
12-
12-18
$1
Extra
Class
11-29
; 12- 4
12-18
$l'/2
—
(Cin.) (quar.)^i
of America, class A com. (quar.)
Finance Co.
12-18
;
<
2nd preferred' (quar.)
Union Trust Co.
6%
5
1-
1-
Consolidated Edison Co. of N. Y., common..
$5 preferred (quar.)
Consolidated Film Industries, Inc., $2 pref.
Consolidated Gas Co. (Reading), (irregular)
Consolidated Investment Trust (quar.)——
v
11-29
75c
415c
(quar.) .
Consolidated Bakeries of Canada. Ltd (quar.)
Consolidated Div. Stand. Secur. Ltd.—
Light & Power
Connecticut
i
Fifth-Third
4
12-
12-18
$iy2
6% preferred (quar.)
12-13
12-18
25c
50c
25c
Federal-Mogul Corp.
1
12-26
$iy4
80c
75c
,
'
50c
50c
60c
_______
(year-end)
Holophane Co., Inc. (irreg.)________________
Home Fire & Marine Ins.. Co. (Cal.) (quar.)
Home Insurance . (Hawaii), (quar.)
Honey Dew, Ltd* (quar.)_____—
Honolulu Oil Corp. (year-end)
Honolulu Plantation (year-end)
Hooker Electrochemical Co., S'/o pref.(quar.)
3-18
1
4-
26c:
—
—
Hollander
111-14
12-20
25c
Metallurgical Corp. (resumed)
$5
preferred
(quarterly)—Federal Bake Shops, common (year-end)____
5%
preferred (s-a.)
;—
_______
t Extra
6
(quar.)
Furnace Co.
Holland
8
12-
''25c
Fansteel
Federal
12-
12-27
37y2c
Candy Shops (quar.)
Extra
,
l$4
\
preferred (s-a)
6%
11-29
'12-29
1- 2
(Canadia) (increased)
Hinde & Dauch Paper
12-15
11-29
12-26
12-16
12-20 A 12-10
12-26,t 12r 4
12-26 A, 12- 4
4 12-15
12- 5
.1- 2 .12-15
,12-15
12- 5
^18-15
12-12
1- 2 4 12-13
12-15
12- 5
12-. 5
11-29
75c
15c
.
Bartlett.Co., (monthly)-,-
Hibbard, Spencer,
11-29
■
12-23
20c
50c
t5c
3c
* 15c
Morse
Common
'
'SV\ Congoleum-Nairn, Inc. (quar.)______—
87V'2c
25c
preferred (quar.)_^____
Co. (Syracuse) (yr.-end)
Brewing Corp.,
.
Commonwealth
;•
' '">;A Ap;J\ A?A
12-15
$62y2c
12-10
Canada, LtdH-",'-Vl
non-cumulative class A (quar.)
$3
:
When Holders
Payable of Rec.
Per <
Share
'■
A -.A:-
A
'.;A A-.v ' Name of Company ■
Hewitt Rubber Corp. (year-end)
of Rec.
m
Payable
Share-
>
,
English Electric Co, of
6-4-42
1-18-42
A' '25c'--.
4
12-
12-18
25c
Ltd., com. (resumed) —
Additional on common
Cpeur d'Alene Mines (initial)
i.—^
Colgate-Palmolive-Peet $4.25 pref. (quar.)
(Colt's Patent Fire Arms (year-end)
—
Cockshutt Plow Co.,
Name of Company
Holders
When
Per
When
Per
pAA/pAA-;,A'A'A, '-'AAV-U'AA-o'i
A'+V^v/A
12-31
11-21
12-12
12-1
20c A . 12+20 i 12-6
30c
12-19
AA $1
12-24
12-1
12-11
> /
v ; A > • ? 12- 9 A 11-18
'
Volume 4 54;
Number 4016
Per
Name oj-Company •,>■'.
'
%
_
Lincoln
Petroleum
Common
■
i
*'• "••,.>•
Common
■
Mountain
12-15
12-1
12-20
12- -6
12-10
11-24
.
12-31
12-20
t$5
12-26
—
$2 V2
1-
18-/5
10c
12-15
12- '1*
37y8c
12-23
11-29
25c
1-27
11-29
12-23
12- 6
$1%
12-23
lc
12-16
1-2-42
12-15
11-25
MacKinnon
&
.National
12-15
12-15
3c
12-10
11-26
t$l>/4
(irregular^-—
Drilling Co.
Steel, 7%
12-15
11-29
:
$2
12-10
11-28
$5 preferred
12-22
12-29
30c
12-18
pref.
conv.
Mack
Trucks, Inc.-(year-end)
Magazine Repeating Razor, com.
•
$5 preferred
■
(quar.)
...
.
(quar.)
55c
Z
City
12-22
12-
8
8
National
$1
12-15
11-28
12-15
11-28
25C
12-26
12-15
(quar.)_»
1-
2
1
3-24
f43c
1- 2
10c
12-15
25C
12-15
11-29
12-15
11-29
(quar.)II_I
33y3 %
15c
Class 3-
:
National
12-26
12-15
12-15
*.
11-29
.i.
-7Vc
11-25
I,
6%
—
',2
1-
2
12-20
National
Standard
1-
2
32-15
National
Stfeel
12-15
National Steel
Marchant Calculating Machine Co.
♦.'Extra' ,/ia'i—4—*——Marion
Mfg.
Marshall
&
37V2C
—
!(irreg.>„———
Co.
Ilsley Bank
12-19
12-19
Masonite
Corporation
Massachusetts
Plate
7C
12-15
11-29
32-18
12-
25c
(qunr.)————
Glass
Ins.
Master Electric Co...
Co.
12-10
50c
(s-a)—
pref.
•
1-
60c
(quar.)
$6
12-31
12-20
12-
12-24
5
Co.
Corp.
12-24
12-24
12- 8
m.n
1-2-42
N.
12- 8
25c
37y2c
———
,
McKenzie Red Lake Gold Mines, Ltd. (quar.)
McKesson •& Robbins, Inc., common (initial)
11-
!
50c
1- 2
12-15
J50c
1-15
12-31
(quar.)
Co.,
6%
prior preferred—
75c
I
prior
-
preferred
McCrory Stores Corp.
McGraw-Hill
f
€"%
12-29
60c
5%
»
Publishing Co.
Ltd.,
partic." preferred
conv.
Mercantile
■
12-12
15c
(year-end)
i
Metal nk
(Dallas)
w*
Machine Co.
-
——
pref.
...
(quar.)—
.
$7 prior preferred
A
$5 preferred
25c
& Trust Co.
Loan
&
Savings
2
-(Port
r
.
4».
12-15
50C
12-36
\
12-
$2
12-' 1
t25c
12-15
$2
12-20
45c
12-15
Midwest Oil
Company
12-15
11-15
(extra)—
50c
12-15
12-
15C
12-10
11-28
(quar.)—
50c
12-10
11-25
12-10
11-25
-BH
preferred ts-a)—
Midwest Piping & Supply, common
Minneapolis Brewing Co.
Minneapolis-Honeywell Regulator
:
—
..
!
12-10
Minneapolis-Moline Fower impienrent
^
$6
.
(quar.) —
preferred
t$6ya
8
$1%
Mississippi River Power, 6% pref. (quar.)
Mississippi Valley Public Service, common—
6 Yo preferred B (quar.)
—
Missouri Portland Cement,(year-end)
——
)
s
Missouri Public Service (year-end)_^—
Mitchell (Robert) Co., Ltd;, (year-end)—
|
Mock, Judson, Voehringer Go.
(
Modern Containers, Ltd., common
}
Mobile & Birmingham RR.,
4 % pref.
Modern Collet & Machine Co.
1- 2
12-15
1-
$iy2
.
$1.75
25c
;
$2
12-
(quar.)
IOC
12-20.
:
120c
—
11-
tlOc
■*.
5l/a Vo preferred (quar.)
«1%
Mohawk Carpet Mills, Inc.
2/
f
•'
.
Co",
Utilities
Co.,
prrifT
S3
12-10
32-
1
12-10
12-
1
1
I30C
;
12-15 /I
12-
IOC
12-29
12-15
$1%
.
common
preferred "(quar.)———————
5% preferred (quar.)
—
:—
Montgomery County Trust Do. -(N. Y.), (s-a)
Montreal City & Dist. Savings Bank (quar.)
12-29
-
$1%
v
/
12-29
12-15
t$3
1- 2
12-15
1- 2
.12-15
•
Montreal Cottons,
7% preferred
Montreal Loan
'
1
Montreal
Ltd., common (quar.)
m
—
—
131V4C
;
V
11-29
-
12-15
7f/preferred
-11-29
B
niv*
40c
■
'«6% preferred" (iniital)
12-16
;
40C
$1%
■
12--4
1-1-42;
$iy2
12-31
II-30
11-20
11-30
11-30
11-20
j
of
12-20
I|ark(& Tilford^ie^
5 7o
Elec.
Gas, $5 pref.
11-14
1-15
12-15
12-15
11-14
11-14
.
Oil
***__fe*Ufe
Co.,
12-10
12-22
11-
75c
12-10
12-10
50c
12-16
2-28
25c
3
2-
12-24
12-13
I2c
11-28
12-
12-15
50c
1-
2
12*32
;
12-15
87(46
$2 preferred
12-
12-24 7.12- 1
$1
$1(4
(year-end)
1
11-28
2
12-16
'
50c
1-8
12-18
50c
12-11
11-20
1$1
1-2
12-17
87V2C
1-2-42
12-26
t$3(4
12-15
11-30
•
—
pref. (accum.)
12-10
common
—
30c
20c
•/Remington Arms Co.,
•67o preferred (s-a)
12-15
11-21
^year-end)
20c
12-23
12-10
$3
12-15
12-
—
12-15
11-29
12-15
11-29
Remington Rand,
$4.50 preferred
12-15
11-21
5
Republic Investors Fund, Inc., 6% preferred
Inc., common
(quar.)
(interim)—
25c
j
12-15
11-29
Republic Steel Corp.,
12-20
12-10
15c
12-20
preferred
Additional
1- 2
12-15
(quar.)
on
common
A
shares
Richfield Oil Corp
Richs
Inc.,
*___**
6%7c- preferred
12-15
Ritter Dental
1$ 1 (4
I- 1
25c
12-23
12- 9
11-29
12-13
12-1
7%
1
12-15
25c
Russell
Manufacturing Oo.
Ruud
11-22*
70c
12-10
12-
St. Croix Paper Co., 6% preferred
St. Joseph Lead Co. (year-end)
12-31
12-31
12-20
1- 2
12-15
12-20
$1
12-19
12-
12-20
12-23
12-
$1
1-15
12- 9
f 75c
,12-19
12-
1
12- 1;
12-
12-19
12-10
12-15
12-
1
12-19
12-
4
120c
12-26
12-10
t$l°4
12-26
12-10
Mfg. Co.
37 (4c
12-15
25c
—
12-15
-(quar.)——
(s-a)_—_
$3
50c
St. Lawrenoe Corp., Ltd., 4% class A conv.
7* preferred (accumulated)
___*_j- ••
4 7o class A conv. preferred
(accum.)!
St. Lawrence Paper Mills Co., j"7
7
67o preferred (accumulated)
1-
1
11-29
12-
5
2
12-22
12-10
11-28
■
=
125c
1-15
1-2
t$l
*
12-32
12-10
1$1(4
12-22
12-10
175c
27c
St.
;;
2nd
preferred '(s-a)
Louis Union
(Quarterly);'
*
Trust
Co.
(Mo.),
1-2
12-23
12-15
$1%
;
1-15
$3
.7:
1-2
1- 2
12- 6
;
•.7 25c
tm
8
$1
12-15
1$4
12-1
50c
8
12- 6
12-16
,
12-15
(year-end)
(year-end)
12-15
12-15
$3y2
12-16
v.
$1 (4
Industries, Ltd., common (quar.)
preferred: (quar.) _**_^_*__***i._/
10c
$314
7:
12- '6
RusSell
12-
1$1 (4
::C.
25C
12-20
•
1
12-
12-30
25c
12-15
1
12-10
12-22
Manufacturing, common
(quar.)—
1-2-42
12-15
1
$1%
preferred
5C
50c
2
12-10
1-
12-15
62 (4 c
—_—_
10c
1-
1
15%
(quar.)—
Rollins Hosiery Mills, conv. pref.
Roosevelt Field, Inc. (year-end)
Ruberoid Co. (year-end)_
10c
12- '5
1-
15%
11-25
'
12-22
25c
Robertson (H. H.) Co
50c
12-10
50c
common
——————————
11-25
12-15
1-15-42
12-20
$1(4
1- 2
-
2-1-42
3c
_*.____•
$1(4
1*1
30c
12-10
12-10
2-1-42 1-15-42
,15c
-:
,
67c
12- 1
.
B
67c
11-25
12-15
15c
67c
2
1-2
Republic Petroleum Co.
11-25
12-20
1-
$1(4
prior preference A (quar.)
,._*
preferred (quar.)
——_*****—
Rheem Mfg. Co. (quar.)
Rhokana Corp, Ltd., ordinary (final)*—
-
11-28
1-1
11-29
1:
12-15
1-1
12-15
"
5
12-19
11-28
$1(4
12-12
-
12-
2
$1(4
12-22
:
1-
12-15
:
6%
1
12- 5
12-20
12-11
12-11
12-15
25c
*_—
—
12-24
12-24
convertible
Reliance Grain Co., Ltd., 6% %
Reliance Insurance Co. (s-a)
1
12-
11-28
$la/4
.
12-10
12-15
11^28
12-19
12-20
50c
,
11-28
12-15
12*19
2
$1%
——
(quar.)__
"/Reading Co., second preferred (quar.)_
Second preferred (quar.)—
Real Estate Loan Co. of Canada (s-a)
Reed-Prentice Corp., 7 7c preferred (quar.)
12-10
12-20
1-
45c
57c
■
11-14
12-15
50c
.
Ltd.,
(quar.}
12-15
12-15
$1%
(quar.)
12-15
(yeax-end)_
conv. preferred
11-29
11-28
$1%
&
,Quaker State Oil Refining Corp.
,
/•"
(s-a)-.*-**..
12-15
12-19
pref.
..
12-1
12-22
12-22
$30c
'
Co., (Hartford)
11-28
11-29
50c
Oklahoma,
12-15
Aii-. /
4%'preferred (quar.■)'
Park State. Trust
11-28
12-15
$1(4
(monthly)
(quar.)..
Co.
Common non-voting (quar.)
77c first preferred (quar.)_
Series
(quar.
11-20
12-15
$2
Rayonier, Inc.,
1940.
Paraffine Companies, common
11-20
Service
accrued
(s'-iai
12- 5
$1%
!
pref. (quar.)_
preferred (quar.)________
Pyrene Manufacturing Co. (year-end)
Quaker Oats Co., common (quar.)
6% preferred (quar.)
5
25c
<&
preferred
57c
1
40c
Page-Hershey Tubes, Ltd. (quar.)__^
Pant, American Airways (resumed|________
Pan/ Amerioan Petrol & Transport Co, (year-
11-30
12-15
12-10
12-31
SOc
(quar.t—.
Quebec .Gold Mining, Corp., Ltd. (interim)
Raybestos-Manhattari, Inc. (year-end)
12-
$iy8
1$234
.
Storage, Ltd.—
$3 preferred (accumulated)Moore (W. R.) Dry Goods Co.
(quar.l
Morgantown Furniture Co., com. (initial)—
Refrigeration
12-15
Z12-15
t$l3/4
(quar.)—_—_
(quar.)
& Mortgage
5
11-25*
8v2c
(quar.)—*__.
12-15
-
(s-a)
12-
1-15
12-15
30c
43 % c
1st preferred
Packard Motor Car Co, (resumed)
Pacolet Manufacturing Co., common
7 % (preferred A (s-a)
12- I
12-19
$1(4
12-31
12-15
1-1
12-15
12-15
Hampshire—
18 %c
fe
11-25
11-25
12-15
(quar.)
150c
Clay Products
New
12-31
(year end)
Pacific Coast Aggregates,
Pacific Indemnity Co. (quar.)„„__„
9-30-42
12-23
8(4c
*
12-31
■
ti
$5
;
$$1
•
Pacific
y
6-30-42
12-23
15c
(Phila.), <orig. t(tock__
of
1-31-42
4-30-42
$1 (4
$1%
$1(4
Paauhau -Sugar Plantation ' (year-end) _____^'Pacific & 'Atlantic Telegraph Co. (s-a)
12-15
8
2-15-42
Detroit—
35c
Overseas Securities Co.; (resumed)
2
12-
$1%
__________
75c
12-
11-28
12-22
$1(4
$iya
(quar.)
Co.,
12- 2
12-20
20c
$lfl/4
(quar.)
Power
12-23
11-29
12-15
Sav. Society of
115c
&
11-21
15c
12-5
43 3/4 c
(quar.)
••5^> preferred ;(quar.)
12-10
12-15
1(4%
(quar.)
12-
12-15
Extra.'
Light, " Heat
11-29
IOC
12-15
25c
15,
June
1
1-
12-22
15c 7-15-42
(quar.)
12-20
$1%
and
12-24
10-28
12-16
30c
1
Co.
12-22
12-20
(year-end).
11-28
12-18
1- 1
'
$1
(quar.)
conv.
12-15
12-12
10c
(monthly)
Extra
12-10
50c
'Otte'we Electric Rtrilway (quar.3
Ottawa
&
preferred
preferred
Pure
12-10
$iy2
dividends
15
12-19
12-19
40c
(quar.)
$5.50
12-31
1-2-42
15c
7 7c preferred
Publication Corp.-*-
9
$1(4
"'
12-20
12-*
6 Vo
(year-end)
quarterly
.
'$3(4:
;
50c
common
15&&
•
March
.
12-20
1- 2
$1
MShfei^ia^
Montana-Dakrota
«
■
i2y2c
—
Corp. of America
Monarch Mills, (semi-annual) ———————
Molybdenum
r
'
preferred
Represents
12-20
f
6%
Otis Steel Co.,
12-10
2
12-
12-10
$1(4
—
'
12-12
$2
2c
preferred
1-15
I- "2
25C
Common voting (quar.)
(year-
(quar.)___
Elec., 6% pref. (quar.)__
(quar.)_
-
1
1$1
preferred (quar.)
preferred (quar.)
Co.
Service
^
12-10
75c
common
I
*._____*—________
preferred
$5
12-10
11-29
1- 2
(year-end)
(year-end)
Otis Elevator Co., common
1
————
12-19
12-19
1- 2
&
preferred
12-10
11-28
1-
2-
a2(4 %
Original preferred (quar.)
Pullman, Inc. (quarterly) —
common
(quar.)_^
participating preferred (quar.)_
Orpheum Building Ce.-__
1
12-
12-10
ap-
7%
11-29
2
11-21
each
preference
Omar, lrrcH
Oneida, Ltd.,
12-15
1-
12-18
12-10
75c
$3 preferred (quar.)
$5.50 conv. prior preferred
5
I2yac .12-10
—
—
12-20
1-2-42
75c
Co.;' common
Gas
1
12-12
25c
;.
'preferred
Public
•
Co.
Oklahoma Natural Gas,
12-10
11-26
: a.2-15., 12-1
4$1
7%
;
6
2
prior
Oklahoma
50c
Columbia,
stodk
Public
71 %c
common
1
12-12
15C
Insurance
5%
Service
/
67o
'
'
20c
,L._
Tube,
Co.,
2
$1%
"
prior preferred (quar,)
QVo preferred (ouar.)
Ohio Match Co. _L_
Seamless
I
12-
12-22
2(4C
(year-end)—
Alexander, Inc._
Accident
preferred
;
€%
....' 7%
12-
$5
(Toledo)
12-
12-12
$1(4
(quar.)
Finance
12-20
12-
Co
2
12-22
*7(. $37
;
Common
pref.
12-30
Sijgaf ,Co., -Ltd.
2
1-
$ 1 (4
$5 .preferred (quar.)—
Service Coip. of New
Jersey—
(reduoed)
'
12-
12-
5%
Ohio
12-15
.
4
75 c
Citizens Trust Co.
12-20
.
12-15
-11
«.
(s-a)
—
I-2-42
$1
12-
1-2-42
$1%
—
f
12-15
$1%
$lVa
———*
11-29
12-10
1-
$1(4
$1(4
Public
11-20
12-10
'
11-26
12- 8
12-15
12-19
12-16
B^yeartend)
prior preferred
$6
'
11-29
12-
t$9(4
Ohio Ofl Company, common
6'% preferred (quar.)
Oo.-^.
convertible
preferred—^
Minnesota Valley Canning, 5% pfd. (quar.)
Mississippi Power Co. $7 pref. (quar.).*—
$6.50
6%
Public
.
11-15
I7V2C
"'
•
*'
12-15
12-12
12-11
&
Cashable
6%
for
11-25
1
15c 10-15-42
Common (quar.)
Public Investing Co.
12-12
xn
(s-a)____.
stock
12-10
_______
Provident Loan
-
held, subject of
'Ohio
11-15*
4C
preferred
(initial)-———
(s-a)—————
Edison
common
Ohio
32-15
1- 2
J40C
convertible
1- 2
15c
53/4%: preferred f(quar.)
r Oceanic, Oil.
25c
Corp.,
Co.-
50c
■
Prosperity
12-12
50c
; proval of SEC)__
'B'%; preferred "(quar.)
i Oahu
•
Midvale Co., new common
1- 2
tl5C
$6.50
British
7
.
1
$2%
Lines,
8
Proctor & Gamble, 5 J/2 7c
II-28
$2(4
Ry. (extra).
(stock)-^
Northwest Engineering
-
Midland Gil
12-
12-15
75c
Hope,
'^'v. Ont.), (s-a) j—-L—.——
.
shares
*'Common
12-
12-22
12-15
$1
$2(4
North American Rayon Corp., com.
A,
12-15-',
12-10 ^ 11-28
12-10 '• 12- 5
•> 20C
.
•
Western
North American Co.
12-15
15c
1-15
i$9 ya
(One share Detroit
(Philadelphia),
Co.
Norfolk
..
12-15
15c
11-15
2- 8
mvkri
1
Northwestern- Telegraph
'(
12-15
1- 1
1-1
1- 1
$1%
$1% --1- 1
12- 1
fquar.)
v
12-
1
15c 5-15-42
'
Greyhound
1
12-18
$2
Preston East Dome Mines, Ltd.
•
12-15
11-28
_______
".-.Norwich Pharmaoal Co. (irregular)
No-Sag Spring Co. (irregular)
12- f
1-2
-
1-2
12-15
.
(year-ehd)___
12-
HOC
"PowdreU
Co.—
*
12-
12-20
com.—
—
Preferred
11-12
12-20
75c
12-10
1
3
12-
77"
12-
$2
12-
25c
12-16
87'/ac
12-20
12-10
12-20
(year-end)
Oil
(quar.)
dividend
Stock
12-15
25c
12-31
$1%
-
Co.,
2
1-15
$15
(Pollock Paper & Box Co. -7% prel. (quar.)_.
2
1-
12-20
14c
•77 16c
(interim)
Plymouth
►
12-10
$1%
>v;
,
12-2
$1%
.
Midland
12-
$1%
Middle1^?^^ CofpT'l.—
'
Northland-
.
12- 2
12-17
$1%
Ry.
North Central Texas Oil
12-/2
is-
1-
Western
Tool
12-15
common
12-J5
1-
1$1%
.
$6 se<?ond.;prefetred
(.
50
__
'
;
&
12-23
13c
___;
$6f ir^-'pteferred- A
-
12- 2 /
1- l-.,<
;•
•
11-21
60c
North American Car Corp.— :-
.
Michigan Steel Tube Products (year-end)
' Micro ma tic -HoneCorp..——-
Mid-City Bank
1
12ri6
1-51
;
•'Norfolk
1
11-21
12-13
60c
(year end)
11-20
\:i
$1%
'
•
12-
12-
.
Plomb
Common
(year-end)
(initial)
Nlpissing Mines ,Co.,\-Ltd. '(interim)
Noranda Mines; Etd.
(interim)
•
Glass
2
stock
(quar.)_.
of
11-28
12-15
1-
75c
Common
12-10
12-15
12-27
.
Common
Niies-Bement-Fdnd Co.
..'f
Plate
11-29
convertible
.
12-12
12-10
$1%
Michigan Associated Telephone Co.
r
preferred (quar.)
;——l
7 Michigan Public Service .Co., 7% pref. (quar.)
; •
<6%
preferred Iquar.),,
————
6'%.. series.-of 1940 preferred (quar.)_
;*
$6 jmxior preferred'(quar..)*^--_L----—__
,
12-23
$1%
.
Miami Copper Co.; (year-end)
s
12-23
$iy«.
•1
(quar.)————**,
(quar.)
12-29
.1- 2
75c
12 %C-.. 12-10
uv*
„.——
;
12-23
/
_———„———
r"
12-29
50c
——
—
6y2% preferred.
(s-a)
Mines
12-15
11-22
$2
$1
(quar.)__
Ltd., Amer. shrs.
Mines
4
1
12-16
62»4c
Screw & Bolt—
"Pleasant Valley "Wine Go, (year-end
-
$2
12-
$1
A
& Lake Erie RR.
13-29
10% preferred, (s-sa)
r
New York' Merchandise- Co.
•'
12-26
*
12-15
(s-a)
12-15
'
12-20
$iya
12-12
$1 (4
Brewing Co., $3.50 preferred
Forgings Co. _____—***_„fe*—
12-15
.
12-15
25C
—
————.
(year-end)
1irregular)
12-31
12-20
11-30
12-31
5
12-15
110c
Pittsburgh
Pittsburgh
Pittsburgh
Pittsburgh
Pittsburgh
175c
:-.a,
New York Air. Brake Co.
''(year-end)
N. Y. & Harlem RR. common
30c.;
25C. "
12-15
Gold
187j/2c
preferred (quar.*)
New River, Co.; 6 %
preferred
1- I
$1%
25Cf, 12-40
$134 f-r. 12-22
V
———*_—__*—
Thermit Corp.,. 7%
Common
•
12-31
$iya
■m.
(extra
Metropolitan Edison Co., $6 .preferred (quar.)
$6 prior preferred (quar.)—
$7 preferred fquar.)-.
—
?•
$5
12- 4
11-30
50 c
'
12- 1
1
1
12-15
5
-ife'Vi!
:
11-29
v
".
(year-end)
11-25
12-23
11%
(s-a)
Meteor Motor Car Co. -(quar.)—
•
Common
12-26
12-15
50C
—*
'■%% preferred -(quar.)
«
J30C
*
,
1
12-
25c
Newmont Mining dorpv (year-end)
Newport News Shipbldg.-8c Dry "Dock
•1
12-
12-15
,Pioneer
Y. «fe Queens Electric
12-26
/
3
12-10
25c
Bank" (Chicago)
Inc., common
Messer Gil Corp.
cMesta
1-
12-15
25c
Clock Co.,
New Haven Water Co.
,
12-12
1-8
y
t30c
,
"
1st preferred
National
(
i*
;
(resumed)
common
Merck & Co.,
Extra ,.\
(•%
12-23
130c
(annual)
com.
(accum.)
Merchants National Bank
■
12-12
12-23
12-15
$3%
+2 (4c
Gold
12-10
12-
$17
:./„
Crow
2
12-
■■
$1(4
(quar.)_____
Pinchin Johnson,
12-16
(s-a)
1-
12-10
12-16
"(year-end)
Extra
Pickle
2
12-16
25C
pilgrim Trust Co. (quar.)
12-1
12-16
t$3.43%
1
1-
25c
•Phoenix Securities
Corp.,
$3 convertible preferred
12-1
12-29
(year-end)
New Haven
1
Distilleries, Ltd.
Mengel Co.,
■■
12-23
Corporation, common.'.——.—.—
lielehers
i
12-
Participating preferred,(s-a)
( Mead
•
12-15
(quar.)
McManus Petroieums,
;
12-1
12-12
25c v12-12
t$3%
Light & Power Co.—
<quar.l'_—
!
Newberry (J. J.) Co. (quar.)
New England Fife Insurance Co.
(quar.)
New England
Telephone & Telegraph Co
12-1
12-20
$1.31(4
—-—-
12-15
25c
5% % .preferred (quar.)———
f.
f3c
25c
25c
/
5
(quar.)*
Common
1
5
12-
(quar J
com,
.
,
1-16
.
Mclntyre Porcupine. Mines, Ltd., extra
.
12-
1
12-
11-21
30c
Philadelphia Co., 6% preferred (quar.)
$5 preferred (quar.)
Philadelphia Dairy Products, 1st pref.(quar.)
2nd preferred (irregular)
Philadelphia Electric Power, 8% pref. (quar.)
Philco Corp, (yeat-end)
Phillips Pump & Tank Co., class A
(quar.)T_
12-15
12-23
(s-a)—-
Pet Milk Co. (quar.)
^*—»_*__
Petroleum COrp. of America (year-end)
Phelps Dodge Corp. (year-end)
,
I-16
L_
Supply
.....
12-10
2- 2
(quar.)
Corp.
-New Jersey Zinc Co.
'
2
2- 2
prior lien 'preferred.—
prior lien preferred
$7
12- 8
1-
12-20
12-23
Nekoosa-Edwards Paper Co., common
New England Public Service Co.—
11-15
2
8
Extra
■
2
SI3/*
—___________
Mathieson. Alkali Works, 7%
V
Common (quar.-)^*
12-15
20c
-
12-
12-20
t38c
$1%
Nazareth Cement Co., 7CJ»
preferred
Negus Mines, Ltd. • .irregular)
Neisner Brothers '(quar.)"__
12-15
—
Masco Screw Products (year-end)
.
5 V2 %
/
12-10
'
8
$1%
•National Transit Co.
12-31
12-
preferred ;A.(quar.)
preferred B : (quar.)
National
12-5
$iya
12-20
35c
12V2c
15 c
—
12-1
40c
12-20
12-31
12-15
(quar.)__
12-15
12-19
11-20
35c
preferred
■Extra-;/
4
$iy«
&
1-17
12-15
(quar.)
12-27
«
1
'
20c
Co;, 6%. preferred (quar.)_
f! 6% 2nd preferred (quar.)
{ Maryland Fund; Inc.
•
—————
;
12-
12-4
s
2-
12-
12-15
12-15
70c
•stock for each $15 in
dividends)
Perron Gold -Mines, Ltd. * (quar.)
—*,««
1-17
75c
12-15
30c
10c
at the rate of one-half share of
,
1
1
5-5-42
25c
•
Peoples Gas Light & Coke Co.
1-20
20c
preferred
8
12-15
5-14-42
$1%
(N. Y.)
1212-
50c 1- 5-42
t$l(4
12-12
12-10
12-15
35c
Perkins Mach. & Gear, common—
77c preferred (payable in common
11-29
50c
$5
t
11-29
12-15
2-
(year-end)
$3V2
(Milwaukee)
(s.-a.)
"Marsh Wall'Products, Inc.*****—
Marshall Field
12-24
$1
■
50c
(quar.)
——
2
12-15
__j
Car
•
1
50c
(quar.)
Extra
50c
■
12-
~™
(year-end)
RR.
11-29
7
12-20
75c
Pennsylvania Salt Mfg. Co. (year-end)
Pennsylvania Telep. Corp., $2.50 pref. (quar.)
Pennsylvania Water & Power, com. (quar.)
12-10
"~"3
-
$1.50
$l3/4
(B.): & Co,, 7% pref. (quar.)
Mapes Consolidated Mfg.. Co. (quar.)———'EXtra'"'**
_****•
—_„___**_
12-22
12-10
12-24
25c
Z
■
Corp.
—
Grocers,
Manischewitz
+5C
40c
—
2-
,
25c
i*_
Pennsylvania
11-29
12-15
12-24
MfXSi % preferred (quar.)
12-10
i
I
■
Common
8
1- 2
1$l3/4
1$1.50
■
12-16
12-
4-
Dairy Products (quar.)
Funding Corp., class A
$1%;
_
12-15
$1
(quar.)
preferred • (quar.)
—
Malar tic Gold Fields, Ltd. (interim)——._—
Mallory (P. R.) ■& Co. (irreg.)—
f;
1-15-42
Extra*___z
12- 6
11-20
I
12-15
25c 712-18
Pennsylvania Glass Sand Corp.,
11-14
$1
;
<
12-20
150c
(quar.)
Pennsylvania Exchange Bank
7
4
t50c
.National Gypsum Co;
(yearrend)^
National Lead Co., common
.12-26
75C
,*.——
i
12-
(quar.)—
common
(quar.)
(quar.)_^_,.
Container
National
12-
a
,—
11-29
2
40c
,
Unes
$3 preferred
12-22
15c
—_—
7%
Class 'A
25c
'
1-
40c
Extra
■
11-29
SI1/*'.'-
(year-end)
—————
Magma Copper Co. (year-end)—
Magnin (!.)' & Co. i(quar.l
.**
Magor Oar dorp., common (quar.)
-Extra,
.
12-10
7
50c
/National
.
12-31
of Ree.
12-15
12-
$1%
Penn-Dixie Cement, 7% preferred A
Penn Electric Switch,
$1.20 pfd. cl. A (quar.)
Pennroad Corp.
(year-end)
Pennsylvania Edison Co., $2.80 pref. (quar.)
,
National Chemical &
Mfg. Co.
11-29
i 12-31
1-15'
$1 Va
7year-endi
/■Stock dividend
$8c
;
12-18
1-15
50c
12VSC
'
Oil
12-27
3c
-
pref.
12-10
Holders
12-30
25c
Penick & Ford, Ltd
;
Peninsular Telephone (quar.)
/
Preferred A (quar.)
12-10
12-15
$i"%
-'
12-22
s
1371
Pay'ble
25c
Peerless Cement Corp
:?
1
Chicago (quar.)
f3c
MackinnFe
12-
50c
-
_
National Brush Co,
(quar.)_^
National Casualty Cb.
(Detroit),
12-15
11-26
-Quarterlyi.--.AA—
National Breweries, Ltd.,.
7% preferred.dquar.)
11-24
$3
Telegraph Co. (s-a)
_M. J. & M. fe M Consolidated (semi-annual)
Macassa Mines,; Ltd. (quar.),—-——————...
(quar.)
<:
12- 5
12-15
25c
—
—
_•*_—-—
Abington
common
8(«
«
11-28
12-15
12- 1
12-15
$2
Battery Co., $2.20 conv.
National Biscuit
Co., common.^
1
12-15
12-13
$2
When
Share
7%
(
11-14
35c 1
(St. Louis) (quar.)
Co. of Am., 6% pref. (qu.)
Systems, Inc.,
-
6
50c
National Bond & Share
Corp.
•National Boulevard' Bank of
1-2-42
(quar.)
.7''7;>
& Reel $.50 pre!. (quar.)__
Manufacturing Co., Ltd., com. (quar.)
preferred ./quar.)
Peabody Coal Co., 6% preferred
Peck, Stow & Wilcox Co. (year-end)
9
11-19*
•
,.,
Paton
12-
12-
Nat'l
12- 5
$4
12-23
■•7;/.
Parkersburg Rig
12-10
15c
div. in company's new fiscal
year
Nash-Kelvinator Corp.
National Aviation Corp.
(irregular)
12-17
12-19
$1%
12-13
40c
Name of Company
Appliance Co. (quar.)
Wolverine Company
Parker
'
'
First
12-11
$13A
(year-end)
12-29
2
12-15
preferred fquar.)
Myers (F. E.) & Bros. Co.,
„
2
12-
30c
-
11-24
12-19
30c
12-19
Parker
30c
Mutual Chemical
12-33
30c
T5c
fefe-V;/7,/.7',■
12--1
(tltah)__
Mutual
12-10
1-2-42
of Rec.
12-467
;/7 siy*.
Mutual Bank & Trust Co;
,
$1
$2
*'
Per
Pay'ble
■
$1 %
r
Producers
Muskogee Co. (year-end)
Munsingwear, Inc.
11-24
12-10
50C
(Del.), class A (quar.)
——,
Share
-
-
Holders
Corp. (s-a)__
Muncie Water Works,
8% preferred
Muskegon Piston Ring (year-end)
12-1
1-2-42
12-12
—
Co.
12-10
-
--
^
Royalty
Lynchburg &
■
Corp.^ (quar.)
Mountain Fuel Supply Co.
$1.10
Ludlow Manufacturing Associates (year-end)
Lunkenheimer Company 6(4% pref. (quar.)
Lusk
r
Corp. (quar.)____
;
City Copper Co. (year-end)_
11-29
—
Louisville & Nashville RR.
A
♦,
Wheel
11-39
tlOc
—
(<
Mountain
12-18
$1%
Co., common (year-end)——
7% preferred /quar.)
Louisiana Land & Exploration
.
Motor
12-12
(P.)
(quar.)—
Motor Finance
11-29
40c
•<
Class B
11-29
11-29
25c
__
-Louisville Gas & Elec.
Name of Company
MVttC
HVab
"
—
Long Bell Lumber, $5 preferred——.
Taylor, common (quar.)—
.'
12-12
i
37'/Bc
—
Lord &
'
/
12-12
,
Lone Star Gas Corp.,;(year-end)
v'
-
Morgan (J. P.) & Co. (irregular)
(John) & Co. (extra)
■f 11-20
12-12
25c
";25C
___!
(quar.)t;
Co., 6 ¥2% pref. (quar.)_—
Liquidometer ; Corp. :vfe****l*fe7*
:Little Long Lac Gold Mines, Ltd. (interim).Little Miami RR., original capital
Special guaranteed
(quar.)
;; Lock- Joint Pipe Co., common (monthly)
8% preferred / (quar.)
r'-
12-19
Morrell
6% participating preferred (quar.) ______
.Participating '*fe_j.!_7u__.:__*________-..,
7% prior preferred (quar.)'*______*.——
Lindsay' Light & Chemical, 7% pref. (quar.)
Lorrilard
When
0/ Rec.
Payable
■
3c
Link-Belt
j
Holders
(Washington, D. C.)»
;
<
When
.Share
■
(initial)
Lincoln Service Corp.
THE COMMERCIAL & FINANCIAL
CHRONICLE
<
12-23
12-15
50c
12-26
12-20
common—
—
.
•
Saturday, December 6, 1941
CHRONICLE
& FINANCIAL
•THE COMMERCIAL
1372
'
of
Name
San
5% pref. (initial)
Co.—
Savannah Electric & Power
8%
debentures A (quar.)
50c
25c
(year-end)
Common
$1%
$1%
5 Va% pref. (quar.)
________
(quar.)
Bchiff Co., common
50c
___
$4 preferred
(quar.)
(quar.)
Roebuck & Co.
Extra
-
Inc.
Brothers,
Seeman
(quar.)
Serrick Corp., class A
B
Class
Shattuck
Extra
(resumed)__—
(Frank G.) Co. (quar.)
12-10
12-15
60c
t5c
t$l%
$1
Mines
(interim)
—
Sherwin-Williams (Canada), 7% pref.(quar.)
Simmons Co.
(year-end)____________
Simonds Saw & Steel Co. (year-end)___—
Sherritt-Gordon
$1.80
(H.) & Sons, Ltd.,- common (interim)
tl5c
preferred (quar.)
—
4$13A
Siscoe Gold Mines, Ltd—..
—t2c
Skelly Oil Company (irreg.)
$1
Simon
7%
Steel
Sloss-Sheffield
$1 Vss
common
(quar.)
Extra
South
South
Porto Rico
'
preferred (quar.)________—______—
Southern California Edison Co., Ltd.—
6% preferred B (quar.)
__.—
Southern Colorado Power Co., 7% preferred
Southern Phosphate Corp. (year-end)
8%
Investors (quar.)
Sovereign Life Assurance Co.,
•'
tificates
preferred (quarterly)
preferred
7%
Standard Oil of Indiana
(quar.)
Extra
Standard Oil of Kentucky
Extra
(quar.)
——
(s-a)__
Standard Oil Co. of New Jersey
'
X Extra
(quar.)
(Ohio)
Standard Oil Co.
-
-
——
Standard Wholesale Phosphate &
-
common
first preferred (quar.)
non-cumulative second
6%
5%
Stecher-Traung
—,
pref.(year-end)
12-30
12-15
1- 2
1- 2
12- 9
12- 5
12- 5
12-15
12-12
1- 2
12-12
61
11-22*
12- 1
12- 1
12-15
1-13
12-20
11-29
12-15
12- 1
12-15
12-10
12-15
12-9
12-20
12-20
12- 8
11-22
12- 5
11-27
12-10
12-10
1- 1
1- 2
12-20
12- 8
3-16
2-20
12-20
12-15
12-15
12-15
12-15
12-15
12-15
12-15
12-15
12-15
12-15
1-15
12-10
11-15
11-15
11-15
11-15
12- 1
12- 1
11-15
11-15
11-29
11-29
12-31
12-15
12-15
12-15
12-15
12-5
12-10
12-10
12-10
Clothier,
7%
12-31
12-15
60c
12-15
12-31
12-30
12-15
12-29
25c
10%
a.
_
$1 V»
$1V4
t$2
$2VaC
preferred
Sudbury Basin Mines, Ltd.
Sun Oil Company (quar.)
Stock dividend
12-15
12- 5
12-1
12-15
12-15
11-25
12- 8
Oil Corp.—■
5% stock dividend on common—
Cash dividend on common__
5c
convertible preferred (quar.)—-—_
Sunshine Mining Co. (irregular)—
Sundstrand Machine Tool (year-end)—_—
Sussex Trust Co.
(Del.) (s-a)
5%%
:
Extra
,
Oil Corp.,
(quar.)
Swan-Finch
Swift
& Co.
com.
Sylvanite Gold Mines, Ltd.
(year-end)
—
(quar.)
Tacony-Palmyra Bridge, common
A
(quar.)
.—
12-27
11- 8
50c
12-30
12-15
25c
-
(quar.)
preferred
12-30
12-15
50c
12-30
12-15
12-30
12-15
$1V4
-
-
(quar.)
Extra
5%
12-15
12-16
1- 1
12-10
11-24
11-24
12- 1
12- 2
25c
Extra
Class
$1
40c
11-21
11-21
12-12
11-22
12-10
12-10
t7c
(quar.)
Paper Co.
25c
20c
30c
5c
25c
30c
Extra
Sutherland
683/4C
12-19
12-19
1- 1
12-22
12-20
12-31
12-31
12-15
2- 1
12-17
1
12-
8
1
12-22
12-15
11-25
12-15
75c
t66c
Abbott
-
Nov. 28 filed a registration
the Securities and Exchange Com¬
of 30,000 shares of 4% preferred
stock
($100 par).
Proceeds are to be used in part to redeem the
outstanding 4%% convertible preferred stock, which was issued in
1937, insofar as holders of that issue do not exercise conversion rights,
with the balance to be applied to capital expenditures and increase of
working capital.
A. G. Becker & Co., Inc., F. S. Moseley & Co. and
Shields & Co. are named as prospective underwriters.
Company,
makers of pharmaceuticals, on
(2-4899, Form A-2) with
mission covering the proposed issue
statement
leading producer of purified cellulose from wood,
panies in recent years.
By its emphasis on research and the develop¬
ment of new products, largely in the field of vitamins, germicides,
The
company,
hypnotics and
arsenical preparations, together with
for
which
volume
aggressive sales
increased from $4,055,000 in 1931 (the first year
of business was published) to $12,981,000 in 1940,;
policies, sales have
12-
1
12-15
12-
1
12- 6
12-13
Common
Union
12-15
12-
1
Warner
12-15
12-
5
Warren
$1%
12-15
12-
5
Washington Irving Trust (Tarrytown, N. Y.)
$3
12-23
12-15
37 %c
12-24
12-10
12-20
11-24
Extra
75c
1*
12-
1
12-15
12-10
12-
1
1-
75c
Wayne
2
12-
1
25c
12-15
12-
5
Western
10c
12-15
12-
5
—.____—
12-15
12-15
12-
1
12-20
12-
2
30c
12-15
12-
5
$1
12-15
12-
5
United
t25c
12-22
12-
1
United
$1%
12-20
12-
5
$1%
12-20
12-
5
25c
12-24
12-
4
t75c
1-2-42
(year-end)
Carbon
United-Carr
Co.,
Fastener Corp.
—________
(quar.)_
Extra
Corp., Ltd., class B (initial)
Dyewood, 7% preferred (quar.)
7% preferred (accumulated)
United Elastic Corp. (irregular)
United Fuel Investments
class
6%
Merchants
United
Common
v.t.c.
11-28
12-19
Whitaker Paper Co.
58V3c
12-15
53c
1-2-42
12-15
50c
1-2-42
12-15
$2
12-29
12-
9
50C
12-20
12-
6
a7Va%
12-13
11-
5
(monthly)
.
& Mfrs., Inc.
(irreg.)
U. S.
12-20
12-15
11-29
f$l%
f$l Va
12-15
12-
1
12-15
12-
1
50c
12-20
12-
5
12-5
11-25
30c
12-15
12-
40c
12-24
12-12
12-24
12-12
50c
Extra
(quar.)___
U. S. Leather Co., 7% prior preference.
United States Loan Society (Phila.) (s-a)
U. S. Petroleum Co., common (quar.)
Co.
S.
U.
6%
Potash
(quar.)
United
$5
$5
Sugar
7%
pref.
pref.
12-10
5
5
12-15
12-
50c
12-20
11-29
12-20
11-29
(year-end)
$5.50 priority stock
5
Monthly
Monthly
12-20
11-19
12-15
54C
4-2-42*
7-2-42*
12-
1
12-
12-26
12-12
12-15
12-
II-20
1
t3c
12-10
$1 Va
1-2-42
12-29
t$6
12-22
12-12
12-15
11-29
12-15
11-29
1-2
t$lVa
1-
2
12-15
12-
12-1
12-15
11-28
12-22
12-15
2
12-22
-
&
income and excess profits taxes
of the 4%%
of the new
shares were
25-Cent Extra Dividend—
11-29
12-19
12- 9
a3%
12- 6
11- 5
$1%
$1%
$10c
12-15
12-15
1- 2
11-26
1- 2
11-26
J5c
—
(Rudolph) Co., 7% pref. (quar.)
Manufacturing, common
25c
25c
25c
25c
t$l%
1-2-42
12-20
2-2-42 1-20-42
3-2-42 2-20-42
4-1-42 3-20-42
1- 1
12-20
15c
1- 2
12- 8
12-19
12- 8
25c :
50c
(quar.)
1- 2
12-23
12- 9 1
12- 9
12- 9
25c
1- 2
50c
12-23
12- 9
$1%
1- 2
12-15
12- 9
11-22
;
(quar.)
B
Extra
preferred (quar.)
Youngstown Sheet & Tube, com.
7%
(year-end)
Extra
75c
25c
12-15
11-22
$1%
50c
50c
1-1-42
12-15
12-15
12-13
11-29
12- 8
15c
12-20
12- 8
—
(quar.)
preferred
5%%
12- 5
12- 5
40c
Towne
Extra
Youngstown Steel Door (irreg.)_
Zion's Cooperative Mercan. Inst,
Zonite Products Corp. (resumed)
•Transfer
(quar.)
(year-end)
books
tOn account of
not
closed
for
this dividend.
accumulated dividends.
tPayable in Canadian funds, tax deductible at the source.
Non-realtax, effective April 30, 1941 increased from 5% to 15%.
Resi¬
dent tax remains at 2 %.
a Less British Income tax.
dent
extra dividend of 25 cents per share
in addition to the regular quarterly dividend of 40 cents per share on
the common stock, both payable Dec. 24 to holders of record Dec. 4.
Extras of 10 cents each were paid on March 31, June 30 and Sept. 30,
last, one of 25 cents on Dec. 23, 1940, and 10 cents each on March 31,
June 20 and Sept. 30, 1940.—V. 154, p. 1257.
MISCELLANEOUS
-
Acme Wire Co.—85-Cent
The directors
have declared a
Dividend—
dividend of 85 cents per share on
the
15 to holders of record Nov. 29.
Distri¬
made on this issue on May 15, Aug. 15
and Nov. 15, last, as compared with 30 cents on Feb. 15, last, 50 cents
on Dec. 15,
1940, quarterly dividends of 30 cents per share on May 15,
Aug. 15 and Nov. 15, 1940, and 25 cents per share in previous quarters.
common
butions
stock, payable Dec.
of 50 cents each
were
—V. 152, p. 2840.
Adams Express
board
The
directors have declared an
12-15
t$3%
(Del.)—
Yellow Truck & Coach Mfg. Co.
Class
11-29
$1.16%
Special
INSURANCE
the present financing and retirement
company's capital structure will consist
the no par common, of which 755,204
outstanding Sept. 30. There is no funded debt.*
The
,11-29
12-15
Investment News
$1,418,000.
preferred, the
preferred and
11-29
12-15
1
12- .1
f$l
1-
Yale
1
12-15
.
50c
INDUSTRIAL
Giving effect to
12-15
$1
$134
Wrigley (Wm.), Jr., & Co.
Monthly
Wurlitzer
I-2-42*
and net income from $408,000 in 1931 to $2,239,000 in 1940.
Sales
and net earnings have increased uninterruptedly from year to year
since
1933.
Reported net for the first nine months of 1941 was
of
$1V2
Co.,
Monthly
$1
$1,814,900, after provision for Federal
11-29
—_—__—
12-
(quar.)
-
Extra
12-19
t$l Va
Valspar Corp., $4 conv. preferred
Van Camp Milk, common (year-end)
preferred
'
1
10c
.
;
Utilities Equity Corp.,
12-31
12-15
Steel, 7% preferred
Woolworth, Ltdv-r^r:I Za;
Amer. deposit rets, for 6%
pref. (s-a)_«
Worthington Pump & Machinery Corp.,
4%% prior preferred (quar.)
4V2% conv. prior preferred (quar.)
Wright-Hargreaves Mines, Ltd
12-
$1%
w
(qu.)
preferred—.
$7 preferred
preferred
1-15
1-15
$l>/8
(Alan)
12-16
75c
(year-end)
Year-end
Utah Power & Light
1-31
$lVs
$lVa
Accumulated
Wood
12-15
1-
10c
Upressit Metal Cap Corp., 8%
Utah Oil Refining Co. (quar.)
11-29
12- 6
1-15
preferred
7%
1
t$7
Upper Canada Mines, Ltd. (interim).
Upper Michigan Pr. & Lt. Co. 6% pf.
12-10
12-20
1-31
(quar.)
pref.
6% preferred
Accumulated
12-15
43 %C
(quar.)
Inc., of Del.
pfd. (quar.)
4V2% pfd. (quar.)
4,/a%
Elec.
&
Wisconsin Power & Light
12-31
1-15-42
$1V4 4-15-42
$1V4 7-15-42
preferred
Gas
$1
com.
Corp.___
Power, 4%%
'
12-13
12-
$1V4
States Tobacco Co.,
40c
25c
$1.1834
$1
preferred (quar.)
t$2
(quar.)
(quar.)
non-cum.
6%
Wisconsin
$1 Va
:
(quar.)
U. S. Truck Lines,
$4
2
12-24
12-15
non-cumulative
United Stores Corp., $6 preferred-
$6
1-
$4
Corp.—
preferred
United
8
50c
preferred (quar.)___
preferred (quar.)
S. Steel Corporation, common
20c
12-10
12-10
12-13
11-28
12- 5
1-16
11-29
$l3/4
20c
•-
(quar.)
1st
U.
12-
2c
common
United States Rubber Co., 8%
12-15
12-15
12-17
12-20
1- 1
12-19
12-15
2- 2
12-10
t$lVa
Bankshares
50c
Playing Card
Co.,
12-27
1-1-42
50c
t50c
(year-end)
Wisconsin Michigan Pow.,
8
2
50c
& Foundry
Pipe
States
United
12-
1-
2c
States
$1
$6 preferred-_____-__i.__
Inc. (quar.)
Wisconsin Electric
12- 8
12-24
t$l%
"l
Extra
United
12-31
$1%
preferred
Corp. (year-end)
Sewing Machine
Products,
Wisconsin
1
$1 Va
Co., common (quar.)
U. S. Gypsum
12-12
12-12
11-21
12-15
SHi
Extra
12-30
15C
(quar.)
11-28
1-2
1- 2
12-15
12-27
$l,/4
$l'/4
-
& Gibbs
Willson
12-20
$1 Va
Year-end
7%
1-10-42
______
Co.
12-10
SI
& Co., Inc.,
Wilson
$2Va
(irregular)
(quar.).
preferred
Wilcox-Gay
75C
Freight Co
Graphite Co.
(quar.)
(quar.)
White Motor Co.
(year-end)
White Sewing Machine, $4 conv. pref.
Whitman (Wm.) Co., 7% preferred (quar.)
25c
United States Guarantee
12-23
12-23
Extra
7%
Willcox
(s-a)
(Detroit)
12- 9
12- 9
12-10
11-15
*20c
12-30
12-23
12- 5
12- 5
11-21
$1
$1
(quar.)
1-2-42
Co. (year-end)
Savings Bank
Ltd.
t6c
$1V4
.
preferred
S.
U.
(George),
Wheeling Steel Corp., $5 prior pref.
Common (year-end)
(s-a)
dep. receipts ord. reg. (interim)
United New Jersey RR. & Canal Co. (quar.)
United Pacific Insurance Co.
(quar.)___
United Public Service Corp. (annual)
United Public Utilities Corp., $2.75 preferred
$3
Weston
(reduced)
12-15
12-15
12-15
12-15
12-12
50c
Instrument
5
12-
11-28
12-15
12-15
12- 1*
$1
lc
$1
participating preferred (year-end)_
Electric
12-20
American
United
f$4,/2
Westgate-Greenland Oil (monthly)
Westinghouse Air Brake - (irreg.)
Westinghouse Electric & Mfg. Co.—
Common (year-end)
Ltd.—
Molasses,
United
t$lVs
Telegraph Co. (year-end)
Weston
12-23
preferred (quar.)__
Gold Equities of Canada, Ltd.
7% prior preferred (monthly)
6.36%
prior preferred (monthly)
50c
2V2c
f$7
Co., (quar.)
7% 1st preferred
Payment
covers
the
year
ended June
30, 1922.
Public Service, $1.50 preferred A
12-20
15c
$5
prior preferred
12-15
12- 1
12- 5
$6 preferred B___—_____
$1%
United
6%
Exploration
Western Union
7% pfd. (quar.)
United Gas Improvement, common
United Illuminating
12-31
12-27
1- 2
12-20
12-15
Western
7%
(quar.)__
preference
A
United Gas & Electric Corp.,
1- 2
20c
20c
West Virginia Pulp & Paper
$2
(quar.)
Aircraft Corp.
25c
.
50c
25c
Western Maryland RR.,
1-
$1V2
(quar.)
75c
$2.50 preferred
1- 2
11-25
12-10
12-16
12-19
11-21
(year-end)
(initial)
West Virginia Coal & Coke
12- 5
United
1-15
12-15
12-22
1- 1
1- 2
12-20
(Pittsburgh),
Bank
End
West
62 Vac
_i—_______—
United
$1
$l1/2
$l'/2
$l,/2
Grape Juice, common (irregular)
Wesson Oil & Snowdrift Co
5
11-27
12-18
1- 2
(quar.)
Co.
Pump
11-21
11-21
11-15
(year-end)__
Welch
11-20
12-15
120c
______
______
Premier Food Stores, common
Extra
12-
12-15
25c
(quar.)
Union Pacific RR.
Union
12-15
25c
12- 8
12-11
12-28
1-15
$1V2
_______
Wayne Knitting Mills, common
6% preferred (s-a)
$1V*
(year-end)__
(irregular)__
&
Co.
(year-end)
Co.
Washington Water Power $6 pref.
Carbon Corp.__
of Canada, Ltd. (quar.)
Carbide
Gas
D.)
(S.
12-15
12-15
40c
$1
Swasey Co. (year-end)
&
$1
$20c
25c
40c
$l'/8
t75c
t$l
$25c
t5c
(quar.),
Brewery, Ltd
$1%
Corp
Paper
&
Bag
Union
Union
____!
(quar.)
preferred
$1
Walkerville
$1%
—
(quar.)
Elliott Fisher Co.
Manufacturing Co.
Unexcelled
$1%
11-25
2
1-
t$l
(s-a)
$1.50 convertible preferred
Twin Coach Co. (year-end)
PUBLIC UTILITY
Laboratories—Registers With SEC—
5
11-19
1
Twentieth Century Fox Film Corp.—
Underwood
$1%
75c
t$lV4
$3'/2
$l1/2
$l3/i
.
General Corporation and
RAILROAD
12-
12-10
12- 5
$3
25c
(year-end)
common
(irregular) __!___
preferred (quar.)
preferred (quar.)_
Wabash-Harrison Corp. (year-end)__
Waite Amulet Mines, Ltd. (interim)___
Waldorf System, Inc. (quar.)
Walgreen Company, common (quar.)_^
4 '/2%
preferred
(quar.)
Walker & Co., $2.50 class A
;
Walker
(H.)
Gooderham, & Worts, Ltd.—
11-25
$lVa
Co.,
Common
12-15
1-
Tool
12- 1
2-2-42 '1-17-42
5-1-42 4-18-42
8-1-42 7-18-42
12-24
12-15
12-24
12-15
12-31
12-19
12-31
12-19
12-20
12-10
3-20
3-10
1-20
1-10
4-20
. 4-10
12-15
12- 1
12-10
11-15
12-20
12-10
12-20
11-20
12-15
11-15
12-20
12- 1
37J/ac
37VaC
37l/ac
7%
1
12-
12-15
$3.75
General Trusts Corp.
Tunnel RR. of St. Louis
12- 8
11-28
preferred (quar.)_
Corp., $3 conv. prior pref. (quar.)
$4.50 preferred
Vulcan Detinning Co., common (year-end)
12-10*
12-
12-15
35c
,
.
12- 1
12-18
12-20
7%
12-27
20c
preferred
5V4%
$5
Sunray
-
Ltd.—
12-15
7%
12-11
$1V4
—
$1
Vulcan
75c
.
12r 1
12-10
t$l
$1V2
Vlchek
40c
Extra
--
—
Sterling Aluminum Products (year-end)
Stone & Webster, Inc. (year-end)
Strawbrldge
1- 1
1-15
1- 2
12-20
40c
1
75c
(quar.)______
(quar.)
Troy & Greenbush RR. Assoc. (s-a)____
Truax-Traer Coal, 6% preferred (quar.)
5 Va %
preferred ; (quar.) __________
,
Toronto
Lithograph Corp.—
preferred (quar.)
6%
,
12- 9
12-22
60c
75c
$1
(year-end)
1
12-
(quar.)__
Elevators,
Toronto
Acid Wrks,
rlnc„v(quar.)
Sterchi Brothers Stores,
12-
-
(quar.)
$1.40 convertible preferred (quar.)
Time, Inc. (year-end)
Timken Roller Bearing Co. (year-end)
Todd Shipyards Corp. (year-end)
Tokheim Oil Tank & Pump (year-end)
12-10*
62'/2c
SI1/*
Special on common (year-end)
5% preferred (quar.)
11-28*
12-15
15c
(year-end)
common
Tilo Roofing Co., common
12- 5
t20c
25c
40c
25c
25c
25c
25c
50c
$1
37>/aC
Extra
P,
12-22
(year-end)
interest
(year-end)
prop,
Land
&
$3 preferred
11-15
11-14 '
12-10*
$lVa
(quar.)—
$4.50 preferred (quar.)_________—
Standard Coated Products Corp., $1 pref.__
Standard Oil of California (quar.)
•"v
12-15
12-18
12-22
Oil
(extra)
(sub. shares)
12- 1
$1%
60c
Virginia-Carolina Chemical, 6% preferred—
Virginia Elec. & Pwr. Co., $6 pref. (quar.)
Virginian Railway Co.—
6% preferred
(quar.)
6% preferred
(quar.)
6%
preferred
(quar.)
11-28*
2
1-
12-15
50c
Thompson Products, common (irregular)
5% convertible preferred (quar.)
12- 6
$3V2
10c
—
(semi-annual)
Standard Brands, common
.
12-15
12- 8
11-22
12- 6
of
Certificates
Texon
Thermoid Co.,
12- 5
10-31
50c
15c
$1
50c
$1V4
(irreg.)
11-26
Extra
12- 2
$lJ-4
com.
12-12
(quar.)
Gulf Sulphur
Texas
11-25
11-25
12- 2
$1V2
(quar.)
25c
50c
:•
jlOc
—
Year-end
50C
11-10
11-29
12-10
12-16
12- 8
—
Sperry Corpi (irregular)
Staley (A. E.) Manufacturing,
$5
;
25% paid cer-
(annual)
Sparks-Withington, 6% conv. pref.
Spencer Kellogg & Sons (quar.)__
Spencer Trask Fund (quar.)
1
11-24
12-15
12-30
$iy2
10c
12-
12-17
50c
15c
t50c
.____
12-15
$10
12-20
35c
25c
__________
12- 1
12-10
12-10
$1%
12-15
12-30
1- 1
12-15
1
1-20*
1-20*
12-15
12-22
12-22
12-19
12-15
1- 2
12-19
12-15
12-20
$1V2
12-10
12-
(quar.)
Company
Texas
12-5
Life Ins. Co. (Dallas) (quar.)
Southwestern Light & Power, $6 pref.(quar.)
12-20
12-15
11-24
12-15
.(quar.)
Corp,
Tennessee
11-29
12- 5
Southwestern
Sovereign
Temple
—_
(interim)
—
Co., 7% preferred (quar.)
Viking Pump Co., $2.40 preferred (quar.)
12- 6
15c
Southwestern
IOC
t60C
Bond & Share, $3 1st preferred
Coal Co., $6 conv. pref. (initial)__
Telephone
$1
$1%
____.
11-14
12- 1
12-10 : 12- 1
Victor-Monaghan
1
12-
12-11
$1.20
Tecumseh Products
Holders
of Rec.
12- 2
12-15
Ventures, Ltd.
11-21
12-15
$1
-
_
Taylor-Wharton Iron & Steel (year-end)
11-20
(year-end)
—
(year-end) ___—
SO preferred A
Associated Telephone, $6 pref.
-
12-17
12-15
12-15
Pipe Line Co.
[$10 par]
in 4%
preferred stock)
Extra
12-15
12-15
Southwest Natural Gas,
^payable
dividend
Stock
Per Ri When
Share
Payable
-■
$1
75c
50c
7% preferred (quar.)
Veeder-Root, Inc. (year-end)
.12-29
t$l
20c
Southland Royalty Oil Co.
r
11-21
10c
37VaC
Quarterly
Southern
11-21
12-15
.
10c
$2
(interim)
Sugar,-common
12-15
60c
50c
5c
—
(extra) __________
Carolina Power, $6 1st pref. (quar.)—
South Bend Lathe Works
-
__^
_____________________
Pacific Land Trust
5c
$1V4
$lVa
25c
-
d__
Sonotone Corp.
12-15
Pacific Coal & Oil Co.
25c
10c
Corp
Packing
Snyder Tool & Engineering
12-15
1- 1
Texas
$1V2
(quar.)
preferred
$6
Snider
Iron,
&
12-27
Texas
11-28
12-1
11-10
12-15
20c
(year-end)
Shell Union Oil Co.
(quar.)
10c
•
H':':--X-."'f:''
;
Steel (year-end)
Vanadium Corp. of America (year-end)
Vapor Car Heating Co
V&nadium-Alloys
12-15
12- 2*
12-15
12-15
12-10
-
-
_
11-29
12-10
12- 5
12- 2*
2-1
2- 1
$1
25c
75c
; $1V*
75c
22c
25c
10c
(year-end)
Co.
Lace
Seaboard Oil of Delaware
Sears
12-15
$lVa
$1
(quar.)
(quar.)
$4.50 preferred
11-29
12-15
12-15
12-15
12-15
—
Scranton
12-10
12-10
12-10
12-19
12-10
11-29
12-15
$1%
12VaC
50c
45c
-___
preferred (quar.)
———_
Schlage Lock Co. (quar.)
Schwitzer-Cummins Co.
(irregular)___.
Scott Paper Co. (quar.) __
5Va%
Extra
„
20c
Extra
Inc.
12-27
68%c
:—
participating preferred
5 Va %
Talon,
12-10
12-15
$1%
Schenley Distillers Corp.,
(James), Inc.
Talcott
10c
/'
$1.60
——
debentures B (quar.)
debentures C (quar.)__.
6Va% debentures D (quar.)—
:<
12-22
$2
$l7/a
7%
>:
11-29
12- 5
12-10
1- 2
1- 2
1- 2
1-2
1- 2
12-15
V/2%
f
12-15
12-15
$1
$IV*
(year-end)
Savannah & Atlanta RR.,
of R$c.
75c
(quar.)
Remedial Loan Assn.
Francisco
Savage Arms Corp.
Pay'ble
Share
Company
Name of Company
oj Rec.
Payable
Share
Name ol Company
Holders
When
Per
Holdera
When
Per
of
Co.—30-Cent Year-End Dividend—
management
on
Dec.
2
declared a dividend of 30
Dec. 23 to holders of
share were made on
share on the common stock, payable
record Dec. 12.
Distributions of 15 cents per
this issue on June 27 and Nov. 7, last.,--:: • \
cents
per
With
per
the current declaration,
share, as against 40 cents
■
dividends this year will total 60 cents
paid in 1940.—V. 154, p. 1257.
$1
The
share and the regular quarterly dividend
declared on the capital stock, par $10,
holders of record Nov. 29.
An extra of 50
dividend of $1 per
share
per
both
American Chain & Cable Co.—Additional Dividend—
Surety Co.—Extra Dividend-r-
Aetna Casualty &
An extra
of
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4016
Volume 154
payable
have
Jan.
to
2
An
,
1416.
vp.
■
of
40
cents
ized,
dividend
Dec. 28,
on
of
40
cents
also
was
paid
the
on
have been declared on the
A
on
shares; issued and outstanding, 978,444 shares; com¬
authorized, 4,000,000 shares; issued, 3,013,812 27/50 shares less
reacquired and held by company; outstanding
3,008,511 27/50
(including 1,959 27/50 shares of scrip in 1941 and 2,029 27/50 shares
in 1940).—V.
154, p. 536.
5,301
common
American Locomotive Co.—Accumulated Dividend—
1940.—V. 153, p. 1266.
stock,
dend
for
of
one-tenth of
each
which
share
of
paid
on
was
a
share of American
American
Nov.
7,
Cigarette
1940.—V.
Tobacco
&
Cigar
152, p.
Co,
Co.
1578
25,
stock,
capital
funds to company,
Alabama Power
Operating expenses
for
Prov.
income
Federal
the CAB for
2,818,660
was- done
74,802
1,531,649
2,859,370
of
The
583,130
sity
Int.
and
other
Dividends
Balance
—V.
195,178
$3,381,457
2,342,138
$3,096,825
2,342,138
$7,373
$1,039,319
$754,687
$202,551
$279,145
195,178
pref. stock
on
$7,943,572
4,846,747
404,212
396,799
deducts.
income
Net
$8,144,528
4,763,070
$606,763
$675,945
income
the
action
for
$83,967
to
the
there
which
the
had
been
4,/2%
the
debentures,
uncertainty,
some
was
concerning payment
paid Dec. 1. Control
action
The
share
Trustees Elected—
Lisbon.
of security holders held on Nov. 18, the five
existing trustees were superseded by
five nominees of Gordon B.
Hanlon who recently secured voting control of the trust by purchase
of 110,000 of the outstanding 171,500 shares.
The new trustees are:
G. B. Hanlon, E. N. Hanlon, R. P. Loring, V. C. Spaulding and M. M.
Bowen, and they replace C. F. Adams, J. E. Aldred, Nevil Ford, P. W.
Johnson and W. J. Minsch.—V. 153, p. 1120.
Alles & Fisher, Inc.—To
directors
the
An extra
25
12>/a
cents
Allied
the
have
Pay 12 V2-Cent Dividend—
$2
per
to holders of record Dec.
stock, payable Dec. 27
common
dividend of
special
a
share
13.
Prov.
Dec.
on
Dec.
23,
20
holders
to
of
record
for
The
Net
declared
the
stock,
common
dividend
further
of
payable
15
cents
Dec.
per
of
40
cents
per
share
the
1 and Oct.
1, July
1,
1940.—V.
total
ment
York
Henry
of
of
$150,000
5%
gold
for redemption as of Feb.
will be made at J. Henry
due
have
1953
1942, at 100 and interest.
1,
Schroeder
Banking
Corp.,
the
.
.
American Business Shares
First National Bank
to
$
'
112,705,112
10,509,924
43,618,722
1,004,290
7,089,815
•Net
—1—
profit
all
♦After
=
$4,810,521
of
fLoss.
>
;
137,554
Other
Int.
12,524,731
9,352,294
36,386,029
38,886,796
15,820,227
15,815,149
17,174
15,136
84,308
5,447,361
1,792,936
20,650,110
7,171,742
7,171,740
3,654,425
13,478,368
15,927,336
14,745
51,299
54,366
Amer.
in
raging,
the
th&t
combat tanks playing so important a
and particularly on the battlefields of
company
has
reason to
"-,J;•*•.<?.* /•*.*
is but little activity in
every
regard.
time
part in the war now
Northern Africa. And
be proud of its achievements in
this
there
3,639,680
13,427,069
13,427,069
HI
r?
H
q
f
H:.
>
the
also
6%
declared
the
usual
non-cumulative
holders of record Dec.
to
*
quarterly dividend of $1.50 per
stock, par $100, payable
preferred
11.—V.
154,
745.
p.
Telegraph Co.
&
was
gain
a
Number Of
—
telephone
of
about
102,100
telephones
in
service
in
the
subsidiaries
of the American Telephone & Tele¬
System during the month of November,
The gain for the previous month was 120,900 and for
November,
included in
90,500.
net
the
Bell
; r
gain
for the
there
year
gain
is
were
for
11
months
of
period in
same
about
year totals
At the end
this
1940.
18,712,100 telephones
November,
1941,
Viscose
in
the
1,230,900/. as
of
November
Bell
System. (
the
was
Corp.—Opens New Laboratory—f
~
improved /rayon yarns which is con¬
research and testing laboratories,
on
in the company's
on
officially announced.—V.
Output
Water
154,
p.
1001.
of. electric
Works
&
of
energy
Electric
the
for
Co.
electric
the
Inc.—Output—-
properties of
ending Nov.
week
American
.
29,
1941,
69,136,000 kwh,, an increase of 18.93%
over
the output
of
58,130,000 kwh. for the corresponding week of 1940.
Comparative table of weekly output of electric energy for the last
five
23,696
59,084
3,663,376
75,212
13,486,153
399,468
380,156
39,531
79,178
Income
86,680
13,155
44,631,000
22
65,656,000
69,136,000
59,261,000
54,011,000
43,863,000
40,793,000
29
58,130,000
55,661,000
45,697,000
42,206,000
Thanksgiving Day.—V. 154, p. 1258.
American Zinc Lead & Smelting Co. (& Subs.)—Earns.
3,488,329
12,666,998
sales
Cost
15,397,254
707,209
2,833,381
of
$4,824,490
2,781,120
9,833,617
12,559,021
1941—3 Mos.—1940
106,855
$
Interest
1941—12 Mos.—1940
$
$
11,616,878
59,084
80,039
2,966,071
11,675,962
399,468
380,156
12,236,113
108,565
75,212
79,178
profits)
86,680
of
Office
Plant
10,856,807
2,833,381
11,680,358
2,838,233
ing to
that corporation
the
2,083,815
8,023,426
8,842,125
pany
(Company Only)
the
1940
President, Nov. 29, States—
recommended
Management
that
company
1,790
202,060
599,710
604,571
subsidiaries
641
—
and
expense
3,232,322
13,519
Total
basis
,
amount
for
the
increased
production
are
______
231
3,276,313
13,519
Liabilities—
the
Government
and
a
management
fee
to
the
'
.
with
of
slag
the
may
Metals
Reserve
Co.
is
concerned
with
,
the
be required by company to supply the increased
zinc.;—V.
[Including Subsidiary
Years End,
154,
745.
p.
Gross
and Affiliated Common Law Trust]
Companies,
July 31,—
;
1941
$1,660,613
——
Other
127,869
94,845
239,927
$406,540
68,987
___
charges
37,400
$990,477
—;
income
income
1940
$921,490
from operations
income
Total
178,467
422,739
i
Selling and administrative expense
Net profit
$919,779
188,514
profit
Depreciation
Depletion
Other
214,579,677 214,579,677
42,358,000
42,358,000
Southwestern Power & Light Co. 6% debentures
3,903,000
3,903,000
Dividends declared
1,810,076
1,810,075
Accounts payable
45,236
176,611
Accrued taxes
362,426
270,433
Long-term debt interest——————_____
458,866
432,945
be
to
Anderson-Tully Co.—Earnings—
______
273,559,369 273,976,822
__—
rental to
of
contract
concentrates that
49,904
1,028,771
receivable*
needed
upon
Government.
The facilities are then leased to the com¬
by the Government corporation and are to be operated by it on
The
252,C96.447 252,390,516
10,348,376
9,885,853
5,632,723
6,977,806
___________
facilities
,
sites at Fairmont City and at Monsanto
company.
$
1,180,620
assets
$443,940
—
129,446
111,734
—
$861,032
'i
$332,206
—
____—
surplus
$0.33
erected by the
*
Capital
,
,
,
receivable—Subsidiaries
current
$566,877
Corp.
2,791,024
707,209
Temporary cash investment.——_
Other
V
$0.43
with
706,988
——;
discount
$632,227
$0.10
'
Production
contracts
into
2,447,639
$
Unamortized
$153,864
153,496
two
Government
corporations,
namely,
and Metals Reserve Co., to increase produc¬
tion of slab zinc an aggregate of approximately 2,000 tons per month
at the Fairmont City
and Monsanta, 111., plants.
These contracts
have just been consummated.
•
The contract with Defense Plant Corp. provides for company leas¬
enter
1,740,651
current
58,150
on
45,246
Cash
Other
10,294
471,043
Nil
share
39,531
Sheet, Sept. 30
receivable from
420,679
43,108
591,511
333,071
stock
13,155
Assets-—
Dividends
490,202
876
121,500
$54,130
taxes—
9,463
deducts.
interest
117,331
208,500
77,665
Howard I. Young,
The
232,091
278,418
&
deductions—
Special deposit
$1,622,389
13,987
income
Defense
income
Accrued
250,606
$2,090,119
120,034
common
(excluding
other
487,965
$451,721
(net)
Net profit
Earnings per
12,156,074
23,696
2,644,845
and
81,254
$474,316
income
Federal
2,942,375
—
other
$1,371,783
Deprec. and depletion—
2,629,129
int.
12,530,579
$1,602,155
Other income
Only
15,716
before
18475,265
$370,467
Expenses
1,527,025
Total
Balance
'4,208,029
$367,461
sales
on
$4,578,496 $19,777,420 $13,902,'362
4,457,028
goods sold
2,838,233
Prov. for Fed. inc. taxes
excess
1941-P3 kos.^1940'^ 1941-^12 MoS^-1940 V
Period End. Sept. 30—
Net
45,246
to
subs
taxes
1937
44,513,000
45,582,000
232,091
706,988
Other income
Other
1938
44,359,000
54,914,000
♦Includes
278,418
2,234,013
deducts.
Expenses
1939
55,518,000
58,981,000
Profit
earned surp.
from
1940
58,153,000
69,502,000
&
deductions—
carried
1941
69,808,000
15
15,953,003
9,463
other
Ended—
80,039
2,431,219
—108,565
before int.
follows:
years
8
15,872,970
15,716
liabilities—
525
________
surplus
36,026
10,005,537
*
_______——
__________
*4
directors
on
2
♦Nov.
15,872,970
3,639,680
inc. taxes
Earned
\ '-vViVi;"
and
common
Nov.
2,415,503
2,415,503
—
420
36,026
,
—
5 4c
v
—
Net
profit
Surplus
charges:
Prior year
Dividends
Income
.\
v-HH
income charges
paid
tax
accrued,
current
9.374
1,201
172,811
—
______—
65,156
337,246
year
'
68,853
10,409,635
the buying of railroad
Total
273,559,369 273,976,822
rolling stock.
This lull the management believes to be temporary
♦Represented by $6 preferred cumulative (entitled Upon liquidation
only and to be due to the many, problems, financial and other, now >'•
to $100 a share, pari "passu with $5 preferred): authorized,
besetting railroad management. When such buying is resumed, and
1,000,000
shares: issued and outstanding, 793,581 2/10 shares, incl. of 26 2/i0
the management has every confidence that it will be, the company's
shares of scrip in 1941 and 1940; $5 preferred cumulative (entitled
facilities and reserved space will be ample to enable it to handle its
upon liquidation to $100 a share, pari passu with $6 preferred); author¬
full share of the resulting business.—V. 154, p. 1257.
At
special dividend of 40 Cents per
a
regular quarterly dividend
stock, par $25, both payable
a
income,
the
Nov.
in¬
♦Capital stock
6%
gold debentures
quantity, with respect to the work the company has done and is
doing for our government. It may, however, with entire propriety be
stated that the company continues to be the largest supplier of the
declared
3
on
Nov.
L. Co.:
equipment, carburetors and miscellaneous articles generally,
and its wholly-owned subsidiaries..
juncture in the condition of our national effort to prepare
for the eventualities
that even a day may bring forth, it is, for
obvious
reasons,
inadvisable to particularize, either as to kind or
company
953.
p.
American Water Works & Electric Co.,
11,858
Others
this
military
share
supplement the research work
it
to
railroad
the
,
Chairman
Phones In Service Increase—
23,099,076
1,792,936
Prepayments
At
and
to
share
Jan.
27,429
—
above)
_4
and
Accounts
were
Board
corporation has Just opened a new laboratory building at its
Roanoke, Va., plant.
This laboratory will be used both for con¬
trolling the quality of the rayon yarns spun at this plant and to
3,920,069
$
President, states—
ranking
,
the
con¬
then uncompleted, the value of "war work" con¬
tracts
(practically all for our own Government) actually booked and
the remainder,
upwards of $54,800,000, being the then dollar value
of
contracts
undertaken for the supply of the ordinary products,
of
Dec.
on
non-recurring
per
tinually carried
Period End. Sept. 30—
.
1941 the company and its wholly-owned subsidiaries had
on
their books business amounting in dollar value to $186,443,749—
somewhat more than $131,000,000 of this total representing, to theH
they
2
of
American
3,995,563
Earnings of Company
.
154,
of
This
and
taxes
consol.
r
Chairman
as
largest for the month of
November in the history of the Bell System, the next
largest November
gain having been in 1940, the company announced.—V. 154, p. 1189.
8,198,686
P. &
Balance
,
as
holders of record Dec. 11.
This compares with quarterly
dividends of 75 cents per share on the common stock from
July L
1929, to and including Oct. 1, 1941, and, in addition, extras were
paid
as follows:
50 cents on Jan. 2, 1930, and 25 cents in
January of each
year from 1931 to and including 1941.
this
141,583
subs
Prov. for-Fed.
on
At Oct. 31,
extent
out
cents
60
which
1938
and
succeeds
,
remains
Committee.—V.
The directors
of
The
1,962,536
25,511
——
Expenses.
.
1939
Finance
Total
$823,655 t$l,746,679 f$l,893,494
charges and Federal taxes.
Charles J. Hardy,
,
President
He
*
Chairman.
against 838,700 for the
3,495,024
33,777
Balance
1940
elected
Committee.
the
Brownell
share,
1940,
$
41,532,687
(Inc.)—Registrar—
,
has been
American Snuff Co.—Special Dividend Of 40-Cents-*
10,477,586
of Jersey City has been appointed registrar
-1941
the
1941.
38,745,213
Total
New
of
Dec.
Quarterly Rate On Common Stock Reduced—
106,775,241
36,248,475
Co.
L.
American
been
Pay¬
holders
on
company,
the
H.
graph Co.
1941—12 Mos.—1940
$
26,688,805
9,326,783
Investments
-
F.
principal
(& Subs.)—Earnings-
1941
6 Mos. End. Oct. 31—
of
8,164,909
of
Net equity (as
Other income
American Car & Foundry Co. (& Subs.)—Earnings—
.'t
one
revs—
public*—
capital stock.—V. 154, p. 953.
the
1940, and
share
per
to
paid
,1
\
Chairman,
American Telephone
23,
$1.50
27
on
2,427,361
&
Net
The
paid
met)—__
equity
P.
Int.
for
was
1100.
p.
the
The
per
record
11,231,021
charged to
come
paying agent, 48 Wall St., N. Y. City, or at the office of J.
Schroeder & Co., the London paying agent, 145 Leadenhall St.,
E. C. 3, England.—V. 141, p. 3682,
"
-
London,
by-laws of
Week
1, last, 50
18, 1940 and 20 cents each
154, p. 241.
debentures
Dec.
cents
cents
of
12,554,543
public
divs.
Net
American, British & Continental Corp.—Redemption—
A
called
on
40
2,669,228
with 25 cents on July
compares
154,
of
holders
3,178,580
applicable
minority interests
20 to holders of record Dec. 5. A
share was also declared on the same
15r- last,. 40 cents on Dec.
April
on
April
on
stock, which
common
paid
was
Dividend—
dividend
2,819,536
Balance
Issue, payable April 1, next, to holders of record March 16, 1942.
Oh Oct. 1, 1941, a distribution of 20 cents per share was made on
cents
extra
an
4,220,297
to
other
dividend
original
of
company were amended so as to provide that
Chairman of the Board shall be the Chief Executive Officer
and
President shall be the Executive Officer of the
Jan.
Airline's
3,264,546
Portion
Goods Mfg. Co.—Two Dividends Declared
a
Export
639,303
deductions
Balance
declared
The
dividend
totaled
1145.
have
taxes—
Balance
Pref.
Arnold Applies For Short Cut in Alcoa AppealFrancis G. Gaffey. in U. S. District Court, Nov. 29. reserved
decision on a motion by Thurman Arnold, Assistant Attorney General
in charge of the Anti-Trust Division, for an order dispensing with the
filing of formal findings and facts and conclusions of law in the
government's anti-trust suit against the company. Judge Caffey com¬
pleted the four-year-old action on Oct. 9 by dismissing the case against
Alcoa after delivering a ten-day oral opinion.
Mr. Arnold asked for the order in an effort to expedite the appeal
from Judge Caffey's decision. It is the government's desire to appeal
directly to the U. S. Supreme Court without appealing first to the
Circuit Court of Appeals.
Mr. Arnold contended that Jin the ordinary
course of procedure-with the
filing of findings and conclusions from
Judge Caffey's decision by attorneys and the Subsequent appeal to the
Circuit Court, the matter would drag onsfor twp more years.—V. 154,
directors
reserved
was
by the Neutrality
7,
Dec.
on
Chairman of the Executive
President the late Simon Guggenheim.
The
struction—Cr.
judge
The
question
Sept.
on
March
on
May 15, 1940.
27,
23, 1939.
In addition, quarterly distribu¬
per share have been made from May 31, 1938, to and
of $1
one
appointed
of
issue
$2
on
Co.—Special Dividend
special
a
stock, no par value, payable Dec.
special dividend of 75 cents was
including Nov. 28, 1941.
W. Straus, Vice
until
Federal
income
Interest
approximately 49,000 shares of 6% preferred stock
(par $100) was offered after the close of business Dec.
2, by a banking group headed by the Mellon Securities
Corp. The stock was priced at $112.50 a share.
Aluminum
force
in
removed.
were
American
11,740,961
1,748,764
inc. taxes
for
operating
Interest
of
p.
this
1941—3 Mos.—1940
___
profits
Gross
Offered—A block
America—Stock
of
$
expenses
income
other
Of
remain
was
.
28,378,019
—
taxes
Other
special distribution of $2 per share was also made on the common
stock on Dec. 27, 1940, and on Dec. 28, 1939.—V. 154, p. 905.
Co.
which
restrictions imposed
as
cents
Property
retirement &
depletion res. approp.
on
A
Aluminum
certificate
Products Corp.—Extra
4
and
declared
/* Roger
with
this application.
1939 applied for a route to
reopens
Sept. 30—
Fed.
excess
5.
Dec.
filed
on
1939.—V.
revenues
Provision
regular quarterly dividend, previously declared on this issue, is payable
Dec.
the
of
capital
End.
Operating
Operating
Corp.—Special Dividend—
Dye
&
declared
application
an
24
this
on
A
8.
tions of 50 cents
the
American Power & Light Co.
cents per share has been
Chemical
directors
air
Dec.
below
terms
these countries
to
dividend of 30
on
Period
Other
The
permission
transatlantic
a
have
common
record
There
declared on the capital
stock, payable Dec. 29 to holders of record Dec. 15.
The previous
payment was 10 cents, made on April 1, 1935.—V. 151, p. 235.
dividend of
A
of
stock, payable Dec. 24 to
15.
The last regular
monthly dividend of 20
1, last.
Dec.
directors
the
on
its certificate of convenience and neces¬
York and Lisbon,
Portugal."
This
England via Eire.
Subsidiaries:
•
form
Disposition
taken
now
to
on
Dec.
meeting
special
a
getting
of
1940, and which will
acts
American Home
of Boston.
At
to
transportation
on
The
passed to a group headed by Gordon B. Hanlon
Trust recently
steps toward
operation
New
with
16,
the Board
as
application
of
July
on
certificate
Act
on
To
the 7% preferred
to holders of
on
Dec.
made
$1.50—New President—
the
between
accordance
it
the
amendment to
service
in
in
was
by the CAB until such time
interest
Route
American Export Airlines in
England Via
Eire.
Hearings on this application were in full progress when the
Neutrality Act became effective, prohibiting travel to these countries.
Although these hearings were concluded, the Board made no final
decision on the application to Eire and
England at the time it issued
Aldred Investment Trust—Interest Paid—
of
taken
an
air
such time
154, p. 905.
Semi-annual
For
According to James M. Eaton, Vice Presi¬
the step has been made possible by the repeal of
Airline,
the Neutrality Act.
8,486,320
9,799,511
2,719,671
238,180
•s
dent
granted
Gross
CAB
payable
was
as compared with $1.50 on June
19, 1941;
each on Aug. 15 and Nov. 15, 1940, and $1
154, p. 1257.
1940,
company on Nov. 26 took new
the Civil Aeronautics Board for
to England via Eire.
2,650,664
836,782
Crl6,288
238,265
deprec
route
$25,637,860 $22,735,998
215,145
120,358
-
profits
'excess
for
from
1941—12 Mos.—1940
$2,000,958
866,068
1,023,282
263,714
____
taxes—Gen'l
Federal
Provision
The
1941—Month—1940
$2,305,276
revenue
Export Airlines—Asks
England—
Co.—Earnings-
Period Ended Oct. 31—
Gross
American
154, p. 1257.
contracts—V.
accumulations,
similar distribution
American Smelting & Refining
of
.
_.._^War Department revealed Nov. 26 that it had
In
of
A
$2
—V.
stock
common
common
9.
last,
1941;
The
advanced $500,000
in order to enable the company to fulfill
account
on
record Dec.
dividend of $2 per share
has been declared on the common stock,
payable Dec. 15 to holders of record Dec. 2.
A like amount was paid
on this issue on March
14, June 16 and Sept. 15, 1941.
The only distribution made on this stock last
year was a stock divi¬
,
its defense
2,200,000
mon,
share
per
A dividend of $1.75
per share has been declared
Inc.—Funds Advanced By War Dept.—
Air Associates,
dividend
a
American Cigarette & Cigar Co.—$2 Dividend—
cents per
20
of 30 cents per share
declared
Dividend—
Insurance Co.—20-Cent Extra
dividend of
extra
have
additional
stock
share and the regular quarterly
capital stock,
par $10, both payable Jan. 2 to holders of record Nov. 29.
An extra
of like amount was paid on Jan. 2,
1941, and on Jan. 2, 1940, and
one
of 15 cents per share on Jan. 2, 1939.—V. 153, p. 978; V. 152,
An
dividend
directors
common
stock, payable Dec, 15 to holders of record Dec. 8.
This
is in addition to the regular
quarterly dividend of like amount, declared
in October, and payable Dec. 15 to holders of record
Dec, 5.
paid on Jan. 2, 1941, and. one of $1 on Jan. 2; 1940.
cents per share was
—V. 151, p. 3384.
Aetna Life
the
been
1373
Balance
——
—
Surplus credits:
f
Adjustment, Tennark, Inc., lease account
Prior
year
income
credits
-Jrk
yy
■
surplus at end of year
v',\H', "l~-
v
Hr
i
Hc
______
$196,996
3,643
•»
1.125
3.782
1,094.538
890,117
$1,437,263
——___—
Earned surplus as beginning of year
Earned
$341,600
$1,094,538
'T;
COMMERCIAL St FINANCIAL
THE
1374
".
Sheet July 31
Consolidated Balance
;;i
v
.C
Inventories —
tPropertv
assets.
Other
—
Deferred charges
•
—
——
——
—
j Total
since.—V. 154, p.
$371,750
308,285
payable
,
.
—
Accounts payable „™__
——
Personal injury claims.
Due estate of C. J. Tully, deceased
—
accounts
Accrued
stock—
cents on
and $5,825
$5,651,719 in
$525,000
116,309
332
9,764 >
133,856
Y;,City.—V. 154, p. 745.
Broad St., N.
11
,
Illinois—Accumulated Dividend—
;
been declared on the $6 prior,
preference stock, payable Jan. 2 to holders of record Dec. 10.
A
similar distribution was made on this issue on Oct. 1, last, the first,
payment since Jan. 1, 1938, when $1.50 was distributed.
Arrears as
of Oct. 2, 1941, amounted to $21 per' share.—V. 153, p. 98Q.
railroad.
the
Construetion Co.—$1.10 Dividend—
A dividend of $1.10 per share has been
declared on the common
stock, payable Dec. 26 to holders of record Dec. 17.
This compares
with 50 cents per share paid on July 1 and Oct. 1, last, 40 cents per
share on April 1, last, 40 cents each on Oct. 1 and Dec. 27, 1940,
35 cents on July 1, 1940, and 25 cents on April 1, 1940.—V. 152, p. 3961.
Canada, Ltd.—Year-End Div.,
year-end dividend of $1 per share has been declared on the com¬
mon
stock, no par value, payable, subject to the approval of the
Foreign Exchange Control Board, on Dec. 22 to holders of record Dec..
15.
Distributions erf 25 cents per share were made on this issue on
March 31, June 30 and Sept. 30, last; a year-end dividend of 60 cents
Dec. 21, 1940, and 25 cents in each of the three preceding quarters.
The regular quarterly dividend of 1%%
was also declared on the
preferred stock, payable Jan. 2 to holders of record Dec. 15.—V. 152,
Co.—Weekly Output—
reports that for the week ended
Associated Gas & Electric group,
123,691,713 units (kwh.). This is an increase of 16,101,071 units, or
above production of 107,590,642 units a year ago.—V. 154, p. 1258.
—V.
to
filed with the ICC by one
trucking
acqu.s.tion
.
Mo ran Transportation Lines,
Inc., Bristol, Va., and Trans¬
,
-
System, Inc., Taunton, Mass.;
Inc., Bufialo; Southeastern Motor Lines,
portation, Inc., Atlanta, Ga.
The Justice Department's anti-trust
Freight
division,' the National Traffic,
International Brotherhood of. Teamsters, Chauffeurs,
•
and1 the
League,
America opposed the application.'
•
operation, the examiner said, would offer the
public a more complete service in a large area along the eastern sea¬
board.
'
'
(
The eight companies operate about 3,300 units ofv equipmeht and.
the total highway miles, covered by. their regular routes is 37,884.
Each
company
would exchange its stock for stock in Associated
Transport, receiving preferred stock for 80% of net worth, and com-;
won stock based on earnings for the year ended April 39, 1941.
The
examiner's report is subject
to review by the Commission.—
proposed unified
The
•
V. 152,
p.
3961.
1941
1940
1939
1938
$249,360
$188,780
40,971
$178,229
43,889
17,566
$164,524
41,825
16,684
2,039,699
1,575,083
592,405
245,197
1,508,942
234,384
1,382,486
129,006,
199,130
5,363
"7,266
*108,269,1
October—
railway
from
Gross
Net
from
Net
ry.
income—
oper.
1—
Jan.
From
Net
from
Net
ry.
railway—.siincome—
oper.
154,
"Deficit.—V.
-
p.
'
26,071
857.
RR.—Earnings—
Atlantic Coast Line
$5,546,460
4,405,746
revenues
expenses,——
1941—10 Mos.—1940
$4,134,385 $55,463,695 $40,608,628
3,119,69Q 38,082,874 32,868,118
revenues^
$1,140,714
$1,014,695
$17,380,821
required for tax.
600,000
325,000
6,050,000
income™.
Net
amount
paid
for
rent of equip. & joint
$540,714
operat.
Net
Amt.
$1,290,756
$1,581,670 $12,883,291
1,133,319
8,240,400
1941—9 Mos.—1940
$32,595
$320,644 * $163,980
$0.16
$2.02
$0.91
'After depreciation, amortizations, Federal and States taxes.
(On
145,310 shares common stock (no par) and after deducting preferred,
;
on
Listing' Of Debentures— '
New
and
""""
the listing of
1956, which are
;
Facilities—
'
Net
ry.
154,
oper.
$7,740,510.
$689,695 $11,330,821
3,900,0Q0'
$3,840,510;
$486,845
income.
Automobile Insurance
•
extra
An
dividend
1.873,080
amount
(B. F.)
Avery Sons
bution
the
Period End. Sept. 30—
have
share has been declared on the common
declared a dividend of 15
stock, payable Dec. 20 to
'
.
•
.
."
• ••
Co.—Earnings—
,—1940
' 1941—9 Mos.—1940
'? 1941—12 Mos. 149.723
$17,984,802 $18,017,335 $24,236,092 $24 949,544
revenues
9,102,550
Operating expenses
lor
Prov.
.
11
1,141,404
1,203,222
1,54 5,134
590,350
1,368,131
1,713,280
,106,405
plant
adjusts—
45,776
45,560
61,035
.'-v
gas
acquisition
Fed.
12,249,052
1,285,238
Amortiz. ! of
Generel
8,780,475
r
depreciation--
Maintenance
mills
to
about 360,
of eoke-a day, >or
new
blast
brings the total at the
produce more than 1,000
whose completion now
coke oven battery,
tidewater
more
is designed to
than the solid
inc.
taxes.
Operating income
(net, Dr.)
'
'
$3,207,494
22,520
r>
106,293
2,647,582
414,100
,
3,485,551
843,100
,538,672
$3,560,264
2,605,139
597,200
taxes
normal
Other income
Gross
-
Int.
on
income
debt.
miscel.
long-term
and
int.
Other
$4,338,939
' ^33,341
$4,392,459
- - 59,085
44,433
$3,184,974
1,872,600
$3,515,831 $4,305,598
1,873,700 ;C 2,496,800
466.000
$4,333,374
2,501,200♦
250.854
238,340
$1,403,791
$1,557,944
$1.56
_________
153,065
$1,159,309
deductions
furnace.
t
demand
of high,
explosives.
'
"
„
...
.As for. the furnace, .it will produce better than 1,200 .tons -of pig,
iron daily. Plans call for tapping it every five hours or thereabouts.
Each time it is tapped some 250 to 300 tons of molten metal will be
formed into "pigs" to be converted subsequently into steel for pro-'
duction of
10. A s'nvlar distri-7
154, p. 537.
a
great diversity of items.
been got
The improyements were completed in record time? having,
under way last February. They are part of a general rounding out of,
facilities at the local steel mills aimed at meeting, the nation's defense;
,
needs.—V.
154, p. 858.
'v-
•
/;, .,;y■
Co.—Smaller Dividend—
The directors have declared
a quarterly
dividend of 40 cents per
share
on
the common
stock, payable Dec. 22 to holders of record
Dec,
10.
This compares with 50 cents per share on June 30 and
&
Decker Mfg.
Sept. 24, last, 40 cents on March 31, last, and regular
cents per share in preceding quarters.
In addition,
cents per share oh
holders of record Dec. 10.
An
cents
per
Sept. 20,
share
was
1940.—V.
paid
on
Dec.
154. p. 447.
20,
dividends;of 25
an extra of 10
1940, and one of 25 cents on :
" '
'
income
.Net
Earns,
on
per
share
745,364 shs.
$1.88
$2.09
7
- .
275,284
154,
p.
Brown
• »
746.
Co.
$1,556,890
based
issued
outstanding
end
—V.-
'
fuel needs, of the.mam-,
Besides, tbere. will be. a huge output of by-products, in, wide
for the production of vital chemicals, including the base
.
Black
Corp.—15-Cent Dividend—
directors
common
stock,
Nov. 29. An extra of like:
1941.—V. 151, p. 3386.
payable Dec. 22 to holders of record Dec.
was made on Oct.. 1, 1940; none since.—V.
Aviation
The
and the regular quarterly
Co.—50-Cent Dividend—
dividend of 50 cents per
stock,
$1,967,430
share have been declared on the capital
payable Jan. 2 to holders of record
was paid on Jan. 2, 1939, 1940 and
both
$9,676,994
Co. of Hartford—Extra Div.—1
of 40 cents per share
dividend of 25 cents per
A
$542,576
Ltd.—Interest—.'
& Paper Co.,
it
.
moth
1,653.827
147,119
1258.
p.
that
announces
:;/•
-
Operating
now,
—V.
•
due on May 1 and Nov.
Brooklyn Union Gas
:
, ~
cash of $459,804,
earned surplus at
will pay on Dec. 29 bond interest
1, 1941, together with interest at 7-%
per
annum
on
the face amount of each coupon from respective
maturity date to Dec. 29 on its general mtge. 7%
bonds. Paymenton these coupons was postponed
in accordance wPh resolution adopted
by holders of these bonds on Nov. 15,-1938.—V.-nSl, p. 2184.
*
"Sun" Nov. 30 stated: As a result of settlement of
battery of 61 new' coke' oVens;. designed' to turn, o.ufc;
approximately 35,000 tons of .coke monthly, went into operation this'
week at the Sparrows Point plant .of the Company. "
'*
Just as no fanfare marked the "blowing in" last, month of one of
the biggest blast furnaces ever to be, built in this country, the "charg¬
ing'^
the coke ovens will go forward in yoUtirie fashion,
•
- « •
Nevertheless, the completion of the two closely related phases of a
vast expansion program at Sparrows Point was revealed as a big step •
forward in augmenting steel production to cope With the mounting'
needs for defense items in general and in particular for. the manufac¬
ture of plates to go into ships to make up the two-ocean navy and the
enlarged American merchant marine.
_ .,
»
The
towering blast furnace, comparable in height to a city sky-scraper,
dominates the steel plant layout, dwarfing * six previously.
built furnaces.
'
'
*
Foreseeing a shortage of pig iron once the nation's steel mills have
expanded production to the full, the big independent producer decided
months-ago to round out its Sparrows Point facilities: to insure, first,
more coke,
and, second, more pig iron.
-
53,869
Steel Corp.-^Expands
total current
total current;
reserves.
A
•
Columbia Pulp
Company
coupons
& Hedges, New
Bethlehem
'
British
-
.
York—Stock Listed—.• : The Committee on Listing of the N. %' Curb Exchange has approved,
the application of company for the listing of 18,000 additional shares
of common
stock upon official notice of the issuance thereof upon
conversion of the 18,000 outstanding shares of cumulative convertible,preference stock.—V. 154, p. 1260, :
Z
Ci ]
Benson
'
147;
p.
.
2%%
,
$1,131,382.
Brillo has completed the purchase, out of cash, of an
additional,
building for its sales, general administration, warehouse and shipping
offices, thereby
allowing extension of facilities for plant operation,,
according to Mr. Loeb, who adds in his letter to stockholders that!
plant expansion is making such headway that December volume will
reflect resulting increased production.
"Inventories have been added to and consist of raw materials pur-'
chased at a real advantage,"
says Mr. Loeb, "while finished stocks
are lower than in previous periods.
Tax reserves make up the greater
part of the liabilities, with other items continuing low.
The company's,
labor contract has been
renewed through March 1, 1943."—V. 154,.
the common-stock
has f authorized
debentures, due Oct. 1,
outstanding.—V. 154, p. 1002. ,
*
Exchange
Stock
York
15-year
current
and
against 45 cents on March 31, last; •
50 cents on Dec. 31, 1940, and dividends of 45 cents per share in the
three preceding quarters.
r ; ;
..
.
. _
V
■ ,
$10,000,000
earlier current assets were $723,040, including
liabilities were $191,248.
Balance of
year
as
•
of
Sept. 30, 1941, was
Corp.-—Larger Dividend—]
dividend of 45 cents per share
quarterly dividend of 62 V2 cents
preference stock, $2.50 dividend series of 1938,
J.5.
r
'
The
Loan
and Sept. 30, last,
June 30
•
company's Sept. 30, 1941, balance sheet shows
$977,599, including cash of $519,817, against
liabilities of $396,370, of which $287,914 comprise tax
'
assets
1 declared a
stock and the regular
share on the prior
1941—3 Mos.—1940
$107,103
$0.68
share
per
dividends.
Dec.
•
Inc.—Earnings—
profit
•(Earnings
$14,303,860
9,837,305
847,723
the common
issued
1050.
Brillo Mfg. Co.,
$20,666,181
' 6,362,321
income-
directors on
The
stock,
16.
Period End. Sept. 30—
"Net
$68,298,537 $63,177,962
142,465
205,536
both payable Dec. 31 ia holders, of record Dec.
Distributions of 40 cents per share were made
on
on
common
154, p.
•'
1941—10 Mos.—1940
$2,262,905 $22,631,533
681,235
9,748,242
Beneficial Industrial
per
V.
154, p. 954.
The
on
Dec. 3 declared a dividend of 75 cents per share-'
no par value, payable Dec. 24 to holders of.
Distributions of 50 cents each were made on March
25, June 28 and Sept. 30, last, as compared with 75 cents on Dec.
24, 1940, and 50 cents in each of the three preceding quarters.'—
the
record Dec.
$62,972,426
42,306,245
income
tons
facilities
De¬
Dividend
Co.—75-Cent
Manufacturing
directors
'The
on
Pennsylvania—Earnings-
$6,657,806 $68,156,072
4,394,901 45,524,539
taxes
oper.
The
Operating
,
859.
p.
•
1941—Month—1940
Period End. Oct. 31—
Operating
Operating
51,534
-
railway.
from
Gross
92,149
railway——
154,
Briggs
The Baltimore
the coal strike a
RR.—Earnings-
Atlanta & West Point
$1,761,662 $19,037,293 $15,721,44ft
(before
amortiz.___
&
deprec.
—V.
and Helpers of
Warehousemen
r
Net
.
be
and
the
shares of common stock
of the eight companies.
,
,i
Companies involved are Arrow Carrier Corp., Paterson, N. J.; Barn¬
well Brothers, Inc., Burlington, N. C.; Consolidated Motor Lines, Inc.,
Hartford, Conn.; Horton Motor Lines, Inc., Charlotte, N. C.; McCarthy860,411
$2,092,730
expense?
earnings
Net
,
1941—Month—1940
$7,144,339 $6,683,201
13,750
25,395
revenues-
oper.
Net
>
that Associated Transport
preferred stock (par $100»
(par $1) in connection with
and of/
duly
$2,238,567
947,811
..
Yor£ be
of its examiners.
Operating
Trust Co., 46 Wall
$7,130,589
4,892,022
revenues.
expenses
Operating
—V.
examiner
also- recommended
authorized to issue 54,049 shares of
The
,
Net
:
control of
acquire
has been
concerns
Operating
Operating
York—Acquisition,
Associated Transport,-Inc., of New
eight major eastern seaboard
recommendation that
A
allowed
1941—10 Mos.—1940
v
•' 1
■ ■ A -■
$3,388,106 $35,339,366 $31,066,977
1,626,444 16,302,073 15,345,528
1941—Month—1940
*
"r
537.
p.
Operating revenues
Un'colleetible ' oper, rev. '
Co.—Proposed Merger—
of New
151, p. 3738.
Bell Telephone Co. of
announced Dec. 2, has filed an application (File
70-450> rcgard.ng the proposed acquisition, through merger, of all of
the assets of Central U. S. Utilities Co.
Assoc.ated'Electr.c Co. will
assume
all of the liabilities of Central U. S. Utilities Co. and will
surrender for cancellation the 1,000 shares of common stock (no. pari.
v of that company,
which it presently owns.—V. 154, p. 259.
Recommended—
154,
Period Ended Oct. 31—
Company, the SEC
Associated Transport, Inc.
Commercial National Bank &
$3,816,385
1,723,655
operation
;
'V,;.
year.
Light & Power Co., Ltd.—Earnings
from
earnings
clared—
'
of Concerns
1260.
p.
Period End. Oct. 31—
Gross
Co.—Extra Dividend of $1—
The directors have declared an extra dividend of $1 per share and
the regular quarterly dividend of 25 cents per share on the common
stock, both payable Jan. 2 to holders of record Dec. 12. An extra of '
like amount was paid on Jan. 2, 1940 and 1941, one of 75 cents onJan. 3, 1939, and extras of 50 cents each on Jan. 3, 1937 and 1938.
.The Atlantic Utility Service Corp.
Nov. 28 net electric output of the
;
the
for
154,
Brazilian Traction,
Beatrice Creamery
Associated Gas & Electrie
Associated Electric
—V.
principal
the rate
plus 1M? % "additional
said respective dates,
pertains will be paid.—V.
on
15%
service with :
with headquar¬
St., N. Y. City, of coupon No. 19, on or after Jan. 1, 1942,
coupon No. 20, on or after July 1, 1942, accompanied by
exe¬
cuted ownership certificates,
an amount equivalent in each case to
3%% of the principal amount of the debentures to which such coupon
Associated Breweries of
was
of
Estates—Debenture Interest—
to
surrender to
Upon
RR.—Officials Promoted—
^Promotion of three operating officials of the Boston & Maine and
Central railroads, effective Dec. 1, was announced by E. S;
French/ President of the two roads.
\
. .....
;
John W. Smith of Winchester was named Vice President, Operating,
of the Boston & Maine and Maine Central railroads and the Port¬
land Terminal Co.
Mr. Smith, who has been Chairman of the Eastern
Railroads Conference Committee conducting wage negotiations with
employees in Chicago, formerly held the titles of Vice President and
General Mamager of the Boston & Maine RR; and General Manager
of the Maine Central RR. and Portland Terminal Co.
.
v";;
Frank W. Rourke of Melrose was named General Manager of the
two
railroads and the Portland Terminal Co., assuming the duties
relinquished by Mr. Smith upon his promotion.
Mr. Rourke has been
with the B. & M. for 33 years.
, ; t
F.
W. Buckpitt of Melrose was promoted to Operating Assistant,
reporting to the General: Manager, of the three companies, being
promoted from his former position of Superintendent of Locomotive
Maintenance.
He has been with the B. & M. since March 16, 1927.
Maine
has declared payable as interest on the
1, 1942 the sum of $102,705 and as interest on the
July 1, 1942 the sum of $102,705, which in terms of each
annum
per
interest"
A
1418.
6%
transfer offices of company were moved,
Place, New York, to 632 South Front
N. J.—V. 152, p. 3489.
Boston & Maine
debenture is equivalent in the aggregate-to 7(4% of* the
amount thereof and will represent all current interest at
of
' I
Co.—Transfer Office—
stock
1, from 17 Battery
Dec.
Directors
of
debentures on
i
Dec.
Elizabeth,
Street,
debentures on Jan.
Art Metal
on
and
executive
The
,
was
Baragua Sugar
Board
Co.,
in¬
Corp.-—IQ-Cent Dividend—
Borne Scrymser
.
J.
J. P. O'Mal-
<,
appointed General Accountant
Baltimore.—V. 154, p. 1300.
at
ters
'
Myers
W.
James
-
record
of
effective
■
•
Vice President of
The
p.
Comptroller—
Price is appointed Assistant Comptroller in'? charge
effective Dec. 1, according to announcement by J.
accounts,
the company. Mr. Price succeeds
ley whq has retired from active duty after'46 years of
$1.50 per share has
dividend of
■
the month of. October, 1941, 296,333 cars were, handled
of 189,561 loaded on line and 106,772 received from con¬
In November, 1930. the total was 234,263 made up of ;
153,214 loaded on line and 81,049 received from connections.
L.
.
Nov. 28
on
earnings,
holders
During
Walter
u
--
-
declared a dividend of 10 cents per share,
the, capital stock, par $2, payable Dec. 20 to
5.
A similar distribution was made on Aug.
15, last, which compares with 20 cents paid on Dec. 18, 1940.—V. 153,
P. 1269.
'
'
'
' >• •
,
directors
of
out
consisting
;New Assistant
years.
Blue Diamond
The
nections.
of
Armour & Co.
,
connections.
revenue
19
properties will be operated by the American Gas Service
organized subsidiary of the Protane Corp. The« amount
in the transaction was not disclosed.—V. 154, p. 1100.
volved
the total was
58,751, with 36,135 loaded on line and 22,616 received from conpec-.
tions.
For the same week of 1930 the total was 48,837, including »
32,035 loaded on line and 16,802, received from connections,
The company handled 261,374 cars of freight during the month of
November, 1941.
Of this total 165,500 cars were loaded on line and
95,874 cars were received from connections.
This was ail increase
of 35,870 cars handled over November," 1940, whfin the total was ,
225,504 comprising 146,831 loaded on line and 78,6I5,3. received from
•
for
The
a-newly
week (the week ended Nov. 22)
.During the previous
Ekin,
A
service business
tries
received from connections.
17,881
and
line
275,723
2,168,137
55,309
1,094,538.
.
'
■
RR.—Car Loadings—
For the week ended Nov. 29, 1941, the B. & O. handled 62,555 cars
of freight, including 41,310 loaded on line and 21,245 received from
connections.
This was an increase of 10,501 over the same week of
last year when the total was 52,054r, consisting
34,173 loaded on
Delaware—Bonds Called—
A total
of $233,000 of first mortgage 20-year 4%
sinking fund
bonds, series C, due Jan. 1, 1957, have been called for redemption as
of Jan; 1, 1942, at 102 Va and Interest.
Payment will be made at i
Continental Illinois National Bank & Trust Co., 231 La Salle St.,
Chicago, 111., or at the Chase National Bank of the City of New
York,
has announced the
the Protane Corp. of
to
ties
,
_
com¬
com¬
Baltimore & Ohio
of
Armour & Co,
■
Dividend—'
Oct. 31, •
31 and Dec. 20, 1940, and 20
payment was 25 .centa, in. Apfil,.
1189.
1938.—V. 154, p.
-
-
•After reserve
of
268,271
2,154,637
59,785
1,437,263
each on July 31, Oct.
April 30, 1940.
The. previous
cents
40
of Ohio, a subsidiary of the Blawsale of its assets and operating proper¬
Erie, Pa., which has been in the gas,
supplying liquified petroleum gas to homes and indus¬
Gas Service Co.
The American
have declared a dividend of $1,. per-share «m the
mon
stock, payable Dec. 17 to holders of record Nov. 29.
This
pares with 50 cents per share paid on April -30, July 31 and
last;
Ohio
noneBlaw-Knox C&.—Sells Gas Subsidiary-in
The directors
$5,084,916 $4,378,970
for doubtful notes and accounts receivable of* $696 in,
in 1940.
tAfter reserve for depreciation and depletion
1941 and $5,349,958 in 1940.—V, 151, p. 3225.
Total
1941
34,038
450,887
,——
Appreciation of land and timber
Capital stock it.———-—---•—
Surplus arising from acquisition of own
Named surplus ;
—
•
made on July 22, T938;
Co.—$1 Year-End
B&bcock & Wilcox
.
Liabilities—
Notes
of 18>/2 cents was
1259.
Knox Co.,
$4,378,970
$5,084,916
™—
—
,
—
distribution
initial
"
'1941 7,
1940 7
$190,318 . $185,363
561,846 ,, 391,793
' "
20,574 •"
13,287
1,505,570 1,288,569
—2,579,870 ? 2,295,869
172,941
167,308
53,797
30,780 •
'..V..'.
1
Cash on hand and In banks——
•Notes and accounts receivable——
Advances to timbermen
Assets—•
Saturday, December 6, 1941
CHRONICLE
—
t
$2.09
; >
Reorganization Plan Consummated
—
$4,500,000 of $6,500,000 Loan From RFC— »
•'The
company,
leading producer of purified cellulose from wood,
announces that its plan of reorganization as confirmed by the United 7
States District Court at Portland, Me., has been consummated and.
Takes Down
securities to be issued are now available for delivery,'
has taken down $4,500,000 of the $6,500,000 loan'
Reconstruction Finance Corporation and the balance of,
$2,000,000 has been reserved for capital improvements.
After riving*
effect to consummation of the plan and the receipt of the
from the RFC, it is indicated! that consolidated current assets of
company- and its subsidiaries before making provision for
for fees and expenses to be approved bv the court and the RFC. will;
exceed
consolidated current liabilities by not less than $12,600,0001
amd that the company will have no other liabilities except on account;
of the RFC loan, and new general mortgage bonds not in
excess of
$12,849,300 principal amount.
The new directors have taken over operation of the business from,
the trustees in
the 77-B proceedings.
These directors are: Robert;
Braun,
conservator, Fidelity Trust Co.,
Portland, Me.; Orton B..
Brown, trustee, Brown Co. in 77-B proceedings; John H. Fahey, Chair-!
man,
Board of Directors, Home Owners Loan Corporation; John J.t
Hagertv, Manager, New England Agencv, RFC; H. P. Kendall, Presi¬
that
the
-The
from
new
company
the
$4,500,000'
the'
allowances'
dent,
Treasurer
and Director, The
Kendall Co., Boston; William De-*
Volume 154 ; Number 4016
'
THE COMMERCIAL & FINANCIAL CHRONICLE
.■4;* •.'/ J'
President, The First
*
•
National
Bank,
25 cents per share* both payable Dec. 31 to holders of record.
Dec. 16.^ An extra of 25 cents per share was paid on this Issue on.
June 30 and Sept, 30, last.
...
•
'
■
'
\
The directors also declared the regular quarterly dividend of $1.75.
per share on the '7% cumulative participating preferred stock, payable
Laurence F.
Whittemore,; •
President, Boston & Maine RR. and Maine Central RR.
The three voting
trustees are: Charles Francis Adams, Chairman,- <
State Street Trust Co.,
Boston; T. Jefferson Coolidge, Chairman of.-.United Fruit Co., Boston,
and Dr. Ernest M. Hopkins, President of'
assistant
H.
College, Hanover* N. H.
Carruth
P.
tions of
has
President
Vice
elected
been
in
charge of
The Royal
and
of Canada,
Bank
opera¬
consummation
the
of
plan
the. interested .parUes,; including.; the
Federal Court. Y'Y'" "■
'
'
?« '
5
"The
this
of
result
cooperation
Gross
from
The
the
The
stock
of
York
New
Curb
followed
action
declared,
the
on
$6
cumulative
154* p,
stock;
preferred
no
Value,
par
National
Bank
extensions
>
and
v.
Exchange
each
p.
extra
An
both
of
$1.50
was
paid
*•
of
of
dividend
25
Cents
of
Cj,:
75
payable
The directors
the
The
the
;
stock,
common
1940
the
regular
directors have
paid
company
dividends
and
$21 p6r
total of
a
$15
declared
share,
dividends.—V.
extra
dividend
extra
an
Calamba Sugar Estates—Plans
Jan.
154,
and
1,
the
i
will
intention
The
in
vote
of
20
cents
1
share
per
trustees
effect
liquidation prior to Dec.
complete liquidation of the
a
Sept.
30,
1942.
,
.The
cents
Dec.
15
Vincente
holders
to
of 25
quarter.—V.
30,000
is
shares
Each
Sugar Mills,
increase
to
value
par
'
share
to
receive
share
of
the
interim
of
of
the
voting
trust
transferred
the
and
hold
a
the
Calamba
for
cents
share
per
were
made
on
,v
ri;
.
cents
1
made
also
were
and
Aug.
15
and
during
3Va%
Chicago
written
of
Philippine
sheet
$2,490,486,
the
dividend
of
$3.50
Trade
Commission
share
per
payable
income
of
as
voting
(&
Nov.
26
complaint
a
trust.
to
He
-
be
*Applic.
Subs.)—Earnings—
;; of
no
statement
proxy
Federal
or
income
1,220,682
1,184,077
Inc.
ree'd
Net
$6,568,493
$6,106,880
$7,288,512
4,866,781
4,517,265
4,947,295
4,808,872
$1,701,711
$1,589,615
—V.
Shs.
298,297
317,831
236,706
192,077
Crl38,154
Chicago
of
Chicago
the
to
Railways,have
Ry.
f.led
recommendation
by
operations of Chicago Surface Lines
interest on tnese bonds be made at this
Cr54,000
Cr54,000
1939
H$l,538,8l6 H$l,220,708 tl$l,133.707
$1,973,026
835,521
835,521
§835,654
1940
$7,848,089
2,147,095
2,426,260
1,670,312
1,312,584
80,732,563
!
1939
$8,824,314
•___
1938
300,444
69,072
285,680
$391,995
——
$7,.210,148
2,109,335
1,,680,721
1,331,979
942,119;
65,744,688
,003,243-
24,204,869
67,146,488
14,885,851
12,890,182
,479,965
15,647,382
oper.
6,139,717
4,298,018
,473,268
$84,743
$228,981
to
$108,780
742,674
742,712
742,913
$2.04
$1.62
$1.51
$2.66
support
that
received.
§In
addition
to
the
dividends
in
the
preceding
fiscal
minority
interest
amounting
$14,487 in 1939.
1940* and
ended
year
to
July
$22,994
in
Assets—
that
$180,880
fCaSh
$171,869
114,018
114,602
35,533
$19,265
u
received,
$10,946
*2*059
$29,984
366
Growing
and
supplies
617
New
834,069
Co.
Alcohol
$21,324
$11,246
$30,351
1,251
_—
1,368
2,025
2,183
734
1,610
2,207
2,509
5,957
;
taxes
4,650
$15,423
8,000
,
$0,636
:
$22,351
$20,760
Deferred
Claims
■„
12,000
-
»
impts.
(not
tCommon
Accounts
stock
$26,917;
taxes
accrued
or
reserved
for,
$4,650;
of class
capital
stock
(16,000 shares of class A and 12,800 shares
B),. $203,153;
"earned surplus,. $1-7,190; total, $236,499.—V. 152, p, 1124.
,
a
-•♦Central
15,784
201,618
340,217
—$3,766,870
Surplus ;
Treasury
,
320
mortgage
the
the
Igoe is somewhat
does
not
Co.
fate
Lines
necessarily
first
mortgage
the
to
appears
bondholders
of
fact
provide
the
several
junior security
holders
of
court.v-
assume" that there will be a readjust¬
companies will be
granted
relief
in
rights from the uneconomic rates now
the
legal
Sept. 30—
_-_-l
1941
1
;
and
Federal
$425,610
$1.11
,
income
stock.—V.
common
1940
$414,835
1
-
share
per
inc.-and
and
152,
excess
p.
profits
$1.14
taxes.
tOn
2699.
1941—3 Mos.—1940
$955,607
584,000
156,800
972,400
223,500
136,775
107,217
256,474
147,500
,964
$365,079
$1,080,724
$584,607
(est.)___
on
parent
comparty's fund, debt, etc;
14.574,034
Drl68,012
$2,309,597
Int.
;
323,223
14,978,528
$629,097
Net profit from opers.
220,000
.
1941—9 Mos.—1940
$1,289,739
excess
minority interests
320
220,000
410.172
—__
debt
Transit
in
junior
the
Proportion applicable to
632,643
..
stock
and general taxes__
stock
by Judge
funded
off
cut
Thus,
747.
p.
charges
Federal
22,824
580,643
:
—r—r-;
lines
to
case.
City Stores Co. (& Subs.)—Earnings-
213,568
______
Co.
1939
included an acceptance of the esti¬
for earnings of the proposed new company,
Period Ended Oct. 31-
„
$3,766,870
196,526
;
Machete
tend
any
Surface
the
first
to
that
their
154,
profits taxes
—
for income
Reserve
in
Rapid
by
year
and
with
profit
"After
"
contingencies ___—
SCentral Aguirre Sugar Co. stock
these
secured
while
"obliged
was
12 Months Ended
$19,985,047 $19,585,470
for
Reserve
Inventory,
the
333,000
______
—
would
lines
for
the
group,
375,000 shares of
327,095
"
'
payable
credits
Deferred
(net),
for
determined
force.—V.
1,584,293
179,410
-:
by
indicated
'
45%
—
set
had
City Auto Stamping Co. (& Subs.)—Earnings—
tEarnings
completed)
—
valuation
companies
Chicago
valuation
this
fares
"Net
taxes -—-J—________
Liabilities—
,.Vt..
1941
of
599,233
1,181,462
charges
for
to
the
the
"Consolidated net profit
$14,094
18,400
16,000
*
.■
Sheet Sept. 30,
accounts receivable
$52,487;
in
3,868
^
bad debts—
the
be
accordance
2,936,166
440,100
and
Construction
of
of
the
rulings
elevated
allocated
amount
position
he
1,524,835
(representing
the
as
for
Igoe's memorandum also
1,230,301
England
'
the
$12,000,000
2,142,897
crops
Sugar and molasses
Investmentsy-V-L--L_jvs.a—A
$21,735
300
<
1,137,957
—
receivable
Materials
$57,267
36,878
607,541
1,103,324
states*
1,140,888
984,192
of
coverage
said
ment
1940
1,827,217
securities
court
the
to
Judge
$9,507,311
—
Marketable
recent
the
still
1941;
1941
trustees
companies in
31,
$9,391,607
hand,
valuation
than
mate of
'
security holders
many
other
Meanwhile,
•
July 31
assets
"Wall Street Journal"
bondholders.
shown
1*
surplus
on the court's action the
holders
weaken
above,
from
By Court—
set
as
the
the
less
—
Set
groups
September
on
dividends
value
several
security
742,674
per
share
stock
Surface Lines—Valuation
District
exchange plan.
out.
par)
"Fixed
$59,889; land, buildings, machinery and equipment (net), $96,748; de¬
ferred expense, Y$457;;total*;:$236;499.
>
Liabilities—Accounts payableand accrued liabilities, $11,505; Income
Drl68,0.12
86,119-
COrtSOl. net profit____,
and
80,967
$482,845.
"Before
;
Federal
interest
and
income
profits
excess
company's funded
on
254,601
$284,112..
260,626
$826,123
taxes,
$323,982j.
minority
interest
debt.
.
Total
,
Cambria & Indiana
RR.—Earnings—
1941
October—-
Gross
from
Net
ry.
oper,
From Jan, 1-^
Gross from railway
from
1938
t
$149,630
-
$118,708
47,684
48,976
51,544
81,462
94,159
97,51^
*V
i;
'
1,564,890
1,274,832
645,219
V 444,969
railway—
.
751,373
'
765,491
^
1*148,494
;
;
.945,548
J j- 397,108
650,735
estate, roadway and track, mill, buildings, rolling stock, port¬
carts, implements, &c„ after reserve
.depreciation of $4,769,398 in 1941 and $4,551,391 in 1940.
tRepre-
directors' have declared a participating dividend of five cents
per share in addition to the regular quarterly dividend of 25 cents
per share on the first preferred stock, and a participating dividend of
five cents per share in addition to the regular quarterly dividend of 13
cents per share on the second preferred stock,
all payable Jan. 2 to
holders of record Dec. IS.
A dividend of 12% cents, per share was also
declared on the common stock,, payable Jan. 2 .to holders of record
Dec. 15. V- '
1 }'•"
f-1't1V";
7
The
,
respective
issues
since
The
directors
on
on
Dec.
the common
1
declared
an
extra
dividend
for
in
Dec.
2
declared
payable
initial-distribution- of like
stock,
common
16, last year.—V. 154, p. 955.
('
;
:
•
■
■
dividend
20
of
10
holders
to
was
made
on
cents
of
per
issue
■
'
?
•:
'
.
•'
.
t'-r
on
11;
Dec.
of
50
cents
per
the
City's proposal
to
than
more
acquire
the
the
re*
company
'.V-:2,v
total 313,944 Shares outstanding, 210,891 shares were voted
favor
of
-
,
\
„
accepting the City's proposal, while 60,223 shares were
the proposal.
Shares voted
in
favor
of
acceptance
1,595 shares the necessary two-thirds majority of 209,296
.
would
share, to realize proceeds of $1,641,550.
Of the proceeds, $900,000
as additional working capital and the balance of $741,550
"*
October—
from
Gross
to
from
guarantee
street
car
interest
and
bus
and
principal
pay¬
operation.—V.
154.
•
Clinchfield
'
mortgaged
revenue
'
1189.
p.
be
of
out
ments
The SEC oh Nov. 27 granted th'e company's application to issue and
sell to Niagara Hudson Power Corp. 65,662 additional shares of coiiit
mon
stock without par value
(stated value, $25 per share) at G25
,
,
The City's proposal provides for issuing $14,127,480 in bonds neces¬
for paying the company's stockholders $45 a share. The traction
sary
system
■
-
;
per
share.
a
-
the
shares.
share
Dec,
Central New York Power Corp.—To Issue Additional
Stock
include
voted! against
record
this
'
r"
;
a
Dec.
amount
number of votes
$45
Of
•
exceeded by
Net
from
Net
ry.
RR.—Earnings—
-
•
'
-
.
railway™.
:
1
•
1940
1939
1938
income
$984,180
$671,886
$746,375
$589,870
560,773
railway
operat.
1941
351,104
429,992
309,649
431,521
301,959
389,057
299,017
applied in partial reimbursement of the treasury for the cost
Of reacouiring shares of its-preferred stock, which amount will then
railway.™
Net from railway
9,177,669
6,998,251
5,868,682
4.804.040
5,438.925
3.618,053
2,975.000
be
Net ry.
4,609,954
2,960,439
2,616,568
is to be used
^
stock, in addition to the regular quarterly divi-
on
the
is
Canadian Celanese, Ltd.—Extra Distribution—
fchare
directors
on
net
Stockholders on" Nov, 27 formally approved by.
quired
;
;
Central States Edison, Inc.—Dividend No. 2—
The
Similar dfstr'butlons have been made on the
and including1 Oct. 1, 1940.—V. 153, p. 1270.
"
deposit
d
does
Cleveland Railway—Sale To City Approved—
;
sented
:byi 753,374, shares of no par value.
^Includes- certificates of
amounting- to $100,OO0.
§16 shares at $20 par.
([Represented
by 10.700 shares of company's stOGk at cost.
**2,200 shares at $100
par value.—V. 154, p.*1051;"
statement
earnings- of WFII»
Broadcasting Co., a recently acquired subsidiary.—V. 153, p. 1271.
able rack] steam plows,5 livestock,
for
An
Ltd.—Participating Dividends—
_
Note^The " above
$19,985,047 $19,585,470
;
Canadian Canners,
<
—„
266,625
745,896
:
1-
.
♦Heal
1939
■
96,066
;
Net rv. oper.v income.—
Mf. 154,-p.'859.
1940
$150,064
95,638
-
income*—
;;
Net
-
$194,471 '
railway_l__
railway—1™
from
Net
•
$7,661,624
'
reorganization
the
1,578,566
311,300
stock
"Includes
.
1938
112,064
Balance
•
A#.;
by Judge Igoe still leaves in the dark exactly how
of security holders of the properties in question will
fare
in
the
exchange for securities of the proposed new Chicago
Transit Co. On ifs face,
the new valuation does not appear likely
Cr75,600
"
»
■
154, p. 860.
The
Cr54,000
________
surplus
capital
capital
.
1940
$66,862
franchise
Court
and
income___
1—
Commenting
New
—_
Earnings
-Earnings-
"Includes bad debts recovered.
,
mature
Judge Michael L. Igoe, in a memorandum has set
value of $179,348,468 on the Chicago Surface Lines
and Chicago Rapid Transit
Co., of which approximately 76% would
apply to the former and 24%
to the latter.
Unification of these
companies is provided for under a city ordinance Which is awaiting
approval of security holders and voters of Chicago.
275,949
Co.
Consolidated Balance Sheet
$158,526
Net
and
iron
$5,100*000.
will
1261.
South
&
District
railway___.
Federal
305,996
326,374
distributions
(no
Current liabilities totaled $290,905.
35,516
Assets—Cash,
railway
Chicago
•
$2,341,217
285,541
tax
from-
income
Balance,
July 31, 1941, shows total cur¬
$1,145,807 cash, $172,910 U. S.
$46,462
profit;.-™
Dividends paid _—•
"•
70-ton
250
than
more
certificates
bondholders
Calumet
railway
Income™
from
Net ry.
$2,096,731
—
Total
«
mortgage
and
Federal
railway
from
On
Charged against surplus
of July 31, last, was
37,530
franchise
&
and
cars
at
The
1941
from
from
Net
of net prof.
Dividends
as
$56,795
allowed
1,375 box
estimated
1,375,701
England Alcohol Co._
or
___
income
first
in
of
•
1,083,323
shows net
expense,
for
of
is
by noon Dec.
16.
to 1952.—V. 154* p.
Railway
Net ry. oper.
From Jan.
$5,912,811
ownership)
Total
in
cost
October—
Gorss
;
'
Allow,
which
Immediate
Gross
$4,922,803
Machete
Cent..
Divs.;
for
sell,
Discounts
*
Chicago Rock Island & Pacific Ry.- -Earnings—
-
,
$5,347,810
&c.;
por.
will
also
formed
profit
—
9.
"
likely
'
1938
one
124,312
discts.
&
Dec.
March 1,
on
ruling on this matter by Judge Michael L. Igoe
as
he has indicated he
first
wants a
report of security
acceptance of the proposed reorganization plan for Chicago
traction system. Before such approval can be
obtained, however, the
court will evidently have
to rule on certain proposed modifications
in the 1939 plan with respect to rate of
exchange of new securities
for old.—V. 154, p. 1189.
I
is
*
1939
income
for
receive
$181,107
sales
Profit
Int.
record
holders'
—$6,905,603
earnings'
Accounts
i
of
1940, and
'
No
1940
receipts.-
income
Reserve
Other
taxes
1941
sales
&
holders
to
corporation,
Depreciation,
389.
California Art Tile Corp.
Gross
22
time,
Dec.-
Against Corp.—
dismissed
that
on
a
Calamba's
Sugar Estate will
corporation
the
in
including
Years End Sept. 30—
-
divldend t-f 23 cents per share
a
Dec.
* for $3,800,000 equipment trust eertif 1*
bids
the
management
payment of Aug. 1
in
Admin.
will be
July'
maturing on
»
1939.-^V.'154, p; 955.
of
be
joint board
but
.
to
City
$18,112
of
bonds
i-Z
this issue on Dec. 23,
of
answers
bringing total assets to $5,264,114.
Cost
payable
asking for
Attorneys, for
t
as'
on
1940
of
one
is
Net
Com¬
Chicago Railway—Litigation—
^Includes
•
stock,
serially from 1943
1938.
p.
Nov, 28 declared
on
cost
the
are
deduction
153,
6%
.
75%
cover
cars*,
Bids
share,
per
to
Cates
sufficient
^-V.
$550,000 general mortgage
Company; Is
-
shares of Pampanga Sugar carried at $100,000 and miscellaneous items
•
Commerce
Chicago & North Western Ry.—To Sell Equip Trusts
the shareholders of • Central Aguirre Associates received on
1038, from the special partners of Luce & Co., S. en C„ a dis<?
tribution
amounting to 37% cents per share.
This appeared as a
of
Is-",1
•
Get.
assets
1,260,681
interstate
from the
152r p.,3493.,
common
Treasury bonds, $476,413 accounts receivable and $695,355 inventories.
Other assets include the $2,500,000 note of Vincente Madrigal, 15,000
rent
2,988,610
231,935
4,031,634
1,065,694"
4.
$5,822,280
Net
estate.
submitted
balance
condensed
14,075,504
4,163,190
June 1, Sept; l and Dec. 1,
the
on
molasses -& cane
Total
of
note
voting trust certificate for
a
profits taxes was deemed unnecessary.
which showed a deficit of $180,758
The
15,043,115
17,815,984
6,142,946'
2,490,874
proceeds
retire
the
Products
Agricul. & mfg. expenses
due
assets
$2,500,000
will
trust
account,
:
Dec.
dividend of 50
a
semi-annual
sales
$566,930 loss on sale of properties.
:
declared
May
regular
Federal
Sugar,
comprising 15,000 shares of capital
capitalization of Pampanga from
stock to 500,000 shares of $6 pa£
'■
'•
estate
share
one
present
statement
Provision
excess
record
declared
154, p. 1145,
Stock .distributions
Miscellaneous
profit of $211,337 for the 10 months ended July 31, 1941, constituting
the first 10 months of the current fiscal year which ended Sept. 30,
1941.
of
been
1941
,
voting
a
including
Sugar Mills under the
Pampanga
entitled
The
has
Consolidated Income Account Years Ended
July 31
share
15,166,286
578,46»
231,460
.
,
860.
The directors
Net
a
$1,815,539
670,339
316,534
734,065
to borrow $550,000 from the Continental Illinois National Bank
Co. of Chicago with interest at 2%%.
The
to
to
be
applied ; toward
advances
owed
to
the
payment
of
a
like
amount
Niagara Hudson Power Corp.—V.
of
open
154, p.
account
1002.
..
From Jan.
—V.
1—
:..:v;'
oper.
154,
p.
income™
860.
•.
;
from
Gross
5
$1,730,597
356,176
A like amount was paid on
,
■
for each
of
share
each
Islands,
purchaser.a.. The
$100
of
the
present1 shareholder
hold
be
in
planned
stock.
value
or
located
Pampanga
It
stock.
1
on
'
1938
,
...
Madrigal,
in
interest
share
per
Central Aguirre Associates
$4
1939
-■
<i
Chicago Mail Order Co.—25-Cent Divdend-
through purchase of the capital stock of
Corp., had violated a section of the Clayton
Act forb.dding a corporation from acquiring control of another in a
manner to .restrain trade or create a
monopoly.—V. 154, p, 147.
also was confirmed and to
estate within three years from
<•
sources
less than
..
V
)
.
stock,
each
the
Date
$1,908,470
-
income
p.
1947.—V.
on
first participating preferred stock,
holders-of record Dec. 16.—V. 154, p. 1261.
Certain-teed
25
The
plan contemplates the formation of
To the latter will be
Philippine corporation.
from
1,
was
the
to
charging
'
distribute not
to
partial
Trust
used
■
Celotex Corp.—Action Dismissed
to Liquidate—
the proposals.
upon
the
of
mission
&
by
noteswill bear' Interest
cumulative
77f
Plans for liquidating the company are disclosed in a
proxy statement
issued in connection with a spec.al meeting called for Dec. 11 at which
shareholders
evidenced
10.V
J •' v-v- ',/ ; "
V-The directors also declared the regular quarterly dividend of $1.75
per share on the 7%
cumulative series prior preferred stock, payable
on
the common stock, payable Dec. 27 to holders of record Dec. 12.
Regular distributions of 35 cents per share were made on June 2,
Sept. 1 and Dec. 1, last, as compared with 25 cents on March 1, last,
and 25 cents each on Feb. 15, May 15, Aug; 15, Nov. 15 and Dec. 23,
1940.—V. 154, p. 1145.
.
be
Dec.
31, both
The
will
payable Dec; 31 to holders of record Dec. 19."
paid on March 31, June 30 and Sept. 30, last, as
cents on Oct. 15,1940, and 50 "cents each' on April 1 and
amount
against; 25
July, I,. 19.40.
follows:
2V2'/o
quarterly-;'
regular
the
on
Burlington Mills Corp.—Extra Div. Of 20 Cents—
j
loan
.
and extras
Dec.
on
common
like
154,
1940
to
Chicago & Illinois Western RR.—Asks $550,000 Lbari-**
Celanese Corp. of America—50-Cent Common Div,—
A
l:'
railway____
railway
oper.
Year
283,493
Company has asked authority
ore
51.
p.
—Vv
1940K ttf and including Nov.; 10,-1941, regular dividends!
share
per
"the common stock each
holders of record Nov. 29.
An extra of $3
last, extras of $4.50 each on March 10 and
10,
$6
*542,024
from
ry.
;.C
and
$2,038,452
685,732
from
Net
Net
*129,787
*549,622'
*87,825—
October
■tt
Boston.
r
Front Aug.-10.
of
to
year
During
consisting
''V
10
Sept.
on
10, last;
the
June
of $1.50
per
share and
share have been declared
per
payable Dec.
Gross
1,137,755
f,164,718
-
*85,935
*621,565
raihvay___^
I—
of
1941
,
from
,f Prbni' Jan.-
improvements to the company's plant and property.—
"
stock,
common
J
Sharpe Mfg. Co.—Extra Dividend—
dividend
extra
dividend
*56,692
(A. M.)Castle&, Co.—Extra Distribution—
.
on
,;.7An
*66,625
Month
Net from railway
Net ry. oper. income___
*12,901.
quarter
July 16, 1949.
W —V.
154, p. 1050.
Brown &
Gross
$122,450
*23,127:.
the
October—
*
859,
1189.
154,
A like amount was paid,'
dur.ng the -current year, and also on
The previous payment was $1.50 made on Jan. 1* 1938.-
this 'issue
$113,852
1,321,278-'
payable Jan. 1 to holders of record Dec. 19.
on
1938
;v
which will mature not later than Sept. 30,
1943, and
at a rate not to exceed V/c per annum.
The funds are to be used for
A
been
i'
1939
.
Company has -filed with: the SEC- a declaration or application (File70-446), regarding a. proposal to borrow not more ..than $300,000 from the
company
receipt by
r
Earnings for
Cape & Vineyard Electric Co^—To Borrow $300,000—,
t
Brown-Forman Distillery Co. — Accumulated Div.—
dividend of 50 cents per share on account of accumulations hafr
'
".
""
Jan.
from
"Deficit.-—V.
of
was
removed from unlisted
at the close of business
the* Curb Exchange of notice
that the plan, of reorganization of company has been consummated
and that thcr transfer books for the 6% preferred stock of the company have been permanently closed.—V. 154, p. 1260.
Vi-.l
"v '
preferred
on
2.
*50,394
i-srv
-railway—22V 1,639,950
railway-"-—— : '
149,494
Net ry, oper. income—:
*456,573
Gross
and
6%>
trading
*6,801
Net fVom
*
Dec;
$131,382
43,263
*16,295
.
income™
oper.
From
*
Stock Removed From Unlisted Trading—
.
\*
England—Earnings—
1940
from, railway—
ry.
First
-
*v'*
154, p. 51.
$221,649
railway
Net
announcement, "by the strong financial condition of the
its-expectancy, of continued profitable operations."
•
company's
company
/
16.—V.
.1941
Net
evidenced," according to the
is now
Dec.
Federal, agenciesand, the.
:all
"•.
efforts
combined
the
represents
record
October—
-
$ub«.agent for residents in Canada.
The
holders of
to
.
P. Q., is exchange,
Montreal,
31
Canadian National Lines in New
the company;
Chicago Great Western Ry.—C. & O. Sells Stock—
P. *H. Joyce, Chicago, 111,,
bidding for himself and associates, was
high bidder for 16,800 shares of common stock, representing all ot
Chesapeake & Ohio Railway's holding of these shares.
Mr. Joyde i3
President' and Chairman of the Executive Committee of the
Chicago
Great Western which was
reorganised early this year.
,
.
Dec.
...
E. H. Maling, Treasurer and Assistant Secretary; V
R, W. Bowlen, Assistant Treasurer; John B. Hopkins, Secretary, and.
Leonard. A. Pierce, clerk,,
r^
». .) Yj'CY - »*t
x
The company is now mailing notices to all known security owners
enclosing letters of transmittal for use in obtaining the new securities.,,.
National Bank of Commerce of Portland, Portland, Me., is exchange
agent*
.
to
Dartmouth
:
Boston;
1375
dend of
Krafft, N. Y. City; George A. Morris, Vice President, General Manager
and Director* The Ogilvie Flour Mills Co., Ltd.; Serge Semenenko, Vice-;
W
2 064.270
c
1,727,413
'
THE COMMERCIAL & FINANCIAL
1376
Climax Molybdenum
directors on Dec.
The
.
the
for
tributions
Co.—$1 Year-End Dividend—
declared
2
dividend of 30 cents per
a
29,
share
ended Dec. 31, 1941, and a year-end dividend of $1
per share, both payable on Dec. 22 to holders of record Dec. 12.
On Nov.
18, last, an extra distribution of $1 per share was made
on
the stock.
The last previous regular
quarterly payment of 30
cents was made on Sept. 30, 1941.—V. 154, p. 1146.
15
cents
share
per
also paid
were
Feb. 28
on
and
April
1941.
With
quarter
of
CHRONICLE
the
total
$1.15
—V.
154,
current
declaration,
share
956.
per
p.
total
payments made in 1941 will
compared with a total of 65 cents in 1940.
as
"'"'-■'•V'-f"
Delaware Lackawanna & Western RR.—Promotions—
V. Funk, freight agent of the Lackawanna EE,, Binghamton,
Y., has been promoted, effective Dec. 1, to Manager of Station
Service, reporting to G. J. Ray, Vice President of Operation.
He will
be succeeded by L. A. Hillman, agent at East Buffalo.—V. 154,
p. 1301.
Saturday, December 6, 1941
Vancouver, and Amherst Distillers, Ltd.,
of Amherstburg,
Ont., through
the purchase of all of the capital stock of both these
companies from
Brewers & Distillers of Vancouver, Ltd.
Brewers & Distillers of Vancouver, Ltd.* disposed of its sharehold¬
•
ings in both companies in exchange for 12,500 shares of 5% cumulative
preferred and 20,000 common shares of Distillers Corp.-Seagrams, Ltd.—
V.
154,
748.
p.
Leo
N.
Commonwealth Edison Co.—Weekly OutputLast
wqek's electricity output of the Commonwealth Edison group of
excluding sales to other electric utilities, showed a 6.1%
increase over the corresponding period of
1940.
Following are the
kilowatt hour output
totals of the past four weeks and percentage
comparisons with last year
Kilowatt Hour Output
companies,
Week Ended—
1941
1940
Denver & Rio Grande Western RR.October—
Net
from
6.1
Net
ry.
Nov.
29
22
150,186,000
152,012,000
138,017,000
8.8
Nov.
15
160,361,000
147,933,000
8.4
8
161,307,000
143,260,000
12.6
Nov.
—V.
161,255,000
—
The
of
this
Net
Southern
&
from
Corp.—Weekly Output—
weekly kilowatt hour output of electric energy of subsidiaries
corporation adjusted to show general business conditions of
1942, at 4%
be
to
Gross
from
ry.
—V.
and
B
C
each
of
entitled
is
receive
to
national
currency in Bonos
of the Series D and
40
No.
No. 40 of Chade shares of
de
a
to
receive
Argentine national currency of the
pesos
The
Bonos
de
Caja
Argentine
pesos
issued
national
200
than
who
own
the Series A,
Net
of
Surplus
the
right
value of 200
receive 200 Argentine pesos.
the total value of which is less
of
tion
the
dividend,
not
make
in
list
the
delivery of the Bonos de Caja.—V. 151,
directors
The
the
similar
A
Nov.
on
28
stock,
common
declared
payable
distribution
26
dividends
(no
154,
p.
An
directors
stock,
1140.
mon
stock,
cash
distribution
Oct.
1
payable Dec.
100%
a
27
154,
of
1939.—V.
holders
this
on
stock dividend
Vultee Aircraft,
$1,586,245
$1,540,270
3,466,833
1,762,438
3,977,196
Dr45,063
518,890
6,267
$4,887,006
$4,867,574
900,000
1,050,000
900,000
1,050,000
of
$2 per share
record
issue
on
Dec.
Sept.
on
26.
30,
the
A
com¬
$1,698,732
$1.13
$1.30
$1.24
50
cents
22
share
per
share
have
holders
to
and
been
the
154, p.
production
of
the
plants
of
its
kwh.,
1940,
an
fractions
No
for the week ending Nov. 30, 1941, amounting to 158,600,000
compared with 158,200,000 kwh. for the corresponding week of
0.3% .—V.
154,
of
record
Dec.
15.
Registrar
as
co-transfer
V.
154,
and Transfer
of
agent
the
of
Co.
stock
has authorized
stock
and
its
listing of
notice
of
Consolidated Mining
&
The
directors
have
declared
an
extra
dividend of
75
cents
share
per
then
and the regular semi-annual dividend of 50 cents per share on the
capital stock, par $5, both payable Dec. 31 to holders of record Dec.
An
and
of
Dec.
on
each
$1
distribution
extra
31.
1940;
Dec,
on
of
of
one
30,
like
1939,
amount
50
cents
was
July
on
and Dec. 31,
made
15,
1938.—V.
board
the
market
of
directors
called
for
business
154, p. 242.
cates
as
required
be
may
stock
Gross
$4,288,459
revenue
Operating
expenses
for taxes:
Provision
1,676,278
___
Federal
income
Federal
excess
for
Prov.
will
1941—12 Mos.—1940
to
$3,854,437 $49,762,660 $44,498,918
1,548,871
18,826,848
17,658,432
315,750
259,686
288,991
profits
and
434,562
234,733
3,257,005
receive
to
the
to
to
are
entitle
not
receive
3,033,104
for
issued
be
of
430,000
6,082,079
pursuant
to
their
with
October,
duction
5,080,000
the
is
not
at
company
for
the
the
the
at
pro
rata
but
without
the
of
the
such
other
&
$1,211,667
deduct.
376,771
income
Net
$834,895
$796,667
stk.
285,389
285.389
3,424.816
Amort, of pref. stk. exp.
65,278
65,278
783.339
Dividends
pref.
on
Balance
—V.
154,
$484,228
$446,000
3,424 819
*
$5,383,583
pany
783,339
National
Defense
40%
Defense
25%
the
30,
the
of
1942
Central
Petroleum
Sales
Cost
have declared a dividend of 20 cents per share on
stock, payable Dec. 22 to holders of record Dec. 12.
This
compares with 10 cents per share paid on Dec. 31, last year, and a
like amount on Dec. 28, 1937.—V. 152, p. 116.
The
the
directors
less
of
Selling
common
returns,
sales
Admin,
dividend
stock,
of
75
cents
payable Dec.
distribution
of
1940;
close
per
15
per
to
share has been declared on the com¬
holders of record Dec. 10.
An initial
share
was
made
on
this issue
on
Dec.
Net
Other
is
subsidiary
a
of
Freeport
Sulphur
Co.—V.
misc.
the
sales
the
of
with
operating
of
Nov.
Other
151,
.
21,
1941,
—Calendar Years-
V
total
of
have
been
ment
will
called
154,
Decca
p.
for
of
in
share,
on
12.
first
mortgage
bonds,
3 %
series
Normal
due
payment Jan. 1, 1942, at 107 and interest.
the Irving Trust Co., trustee, 1 Wall St.,
at
inc.
1970,
241,123
195,568
323,505
253,271
90,900
92,063
75,782
$2,351,967
$1,202,233
5,640
$1,218,196
\
'
76,637
99,272
$2,280,971
423,466
Pay¬
Excess
& defense
N.
profits
Records, Inc.—Extra Dividend of 20-Cents—
extra
;
450,000
143,000
331,387
96,467
Dis-
defense
facilities
1,138,151
——
in
the amount
375,000
$1,032,504
350,532
V
140,213
to surplus,
______
%
24,128
18.5
Corp.
76,360
67,886
8,474
12.5
Light
Co
90,304
11,620
12.9
both
for
to
periods.—V.
half
to
year
the
154,
any companies
1262.
p.
Dec.
31,
record
1941,
has
Dec.
3Vh%
of
been
10,
the
on
declared
7%
payable
1941.
fourth
quarter of 1941 or three cents per share
ordinary shares of the corporation, also pay¬
the
on
holders
offered
of
name
of
record
by
have
&
L.
&
Dec.
10,
on
&
1941.—V.
the
Co.
were
in V.
152,
p.
3651.
.
154,
uncorrectly
given
1262.
p.
Corp.—Accumulated Divs.—
of
account
on
the
on
cents
Lyons
Co., Inc.,"
Light
declared
share
per
35
W.
"Edison
Power
$6
accumulations
dividend
a
cumulative
preferred stock and a
preferred stock, both payable
Like amounts were paid on
April 1,
first
$7
1, last, and on Dec. 31, 1940. The previous payments
January, 1933.—V. 154, p. 957, 587.
in
of
payable
$2.25
Dec.
per
22
share
has
holders
to
of
Dividend—
been
declared
record
Dec.
the
on
In
6.
capital
each
of
the
1940.—V.
year
154,
1190.
p.
American, British & Continental Corp. above.—V. 154, p. 1191.
Offered—Hemphill, Noyes & Co., and
close
44,340 shares of new com¬
stock, "when issued," at a fixed price of 6% net.
mon
Dealer's Discount 40 cents.
The
stock
preferred,
represents
3,800
common,
shares
certificates
of. old
purchased
from
for
6,800
shares
of
Erie
old
first
second preferred and 211,100 shares of
Chesapeake & Ohio Ry. in competitive
bidding Dec. 2, all classes of stock receiving the
the road's reorganization plan.
.
treatment under
same
Reorganization Procedure—
At
hearing
a
ganization
order,
Erie
before
managers
file
to
a
Special Master West at Cleveland the
given permission, subject to Federal
The
company
reor¬
were
petition
securities.
present
with
special
as
the
the
ICC
master
new
for
also
company
authority to
approved
in
the
issue
court
the
continuance
new
of
the
reorganization.
The petition
of the rood to reject the lease with New York & Green¬
wood Lake RR., also on the agenda at the
hearing, was advanced to a
future hearing Dec. 12.
$14,000,000 Loan From RFC Plannedcompany applied Nov. 26 to the Interstate Commerce Commission
approval of a $14,000,000 12-year loan from the Reconstruction
for
Finance
Corporation to
approved
The specific
by
the
enable
it
to
Commission
purpose
carry
and
the
out
its
plan
of
reorganiza¬
courts.
of the loan is to pay the principal
and
accrued
interest
gage
of the following obligations: New York & Erie
second mort¬
5s, $2,184,520; New York & Erie third mortgage 4'/2S, $4 712 359*
Credit
Corporation 4% note, $628,123; bank loans at 3%%'
of reorganization, $1,000,000;
reimbursement of
for New Jersey tax payments and payments of allow¬
ances, $3,679,211.—V. 154, p. 1263.
$1,795,783;
expenses
______
tlncludes amortization
of $19,208.—V.
154,
p.
Fairchild Aviation Corp.—To Pay 75-Cent Dividend
1262.
President, has announced the acquisition of the
distillery businesses operated by the British Columbia Distillery, Ltd.,
Bronfman,
101,924
working capital
$682,043
Distillers Corp.-Seagrams, Ltd.—Buys Two Distilleries
Samuel
'
Amount
debentures
The directors
-
1940
130,612
the
dividend
Railroad
$1,004,543
—__—
"Excluding obsolescence charged
of
dividend of 20 cents
per
addition to the regular quarterly dividend of 15 cents per
the capital stock, both payable Dec. 26 to holders of record
An extra of 10 cents per share was paid in addition to the
usual quarterly dividend of 15 cents on July 30 and Oct. 31, last.
1940
tax
profit
Dividends paid
an
tax for
293,880
Y.
Net
28 declared
f350,459
—
Corp, and
corresponding
Merrill Lynch, Pierce, Fenner &
Beane, after the
$1,118,923
v,;
Light
the
of the market Dec. 2 offered
15,962
$2,357,608
Surtaxes
1147.
directors on Nov.
share,
Deo,
$173,000
be made
City.—V.
The
1939
262,709
365,901
&
with
154,740
Erie RR.—Stock
$10,051,969
11,239,431
7,821,280
*
1941
of
of
made
See
tion
Dayton Power & Light Co.—Bonds Called—
A
1940
275,713
$2,921,007
Power
compared
as
(The) Equity Corp.—Assumed Bonds Called—
$14,974,209
324,831
deductions
profit
"Depreciation
Co.,
follows:
as
income
31
during the
old
,.
Net
System inputs of client
Inc., which are subsidiaries
three preceding quarters, distributions of 75 cents
per share were made.
The above dividends
were
also paid on
or
about the same dates
the
$3,286,909
___
the
Electric
holders
cents
stock,
27,
income
1941,
Services,
Co.,
Elgin National Watch Co.—$2.25
A
,
,
27,
Ebasco
the
$3,275,499
■
11,409
profit
income
the
on
Co.__
&
directors
30
were
the
sales
366,696
exp
Nov.
Jan, 2 to holders of record Dec. 6.
the
367,421
vacation
made
was
on July 1, last.
1940 amounted to $1
during
July 1 and Oct.
agent will be
paid by the
certificates
voting rights or
218,079
___
stock
debenture
units
dividend
so
266,946
employees'
Total
corporation
3232.
p.
cents
&
accruals
of 50 cents
one
Light
&
for
Electric
of
392,870
&
Factory
since.
none
This
50
12,621,572
—
expenses
of
account
on
Light
were
declared
the
The
of
company
.
disc.__ $17,233,290
general expenses___
Taxes—State, County, Local, Social
Cuban-American Manganese Corp.—75-Cent Dividend
A
&
expenses
Shipping
Security
mon
allow.
pre¬
Inc.—$1 Accumulated Div.—
cumulative
Dec.
Stock
as
Earnings for Stated Periods
Corp.—Larger Dividend—
The
1748.
p.
Ecuadorian Corp., Ltd.—Interest And Dividend
to
been
under
or indirectly
During the month
represented pro¬
9 Mos. End.
1940.
152,
Edson & Co., Inc., Louisville, Ky.—Correction—
believes that it will occupy an important position in the National
■
10,
1936.—V.
dividend
a
preferred
Light
& Light
Power
dividend
A
directly
Sept. 30, '41
Crown
Power
31
sales
on
Dec.
on
10,
scrip certifi¬
connected
Program.
cents
Inc.—Weekly Input—
&
&
appearing in
able
scrip
of
of
50
The above figures do not include the
system inputs of
not
has
determine)
of
any
were
the
Co.—$1 Year-End Div.—
1003.
of
Power
Power
Interest
Exchange,
at
sum
The
exercise
of
Defense Program.
$6,745,432
"272,617
1, last, and
the
ended
Power
National
th6
of
the
Program and
956.
p.
week
perpetual
had a back log of approximately $8,000,000 of unfilled
relating thereto.
Company is not able to predict the extent to which its business
may be affected by
further developments in the National Defense
Program and by governmental regulations relating thereto, including
establishment of priorities in materials and products, but the com¬
$9,591,739 $10,953,591
"58,190
"77,033
preferred
$1.50
on
154, p.
during 1940
Dec.
orders
$1,181,319 $14,135,423 $15,730,226
384,652
4,543,684
4,776,635
140,624
"6,523
of $1 per share to clear up
stock, payable Dec. 22 to holders
quarterly dividend of 50 cents per siiare
this issue, payable Jan. 2 to holders of record
Oct.
on
companies
American
company
income
Gross
Interest
243,877
full
manner
resolution
bearers
interest.
to
in
stock
office
share
thereof
approximately
National
"29,718
914,852
Payment—
scrip
for
June
on
outstanding
thereafter
thereof
by
may
of common
certificates
and
holders
listed
arrived
share
per
then
Program. Approximately
first 10 months of 1941
1941,
11,411
1,088,717
the
the
frac¬
terms
before
or
on
Program—Approximately 10%
1940 were directly or indirectly
during
"9,836
1,237,032
and
the
Services
the
Electric
by
similar
with
Defense
for
"18,118
Increase
dividends.
Defense
connected
1942
their
the
company
3,794,335
561.040
combined
company
stock
scrip
agent,
National
deprec.
amortization
the
the
of
the
surrender
upon
National
2,997,155
3.666,970
of
value
30,
company
General
when
number of shares
all
June
on
company
1941—Month—1940
the
by
"6,771
declared
on
of
payments
American
Dec. 29, to holders of
of the total aggregate number of
common
share,
common
fair
multiplied by
July 15, last,
1940, and extras
on
Co.—Earnings—
Period End. Oct. 31—
such
the
entitled
Consumers Power
if
$84,582
36,463
Operating Subsidiaries of—
excess
(or
1938
$137,383
18,869
A regular
On
chase
1939
$129,687
10,148
16,813
issued in respect of any fractional
of full shares called for by the surrendered certifi¬
July 1, 1942, or as soon thereafter as practicable, the
company will pay
to Chemical Bank & Trust Co.
(its scrip agent)
a
sum
in cash equal to the closing bid price per share on the New
York Stock Exchange on the business day next preceding the pur¬
Smelting Co. of Canada, Ltd.
compares
$151,491
1941;
on
declared
Ebasco
scrip certificates will be
in
cates.
common
This
July 1 and Oct.
-Earnings-
1940
30 cents on Sept.
12.
share.—V.
For
issuance
payable
treasury
surrendered
stock
1,
796.
have
distribution
(The)
of
a
be
may
common
new
shares
—Extra Dividend of 75 Cents—
3.
of
of
5.
-Thousands of Kilowatt-Hours
the
official
on
dividend
in
shares
fiftieths
the
on
Dec.
April
on
12.
A
Co.—Listing, etc.—
Exchange
in payment of the stock dividend, but in lieu thereof
scrip certificates will be issued. Scrip certificates in denomina¬
shares
Jersey City has been appointed
stock, effective Jan. 1, 1942.—
common
also
Dec.
operating
23,
of
certificates,
451.
p.
directors
record Dec.
Regular
Dec.
on
tional
Consolidated Laundries Corp.—Co-transfer Agent—
The
of
made since and
company
1262.
p.
declared
record
16,666
10,
was
accumulations
per
tions
of
increase
been
of
Eastern Steamship Lines,
dividend.
of
has
this issue
on
1,382,202
284,789
154, p.
March
on
week
common
held
now
the
of
$75,
3234.
1—
payment
The
common
"Surplus from operations" will be charged with $20 per share,
representing the fair market value per share of common- stock and
the
capital account and capital surplus account each credited with
$10 per share.
Inc.—Output—
electric
cents
vious
of
19, in the amount of 6%
stock
common
payment
1146.
to
p.
quarterly
the
on
of
common
stock outstanding
(exclusive of shares held in
treasury), making the total number of shares of common stock applied
for, 300,000 shares.
In addition to the 16,813 additional shares of
common
stock, company intends to use such of the shares of its
on
holders
paid
from
Total
regular
declared
which compare with 40 cents paid
common
$30
151,
year-end dividend of $1 per share has been declared on the com¬
stock, payable Dec. 10 to holders of record Nov. 25. This com¬
pares with 50 cents per share paid on June 10 and Sept. 10, last; 25
was
shares
similar
last, while
share
to
Eastern Malleable Iron
all
$2,917,574
Dec.
a
as
from
service.—V.
A
1.200,000
$2,937,006
per
thereof
stock
common
Christmas bonuses
ranging
military
1941
preferred stock
of
plant,
in
per
22
railway
Net from railway—..
Net ry. oper. income—
2,625,000
$3,688,751
Stock
the
on
pay
mon
$1.18
York
would
$5,523,732
450,000
shares
record Dec.
paid.
was
Inc.—V.
announced
company
$1,465,236
154, p. 1190.
New
Hopedale
from
National
The
Consolidated Edison Co. of New York,
The
system
187,330
787,500
last,
it
Duluth Winnipeg & Pacific Ry.
770,339
179,315
_
of
made
were
that
$2,497,938
797,169
173,891
Doehler Die Casting
Vultee Acquires Large Interest—
See
$2,613,408
974,281
$2,562,729
1,210,462
—
payable
both
$1.75
Dec.
cents per share
"Deficit—V.
$1,499,484
3,434,173
cents
25
of
payable
75
Gross
1938
748.
including Dec. 21,
1190.
p.
dividend of
a
to
made
was
1939
quarterly distributions of 25 cents per share have been
Corp.—$2 Cash Dividend—
declared
have
1940
*
Dr7,406
dividend
extra
dividend
dividend of 25 cents per share
15 to holders of record Dec. 5.
this issue on June 30, last, and
on
1940.—V.
Consolidated Aircraft
The
1941
par)
p.
its
in
railway
Net from railway
Net ry. oper. income
a
Dec.
made
was
and Dec. 2,
209,260
160,117
additional
Aug.
on
416,777
Diamond T Motor Car Co.—Extra Dividend—
Community Power & Light Co.—25-Cent Dividend—
on
2,031,279
855,774
including,
included
are
1,181,718
$2,870,063
dividends
stock
—V.
however, coupons pertaining to
of estoppels No.
103 or subse¬
quent lists as, if and when they may be published.
The shareholders may present
their coupons No. 40 to Guaranty
Trust Co, of New York and Credit Suisse—New York agency, who will
Which
shares
2,610,625
1,607,608
686,547
Co.—Earnings—
Surplus Sept. 30
Earnings per share on
700,000
shares
com.
sheets are valid for collec¬
coupon
3,058,995
$4,926,251
Preferred
Argentine pesos, may join with others in order to present a
coupons sufficient to obtain one Bonos de Caja.
new
55,641
30—
1
adjustments
Common
number ol"
Only coupons No. 40 of the
dividend
From Jan.
_■___—
on
Duke Power Co.—$1.75 Dividend—
A
148,539
88,833
eight
to
No. 40,
coupons
175,538
53,824
751,584
Balance
par
a
159,535
2,027,921
Sept.
—
share
per
13, 1940.
announced
October—
Jan.
Surplus
bonds.
same
1941, have
4,
value
1938
3,593,589
__
income
also
employees
3,000
earnings from all
sources
each and will be delivered to the
bond for each group of coupons No. 40
one
together
represent
Shareholders
par
to
862.
End.
Mos.
$1
$286,384
50,174
Fed., State & city taxes
currency
shareholders at the rate of
whicii
Oct.
on
a
1939
$333,827
income
oper.
of
1, last; $1.75 on Dec. 21, 1940, and 75 cents in each of the three pre¬
ceding quarters.—V. 152, p. 1589.
1940
Depreciation
value of 40 pesos Argentine
and the holder of each coupon
shares
RR.—Earnings—
$303,973
214,315
railway
share
per
and on Dec.
including former employees now
with
$381,446
railway
dividend
29.
distributions of $1
2, last,
company
stock,
Diamond Match
Gross
par
Caja
E
551,820
1—
154, p.
9
Oct. 4,
coupon
"560,095
917,485
The
Gross
1,
holder
from
Net
and redeemable by drawings in 19 years
1942.
Said Bonos de Caja are numbered 104,001 to
208,000 and the first coupon bears the number two.
The
912,597
1,012,614
1941
Jan.
Net
by the company,
Jan.
2,388,463,
1,579,927
railway
from
From
1941, bearing interest from Jan. 1,
annum, Spanish taxes in effect as of Sept. 28, 1940,
per
borne
from
as
3,560,844
3,460,865
Bonus To Employees
—
special
a
18,953,694
railway
Net from railway
Net ry. open income___
Sept. 29, 1941, the Board has decided to distribute to the shareholders,
as part of the dividend for the fiscal
year 1940-1941, Bonos de Caja
on
20,515,545
5,786,644
21,407,856
4,212,258
October—
company announces that by virtue of the authority granted to
Directors by the ordinary general meeting of shareholders,
held
issued
25,209,429
railway
oper. income
154, p. 1052.
Gross
The
the company,
775,447
declared
of record Nov.
Jan.
on
$2,810,554
Detroit & Toledo Shore Line
Compania Ilispano-Americana de Electricidad, S. A.
("Chade")—To Pay Dividend—
of
976,747
1938
$3,011,559
1,064,434
766,303
1—
ry.
—V.
territory served for the week ended Nov. 27,
1941, amounted to
197,211,700 as compared with 181,797,469 for the coiresponding week
in 1940, an increase of 15,414,231, or 8.48%.—V. 154, p. 1261.
the
from
Gross
75
Extra
1939
$2,893,576
have
stock, payable Dec. 19, and the regular quarterly dividend
cents per share
on the
same
issue, payable Jan. 2, both to
holders
-Earnings—
1940
$3,567,475
1,212,974
railway.™
income
Jan.
Net
Commonwealth
railway
oper.
From
154, p. 1261.
1941
from
Gross
directors
common
of
% Inc.
Nov.
Draper Corp.—Special Div.
The
the
stock,
common
compares
on
Aug.
9
have declared
payable
with 50 cents
and
Dec. 20.
Dec.
a
22
dividend
to
of
75
holders
of
cents
per
record
share
Dec.
12.
on
the
This
share paid on Aug. 8, last; 25 cents each
1940, and 20 cents each on Aug. 10 and Dec
per
21, 1939.—V. 154, p. 1263.
~ ^
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4016
Volume 154
share has been declared on the
common
stock, payable Dec. 26 to holders of record Dec, 13.
On
Nov. 29, last, an extra dividend of 15 cents per share and a regular
quarterly dividend of like amount were paid.
An extra of 10 cents
was paid on Aug. 30, last.—V. 154, p. 862.
|
dividend of
extra
The
cents per
15
directors on
Dec.
declared
3
dividend of 50 cents per
a
common
The directors
regular
the
and
cents
25
To Delist Stock—
investi¬
that as a result of recent
Company has advised stockholders
best
the
York
York
interest
stock
withdraw
to
28,
25
1941;
Dec.
on
Dividend-—
share
record Dec. 10.
15, July 15 and
Dec. 18, 1940, and 15 cents per share paid
declared
2
dividend of 33
a
on
of
cents
75
Jan. 1 and June 25,
Net
ry.
last, 20 cents on
April 13, July 13 and Oct.
on
15, 1940.
George Emlen Roosevelt of Roosevelt & Son has bden elected
of
—V.
152,
Fundamental
Investors,
Presi¬
and of Investors Fund C, Inc.
Inc.,
From
Gary Electric
See
Northern
Gas Co.—Dissolution
&
Indiana
Service
Public
Co.—V.
Federal
p.
ry.
958.
See
Northern Indiana
declared
3
with
the
139,
Pay
Inc.—To
Co.,
$1.50
payable
payment
cents
25-
15.—V.
share
per
also
30-year
£$nelting
of
made
dividend
on
It
the
declared
dividend of
2 to holders of
regular quarterly
payable Jan.
154,
$1.50
of
share
per
been
has
William
that
reported
director
The
the
of
Rath
Vom
154,
company.—V.
V.
154, p.
10
cents
share has been
per
on
the
common
Resigns—
resigned
has
Secretary
as
1263.
p.
14,
24,
A
special
the
Fraud
in
dispatch
the
to
York
"New
Detroit Dec.
from
Times"
sale
the
of
contracts
income
John
C.
the
against
each
and
was
charged
in
Federal
a
District Attorney.
Lehr,
contracts with
Income
cipal
The
of
total face
a
value of $600,000,000 were made,
fraud
the
but
said,
actual
loss
plus earnings at maturity.
12-count
indictment charges
the
and
Securities
Exchange
conspiracy to
and
statute
of Cleveland and Howard Sutherland, former Senator
Virginia*
Among others indicted were:
John
Marshall, former Assistant United States Attorney General,
who was Chairman of the Fidelity board of directors.
Arthur B.
Koontz,
former Democratic national committeeman for
Thompson
former Vice President of Fidelity.
Edgar B. Simms, West Virginia, State Auditor.—V. 148, p.
Virginia,
West
Fifth
a
$1.25
of
share
per
731.
declared
been
has
trust,
cents
two
of
per
share was paid on
the common
stock,
$1, on Nov. 22 to holders of record Nov. 15. This compares with
share paid on July 3, last, and two cents on March 12,
1940.—V. 153, p. 394.
par
the
Corp.—35-Cent
Machinery
declared a
27
Nov.
on
dividend of 35 cents per
stock, as against $1.60 paid in 1940.—V. 154, p. 863.
dividend
able
declared
2
Jan.
of
$1.75
on
the
to
share
per
account
on
of
July
has
$7 cumulative convertible preferred stock, pay¬
record Dec. 15.
A like amount was paid
holders, of
and Oct. 1, last, as compared with $8.75
April 1, last.
The previous payment on this issue was
Jan. 2, 1933.—V. 154, p. 150.
on
1
share on
$1.75 paid on
per
June
sales
—
—
1940
$5,098,844
3,470,609
—
$4,477,602
3,084,077
1,457,976
—
——
of
1941
30—
Expenses
1,271,425
-
Operating
of
profit
other
Total
income
other expenses—
income
Federal
$170,259
——:—,
income over
and
excess
net
profits tax
___
*1—
;_u_—U-.--.i-..--
profit
Balance
Assets—Cash,
$111,702;
Sheet June 30,
accounts
51,578
$234,504
63,340
$173,677
31,942
$171,164
$141,735
41,787
40,119
1941
all portions of the so-called investment
few provisions applying specifically to closed-
except
a
General Realty
receivable,
Utilities Corp.
&
To Sell Lefcourt
—
$25,710;
inventories,
assets (net),
25
75
Safety Razor Co.—30-Cent Dividend—
The
for
corporation
sale
the
the
Messrs.
by
Harris
Newmark,
&
Inc.,
of
P.
a
dividend of 30
cents per
share on the
and June 29,
1940.
M.
of
of
consummation
the
of
of
expenditure
portion
a
of
submit
written
a
the
shares
such
offer of
dividend of $1.50
26, 1941.
share
per
payable
Feb.
to
of
acceptance
accepted
10.—V.
will
be delivered
1191.
must
154,
p.
"
mailed
be
1942,
2,
of record Dec.
Harvester
Gleaner
Years Ended
on
later
not
before
or
than
o'clock
12
23
Dec.
and
noon
on
Corp.—Earnings—
1940
$654,189
1,424,675
444,582
499.850
$649,066
$209,607
$286,707
324,762
282,516
297,763
$324,304
$$72,909
$$11,056
profit on sales
credit and collection and
administrative expenses-
tSelling,
&
gen.
Net
profit
Interest
Net
from
operations—
other
and
income
profit before
Interest
Prov.
Fed.
and
State
$786,557
•
155,113
income
153,307
177,988
$479,416
taxes—
$80,398
1,351
$166,932
3,429
expense
for
1939
1941
$2,073,741
Sept. 30—
Net; sales
"Cosit of sales
Net
inc.
123,000
13,500
56,000
$356,416
345,000
$65,547
45,000
$107,503
90,000
$0.22
$0.36
taxes
profit
Common
dividends
Earnings
share
per
shares
this
sale
contingent
is
the
upon
General
Realty &
Utilities Corp. as an incident to its entering
required
agreement
that
offer
an
be
made
to
all
other
$1.19
provision for depreciation of $19,847
1940 and
$31,070 in 1939.
"(Includes provision
$4,028 in 1941, $3,387 in 1940 and $4,003 in 1939.
Balance
Sheet
Sept.
in
for
1941, $22,932
depreciation
1941
30,
in
of
$Loss.
V
;v'
Assets—Cash, $1,406,303;
receivables
(net), $493,315; inventories,
$409,626; Deferred receivables, $36,752; prepaid expenses, $5,725; prop¬
erty, plant and equipment (net), $378,033; patents and goodwill, $1;
total
$2,729,755.
Liabilities—Accounts
payable, $38,374;
Federal and State income
taxes, $122,122; State, local and miscellaneous Federal taxes, $11,481;
salaries, wages and commissions accrued, $8,445; common stock ($2.50
par),
capital
$750,000;
earned
surplus, $859,641;
154, p. 431.
surplus,
$939,690;
Glidden Co.—50-Cent Common Dividend—
An
cents
V.
dividend
interim
paid
was
Dec.
on
154,
of 50 cents per share has been declared on tho
payable Dec. 23 to holders of record Dec. 9.
A like
on July 1 and Oct. 1, last, as compared with 40
28, 1940, and 30 cents on July 1 and Oct. 1, 1940.—
stock,
amount
election
Thompson and Harry Sands.
Alexander L.
Moss,
Robert E.
300,000
on
stock
common
■'Includes
1148.
p.
Gorham Mfg. Co.—Year-End Dividend of 15 Cents—
coming annual meeting of the stockholders of
of the seven individuals designated by the
the
at
purchasers of these stockholdings. The individuals designated are as
follows: David Harris, Harland B. Tibbets, Ottocaro Weiss, James S.
this
retirement
care of pid Colony Trust Co., transfer depart¬
Boston, Mass., so as to be received not later than
16.
Tendered stock accepted will be entitled to the
Dec.
on
Notices
A
Realty Corp.,
Lefcourt
Hays,
authorize
to
the
company,
quarterly
common
stockholdings
directors,
as
voted
for
Milk St.,
holders
to
991 Sixth
General Realty in the Lefcourt Realty Corp.
consist of 12,930 shs. of pref. stock and 168,800 shs. of common stock
and are being sold at the rate of $10 per share for the pref. stock
and $1.90 per share for the common stock.
the
$1,500,000
stock should
said
Gillette
regular
Dec. 4 announced its signing of an agreement
stockholdings in Lefcourt Realty Corp. to
a
on
its
of
formed
Ave., N. Y. City.
syndicate
The
27
Nov.
on
than
total, $2,729,755.—V.
Holdings—
year-end dividend of $1 per share has been declared on the com¬
stock, no par value, payable Dec. 15 to holders of record Dec. 1.
mon
and June
Oct.
on
16, 1941; $1 each on Nov. 15 and Dec. 15, 1940, and 50 cents
15,
and June
each
V.
154.
Sept.
on
March
15,
15,
15,
June
1941;
15,
50
Sept.
cents
16
on March 15
1940, and 50 cents
each
and
Oct.
15,
1940.—
864.
p.
and common stockholders of Lefcourt Realty Corp. at the
respective prices, namely $10 per share of pref. stock and $1.90
$1
1941;
16, 1941; $1 each on Nov. 15 and Dec. 15,
Jan.
on
preferred
same
of common
share
per
stock.—V.
154,
p.
Graham-Paige Motors Corp.—Listing—
150.
The
M.
4, p. 1325.
President of the
Jannan,
corporation,
has
released figures
Federal income and excess profits taxes amounted to
last fiscal year, after which the net earnings were
equivalent to $1.63 a share on the capital stock, against $1.14 a share
in the previous fiscal year.
fiscal
year.
$509,700
the
in
the last fiscal year were 36%
Further increases are expected
from the Government.
said, at a rate 24%
higher than the same period a year ago, with unfilled orders about
64% higher than a year ago.—V. 154, p. 150.
to
Mr.
in
the
than
sales in
preceding year.
Jarman
in the current year partly as the result'of orders
Orders for Spring are coming in, Mr. Jarman
Stock
shares
common
$75,500
of
first
mortgage
5%
40-year
fund
gold bonds due July 1, 1952, have been called for redemption as of
Jan. 1,
1942, at 105 and interest.
Payment will be made at the
Central Hanover Bank & Trust Co., trustee, 70 Broadway, N. Y. C'ity.
On
Nov.
17, 1941, a total of $26,500 of first mortgage 5% bonds
for redemption had not been surrendered to the
payment.—V. 150, p. 3360.
drawn
previously
for
corporation:
mortgage 6% jinking fund bonds
$185,000
Five-year promissory note, dated Jan. 11, 1940
—
221,549
Five-year promissory note, dated Jan. 16, 1940
-——
300,000
Five-year promissory note, dated July 3, 1940
—10.000
Five-year promissory note, dated Nov. 20, 1940.——
4,096
Accrued interest on above bonds and notes to Dec. 31, 1941—
84,585
Pursuant to
and
the
tion
an
agreement dated Jan. 15, 1940, between J. B. Graham
corporation, Mr. Graham agreed that he would at any
Prov.
expenses
income
excess
Gross
Interest
—
taxes—general
for
Federal
for
——
profits
deprec.—
Graham owned, aggregating $185,000, in ex¬
shares of the corporation on the basis of one
for each $1 of indebtedness represented by
the bonds and the interest thereon, provided that such shares nhould
be duly listed on the New York Stock Exchange.
Each of the notes
provides that
upon
proper
provision being made therefor, by the
stockholders of the corporation and the listing of such stock1 as shall
be required in
connection therewith upon the New York Stock Ex¬
change prior to the maturity of the note, the same shall be exchanged
which
for
1941—12 Mos.—1940
$2,956,687 $37,365,455 $33,298,197
1;373,457
17,115,531
14,910,596
260,342
3,264,690
3,034,116
186,415
168,598
2,371,697
335,000
1,203,055
290~66O
3,930.000
deduc.
shares
the
income
on
pref.
stk.
154, p. 958.
of
one
share
of
common
stock
for
interest evidenced by the note.
shares are to be sold publicly by the corpora¬
will be issued to J. B. Graham, the holder
6% sinking fund bonds (which bonds, however,
are
presently hypothecated with Reconstruction Finance Corporation
as additional
security for certain indebtedness owing by the corpora¬
tion to RFC), aggregating $185,000 principal amount, and the holder
mortgage
several
the
five-year
promissory
notes,
aggregating
$535,646.
Consolidated Income Account for Nine Months Ended Sept. 30, 1941
$864,290 $10,527,738 $10,710,430
315,653
544,860
5,154,239
6.576,311
$319,430
$5,373,498
245,862
2,721,778
2,950,350
$196,129
$73,567
$2,651,720
sales, less returns and allowances——
'
$1,055,355
sales
$4,134,119
223.005
Gross
Cost of
$1,183,769
Loss
Other
Balance
—V.
805,231
basis
principal and
these shares
of
first
986,691
Administrative
Net
Dividends
the
on
of indebtedness,
of
All
the
Mr.
stock
3,440,000
$419,134
other
tion.
of
of
155,800
Cr2,030
common
common
None
1,831,299
332,412
$734,788
income
&
1941—Month—1940
$3,417,883
revenues
upon
common
for
of
each $1
Period End. Oct. 31—
time
request of the corporation deliver to the corporation for cancella¬
the outstanding first
mortgage 6 ^sinking fund bonds of the
share
Georgia Power Co.—Earnings—
Gross
of 805,231
(par $1)
First
change
sinking
stock
making the total amount applied
corporation
of
total
Exchange has authorized the listing
upon official notice of issu¬
for 4,305,231 shares,
entire amount of 805,231 shares is to be issued in exchange
for the following bonds and notes of the corporation and the accrued
interest
thereon, owned by J. B. Graham, the
President of the
ance,
The
which show that for the 1941 fiscal year ended Oct. 31,
net earnings were $1,064,154, compared with $752,317 in the previous
York
New
additional
Corp.—Registers With SEC—
earnings
on
Provision
securities, $36,647; other assets, $3,331; fixed
unexpired insurance prepaid, $2,016; licenses, taxes and ex¬
penses, $5,549; total, $1,629,892.
Liabilities—Accounts payable, $231,554; accrued expenses and taxes,
$164 554;
7%
cumulative participating preferred stock ($20 par)
$36,800; 7%
cumulative non-participating preferred stock ($100 par),
$417,600; common stock (7.481 no par shares), $6,598; capital surplus,
$51,317; earned surplus, $721,469; total, $1,629,892.—V. 151, p. 3560.
$970,900;
$473,036;
Investment
virutally
Federal
paid
all sections of the
from
1301.
p.
Operating
Final
Dividends
the SEC
$122,100
64,245
485,388
438,298
the company paid the following dividends: April
37V2 cents each; Oct. 29, 50 cents, and on Dec. 6,
100% in stock..—V. 154, p. 655.
directors
more
ment, 45
General Electric pension
Corp.,
paid tribute to the capital setup, investments, and employeremployees relationships of G. E. Employees' Securities, but said the
required that certain controls be imposed as safeguards.—V. 154,
trustee
Excess
by
imposed
investment medium for
1 was granted extensive
the Investment Company
Georgia-Carolina Power Co.—Bonds Called—
Gallaher Drug Co.—EarningsYears Ended
Cost
Dec.
law
A
Sales
on
end, non-diversified management companies.
The corporation was
given conditional or partial exemption from many of these latter
provisions.
G.
E.
Employees' Securities Corp. asked blanket exemption from
the Act, but the SEC held that this could not be granted.
The deci¬
higher
accumulations
604,990
567,572
and 15 cents each 011 March 29
1940;
shares of
of paying
custom
except that requiring the filing of annual reports.
ruling of its kind, the SEC exempted G. E. Employees'
from
statute
According
Foster Wheeler Corp.—Accumulated Dividend—
been
paid
cents on
Securities
Corp.,
affiliates, on Dec.
controls
exempted by
Act
first
Securities
W.
A
former
See "Chronicle," Dec.
Dividend—
share
en
the common stock, payable Dec. 31 to holders of record Dec. 15.
On Sept* 30, last, the company paid a special of 35 cents in addition
to the regular quarterly dividend of 35 cents on the common stock.
Total
dividends for 1941
will amount to $1.75 per share on the
directors
common
also
80
time, Electric Securities
General Shoe
Food
671,179
572,398
»-
same
three cents per
The
on
and
Co.
from
was
into
Two-Cent Dividend—
"56" Petroleum Corp.—Pays
dividend
25
Employees'
Electric
the
In
The
A
E.
Company
The
the common
on
payable Dec. 10 to holders of record Dec. 3. The last
payment on this issue was 25 cents per share made on Wfarch 28,
1941, which compares with four quarterly dividends of 50 cents per
share paid during 1940.—V. 152, p. 3496.
$25,
par
were
with
1940.
the
At
Co.—$1.25 Dividend—
Coach
Avenue
A. dividend
stock,
the
April 25. July 25 and
20, 1940; 35 cents
and Oct. 25, 1940; 65 cents on Dec. 20,
April 25, July 25 and Oct. 25, 1939.
each
July
25,
West
from
1,277,121
1,117,253
outstanding $5 dividend convertible preference shares.
Any stockholder desiring to sell to the company all or part of his
January,
sion
violation of the fraud sections
Act of 1933, violation of the mail
violate both laws.
Fidelity has its home offices in Wheeling, W. Va., and with its
affiliates, is incorporated under the laws of that State.
Two former presidents of Fidelity, named as defendants, were Carmi
A.
in
compared
cents each
25
G.
of
trust
through fraud had not been de¬
termined because the company was in receivership in West Virginia.
The income contracts sold by the company usually had a 10-year
term.
The buyer was to make monthly payments and receive prin¬
Lehr
Mr.
cents
35
as
April
on
General
2
Fidelity
84,678
2,911,982
cash and
Gross
of
last,
exemption
Investment Association, four of its
affiliates and 13 individuals returned last night and revealed today by
indictment
reestablished
28
declared,
when
Employees' Unit Exempted From Investment Act—
following;
110,067
3,103,453
stock, payable Dec. 24 to holders of record Dec. 8.
This com¬
with 15 cents per share paid on July 31, last; 10 cents on Dec.
The
1941.
25,
1939;
Act
had
Nov.
on
April, July and October, by
of 35 cents per share on Jan.
24, 1942, to holders of record Dec. 26, 1941.
A similar distribution,
previously declared, is payable on Dec. 20, 1941, to holders of record
The
Fidelity Investment Association—Wide Frauds Laid To
91,064
3,346,055
directors have declared
shares
authorizing the payment of a dividend
150.
Corporation—
189,716
4,403,495
Co.—35-Cent Dividend—
Electric
directors
dividends,
Dividends
declared on the capital
stock, no par value, payable Dec. 20 to holders of record Dec. 10.
A
like amount was paid on this issue on April 1,
1937; none since.—
of
96,937
1940,
in
pares
Corp.—$1.50 Div.—
declared
$5,
par
is
and
Oct.
dividend
|
made.
were
The
4
Nov.
A
1938
$344,757
124,550
dividend of 50 cents per share has been declared on
stock, payable Dec. 20 to holders of record Dec. 10.
July 17 and Oct. 17, last, distributions of 25 cents
July 25,
Gillette
1940,
General Aniline & Film Corp.—Director
Co.—Resumes Dividend—
Motor Truck
Federal
$384,643
the
payable Dec. 29 to holders of record Dec. 12.
A like
amount was paid on this issue on July 1, last, which compares with
$1.75 on Dec. 3o, 1940; $1.25 each on July 1, 1940, and on Dec. 30,
1939; and $1.12 V2 on July 1, 1939.—V. 154, p. 1191.
Stock,
$1
March
on
25
■
common
General American Transportation
General
19
A
was
of
Proposal To Purchase Preference Shares—
Co.—$1 Dividend—
per share has been declared on the common stock,
to holders of record Dec. 10.
A similar distribution
20, June 20 and Sept, 19, last, and on Dec. 20,
1940, as compared with 50 cents on Sept. 20, 1940, and 25 cents each
on
March 20 and June 20, 1940.—V. 154, p. 1053.
dividend
payable Dec.
March
1939
$406,344
112,998
218,259
income—
15,
During
Jan.
Federal Mining &
1940
$585,382
railway
year-end
not
outstanding
compares
on
1—
oper.
April
and
record Dec. 15.
The
which compared
of
24,
Dec.
on
cents
25
holders
to
the preferred stock,
p. 451.
share on
per
record Dec.
22
cents
of
1939.
22,
have
directors
Dec.
15
was
Dec.
on
dividend
a
40 cents
21, 1940, and regular dividends
preceding quarters.—V, 154, p. 863.
railway-
common
On
2519.
p.
the
cents
stock,
25
A
6% debenture gold bonds, series B,
due Dec. 1, 1954, have been called for redemption as of June 1, 1942,
at 100 and int.
Payment will be made at the New York Trust Co.,
trustee, New York, N. Y.
These debentures may be presented at any time to the trustee for
payment accordingly.
Retirement of this iSlue, which follows redemption on Sept. 1, 1941,
of three series of its outstanding 1st lien bonds due March 1, 1942,
leaves the company free from all funded indebtedness.—V. 154, p. 1263.
of
Investors
directors have declared
The
Bonds Called—
All
Co.—V.
Cent Div.—
common
special
a
Service
This
last;
154, p. 863.
each
American
General
previous
dividend of 50 cents per
share and the regular quarterly dividend of 25 cents per share on the
common stock,
both payable Dec. 20 to holders of record Dec. 11.
A
special dividend of $1.25 per share was paid on July 2, last, one of
50 cents on Dec. 23, 1940, and one of $1.75 on July 1, 1940, in addi¬
tion to the usual quarterly payments of 25 cents per share.
Dec.
on
Public
common?
the
on
8.
Sept. 24,
and
Dec.
Giddings & Lewis Machine Tool Co.—50-Cent Div.—-
Gary Heat, Light & Water Co.—Dissolution Planned—
Traction Co.—Special Dividend—
Light &
directors
Jan.
from
Planned—
154,
Dividend—•
record
1941
from
Net
4122,
p.
of
Dec.
on
railway
railway-.
oper. income—
Net
The
The
cents
from
Gross
—V.
from
1941.—V. 154, p. 333.
June 25
on
from
share has been declared on
per
50
Co.—50-Cent
share has been declared
holders
October—
Net
15,
conclusion that it would
the common
stock, payable Jan. 1 to holders of record Dec. 15.
This compares
with distributions of 25 cents each made on Jan. 1, April 1, June 25
and Oct. 1, last, in addition to extra payments of like amount made
dividend
paid
per
to
Georgia RR.—Earnings—
cents per
A
A
23
share paid in
per
Oct.
Co.—75-Cent Dividend—
Faultless Rubber
cents
Dec.
cents
Gross
listing on the New
Curb Exchange.
Hearing has been fixed for Dec. 12 at New
on the application
to delist.—V. 154, p. 1191.
in
with
of 50
payable
stock, payable Dec. 22 to holders of
This compares with 18 cents per share paid on April
capital
dent
gation, the officers and directors came to the
be
the
on
Refractories
dividend
stock,
cents
Dividend—
quarterly dividend
of '.3.7'/a
cents per share have been declared on the common stock,
both payable Dec. 18 to holders of record Dec. 4.
An extra of like
amount was paid on Dec. 20,
1940, and on Dec. 20, 1939.
of
dividend
extra
A
share
stock, payable Dec. 10 to holders of record Dec. 5.
This compares with 40 cents paid on July 17, last, 20 cents on Dec, 10,
1940, and 15 cents on July 16, 1940.—V. 153, p. 395.
the
on
Fundamental Investors, Inc.—Larger
Fanny Farmer Candy Shops, Inc.—Extra
An
General
Fresnillo Co.—Larger Dividend—
(The)
Falst^ff Brewing Corp.—Extra. Distribution—
An
1377
Net
from
income
loss
and general expenses.
—:
111,717
_
operations—
charges
(net)————
.
.
$43,053
11,668
$54,721
1378
THE COMMERCIAL & FINANCIAL CHRONICLE
Consolidated
Assets—
Balance Sheet,
,i' YyV:
"After
1941- ^.
Sept. 30,
■■
Cash
be used
to
various
Assets
for
specific purposes in
with
purchase
account of the United States
of
facilities
for
Navy Department
175,820
—
■
Property,
plant
Deferred
i
securities
and
and
■
the
(net)—:.
1
Total
_
_
♦
,
Advances
and
T%
miscellaneous
for
(subordinated to loans payable to RFC)
795,761
The
surplus
Appraisal surplus
1933
——
—
________
Net
from
ry.
share
per
27
to
on
Oct.
has been
holders
1,
of
A
class A
stock,
Dec.
1
Dec.
Jan,
Net
Dec.
$173,226
$149,519
47,872
39,964
of
20,588
24,657
Depreciation
1,676,371
1,441,766
1,414,686
1,275,668
524,927
393,273
405,115
257,197
183,624
176,413
140,723
made
in
at
of
case
the
First
at
A
Bank
Bank,
&
Trust
trustee,
Gulf & Ship Island
to
-
.
holders
appointed
was
v
25
,
.
of
for
ry.
oper.
From
Jan.
1940
1939
1938
$103,066
$95,815
32,580
14,818
2,593
"2,344
"9,429
"22,742
income
1—
from
Gross
railway
railway__
oper. income—
1,422,367
1,037,011
963,531
998,374
336,759
73,463
47,395
stock
for
prior
tributed
ry.
47,092
"192,450
"203,017
Chemical
Bank
&
record
Dec.
6.
of
Co.
has
of the common stock, effective
29, 1941.—V. 152, p. 3969.
agent
been
of
as
Company has
for
State
/
of
vision
$13,984
for
local
SIncludes
of
712,502
475,000
'475,000
$2.38
social
$3.19
$10,627
((Includes
taxes
(less
provision
and surtax
prior
of
years,
$497,489.
$263,154,
State
taxes
payroll
on
•:
of
$260,867,
for prior
and
years)
;
y.
Securities
concern
Act.—V.
154,
p.
and
and
Exchange
therefore
Commission
not
25
Nov.
not
to
subject to the Investment
social
State
Nov.
on
issued
18
RR.—Abandonment, Etc.—
certificate permitting (a) abandonment
of a'line of railroad extending from Harriman to
approximately 4.45 miles, and (b) acquisition and opera¬
tion of approximately 0.25 mile of
connecting track to be constructed
by the Tennessee Valley Authority.
The ICC also
approved operation, under trackage rights, by the
by
the
De
a
Armond;
company
company
part
over
and
De
Tenn.—V.
Railway Co.'s line between Harri¬
approximately 3.5 miles; all in Roane County,
Armond,
Sept.
30—
sales
of
Administrative
Balance
Total
payable
A
4,930,409
5,455,411
—_
provision
Federal
normal
Federal
excess
Foreign
accounts,
etc.
tax
prior
taxes;
years
Reflected
Prov.
in
235,650
•:
?.•
$862,029
declared
of
amount
class
on
$81.
"A'
common
'common:
stock
.
par.
230,238
(redeemed
in
50,142
dividend
was
cash)
in
the
Sheet
assets
L
1940
_
•_
Cash
Commonwealth
Accounts
of
Pennsylvania
received
(less
value
notes
allowances)^
—Y__
inventory
of
life
insurance—
Patents
$2,338,512
holders
revaluation
of
copyrights:
charges
of
record
738,067
1
267,374
17,921
1
Sept.
income
make
to
1
Dec.
Gross
244,584
4,928,540
((Accounts
properties.
Accrued
salaries,
Deferred
Reserve
income
for
Deposits on
Capital
Earned
($1
payable
Loss
U.
commissions,
on
instalment
S.r &c., taxes
&c.
profit____
v
: :
_____—
_
World's Fair bonds
inc.
and
for
to
market
fiscal
64,901
2,067,083
—____________
*
$5,626,391
$5,235,391
in
record
of
addition
the
to
987.
;
Corp.—Injunction
Removed—
that
the
injunction
"prembture
was
i
and
Telephone
Corp.—Earnings—
1941—Month—1940
1941—10 Mos.—1940
$162,718
$149,033
$1,603,728
158
145
1,562
1,421
$162,560
—
$148,888
$1,602,166
$1,458,317
$1,459,738
revenues-.
expenses
Sept.
50
directors
have
/
:v
$20,149
10,102
2,071
1,461
expenses
estate (net)
and
817
.
1,368,649. 1,383,104
82,898 ■
76,730
; ./ :467.y;
—
equipment
(net)__.z
92
payable
Period
$1,500,817
in
leases
on
,'
,
accounts
-$6,182
receivable__
8,539
1
income
tax_Y___^__-__—
-
—-
4,328
..
23,006
(contra)
$3,536
...
;./• 23,727
20,884 y;,;;: 12,097
2,071
1,461
,
stock
1,333,616
—__—_—________
by 5,306
no
par
.
______
shares.- -V.
$1,526,128
151, p. 3239.
:
$1,500,817
»
y
'
10,
were
on
This
last;
compares
50 cents
Dec.
15, 1940; and
30,
with 25
on
1940;
25 cents
on
cents
June'25,
per
1941;
share paid on this
25 cents
on
to
dividend
holders
of'30
made
April
1,
397;
p.
this
on
July
of
cents
1,
''
'
record
per
issue
Oct.
on
April
1 and
'
/
Y
y
Dec.
Dec.
5.
l,
20,
.
(& Subs.)—Earnings—
3 Months
•
Ended—
r
serial notex __(" 341^375
Depreciation of plants
;
.
<
9 Months;
r
June 30/41
^341,375
JNet income i/^/wai£i.
Interest
bonds, and
on
Sept. 3d/4i Sept. 30/41
;$l0;541,5l8 $12,666,236 $11;836;149 '$35;043,903
.
&
deplet.* of
.
minerals
1,756,313
Prov. for Fed. normal, tax
Provision
for
Federal
/
excess
and
;
.
A
quarter to provide
inventories.
further
reserve
a
3,867,496
$4,102,572
,$2.13
deducting administration
maintenance.
•5.665,019
003,803/
4,337,851
$3,469,046
share
per
1,960,239
1,925,971
5,587,384
'■Y'Y-Y/t-YYS'yy
-
3,317,175
earnings
338,888-'' 1,021,638
1,958,468
1,657,610
'
profits tax
Earnings
...
deduction
for
$3,675,724 $11,247,342
; / $2.25
,
Y $6.89
$2.51
...
expense
and
of
,
„
all
.
charges for repairs
$300,000
is
decline
in
possible
11,522,521
made
the
in
each
value
-
of
••
_
Note-f-Federal
law
in
now
income
effect.—V.
and-excess
154,
p.
profits'taxes are-based
the
on
/
1054.
International Harvester Co.—Increases
Common Divi¬
and Declares Year-End Distribution—
March
25 cents on Oct. 10, 1940; 50 cents
March 14, 1940.—V. 154, p. 1264,
dend
:
.-
The
directors
common
declared
year-end dividend of 50 cents per share has been declared on
B stock, no par value,, payable Dec. 20 to holders of record
cents on
each
15
122,052
.
class
Oct.
cents
1,333,616
131,830.
•___
Houdaille-Hershey Corp.—50-CBnt Dividend
10.
year-end
Dec.
Mar. 31/41
"After
.—_____
expenses
for Federal
"Represented
the
50
a
regular dividend of 50 cents per share-oft the
payable
Inland Steel Co.
..-/C
.
balances
Dec.
of
•
Net
Liabilities—
A
$452,775
336,717
153,
"""olg
$1,526,128
Total
Accrued
311,211
1 and Oct. 1, last, and
1940.-r-V, 154, p. 543; V.
8,413
paintings (net)
Deferred
charges
Reserve
$420,035
32,639
_
;
Prepaid
Credit
$43,863
July
1940 C
10,169
:
221,324
declared
a
both
.
(contra)i_____
878
301,476
18,533
stock,
.
(net).
1,951
25,253
$28,844
income
oper.
50
38,071
addition to
68,972
30
Investment
Accounts
$674,977
$84,419
1941
security
783,340
$723,462
154, p. 865.
Distributions
74,277*
rent
878,704
$69,166
of oper¬
common
12/097
20,883
$49,468
on
79,722
$66,965
revenues-.
lease
income
The
$97,866
$83,157
Sheet,
95,595
___
Industrial Rayon Corp*—Year-End
Dividend—
74,361:
1,350
undistrib. profits taxes
year_
receivable
235,650
2,157,794
held
Associated
revenues
oper.
Net
.
paid
deposit,
50
Total
Court
Ended Oct. 31—
for
—V.
36,800
26.520
2,320,738
___—_—
p.
$209,028
;
75,671
:___
$104,041';r>
Funds
131,737
65,222
2,157,794
bottles, coolers, &c.
surplus
surplus
share
per
152,
pending
Net
Net
304,136
32,640
...
profit
Accounts
134,586
170,232
stockholders
common
cents
and
Operating
$513,164
$212,352
______
——
Balance
$417,120
tl73,723
to
10
-
Circuit
drastic,"
Operating
1940
300,267'
—
i_
Fed.
Dividend
Surplus
42,901
sales—
_________________
Shares
ating property
Operating taxes
1941
■
for
Deposit
278.660
paid
of
cents.—V.
Uncollectible oper. rev._
Payment—
$512,618
taxes
adjust.
on
170,257
$417,120
:
12 »/2
U.
Indiana
-Earnings-
30—
expenses
operating
Total
par)
1
dividend
the
Operating
Liabilitiesstock
& Color Co., Ltd.—Extra Dividend—
Dec.
on
extra
an
Period
pay¬
first
yyy—s.
and
"Common
Common
....
"paralyzed" rather than preserved the investment
a decision on receivership
and should not have been
because the nine original plaintiffs in the suit filed
March 11,
1939, and 40 others who joined in later as
intervenors, had not proved
they were acting in a ''representative
capacity" for any other inves¬
tors. In fact, the Circuit Court
said, 11 other investors, whose claims
exceeded those of the
plaintiffs, opposed the receivership, and there
is nothing in the record
in the case to show how upwards of
13,000
other investors feel
towards a .receivership and
possible liquidation
of the Independence
company.—V. 152, p. 429.
interest payment of 2% on Dec. 10
and refunding 6y2%
mortgage
an
of
Depreciation
$5,626,391 Y $5,235,391
Accounts
865.
p.
lower
Rent
operating
387*373
154,971
__________
154,
company
20
trusts
bonds.
Years Ended
1,315,887
449,711
21,663
and
Deferred
for
reserves
for Federal income and excess profits taxes, and
based on award may by
the Emergency Board.
wages
granted
shares.
par
50,535
284,513
Other' assets
"885,822
providing
vency.
6,116,586*
.
812,135
'
Merchandise
I Yale
$2,443,404
1,409,457
.
no
Mural
1941
{8,306,442
income
'
Furniture
Sept. 30
Assets—
1,249,312
too
not
Real
'
Consolidated. Balance
"Permanent
493,944
Cash
2,579
tThere
13.661,310
t524,769
43.605
for
S.
Circuit Court of Appeals at
Philadelphia has removed
court injunction issued June 18 last
freezing the cash assets
Corporation and the operation of some 13,000 "investment
trust plans"
involving $3,245,000 pending a decision on whether hq
would appoint receivers for
Independence on the ground of insol¬
15,050
358,414
Assets—
stock,: $1
12.775,488
13,519,046
a
due, including payrolls, employees' bonuses and other accrued
expenses.—V. 151, p. 3239.
'V:--
deprec. and amort, of leasehold im¬
prove. chgd. ■ to mfg. & oth. classes of exp.243,602
shares of
21,825,488
1,351,445
available
Independence
in
$2.06
for
•On 417,120
2,600,757
1,363,641
$132,979 in 1940
able
t500,544
Consolidated net loss of subsidiary companies
1,888,410
——
regular dividend of
$15,025,463 $14,853,128
by
shares
Profit
above: YY
736,702
oper.
deductions
The
1,455,400
6,116,586
stock—Dr
value
$2.11
___
673,598
31,991
Nov.
196,571
15,769
1,445,400
subsidiary
stock—
4,986,370
appropriated
Prov.
625,680
share
12.082,391
3,433
The
216,571
16,307
stock
common
per
21,183,881
77.855
1,917
i
—
share in
$879,335
on
2,526,335
82,687
(net
Imperial Varnish
796,725
Operating
1,273
.
1,807,640
joint
income
Net
tRepresented by 28,944
1940) no par shares.
{After reserves for depreciation
of $3,465,200
in 1941 and $3,024,616 in 1940, and reserve for
revaluation of certain branch
plants and feeder farms of $93,991.
SReserve for contingencies, less $112,979 in 1941 and
33,650
;
for
income-
254,181
68,349
32,000
taxes,
payments
•Earnings
72,701
308,000
tax
profit■ x
Dividends
$1,166,028
1.217,872
roads & oth. fxd. chgs.
$1,588,840
732,162
Total
$1,343,266
taxes
income
Additional
Net
income
profits
income
State
for doubtful
8.566,677
charges-—-_
Int., rent for leased rail¬
$100,000
"Represented
ry.
873,194
137,171
1,516,839
Surplus
(18,944
93,743,402!
156,469
93,660
—.y-
of
3,283,224
from
accruals-_
fixed
$1,843,900
3,488,168
3,959,176
5,331,053
87,363
stock
$
71,876,462
229,950
Oct. 26,'40
payable
capital
$
7,604,106
21,866,940'
tax
{After
for taxes
preferred
Interest
income
Discounts,
1941—10 Mos.—1940
116,298,605
82,785,746
11,455,784
taxes of $199,040.
(less excess pro¬
267.079
Minority interest in
3,817,130
49,368
1941—Month—1940
.
Sheet
Dividends payable
§Reserves
$1,124,319
5
41,709
.
.....
10,477,608
&
The
1iAccounts
12,383,988
33,512,859
of
Total
income
79,376,866
18,206,970
10,516,269
20,145,080
17,556,878
expenses
Income
;
_
$4,941,450
401,149}
$1,293,899
—
81,160,316
27,866,436
_
$
"Deficit.—V.
Hotel Barbizon, Inc.-
expenses
Operating profit
Other
;>
3,222,237
Directors have voted
4,175,0241
general
74,792,991
19,379,043
11,489,115
100,234,933
_
_
11,191,181
Net ry.
Liabilities—
advertising and
—^
and
2,455,756
oper.
Miscell.
$15,025,463 $14,853,128
income
1940
$5,870,072
-
expenses
3.363,405
3,049,946
13,760,832
retroactive
Total
to
1941
Sales, including selling,
delivery
„■
Hotel Bancroft, Worcester, Mass.—Interest
(Charles E.) Co. (& Subs.)—Earnings-
Ended
4,004,987
1,998,279
904,271
taxes
Prepaid expenses
123, p. 3178.
Hires
Years
the Southern
of
2,827,021
1,280,827
3,587,075
of $461,623; ** * '•
Total
ICC
2,493,052
_
$9,190,813
1,245,634
undis¬
on
excess provision, of
security
income
.•
1938
$10,434,250
facility
dr.)
.
1264.
Harriman & Northeastern
The
1939
revenues
rents
taxes of $313,890 and pro¬
receivable
treasury
the
by
investment
an
was
,
income, less
:
25-Cenis-*
.
1940
oper.
revenue
Other
Inventories
Note
of
Houston
POwer.
v'//
from
Equip.
subsidiaries.
tCommon
declared
1—^
operations
provision
of $13,972
$1,062,964
business
the
$9,440,420
_
income-
Jan.'
Railway
Railway
$1.98
Oct. 25,'41
of
Co.,
^4
suchl
of
basis
712,494
excess
___
the
stock
the
on
Earnings of System
security taxes of $492,206,
Assets—
Collieries
Lighting
$11,527,958
_
Period End. Oct. 31—
subsidiary.
""Includes
Accounts
Union
of
of National
railwaysNet from railway____
Net ry; oper. Income-
474,990:
■>:
$3.19
stock
the
Gi-oss
Net
{Property, plant and equipment
Sundry assets
and
Houston
1941
oper.
Railway
taxes
"Common
Company
of
common■ stock
stock
ry.
.*:From
$233,747, payroll taxes of $302,222 and pro¬
State income taxes,
including additional provi¬
and
Class
Co.
National
will
from railway
from railway____
42,031
950,000
taxes of
Company which owns outright 16 subsidiaries connected with thef
mining and distribution of coal and manages and operates the National
Coal
of
Illinois Central RR—Earnings—
of
and
Steel
Jefferson
dissolution
337,799
465,000
a
the
stock
October-
86,724
provision for normal Federal
vision
Provision
Corp.,
the
,
.
"748,484
26,046
86,724
income
taxes
for Federal
Cash
(M. A.) Hanna Co.—Not Subject To Investment Act-
376,515
tl,033,458
86,724
(estimated)
of
$228,178,
(estimated) of $18,100.
local
Federal
transfer
with the SEC a declaration or application (File
proposed reduction, from 4lA% to 3'/4%, in the
interest rate on its $260,000 first
mortgage bonds, series A, due Jan. 1,
1964.
The company also proposes to increase the
redemption premium
on the bonds.—V.
127, p. 2955.
to
•
54,761,760
83,724
940,000
$36,167 for the preceding year, of $435,183.'.
filed
regarding
preparatory
offering to holders of its $6 preferred
it in full-share amounts ^up ^to; 9a
common
Net
Crl0,523 •
periods)
as
close
of
The directors have declared an extra dividend of 25 cents
per share '•
and the regular quarterly dividend of 40 cents
per share on the com¬
mon- stock, both payable Dec.
20 to holders of record Dec: 10.
An
extra distribution of 25 cents
per share was also made on Dec. 20,
1940.—V. 154, p. 152.
$1,031,574
taxes and
and
profits
appointed
Hampton Water Works Co.—To Reduce Bond Interest
70-4481
is
Net
$1,601,001
(no par)__
{Includes local
"251,064
Nov.
thd
stock
commoa
1302.
the
$1,600,679
Consolidated
Trust
of
(Harvey )Hubbell,;• Inc.—Extra -Dist.. Of
stock
154, p. 864.
(W. F.) Hall Printing Co.—Transfer Agent—
The
545,190
stock-
local
■(•Includes
16,465
from
"Deficit.—V.
step
a
exchanging
preferred
offer
share
per
$1,192,670
„_
common
Federal
sion
$157,045
.
common
"Includes
Payment will be
Broadway, N. Y. City,
Ala.—V. 154, p. 1301-
1941
For.
forth
•
Lighting - for one share of
Expiration date- Of exchange
be supplied by amendment.
Exchange agents are Bankers
Trust Co., New York, and First National
Bank, Houston, Tex.—V. 154,
$6
peri
,
.
Secretary
as
U,012,227
18,286
preferred stock
on
com.
165
27,105
"2,185
railway
railway
575,818
charges__
outstanding (no par)
Earnings per share on
1/ 1945,
Co..
Mobile,
$158,796
from
Net
as
Power
for
two- shards of
dis¬
cents
59,105,387: 57,307,067
§921,530
taxes
income
on
Shares
RR.—Earnings-
October—
from
for
1
maturing Jan.
shares
par)
$
Net
vision
Gross
submitted
right of
holdings,
common'
similar
with
dividend of 75 cents
20
71,890,330
_•
Miscellaneous
Divs.
notes
Chemical
National
Net
_______
Provision
,
(no
SEC -Setting
by
327,242
1—
the
1%
500,000
Terms
//yCm-'/;
Power.;-
IfOct. 25,'41 ilOct. 20,'40 KOct. 28/39 ""Oct. 29/38
$74,598,633 $62,252,959 $60,344,087 $56,921,648'
Cost of prod, sold, selling
and admin, expenses-
25,125
•
sales
find.—
$181,933
53,911
49,596
24,444,
.
from
of
Cash
is
151, p. 3890.
Vaughan Grady
147, p. 3764.
$177,983
1938
outstanding 3% secured serial notes, dated Jan. 1, 1937,
Gulf, Mobile & Northern RR., have been called for redemption as of
Jan. 1, 1942, at par and int.,
plus a premium of 2% in case of notes
maturing Jan. 1, 1943, 1% in case of notes maturing Jan. 1, 1944, arid
-
the
on
8.
p.. 1264.
extra
L.
Fiscal Years
of
Cost
on
(Geo. A.) Hormel & Co.—Earnings—
RR.—Earnings-
Divs.
Net
share
a
the
owned
1
the National
Power
& Light
Co.,- will-be
issued in exchange for the outstanding 279,716 shares of
$6 cumula¬
tive preferred stock (no par), of National Power. The
exchange offer
Dividend—
compared
as
154,
an
payable
shares.—V;
company.—V,
Gulf, Mobile & Ohio RR.—Notes Called—
All
man
cents
which
all
* '
amendment with the
Manufacturing Co.—Extra Distribution—
1939
;
income.
railway——
railway^
Net ry. oper. income—.
—V. 154, p. 864.
be
10
declared
record
last,
quarters.—V.
1940
railway
from
Net
on
Dec.
1941
Y
railway—
oper.
From
Gross
Net
of
under
Houston/
Power' Co.—Files
.
an
Gross
?y
from
Gross
Net
Net
terms
154, p. 1191.
October—
Lighting. &
Stock Exchanges—
Home Indemnity Co.—New
Secretary—
$4,865,800
Green Bay & Western
or
dividend
a
Paper* Co.—50-Cent
cents
preceding
class
the
on
On
Total —L—-—
Va
declared
directors have declared
the
on
3,500,000
8,797,376
5,161,461)
508,646
i_.
surplus since Jan. 1,
Capital
-V,
Houston
-
tax
Quarterly distributions of 37 V2 cents per share were made on this issue
on March 1, June
1, Sept. 2 and Dec, 1, last.
•
On Dec. 23,
1940; the company paid an extra dividend of 75 cents
444,400
_
__-.Y—Y——-
Deficit in earned
1941*.
p.
154,867
1,618,863
preferred stock.—.:
stock
in
50
made
was
Hobart.
516,172
interest and sundry^.—*
—/—
taxes,
contingencies____LLY—17,703
cumulative
Common
1
Dauch
of
payable
share
117,406'
——
under contracts
Liabilities to officer
Dec.
on
$827,898
;
—_
&
dividend
stock,
:
Accrued, accounts—Payrolls,
RFC —Second mortgage.
Reserve
in
ndtes,
stock;
Hinde
$4,865,800
_
•
——
Accounts payable—Trade
$2,212,282
National
tribution
Notes payable _ii__i
of
■
3,469,965
64,513
—
—_____
.
depreciation
deducting U. S. Treasury
$201,200.—V. 154, p. 152.
payable Jan.. 7 to holders of record Dec. 24.
An;initial dividend of 12V2 cents was paid on June
23, last,, which was
followed by a distribution of like amount on
Sept. 2.—V. 153, p. G93.
48,567
——
capital
A
Liabilities—
for
tAfter
claimsiY/2—1,489;.
equipment
charges
__
directors
The
74,999
311,175
657,812
—
'
Prepaid expenses •&£
Miscellaneous
1940.
Ilarvill Aircraft Die Casting Corp.—10-Cent Dividend
the
—
receivable
Accounts
allowance
in
Company has filed
■
connection
deducting
$2,058,604
series B, in the amount of
connection with
contracts
in
and
//'/
$61,462
■
'-.-Oasli r:
Saturday, December 6, 1941
issue
15,
on
on
1941;
June
stock,
a
payable Jan. 15
share
per
July
80
15
cents
share
p.
694.
have
declared
payable
Dec.
a
20
year-end
to
dividend
holders
of
to holders of record Dec.
were
made
on
and
Oct.
15,
last,
on
Oct.
23,
1940,
from
Oct.
.
.
.
15^ 1938,
,
the
common
15,
.
stock
of
record
quarterly dividend of 40 cents per share
on
$1.40
Dec.
the
the
on
8,
same
and
issue,
Distributions of 40 cents
on
Jan.
15.
April
compared with a year-end dividend
and quarterly dividends of 40 cents
as
to
and
including
Oct.
15,
15,
of
per
1940.—V. -154
,
YV.
Railway
Net
from ry.
rev.
opers.
for fxd. chgs.
Inc. avail,
income
Net
!—.
___
"Deficit.
Note—Federal
subject
not
99,802
*7,575
excess
The
directors
cents
45
record
This
15.
and
one
30,
when the
1940,
ended
have declared
directors
stock, payable Jan. 1 to holders of
cents per share paid each
Earnings for Year Ended Aug. 31,
Net
sales
Cost
Inc.—25-Cent Div.-—
of
1,
Oct.
—V.
made
was
The
1940.
Dividend
Oct.
on
dividend
previous
1,
cents on Nov.
50
was
Oct.
Dec.
on
declared
2
Dividend—
dividend
a
Loss
15 cents
of
general
President—
New
See
.
Fundamental
Investors,
above.—V. 154,
Inc.
656.
p.
October—
share
per
of class B
is
filing
an
Investments
used
not
estate
Other
name,
in
assets
Trade
and the regular quarterly
declared on the common
stock, both payable Dec. 22 to holders of record Dec. 8.
An extra
dividend
of like amount- was paid on Dec. 27, > 1940, as against an
extra of 15 cents on Dec, 28, 1939, and one of 10 cents on July 1,
1939.—V. 151, p. 3398.
~
*
' 1 ' "
___—
7,700
&
no
Kokenge
of
cents
50
the
City
agent for
of
the
York
New
common
Reserve
been
has
stock.—V.
Sundry creditors
Bank
of
with
each
$1
were
15
Dec.
Jan.
made on
and July
15
last,
15,
Operating
1941—Month
Amortization of
Net
•
Other
oper.
.
Gross
.
743,276
714,520
60,000
55,000
710,000
660,000'
125
330
2,514
on
Interest
on
$239,963
$2,443,766
8,696
$2,452,462
540,000
i 180,000
,
$186,888
45,000
45,000,
mtge. bonds
deb., bonds.
,
'
6,426,953
3,621,125 r' 2,822,555
$2,524,429;
688,500.
180.000
*
•
229,247.
19,325
19,129
Crl98
income
$160,796
$107,759
—
_
the period
520,784
—
to pref. stocks for
Dividends applic.
$982,629
520,784
—I
154,'p. 866,
—V.
15.- This
Dec.
/' $952,997-
l" ! "1
stock,
common
and Sept.
'
Balance
the
on
,See
Natural
"Chronicle,," Dec. 4, p. 1325.
-
-
.
.
will
1941
amount to
$2.25 per share as com¬
431.
v
Kearney
& Trecker Corp.,
1939
1940
*1941
October—
West Allis, Wis.
Shares Closely Held Since
Stock
Common
—
Net
the
operate
the
largest
three
-
.
ry.
1898 to Be Marketed—
.
.
•
-
.
1
$
159,471
147,219
63,544
59,803
49,953
46,061
38,374
28,780
21,563
1,853,544
1,405,612
1,317,874
1—
railway.!——
749,403
480,238
418,301
1,187,699
333,088
income—
324,127
210,103
151,682
76,206
railway.—_
from
Net
ry. oper.
♦Revised.—V.
154,
p.
Link
Belt Co.—50-Cent Extra
stock
($3
par)..
.
.
■
v;
it is estimated, produces more than
machines produced in the United States.
In
r'*
30% of air the
milling
the year ended!
Sept. 30, 1941, the company's sales totaled $33,450,374 on an output
of
approximately 3.960 milling machines.
At the present time the
companv is manufacturing at the rate of approximately 5,200 milling
machines annually, the full capacity of its plant.
Unfilled orders as
of Sept; 30 aggregated approximately $28,000,000, including $3,000,000:
of orders from the Federal Government for m'lling machines to be
used by private industry in defense projects; and since that time the i
company has received additional orders of this nature from the Federal
Government aggregating approximately $9,600,000.
Shortly after theiCorporat'on,
375*724
407,309
$2,759,258
$1,930,060
162.999
1,631,073
1,648,61%
$14,891
$1,128,185
$283,448
34,792
35,840
$177,890
157,791
$69,274
above—V.
RR.
Maine
154,
$1
of
per
.
960.
p.
the regular quarterly divi¬
declared on the common stock,
and the quarterly on Jan. 2,
share
and
share have been
on
Dec. 24,
per
payable
of
record
cents
50
Dec.
15.
paid
was
1940; one of $1 on Dec.
Dec. 20,
on
on
payable
distribution
Oct.
1,
Dividend—
10 cents per share
holders of record Dec. 12.
2, April 1 and July 1, 1940
dividend of
a
Jan.
made on
was
1941.
2
to
Jan.
,;
the intention of the
that it is
announced
is
declared
3
Dec.
stock,
common
similar
A
Corp.—10-Cent
Midland
directors
the
hereafter
semi-annually.—V.
Marlin-Rockwell Corp. (&
•
1
Period End. Sept.
♦Net
154,
directors to consider
544.
p.
per
Subs.)—Earnings—
1941—3 Mos.—1940
30—
share—
1941—9 Mos.—1940
$430,321
$1.27
$747,399
$2.20
profit
$1,983,471
$5.85
$1,720,570.
$5.09
excess
profits taxes,
dividend
of
$3
per
holders
of
record
and
depreciation, Federal income
of capital stock.
etc.
339,244 shares
tOn
$3 Dividend—
declared
have
directors
The
payable
Dec.
26
a
to
share
Dec.
with $1 per share paid on April 1, July 1 and Oct.
Dec. 28, 1940, $1.50 each on July 1 and Oct. 1, 1940,
on
per
share on April 1,
on
10.
stock,
compares
the
This
1, last,
and 50
153, p. 1279.
1940—V.
Dividend—
share has been declared on the
common
stock, payable Dec. 27 to holders of record Dec. 12.
Quar¬
terly distributions of 50 cents each were made on this issue Sept.
2 and Dec. 1, last, as compared with 25 cents each quarter from June
1, 1938, to and including June 2, 1941*
An extra of $1 per share
was also paid on Dec. 21,
1940, and one of 50 cents on Dec. 26, 1939.
The
directors also
declared the regular quarterly dividend of 50
,
cents
share on the
of record Feb. 9,
common
per
holders
stock, payable March
1,
1942,
to
1942.—V. 154, p. 908.
dividend
will
p.
30
amount
like
and
last,
of
cents
Cohn & Torrey, New York, and Crowell, Weedon &
Los Angeles, on Dec. 2 offered 150,000 shares of
common stock (par $1)
at $10 per share.
The offering
does not represent new financing in behalf of the com¬
pany-
Business—The company, which is an outgrowth of the
of the former Marmon Motor Car Co., was incor¬
Indiana, March 13, 1931.
Walter C. Marmon, who was
formerly Chairman of the Board of Marmon Motor Car Co., became
Chairman
of the
Board of the Marmon-IIerr ngton Co., Inc., and
one
amount
433.
■
■
was
per
cents per share and the regular quarterly
share have been declared on the common
paid on Oct.
of 10 cents on April 1, last.
to $1.80 per share, as against
:
/!'!!•;
•
';•/
>.
Total dividends for 1941
$1.70 in
department
in
position until his death on Aug. 29, 1940.
engaged in the manufacture, assembly and sale of
all-wheel-drive trucks, special Marmon-Herrington allwheel-drive Ford trucks, Ford conversion units, track-laying tractors,
military combat vehicles and other spec'al m'litary equipment.
In
addition, the company owns and operates an enclosed ball'stic testing
range for the proof testing
of armor plate and ammunition.
The
facilities of this range are for the military products of the company,
in that
continued
Company
is
duty
heavy
additional
capacity
is
available
facture
Dec. 27 to holders of record Dec. 15.
An extra"
1, last; one of 30 cents on June 25,
both payable
stock,
of
of 10
dividend
extra
An
Ind*—
Co.,
but
,
Indianapolis,
Inc.,
ver;
Company secures a substantial
and sale of replacement
Co.—Extra Dividend—
Locke Steel Chain
Co.,
Offered—Brown, Schessman, Owen & Co., Den¬
porated
cents per
of 50
dividend
extra
An
changed into 396,173% shares
ised
$1,522,751
extra
Marine
The
on
truck
A
each
$2,383,534
History and
1302.
,
($3 par) on the basis of 3% shares for
one share previously outstanding.
At the same time, the author¬
capital of the company was increased to 700,000 shares of common-
of
extra
Stock
93,554
income—
Jan.
from
Net
recapitalization of the company became effective on Dec. 1, at
which
time the
118.852
shares of common stock
($10- par), were
-
$142,050
Marmon-Herrington
$
170,595
railway
oper.
From
Gross
manufacturers
business.
from
Net
registration statement
of
212,624
$192,273
of 50 cents each on Dec. 26, 1938, and on
1937; and one of 25 cents on Juljj, 1, 1937.—V. 153, p. 093. >'
1938
$
229,225
railway
from
Gross
covering 198,083 shares of the corporation,
of milling machines in the
United States, was filed Dec. 2 with the SEC.
Blyth & Co., Inc., and
the
Wisconsin Co.
are
named as head of the underwriting group
and managers of a proposed public offering.
•
- • !
This will mark the first time that securities of the company, here¬
tofore, closely held by .families of the founders of the business, since
1898, will be made available for public distribution.
The shares to be
offered are owned by Mrs. Ella M. Kearney, the widow of one of the
founders of the company, and by certain famUy trusts,
and do not
represent
sales of stock owned by the active management.
They.
constitute approximately
one-half of the presently issued and out¬
standing common stock of the company.
The rest of the outstanding
common
stock is owned by Theodore Trecker, President of the com-5
pany, and members of his family, who will continue to manage and?
A
one
232,979
Lehigh & Hudson River Ry.—Earnings-
.,
With SEC For Public Offering—198,083
Dr80,498
20,398
$227,065
being
1939;
$2.50
$
Filed
830,643
Dr201,651
common
in
pared with $1.50 in 1940.—V. 152, p.
■
Gas Co.-r-Regs. With SEC—
1,123,669
13.970
——
holders
to
An
22,
cents
v
.
Kansas-Nebraska
75,975
22,853
inc
dividend
extra
♦After
year-end dividend of $1.12% per share
payable Dec. 26 to holders of record
with 37% cents paid on March 29, June 30
compares
$2,646,519
$3,941,833
$224,453
98,945
Dr5,654
of 50 cents
extra
dividends
30, last.
distribution
Total
$319,725
(dr)__
Boston &
An
$25,
par
1941—10 Mos.—1940
$976,697 $12,305,453 $10,090,020
752,244
8,363,620
7,443,501
a
The directors have declared a
Net
2Q2 a
Vice-Presidents.—
elected
1941—Month—1940
income
dend
the
Clark—$1.121/2 Year-End Div.—
Landers, Frary &
Cr744
$1,473,781
struction __1—___
been
have
$1,279,843
960,118
income
fEarnings
"
1941—11 Mos.—1940
$4,057,712 $43,614,829 $38,180,219
Mapes Consolidated Mfg. Co.—$1 Extra Dividend—
It
182,892-.
$1,503,413
-
declared
28
Nov.
on
867.
p.
Officials Promoted—
Dividend—
dividend of $3 per share on
the common stock, payable Dec. 19 to holders of record Dec. 10.
This
compares with $2.50 per share paid on July 10, last, and on Dec. 20,
1940, $1.50 per share dn July 10, 1940, $2.50 on Dec. 20, 1939, and
50 cents on July 10, 1939,-r-V. 153, p. 101.
■
15,000
15,000
Other int and deducts.
Interest charged to con-
Net
period to $2.07 per share, as compared with $1.55 for the
ended Nov. 30, 1940.
Net asset value per share was $27.15
30, against $27.50 a year previous.—V. 152, p. 3813, 3659.
directors
The
on
RR.—Earnings—
Deduct, (rtls., int., etc.)
and
4,983
92
rents
income
Total
as
Keystane Watch Case Corp.—Larger
$2,519,446
158
$240,121
$186,796
income—'—
Interest
290,285
257,982
Duff
O.
T.
revenues.-
oper.
ry.
Other
62,708
350,000
55,000
290,285
257,982
6,426,953
fiscal
Nov.
on
share
1055.
rents
fac.
Net
fiscal year
limited-
154,
1941—Month—1940
—
Joint,
4,567'
the
revenues!—
(net)—
325,000
oper.
Equipment
trustee, announces a distribution of 80 cents
regular and 50 cents special for the fiscal year ended Nov: 30, 1941,
on
Keystone Custodian Fund Series "Bl," payable Dec. 15, 1941, to
holders of record Nov. 30,
1941.
This brings total distributions for
corporation,
per
$18,588,940 $15,449,595
-
< This
;
49,548
income
and
PVH49.
Taxes
both
18,733
cents
20
the company operated 201 stores, as against
30, 1941,
expenses
$3,967,076
of
depreciation
last.—V.
1,
revenues—
See
,568,570
352,100
and May
Operating
in 1941 and $3,439,248 in 1940.
tPar value $1.
fLand contracts and mortgages receivable, less reserve
of $47,534 in 1941 and $50,748 in 1940.
§After reserve for doubtful
accounts in the amount of $30,000.—V. 154, p. 543.
69,822
investments il!
f term
2,607,362
41,800
; excess profits)
Property retirement re¬
serve
appropriations.
—
—
of
dividend
a
A
payable Dec. 20 to holders of record Dec. 5.
on Aug.
1, last, which compares with 10 cents
Maine Central
Keystone Custodian Fund, Inc.—Extra Distribution—
203,576
238,546
_,_—!——
.
paid
Period End. Oct. 31—
$6, 485,836
$6,859,018
$548,417
$597,089
revenues
Operating expenses, ex, eluding
direct taxes:..
Prov. for Fed. ipc. taxes
Qther taxes (excluding
—
Total
1941—12 Mos, —1940
-1940
declared
have
stock,
was
Benson
B.
154,
as
Electric Co.—Earnings—
Period Ended Oct. 31-
,
surplus
♦After
Kansas Gas &
etc.—_____
surplus
1940.—V. 152,
15 and July 15,
Jan.
unemployment taxes
stock—
Capital
1284.
p.
V.
595,669
363,443
738,675
300,000
140,669
350,000
55,000
——
for insurance,
stock
B
Earned
declared on the common;
holders of record Dec. 5.
to
A
tClass
share has been
cents each on
75
tClass
taxes
______
notes payable
serial
Reserve
per
income
Federal
payable
for Michigan
-
154,
Co.—50-Cent Dividend—
payable
value,
par
Distributions
compared
of
"
dividend
A
stock,
Bank
disbursing
dividend
•
Julian
•
National
Chase
1302.
for
Etc.—
certificate
a
McKesson & Robbins, Inc.—New Vice-Presidents—
A.
$3,900,000
1,057,146
791,606
1,055,699
Reserve
'
previous.—V. 154, p. 1055.
year
1
$3,503,800
—
payable
payrolls, taxes, interest, etc
Royalties
1,070,461
$4,654,915
Nov.
Net
debt
1,935,343
1,269,515
Period End. Nov. 30—
$18,588,940 $15,449,595
Accrued
!;:! Joy Manufacturing Co.—Div. Disbursing Agent—
The
15
Feb.
At
LiabilitiesAccounts
2,194,135
1,349,100
Co.—To Pay 20-Cent Dividend—
Steel
4,377
1
rights
-
Funded
2,414,359
issued
Sales
7,529,493
51,265
41,727
__
and patent
Total
.
appointed
92,206
1,854,082
177,020
7,786,455
32,981
operations
_____
goodwill
6,042,723
1,963,587
18
Operating
I An extra dividend of 25 cents per share
dividend of 25 cents per share have been
p.
246,650
59,586
197,522
♦Land, building, machinery and equipment
from officers and employees
...
Real
2,829,190
1,854,082
policies.—
Due
Irving Air Chute Co.—Extra Dividend—
1940
,
subsidiaries
in
amount
1,160,601
227,066
—
Cash surrender value life insurance
Nov.
on.
common
pn
$1,462,983
4,039,609
-
Prepaid expenses
JLand contracts receivable
281.
p.
1941
2,147,815
I
receivable
Inventories
6,241,077
McCrory Stores Corp.—November Sales—
Cash
application to the ICC for.approval of
its action in extending the termination of the deposit agreement and
for authority to continue to solicit deposits and to act in connection
with the receivership proceedings against Minneapolis & St. Louis RR.
and in connection with any reorganization of such railroad company.
Until such application is granted, the committee does not propose to
take any action, after Dec. 10, 1941, which will bind its depositors.—
committee
134,014
6,817,171
income—
directors
The
31
$2,236,124
Assets—
ICC
the
available, and accordingly, the equity in their earnings for
period has not been established.
§Accounts
236,696
866.
p.
like
1941,
for year ended Aug. 31,
Balance Sheet Aug.
date.
to
subs,
228,158
!
207,542
8,682,606
3,552,512
railway
oper.
154,
389,319
355,351
'
railway
Lukens
the current
by the committee as the fair proportion of
fixed
has been
sum
the English
report of
not yet
is
.
expenses
the
1—
1930
$661,719
permitting abandonment
by the company of a branch line of railroad extending from Allingham
to a point near Harriman, approximately 16.6 miles; and operation,
under
trackage rights, over the line of the Southern Railway Co.
between Harriman
and Oliver Springs, approximately 13.6 miles, all
in Roane County, Tenn.—V. 154, p. 1265.
•''
for
1941, to Dec. 10,
income.—
U
1939
$808,917
Louisville $ Nashville RR.—Abandonment,
outstanding.
abroad
10,
148,
ry.
The
870,855
$3.04
Note—Equity in earnings of the Canadian subsidiary for the year
ended Aug. 31, 1941, converted at the official rate of exchange (except
1944.
Any holder of a certificate of deposit may withdraw from the deposit
agreement by surrendering to the depositary his certificate of deposit
im transferable form and by paying to the depositary for account of
the committee the sum of $10.65 with respect to each $1,000 of bonds,
V.
from
—V.
425,000
paid on class A stock
railway
from
Net
$1,669,424
_.
Dec.
.The
Jan.
Net
550,000
♦On combined 290,285 shares of class A and 257,982 shares
deposit agreement dated as of Dec.
of the
termination
which
oper.
Gross
depreciation which was converted at the same rates at which fixed
assets were converted) amounted to $141,439 as compared with divi¬
dend received of $68,468 included above.
Owing to disturbed conditions
its
ry.
From
7,762
11, 1924,
as amended to May 15, 1939, between George E. Roosevelt, R. G. Page
and Philip N. Cristal, as a committee, and such holders of the first
mortgage 5% 50-year gold bonds of the company as become parties
thereto
in
the
manner
therein
provided, has been extended from
The
from
Net
$2,817,077
164,891
v.
railway.,—
Net
1,438
tax
income
stocks
elapse before
formally on
act
$847,507
1940
1941
$1,060,592
419,338
269,521
.*
from
Gross
82,080
(net)
tax
♦Earnings
Extend Deposit Agreement—
Iowa Central Ry.—To
to
ously held by the Mutual Life Insurance Co.—V. 149, p. 113.
$2,665,090
68,468
less Canadian tax thereon.-
long-term
profits
Dividend
must
held
Louisiana & Arkansas Ry.- -Earnings-
!
sub.,
debt..—,
disposal of fixed assets—
Normal
Net
days
be
1,137,038
purchases
on
Excess
30
can
J. Reynolds, as broker, has arranged a new first mortgage
$4,975,000 on the
10-story property occupied by the company
(department store), on the northwest corner of 38th Street and Fifth
Avenue, N. Y. City, running through to 39th; Street. The financing
runs for six years at 4%.
'
According to a document filed in the Register's office the mortgage
is held by the Mutual Benefit Life Insurance Co. of Newark, N. J„
and the lien supersedes four mortgages aggregating $7,100,000 previ¬
last.
15,
that
,
income
on
understood
is
of the two managements
plan.—V. 154, p. 1149.
John
was
Provision for Federal taxes on income:
per
into the Lockheed
Eord & Taylor, N. Y. City—New Mortgage—
nine
1941
profit
on
Interest
share
on the investors' shares, payable Dec. 22 to holders of record Dec. 10.
This compares with 10 cents per share paid on April 15, July 15 and
directors
changed.
resulted in
repairs
from Canadian
Discount
Total
Investors Fund C. Inc.—15-Cent
The
and
Miscellaneous income
1937.
154, p. 959.
It
meeting
a
__
selling,
sales,
Operating
15 to holders of record Dec. 18. A similar
15, last, as compared with quarterly
dividends of 15 cents made Jan. 15, April 15 and July 15, 1941, and on
distribution
Vega Airplane Co.
was
1941,
$31,651,072
and administrative expenses
27,153,516
695,427
____
Maintenance
stock, payable Jan.
common
Commissioner.
the
Kelsey-Hayes Wheel Co.—Earnings—
dividend of 25 cents per share on the
a
year
of the
merger
of
Depreciation
-The
fiscal
charges and taxes, of $5,018,101.
For the
September 30,
1940, corresponding net income
after all
I,
Interstate Department Stores,
company's
$33,450,374 for the full year ended Sept. 30,
for the
plan
Corp. was approved Nov. 27
by Lockheed's shareholders.
Vega's shareholders approved the merger Nov. 21 (see latter company).
The merger has been approved by the
California State Corporation
$2,065,354.
1938, to and including Oct. 1, 1941.
Extras of
per share were also paid on Nov. 27, 1939, and Nov. 28, 1940,
of 50 cents per share on Nov. 28, 1941.—V. 154, p. 1054.
cents
of
income,
months
with 37%
compares
Merger Approved—
A
Aircraft
quarter of
dividend for the current
a
share on the common
per
Dec.
quarter from July
25
declared
have
net
Payment—
International Shoe Co.—Larger Quarterly
Sept.
Sales
1379
aggregating over
practically all of
$2,246,874 in 1936, increased to $4,161,810 in 1937, to $4,257,426
1938, to $6,474,031 in 1939, and to $11,867,916 for the nine months
ended
at the rate of 31%.
profits tax.—V. 154, p. 907,
accrued
1941
received orders
company
were
were
in
to
the
war*
subsequently assigned to the British Government which
took delivery of the machines.
■
- ?
■
An indication of the growth of the company's business is given in
figures filed with the registration statement showing that sales, which
1,625,452
805,002
1,597,978
818,667
72,980
i
for
tax
income
believed
Company
which
...
$341,201
-
34,321
.
•:>:;!,/ '!!
V
.
:
y;.' $403,481
163,653
111,061
revenues
oper.
the
of
$13,000,000 from the French Purchasing Commission,
1941-rlO Mos.—1940
$4,666,581
$4,746,621
1,934,458
1,870,701
1941—Month—1940
Ended Oct. 31—
outbreak
Central America—Earnings—
International Rys. of
Period
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4016 ;•
Volume 154
1940.—V.
154,
"
for
volume
testing
of
armor
bus'ness
from
for
others.'
the
manu¬
parts for its products.
>
Co., the wholly-owned subs'd ary of the company,
designing,
engineering and manufacturing
precision
Merz Engineering
is
engaged
in
tools, spec<al machine tools, dies, jigs, fixtures and in precision
production machining.
In addition to its sales to outside manufac¬
turers, the subsid'ary company's facilities are ava'lable to the company
gauges,
for
the
fixtures
design
and
and
manufacture
machine
tool
of
equipment
spec'alized
which ipay
jigs,
gauges,"
requird for its
dies,
be
operations.
<
Lockheed
Aircraft Corp.—To Pay $2 Dividend—
dividend of $2 per share on the com¬
mon
stock, payable Dec. 27 to holders of record Dec. 12.
This com¬
pares, .with $1.50 paid on Dec; 23, 1940, and an additional dividend
The
of
$1
directors have declared a
paid on Dec.
23, 1939.
The products, of the company have developed from continued
in the
The
regular
consists
loaded
j
research
field of spec'alized motor vehicles using the all-wheel-drive and
.^v
duty
track-laying principles.
of
33
capacity.
Marmon-Herrington.
models
ranging
Company
from
heavv
10,200
also maintains
an
to
all-wheel-drive
line
70,000 pounds gross
engineering department
of designing special custom-built transportation equipment of
practical required capacitly.
This line includes four-wheel-drive
and six-wheel-drive
models powered with gasoline or diesel engines.
Each of these models is designed to permit a fully adequate variation
of specifications in wheel-base length and tire equipment.
Thus the
line
embraces a large number of units to provide the exact size,
weight
and type of vehicle to meet specific requirements.
Each
vhicle is available as chassis with cab or with any standard or com¬
mercial body or equipment.
From its inception the company has worked consistently with the
United States Army, Navy, Marine and Air Corps and with several
foreign governments on the development of military combat vehicles,
tractors,
and special purpose trucks.
This experience enabled the
any
11993434800
early part in the defense program, and the
company
now largely engaged in defense and other war work.
Items produced under this program include scout cars, machine
gun
trucks, ambulances,
artillery wrecking trucks, gun tractors, special
air
corps
equipment, airplane crash trucks, and various military
combat vehicles of the track-laying tractor type.
A substantial portion of the manufacturing operations of the com¬
pany in
connection with defense work is handled on a subcontract
basis;
' • ''
\
Company has extensive, proving ground facilities for Resting its
products in convenient proximity to its plant.
These proving grounds
are
under lease' and comprise varied types of terrain and roads,
including steep grades, mud and sand which stimulate desert condi¬
to
is
company
Jf-
:tf;v
tions.
" •
1936,
.
,
.
Beginning with
•
follows:,:
been as
1
.
619,924
$549,364
1,200,384
984,500
1,371,340
3937
—-
3938—,—
——
1941
Taxes
*$6,002
*$6,002
13.934
$7,474
24,325
23,625
700
,
175,796
29.690
146,106
1,137,413
1,087,136
606.878
715,000
orders amounted to
$23,712,127.
was
authorized capital stock
1941, the
31,
Aug.
follows:
as
*
preferred stock
cumulative
2.000 sh.
$50)
(par
None
150,000 sh.
600,000 sh.
(no par)
stock
Common
amendment filed with the Secretary of State of
1941, the charter was amended and now provides
authorized to issue 2,000 shares of preferred stock
(par $50), and 600,000 shares of common stock (par $1).
On Oct. 25,
1941, a common stock dividend was declared of two shares of common
stock ($1 par) for each common share then held by the stockholders.
Company's capitalization now consists of v600,000 common shares
of
articles
By
450,000 are issued and outstanding, and 2,000 shares
preferred stock (par $50), of which no shares are
($1 par), of which
6% cumulative
Underwriting—On Oct. 21. 1941, company and its three shareholders,
who
then
were
the owners of all the outstanding common shares,
underwriting agreement with Brown, Schlessman, Owen
terms of which said shareholders agreed to sell
Owen & Co., at $8 per share, the 150,000 shares
of common stock now offered.
The number of shares being sold by
the individual selling shareholders and the proceeds to be respectively
received by them are as follows:
A. W. Herrington, 90,000 shares,
$720,000:
Bert D'nslev, 30.000 shares, $240,000;
D. I. Glossbrenner,
entered into an
Si
the
under
Co.,
Schlessman,
Brown.
The
of
names
the
are
as
of
number
shares which may
common
36,500
Van Alstyne, Noel & Co.—
Crowell, Weedon & Co
Milton R. Underwood & Co.
10,000
10,000
Co.
Mahan,
working capital as well as
Searl-Merrick Co.
—-
Douglass & Co.—
Nelson,
Aug, 31,
Balance Sheet,
Canad'an
Accounts
.■Depositswith vendors
59,868
2,954,030
,——'——-—l:————
Surety deposit—on performance bond—...
———
Inventories
receivable
Accounts
50.000
5.914
———---
870,000
receivable Merz Engineering Co.—_
Property, plant and equipment, other than defense facilities
notes
Mortgage
?'>0.8't7
'
(net)
—
and equipment, defense facilities
facilities in process of construction
plant
Property,
Defense
928.853
(net) —
112,742
289,778
Deferred charges
Patents,
cost
at
Total
(net) ————————
Customers'
Distributors'
advances on ordersand customers' parts
liabilities
Accrued
Earned
surplus
Total
$1),
(par
basis,
over
.
The
stockholders
the
which was 50 cents per share,
at
a
meeting
sbec'al
the
anoroved
plan
Nov.
$380,279
$260,166
1,
„
to
Prior
held
27.
preferred
at Toronto.
The common
Under the plan, holders of
Common Dividend—
cents per share and the regular quarterly
dividend of 37'/a cents per share have been declared on the common
stoek. both pavable Dec. 24 to holders of record Dec. 8.
Regular
made
on
1941.—V.
of
25
quarterly distributions of 37% cents per share have been
this issu* *rom March 31, 1938, to and including Sept. 30,
154,
p.
658.
1941—10 Mos—1940
$2,641,341 $28,716,002 $23,098,927
1,886,302 20,745,656 17,918,610
1941—Month—1940
$3,481,349
2,493,477
for
$510,515
$322,985
$4,114,539
$1,637,326
364,944
364,233
3,661,601
3,658,238
$145,571
:'$41,249
chgs._
fxd.
Missouri Pacific RR.—Charges
.
$452,937 *$2,020,912
154, p. 1266.
•Deficit—V.
Bondholders' Commit¬
ICC Rulings—
St. Louis, Iron
Bankers Trust;
trustee of the issue, with
ICC and deliberately to mis¬
reorganization plan" in the
current balloting relating to the Missouri Pacific RR.
The company charged that the committee, of which the Chairman
is R. G. Page, Vice-President of the Bankers Trust Co., has indicated
to the holders of certificates of deposit that if they wish to vote to
reject the plan, they must withdraw their bonds and pay withdrawal
fee.
R. J. Morfa, Secretary of the Missouri Pacific RR., stated that y
the ICC has specifically ruled that holders of deposit certificates may
vote their deposited bonds in rejection of the plan without withdrawing
1 charged a protective committee for
Ry. Co. bondholders, of which
Company Dec.
Mountain
Southern
&
depositary as well as indenture
"attempting to circumvent rulings of the
lead bondholders who wish to reject the
is
protective committee.
Page's 'protective committee' in its obvious
holders to go along with it, has deliberately
improperly put difficulties in the way of a freely expressed vote
from
bonds
their
any
"Mr.
said:
Morfa
Mr.
desire to induce depositing
and
the
plan.
Pacific
Missouri
that
demanding
is
RR.
sonal
fee."
called
had
he
given no satisfactory reply.
but had been
Rejection" For Stedman Plan
Company Sees "Certain
40,000
the
for
bondholders, company Dec. 3
proposed "Stedman" plan of
states:
further
release
Bondholders
of
postcard survey •
predicted "certain rejection"
reorganization,
A company
replies received to date in a
12,651
basis of
the
On
of
,
First
refunding
and
Gen.
'75
IGN Adj., '52„
Serial S'As,
'33-'56
Convertible 5Vis, '49
last,
15,
15
and
15,
1940, 20
$2 per share
is based on communications to all knowm'
holders of one-third of the bonds voted is
sufficient to classify en issue as "opposed" in the official balloting by
the ICC which will be concluded on Feb. 17, 1942.
> ;
Mr.
sent
quarters.—V.
154,
24,
last,
on Dec.
14,
15, 1940, and 15
cents
50
cents on July
made as fol¬
1941;
$1 on
$1 on
action
taken
of
the
from
Gross
Net
Net
ry.
"
From
—V.
railway-
from
railway
oper. income
286,033
191,372
railway-
railway..
oper.
1940, 25
cents on
cents in preceding
income—
Net
ry.
From
Gross
1938
1939
$1,033,481
391,785
297,350
$967,272
275,032
169,826
8,104,807
2,036,380
1,135,099
7,647,824
1,716,799
833,234
7,517,561
1,457,183
534,706
1,304,774
from
from
rv.
Ry.—Earnings.Y
1941
income—
affirmative vote on Iron Mountain
which the trust company also is
an
of
Pacific,
Colt had been
Commission—V. 154,
copies of the letter sent to Mr.
and the Securities and Exchange
Mobile
Corp.—Seeks Bids For Purchase
Service
Gas
(EST)
16,
Dec.
on
Authorized—
Securities
Dec.
of
subsidiary
corporation,
2
Consolidated Electric & Gas Co.,
granted permission by the SEC to issue and
was
on
sell $1,400,000
mortgage bonds, due Dec. 1, 1961, and 6,000 shares of 6%
cumulative preferred stock
($100 par).
Proceeds will be used to redeem and retire $867,700 of first mort¬
first
of
In
bonds, 5% series, due October, 1956; $236,950 of first mortgage
income bonds, and to establish a construction fund.
connection
with the refunding, Consolidated Electric is to sur¬
Mobile
of the 5%
Gas $39,800
1956, and
bonds due October,
income bonds, as a capital contribution.
mortgage 9%
first
154, p. 1192.
Moore Corp., Ltd.—Extra Distribution
Of 66 V2-Cents—
cents per share and the regular quarterly,
share, in
Canadian funds, have been
stock, both payable Jan. 2 to holders of record
An extra dividend of 66%
55 %
of
on
cents
the common
4,
per
'
v
1
1, July 2 and Oct. 1, last, regular quarterly distributions of
55 %. cents per share were made on the common stock as against 50
cents previously each quarter.
In addition, an extra of 60 cents was
paid on Jan. 2, 1941—V. 152, p. 1759.
On April
Mountain City Copper
A
dividend
stock,
$122,954
29,117
7,223
8,856
1939
$89,970
6,889
26,997
♦Deficit—V. 154,
p.
1,132,367
987,342
900,357
816,538
204,513
183,509
116,741
62,743
65,066
♦2,320
,t ■. r ■i
<■:
..
"
holders
1937—V. 153, p.
of record
Dec.
9.
This compares
1^40, and 15
25
cents
in
104.
(F. E.) Myers & Bro.
A
with
dividend
>
Vi;
"■
of
$1.50
payable Dec.
an
extra
22
per
Co.—$1.50 Dividend—
share
has been
d<"ared on
to holders of record Dec.
of $1 paid on
10.
t.he
common
This compares
Oct. 27. 1941, and the last regular quar¬
terly dividend of 75 cents paid on Sept. 26, 1941.
An extra of $1 was also paid on the common stock on Oct. 25, 1940.
—V.
867.
J.
to
paid on July 23, last; 25 cents on Dec. 20,
22.
1939.
The previous payment was
Dec.
on
stock,
61,020
income
23
Co.—15-Cent Dividend—
share has been declared on the common
per
19,271
42,433 "
227,458
railway-
i5 cents
Dec.
payable
10 cents
December,
$121,754
of
1938
1—
railway
oper.
1940
$128,577
32,599
railway——
Jan.
Net
Co., in which it
Of Bonds And Preferred Stock—
with
railway
oper.
Net
Missouri Pacific had
1266.
Dec,
$1,164,508
494,136
374,534
9,012,130
2,224,639
Missouri & Arkansas
from
letter the
—
154, p. 867.
from
assure
that
said
Morfa
Mr.
p.
cents
Net
a
1—
Jan.
from
$1,024,577
—
to
Missouri
sent to the ICC
dividend
1940
of
copy
a
Colt, President of the Bankers Trust
Sloan
trustee.
declared
1941
issued
also
Morfa
to S.
pointed out that the trust company, as trustee for Missouri Pacific
general 4s, did not intend to communicate with bondholders relative
to the plan, although, it was asserted, officers of the trust company
gage
J
247.
p.
survey
was
The
were
Supply Co., Inc.—Extra Dividend—
share has been declared on the
Dec. 8.
15, last, 25 cents
cents on April 15, last, 25 cents each paid on
15
Feb.
^
285,500
637,000
136,000
648,000
Rejection, by
i
render to
July
-
Accept
4,123.000
12,001,850
3,342,600
4,007,000
20,059,000
—
Pacific's
Missouri
holders,
—V.
Oct.
40 to 1,
of the
31,878,500
5s
4s,
$41,800 of
on
reaching;
Tabulation
Secretary of the Road revealed.
results of the survey through Dec. 1 follows:
Morfa,
J.
R.
payable Dec. 15 to holders of record
This compares with 35 cents per share paid on Oct.
Jan.
to reject
have indicated their intention
issues
four
plan on the official ballot by an overwhelming majority,
in some cases a ratio of rejections to acceptances as high as
the
Midwest Piping &
stock,
attention
of the protec¬
this matter to the
of Bankers Trust Co., Secretary
Bachman,
committee,
tive
that
stated
Morfa
of Arthur W.
Proposals for the purchase of $1,400,000 1st mtge. bonds series due
and 6,000 shares of 6% cumul. pref, stock (par $100), will be
by the company, 90 Broad St., N. Y. City, before 11 A.M.
to holders of
stock distribution was
10.
cash disbursements
dividend,
stock
the
Iron Mountain
letters
received
a year-end dividend of
stock, payable Dec. 20, 1941,
1, last, a 200%
the
committee immediately publish by advertisement and per¬
directed to all depositing holders, a full retraction of
their misleading statement of Nov. 25 to holders which gives the im¬
pression, contrary to the ICC's rulings, that depositing holders cannot
vote to reject the plan without withdrawing their bonds and paying
protective
7%
Gross
dividend
common
10,
October—
,
Alkali Works—Extra
reflected
as
1961
Year-End Dividend—
announced it has terminated stabilization
offering of 4,300 shares of common stock.
being accrued and not paid,
154, p. 1266.
charges
after
bonds
$2
ry.
Co.—Price Stabilization Ended—
$2,097,916
charges
had
Common Stock—
declared a dividend of $2 per
each on July 1 and Oct. 1, 1941; $1.50 on April 1,
$5 on Dec. 24, 1940; $1.50 each' on July 1 and Oct. 1, 1940;
April 1, 1940; $3.50 on Dec. 16 ,1939; $1.25 on Oct. 2, 1939;
July 1, 1939; and 75 cents on April 1, 1939.—V. 154, p. 434.
lows:
Net
extra
quarter
in
Act of 1940.
1941. On Nov.
made to holders of record Oct.
Dec.
from
An
reported
taxes
declared
have
increased
the
Net
Mathieson
2
Dec.
on
directors
The
record
common
operations to facilitate the
—V. 154, p. 1192.
210,806
1940,
30,
directors
Gross
& Co.
Federal
estimated
for
October—
5% preferred stock will receive four new cumulative
preferred shares of $20 par value and three shares of new
stock for each preferred share presently held.—V. 154, p. 1149.
Coolidge
276,098
$1-357,549;' $1,351,290
Minneapolis & St. Louis RR.—Earnings—
present
Master Electric
"1,470,678
" 545,962
includes $149,436 additional provision from
1940, occasioned by new rates for normal and excess profits
redeemable
McDonald
297,693
"
share on the
8%
cumulative first; preferred stock, payable Jan. 1, 1942; 50 cents
per
share on the non-cumulative dividend shares, payable Dec. 23,
1941, and $1.50 per share on the common shares, payable Dec. 23,
1941, all to holders of record Dec. 13, 1941.
,
'
,
Distributions of 50 cents per share were made on the common stock
on
April 1, July 1 and Oct. 1, last, as against $4 on Dec. 23, 1940,
and 50 cents each on April 1, July 1 and Oct. 1, 1940.—V. 153, p. 696.
Ltd.—Plan Approved—
reorganization plan was approved Nov. 26 by the 5%
stockholders
57,536
Sept.
The
the split-up.—V. .154, p. 960.
Massey Harris Co.,
fixed
An extra dividend of 50 cents per
dividend of 25 cents per share on the
payable Dec. 31, to holders of record
last previous payment,
the
56,402
common
1941.
made in June prior to
257,662
4
$1.50 Year-End Dividend On
have declared a
stock
common
27,
470,678
shares,
taxes under Second Revenue
$12,384,555
On New Common—
This payment is ah initial dividend on the new common
stock, the shares having been snlit three-for-one in June of this year.
It also renresent.s an increase of 25 cents oer share, on a comparable
Dec.
taxes—
profit
287,683
v
319,873
—
The directors
new
6,246
150.000
——
Initial Dividend
.
715.000
taxes—1941—estimated—.
stock
Common
Jan.
9.442
529,055
guarantee of equipment
(150,000 shares).:
for
Reserve
income
for Federal
Provision
—
deposits.
.
——
income
profit
ended
on
$497,030
10,157,909
—
—
—
91,783
for
Res.
97,471
•
— —_
Depreciation
Federal
328,157
45,372
50,144
$2,546,445
140,694
$3,720,164
$718,208
$1,049,285
profit
deductions
Other
$12,384,555
—
payable
$2,866,278
319,832
$4,073,798
353,633
$825,511
107,303
120,020
i
—
Midvale Co.—$2
Liab'lities—
Accounts
$2,738,936
Reject
1941—9 Mos—1940
1941—3 Mos—1940
$1,169,305
profit-
10,402
——.
'31,072
$354,286
interest
include
available
Income
Fixed
2,500
192,249
$2,128,988
46,429
Midland Steel Products Co.—Earnings—
Period End. Sept. 30—
708,715
——
—
approval by State authorities, authorized capital stock
$175,000,000 from $150,000,000.—V. 154, p. 1101.
to
has been raised to
Operating
$5,881,159
—I
Y
-Y
preparatory step.
Note—Provision
deposits—
deposits (stated in U. S. dollars)
receivable (net)
—
$2,785,365
4,634
$551,441
revenues
Mr.
announced Nov. 27 that, in anticipation of 1942 capital
expansion needs, it will issue and utilize as required $25,000,000 in
new
capital stock.
The company's 1941 construction budget totaled
$28,000,000, an increase of $2,000,000 over previous estimates.
While the company cannot closely determine what its future capital
requirements will be because of the uncertainty of procuring supplies
vital
to
telephone needs, George M. Welch, President, stated, the
directors, nevertheless, voted to increase the capital structure as a
1941
hand and demand
$358,920
chgs._
expenses
a
Co.—Stock Issue—
Michigan Bell Telephone
Company
Expenses
Assets—
102,433
4,661
fxd.
not
"The
declared on the common
stock, payable Jan. 2 to holders of record Dec. 16.
This is at the
same rate as paid on Oct.
1, last, and compares with 50 cents per
share paid in preceding quarters.—V. 154, p. 908.
3,000
2,500
2,500
2,500
95,690
$556,102
Operating
Co.—75-Cent Dividend—
75 cents per share has been
dividend of
A
Manufacturing
2,500
Inc.
12,887
Missouri-Kansas-Texas Lines—Earnings—
on
Net
on
special meeting Dec. 3 approved the issuance and
shares of 4%% cumulative preferred
derived from the sale of this stock
3,000
Dittmar & Co
Chas, B. White & Co
George V. Rotan Co
—
Cash
issue of 25 cents pet
since.—V. 154, p. 1055.
Inc.—Registers With SEC—
a
Mesta Machine
Henry C. Robinson & Co.,
5,000
Burr & Co.
5.000
B. V. Christie & Co
« 5,000
W. JP. Lackey & Co.—3.500
Strauss Securities Co—*i
3,500
Cohu & Torrey————
•
funds
3,000
Inc
13,811
corporate books.—V.
Co.
stock ($100 par).
will provide addi¬
permitting the payment of the com¬
pany's existing bank loan," said George W. Merck, President.
"Increased business has necessitated expansion of operations at the
main plant
in Rahway, N. J., and construction of a new plant at
Elkton, Va."—V. 154, p. 1266.
Shares
Name—
Alexander & Co.,
Schlessman, Owen
Brown,
stock,
"Chronicle," Dec. 4, p. 1325.
"The
No. of
No. of
Shares
Name—
$2,026,555
Period End. Oct. 31—
and
Co.,
Transportation Co.—$1 Dividend
share has been declared on the common
per
Merck & Co.,
Stockholders at
follows:
■"■V
&
dividend of $1
A
Subject
underwriting group and
initially be allotted to each
the members of the
of
some
$2,689,676
charges
after
Inc.
have been called for redemption as of Jan. 1, 1942, at par
Payment will be made at the Central Hanover Bank & Trust
Broadway, N. Y. City.—V. 152, p. 2862.
•
payable Dec. 29 to holders of record Dec. 13.
The last regular quarterly dividend on this
share was paid on Sept. 30, 1939; no payments
$240,000.
shares,
30.000
$346,033
tee With Circumventing
outstanding.
issued and
130,787
$542,291
for
Operating
bonds due Jan. 1,
sinking fund 5%%
$28,000 of secured
of
total
Merchants & Miners
the company is
of
259,436
131,630
charges
♦Does
on
Inc.—Bonds Called—
17,
Indiana on Oct.
that
Payable in Stock
recently declared a dividend at the rate of one
of Southwest Gas Producing Co., Inc., for each
Mercantile Properties,
tional
Outstanding
Authorized
1
<
153,764
14,183
(net)
available
fixed
♦Fixed
share
share
of common stock of Memphis Natural Gas Co. held .payable Dec. 5
to holders of record Nov. 15.
The Committee on Security Rulings of
the New York Curb Exchange on Nov. 28 ruled' that; the Memphis
common 'stock be quoted "ex" dividend on Dec. 5.
Cash dividends of 15 cents per share were made on the common
stock on April 16, July 14 and Nov. 10, last, as against 10 cents on
Dec. 28, 1940, and 15 cents each on April 10, July 10 and Sept. 14,
1940.—V. 153, p. 695.
.Y/Y"
sale of 53,690
of
Capital'zation—As
48,070
1055.
p.
directors
See
unfilled
company's
the
1941,
20.
Oct.
of
As
$2,416,778
of common stock
372,136
4,702,547
$2,975,069
income-
oper.
Income
530,534
"Loss.
1,076,695
$408,286
(dr.)
rents
income
Other
of 50 cents per share have been paid
1, 1940, to and including Nov. 1, 1941.
Memphis Natural Gas Co.—Dividend
The
1,210,603
record
Net
1,371,340
Mos.)-
(8
154,
$4,185,672
118,229
13,336
taxes
equip, (dr.)—-
facil.
Net
Profit
4,801,567
>
—
—V.
70
Profits
21.408
dividends
the common stock from Feb.
after
of
Net ry.
extra dividend of 25 cents per
common
quarterly
Regular
on
A
Excess-
Taxes
Net Sales
$549,364
1,200.384
i 984,500
Year—
1936
3 declared an
Dec.
on
stock, payable Dec. 22 to holders of
An extra of like amount was paid on Dec. 23, 1940.
the
on
12.
Dec.
int.
Inc. and
Profit
directors
The
share
$526,515
$571,243
15,616
revenues
than Fed.
other
Joint
$3,493,473
$727,085
155,841
railway
Net
Hire
Dividend of 25 Cents—
1946,
Federal
Before
of the $25 par
ordered that the listing and registration
Melville Shoe Corp.—Extra
4,702,547
period are as follows:
profits during the same
expenses.
income
stock of the company on the Boston Stock Exchange be with¬
drawn.
The company failed to comply with the requirement to file
its annual report for the year ended Dec. 31, 1940.—V. 132, p. 3354.
4,801,567
3,770,268
932,279
(8 mos.)
Net sales and
Sales
$18,857
13,852
20,898
5,545
4,041,024
603,066
;
'
V
Other
644,815
367,581
730,882
754.997
1937——
ft
J.
Total Net
Military
$96,499
$452,864
536,711
1936
•'
;•>»v.v.. -
<•
Commercial
YYYe&r—''';
1941
4
commercial uses have
,
sales for military and
?•..
..
revenues
Taxes,
capital
an
assume
Delisted—
Central Ry.)
1941—Month—1940
1941—10 Mos—1940
$2,206,352 $1,708,708 $16,588,343 $14,636,706
1,479,268
1,182,194
12,402,671
11,143,233
Period End. Oct. 31—
Total
Total
Net
The SEC has
Wisconsin
(Excluding
Equitable Trust Co., trustee, Munsey Bldg.* Baltimore, Md., will
until 11 a.m., on Jan. 10, 1942, receive bids for the sale to it of
first open-end mortgage 25-year sinking fund 6%%
gold bonds dated
Jan. 1, 1928, up to an amount sufficient to exhaust $5,676.64, at prices
not exceeding 104 % and interest.
-,
* ,
The
Mayflower-Old Colony Copper Co.—Stock
Marie—Earnings—
Minneapolis, St. Paul & Sault Ste.
& Ice Co., Inc.—Tenders
(The) Mayaguez Light, Power
capable
Saturday, December 6, 1941
FINANCIAL CHRONICLE
THE COMMERCIAL &
1380
154, p. 545.
'4-
Volume 154
Nehi Corp.—Extra Dividend of 10
America—Earnings—
Murray Corp. of
1941 '
lfc„„1942
sales
—
J.
—*$42,671,238 $24,335,757
of products sold, Including depreciation—.
39,427,987 22,294,944
Years Ended
Net
Aug. 31—
„e„
-
-
Cost
Gross
purchases—
on
income
Miscellaneous
Total
income
Net loss on abandonments and
$2,101,761
1,048,110
967,541
46,828
34,080
expense
disposal of land,
——
—
13,751
3,309
Provision for additional taxes of prior years—
Net
profit
-—
-
Dividends
on
Shares
common
of
Earnings
stock
common
stock
$1,610,733
par)
950,615
—
■"Including $5,832,430 on cost-plus-a-fixed-fee contract.
for depreciation amounted to $641,860
Note—Provisions
to
$0.90
$1-69
share—
per
sales
—V.
Assets—
dividend
-
Goodwill———^——-—
Other
Deferred
charges
and
Dies
—.
assets
patterns
Cash—
receivable
Accounts
—
„
Inventories
Amount
—
-
—
-
—
$9,199,711
1
194,924
458,790
2,400,641
1,519,051
4,684,049
4,142,251
compares
-
1937.—V.
151,
Period End. Oct. 31—
Total
♦Net
for the
0.15%
$21,503,871 $17,618,228
Reserve
for
3569.
taxes
Accounts
Federal
—
years
-
payable i
—
53,135
415,173
5,269,585
tax
income
Accruals
...
tAdvance
Earned
prior
received
payment
surplus
surplus
Capital
than a year ago).
This is an in¬
28.57% above production of 9,437,212 kwh.
year
154, p. 1267.
Total
—
—
■"Represented by
$10
Maintenance
$21,503,871 $17,618,228
shares.
tFrom prime contractor
tlncludes notes receivable.—V. 154,
on
p.
480,000
State
and
1,173,933
949,759
1,563,047
1,247,451
Bal. bef. cap. chgs.—
$1,700,266
$1,539,566
funded debt
237,217
239,545
$2,492,390
316,680
$2,212,512
319,779
31,720
32,098
19,279
42,325
42,940
24,426
municipal
Amort, of debt discount,
and prem. (net)
interest expense.
Other
$323,000
of
first
7,222
7,798
7,222
7,778
$1,401,315
$1,240,845
$2,096,501
declared—
360,630
360,630
480,840
$1,817,587
480,840
$1,040,685
$880,215
$1,615,661
$1,336,747
divs.
and
mortgage
Resumes
Corp.
Dividends
—
Record
This
based
Plate
in
Corp.,
Gross
the
announcing
Register
Cash
National
Net
vi
were made from Jan.
an extra of
1937, to and including Oct. 15, 1941, and, in addition;
25 cents was paid on Dec. 23, 1937.—V. 154, p. 908.'
15,
has
''
share
on
1939.—V.
154, p.
an
dividend
extra
of
153.
3 declared a dividend of 75 cents per share on
stock, payable Dec. 27 to holders of record Dec. 13.
compares with 50 cents per share paid on Sept, 6, last; 25 cents
each on March 22 and June 7, last; $1 on Dec. 21, 1940, and 25 cents
in each of the three preceding quarters.—V. 154, p. 659.
no
par common
This
Oil
National
A
year-end
Co.—Year-End Dividend—
Products
dividend
of
50
cents per share
declared
has been
on
This
compares with 35 cents per share paid on June 30 and Sept. 30, last,
25 cents on March 31, last, 50 cents on Jan. 20, last, 50 cents on
Dec. 16, 1940, 35 cents on Sept. 26, 1940, and 25 cents on March 26
and on June 28, 1940.—V. 154, p. 1150.
stock, payable Dec. 17 to holders of record Dec. 10.
common
Since the
notes
made
to
beginning of 1941 company has reduced its outstanding 2 %
to $1,400,000, and arrangements have been
off
the balance of this
indebtedness
Dec.
on
preferred stocks
10-year preference stock.
the
In
had
prior
his
letter to
and
$1,816,990
in
arrears
on
the
$2
a
retirement
The directors on Nov.
account
of
previous dividend was the regular
Nov. 1, 1937.—V. 154, p. 1150.
■'
The
on
A similar pay¬
9.
on
Nov. 25,
quarterly of 13%
cents
1940.
paid
Natomas Co.—Extra Dividend Of 10-Cents—
An
extra
dividend
of
dividend
25
cents
of
10
per
cents per share
share
have
been
and the
declared
regular
on
the
quarterly
common
stock, both payable Dec. 27 to holders of record Dec. 9.
Regular
quarterly distributions of 25 cents per share were made on April 1,
July 1 and Oct. 1, last, and on Dec. 27, as against 20 cents per share
in
previous quarters.
of
last
An extra of 20 cents was also paid on Dec. 27
year.—V. 154, p. 867.
1, 1937.—V. 150, p. 1777.
to
first
1056.
current
i V
1941,. compared with
months
11
of
94,044
was
this
York Telephone's cumu¬
80,068. last year.—
New
year
instruments,
against
i-
961.
p.
ings—
corporate
Nov.
on
Water
29
&
opened proceedings
Corp., calling for steps to simplify their
to redistribute voting power among security
holders in an equitable manner.
A hearing on the matter was
were
tions
exist
.
.
..■.
■
.
■,. ,:v,;
The companies
assigned for Dec. 16.
to answer various allegations that complica¬
their corporate structures and that voting power is not
until Dec.
given
corporation
the
against
Gas
and
structures
,
Opens Proceed-
.'."-".'J.,
.
SEC
Federal
and
in
8
properly distributed by reason of dividend arrearages and other factors.
154, p. 1005.
—V.
:
;v
;
Company has repaid a bank loan of $1,000,000, cleaning up all bank
indebtedness.
two
ago.—V.
years
the
was
of the
construction
finance
about
loan
The
of one taken out to
plant, which was completed
remaining part
company's
154, p.
new
1303.
Nice Ball Bearing Co.—Tenders—
The
ties,
Pennsylvania Co. for Insurances on Lives and Granting Annui¬
Philadelphia, Pa., will until 3 P. M. Dec. 15 receive bids
5% sinking fund bonds due Jan. 1,
trustee,
sale to it of first mortgage
at prices not exceeding 100 and interest up to an
ficient to exhaust $15,000 available in the sinking fund
1945,
Norfolk & Southern
amount suf¬
.
plus the preceding three quarterly divi¬
1941 cash dividend to $1.35
1940.—V. 154, p. 1267.
Mexico Ry.—Approval Of Plan
RR.—Earnings1941
1940
1939
1938
$546,620
123,085
58,870
$442,916
127,057
66,273
$455,444
$385,584
4,648,799
1,227,190
3,784,854
695,410
670,975
175,407
October—
Gross
from
railway
from railway
ry oper. income
From
from
Gross
Net
ry.
railway
railway
from
Net
—V.
income
868.
oper.
154, p.
30,397
3,872,534
3,729,129
734,404
248,786
oper.
oper.
expenses
Net ry. oper.
y'vYjt"
>'
-
.♦.
87,784,049
47,931,067
$5,382,165
$4,207,653 $46,918,211 $39,852,980
3,791,979
1,787,970 25,235,313
15,008,859
revenues
accruals—
tax
1941—10 Mos.—1940
$
9,291,339 100,104,271
5,083,687
53,186,059
11,810,556
6,428,392
revenues
Railway
814,129
303,181
1941—Month—1940
$
Railway
Railway oper. income
Equip, rents (net Cr.)_
facii.
81,078
73,551
Ry.—Earnings—
Period Ended Oct. 31—
Railway
136,509
1—
Jan.
Norfolk & Western
25 declared an extra dividend of 75 cents per
the regular quarterly dividend of 15 cents per
for
the
issued
Walker,
statement
Nov.
bonds, headed by
urging holders of these
certified to the courts
income
mortgage and
first
a
28
Ballots must be returned to the Commission by Feb.
the ICC.
by
Net
Other
17
$2,419,683 $21,682,899 $24,844,121
405,564
3,772,467
3,310.459
9,999
157,874
\ 141,468
$1,590,186
519,298
rents (net Dr.)
11,585
inc.
(bal.)
items
$2,815,247 $25,297,492 $28,013,113
21,623
139,892
155,187
$2,097,899
income.
oper.
ry.
9,269
_
ment,
Net
believes that
Chicago & St. Louis RR.—New General At¬
$2,659,303 $23,669,518 $26,392,224
$5—
payable
Dec.
19
of $5 per share on the
of
holders
to
record Nov.
29.
The
quarterly dividend of $2.50 per share, previously declared on
this issue, is also payable on the same date.
An extra of $5 per share was also paid on Dec. 19, 1940, and on
regular
Dec.
22, 1939, on the common stock.—V. 154, p. 909.
North American Aviation,
the
directors
on
Nov.
28
Inc.—$1.25 Dividend—
declared
dividend of $1.25 per share
a
oh
stock, payable Dec. 24 to holders of record Dec. 9. This
with 75 cents paid on Aug. 20, last, and on Dec. 24, 1940,
cents on July 1, 1940, and $1 on Dec. 15, 1939.—V. 154, p. 248.
common
compares
50
•
Marquette Ry. in V. 154, p. 1303.—V. 154, p.
Pere
stock,
common
The
torney—
See
$1,930,659
income
Extra Dividend of
1303.
New York
$2,836,870 $25,437,384 $28,168,300
177,566
1,767,866
1,776,075
The directors have declared an extra dividend
plish this purpose, because of the relatively small percentage of bond¬
holders who supported the committee by depositing their bonds."—
154, p.
176,510
$2,107,169
funded debt.
on
urged the
co^urt to approve the plan," read the state¬
"and will support the plan in the pending appeals because it
consummation of the reorganization is more important to
the bondholders than is the possibility of obtaining better treatment
after further negotiation, litigation and delay.
While the committee
has been of the opinion that a separate reorganization, of the
'Gulf
Coast Lines' might be more beneficial to the bondholders than re¬
organization as part of the Missouri Pacific system, unless substantially
better treatment could be obtained than that given by the plan, the
committee was not in a position to carry on a long fight to accom¬
"The committee
income
Gross
Interest
next.
1267.
North American Co.—Debentures Called—
Co., Inc.—Appropriates $250,-
New York Merchandise
000 For Purchase
The
40
Co.,
of directors
board
has appropriated
the shares
of common stock,
shares
of
The
and
sum
If
stock
$250,000 for the purchase
so'acquired to be held in the
has been deposited with Bank
of the Manhattan
N. Y. City, as agent, and the bank has been
directed to receive tenders of the stock at the lowest
price and to accept such tenders,
per share, until the entire fund
a
point
tendered
is
reached
than
can
but in no event in excess of $9.50
deposited shall be utilized for such
where at a certain price there is
be
absorbed
by
the
funds
available
purchase, the stock at said price shall be pro rated amongst
various tendering stockholders.
Tenders will be irrevocable and
must be received by the company's agent not later than Dec. 15, at
3:00 P.M. Tenders
for
such
must be made on the form provided by the company
'' .7 7V
purpose.
effecting purchases
Members
of the common stock of company for
of tendering such stock to the company are cautioned to
be
guided by the provisions and requirements contained
in the
company's notice dated Nov. 24, 1941.
Members effecting sales of
such stock during the period of the offer of tender are cautioned to
make sure that their transactions are promptly settled and that they
or
their customers have not forwarded to
the company's agent a
form of tender on the shares offered for sale.—V. 154, p. 1267.
the
purpose
New York Ontario &
$1,300,000
was
Western Ry.—Trustee To Borrow
the issue of trustee's certificates to raise
granted by Federal Judge Murray Hulbert Nov. 26 to
Permission to negotiate for
total
of
for
$2,500,000 of 4%
redemption
as
of
debentures, series due 1959, have been
31, 1941, at 103% and interest.
Dec.
Payment will be made at the Central Hanover Bank & Trust
Broadway, N. Y. City.
See also V. 154, p. 1267.
North
St.,
Wall
authorized
A
called
Of Common Stock—
the
28 declared a dividend of 55 cents per share
cumulative preferred stock,
is after the deduction
1941,
New York Water Service Corp.—SEC
Co., 70
American Light & Power Co.—SEC Issues Re¬
port Recommending Death Sentence Proceedings—
Nov. 28 made public a report of its
The SEC
Public Utilities Division
recommending the institution of proceedings under Section 11 (b) (2)
of the Public Utility Holding Company Act of 1935 with respect to
the
for
accumulations on the 5%%
par $10, payable Dec. 17 to holders of record Dec.
ment was made on this issue on April 15, last, and
payable Dec.
paid this year, will bring the total
committee
H.
more
National Tea Co.—Accumulated Dividend—
on
preferred stock,
The last regular quarterly payment on
both payable Dec. 20 to holders of record
An extra distribution of $1 per share was made on this issue
purpose.
1266.
p.
October,
capital stock,
the common stock,
treasury.
stockholders, Mr. Walker reported that the directors
annuity plan for employees under which
the company will make certain contributions.
A special meeting of
stockholders, to vote on the plan, has been called for Dec. 15.—V. 150,
approved
of
securities to vote for the plan of reorganization
paid before the end of the year which will leave $1,633,344 in arrears
on
month
the
bonds, series of 1966.—V. 154, p.
increase
154,
A. E.
15,
Walker, President, states in a letter to stockholders.
Arrears on preferred stock have been reduced by $408,336, and an
additional reduction of $612,504 has been voted by the directors to be
$152,262
Urged—
G.
from $2,400,000
pay
V.
Jt.
Co.—To Pay Balance of Notes—An¬
nuity Plan For Employees—
bank
6%%
the
1.
New Orleans Texas &
V.
National Supply
for
4'A%
the
lative
Inc.—Extra Dividend of 75 Cents—
share, against $1.60 for
per
A
National Malleable & Steel Castings Co.—75-Cent Div.
The directors on Dec.
regular dividend of 40 cents per
(covering the quarter ended Feb. 1,
share
on
21, last year.
declarations,
Dec.
$120,940
Company gained 6,874 stations in November,
Co.—Resumes Preferred Dividend
per
declared
addition
in
5.
327,248
$15,878
7,210 last year.
Net
Clock
of $1.62%
been
New Idea,
dends
12% cents per
share and the regular quarterly dividend of 12% cents per share on
the common stock, both payable Dec. 23 to holders of record Dec. 5.
An extra of like amount was paid on Dec. 23, 1940, and on Dec. 23,
declared
a
3569.
p.
issue was made on Nov.
The
have
151,
holders of record Dec.
share
on
directors
declared
4
2 to holders of record Dec. 13.
A special
share was also paid on Jan. 2, 1939, 1940
Regular dividends of 40 cents per share are being paid each
dividend
Dec.
National Lead Co.—Extra Dividend Of 12 %-Cents—
The
Dec.
■rtThe directors on Nov.
;\
288,067
*$1,292
income
of
Net
payable Jan. 15,
quarterly dividend of like amount was also declared,
30,675
New York Telephone Co.—Gain In Phones—
20 cents per
New Haven
this
next, to holders of record Dec. 30.
Quarterly distributions of 25 cents per share
on
of
quarter.—V.
A
20,900
duplicate interest charges of $7,500 resulting from the recent issu¬
No provision is included in tax
special dividend of 20 cents per share on the
a
1941.
and
$1,245,826
Income
♦Net
$10, both payable Jan.
distribution
16 to
Co.—Year-End Dividend—
directors
and
share
year-end dividend of 25 cents per share has been declared on the
stock, payable Dec. 20 to holders of record Dec. 10.
A regular
the
applicable to the 1941 periods
1, 1941. Effective on that
31% plus % of the deficiency
Sept.
Hampshire Fire Insurance Co.—Special Dividend
New
common
the
to
up
1, 1941.
accrual prior to Sept.
The
$1,237,568
$103,706
after retire,
accruals
reserve
1941—12 Mos.—1940
1941—Month—1940
$106,380
revenues.™
inc.
for the
1938)
A
rate of 30%
corporation excess profits
liability therefor, if any,
be determined only at the end of the calendar year.—V. 154, p. 248.
par
1938.
dividend, Col. Georges F. Doriot, Chairman of
the board, reported that sales of the company's products for the first
ten months of 1941 were 32% larger than for the like 1940 period.
Col. Doriot also said that despite large cash outlays for plant equip¬
ment and materials in recent months, current cash was at the sub¬
stantial level of $2,700,000.—V. 154, p. 247,
In
accruals
tax
income
a
corporation returned to the ranks of American dividend paying
corporations on Nov. 29, when the directors declared a dividend of 25
cents a share on its 727,584 shares of common stock, payable Dec. 23
to holders of record Dec. 12.
The last previous payment was 50 cents
a
share made on the stock of the predecessor company; McKeesport
Tin
on
expenses applicable to such period for Federal
tax under the Revenue Act of 1941 as the
can
*3,128,814
net
date such accruals are based on a rate of
in the
Can
National
Sales—
4,564,827
Niles-Bement-Pond Co.—Repays Loan—
surplus
Note—Federal
were
8,042,283
636,255
6.417,387
of the
Period Ended Oct. 31—
Balance for com. divs.
3%% bonds, series A, due
July 1, 1966, have been called for redemption as of Jan. 1, 1942, at
103'A and interest.
Payment will be made at the Rhode Island Hos¬
pital Trust Co., trustee, Providence, R. I.—V. 154, p. 867.
of
29,660
chgs. against inc.
Prefi
total
22,789
Balance before divs.__
cost1056,
15,654,115
these
Operating
The
Narragansett Electric Co.—-Bonds Called—
A
$9,420,801 $14,100,900 $12,614,935
6,235,453
9,065,799
8,211,173
216,020
339,663
303,798
480,000
640,000
640,000
253,590
Depreciation
Taxes,
Fed.
Interest on
par
13,708,379
1,748,146
these dates, no charges for the stated leased rentals are in¬
covering the Old Colony RR., Hartford & Connecticut Western
Providence, Warren & Bristol RR. and Boston & Providence RR.
leases.
IDeficit.
flFor the purpose of showing the complete account
for the operated system, includes accrued and unpaid real estate taxes
on
Old Colony & Boston & Providence properties; also accrued and
unpaid charges against said properties for Boston Terminal Co. taxes
and bond interest.—V. 154, p. 1303.
of
earnings. $10,621,037
costs—
7,013,247
Other
plus-a-fixed-fee contract,
1,521,631
817,296
$289,122
a year ago.
gross
Operating
exps.
Earnings—
1941—10 Mos.—1940
'
$8,164,080 $88,811,003 $70,003,131
New York & Richmond Gas Co.—Earnings—
1941—9 Mos.—1940
1941—12 Mos.—1940
Gross oper.
revenue... $10,615,685
$9,419,306 $14,091,927 $12,608,198
Other income
5,352
1,494
8,973
6,736
145,000
1,000,000
1,788,253
5,540,945
for
30,000
116,033
2,844,520
122,970
for
Reserve
124,846
30,000
49,933
2,024,405
555,000
Reserve
contingencies.
liability insurance
Xv.,7.
fixed
^
charges—.
leases
but
For
$9,506,150
estate
England Power Co.—Earnings—
New
Total
$9,506,150
stock
real
661,116
for
avail,
of
ance
Liabilities—
♦Common
■.
real
pay
1940.
income.
oper.
ry.
1941—Month—1940
to
to
current
of
as
is
ago.—V.
used
1937
meet
following companies were rejected on dates stated
railway operating income includes the results of opera¬
properties: Old Colony RR., June 2, 1936; Hartford &
Connecticut Western RR., July 31, 1936; Providence, Warren & Bristol
RR., Feb. 11, 1937; Boston & Providence RR., July 19, 1938. tEffective
reported at 114,182 mcf., an, increase of 168 mcf.,
above production of 114,014 mcf. in the corresponding week
output
year
p.
New England Gas & Electric Associa¬
12,133,368 kwh. (Thanksgiving in Massa¬
this
corresponding week
Gas
a
earlier
be
years
to
,544,314
charges
ffiNet after
28,
of 2,696,154 kwh., or
crease
or
week
a
the
revenues..
oper.
Income
Association—Output—
New England Gas & Electric
Nov.
for
sufficient
New York, New Haven & Hartford RR.
Period End. Sept. 30—
61,227
—
per share has been declared on the class A and
stocks, payable Dec, 20 to holders of record Dec. 10.
paid on Dec. 20, 1940, and 50 cents on Dec.
ended
been
would
money
communities
have
year
RR.,
with $1
the week
The
trustee.
various
to
cluded
$2
common
1939 and on Dec. 27,
27,
1,473,340
J899.848
2,990,973
from Defense Plant Corp
rec.
Total
of
B
This
chusetts
447,469
1,222,496
assets
Fixed
1940
'
$2,107,127 $21,693,820 $18,843,379
Lyford,
levies, Mr. Lyford told the court.—V. 154, p. 1303.
tions
1941—11 Mos.—1940
1941—Month—1940
tion reports electric output of
1941
$9,324,979
<1
102,347
13.94%—
E.
taxes
Earnings this
♦The
Neptune Meter Co.—Larger Dividends—
A
class
in 1941 and
Aug. 31
;..
$2,400,822
1266, 961, 753.
154, p.
For
Comparative Balance Sheet,
154, p. 753.
Period End. Nov. 30—
Net
1940.
$633,020 in
estate
25 declared an extra dividend of 10
below
$856,871
237,654
950,615
,
($10
Nov.
on
Neisner Brothers, Inc.—Nov. Sales Up
6,966
145,000
15.—V.
Dec.
------
555,000
29,630
deductions
Miscellaneous
Expense of idle and unused properties
—
Provision for Fed. taxes on income of the year
Frederic
Cents-^
cents per
share and the regular quarterly dividend of 15 cents per share on the
common
stock, the regular being payable Dec. 23 and the quarterly
on Jan.
1, both to holders of record Dec. 8.
Quarterly distributions
of 15 cents per share were made on this issue on April 1, July 1 and
Oct. 1, last, as compared with 12% cents on Jan. 1, last.
Payment of the current extra dividend will raise total common divi¬
dends to 67 % cents per share for this year, as compared with 60 cents
paid during 1940.
VvV;"v.'3 V.'-l
The directors also declared the regular quarterly dividend of $1.31'A
per share on the preferred stock, payable Jan. 1 to holders of record
directors
The
122,074
general
and equipment
machinery
Interest
5,813
9,104
$3,338,131
-—
administrative
and
and corporate taxes—
expenses,
:■
—
*.
___
service,
Selling,
$2,040,813
55,135
$3,243,271
86-^6
profit
Discount
1381
THE COMMERCIAL & FINANCIAL CHRONICLE
Number 4016
*
holding
Section
company
(b)
11
(2)
system of North
is the provision
American Light & Power Co.
of the Holding Company Act
generally speaking, calls for corporate simplification of hold¬
ing company systems.
That Section makes it the duty of the Commis¬
sion to require holding companies to take such steps as the Commis¬
sion finds necessary to simplify their corporate structure and to bring
about the fair equitable distribution of voting power among security
which,
holders.
North
:
.
American Light & Power Co.
•
-
is a registered holding company
As of March 31, 1941, it
subsidiary of The North American Co.
had outstanding the following securities;
and
a
V..,:ju:.V.Owned
-; A:-. V
by North American
$9,000,000 $5,623,500
(62.4%)
rvv,7 -J);:
19,418,000
8,492,500
(43.7%)
.
debentures, due 1956
cum.
pref. stock, 194.180 shares
(liquid, preference $100 per sh.)
5%%
$6
Div. arrears thereon, $52.50 per sh.
Common stock
(par $1 per share)™
10,194,450
6,288,059
5,327,067
(85.0%)
THE COMMERCIAL & FINANCIAL CHRONICLE
1382
1
,1
public
following
utility
Years Ended
report concludes that the continued existence
Light & Power Co. unnecessarily complicates the
holding company system of which it is a part and
of
"Allowance
in
American
North
of
other income
908,965
886,187
650,900
438,446
—.
$1,975,581
146,775
101,259
•
—
$1,989,694
customers and
adjusted
Interest
persons
of debt
interest
:
Amortization
93,925
4,188
&
41,843
5,134
41,843
30,000
22,500
Cr9,655
Cr47,864
9,369
6,105
29,070
29,070
expense
of
fixed assets
sales of capital stockInterest charged to construction
of
Amortiz.
consistent with
Miscellaneous
the
Dividends
faith, absence
similar factors
in the relation between the two companies, that the remedy should in¬
clude subordination of the parent's claims to those of public security¬
sundry
expense
—
on
—*a
Net
paid tojr subsidiary
income
company
—
the
to
As
«<»
Power Co.
which North American Light
the report states:
tn
manner
liquidated,
be
*
*
assets for its security-holders,
would be a distribution of assets to the security-holders.
This elimi¬
nates the underwriters' fees and other expenses which sales of assets
for cash would entail, and thus prevents the dissipation of, and con¬
serves for the junior security-holders, some five to
10% of the assets
of the Corporation. * * *"
'««»
» *
Whether there is an equity for the common stockholders of
Light & Power will depend on the facts developed at the hearing. It
should be observed that the probability of there being an equity for
the common stock is considerably enhanced by satisfaction of the prior
Light
scheduled
lines
V
•
'
to
Central
H.
E.
Republic Co
Rollins
&
Other
95,000
Interest
plains
73,222
20,546
Operation
Maintenance
Federal
«
taxes—
income
17,890
12,472
Operating revenues
1,900
Net
217,073
2,200
2,602,568
35,732
61,346
743,969
15,017
taxes
Other
©perat'g
12,575
146,622
-V.
$331,572
75
2,224
482
'
Other
income
(net)
196
—
.v
>
V
depreciation
u
$333,296
325,000
25,000
25,000
127,807
income
Gross
«...
Income deductions
24
$79,109
$83,820
$932,933
$988,636
20
Dr899
1,516
2,495
■
$82,921
,
$934,449
%
deducts.
3,926
68
108
;
$42,963
$45;985
7
'
Dr277
for
bad
debts
1940.—V.
154, p.
Orl7,264
$5,603,497
of
in
$77,956
1941
57.
$21,222
-
V.
*——
—._
•Operating
directors
Dec.
on
oh the
Int. on first
1,882
$34,199'
$160,100
754.
p.
Other
334,202
Net
fixed-
'
$76,958
per share
$6,750,878
$6,228,430
275,371
3,072,132
2,716,633
taxes
263,599
29,155
19,385
261,908
148,541
(excluding
profits)
73,181
68,877
812,405
789,261
retirement
rer
H
appropriations.
serve
*
57,908
57,908
10,994
,
8,960
$280;408
"
<
notes,
Bal,
2,735
—V.
34,570
31,473
1,204
2,537
1
income
oper.
$17,316
$17,076
investments
1,026
12,243
$685,458
1,593
/
Operatihg Income
Other
"449,358
income'(net
Gross -income.
dr.)
Interest
<>'$234,507
112,613
.
■
95
V-
.
.
$188,053
on-mtge. bonds
Interest charged to
* $167,795
-
.
85,417
19,832
- v ?
"
con-
'.iv
23,808
$152,582
$149,690
Gross
$74,807
32,282
34,225
$116,408
1st
$40,582
$2,191,749
revenue—
Operating
781,598
expenses
for Taxes:
Provision
income
General
Fed.
3,050,000
$682,909
$570,501
Gary Heat will be
in liquidation.
dissolved and Northern Indiana
will
Net
288,114
3^449,342
$400,307
income
Divs.
pfd.
on
Balance
acquire its
—V.
$282,387
$4,019,362
155,577..
155,577
stock
154, p.
$126,810
$244,731
—*—*—*
close
$4,086,780
;
and
Gross
Net
to
dissolution
capital from $5,000,000
to
Gary
$2,000,000
Electric
and
will
will
reduce
offer
the
its
Stated
Northern
Indiana
common
stock
and
any
other
assets
1940
$9,559,720
$9,519,019
3,263,689
2,421,709
accruals
reserve
income
Outboard, Marine
3,530,737
2,656.752
$3.33
$3.75
&
Manufacuring Co.
(&
1941
Net
sales
Cost
and
$13,027,556
*
194D
$9,987,145
7,994,302
10,356,289
expenses
$1,652,052
$1,867,636
103,041
$1,531,356
$1,970,677
8,286
$1,581,039
9,617
tf216"86i
f95,000
At
the SEC
stipulated
that
Northern
536,246
Utility plant of GaTy Heat on its books at an original
$8,783,174 and will record the reserve for depreciation on its
of
books for "the. Gary
,
Other
-
income
Reserve
? 16,269
by
$2,268,000;
there
shall
be
charged
against
an equivalent amount of the property
acqui¬
adjustment resulting from the transactions;.and the balance of
such property acquisition
adjustment is to be charged against earned
surplus.
The
■
adjusted
154,
.
on
U.
S.
I
Advances
to
insurance
p.
695.
49,684
'
a
Northern States Power Co.
Electric
output
Net
profit
$l,5l9,129t$$l,314,876
—
668,530
33,539,000
kwh.
8.2%.—Vv
154,
of
the
Surplus
(Del.)—Weekly Output—
Northern
States Power Co. system for the
36,290,000 kwh., as compared with
for the corresponding week last year, an increase of
Nov.
p.
29, 1941,
1303.,
totaled
,
'
y •
4
...j
;
i .•
* -
:
.
v
'665,731
this
of
.
„
corporation,
the
•_
In
Earn,
per
sh.
"Includes
cap.
surtax
stk.
on
$850,599
$5.11
undistributed
$649,145
$4.43
a
$714,158
542,787
profits.
$404,622
$3.49
tSpecial
;
.
•,
•
•
recently
with
,
was
in
New
ahd
•
,
charge <of
headquarters in Lima,
in
Dec.,
company's
1940, has been appointed
businss in South America
,
of
the
at Lima,
Peru; "'
Disher, who
company
v
-
and
"
.
,
will
continue to
.
*
,
was
make
«
,
has
now
been
appointed
Chief
Pilot
in. Lima, Peru.. - .
Young, -who has been, connected with the
and
will
continue
^
maintenance
staff
1937, has been appointed Maintenance Engineer at Lima, Peru.
-announcing the Changes-approved by the Board of Directors,
-•
"During the .past year Pan American-Grace Airways has undertaken
tremendous
expansion
facilities
of
and services, closely paralleling
substantially improved commercial interchange between the United
and
"The
already
South
America
and
requirements
extension
of
activities
realized,
service
involved,
have made
the executive departments." ,
$2;40
reserve
charge of the
Vice-President
communications
$171,371
of
the
greatly
Hemisphere
over
together with
greatly
important
necessary
;
.
increased
transport
Defense.
international
new
•
routes
>•/
and
and
V,
the
increased traffic
advancements 'in
'
12 months scheduled frequencies on Panagra's lines
by approximately 40% and route mileage, has grown
5,400 to about 8,000. « Comparisons of operating figures for the
During the last
for
possible future loss on inventories of parent company, tlncludes $4,861,
preparing Galesburg, 111.,
plant for operation
(less $6,000 value
assigned to land donated toy /Chamber ,-of Gommeroe), >and $35,858 loss
Vice-President
a
in
Harold J. Roig, President, stated:
v.
the
€32,282
.,
,
in the
advancements
following
personnel were approved:,
1940,
H.
since
*159,232
$1,036,904
*
Airways, Inc.—-Changes In Per¬
.
stationed
be
B.
operations
week ended
'
Lima, Peru. 1,V
.
1
T.' Shannon,.' who 'became Maintenance Engineer in "1937,
States
Dividends
.
,
"
to
;
23,793
terms
common
,
Capt. C. R.
became Chief Pilot in 1938, has been
appointed Operations Manager, with headquarters at the Lima base,.
Capt; F." E." Nelson, who was made "Assistant Chief Pilot in Sep¬
**20,000 V(
«.—«
such
,
•<
elected
his office
11,139
unemploy,
fund
taxes
Company is
656,250
* • v
.•
Kirkland, who has been Operations Manager Blnce early 1939
was
elected
•
$928,573
V
the
upon
the
With headquarters at
.251
'
Income
Other charges
,•
surplus of Northern Indiana then is to be
payment of dividends on the company's common
$887,515
41,058
.
of
subscriptions may not be received.
,
Vice-President
118,161
120,696
funds*
'
earned
restricted against any
stock.—V.
...
Exch.
the
capital surplus so created
sition
.
offices
T. J.
and
$1,005,676
'
of
share,
per
any
Peru) has been transferred to New York.
$39,919
$2,595,729
Interest
reduced
President
$100
best,
regular meeting bt the Board of Directors held
a
tember,
the same figure as It is stated on
the Gary Heat books at the date of acquisition. Furthermore, the stated value of Northern Indiana's common stock
be
$2,518,887
76,841
"Total Income
Heat plant at
must
:
and -the
than
think
Campbell, Vice-President, who
the company's business in South America
30
364~599
$2,671,267
152,380
Profit
Indiana
Will record the
cost
31
less
may
of New York has been appointed registrar
additional 856,250 shares of common stock.—V. 154,1). 1102.
transfers in
Subs.)—
tl3D,000
(148,525
Depreciation
of
$1,992,843
125,207
794,208
operat—
>
Guaranty Trust Co.
York
Gary Electric.
Among other conditions,
Dec.
he
Pan American-Grace
1939
*
-1938V
$8,267,313 $6,649,932
6,615,261
5,644,256
19,003
from
;
.•
,
of
not
at
as
which
sonnel—
J,
Profit
i;,
authorized. 656,250- additional
'
' r
Consolidated Income Account for Years Ended Sept,
paid out of the treasury of Gary Electric.
v;:;,
Public stockholders of Gary Electric who do not accept the cash
offer will, upon liquidation of the company,
receive a proportionate
of
458,478
Telegrkpli Co.-r-Listiflg—•.
Douglas
holders $6.50 for each share of Gary Electric's common stock.
■Of this -sum $6.30 per share will be paid by Gary Electric from cash
received from Northern Indiana and the remaining 20 cents will be
share
sell
to
for
lor an
>
1941
revenues
after retirement
income
public stock-
'
Co.—^Earnings—
Earnings per com. share (550,000 shs. outstdg.)
—V. 154, p. 1268.
definitive
prior
458,478
$100-) upon official- notice of Jssuanee,
Registrar—
12 Months Ended Oct. 31—
Operating
acquisition of the Gary Heat assets, Northern
plan of liquidation of Gary Electric has been
formulated, the SEC said a definite commitment has been made that
the company will be dissolved at as early a date as possible.
The SEC
that
$826,957
registration
business-on
"conditions
shares
$2,219,857
909.
Oklahoma Natural Gas
serial notes and between 278,025
and 370,700 shares of no par value common stock.
said
of
authorized
1,866,923
1,866,923
$2,152,439
the
to
the Securities Act
The
Indiana is to issue $5,000,000 of 2.75 %
no
1,394
'■
$850,187
$391,709 ^ $368,479
Subject
under
_
further that Gary Electric will redeem its out¬
standing mortgage indebtedness and will be liquidated and dissolved.
Pending the filing of a definitive plan for dissolution of Gary Electric
the SEC-retained jurisdiction ever the proceeding.
While
fflii 'iiit i r-H
to pref. stocks for the period
Shares1 (par.
common
is. contemplated
connection with the
'ini
$54,323
statement which the company has filed
1933, becoming effective, the company will
/
give to its shareholders rights to purchase at'par, one common share
$7,473,090
v for each
four preferred and/or common shares- held of record at the
3,386,310
it close x>f business on Dec. 1.' The right to subscribe will expire at the
$7,468,704
282,602
income—•_
■-
s
$82,804
••
•
vThe^ New iYnrlu Stock JBxchange- has
2,725,000
-
'
assets
In
225,000
&
zation.
It
250,000
deprec
Gross
Gas Co. the common stock of Gary Heat, Light &
Water Co. for $10,066,000.
All three companies are subsidiaries of
Midland Utilities Co., a holding company now in process Of reorgani¬
Electric
2,224,304
1,189,700
1,292,300
116,600
profits—
excess
Ittt.;#nd ;pther deduct.*
Company has been granted permission, by the SEC to purchase from
Gary
166,100
income
for
Prov.
Service Co.—Authorized To
Buy Stock Of Gary Heat—
;
<
Pacific Telephone &
.2,2391011
198,400*-*rl;819,lt)0
.189,696
194641
—
Federal
154, *>. 962.
Northern Indiana Public
244,717
—V. 154, p. 962.
$1,754,530 $23,888,839 $20,141,979
570,933
8,019,724
6,529,884
■
Net
—V.
1,025,000
v
Balance
1941—TO Mos.—1940
1941—Month—1940
Period Ended Oct. 31—
$7,273
income
interest).
$17,659
collat. lien bonds—3%
inc.
on
$2,095,280
«
430
income
Net
.
-
259619
:.,
r..
struefcion—Or,
154, p. 868.
-
.
$2,134,576
1,025,000
$163,548
v
85,417
«
Other int.. and. deducts,
81925
$2,098,675
3,395
18,670 ';>?■
$163,643
-219
;
226,153
$1,878,959
219,716
$1,909,399
•
$188,272'
—
"f
$2,135,552
$76
$144,973
Ohio Edison Co.—Earnings—
(before deduot.
of
Interest
136
"
4.
-Net-oper.- wrventiefc—.. •; $169,201
Rent from lease of plant •
19,071
Dividends applic.
10,571
694,900
134
—_
^
equipment
etc.
*
694,900
r
limited-
..
467,878
$26,036
$28,310
taxes
paid on
were
1941—12 Mos.—1940
1941—Month—1940
„
"
$748,286 " " $683,865
$71,129
45,093
'
-
48,648
cents
$566,514
Property
'•*i $149,205
$750,055
1,769
•
50
15,-1938, to and including Nov. 15, 1941;—
,
on
J
taxes
-excess
^;I&41^4fohthUP94(); Sl9«^bMbis^l940
$71,296
167
•
$593,044
revenues
Amortization of
$77,137
179
»
.
,
for Fed. inc.
Pro v.
$483,407
$494,299
4
154,
Operating
"
coll. lien
bonds—3%
Interest
^
3
Operating expenses, ex¬
cluding direct taxes^_
193
cludes Income int.):
:•
and
of
issued
assets
net
common
Period Ended Oct. 31-
66,164
-
—
revenues
in
T941
in
Pacific Power & Light Co. (<fc Subs.) —Earnings— :>
126,000
119,788
54,244
154, p. 909.
Net oper.
$119,948
$192,406
$11,212
$73,129
and
.
-
the common stock from Aug.
•
$991,131
315,753
<
268,000
22,333
10,500
4,211
■1
9,975
Operating revenues^.
Operating expenses
(ex¬
1,369,785
1,523,043
1,369,785
'
;
1,485,720
declared a year-end dividend of 50 cents
stock, payable Dec. 29 to holders of record
Dec. 13.This payment, together with $2 per share previously paid
this year, makes a total of $2.50 in dividends to shareholders for the
current year, compared with $2 per share paid in the year 1940.
300,000
/
24
Operating revenues
Uncollectible oper. rev.
$247,755
140,891
$22,450
11,238
in
The
.
$32,777
11,555
—
Depreciation
.■•284,377
predecessor companies as at Sept. 30, 1936, less capital stock
under agreement "and act of consolidation.
SAfter reserve of $1,405.
HRepresented by 20 shares at cost in
1941, and 1,265 shares at
.
•
i
before
income
Cross
•'
"
551,975
'
>
Owens-Illinois Glass Co.—Year-End Dividend—
Period; Ended Oct.- 3I-*
$247,273
'
2,192,688
reserve
for depreciation of v'$l,447,118"
1940.
JRepresenting amount of recorded
in
per share
Ohio Associated Telephone Co.—Earnings—.
<$22,375
$32,581
::
■
1,485,720
—
reserve
$1,353,916
term
before
Income
depreciation
45,045
867,579
$7,515,949
1940.: ? fAfter
744,526
22,333
Balance
9,605
154,031
1
146,678
10,908
$79.,129
income
1
.
$259,184
-500,000
2,522,318
93,179
f, stocks for the period
199,993
221,238
stock
'■
■!
.'
■'.252,556
-
taxes____^
Total
/
751,451
785,496
income
*
IITreasury
$4,566,412
—
$1,353,944
$1,527,569
$117,017
62,278
for
$5,603,497
':
.
406,366
Capital stock (par $5)
tCapital surplus —
Earned
surplus
'
1941—12 Mos.—1940
1-941—.Month—1946
,
—»
.Reserves
1941—12 Mos.—1940
65,119
struction—Or.
North Texas Co. (&
2
74,368
'
$396,486
Provision
'
$4,697,673
(net)
int. and
457
$7,515,949
'
payable
liabilities"
payable by Canadian subsidiary
Dividends payable
154,
towns.—V.
Co.—Earniiigs-
mtge. bonds
debentures.
on
'1.610,803
2
>
96,903.
i
Interest charged to con¬
$153,838
equipment
>;
cost
income
Gross
Interest on
388
1,838,673
-
the Twin Cities and Fair¬
Canadian
224,863
11,450
revenues
income
29,026
/.Notes
Amortization of limited-
Other
27,663
——
Total
Accrued
"
$389,439
profits)
investments
1,400
expenses
(excluding
taxes
excess
319
1,400
Liabilities—x *
calling for the authority
Washington, D. C. Others
establish a line between
1241—Month—4940
Property retirement re¬
serve
appropriations.
Other
Period Ehd. Oct. hi—
and
Accounts
to
between
$405,541-.
Frov. for Fed. inc. taxes
120,000
Co
«-V. 154, p. 1267.
and
several
319
cost
"After
Period Ended Oct. 31—
115,000
C. Allyn &
A,
of
payment
licenses and trdmks.—at nom. value—
i,
■
one
to
to
as
Bank of Waukegan,
Prepaid
170,000
-600,000
—_
,
is
authority
bank restric.
Regular quarterly distributions of
500,000
—,
York
New
way
Operating revenues _i_
Operating expenses, ex¬
cluding direct taxes—
term
650,000
Burr
by
these
of
for
Northwestern Electric
$200,000
900,000
Sons
&
Wampler & Co
Stern.
Coffin
recent
asking
6,828
cos.—
life insur. of a face amount
Patents,
the CAB asking for
with
6,030
2,069,858
4,455
7,650
deposits with mut. ins.
—
Notes
$1,050,000
—
application
9,057
564,537
2,426,648
—
—
in domestic
fPlant
;
^
Air¬
Board.
Aeronautics
an
Northwest
300,120
bonds—
Property under lease to others—at cost less res.
for
depreciation
Deposit for purchase of fractional shares of
company's capital stock..—
1303.
Net oper.
.
file
of
1943
Loan
•
224,269
743,652
invests, in First Nati
111.—at
Southern Minnesota,
receive
regularly
program
War
1940
v
$1,008,118
230,169
$50,000——-
§Cash
•
Serial
Bonds
Civil
to
expansion
route from Chicago
Cities and
Alaska,
banks,
p.
Most
applications
the Twin
■
the
the NWA
extend
include
a
■
new
including interest
——
value of corp.
of
will
pointed out that the feeder line application is part of
service to
routes.
feeder
/■:
■
a
Dakota
First
Canada
Balance of prem.
Cash
•
The corporation now has pending before the CAB Several applica¬
tions "Which will affect favorably all of the towns to be serviced by the
follow:
them
by
intention
of
Hunter
Mr.
special meeting have voted approval of proposed
plan of reorganization which provides for acquisition of the North
Shore Coke & Chemical Co. and the issuance and sale of new first
mortgage bonds and notes to refund the joint first mortgage 4%
bonds, due Jan. 1, 1942, of the two companies.
Stockholders of North
Shore Coke & Chemical Co. also voted approval of the plan.
Company has filed with the SEC an amendment to a registration
statement (NO-2-4899) disclosing that $3,700,000 of the first mortgage
series A bonds is to bear interest at 4% and is to mature on Dec. 1,
1981.
A proposed
issue of $700,000 Of serial notes is to mature
$50,000 semi-annually from June 1, 1942, to Dec. T, 1948.
The public offering prices of the bonds and serial notes and the
interest rates on the latter are to be supplied by later amendment,
v
Underwriters and the principal amount of securities to be bought by
at
if
South
and
long range plan t>I Northwest Airiin'es to establish -air
smaller cities in the territory covered by its present routes.
Stockholders—
Stockholders
approved
a
Co.—Hevampiiig Plan Approved By
North Shore Gas
is
service
air
Notices
Iowa
authority to establish feeder service into these towns, which fall within
a 300-mile radius mostly south and west of the Twin Cities, were sent
out on Dec. 1, President Croil Hunter announced.
-
154, p. 1193.
than in cash."—V.
Claims in kind rather
i
its
conserving
while
Power
&
Wisconsin,
western
Of
securities,
Inventories
Airlines, Inc.—Feeder Line Application—
Northwest
Thirty-four small ahd medium-sized cities in
,
of liquidating
that the only appropriate means
it may well be
Treasury notes, tax series B,
"Receivables
.
should
S.
Dominion
Note—It is estimated that no Federal excess profits tax will be due
for 1941 under the provisions of the 1941 Revenue Act.—V. 154, p, 67.
holders."
1941
hand——$1,836,333
Government
•
;
Consolidated Balance Sheet, Sept. 30
banks and on
S.
$1,313,627
$1,178,693
,
additional
compensation to
1,3Q0
the net income would have been $1,133,923 and equal to $3.82
capital stock.
: > - .«•
■
.
in
Stock
with the subsidiary, mismanagement or
subsidiary. flWrite-down of
Provision for investment loss.
losses
on inventories, service to
ttlf the above statement had been
contingencies,
the $180,953
reflect
U.
>
<"We do not "here Consider whether there Was •such had
of fair dealings
other
Canadian
future
U.
•
—<*
of
and parts.
Assets—
'■
discount
— -—_—_—
to
>
.
..
612,500
93,687
debt
funded
on
Amortization
accounts
for possible
per share of
840
612,500
.income
Gross
holdings in the
than the net cost to North American of its
particular class of securities involved would not be
standards for a fair and equitable plan. * * *"
higher
654,571
income taxes
of
tfSpecial reserve
Cash
amount
amy
695,325
operating income
Net
Other
^claims
these
256,647
.
conversion
inventories of refrigerators
1,914,098
247,560
$1,842,918
Provision for Federal & State
Total
$6,116,444
from
—
__—
foreign exchange, including $34,655 from conversion of accounts of
subsidiary. : iLoss ;< on foreign exchange, including $3,019
on
Si Canadian
1940
$6,441,664
2,086,909
—;
—
——
d„—
(other than income taxes)
Taxes
the report states:
connection,
1941
/—
Depreciation
American
(& Subs.)—Earns.
\
.
Maintenance
staff
The
(Wis.)
Sept. 30—
Operating revenues
Operation
of North
structure
of the
therefore
ought to be liquidated under the provisions of the Holding Company
Act.
The report also indicates the treatment to be accorded various
classes of security-holders and recommends that the North American
Co. be limited to cost on the debentures and preferred stock of North
American Light & Power Co. which it holds.
'.<•
The net cost to the North American Co. of the $5,623,500 of deben¬
tures of North American Light & Power Co. is $2,152,125, while the
net cost of the $8,492,500 of preferred stock is $4,130,875.
In this
;
States Power Co.
Northern
controls or has a controlling interest In
companies: Kansas Power & Light Co.,
Missouri Power ft Light Co., Illinois Iowa Power Co., Des Moines Elec¬
tric Light Co., and Northern Natural Gas Co.
Among others, the oompany
the
Saturday, Becember 6,1941
11
11
11II ir ) i n
i
>•
V
have
from
increased
first nine months of
1940 and of
1941
show passenger miles increased
THE COMMERCIAL & FINANCIAL CHRONICLE
riVolume 154 ' Number 4016
•from
passengers
the
At
time,
same
numbers
now
.plant is in the neighborhood of 4,500 planes annually with
1,883,661
to 22,828.
Panagra's payroll has been expanded so that It
to 17,260,649, plane miles from 1,148,110 to
carried have more than doubled from 11,019
10,863,261
and
than
more
1178.
thousand.—V. 148, p.
a
••••*
*
capacity of
the
-j
with
completion
delivered
10,000 planes a
over
Coincident
•
to
the
the
of
Lock
Oil
Pan
10,000th Cub.—V.
King Oil
(Del.)—To Purchase Block Of
Co.
Stock—
A
dispatch
press
Falls,
Wichita
from
R.
states:
Texas,
King
A.
and
stockholders
other
in
King Oil Co.,
the
one
Gross
,
.
.
Retire
directors
The
of
25c
$1.50
per
the
on
declared
4
Dec.
on
dividend
a
495,283
771,421
railway....
24,881,026
Net from railway
Net ry. oper. income...
6,905,700
19,701,428
4,599,114
15,019,849
2,151,311
11,284,420
1,012,952
oper.
Jan.
The
stock
dividends of
;be
payable
and
Inc.,
Pictures,
eight
to
be
6,081,344
4,534,511
2,538,117
Proceeds
'
to
1,422,756
redeem
mortgage
have
first
declared
series
class
if
but the
date
share
of
of
class
prior
ferred
preferred
Dividends
B
7%
dividend
on
of
stock,
$2.75
payable
share
per
stock
Dec.
the
to
up
:
on
19
;'
l:
i
exchange.
first
exchange
The
series
preferred stock for
offer
preferred
prior
delayed
four-tenths
is
stock
until
of a
the
said alleged payments.
The defendants in each
general denials to the actions.—V. 154, p. 1057.
entered
..
dividend of
$1
Period Ended Oct., 31—
Operating revenues
20,
and
1940,
each
$1
17
Sept.
on
taxes
Fed.
Warner
serve
145,602
173,468
$3,436,357
1,985,897
2,030,405
7,530
28,190
oharges and taxes—V.
term
32,272
431,354
Weld
; White,
that
Net
275,000
removed
were
Transfer
j
•
■
The
behalf
on
the
on
the
$1.25
the
of
as
of
close
of
offering
oper.
10
(net
■
418
21
$76,491
$70,236
$843,608
225
245
3,345
dr.)
income
Gross
Interest
$728,365
2,116
Interest
$76,266
and
$69,991
$840,263
$726,249
37,628
39,439
461,813
482.975
2,187
mtge. bonds
on
int.
2,315
32,932
charged to
A
announce
on
Dec.
On
749
3,366
and
1,232
$28,986
$348,884
$214,992
applic. to pref. stocks for the period
430,167
National
Bank
the
of
$215,175
_
—
accumulated
York has been
New
shs,
75,000
of
cumul.
$1.25
stock.—V.
pref.
154,
1269;
p.
The
and
151,
and
directors
The
An'
i
Dec.
of
extra
$2
1939.
20.
1937.—V.
-
Dec.
on
2
r
dividend of $2
declared an extra
per
share
regular quarterly dividend of 75 cents per share on
stock, both payable Dec. 27 to holders of record Dec. 11.
the
common
of $1 on
one
154,
the
.
also paid on Dec. 26, 1940, and on
Dec. 20, 1938, and one of $1.50 on Dec. 23,
share
per
was
dividend
A
stock,
with
of
cents
^
cents
12.
This compares
1, last;. 40 cents on
preceding quarters.—V. 152,
per
•April I, 1941, and 50 cents per share in
p. 3663.
.•" •
■'
•
.
'
■
•
•
shares
cumulative
of
•
share basis.
J
,
>
preferred
*
1,
dividends from Nov.
lieu of
.
The
.
from
>
f
«
•
exchange
in
for its
■'
.
.
1941.
,,
.
•
,,
preferred stock not exchanged
has
company
applied
for
of
exemption
;:
of stockholders called
meeting
special
.
the
the
preferred
new
new
will
12
to
and
common
preferred.—V. 154,
p.
stock
and
the
dividend
total
A
,
rates
'as of Jan.
•
•
1,
1942,
of
office
the
The
at
102% and
Pennsylvania
for
Insurances
'p.
4020.
-
Piper.
the
10,000th
Haven.
first
The
'
Pa.,
-
aircraft manufacturing
in
was
soon
more
v
-
cents
deemed
of
it
$921,229
$820,974
.
Rayonier, Inc.—Repays Bank Loancompany has prepaid another $500,000 of its long term bank loan
representing the maturity due Feb. 1, 1944
This w.ll leave $3,500,000
still outstanding.—V. 154, p. 1304.
Remington Arms Co., Inc.—To Pay 20-Cent Dividend
dividend
stock,
with
25
we
cents
at
per
this
share
have decreased and according
therefore, it is important to change
cents
five cents
$12,340;
.—•
——
Sheet, Sept.
30,
201,428
1941
marketable securities, $34,451; secured notes,
receivable,
$313,168;
land
contract
receivable,
materials inventory, $179,591; products (finished and in
inventory, $219,155; supplies, $98,563; prepaid insurance, etc.,
fixed assets (net), $1,332,944; deferred assets, $83,440; total,
stock,
$83,415; accrued wages, insurance, etc.,
for Federal taxes, 1940, $63,013; reserve for unclaimed
common stock
($1 par), $268,750; paid-in or capital
total, $2,672,551.
the above figures for
surplus. $921,567; earned surplus, $1,279,382;
provision
taxes
which
of
7%
made
been
has
the
company
in
estimates
will
amount
to
1941
approxi-
The
directors
mately
have
reached last week when
previous
6*/4
is
■
at an
Dec.
on
extraordinary meeting
the
3
206,385
shares
of
of
its
reclassified into 722,347% shares of
rate of 3% shares of common stock
were
the
at
class A
-
•
Inc.—Stock Reclassified—
stock.
the company has outstanding
sinking fund bonds due 1960, $2,458,700
stock, $9,411,800 of
5 %.%
cumulative
1,286,916% shares of common stock.
Approxi¬
reclassification
the
81 f!t,
preferred
and
the., outstanding
of
stock
capital
represented
was
meeting; of the stock so represented approximately
favor of the reclassification and approximately 3%
reclassification.—V.
A
154,
97%
was
at
the
voted in
was
voted
against
1058.
p.
year-end dividend of 62 % cents per share has been declared on
stock, payable Dec. 22 to holders of record Dec. 6.
This
the
capital
compares
Dec.
on
—V.
with 50 cents paid on Dec.
and
1938.
21.
154,
21,
1940, on
Dec.
dividend of 25 cents
initial
an
18.
and
1939,
Dec,
on
24,
1937.
1151.
p.
Ritter Dental Mfg. Co.—25-Cent Common Dividend—
A
dividend of 25 cents per share has been declared on the common
stock, payable Dec, 16 to holders of record Dec. 6,
A like amount was
paid on this issue on July 1 and Oct. 1, last.
The previous payment
on
the
V.
154,
declared
a
dividend
of
25
cents
per
share
on
stock
common
799.
p.
was
also
25
cents
'■;/
Riverside
River
Dan
&
made
on
Dec.
"
24,
1937.—•
•
Cotton
•
Mills—Accumulated
Dividend—
due
directors
Nov.
on
29 declared the
deferred semi-annual dividend
1940, of $3 per share on the preferred stock, with interest
due date, payable Dec. 15 to holders of record
July 1,
said dividend from
on
Dec.
4.
The
declared
also
directors
the current
semi-annual
dividend
of
$3
preferred stock, payable Jan. 1 to holders of record
per share on the
20.
Distributions of $3 per
share were made
on
this stock
on
Feb.
15 and
July 1, last—V. 152, p. 4137.
Rochester Telephone Corp.—EarningsPeriod
Ended
Operating
Oct.
1941—Month—1940
31—
$500,838
oper.
$4,890,052
7,087
9,251
$472,043
$4,882,965
$4,622,581
rev._
___
$500,838
332,201
revenues-
$168,637
revenues-
expenses
1941—10 Mos.—1940
$472,571
528
revenues
Operating
preferred stock, par $5, and a dividend of $2.50 per share
preferred stock, par $50, both payable Dec. 29 to
holders of record Dec. 13, making full disbursement for the year.
(
On June 25, last, a payment of 50 cents on the first preferred stock
and
one
of $2.50 on
the second preferred stock were made.
Last
the
on
which
of
stock
preferred
Operating
.
Pressed Steel Car Co., Inc.—Preferred Dividends—
the 5%
stock
cumulative
Uncollectible
•
Baltimore
in
A
share of
result
a
Dec.
■
Note—No
held
the common
This compares
23, 1939, and
on
Dec.
on
"
:•
Brass
&
corporation has announced that
common
The
accounts
$253;
.;••
class
cents
1938—V. 154, p. 910.
23,
Copper
oustanding
$533,938
—
raw
reserve
10
to
$629,938
96,000
:
—
paid
dividends,
1940,
23,
■
Liabilities—Accounts payable,
$56,351;
share has been declared
holders of record Dec. 10.
to
Dec.
'
:
The
23
on
Dec.
on
Revere
As
cents per
Richfield Oil Corp.—62%-Cent Year-End Div.—
taxes
before
20
paid
to
and unlike
machine topi builders and others who
will be faced with a new production develop-
.
.
of
payable Dec.
18
$7,100,000 first mortgage 3J/4%
advisable
Assets—Cash, $355,092;
.
and
„
238,484
,
possible.
Operating profit
Depreciation
;y
••
376,609
284;223
:
i_
696.
stockholders
companies
Balance
$4,631,832
314,048
3,227,213
3,119,663
$157,995
$1,655,752
$1,502,918
first
5%
second
distributions
made on Dec. 24, 1937, and amounted to
respectively—V. 154, p. 1103.
v/ere
cents and 62% cents,
Net
oper.
Operating
Net
Net
—V.
83,669
income..
;;i
income
68.895
732,949
640,600
$84,968
$89,100
$922,803
$862,318
57,074
taxes
oper.
•:
62,603
652,917
594,510
154, p. 869.
~T"V •' '/i
of
Procter &
Cub was manufactured in August of 1940.
Then, in a little
than a year, as many Cubs were produced as during all the other
preceding years.
have
Distributions
action.
year;
as
public,
5,000th
'
15
of
Profit
rolled off the busy assembly line of the Lock
this corporation.
airplane was test flown on Sept. 10, 1931, and the:
Cub
the
Dividends
Piper Cub
plant
directors
Imately $329,000—V. 152, p. 1765.;
/_>
-■
as
$2,672,551.
Air'braft Corp.-r-10,000th Cub Completed—
milestone
A
.
■
of
We may haye to pass through an unprofitable and expensive
operations.
The need to conserve company resources is
apparent and more particularly in view of the high Federal
tax situation.
cr;
'
' ■ ' '
We are developing some new items which have been presented in
Washington and which, if adopted, would help solve our problems and
improve the outlook for profitable business.
authorized by
;
dividend
Earnings for 9 Months Ended Sept. 30, 1941
of
the U. S. District Court at
Philadelphia to pay the coupon due July 1, 1934, on the outstanding
5%
first mortgage bonds.
No payment of interest has been- made
since Jan. 1, 1934.
Company is undergoing reorganization.—V. 144,
has been
company
the
that
end. next
a
Philadelphia; & Western Ry.—Interest—
The
interim
ment.
Federal
;
$1,441,067
372.585
'.
special dividend of 25 cents per share has been declared on the
stock, payable Dec. 22 tn holders of record Dec. 10.
distributions of 25 cents per share were made on this
issue from Nov. 1, 1940, to and including Nov. 1, 1941, and, in addi¬
tion,: extras of 25 cents per share were paid on May 1, Aug. 1 and
Nov. 1, last—V. 154, p. 661.
"
the
work
$24,543;
Lives
on
an
share were made on the common stock
1941—V. 152, p. 3663.
dividend
.
mortgage-6% bonds of C.
been called for redemption
interest.
Payment will be made at
Co.
declared
28
product'manufacturers or
$19,264;
Granting-Annuities, trustee, Philadelphia, Pa.—V. 154, p. 963.
$1,578,036
—
Quarterly
therefore
$95,500 of real estate first
dated Jan. 1, 1924. have
of
company
cents per
15
automobile
to
period
w'll
1270.
Cooper,
Nov.
and June 30,
may
process)
Benton
of
defer
to
.cater to
be
act on
2,145,167
A
Unfortunately our regular products have no defense use,
raw
Philadelphia Rapid Transit Co.—Bonds Called—
(
the
part:
war
the proposed transaction
> / .
.
.
r &w; <
for Dec.
bn
announced
rumor,
.
proposed increase in the authorized capital stock so that the company
would be in position to provide for at least a portion of its capital
requirements through stock financing has been rescinded
and a
meeting has been called for the same purposes Jan. 31, 1942.
President Liversidge1 says- the board • at a meeting Dec.
1 adopted
resolutions
recommending certain preferences, rights and privileges
with
respect to
the preferred and common stocks which will be
presented at the special meeting of stockholders Jan. 31. Stockholders
at that meeting will determine the preferences, rights and privileges
•of
to
of the Foreign Exchange Control Board.
1
Sales
Meeting Date Changed—
;l: A
submitted
has
paid each, quarter on the common stock, par $1, from March
1940, to and including Sept. 2, 1941.
President
J. W. Leighton, in a letter to
the shareholders, stated
in
,
be
voting and other rights of the common stockholders.
competitive bidding rule. '•/
the
directors
is
time
1,
are to be
The
1942-.
1940
$3,586,235
other expenses——T-
common
have been
' .>'
.
.
funds for such redemption
provided from the company's treasury or from bank loans.
Incidental to the issue of the new preferred stock/there
Feb.,1,
on
5 certain changes in
<
pari
It
The company proposes to issue interim receipts to holders of its
outstanding $5 preferred stock who accept the exchange offer and in
the event that the new preferred stock is not authorized, holders of
such receipts will be entitled to receive $110 a share plus an amount
redeemed
'
!
„
Shares of the outstanding $5
;
($100
1941
2,312,858
Sept. 30—
profit subject to inc. & exc. profits taxes
154, p.
for each
$5
by amendment.' -
in
'
stock
-
—
Net
Pressed Metals of America, Inc.—Dividend Deferred—
cumulative preferred stock (no par), on a share for
The dividend rate on the new preferred is to be furnished
outstanding
■
Power
County Public Utility District, which have been author¬
by voters to acquire of build electric systems,
Feb.
on
Dec. 2, has filed . an application and
70-451);. regarding the proposed issuance of 280,058
(File
Co.—Bonneville
Electric
-
Distributions
Company, the SEC announced
.declaration
1103.
154, p.
Operating income
charges
for
depreciation
the Clark
approval
"
,
'
on
Nov. 28.
record
'
revenue
Fixed
Administrator, said, but provides, for a continuation of negotiations for
a longer term contract—V. 154,
p. 1057.
Philadelphia Electric Co.—Exchange Proposal Filed—
t
3.
15,
each
$3,800,894
9 Months Ended
per share on the nq par value common stock, payable Feb. 2, 1942,
.■Sand the regular quarterly dividends of 75 cents per share on the 6%
cumulative preferred and 6 % non-cumulative preferred stocks, payable
'Jan. 15, 1942, all to holders of record Dec. 31, 1941; subject to the
.
share has been declared on the common
per
1940—V.
Operation, taxes and
A
Jan. 1 to holders of record Dec.
share paid on July 1 and Oct.
payable
50
60
154,
Power Corp. of Canada, Ltd.—15-Cent Common Div.—
Perfect Circle Co.—Larger Dividend—,
.'
•
General
Bonneville""Power Administration
The
5
cumulative—V.
are
The proposed contract would run for a period of one year and could
be renewed
for an additional year at the option of the company.
The agreement is only for temporary service, Paul J. Raver, Bonneville
1006.'
p.
stocks
short-term contract providing for delivery to the company of upwards
of 45,000 kilowatts of Columbia River Power.
The agreement would force the company to sell its distribution lines
in Woodburn, Ore., and Clark County, Wash., to the city of Woodburn
ized
and
these
Dividends on
a
•;
(J. C.) Penny Co.—Extra Distribution—
,
Dec.
Sept.
Raymond Concrete Pile Co.—Special Dividend—
Portland
2952.
P.
and
cents
15,
June 15,
—V.
ap-
V.
16
20
963.
p.
Offer—
of
•
compares
Provision
cumulative
preferred
business Nov. 28, 1941.
City
holders of
15 to
Sept.
430,167
$81,283
——
1941.
June
on
-
record
last, a distribution of 25 cents per share was made,
with 15 cents per share each quarter from Sept. 16,
1940, to and including June 16, 1941, and 25 cents each on March 15
con-
1,774
15,
of
of 25 cents per share has been declared on
stock, par $10, payable Dec. 24 to holders of record Dec.
cents per share, previously declared, is payable
.
Agent—Registrars—
Chase
made
were
•
-
cents per share on the
holders
to
dividend of 45
unpaid to Oct. 31, 1941, amounted to
$3,211,467. : Latest dividends, amounting to $0.87 a share on 7% pre¬
ferred stock and $0.75 a share on 6%
preferred stock, were paid on
Restric-
poin ted transfer agent for the $1.25 cumulative convertible; preferred
stock and registrar for the common stock.
The
Manufacturers'Trust
Co.
has
been
appointed registrar for
each
cents
16
Quebec Power Co.—Earnings—
$38,225
income
♦Dividends
20
Dec.
year-end dividend
the common
Gross
Net
of
dividend of 50
a
payable
29,514
deducts.
struction—Cr.
$10,
par
Quaker State Oil refining Co.—25-Cent Dividend—
A
revenues
income
Other
syndicate,
convertible
$0,95
275,000
which
:
Co.,
price, restrictions
stock
•
&
$1.79
1271.
446,677'
22,917
March
tions Removed—
.
104, p.
against 50 cents on Dec. 16, 1940, and
June 15 and Sept. 16, 1940,—V. 152, p. 3357..
22,917
investments
♦Dividends
.
1941
•;■/' • 1940'^'./
$10,045,304
$6,700,000
,
,
as
12.
Other
stock,
Distributions
Amortization of limited-
suit have
Corp.—Price
'.
stock
common
The directors have declared
last,
35,118
appropriations.
Balance deficit
Airlines
154, p. 863)—V. 154, p. 1102, 1270.
;•
share of
per
common
(excluding
profits)__
excess
$3,608,578
$271,037
Property retirement re¬
368.
Pennsylvania-Central
(See also V.
Pyrene Mfg. Co.—50-Cent Dividend—
1941—12 Mos—1940
1941—Month—1940
$315,524
____
Operating expenses, ex¬
cluding direct taxes..
.Prov. for Fed. inc. taxes
9 to holders of record Dec. 5.
24. April 24, and Nov. 12, last,
March
on
Dec.
p.
of
incsome
*After
A like amount was paid
as compared with $2 on
and Oct. 24, 1940—V. 154,
.payable Dec.
first
Pure Oil Co. (& Subs.)— Earnings—
Earnings
share has been declared on the common stock,
per
company
$10,000,000
■
Patchogue Plymouth Mills Corp.—$1 Dividend—
A
of
of -Vk'fc
sell
Portland Gas & Coke Co.—Earnings-
•
.
<
'
9 Mos. End. Sept.30—
The Warner action charges the defendants mis¬
unlawfully caused to be paid to "an individual or
$100,000 and caused records to be altered so as
conceal
.to
to
through the merger.
•Net
"Chronicle," Dec. 4, p. 1325—V. 154, p. 1304.
least
at
'
to
sell
through
competitive
bidding
mortgage bonds, series D, due 1971, and
serial debentures or borrow from banks
and insurance companies. Proceeds of these, issues would be used to
or
redeem
retire
securities
of
the other corporations taken over
.
individuals"
1944.
application
either
stock.
See
Pictures, Inc., were named defendants Now 26 in suits brought
by stockholders of the respective companies, on behalf of themselves
'and the. corporations, for an accounting and damages tor alleged losses
through payments made to labor leaders to'avert strikes.
In the Paramount action the plaintiffs do not state the amount of
sought.
appropriated and
,
Redemption of the Northern Indiana and Terre Haute securities is
part of a refunding program contemplated by Public Service Co. of
Indiana, Inc.
At the Same time the SEC called a public hearing for Dec. r 3 on
one share of
class B 7% pre¬
Registers With SEC—
,
•Bros.
'damages
•
r
and
share of the old
one
'
1,
.pledged,
so
of the issue, together with treasury funds, will be used
$10,038,000 of assumed Northern Indiana Power Co. first
bonds, 4%%, series A, due Jan. 1,
1965,
and $3,739,000
Haute
Electric
Co.
Inc., first mortgage 5 %
bonds,
due
$42,000,000
stock will not
12, the record
they exchange their shares after Dec.
of the dividend to them, will be
5%%
to
the
time
5
Terre
May
all prior preferred stock issued
preferred
payment
the
A 5%
initial
an
Feb. 28, 1942, will be paid.
resolution holders of the old 7% preferred
penalized
date,
the
Other
Paramount
of
Nov.
of bonds now
'
for
Under this
Stockholders' Suits—
directors
5%%
exchange
the common
share, together with the regular quarterly
1st pref. stock and 15c on the 2nd pref. stock,
and
directors
the
in
•
Officers
869.
p.
792,083
due
•
holders of record Dec. 12.
•
•
1—
Nov. 27 was given permission by the SEC to 'Issue
of 1st mtge, 3%% bonds, series C, dated Nov. 1, 1941;
1, 1971. It is proposed to sell $13,200,000 of the bonds to
insurance companies at 105 and int., the balance, ($538,000)
pledged with the Federal Government In lieu of a like amount
$13,738,000
of
11, 1941 and
preferred stockholders of record on Dec. 12, 1941. On Oct. 1, last, a
dividend of 25 cents per share was also paid on the common stock,
as compared with 20 cents on April 1 and July 1, last, and 15 cents
per share on July 1, Oct. 1 and Dec. 24, 1940, and on July 15, 1939.
The directors also authorized the redemption on Feb. 3, 1942 of all
outstanding 2nd pref. stock at the redemption price of $10.06 a share,
The outstanding scrip for 2nd pref. stock was also called for redemp¬
tion on Feb. 3, 1942 at a rate proportionate to the redemption price
of $10.06.
The 2nd pref. stock is convertible on or before Jan. 20,
,1942, but pot thereafter, into common stock on the basis of nine
^shares of common stock for each 10 shares of 2nd pref. stock. There
are presently outstanding 4X2,200 shares of 2nd pref. stock, including
'scrip, and in addition the company holds 22,600 snares in its treasury.
i>t
154,
income..
$2,353,870
Pittsburgh Steel Co.—Initial Preferred Dividend—
27, 1941, to common stockholders of record on Dec.
•Dec.
from
Gross
—V,
railway...
exchange offer expires
on
Company on
1938
589,143
ry.
From
i
Stock—
Preferred
Second
1939
408,503
Net
(i.
Public Service Co. Of Indiana, Inc.—To Sell
$13,200,000 3%% Bonds Privately—Will Use Funds To Redeem
Securities of Companies Acquired Through Merger•
-Earnings—
/••/■;/ 1940
$2,954,617
799.
p.
engine,
in the
$1,634,067
406,335
391,047
from
-
Common Dividend
Paramount Pictures, Inc.—25-Cent
•—To
was
$2,290,481
585,529
on
•
railway—
Net
v.
,
Trainer
a
1941
from
Cub
152, p. 436.
October-
of the largest
independent
operating companies
in
the mid-continent area,
were
entering into a contract to sell their stock to the Pan Oil Co. (Del.).
King is Piesident of King Oil 00,
The Wichita Falls "Times" said it learned the consideration was
.about $7,500,000, representing the largest transaction in recent years
iin this district,
.,
I",
,
King sa;d he understood the Pan Oil Co. proposed to contract with
Phillips Petroleum Co. to operate the properties.
:;4
The last financial statement of King Oil showed the company, had
725 producing wells and 15,715 acres of producing leases.
John A. Bell, Jr., Pittsburgh, Pa., is President of the Pan Oil Co.
he
said
in
Pittsburgh & Lake Erie RR.
•
10,000th
the
of
Lycoming 65 hp. engine.
The
Piper Cruiser, was installed
5,000th
Haven,
'
The distribution, in cash,, wjll
represent. 4 % of net wages and
salaries for all employees receiving not more than $3,000 a
year and in
service since July 1. It will be paid soon after Dec. 31—V.
154,
potential
a
*
year,
production
'1383
Current Cub production at- the greatly1 enlarged 'Piper
Gamble Co.—Bonus To Employees—
announced
that
approximately
8,000
employees
throughout the United States and Canada will share a $500,000 bonus.
■'The
'
company
;Ryan
% The
the
Consolidated
directors
common
have
stock,
Petroleum
declared
a
payable Dec.
dividend
23
Corp.—10-Cent
of
10
to holders of
cents
per
Div.—
share
record Dec.
10.
on
A
151,
and on Dec. 27, 1939.—V.
paid on Dec. 28, 1940,
amount was
like
York milk shed, Mr. Andre added.
"When all .the facts are known, I am
—V.
there will be no justifi¬
sure
Rutland RR—Earnings-
from
Net
ry.
oper.
From
Jan.
Net
73,561
*21,976
"18,108
49,390
*52,380
2,867,835
purchased
276,868
2,429,268
*199,184
Power
2,968,995
209,213
Water
rentals
*500,039
Taxes
*66,153
53,398
231,931
Income
oper.
ry.
$268,269
"Deficit.—V. 154,
Gross
revenue
Resumes
Mountain & Pacific Co.
holders
record
of
Dec.
1938, regular quar¬
including Dec. 31,
to and
dividends of $1.25 per share were paid on the preferred stock.
Dec. 31, 1938, a distribution of 25 cents per share was made
common
stock.
No further payments have been made on
either issue to date.—V. 154, p. 662.
terly
Also
on
the
on
Net
oper.
the
1,019,979
652,572
Net
ry.
13,633,251
railway
from
Net
48,669,841
railway
10,425,554
income—
oper.
37,869,994
5,906,146
2,825,483
,900,154
,994,231
625,962
Net
3,940,634
income-
1,641,049
14,269
oper.
ry.
income
Other
$4,793,561 $50,739,845 $39 ,369,027
36,476,978
32 ,595,558
3,402,120
10,677,485
3 ,475,756
1,100,508
146,468
216,472
13,965
$5,934,206
expenses-
operat.
—
July
due
1,
been called for redemp¬
of these bonds have
$75,000
same date at lOOVa and int.
will be made at the Continental Illinois National
trustee, Chicago, 111. or at the First National
West Bend, Wis. (For offering, see V. 145, p. 1114.)—V. 152,
the
tion on
Payment
Co.,
Trust
Total
12,049
$1,114,473 $10,893,957
5,845
97,500
$3,622,224
68,501
$1,643,269
$1,108,628 $10,796,457
$3,553,723
$1,655,319
income
income
from
Deduct,
—V.
154,
1151.
p.
St. Louis San Francisco &
Net
ry.
1938
$103,032
3,066
*27,351
"♦28,415
1,557,850
474,261
railway—.—
—
1,111,415
120,699
1,322,397
1,387,663
250.988
287,258
127,301
*202,274
*88,281
*92,080
oper.
ry.
the
1,029
common
South Carolina Insurance
12.
Dec.
Sales
The
operated during the comparable period a year ago
to include the Reeves operation.—V. 154, p. 964.
Scovill Manufacturing
directors
The
share
the
on
Net
Net
April 1, July 1 and Oct. 1,
1941
railway..
Net
ry.
oper.
From
Jan.
Net
from
$4,182,007
531,083
558,400
income—.
52,338,767
12,964,752
railway—
8,307,735
income—.
—V. 154, p. 1194.
Net
oper.
ry.
Securities Acceptance
on
the
common
of 37 Va
dend
have
directors
The
share
909,329
1938
$3,378,802
495,274
191,159
1939
$3,893,383
805,230
483,967
cents
39,138,438
6,649,200
2,768,002
an
Inc.,
Bridgeport,
cannot
Net
Conn.—
Net
—V.
use
the
thereof
State
by
prohibited
clusions
on
the
one
154, p.
total
A
its
without
would
or
The
of
incorporation
and the corporation. In the
Federal
Constitution.
the other theory,
the
Whether
we
result is
the
per
Dec.
base
our con¬
same; that the
1922,
them
of
$34,000
of
$38,393
$366,037
$343,455
first
by F. J. Andre, President of Sheffield.
declared that the Eastern Milk Producers
as
June
more
bonds,
series A,
1,
due Dec.
for
to
sale or
an
court
The
of
stockholder
which
in
affirmed
court
the
Francis
of
action
the
was
ruled
also
such
that
Chief
rtght.
a
ruling of the Appellate
et al against the
Bacon
M.
prevent the trustees from voting the
interest.—V. 151, p. 3902.
beneficial
shares in which they have a
,
payable Jan. 2 to holders of
Guaranty
and Sept.
16,
Standard Bleachery & Printing
.
Standard
the
1,
15-year
1942..
York
New
has
10.
2,
on
appointed
scrip
stock of
Dec. 15,
V. 154,
1194.
1941—Month—1940
Period Ended Oct. 31—
Operating
.Operation
and
Retire,
income
Net
—
deducts.—int.
Income
$1,939,554
$1,911,635
44
35,833
—
accruals
income
Gross
$150,990
$107,319
accruals
reserve
486,496
353,499
433,035
293,310
2,569
2,452
$151,034
$1,942,123
$1,914,087
35,833
430,000
430,000
$115,201
$1,512,123
$1,484,087
•
retire,
bef.
inc.
853,060
$143,152
income—net
Other
50,000
36,171
Drl,337
_
income-
oper.
2,024,174
43,283
taxes
Utility
2,224,976
271,307
excess
taxes
Other
$5,015,652
23,994
$144,489
■
$5,775,394
169,684
26,272
—
$430,838
229,504
77,659
—;
income
1941—12 Mos.—1940
$521,207
revenues*—-
689
1,239
9.724
9,156
$106,630
$113,961
$1,502,399
$1,474,931
__
--------
154,
p.
declared—
70,000
70,000
declared.—
i
1,075,954
1,338,953
1305.
Texas Pacific Coal & Oil Co.—Extra
on
been
Tampa Electric Co.—Earnings—
—V.
Co.—Bonds Called—
Co., as sucessor trustee, announces
that
5Va% mortgage bonds, series A, due Jan. 1, 1946,
company have been drawn by lot for redemption on
Payment will be made on or after that date upon sur¬
of
of
of
An
extra
common
dividend
stock,
par
of
Distributions
March
1,
of
10
Dividend—
cents per share has been declared
on
the
$10, payable Dec. 29, to holders of record Dec. 6.
cents each have been paid each quarter from
10
1937, to and including Dec.
1, 1941—V. 153, p. 564.
1940.—V. 154, p. 1305.
The Bank of the Manhattan
.Jan.
Co.
Trust
the issuance of scrip certificates for 4% preferred
Talon, Inc., in connection with the stock dividend payable
1941, to common stockholders of record Nov. 21, 1941.
See
reserve
Sons—Dividend Of 62^ Cents—
Appointed—
Talon, Inc.—Scrip Agent
The
agent for
p.
SEC
"Chronicle," Dec. 4, p.\1325.
record
have declared a dividend of 62 Vi
stock, payable Dec. 20 to holders
15
Swain Tobacco Co., Inc.—Registers With
(R. L.)
See
Dividend—
directors
$7,900
18 Vh years, these farmers have received over $37,their milk than they would have received at the
decision
The
profits
Cooperative
group.
During the past
000,000
Co.—Bonds Called—
cents per share
the
common
of record Dec.
Distributions of 50 cents each were made on June 10 and Sept.
last, as compared with $1.25 on Dec. 16, 1940, and 25 cents each
consisting of about 8,000 members in New York, Vermont
was formed by the farmers themselves in April,
that it would be impossible for one company to dominate
a
mortgage
share on the preferred stock,
31.—V. 154, p. 911.
Pennsylvania,
and
no
cannot deprive a
the opinion.
Maintenance
Chicago, 111.—V. 154, p. 1058.
(E. R.) Squibb &
Association,
and
$475,100
131,645
dividend of $1.50 per share on the
common stock, par $1, payable Dec. 24 to holders of record
Dec. 13.
This compares with 50 cents per share paid on March 31, June 30 and
Sept. 30, last; $1.50 on Dec. 24, 1940; 50 cents each on June 29 and
Sept. 30, 1940, and 30 cents on March 30, 1940.
The directors also declared the usual quarterly dividend
of $1.25
complaint by the Federal Trade Commission that company
dominated the Eastern Milk Producers Cooperative Association was
1
$583,430
217,393
The directors on Dec. 3 declared a
The
Dec.
$55,685
17,292
Square D Co.—To Pay $1.50 Common
consent. To deprive the corporation
to a confiscation of its property
amount
certificate
the
Nov. 19
appraisal of the
action the other owners of
rights to
their
matter what
corporation may take.
holdings,
trustees
Gross
^Sheffield Farms Co., Inc.—Denies FTC Complaint—
Andre
$1,201,542
726,442
.
208 South La Salle St.,
The
Mr.
$1,462,661
879,231
3,000
1960, have been called for redemption.Dec. 31 at 105% and int.
Pay¬
ment will be made at the City National Bank & Trust Co.,
trustee,
corporation cannot be affected by the Credit Union Act."
denied
income
870.
$133,314
77,629
Southwestern Light & Power
question of impair¬
is the contract
certificate the corpor¬
ation contracted with the State for the use of its name. To restrain.
it from the use thereof would amount to an impairment of contract
contract.
of
between the
taxes
oper.
$1,204,542
applied to this corporation. It seems to me that the
divested
of
Fed.
■without compensation.
"There is also involved herein the constitutional
ment
revenues
oper.
Operating
had acquired in its name a property right of which it
be
of
their
of
corporation,
a
Susquehanna Silk Mills. A reorganization of the corporation was con¬
firmed by the Federal District Court.
Stock issued
pursuant to the plan of reorganization was issued
to voting trustees who voted all the stock issued and outstanding in
favor of a sale and conveyance of the assets.
The petitioners objected
to the sale of the assets of the corporation and tried unsuccessfully
1941—10 Mos.—1940
$1,467,361
4,700
$56,170
23,103
Operating revenues
Operating expenses ___
enacted in 1939, the Attorney General said
to the State Banking Department:
inclined to agree with the corporation's counsel that Section
corporation
at Albany, N, Y. ruled unanimously
a corporation cannot be deprived on
Appeals
stock in
of
Mills—Stockholders Upheld—
Silk
of
of
voting
share on
cents per
911.
p.
of
stock
the
five
Judge Lehman wrote
Co.—Earnings—
$152,742
96,572
31—
1941—Month—1940
$153,342
$133,614
600
300
$33,067
Oct.
Ended
revenues —
Uncollectible oper. rev._
question was
opinion addressed
cannot be
1179e
is appealing from decisions
company
Period
in
am
Y.,
O.
<
Operating
any
"I
certificates.
Southwestern Associated Telephone
declared a quarterly dividend of 20 cents per
stock, par $4, and the regular quarterly divi¬
share on the 6cumulative preferred stock,
Union,
Court
holders
value
Corp.—Smaller Dividend—
commercial corporation.
Pointing out that the corporation has been in existence for 17 years
and has used the same name throughout the entire period, while the
in
End M. & O. Payments—
went
of the lower courts hold¬
the trust certificates. Pending
Southern has deposited in a
special bank account a sum sufficient to cover the $4 annual dividend,
plus interest, on the stock trust certificates.—V. 154, p. 1305.
General Francis A. Pallotti of Connecticut ruled Nov. 24
that the Company may continue to use this name despite a state
statute forbidding the use of the words "credit union" in the title
statute
Act
154,
before the Court of Appeals at Albany, N.
1, asking judicial permission to discontinue payments on M. &
The
Attorney
of
2,703,534
increase in taxes
October includes one-fourth of the
ing it liable for continued payments on
legal determination of the case,
Retain Name—
To
325,453
$3,683,600
2,941,542
of
dividend
final
per
Credit
&
$3,482,414
a
payable Dec. 27 to holders of record Dec. 12. On
distribution of 10 cents per share was made; none
a
Susquehanna
The
that
Division
company
trust
payable Dec. 24 to holders of record Dec. 10. From
Dec. 24, 1939, to and incl. Oct. 1, 1941, quarterly distributions of 25
cents per share were made on the common stock, as compared with 20
cents in preceding quarters.—V. 154, p. 1151.
Security
*1,687,676
(Del.)—Five-Cent Dividend—
declared
have
154,
since.—V.
1194.
p.
1940,
28,
the common
Distributions
20, 1939; none
stock,
common
Dec.
has been declared on
cents per share
Oil Corp.
directors
The
the
$5,371,276
3,081,215
1007.
Dec.
both
$25,
par
$6,563,629
eight months of year imposed by Second Revenue
1940—accumulated figure includes one-half the increase.—V.
Southern Railway—Seeks To
32,715,074
4,511,630
907,718
35,987,329
5,910,876
2,193,040
1941—10 Mos.—1940
$18,981,199 $16,908,785
41,500
23,000
first
the
The
1—
railway-
from
Gross
11940
$5,760,922
1,021,197
railway.
from
from
$399,407
270,122
"Tax accrual for
p.
$349,987
income
oper.
income
Net
21, 1941, and 25 cents in each
of
October-
$606,796
*207,389
154,
Superior
$1,782,054 $18,939,699 $16,885,785
1,175,258 12,376,070 11,514,509
304,098
per
liquidation
Seaboard Air Line Ry.—Earnings—
Net
since.—V.
$654,085
revenues
oper.
Operating taxes
which recently offered
Dec. 20 to holders of record Dec. 10.
share were made on Aug. 20 and Nov.
payable
cents
25
Co.—Earnings—
$1,983,186
1,329,101
Oct. 31—
Terminated—
(Calif.)—Syndicate
Co.
debentures has been terminated.
50
of
dividend
stock,
of
Operating revenues—
Operating expenses
have been adjusted
Oil
syndicate headed by Dillon Read & Co.,
The
$15,000,000 3Vz%
Resumes Dividend—
Acquire Assets
466.
1941—Month—1940
$1,986,186 $1,784,554
3,000
2,500
for
Gross
p.
revenues
Uncollectible oper. rev.
Ended
Operating
preceding quarters.—V. 152, p. 3513.
three
144,
Co.—V.
Thermoid
Period
from the
the four
of stores
28 declared a cash dividend of 50 cents per
stock, par $25, payable Dec. 23 to holders of
last, as compared with 75 cents on Dec.
of the
and became
subscribed
the com¬
90 cents per share was
preceding quarters.
A year-end dividend of
paid on Dec. 23, 1940.—V. 154, p. 1305.
also
1190.
Asbestos Co.—Thermoid To
Southern New England Telephone
Co.—50-Cent Dividend—
A like amount was paid on
10.
record Dec.
1939
12,
Aug.
stopped selling the stock.—V. 149, p.
See
Nov.
on
common
quarterly dividend of 25 cents per share has also been
15 to holders of record Jan. 3.
Regular quarterly distributions of 25 cents per share were made
on
April 15, July 15 and Oct. 15, as against 12'/2 cents per share in
A
1941—4 Weeks—1940
1941—48 Weeks—1940
$41,000,670 $31,130,755 $428,534,354 $369,546,879
sales of 84 stores acquired Oct. 6, 1941,
National Grocery Co., have been included in the figures for
weeks ended Nov. 22, 1941.
The sales figures and number
filed
was
About $117,000 of the offering was
before the SEC proceedings were instituted, at which time
pany
common
payable Jan.
declared,
Superior
statement
1939.
5,
Nov.
Southern
and
Inc.,
statement contained untrue
that the prospectus also was
the
on
a
The usual
13.
an
the registration
omitted material facts and
registration
effective
operation this year totaled 2,991 against 3,058 a year ago.
Sales of stores acquired in August, 1941, in the merger with Daniel
Reeves,
issued
28
Nov.
deficient.
in
Stores
common stock.
SEC asserted that
statements,
-:>y
" ;■■■■
Period End. Nov. 22—
par
The
declared an extra dividend of 50
Commission
Exchange
&
year-end dividend of 50 cents per
stock, payable Dec. 23 to solders of record Dec.
declared
have
directors
share
Co.—Stop Order—
order
suspending the effectiveness of a registration statement by company
covering 10,000 shares of $20 preferred stock and 10,000 shares of
Securities
Dividend—
Superheater Co.—To Pay 50-Cent
The
Southeastern Industrial Loan
The
Div. Of 50-Cents—Sales—
cents and
the regular quarterly dividend of 75 cents per share on the common
stock, both payable Dec. 22 to holders of record Dec. 12.
An extra
of like amount was paid on Dec. 20, 1940.
The last regular quarterly
common dividend of 75 cents was paid on Oct. 1, 1941.
The directors also declared the usual quarterly dividend of $1.25
per share
on the 5%
preferred stock, payable Jan. 1 to holders of
2
Dec.
directors on
record
Co.—Registers With SEC—
"Chronicle," Dec. 4, p. 1325.
See
no
Safeway Stores, Inc.—Extra
The
153, p. 1103.
—V.
$120,144
9,689
*23,940
income—
"Deficit.—V. 154, p. 870.
Net
payable Dec. 22 to holders of record Dec. 5.
A like
June 25 and Sept. 25, last.
make a total ol 20 cents per share on
stock for the year 1941, the same as paid during 1940.
$1,
par
aggregate of the assigned value
the
•
railway
from
Net
1—
Jan.
from
Gross
1939
$109,114
income—
oper.
From
1940
21,229
railway
from
Texas Ry. —Earnings—
1941
$169,354
55,447
railway
from
Net
ended Oct. 31. 1941, exceed vy $1,188,($34.333355 per share) of the
capital stock to be issued in payment of this stock dividend and the
cash
dividends disbursed during such period, but are less than th«f
sum of the value of such stock issued as a dividend calculated at the
market price on date of declaration plus dividends paid in cash.
The
issue of the
present stock dividend increases the number of shares
of common stock outstanding to 2,850,884 and a tale by a stockholder
of the common stock received as a dividend will reduce such stock¬
holder's then proportionate equity in the company.—V. 153, p. 850.
amount was paid on March 25,
The current distribution will
October—
Gross
stock,
!
stock.
the
Earnings for the ten months
has been declared on the common
dividend of five cents per share
A
258,089
rate of $34.333355 per share. Company has no capital
this is the full amount of the stated value per share
at the
surplus, and
of
Dividend—
Sonotone Corp.—Five-Cent
etc.
terest,
Exchange
of
1941,
29,
pany
Bank &
Bank of
p. 4138.
000
avail, for in¬
Balance
1, 1942,
been called for redemption on Jan.
have
1949,
additional
Stock
York
New
Dec.
par) on official notice
of 10 shares per 100 shares
(no
at 100 and int.
An
stock,
share has been declared on the common
per
has authorized the listing on or
additional shares of common stock
of issuance, as a stock dividend (at rate
held, payable Dec. 29 to holders of record
Dec. 8) making the total amount applied for 2,869,750 shares.
Stock,
when issued, will be charged against the earned surplus of the com¬
The
after
collat. trust bonds, series A,
of 1st & ref. mtge.
of $25,000
Dividend—
Sun Oil Co.—Listing, etc.—
of Charity of
total
4142.
p.
548.
p.
Cincinnati, Ohio (Good Samar¬
Hospital and Seton High School)—Bonds Called—
itan
A
1941—10 Mos,—1940
1941—Month—1940
Period End. Oct. 31—
Total
common
Sisters
Earnings of System
Total operat. revenues-
A dividend of $1
compares
1—.
from
per
payable Dec. 20 to holders of record Dec. 10, A like amount was
paid on Sept. 20, last, as compared with 75 cents on March 20
and June 20, last, 50 cents on Dec. 28, 1940, $1 on Sept. 20 and
Dec. 20, 1940, and 50 cents on March 20 and June 20, 1940.
A 50%
stock distribution was also made on Nov. 5, 1941.—V. 154,
Dividend—
directors
902,560
cents
50
Sundstrand Machine Tool Co.—$1
have declared a dividend of 60 cents per share on
stock, payable Dec. 19 to holders of record Dec. 5.
This
with 40 cents paid on July 21, last; 75 cents on Dec. 20,
1940, and 25 cents on Juiy 16, 1940.—V. 154, p. 800.
\
The
$4 ,155,027
of
1 and Dec. 1, 1937; one since.—V. 150,
Sept.
1938
1939
$4,583,798
1,235,226
37,831,199
6,567,462
3,616,557
1,597,855
income___
Jan.
ry.
From
Gross
1,914,724
railway
at 100Vz
$4,633,318
1,369,943
1,113,874
$5,706,105
railway
from
from
Net
outstanding
the
Co.—50-Cent Com¬
share has been declared on the common
stock, payable Dec, 24 to holders of record Nov. 29.
Distributions of
12l/2 cents per share were paid on this issue on March 1, June 1,
$3,000,000 of 7-year 3%% collateral trust
15, 1946, have been called for redemption as of Dec. 30,
and int. Payment will be made at the principal office
of The Royal Bank of Canada in Montreal or in Toronto, Canada.
The notes may be converted at any time before Dec. 30 into com¬
mon stock on the basis of one share of stock for each $30 in principal
amount of notes.—V. 154, p. 662.
'•
■'
of
All
with
last,
1940
Dividend—
dividend
A
notes due Nov.
next,
declared on the common stock,
Dec.
Stromberg-Carlson Telephone Mfg.
mon
Shell Union Oil Corp.—Larger
1940
1941
October—
Gross
dividend of $1 per share has been
15 to holders of record Nov. 26. This compares
60 cents per share paid on March 31, June 30 and Sept. 30,
$1 paid on Dec. 18, 1940, 60 cents on June 30 and Sept. 30,
and 40 cents on March 30, 1940.—V. 152, p. 2085.
$2,334,706
$3,155,860
Dividend Of $1—
Stanley Works—To Pay
A
payable
To Rtire Notes—
Ry.—Earnings-
St. Louis-San Francisco
depreciation
for
profit subject to inc. & exc. profits taxes
Net
a
8.
1936,
March 31,
From
Exchange
Provision
dividend of $5 per share on the 5%
non-cumulative preferred stock, par $100, and a dividend of 50 cents
per
share on the common stock, par $10, both payable Dec. 23 to
directors have declared
for
154,
&
1305.
p.
2,893,129
201,069
1,350,000
2,826,364
198,2855
1,500,000
charges
the
$6,778,904
$7,680,508
Operating income
Dividends—
The
...
-
Fixed
St. Louis, Rocky
the
29,
157,905,000 kwh. as compared with 136,986,000 kwh.
corresponding week last year, an increase of 15.3%.—V.
Gas
totaled
1941,
1940
$14,380,855 $12,150,710
and maintenance expenses2,967,358
2,652,878
2,550,889
1,533,467
353,346
362,224
828,753
823,237
operating
Output—
of the public utility operating companies in
Electric Co. system for the week ended Nov.
output
Standard
1S41
Ended Sept. 30—
9 Months
1103.
p.
Co.—Earnings—
Shawinigan Water & Power
General,
1—
railway
from
$333,965
income—
railway
from
Gross
Net
1938
3,171,569
402,772
railway
Net
1939
25,303
railway
from
Gross
1940
$309,677
25,773
department.
bank's corporate trust
the
1055.
p.
Electric
1941
$335,220
41,535
October—
bonds drawn at
the
132,
Standard Gas & Electric Co.—Weekly
1931.
complaint," he said,—V. 152, p.
this
for
cation
of
render
In the
New
3900.
p.
largest milk producer cooperative
the
by
announced
prices
Saturday, December 6, 1941
FINANCIAL CHRONICLE
THE COMMERCIAL &
1384
Thermoid
Co.—Proposes
Proposed Acquisition—
Stockholders
creation of
is to
set up
a
To
Form
Welfare
Trust—
■'£
special meeting Dec. 12, will vote upon the
Thermoid Co. Welfare Trust, under which the company
at
a
and pay into a trust fund a sum not to exceed $200,000
1385
1941, which shall ho subject to distribution by the
tor
J£i2i[ -'31*',i' 1047*'
tocforc
*
^
*
1
<
^^r ^>*v-
^
:
u>
,
trustees on or
,■,
<
.
i,.-
United
*■
>
Frank
trusts
The
;
meeting
amount
fair
will
to
be paid
thereof,
value
cost value of
mately
also
vote
on
Co.,
banks.
$425,000,
to acquire the fixed
the proxy statement the
all
stockholders
—v.
1152.
154, p.
,%;v
.--.v:
,
tions
equipment
purchase
notes
the
of
which,
company
1946.—V.
154,
1153.
p.
of
year-end
50
Dec.
Gas
Contracts
Corp.—Bond Contract
between
the
corporation
and
See
insurance
The
corporation is now awaiting the report
company's proposed refinancing pian, hearings
"Chronicle," Dec. 4, p. 1325.—V. 149, p. 3278, 4043.
over
dividend
A
of
$1.25
stock, payable Dec.
with $1 per share
including
V.
Sept.
Co.—$1.25 Dividend—
to
has
been
of
record
20,
'
Net
from
104,914
128,297
45,240
46,115
Net
from
2,362,811
railway-—-
1,979,201
1,883,600
987,810
railwayNet ry. oper. income—
—V. 154, p. 871.
694,661
282,534
& Williams
Transue
payable
■with
45
cents
per
each
14,
Oct.
10
and
Dec.
264,948
Gas
first
SEC
.
the report,
Dec.
on
debt
the
at
the
End.
Nov.
1941—4 Weeks—1940
29—
Dec.
year,
are
as
fol¬
kwh.; same week last
11,658,467 kwh., or 11.8%.—
110,490,535
operation
now
effect
of
Hearing
on
340.
plan provides
be
known
v
cents
28
.
of
holders
to
•
record
receive
sufficient
amount
The
Dec.
(1)
retire,
accrued
the
prices not in excess of the
all of its debentures.
Upon
will have as its remain¬
at
interest,
transactions,
Power
The
transactions
are
particularly
more
summarized
payable
sale
$1,256,600 of
first
lien
consolidated
and
1924, and the relase of the balance
of
the
certification
companies.
(2)
Dec.
20
unfunded
of
(The
mortgage bonds,
of the
additions
lien
first
to
cash
the
companies
5'/2%
Series
deposited against
so
properties
the
shares,
cents
41
cents per
cents on
Aug.
and
24
15
which
is an
initial distribution.
Corp.
Aircraft
United
Convertible Preferred
Competition—
special
a
vote
Plans $26,500,000 Of New
Prepare Itself For Post-War
made
to
the
war.
continue
for
.
ble
expected to continue
to
be
largely
belief is that
of
war
in
Europe.
new
a
"upon
stock,
time,
was
payable in cash.
the
At
in
the
:
par)
converti¬
same
of
tive
r
Details of the issue will be announced later.
meeting
authorized
stockholders
common
stock
will vote
from
on
&■
3,000,000
to
increase
proposed
preferred
clear
stock, payable Dec. 27 to holders
up all accruals on this issue.
Distributions of
75
cents each
March
Dec.
made
of
record
of
of
by
Iowa-Illinois,
to
Railways
of
53,250
first
Dec.
liabilities
on
and
Dec.
1939.—V.
2.
31,
1940;
1940.
154,
p.
A
payment
1104.
of
$6
per
share
"
was
made
on
Dec.
property, and assets and the assump¬
and contractual obligations of those companies
.
and
Iowa-Illinois of an indenture supplemental to
consolidated mortgage to evidence assumption of
•=
:■
declared
company
been
common
the
50-cent
preferred
dividend
common
a
paid April 30 to
stockholders
delayed as the result of
was
of
the first
on
order
stockholder
in
of
50
record
of
suit filed shortly
a
Federal
the
District
preferred stock before disbursements
which
was made Nov.
States
directors
a
new
series
of
bonds
to
be
issued
under
the
first
lien
and consolidated mortgage, as amended, to be known as first
mortgage bonds, 3,/4%
Series due 1971, and the redemption of the
$5,422,000 of 5%% first lien and consolidated mortgage bonds to be
of
Continental
The
purchase by
debentures
to
be
contributed
by
Power
to
against
The
cents
each
$1.50
directors
had
precluded ' payment
Sipelting, Refining
declared
1
Oct.
on
also
share
per
of record
two
excess
any part of its outstanding
of the principal amount thereof plus
A
cum.
Dec.
pref.
of
stock,
of
$1
Co.
share
v
—
per
on
<
and
U.
S.
10
Months
".
.
Ended' Oct." 31
1940
1939
$7,178,593
$6,001,290
2,122,179
2,089,864
2,113,805
1,143,329
838,104
631,500
$4,568,499
$4,250,625
$3,255,985
'
1938
'
"
1,364,848
1,364,848
1,364,848
1,364,848
$2,524,491
$3,203,651
$2,885,777
$4.77
$6.06
$1,891,137
$3.58
share—
per
•After
in
$3,889,339
taxes
—
fEarnings
each
$1
$7,834,007
dividends—
Balance
and
1,621,136
Jl,387,341
earnings—
Preferred
1940,
$6,897,816
reserves
for. inc.
&
Net
20,
•,
earnings
Property
Dec.
the
regular quarterly dividend Of 87Vi
preferred stock, payable Jan. 15 to holders
the 7%
on
22.
15
1941
deducting
•
$5.46
v
charges
all
except U. S. and foreign taxes on
fOn 528,765 common shares outstanding.
computed at 31%; no provision has been
income and property reserves.
S.
11941
U.
made
for
income
154,
Universal
The U.
S.
taxes
profits taxes,
p. 439.
excess
required.—V.
Oil
it
Products
being
believed
that
will
none
be
Co.—Investigation Ordered—
Circuit Court of Appeals at Philadelphia has ordered
handed down by their resigned
investigation of a decision
J, Warren Davis, in June,
an
colleague
1935,
in
favor of
Universal
Oil
Products
Co. in a patent litigation against the Root
Refining Co., to ascertain
if Davis committed any wrongdoing in rendering the decision.
The investigation was ordered as a result of a petition filed'last
June by
Skelly Oil Co. and seven other
refining
although not parties to the litigation, asserted
was
being used against them by Universal.
Universal
The
that
companies
the
("Wall
Davis
Street
Oct.
A
The
Oct.
on
declared
dividend
a
preferred stock,
23.
last.
1,
made
have
first
Dec.
who,
decision
Journal")..
Pictures, Co., Inc.—To Pay $2 Pref. Div.—
directors
cumulative
like
amount
previous
154,
p.
of
$2 per share
$100, payable Jan.
paid on this issue
par
was
payment,
1932.—V.
1,
Consolidated Earnings
sales, less discounts,
Operat. & sell, expenses
Net
operating
the
1
the
on
July
regular quarterly
8%
holders of
to
on
11
and
of $2,
was
250.
(& Subs.)—Earns.
for 9 Months Ended Sept.
30,
^
1941
returns and allowances—
$5,416,239
(including depreciation $170,250)
income
Other
income
S
5,195,363
„
Net
income
before
Net
taxes
income
•Earnings
$233,193
—
'
90,979
—_
$142,214
,
share
per
—•
•On 65,000 shares of common stock, no
Vega
12,317
—
Federal and State income taxes
for
$220,876
—_
(net)
Airplane
par.—V. 154,
Co.—Stockholders
Vote
•,
$2.18
p. 911.
$4.60
per
payable
share has been declared on the 6% non17 to holders of record Dec. 10. On
Dec.
-
.
„
Merger With
y
Lockheedof
Stockholders
the
Company Nov. 21 voted overwhelming approval
a plan for the merger of that company into the Lockheed Aircraft
Corp. The vote of Lockheed shareholders was postponed until Nov. 27
when shareholders voted approval.
of
(
Common
is
of Vega and Lockheed, it has been explained,
in order that the two companies and their shareholders
ownership
proposed
take full advantage of the closer cooperation which has developed
Lockheed and its affiliate as a result of exigencies of the
can
between
national
to
defense
Vega
the
program.
large
a
British
of the stock of Vega> and has subcontracted
the manufacture of Ventura bombers for
Vega also is in the process of tooling up
50.46%
for
order
Government,
■
for
production of the "Flying Fortress," huge four-motored, longbomber for the U. S. Army air forces. Lockheed is manufactur¬
ing the famous Hudson bombers and the P-38 "Lightning" interceptor-
range
pursuit planes for the British and the U.S.
•
Combined backlog of the two companies is in excess of
$647,000,000.
(See also Lockheed Aircraft Corp.)—V. 154, p. 800.
Victor Chemical
The
directors
the
on
capital
This
17.
Dec.
30
cents
on
Works—Larger Dividend—
Dec.
stock,
3
par
compares
declared
$5,
with
and
each
on
March
35 cents
1940,
27,
June
30,
dividend of
a
payable
35
cents
31
and
on Sept. 30,
1940,
1940.—V. 154, p. 912.
Dec.
27
June
and
45
30,
30
paid
last,
cents
cents
holders
to
share
per
45
on
of
on
record
Sept.
cents
each
share
per
on
30,
Dec.
March
30
Virginia Coal & Iron Co.—Bonds Called—
All
966.
dividend
Mining
&
dividends
-
The contribution by Power to Railways of cash remaining in
treasury of Power after the discharge of the liabilities of Power.
154, p.
.
dissolved.
was
1940.
declared
Consolidated Earnings for
"Gross
last,
Power of all or
debentures at prices not in
the
were
19, 1941.—V. 154, p. 1272,
Dec.
on
Lockheed owns
United Paperboard Co.—$4.60 Dividend on Pref. Stock
1,
the
on
With
15.
sought to enjoin the payment on the ground that the
earnings in 1935, 1936 and 1937 from which dividends
restraining
of
the
company)
■
...
the
have
to
January, April and July,
•
$6,000,000
—V.
1, last, on account of accumulations;
and 75 cents each on March 1, June 1, Sept. 2
$1.50
common stock, one payable on Dec. 24 and the other on Jan.
15,
both to holders of record Dec. 16.
A distribution of $1 per share was
made on this issue on Jan. 15, April 15, July 15 and Oct. 15, last, as
assumption
(14)
8.
of
the
lien
accrued interest.
on
preference stock:
closed.—V. 154,
the
Provision
execution by
lien
had
paid
be
The
additional
Railways.
;
stock
dividend
a
Utica & Mohawk Cotton Mills, Inc.
such
the
first
the
The
$607,500
'-r'1
the preferred
on
last
Newark,
United
stock for $20,700.
1, June 2, Sept. 1 and Dec.
$3
were
the
Co.—$1.50 Common Dividend—»
voted
3
■
dividend of $4.50 per share has been declared on the $3 cumula¬
will
common
acquisition of the business,
(13)
This
line
(11) The transfer by Power to Railways as a contribution to the
paid-in surplus of Railways of $479,000 of debentures and $298,800
prior preferred stock of Railways, $607,500 of debentures and $184,800
of preferred stock of Continental, all the outstanding common stock
of The United Light & Power Service Co. and certain miscellaneous
investments owned by Power.
(12) The purchase by Continental from Railways for $573,069 of the
United Chemicals, Inc.—Pays All Div. Accruals—
A
bus
h$sumed by Iowa-Illinois."
the
4,000,000 shares,
to provide for ultimate conversion of the new preferred stock. There
are now outstanding 2,656,691 common shares.—V.
154, p. 1272.
,
consolidated mort¬
(10) The sale by Iowa-Illinois to the public or institutional investors
which about 265,000 shares will be offered
most satisfactory means of adding to capital
and
also most in the interests of the stockholders.
The plan is to
offer the new shares on the basis of one preferred share for each 10
common
shares now outstanding,
the price of $100 a share to be
this
and
Ry. of Iowa of its interurban
mortgage.
of
($100
for
permanently
Declares Two Common Dividends—Earnings—
and
mortgage by lowa-IUinois; to specifically subject to the direct lien
of the mortgage the physical properties acquired by
Iowa-Illinois; to
provide for a new series of bonds; to conform the mortgage to the
trust
indenture act;
and to otherwise modify and modernize the
.
issue of 500,000 shares
been
for
issuance
of
the
self-
"carefully explored" the various alternatives for raising
the letter says that the conclusion reached was
of
5
was
Payment
on
Gross
stock
and
(9)
capital,
the creation
preferred
at
lien
City
by Iowa-Illinois.
of
After having
additional
that
first
Mason
the
are
Dec.
on
books
transfer
have
common.
On July 7 the court denied the application of
preferred stockholder, who then appealed to the U. S. Circuit
Court of Appeals at Philadelphia.
Last month the higher court decided in favor of the
company and
sub¬
of
issuance
time
the
tion
and planning for the peacetime marketing of
that United Aircraft must be provided with adequate
the repurchase of emergency plant facilities from the
outbreak
the
the
the
peaceful conditions, a considerably increased working
capital position will be required if the company is to utilize to the
fullest
profitable extent the expanded plant facilities" undertaken
since
the
securities
acquisition and the payment to Power of $13,by Iowa-Illinois of $16,000,000 principal
and consolidated mortgage bonds,
consisting of
$10,578,000 principal amount of 6%
bonds (non-callable until 1947)
and $5,422,000 principal amount of 5%%
bonds.
(8) The liquidation of UPM and the first lien companies, involving
•
signed by Mr. Rentschler and Eugene
financing during the present emergency. However,
return
The
common
at
research
Procurement contracts
the
of
to Railways of 207 shares of
amount
government.
...
lien
transfer by Tri-City
375,000
B.
but
aircraft,
funds
■.
Frederick
states that the company wishes to be prepared
of competition and development that will begin at the end
The management points out that not only is it necessary
the era
to
,.,^
stockholders,
the
the Board,
President,
Wilson,
of
the Chairman of
the
Inc.,
;%;■
the
(7) The acquisition by Iowa-Illinois from Power of all outstanding
securities and indebtedness of the first lien companies owned by Power
a
.
letter* to
A
E.
the
outstanding
shares of common stock.
in
on
Rentschler
for
from
all
by Iowa-Illinois to Railways of 80,000 shares of
$13,375,000, of which $8,000,000 will constitute
capital and $5,375,000 paid-in surplus.
(6) The acquisition by Iowa-Illinois from Railways of all the thenoutstanding securities and indebtedness of UPM owned by Railways
its
and
Co., according
Ripley &
The
(5)
15, 53 cents.—V. 154, p. 1153.
*
meeting
will
RR.
of
Iowa-Illinois.
of
East Hartford, Conn., late this month,
proposed offering of $26,500,000 in. new
convertible preferred stock to holders of common stock. The issue will
be underwritten by an investment banking group headed by Harriman,
At
stockholders
and
Nov. 19, 1941, this makes a total of $2 a share on the
1941.
The previous payment on this issue was made in
March
(4)
The transfer by Power to Railways, as a contribution to :'ts
paid-in surplus, of all the presently-outstanding common stock ($5,000)
—
To
26,
Lines,
1921.
record
company
UPS share, as against 57 cents on June 20, last.
follows? May 15, 46 cents, and on Nov.
%
Lake
release
interconnecting Muscatine, Davenport, and Clinton, Iowa; and the
acquisition thereof by Interurban Bus Co, and the issuance by that
30 cents per UCSA share, as compared with 35 cents on June 20, last.
21 cents per UCSB share, as compared with 12 cents on June 20, 1941.
On the UBA shares, distributions were made during the current year
as
The
(3)
against 44
as
15, last,
per UBC shares,
18
Dealings—
(no
first
wholly-owned
are
of
gage.
cents on Feb.
<
directors
in
and
follows:
as
by LaPorte of all its property and assets to non¬
affiliated interests; the liquidation of LaPorte; the deposit by Power
with the corporate trustee under the first lien and consolidated mort¬
gage
of all cash received on such liquidation; the application of a
portion of the cash so deposited to the purchase or redemption of
with 71 for last
3,
for
Curb
"V,,
common
for the acquisition by a new operating
Iowa-Illinois Gas & Electric Co., of
to
cash
plus
all
of
detailed
set forth
13:
Dec.
UBB
per
declared on
were
(Nev.)—Merger—
paid
ing assets the common stock of Railways and some cash and will have
outstanding only its preferred, class A and class B common stocks.
Funds, Inc.—Dividends Declared—
dividends
following
Nov.
States
:
dividend
the
as
and will become substituted as the mortgagor in place of
To finance this acquisition, Railways will acquire all the com¬
stock from lowa-IUinois. As a result of these transactions, Power
Clear
The
154,
Co.
stock, payable Dec. 22 to holders of record Dec.
Integration
16—
Power
will
1194.
Trusteed
originally for Dec. 22.—V.
Inc.
Trust
stock
York
on
United
p.
sidiaries of Power.)
Union
filed
was
of
an
the
to
principal
1941—48 Weeks—1940
compared
as
increase
an
16.
lien
in
stores
year.—V. 154, p.
24
consummation
$2,665,265 $31,132,372 $26,852,891
$2,831,165
—
73
are
1941,
last
week
application with respect to various proposed trans¬
summarized
below.
A hearing thereon
will be held by the
on
mon
15,
but this is not a fixed charge.-^-V. 147, p. 135.
—_
30
par) has been suspended from dealings
Exchange.
The certificate merging United
States Lines, Inc., into United States Lines Co., a Nevada corporation,
New
should
the
The Commission, by order entered on March 20,
1941, ordered among
other things the dissolution of United Light & Power Co. and also
by order entered on Aug. 5, 1941, ordered among other things the dis¬
position of the properties and assets of LaPorte Gas & Electric Co.
from its holding system.
of
Union Premier Food Stores, Inc.—Increased Sales—
Period
preference
the
on
Power.
Elliott Fisher Co.—Stock Offered—Blyth
Co., Inc., on Nov. 28, after the close of business offered
5,400 shares of common stock (no par) at a fixed price
of 33% net. Dealer's discount 70c.—V. 154, p. 1272.
Sales
week
same
for
phyrical assets of the directly owned operating subsidiaries (except
LaPorte) of United Light & Power Co. and United Power Manufactur¬
ing Co., a subsidiary of Railways. This new company will be owned
by Railways; it will assume the first lien consolidated mortgage bonds
Underwood
•%' There
29,
the
companies
the
&
„
Nov.
for
system
.
the second mortgage bonds will receive no
for the first time since 1936. according to
of
Holders
interest
extra
an
to allegations of
single integrated
Holding Company-
a
United States Lines, Inc.—Suspended From
The
the
Nov.
on
In
the 4% fixed interest on the publicly held $5,265,000
issue.
During that year, a considerable amount of
vacant since in the Fall of 1940, Hunter College vacated
time.
present
figures
kwh.>
Dec.
company,
the
income
the
ending
on
actions
1940.—
City—Report-
large quarters which it had in the building.
There are no arrears of taxes or fixed charges on
reply
than
has
been
appointed Registrar
1,500,000 shs. of $10 par value preferred stock.—V. 154, p. 60.
company
Co.—Weekly Output—
UGI
Iowa City Light & Power Co., Ottumwa Gas Co., Moline-Rock
Manufacturing Co., Peoples Light Co., Peoples Power Co., TriCity Railway Co. of 111., and Tri-City Ry. Co. of Iowa filed with the
pay
was
and
the
for
Co.,
mortgage
space
output
Island
the latest fiscal year, without this large tenant, the earn¬
the property were approximately equivalent to the amount
ings of
required to
Lines,
a
The
966.
p.
port & Clinton Bus Co., Iowa-Illinois Gas & Electric Co. United Power
Manufacturing Co., Cedar Rapids Gas Co., Fort Dodge Gas & Electric
According to the latest report prepared by Amott, Baker & Co., Inc.,
occupancy of the property is practically 100%.
Since the close of the
last fiscal year on Aug. 31, both the national and regional head¬
quarters of the HOLC have moved into the property.
During
allowed
in
J.
price of 99%.
a
United Light & Power Co., United Light &
Railways, Continental
& Electric Corp., La Porte Gas & Electric
Co., Muscatine, Daven¬
SEC
Two Park Ave. BIdg., N. Y.
States
Manufacturers
N.
the- insurance
The
30,
United
The
by
of
were
154, p. 1272.
579,251
Steel Forging Co.—75-Cent Div.
March
on
scheduled
was
United States Lines Co.
See
at
extension
United Light & Power Co.
20
last, and 15 cents
V. 154, p.,. 1104.
the
on
been
briefs
1195.
p.
Payment
declared on the common
to holders of record Dec. 13. This compares
share paid on Sept. 15, last, 30 cents on June 14,
Dec.
SEC
1.
have
file
Utility
postponed until Jan. 12 the public hearing
also
declaration
week
V.
A dividend of 75 cents per share has been
.
slock,
SEC
which
after
electric
Plan
268,900
as
The
question,
Court
two-month
buy the bonds at
this year.—V. 154,
closed
1.820,610
•
646,331
342,700
from
1935.
16.
98,832,068
69,141
ry. oper. income—
From Jan. 1—
Gross
Feb.
114,910
45,726
railway
Net
utility
of
the
on
which
year,
1938
$240,093
135,850
collateral
which
%
911.
p.
Corp.—Inquiry Extended-
to
system constitutes more
defined under the Public
companies'
original offer expired
third
lows:
1939
;
public
Act
the
On
the
United Gas Improvement
just
$271,646
the
1938.—V. 154,
The plaintiff
RR.—Earnings—
1940
that
cents
to
The
$220,228
railway
SEC
which
April
1
to and
1940.—
1941
from
of
on
May 28,
on
subsidiaries
in
is
offer
compares
$276,212
October-
Utilities
its
held
Aug,
common
This
i''"
Toledo Peoria & Western
Gross
the
on
10.
Dec.
Public
period of several months before the SEC.
a
This
quarter from June 20, 1940,
with .25 cents on March 20,
paid each
1941, and
154, p. 758.
declared
share
holders
per
20
the
The
companies
the purchase of $75,000,000 first mortgage and
trust 3V4% bonds of the corporation have been extended to
Co.—Registers With SEC—
Tiniken-Detroit Axle
United
Extended—
14
per share was made on this issue,
July 11, 1940. The previous payment
on
share
United States Rubber
United
covering
Time Finance
of $4
$3 per
was
corporation and
days from Nov. 30
on
May
On
dividend of $1.25 per share has been declared on the
common stock, payable Dec. 20 to holders of record Dec. 5.
This com¬
pares with 75 cents paid on Aug. 25, last; 50 cents on May 31, 1941;
$1 on Dec. 20, 1940; 50 cents on Aug. 15, 1940; $1 on Dec. 20, 1939;
and 50 cents on Aug. 15, 1939.—V. 154, p. 260.
A
Chase
cents each were made
during the current year on March
13, Aug. 12 and Nov. 18.
24, 1940, a year-end dividend of $2 per share was paid on
the common stock, which made total
payments for that year $4 per
share.—V. 154, p. 260.
10,
,
agreement dated June
the additional amount,
distribution
a
stock
Manhattan
year-end dividend of $1 per share has been declared on the com¬
stock, payable Dec. 23 to holders of record Dec. 12.
Distribu¬
mon
Co.—$1.25 Year-End Dividend—
Thew Shovel
the
1,
A
the proxy adds,
corporation,"
and by your
from
the
United Engineering & Foundry Co.—$1 Year-End Div.
Southern
by minority
of
by an agreement sup¬
25, 1940, with the same
the terms of the loan
loan
for
$820,000
Directors
covered
are
the pref.
had
company
1,
Dec.
portion of the amount paid for such assets "will be used by
Asbestos Co. to reacquire shares of
its capital stock held
a
its
which
that
1941, aggregated $275,000, and also to retire on Dec. 30,
the entire outstanding amount ($664,000), together with interest,
the
company's 20-year 7%
first
mortgage
income
bonds, due
of
The proxy states, that Southern Asbestos Co., a Delaware corpora¬
tion is the transferor and is a 98.43% owned subsidiary. It is probable
that
President and
4
29, last,
compared with $2 per share
on
1941,
maximum price will be approxi¬
explains.
proxy
Bank, New York,
Except
of
Nov.
and
the
„
Kolbe,
to
Sept.
as
,
made
are
the same as in
the
present agreement, including interest
at 3%, repayments at the rate of 25 cents
per ton of coal sold and
maturity date, July 20, 1945.
The proceeds of the additional loans, together with funds from
the company's working capital, will be used to retire on Dec.
30, 1941,
Thermoid for the fixed properties is to be the
the minimum price will be their depreciated
by
about $350,000 and the
Cos.—Arranges Bank Loans To
and Bank of New York,
plemental
proposal
a
According to
Co.
Asbestos
Coal
President, announced Dec.
arrangements
for
additional loans of
made
in
of Southern
assets
F.
National
subsequent years providing the amount will not exceed
one-eighth of the consolidated net profits of the company and its
subsidiaries after all charges but before Federal taxes on income, and
providing such net profits are not below $300,000.
fare
Electric
Refund Obligations—
participant may pay into the trust fund up to 10% of his
1941 salary to be cared for by the trustee along with the other trust
funds.
The
persons
eligible to participate in the trusts are those
management employees of the company as selected by the board of
directors, approximately 35 in number, the proxy statement says.
In addition, the meeting will vote on a plan to set up similar wel¬
Each
gold
1942,
bonds
at
outstanding Keokee Consolidated Coke Co. (predecessor
purchase money mortgage and deed of trust 5% 50-year
due July 1, 1959, have been called for payment Jan. 1,
par
and
interest.
Payment will be
moneys at the City Bank Farmers Trust
William Street, New York City.—V. 154, p.
made out
Co..
967.
of
sinking fund
trustee, 22
successor
,
V
■
profits tax.purposes is:such that: no further-provi¬
tax uhder the Second Revenue Act"bf.'1940 as
for• Federal-excess
Virginian Ry.—EarningsOctober—
$2,120,858
1,207,224
21,201,833
11,665,732
17,348,491
12,602,590
6,995,297
8,116,791
7,056,002
•
Net
Net
...
income—
oper.
ry.
22,896,709
railway—„
railway
from
Net
1—
Jan.
from
Gross
1,411,302
8J2.951
—
income—
oper.
ry.
From
■
railway
from
Net
1939'
-
$2,260,765
1,173,400
> 648,803
$2,598,580
railway—.'--
from
Gross
973,751
«9,099,557
15,523,620
7,526,414
6,158,962
Aircraft—To Raise $6,000,000
agreement
•
.
:xxX-x:,X;XX,'x:'■
Special Meeting December
':
-
i
Total
:
,3
Other
"Net
•
985
25,453
2,867 ,889
.
participations..
income
58,424,
,
X'r;
.
100,337,093
27,455,045
:
;
Interest
'«.
3.168,985
expense
contingencies
for
Provision
,
and
Vultee at present has an authorized capitalization of 1,500,000 shares
stock of which 1,052,068 are outstanding. Options are held
an
additional 37,500 shares, leaving available at present 410,332
income
Other
—
-
6,366,153
690,921
-
184,000
—
3,098,351
489,490
.
authorized stock. The cqmpany has not yet an¬
in authorized common shares which
proposed to stockholders, i \
t
-t s
While the present unissued stock would be ample for the sale of
150,000 shares to Aviation Corp. as planned, it probably would not be
sufficient to cover
all requirements under the proposed convertible
unissued,
of
shares
Proportion
nounced the amount of increase
will
Normal
The
X? constitute
Stock.
'"j
'
!
Blyth
Profit
Earned
purchased
were
at
t:
Foreclosure—Deposits Of
and
reserves
.
time for the deposit of all
to participate in the plan:
1941.
The
latest reports from depositaries indicate that assents to the
plan have been received from the following percentages of the more
to and including Dec. 31,
Toledo
Des
&
Division
Chicago
first
Division
Moines
first
Omaha
Division
Second
first
:
mortgage
!
terminal
lien
First
mortgage
mortgage
Wabash
general
and
X Total;Receivers'
91.47
*_
reorganization
already
extension
of
reason
expressed appreciation of the
the
plan..
in
have been unable to effectuate
not be deprived of the benefits
may
:
X
Week Ended—
Loaded
....
....
"X During
the
loaded.—V.
X
week
154,
p.
ended
Nov.
22,
X
1940
X <10,653
16.930
total
of
X
5,434
1941
16,929
1941, a
Nov. 30th
6,277V
10,764
connections.-
from
Total
1941
Nov. 1st
6,165
locally
Received
,V X
Nov, 29th
9,437 X
14,871
16,443 cars were
-
The
gross
as
(& Subs.)—Annual Report
was
for the fiscal year ending
53 week period. VX"V.:; VX,X".
compared with $100,337,092
Aug. 31, 1940, which
covered
a
operating profit for the year, after provision for Federal income
taxes and after deducting all other charges, was $5,429,302.
After pro¬
The
viding
for
equivalent
shares
year
held
the current year's dividend on the preferred stock, this is
to $1.36 per share on the common stock, exclusive of the
in treasury. The operating profit for the preceding fiscal
ending
similar
During
Aug.
basis,
the
was
year
31. 1940, was $2,747,472 which, calculated on a
equivalent to $0.63 per share on the common stock.
net charges of $264,028 were made against earned
"X -JX" ■' • 'XX. X'V XXXthe preferred stock, which had not been paid
Unpaid dividends
on the
preferred stock amount to $3,355,847 or $33.69 per share.
Company has again accelerated the write-off of negative film costs
by revision of its rates of amortization on the basis of 85%
for
surplus. - - VV"
Regular dividends on
since March 2,
domestic
1932. were resumed on March 1, 1941.
income
Provision
and
has been
15% for foreign income.
made in the amount of $7,150 for Federal excess
of certain subsidiaries
and, therefore, file separate returns.
profits
8,331,777
one
year
Period End. Sept.
and other
credits
Deferred
Interest of
Common
long-term debt.
—y,
.;—
...
r
minority stkhldrs. in subs, cos.——
stock
(Preferred
($5
*1—V.
par)——....
stock
r
surplus
surplus
——
*
.—
V_V
gpreferred stock held in treasury
Net
Normal
421.081
2.982.184
3,153,145
2,813,085
X
tax
which are less than 95% owned
The consolidated invested capital
directors
have
declared a dividend
on
813.801
299,142
1.371.624 i,
228.199
-
of
152, p. 2726.
21,035.328
tax...—
15,860 252
—*
56,683.565
4.848,000 (13.423,610
•
27.067,323
6,095,441
1.604,000 (22,997,603
1.604,000
20,262.352
19.367.882
14,583.328
■
•••XyXX."'''''V" X.Vv
X
4445.331
0*170*141
Dividend-r-Asset .Value
of 28 cents per share, pay¬
Wlieeling &vLake.?FricxRy.^To Sell
.
ment Trusts—
57 316.563
9,322.960:
Dr 170,14lt
will be absorbed over the last four months of the year.
of<1% preferred stock, and 2,592,155 shares
stock, both with a par value of $50 per share.—V. 154,
1272. •-'X-'• X"'..;•••'»•.
p.
L
5.670,885
5.670.885
57.316.563;]
common
:
;v««
248.501
248.195
19.006.723 V 19,006.723
.
.
1,
will
and
1942
,of $105,000 frorexjan;
pay^in'partfobVtisniffeightlocbi,
$1,500,000. Certificates will be dated
mature serially in equal annual instalments
1, -1943 to Jan. 1,..-1952. They will be subject
tq redemptlpn on any : divldend payment;
Par^; iiihd accrued 'dividends','^ " -: X "
;
.$i,'05tf,6od equipment trust
on
tenders costing over
motives and
Jan.
Callable'FJquip*
-
-
Company' Is asking-bids by Dec. 23
.Xbertificates.xProceed^
X' at
date -,on" br' af(gt Jah.-1, 1944
1
'!
equipmeht" Issue, f.the' road' is ' permlttihg biddefs to set' their own;'
and these may be different for the various maturities.;'; XX
X..-.j:XrE^ramgS-vfQixthp Month, ibf.October, ,im4,
X •. XX1946-,Xi: Xi939..:v-X. 193a (X
Gross from r^hway_X:X;. $2,043,023
$1,649,333->$l,813,972 $1,101,353,
Net from railWfty,^*!L£iXi},;t..*707,442. X, 569,959 ,Xv 752,171X-^337,763V
yNet ry. ope*, ancomei.^^;: *342,961
398,450. . , 667,735 ;X-285,407
an
coupons
From'-J^n.yir-Xir
Gross
railway*—
from
railway^i*Xi
Net
•
;XX; '
quarterly dividends of 18 cents per share were
31, June 30 and Sept. 30, last, as compared with 20
—V.
(19,448,065
>»On combined 79*974 shares
from
Net
rV. oper.
f^V.
Regular
.
profits
passed,
X as
61.832.824
57,334.690
2,200.725
1.863,755 i
X 550.000
2,044.000
29
the stock.
45.302,297
30
(9,993.980
income
Net
prov.
per share..*.;.;, :'
$S.93
X$5.46
X $7.58
S7.25
(Provision for 1941 Federal income and excess profits taxes is based
the Revenue Act of 1941, approved Sept. 20, 1941, with the ex¬
ception that the difference between the estimated provision accrued
currently during .the first eight months on the basis of. anticipated
revised legislation and that resulting from the application of the Act
XXX, 62.971
234.993
.X-XXXX%X * ,-,'X
paid on
March
cents in
preceding quarters.
\,X J
t>
'• " "i,"
On
Nov.
26,
1941, the resources of the Wellington Fund had a
value of $5,710,001 and the portfolio consisted of-145 separate items,
comprised of 104 common stocks, 13 preferred stocks and 28 bonds
comprised of 104 common stocks, 13 preferred stocks and 28 bonds.
bution
bef.
taxes.
tax
upon
share of
1941.
174,998,003 334,143,217 220.466,690
'
to holders of record Dec. 16;
Approximately 10 cents
this dividend is from ordinary net income and the, bal¬
of 18 cents per share from net security profits realized during
This dividend represents the 48th consecutive quarterly distri¬
Dec.
389,184,283 321.798 000
151 665,857
394,861,959 151,665.857 394,861.959
269,709,773
fEarnings
X
—
-
-
-
Wellington Fund, Inc*—Larger
ance
1941—12 Mos.—1940
2.877.261
4,074,326
■
per
,: x-x
450,242.292 261,535,733
Fed.
Excess
;
able
1941- -9 Mos.—1940
...
income
for
169,574.911 166;712,374
"Including construction in- progress, arid after - reserve 'forxdfepreciax
tion of $36,560,935 in 1941 and $34,219,557 in 1940.
(After reserve
for
depreciation and amortization of $11,480,394, in 1941 and $11,164.281 in. 1940.
(Including 100.255 shares Of common stock carried
at $1.
5 3,490 shares at cost. ^Represented by 103,107 no par shares.
—V.
154, p. 697.
,
•"
,X v " , :':'X
The
30—
orders.
billed
1,725,267
95.882
18 819
contingencies—
for
Reserve
Sales
3,217,031
708.341
493.360X
payments for film, deposits, etc.—'—•
liabilities of subs. oper. in for. territories;
Advance
Earned
i
'I
.x.Xxx Xj XX;-.X
,
booked
Unfilled
2,255.063,
—
affiliated companies*,.
and participations payable..—
to
Royalties
Capital
;-j
Manufacturing Co, (& Subs.)
xV
—Earnings—
-
Warner, President, states:
X
,
income, after eliminating inter-company transactions,
$102,293,170
89,708
1306.
Warner Bros. Pictures, Inc.
Harry M.
Westinghouse Electric &
120.065
1,130,284
344.366
accrued
within
Total
-
990.902
X
including the application to buy
tenders or on thd ♦
shares of Engineers preferred stock under
Stock Exchange.—V. 154, p. 1272.
York
New
4.358.324
-
stock..,
liabilities
*
Reserve for Federal income taxes...
Serial bonds, sink, fund require., purch. money
and contract, oblig. and mtge. instal. matur.
Owing
in .these transactions,
steps involved
8,331,776
accrued
Funded
Week Ended Nov. 29—
has
437.640
X,.
Go. Company
of the various
purchase preferred stock of Engineers Publib Service
filed application with the SEC requesting approval
to
95,000
169,574,911 166,712,374
$
X*
$
payable
payable on preferred
payable
Interest
Curr.
■
,
.
Car Loadings
splendid
from the security holders and grant this
the hope that the holders of securities who, by
extraordinary circumstances,
shares
95,963
Accounts
received
actual, deposit of their securities,
of
92.72
certificates-.
receivers'
and
managers
of
Orders
Other
total—bonds
Grand
cooperation
further
100.00
Properties
Service Co., announced
the company
expected that the net proceeds of the sale, after calling $3,909,000
5'/2% bonds of The Western Publtc Service Co. at 104 and 8,292
of its $1.50 dividend preferred stock at $27.50, will be used
is
14.047,426
161.954
....
;
effective
—
Dividend
certificates
826,206
1,300.072
LiabilitiesNotes
President of Engineers Public
Barnes,
that
56,697,252
953.832
deposits
———
investments
—
Prepaid taxes, insurance, rent and other exps.
Goodwill
C.
4
35,000
Total
87.70
mortgage—.
466,771
526 816
—
^Miscellaneous
94.19
.
>
.
262,469
and special accounts
reserve
28 nulli-
had signed a contract with Consumers Public
Power District for the sale to it of Nebraska properties of The Western
Public Service Co.
The price for these properties contained in the
contract is $6,575,000 subject to an adjustment as the. result of an
audit.
The transaction is scheduled to be closed Jan. 15, 1942, and it
57,289,8011 57,543,368'
Sinking fund
93.48
—
notes
^ Western Public Service Co<—Sells Nebraska
310,943
3,294,846-.
764,254
Deposits to secure contracts—
Ra'lway—
Refunding
The
mortgage—
405,109
131,007
agreement
Government bonds
S.
97.94
96.63
96.09
93.38
mortgage
first
extension
D.
Dec.
1936,
Mtges., long-term
receivable,
less
%
Chicago
&
1,653,214
to
film
95.62
:
mortgage
1,150,780
Land,- at cost ^7*—7*——*—*—..7 ..... —~—-.
54,256,500
^Buildings and equipment on owned properties
13,589,324
•(Leaseholds, bldgs. and equip, on leased prop.
Accounts
received from officers
under Feb.,
U.
issues:
Wabash RR.—
5,833,920
2,495,530
638,123
materials,
Advances
from
1,756,895
7.115,132
4,344,756
accessories, supplies, etc
an
outside producer (recoverable
rentals)
—
Curr. assets of subs. oper. in foreign territories
Investments in affiliated cOmpanieS_i^.i____
Raw
7,709,982
5,927,053
—
»_>-■.
/•
1,679.327
"...
'
the
reversed
It
1939.
1,
6,100.247
cost less
-J "-
^
h
-
approval order made by Federal Judge
A. F. St. Sure on Aug.
15, 1940, after hearings before the ICC. The
Commission had recommended approval of the plan,
The present decision is a victory for principal objectors to the plan
—the Western Pacific RR. Corp., a holding company for the railroad,
which claimed it was frozen out of any participation of the reorgan¬
ization; the A. C. James Co.,. which held secured notes of 56.249.750,
and
the
Railroad Credit Corporation,
which held a similar claim
amounting to $2,592,113 against the road.
The Circuit Court held that the objections of these parties should
have resulted in further hearings before the ICC to
determine the
value of their claims, and of the railroad properties as well as claims
of the respective creditors.—V. 154, p. 1307.
4,445,331
7,431,249
notes
•
Co.—Court Nullifies Plan—-
The U. S. Circuit Court of Appeals at. San Francisco Nov.
the effect of the reorganization plan of the road, a plan
.
,
—
—
and
,
fied
Aug. 30, *41 Aug. 31, *40
.
productions, at costL
—
and scenarios unproduced, at
holders of securities entitled to participate
in the plan an option at any time prior to Dec. 31, 1941, to receive
in, lieu of their distributive share of the cash proceeds of, sale securi-,
ties of Wabash RR, issuable under the plan in respect of the securities
how held by them respectively.
To make this option effective, the
Detroit
Balance Sheet
X
,
Rights
b.d was for $31,031,000, plus an undertaking on the part of
the purchasers to assume all obligations required to be assumed by the
purchasers under the final decree of foreclosure and sale dated Oct. 2,
First
X;
15£, -p. '550.
Western Pacific RR.
7—_
,
9,322,960
-
receivable.—
Released productions, at cost less amortization
Productions completed but not released, at cost
Productions in progress and charges to future
The
important
189,227
287,646.::-:
for
Cash.
Accounts
reorganization managers have extended the
bonds and obligations heretofore entitled
debentures.—V.
'
—
Consolidated
1941, and to procure for all
'
on cap. assets (net)
capital stock of, and adv.
providing
Assets—
foreclosure sale Dec. y 1 by Tom K. Smith
as nominees of the reorganization managers,
4,553,319
107,989
7
for-the extension of the maturity
"Aug.Xl, 1959, . ..
.
i - . - ■
X !-'r"
original; issue- of these debentures was originally admitted to
unlisted trading privileges on the Curb Exchange on July
17, 1929,
but they have heretofore been traded only in the unstamped
form.
The unstamped debentures- will continue to be* dealt in on the Hbc^"
chtfhge and will be "quoted -as; a .separate market from the" stamped X 4
amortization, depreciation, interest expense
and other miscellaneous charges,
fOther than $689,787 in 1941 and
$789,345 in 1940. in respect of studio properties charged to film costs.
shares of
411.
At
"plan for extension
provides, among other things,
a
The
58,458
;
274,237
losses
surplus
"■Before
principal
are named as
reorganization managers of the company, it was
of the railways and properties of the company
all
that
announced
6,333
-
date of. the; debentures' to
135.342
193,103
unlisted trading Dec. 4
New .York Curb Exchanger admitted to
1. 1944, which
have assented
-X
of debentures," which plan, dated Oct, 15, />'•
Jan.
office of the
Arthur K. Atkinson,
:
4,445,331
affiliated company
of
to, a subsidiary company—
Dividends on preferred stock
p.
'Wabash Ry.—Road Sold
the
safe
on
Losses and prov. for
Book loss on sale of
Securities Under Plan—
At
to
2,747,473
1,612,047
5,429,303
10,074.070
convertible preferred carried with it a
common stock had been reserved
ihe
of
that 650,000
conversion.—V. 153,
statement
for
838,000
X;:. Xi 7,150
-—
Union—Extended Bonds Listed-^
Western Newspaper
The
the' 15-year 6% convertible gold debentures due Aug.
have, been stamped to indicate that the holders thereof
1940,
•
7
\
"underwriters.
X The
registration
tax
1
a
and Emanuel & Co.
Inc.,
Co.,
profits
XX.-X
1,598,850
—,
profit __—-t-—————
Earned surplus at beginning of period
Net
discount on debentures and
other bonds
agent.
Maj. Fleet and his group, the Commission said.
34% of the outstanding Consolidated Aircraft Co.
about
-■'■r-i_X-'
X" Blyth &
2,369
taxes:
tax^
.
Net
he acts as
holdings of
Whom
income;
Excess
Fleet.
Registration—
registration statement with the Sail
Francisco office of the Securities and Exchange Commission covering
240,000 shares of cumulative preferred stock. Proceeds of the sale will
be used to purchase the 440,000 shares of Consolidated Aircraft stock
held by MaJ. R. H. Fleet, President of Consolidated, and others for
filed
has
corporation
21,771
applicable to min, stock--
profit
Provision for Federal income
Files Preferred Stock
The
3,587,841
holders;
be
preferred issue and the option covering the balance due to Major
The anticipated preferred stock financing will be headed by
& Co., Inc. and Emanuel & Co.
v
.
of
7,057,073
taxes..
minority int. and Fed. inc.
Profit bef.
-
The
years.
.
of common
on
1971,
about
bonds-WiiU bb sold through competitive bidding.
The company, proposes to. apply the proceeds from the sale of the XX(
securities, together with "treasury-funds, to' the-redemption; of 518,600,- X
060 3"j/4% first mortgage bonds, series Ai due May 1, 1969, and to the
redemption of $2,930,000 of 3Vii% unsecured -.notes, due serially June., ..
13, 1942rDec, 13,.* 1947. • The-'interest, rates on: the bonds and the
unsecured notes will be furnished by. amendment.--V. 154, p. .1061. • LKj[
6'/2
authorized number of common
Profit
and sale of
ance
4,621,497
3,705,634
1,494,000"
—-—
the Holding Company Act regarding the proposed
$18,000,000 of first mortgage bonds; due Dec.- T,
$2,900,000 of unsecured notes,: due serially over a period of
under
70-449)
11,200
filed an application (File
issu- •'J
2 that company
announced Dec.
SEC
The
-
;
1
Program-^
ing
■
4,517,825,
Texas;.UtilIUes Co.?f-jProposes -$20,000,000 Refund-1
- x .
' ;
.x: y
x ' /,
West
1,678,213
.
59,547,286
335
;
<*;-Thet IpC>JNov;.„24..-,toplq.under, advisement sthe--application of..the y. P
company: for authority. W issue 17,500 shares of common stock (par XX
$10),X ,The stock w;il be^sold by the: company to the publ:c at .parXX/X
value,: a«:ording to thaf. AppUcation'.
..
.
i , <*i ,
VXi^h^JPPinpanyX-''^^icivi^opeirates:!:' betweepX^yn^lrigftonXahtt 7Ar^^ngtonXxXy
and Fairfax counties in Virginia, has. an authorized capital stock of
$500,000, bf which $325,000i haS; |sreviously -been issued. r ^X^
15,546,962 :X;11,656,549
35,866
—
affiliated company
Provision for miscellaneous in vestments. XxxxXX
tAmortization and depreciation of properties. _
investment in
for
Provision
shares.
'
•
...
——Xu-C 102,293. 171
film .costs—
costs, incl. royalties and
of
Operating and general expenses
15—
1941, to act upon a proposal
ferred stdcfe issue and to increase the
15,
admissions, sales &
■,
—
...
Amortization
of "stockholders of Vultee has been called for
to authorize the required pre¬
meeting
special
A
Dec.
-xxx.
• -
income —98,134,57596,293,435
Rents from tenants and royalties, 4,158,596 X;. 4,043,657
'v■u.',v'Xj'^ * ■>/
'
'<
v-.j.-. '
'
miscellaneous
:
.
;'FiiesXV^th:'IC€^^x^x;:tXX"^X;xXiXxx
-H'''4I XiX".
fi-i'Xi'l1
.
.
,
Filmrental income.theatre
purchase
,
'
^Consolidated Income Account
.■
:
Aug. 30, '41 Aug. 3J, ,'40
Years Ended—
].XXX; ]:$XXXXXX]XX■,.XX" X XXX¥XXX.X. ■■X'X;XXXi.;r;(XXX
price, $9,280,000 is payable in cash and the
balance by note payable at the option of Vultee either in cash or
in shares of common stock to be issued by Vultee.
To finance the purchase, Vultee announced that it expects to obtain
a
portion of the cash funds by sale to the public of approximately
$6,000,000 of convertible preferred stock. The company also expects;
to sell 150,000 additional shares of Vultee common stock to Aviation
Corp. at $10 a share.
.;
The balance of the. cash required will be obtained from additional
bank loans or from corporate funds.
X;. •
total
the
-
•
1941.\On
Of
.
-
equity financing.
1
'
. .. .....
provides for the purchase by Vultee of 440,000
shares
of
Consolidated common stock owned by Major Fleet and
others for whom he is acting as agent. The shares involved amount
to approximately 34% of the outstanding common sj,
:
The total purchase price will be $10,945,000 including the $2 dividend
declared by Consolidated Nov.
27 payable Dec.,/27,
this
basis the company states it is expected
that the aggregate cost to
Vultee for "the block of stock will be $10,065,000,: or $22.87V2 a\share
after making allowance for receipt of the dividends, but before, pro¬
viding for taxes and other expenses in connection with the transnew
X action.
...
.
"
The
$954,659,
444,324
separate items on the consolidated
included among the consolidated
current and working assets and current liabilities.
The reserve for
contingencies includes $1,600,000 in respect of net assets in foreign
countries, of which sum $1,264,000 was charged against operations X1 Property retire, reserve
1
<
during the year.
'■-...XX • X'XXX; appropriation's vVi—- ,, 91,^1: r,
91,647
1,096,128
1,108,991
On Aug. 8, 1941, Warner Bros. Pictures, Ltd., a wholly-owned sub¬
sidiary, in connection with the settlement of an estate,1 purchased
Net oper..* revenues— .c $266,361. $ $3lQ^58 , $2,791,461 « $3,771,823 ^
2,007,000 ordinary shares of Associated ^British Picture: Corp:; Ltd;;
Other income
which shares constitute approximately 25%;of Its outstanding ordinary
shares.That corporation owns or operates more than 400 theatres in
Great Britain and is the largest film- customer-.©!:- Wdr'tter.;':Bros'X)?ic>X
turesXLtd, The purchase priceof £903,150 was-paid by W&rner Brqs."
Pictures, Ltd., with funds which it borrowed from an English, bank. <
The loan,
which is guaranteed by Warner Bros. Pictures, Inc., has
W#XX y/XX-^XV'>' rr» b "XI'XX;
been reduced to
£528,150 by payments made by the British subsidiary
X1-Net'Income-'-e-S—_
^197,440
' $222,202 $1,876,291. $2,908,726 v \ during the month of August. Neither the loan nor the shareholdings
DividendsX&ppUc. to'preferred-stock for period " 622,518 7' '• 622,51'^
ire
reflected in the
attached consolidated balance",sheet, Xas the'
accounts of British subsidiaries are consolidated as of July 26, 1941.
Balance247,773 ;$2.^86,208 v/
During-the fiscal year, the company retired $600,000 of 6% deben¬
X-V."154, ,p:r 1061,.V
...
,
, •
«nr-'-X • * <" *•■
."
i >* '*• - X»!'
■ x
tures, series due 1948, in satisfaction of the sinking fund payment;
due on or before Deo. 15, 1941.; At the present time;$2,301,000/of
X?x Washington Virginia &' Maryland Coach Co., ■? Inc.— X
these debentures is held in the company's treasury.
»
balance
Holdings In Consol¬
By Sale Of Pre¬
increase Common Shares^The company on Nov* 28 entered into a formal agreement with
Major Reuben H.
Fleet for the purchase of controlling stock in
.Consolidated Aircraft Corp. and at the same time announced plans
for
v:
...
Operating.. expenses.^Xi X
foreign territories are shown assheet, rather than being
in
ferred—To
*
Operating', revenues.—
operating
"
Aircraft, Inc.—Purchases
Vultee
idated
Period Ended Oct. 31—
Z:\v-yv
$1,773,322
958,655
790.952
1941—RionthUl940
X 1941—12 Mos.—1940 -X
$995,240 $11,377,906 $11,398,895 •
380,.116 • ;5,245,841,;* ¥4.428,040 •.
,; 104,070.X
834,669
635,4821 X
52,676
Prov. for Fed. inc. txs.
ProvX.for.-xFqa.r-excess,
y;
X-X''";V-. <
.•• -;
'♦ prMlts,/taxes—- X- 7,333.
Other: taxes...-——-—uvX,1"- 100,127 O7v l09,249
1,402,754> 1,454,56Q;r::': «
profits
excess
amended, is required for the year ended Aug. 30, 1941.
The current assets and current liabilities of all subsidiaries
1938
154, p. 871.
—V.
for
sion
'
1940
1941
Saturdajry Eiecember 6*-1941
FINANCIAL CHRONICLE
THE COMMERCIAL &
1386
:■
154,
-
p,;
income..^
1307,-
'17,723,932
,X-6,580,269
• ,3,419,479
.
14,304,031 12,019,724' ..8.786,023;
4,968,801-'3,9.18,697 hr 2,254,213
v-,.
3,794,830
.-
3,239,358 •. 1,626,008
:*
]■*';'< • 'X'-.'V
Co.—Larger Distribution—(Xxf
declared a dividend of 50 cents per share on the
common stock, payable
Dec.. 17 to holders of record Dec.10. This
compares-with 25 cents, per share paid on April , 17, vJuly-;: 17*! and
Oct.. 17>:.:laH.y.The,i..rr,'>vious dividend. was 31 cents paid on Aug. .1.
" White
Motor
:i:r The directors have
,V
.
1934.—V.
153,
p.
1145.
.
'
.>X
,
.
:
*,
X
X']
ft'
1
iVolUtfte+54^Number4016#THECOMMERCIAL
'-JTV
Gold Bullion in European Banks
following table; indicates tho: amounts of gold
(converted into pounds sterling at the British
statutory rate, 84s. 11 %d. per fine ounce) in the princi¬
pal European banks as of respective dates of most recent
statements; reported to us by special cable yesterday
(Friday); comparisons are shown for the corresponding
dates in the previous four years:
bullion
Banks of-
1941
£
■r:i^';
,
*644,840
*637,160
240,687,670 242,451,946
England.
France y
"
£
v";
£
.
327,613,945
327,578,838
295,811,223
310,168,538
3,871,350
3,007,350
2,509,500
3,839,700
Germany x 3,858.950
Spain
63,667,000
63,667,000
63,667,000
63,667,000
87,323,000
Italy
16,602,000
16,602,000
23,400,000
25,232,000
Netherl'ds
97,714,000
97,714,000
86,641,000
25,232,000
115,138,000
103,088,000
123,418,000
98,457,000
:■
,
96,054,000
132,857,000
132,857,000
Switzerl'd
84,758,000
84,758,000
92,392,000
115,590,000
77.646,000
Sweden..
Bel.
Nat.
41,994,000
41,994,000
34,828,000
32,857,000
26,065,000
Denmark..
6,505,000
6,505,000
6,500,000
6,536,000
6,547,000
Norway--.
6,667,000
6,667,000
6,666,000
8,205,000
that member
22
Exchange
carrying
firms
margin
6,602,000
J
Tot. wk.
695,947,780 697,732,136 750,286,399 1,100,394,118 1,080,863,876
PreVi Wk. 395,761,375 697,691,828-751,135,153 1,099,847,563 1*084,325,514
:
(Ledger
balances
in milions
of
•Pursuant to
Oct.
In order
the
make
to
current
Balances:
Customers'
f
Credit
debit
•
(
.
■/
and
in
111
banks
for the
—25
BANK
x
,
Gold holdings of
include
cies."
y
firm
and
fine
1939
1938
£
£
£
ish
as
in
+ 18
Bank
statutory
about
few
of
one
as
France
years;
pound
296
—5
Public
+ 16
prior
to
March
7,
1940,
tails of changes, see
New York
ended
for all maturities.
Ruling rates
there
—1
21,953,186
47,140,720
18,628,453
126,111,631
138,889,132
11,741,792
142,968,106
86,287,835
102,944,906
106,310,262
—2
—2
-
—36
"Metal and Mineral Markets"
with the Treasury the sole
-
4
"
•
% %—%'%
war
to
action
less
than
total
circulation
note
Sales
in
36.657,844
66,136,164
39,373,568
87,243,165
30,595,535
and
the
balance
the
3,858,661
5,399,688
17,871,033
20,445,632
23,362,233
21,502,535
64,412,000
33,024,185
47,472,474
69,861,644
54,748,147
1,259,975
1,275,143
1,348,568 327,613,945
327,578,838
__
Proportion of
toliab.
32.2%
rate—
res.
2%.
2%
2%
168s
168s
168s
Bank
Gold
18.4';
fine
oz
__
of the
established
for
by
August
production,
a
re¬
'/'•'■■/"■
domestic
Tin
The
Bank is %% for bills running from 1 to 90 days.
Copper#....
Allocation
i
market for last week totaled 5,359
for
tons, against 1,656 tons in the pre¬
•<
:■/#•
did not come vious week.
through as promptly as expected,
The percentage of lead to be set
and, from present indications, the aside by refiners during Decem¬
rush to move metal to consumers ber for allocation
by the Director
may not
get under way; before of Priorities will be 15% of Octo¬
Monday; Dec;-8.^
{
ber production^ The -percentage
* Sales of copper.in the domestic earmarked
for
the pool
is the
market during the last week to- same as that for November. It is
December
;
certificates
copper
; taled 22,696 tons. The
price situa¬ expected that
tion was unchanged, both ift do¬
mestic and export copper. Metals
Reserve has
been-buying' so-called
between 6,000 and
Business in tin
during
ume
consumers
the
was
ber;; shipment
in fair vol¬
last week,
interested
in
signed
was
sold-up
condition
their
raised
of
views, to
metal.
with
Thailand and
countries
intend.ta
States
an
agreement
Mexico
and
by which the
the
mined Mexican silver direct from
well
the
Mexican
Government at
the
above
$200 per flask for spot daily price quoted by the Treas¬
small lots.. On
nearby ury on the day of purchase. This
material, quotations varied from Treasury buying rate has been /
$198 to $200 per flask. In San 35c. an ounce since July 10, 1939.
Francisco, $195 has been paid. The As a result of this agreement,
upward trend of the market , may Mexican silver in the amount
soon bring
about a ceiling over heeded for American industry has
prices, the trade believes.
%
become unavailable in the open *
metal,
35c.
York
New
quotation for
foreign
silver advanced
threeeighths of a cent on Nov. 28 to
35 %c. an ounce.
In announcing
the
cient
this
—Electrolytic Copper—
Exp. Refy.
price suffi¬
necessary
the
have
basis
raised
29
quotation to 35%c."
Zinc
—Lead-
Straits Tin,
New York
New York
St. Louis
St. Louis
11.200
52.000
5.85
5,70
8.25
11.200
52.000
5.85
5.70
8.25
11.200
52.000
5.85
5.70
8.25
11.200
52.000
5.70
8.25
11.775
11.200
52.000
5.85
5.70
8.25
11.775
11.200
52.000
5.85
5.70
8.25
11.775
11.200
52.COO
5.85
11.775
1
2
of
our
("E. & M. J." QUOTATIONS)
11.775
t
28
plan
the pact for five
we
a
the
On
11.775
11.775
27
French Indo-China,
silver.
price,
official
DAILY PRICES OF METALS
Dom., Refy.
Treasury price of
obtain
to
Mexican
advance, Handy & Harman
the following statement:
Nov.-Dec.
the
Accordingly, the New York
market advanced to
issued
Singapore
at
market
Silver
The
in the control
renew
1941,
between
United
Treasury Department indicated
its willingness to purchase newly
market continues and some sellers
Decem¬
Was /easier, dropping below the
New York basis of 52c. Excepting
all
"On Nov. 19,
2d,
51.125c.;
1st,
'
'
llVad
The bill buying rate of the New York -Reserve
asked.
Dec.
have
84s
?/2% asked; for five and six months, %% bid and 9/16%
Quicksilver
were
llV2d
84s
prime bankers' acceptances continued
this week. Bills are scarce with the demand
excess of the supply.
Dealers' rates as re¬
the Federal Reserve Bank of New York for
and including 90 days are % % bid and 7/16%
bills running for four months, 9/16% bid and
quiet
largely in
ported by
bills up to
asked; for
very
the
pool •( requirements
2%
2%
Bankers' Acceptances
tons.
•I": Zinc
35.3%
44.3%
The market for
125c.;
OPM during the last week at 29%
27.4%
val. per
51.125c.; 3d, 51.125c.
December
20,954,876.
and
bullion
period
amounting to 7,624 tons.
backlog increased to 72,425
9,640,659 *
4,556,550
21,806,522
&
coin
Coin
The
5.85c., New York, and at 5.70c.,
Louis.
35,944,226
28,761,921
advances—
outstanding notes were backed by gold; the amount of
gold ;held in excess of the amount required to provide
a 100 % backing for the notes outstanding above the au¬
thorized fiduciary issue represented the Bank's reserves.
Today, however, reserves constitute (except for £1,259,975 gold) merely the unused portion of the authorized
in'its issue of Dec. 4 reported that
St.
39,823,796
114,886,164
24,304,293
Res. notes
exchange equalization fund; prior to that trans¬
the fiduciary issue was regularly an amount
Suspended To Review Lead Price
at
51,606,866
139,827,838
26,363,072
the Bank transferred nearly its entire gold holdings
the
1
publication further reported:
The
55,960,574
126,903.000
Discount &
However, the effect of the rise on
^.completely nullified by a further increase
£50,000,000 in the authorized fiduciary issue to £780,000,000.
By this action and, to a small extent, by an in¬
crease of £397,195
in gold holdings the Bank raised its
reserve account by
£50,397,195; after taking accodnt of
the currency rise the Bank was able to record a net gain
of £43,592,000 in its reserve.
At the start of the present
buyer of Mexico's surplus of newly mined of the
hAVMA!'11V\
t't
105,789,492
secur.
Securities-
upward trend of recent
expansion of £6,805,000 to a new record
pended for 30 days for further study.
The lead price, generally
for sheet zinc and ribbon or strip
regarded as too low for raising^
zinc, were made public Nov. 29 by
FAI':
domestic output; will Come up for mine ' whether, ther price of lead
OPA.
The
maximum
for
sheet
review early in January. Quick- should be -increased. The confer¬
zinc under the schedule will be
silver
again
was
higher. The ence was called by Representative
13.15c. per pound, f.o.b. mill, with
E.&M.J.
index- of
non-ferrous White,. Chairman of - jthe House
the usual discount of 7% on car¬
metal prices for November was committee investigating the price
load lots or more. Ribbon or strip,
:
r
'■
84.32, against 83.84 in October, situation ini lead.
12.25c. per pound.
and 83.14 in November last year. #• Domestic quotations, continued
^
136,349,271
' '
secur.
continued; its
an
silver, the New York quotation for foreign metal for domestic con¬ duction of 2% from the Novem¬
sumption advanced three-eights of a cent during the last week. The ber "take."
order severely restricting the use of lead and tin foil has been sus¬
Approved maximum base prices
•
'
Other
of
Foil Order
Silver Higher
*-
492,830,691
157,396,358
-reserves was
-
Non-Ferrous Metals
,
are
Dec.
months with
Money Rates
heavy.
£
487,752,301
7,599,000
accounts-
23
217
533,876,094
192,309,845
high of £716,848,000.
Dealing in detail with call loan rates on the Stock
Exchange from day to day, 1% was the ruling quotation
all through the week for both new loans and renewals.
The market for time money continues quiet. Rates con¬
tinued nominal at 1%% up to 90 days and 1%% for four
to six months maturities.
The market for prime com¬
mercial paper has turned over a large volume of busi¬
ness this week.
Prime paper is still in good supply and
the demand has been
716,848,000 598,250,958
deps.
Note circulation of the Bank of England in the week
1940, there are per Brit¬
as recently as September, 1936,
were'equivalent to the statutory pounds. For de¬
footnote to this table in issue of July 20, 1940.
Dec. 8
1937
Other deps._
JJQ,nlCGrS*
—14
—4
part¬
Bank of England Statement
,
gold holdings have been revalued several
basis of latest Valuation (23.34 mg. gold 0.9
about 349 francs;
per-pound, and
t:
Dec. 7,
+ 33
-
accounts-
reported in 1939 and
francs
francs
125
on
franc), instituted March 7,
'
f
Other
"deposits held abroad" and "reserves in foreign curren-'
recent
:■
,,
Govt,
,
equals
were
as
STATEMENT
Dec. 6,
1940
74
in
COMPARATIVE
Dec. 5,
1941
255
balances
ners' invest. & trading accountsin capital accounts-
.
The
times
the Bank of Germany
ENGLAND'S
Dec. 4,
Circulation-
Credit balances
f
pounds.
OF
+ 29
—17
periods as well as with the figures for other countries in
tabulations,. we shoW; English holdiiigs in- the Above, In statutory
since
week ended Dec. 4 together with comparative
same weeks in previous years:
18
with former
the
an addition to securities.
' present tabulation of the different items
we
figures for the
credit balances:
Other
Credit
figure comparable
£226,317
£
Free
•
and
—10
414
The lat¬
governments from the banking department to
issue department
as
backing for the enlarged
fiduciary issue.
Other securities rose £809,476 of which
£583,159 represented an addition to discounts and ad¬
1940
+
186
borrowed
Customers'
£2,800,461.
rose
year ago
transfer
Balances:
Money
A
4 decreased
Dec.
the
Following
—5
628
firm
and
part¬
trading accounts-
proportion was
a week ago,
duction of £43,780,000 in government securities in the
banking department of the Bank; it was necessary to
decrease
1941
no
ciated with the increase in the fiduciary issue was a re¬
Oct. 31,
Sept. 30,
is
has
£2,191,000 while other deposits
..
balances
&
hand
on
;
it
now
ter consists of bankers' accounts which decreased £80,144 and other accounts which increased
£2,880,605. Asso¬
in
invest.
ners'
Cash
-
balances
Debit
toe
calculations.
our
31,
1941
Debit
item
the proportion amounted to 18.4%.
Public deposits in the week ended
since
Currency ana Bank Notes Act, 1939, the Bank'
of England statements for March 1, 1939, and since have carried the
gold holdings of the Bank at the market value current as of the state¬
ment date, instead of the statutory:price which was formerly the basis
of value.
On the market price basis (168s. per fine ounce), the Bank
reported holdings of £1,259,975, equivalent, however, to only about
'£637,160 at the statutory rate (84s. llM^d. per fine ounce), according
to
or
Therefore
reserve
of the book transaction noted the
cause
vances
Increase
Note—The war m Europe has maae it impossible to obtain up-to-date
reports from many of the countries shown in this tabulation. Even be¬
fore the present war, regular reports were not obtainable from Spain and
Italy, figures for which are as of April 30, 1938, and March 20, 1940,
respectively.
The last report from Switzerland was received Oct. 25;
Belgium, May 24; Netherlands, May 1%' Sweden, May 24; Denmark,
March 29;
Norway, March 1
(all as of 1940), and Germany as of
Nov. 14, 1941,' and France as of -Aug. 22, 1941.
the
able to rise this week to 32.2% from 10.4%
in face of a small net increase in
deposits.
dollars)
v
-
of the
accounts
$18,000,000 in money borrowed by the reporting firms.
These firms, also reported an increase of $18,000,000 in
the debit balances in their firm and
partners' investment
and trading accounts.
During the year ending Oct. 31,
1941, customers' debit balances decreased by $25,000,000
and money borrowed increased
by $33,000,000.
A summary of the customers' debit balances and prin-,
cipal related items of the member firms of the New York
Stock Exchange that carry margin
accounts, together
with changes for the month and
year ended Oct. 31,
1941, follows:
/.
£
*681,071
328,602,728
,
Nov.
on
Stock
for customers reported for October a decrease of
$5,000,000 in their customers' debit balances and an increase of
1937
1938
1939
1940
;
York
issue.
exaggeration to say
no
significance.
For¬
merly it signified the amount of gold that the Bank could
part with without interfering with the currency back¬
ing..
Similarly, the proportion of reserve to deposit
liabilities is meaningless now for the same
reason; be¬
that
The Board of Governors of the Federal Reserve Sys¬
tem .announced
New
1387
paper
Federal Reserve Reports Brokers'
Balances
The
-
& FINANCIAL CHRONICLE
5.85
'
years.
3; -
Deliveries of primary tin in the
6,500 tons will be available. Metal
United
not allocated out of the pool will
be
added
to
the
Government's
amounted
States
during
November
:to
8,355
long tons,
against 8,000 tons in October;
export; copper on the basis •> of stockpile.
; <
World production of tin during
il.20e.,: f.6^3.* refinery.
//■ ;v
Pending the outcome of an in¬ October was estimated at 19,300.
/'; Copper sold to domestic convestigation "to
get all
of the long tons, making the total for the
surtiers '.diirier
facts" upon which the lead and tin first ten months of this year 205,amounted to 78,577 tons, against foil order was issued On Nov.
24, 200 tons. Production in the Jan.179,406. tons in' October*
' ,
Donald :M.
Nelson, Director of Oct. period of 1940 was 187,600
/*„• Consumption Of Copper in the
■ %
; • ■■■/./■//;V:
Priorities, announced Nov. 28 that tons.
United. States ; during ; October, the order had been
suspended for
Straits tin for future arrival
based on shipments by , mills, arid
30 days. The question of whether was as follows:
foundries, was 137,000 tons, against
the/ order/ should /be
revoked,
Dec.
Jan.
Feb.
March
134,000
tons in
the preceding
modified, or put into effect -un¬ Nov. 27—52.000 52.000 52.000 52.000
month, according to the American
changed should be settled in that Nov. 28_____52.000 52.000 52.000 52.000
Bureau of Metal Statistics.
Nov. 29
_i_52.000
52.00J
52.000
52.000
period. ///'," /"//.;.^/^/ /' / ; ;/:/\''/-.///
Dec.
1
:
52.000
52.000
52.000
52.000
v"''/- Zinc
Dec.
2
52.000
52.000
52.000
52.000
■:}
//"
r: Lead
';////:// ?;'//'
Average—
__
8.25
"
Average
prices
calendar
for
export copper,
York lead, 5.850c.; St. Louis lead,
refinery.
11.775c.;
above
The
quotations are
week ended Nov. 29 are: Domestic copper f.o.b.
f.o.b. refinery 11.200c.; Straits tin, 52.000c; New
5.700c.; St. Louis zinc, 8.250c.; and silver, 34.825c.
"M. & M.
M.'s" appraisal of the major United States
They are reduced to the
All prices are in cents per pound.
based on sales reported by producers and agencies.
markets,
basis of cash, New York or St.
Louis, as noted.
,
■
•
Copper, lead and zinc quotations are based on sales
deliveries; tin quotations are for prompt delivery only.
domestic copper prices are quoted on a delivered basis; that is,
plants.
As delivery charges vary with the destination, the
are net prices at refineries on the Atlantic seaboard.
Delivered
prices in New England average 0.225c. per pound above the reiinery basis.
In
f
Leon
Henderson, head of OPA,
has agreed to confer with repre¬
sentatives of the lead industry in
:
Washington on
Jan. 5
to deter¬
Sales of zinc by the
Pfime West¬
ern division for the calendar week
ended
•
Nov.
,
291 involved vl 1,823
tons, with shipments in the
same
Dec.
3
Chinese
52.000
;tin,
52.000
52.000
99%,
nominally as follows:
51125c.; 28th, 51.125c.;
52.000
spot, was
Nov. 27th,
29th,' 51.-
the
delivered
trade,
at
consumers'
figures shown above
etc.)
(lighterage,
,
for
copper
On foreign business,
to f.a.s. transactions, dollar
in method of doing business.
offerings
change
are reduced to net at refineries on the Atlantic
owing to the European War, most sellers are restricting
basis. Quotations for the present reflect this
A total of .05c. is deducted from f.a.s. basis
to arrive at the f.o.b. refinery quotation,
quotations
Export
>
seaboard.
-
-,
for both prompt and future
Due to the European war
is not available.
ever,
are
Nov. 28,
as
Prices
follows:
on
the usual table of daily London prices
standard tin, the only prices given, how¬
Nov. 27, spot, £256%,
three
months, £260%;,
spot, £256%, three months, £260; Dec. 1, spot, £257%, three
months, £261; Dec. 2, spot, £257, three months, £260V4; and Dec. 3,
spot, £257%, three months, £260%.
Sir:-sasyr-sst srr:
,1388
THE COMMERCIAL & FINANCIAL CHRONICLE
Saturday, December 6, 1941
Weekly Statement of Resources and Liabilities of the 12 Federal Reserve Banks ai Close of Business Dec. 3,1941
k
Three
Ciphers
Federal
Omitted
(000)
Reserve
V
Boston
New York
Philadelphia
20,553,016
1,166,585
8,193,507
1,272,194
15,496
4,404
961
1,266
236,263
Agent
23,327
48,771
20,804,775
1,194,316
3,147
900
Total
at—
Cleveland
Richmond
St. Louis
Atlanta
Chicago
530,069
3,487,774
608,115
648
1,505
Kansas
Minneapolis
San
City
Dallas
370,002
534,802
411,464
753
480
847
>.
Francisco
<4-
ASSETS
Gold certificates on hand
Redemption fund—Fed. Res.
Other
*
$
and due from U. S. Treasury
notes
,
.
.
cash*
'
•
V
801,465
'•
:
$
$
i
1,638,600
9
1,538,439
1,258
1,280
627
1,467
14,882
17,280
12,215
14,358
37,239
16,656
4,796
11,285
11,236
24,218
8,243,239
1,288,342
1,657,138
814,960
545,075
3,526,518
625,524
375,278
546,934
423,327
1,564,124
1,155
513
152
64
125
125
85
10
18
35
40
93
10
49
2,023
99
42
'•
!
Total
Bills
reserves
...
by U. S. Govt, obligations, direct and guaranteed—
bills' discounted
Other
Govt,
Total
S.
U.
bills
from
Bank
•I
74
29
125
174
2,108
109
60
771
468
343
500
507
93
272
131
109,078
364,773
110,798
139,060
86,951
60,063
192,099
71,570
41,870
60,502
49,307
120,729
777,300
60,270
201,548
61,219
76,833
48,045
33,186
106,141
39,544
23,134
33,430
27,244
66,706
169,348
566,321
172,017
215*893
134,996
298,240.
111,114
65,004
93,932
76,551
187,435
2,199,466
172,192
568,606
176,010
216,373
298,612
111,739
65,685
96,133
76,932
187,626
3
18
5
4
31,472
749
2,311
1,283
1,953
94,842
230,087
73,615
125,823
41,009
2,782
10,640
4,855
4,451
49,568
Govt,
securities,
3,586
12,732
3,931
5,284
24,136,503
.
—
1,468,470
9,067,633
1,548,041
——.
—
banks..—
items
premises
_——
assets
Total
direct and guaranteed
securities
and
foreign banks
Uncollected
Other
245
235
securities, direct and guaranteed:
Ped. Res. notes of other
,
553
3,440
.
Total
•
1,190
1,095
.
—
.
Notes
Due
900
2,184,100
...
1,944
47
—.
_
5,567
9,799
1,010,166
advances
Bonds
.
29
1,406,800
Industrial
U. S.
2,420
—
.
Total, bills discounted
t
,
.
discounted:
Secured
■
assets
.......
—
93,2.49
.
93,791
135,767
00
.
'
0i
2
2
6
t
1
1
4
10,087
2,638
2,724
1,994
1,234
2,355
622
3,522
82,249
39,065
148,776
45,604
25,758
46,085
35,953
62,309
2,935
1,952
2,980
2,278
1,341
2,880
1,143
2,772
3,226
2,092
6,354
2,380
1,510
2,087
1,759
4,627
2,011,026
1,049,226
684,615
3,985,970
789,520
470,806
696,475
539,737
1,824,984
,
,
see
LIABILITIES
circulation
R. notes in actual
P.
,
7,730,137
639,872
1,984,344
543,635
732,714
410,555
262,751
1,622,070
304,140
196,882
252,217
133,182
647,775
13,178,056
..................
645,866
5,828,826
754,845
982,657
475,318
321,060
2,004,688
360,467
185,261
339,275
307,233
972,560
% Deposits:
bank
Member
'($
account
reserve
320,557
deposits
Other''
Total
Deferred
Other
liabilities
Total
17,955
7,444
47,342
28,556
26,825
18,058
21,892
91,857
42,933
34,946
119,813
29,953
21,966
28,955
28,955
75,945
8,235
475,611
13,190
31,049
8,552
7,142
5,227
9,600
8,299
4,858
2,154
27,336
712,524
\ 6,755,217
898,906
1,127,776
544,758
370,592
2,177,070
428,576
242,351
391,146
360,234
1,098,647
920,637
...
22,213
96,849
15,107,797
90,002
197,863
70,721
115,483
77,401
37,429
138,435
44,771
21,758
41,574
34,642
50,558
5,036
471
1,471
403
535
418
169
557
151
146
203
183
329
23,763,607
deposits
availability items
accrued
34,022
395,378
601,253
incl.
55,402
40,381
1,442,869
8,938,895
1,513,665
1,976,508
1,033,132
3,938,132
777,638
461,137
685,140
528,241
1,797,309
.
v...
liabilities,
18,042
1,007,931
U. S. Treasurer—General account
Foreign
divs
——-
670,941 ^
22,806
CAPITAL ACCOUNTS
Capital paid in
Other
5,649
4,860
15,106
4,377
2,998
4,589
4,357
11,789
5,247
5,725
22,824
4,925
3,152
3,613
3,974
10,785
2,874
7,070
4,393
1,007
3,244
713
1,429
533
1,000
1,138
1,263
2,121
47,765
2,453
13,421
3,058
4,581
1,954
2,376
8,479
2,047
2,519
1,995
1,902
2,980
24,136,503
capital accounts..,
industrial
make
to
14,607
14,323
1,468,470
9,067,633
1,548,041
2,011,026
1,049,226
684,615
3,985,970
789,520
470,806
696,475
539,737
1,824,984
461
458
2,515
1,204
941
1,771
1,600
1,236
23
3.133
—
and
liabilities
11,781
15,144
...
capital accounts
Total
51,800
56,447
26,785
—
(Section 13-b)
Commitments
f
9,368
10,906
.
Surplus (Section 7)
Surplus
141,281
157,065
....
advances.
V
14,871
■
•
cash"
"Other
does
not
Include
Federal
Reserve
notes.
t Less
than
Three
Federal
Held
to
F.
Reserve
Bank
R.
'/'V.
$500.
Total*
Boston
+
New York
$
$
$
$
2,070,082
664,929
8,089,430
Atlanta
v
9
764,578
281,576
9
359,293
25,057
85,738
21,737
31,864
22,837
18,825
639,872
1,984,344
543,635
732,714
410,555
262,751
8,211,000
675,000
2,085,000
590,000
770,000
450,000
290,000;'.
4,987
900
1,190
.513
675,900
2,086,190
590,513
Minneapolis 4 City-
$
1,665,705
7,730,137
Bank
"/+ In actual circulation
St. Louis
Chicago
.
e
433,392
$
565,372
;.:
vr.
t'
Richmond
Cleveland
Philadelphia
'■
f
$
320,512
)■
j,
Kansas
of—-
by F. R. Agent
by Federal Reserve
1,501
Omitted
Bank
notes:
Reserve
Issued
Ciphers (000)
Federal
28
-
Federal Reserve Note Statement
.
—
Dallas
-
$
t
262,962
201,747
"San
Francisc*
144,578
I
713,997
43,635
16,372
4,865
10,745
11,396
1,622,070
304,140
196,882
252,217
133,182
1,680,000
329,000
203,000
265,000
150,000
724,000
,125
■
167
2,092
329,125
203,167
267,092
150,000
724,000
66,222
'
647.775
Collateral held by agent a3 security for notes issued to bank:
Gold certificates
Eligible
>
Total
v..
''000
on
hand and due from U. 8. Treasury-
paper
collateral
8,215,987 >'
' 0
00'0
* }.■:
Ci.v*..
•.
■
"
,
450,000
290,000
v,
si*:;-
m—
Bank of Germany Statement
■
770,000
V::U
.
•Vr,.U:
0000
--'T-rr-. uy,,.
rr
TiT
.
The Week with the Federal
.A:
'
.
_
The
•
customary month-end increase in the note cir-
■
Reserve Banks
■
culation of the Reichsbank, which in the quarter month
r
ended Nov. 29 amounted to Rm. 1,147,737,000, raised the
total outstanding to Rm. 16,792,897,000, the greatest since
the reorganization of the Bank and the currency in 1924.
A
year
ago
similar
a
expansion occurred but at that
only to Rm. 13,197,976,000; at the
time
the
same
date in 1939 circulation stood at Rm.
total
•Attending the
rose
10,974,103,000.
rise in the closing quarter of
month, bills of exchange and checks increased.!:
Rm.
1,230,198,000; investments and other assets rose
Rm. 2,992,000 and Rm. 94,490,000 respectively.
Other
daily maturing obligations (deposits) rose Rm. 94,329,000.
The Bank's nominal holdings of gold and foreign
exchange fell off Rm. 289,000 to a total of Rm. 77,179,000.
Following we present a tabulation of the different items
for three years together with, changes registered in the
final quarter of November:
currency
last
0;
REICHSBANK'S
(In
COMPARATIVE
thousands—000
omitted)
Nov. 30,
Nov. 30,
for Week
Bills
1941
1940
and
checks.
&
other
289
+1,230,198
coin-
Investments
77,179
77,531
13,531,656
26,133
.
•As
to
were
oblig.
50,836
997,186
2,011,416
1,870,002
1,740,721
+ 1,147,737
16,792,897
13,197,976
10,974.103
94,329
2,493,228
1,706,164
1,574,309
*537,099
637,160
599,717
+
note
clrcul'n
0.04'
Reserve System for the New York City
for the current week,
ASSETS AND LIABILITIES OF WEEKLY
REPORTING MEMBER
BANKS IN CENTRAL RESERVE CITIES
•
(In Millions of Dollars)
Excess reserves of
New York
estimated to be approxi¬
+
Dec.3
;
...
week.
-
.
were
follows:
as
-,
Loans and Invest.—total.—
1941,
,
Increase (+) or Decrease (—)
0.43%
carrying
Bills
discounted
U. S. Govt, direct,
Real
0
Loans
to
$
2,000,000
11,000,000
Indus,
oblig..
2.179,000,000
guar,
oblig..
5,000,000
adv.
(not
includ.
$15,000,000
Dec.
...
0.70^
Other
Bank
Res.
Total
Res.
Gold
Bank
Dec.4
1940
$
$
$
pur.
2,671
2,659
2,372
3,768
2,986
906
905
671
2,545
473
86
1,885
679
676
;/+87i.V'
26
27
19
320
42
40
3r
52
52
22
22
85
88
285
284
384
%
on
153
+153
104
32
bills
163
•v;
104
+
31
:
463
notes
States
9,905
87
loans
Treasury
12,151
391
banks
Treasury
465
404
410
;
117
V
56
•
20
26
388
319
1,571
1,572
'973
3,340
bonds——..
3,339
2,796
Res.
90,000,000
+
6,000,000
31,000,000
credit
2,289,000,000
+
5,000,000
23,000,000
11,000,000
+
~70
322
150
152
139
853
841
763
+
3,000,000
159,000,000
13,178,000,000
+
52,000,000
10,717,000,000
+ 150,000,000
with
1,554
112
112
101
1,465
1,277
365
365
377
5,021
banks..
vault
in
Balances
Other
1,597
1,440
with Fed. Res.
5,006
6,713
1,239
1,251
1,192
79
84
90
41
41
44
89
89
82
299
277
276
325
dom.
317
338
41
41
46
10,370
10,511
10,195
2,303
2,290
2,046
498
497
509
109
119
83
1,074
1,058
1,003
banks.
assets—net
943,000,000
3,233,000,000
1,605 '
securities
Other
2,000,000
10,000,000
guaran. by the
Government—
S.
U,
credit.
stock
Nov.26
1941 + 1941
Obligations
commit.—
3)
estate
United
1940
<
2,542
loans
$
6,000,000
Govt.
S.
for
securities
Dec. 4, 1940
Nov. 26, 1941
$
Cash
0.59%
Sept. 30—latest available.
loans
Other
Dec. 3, 1941
Dec.3
3,772'
Open market paper
Loans to brok. & dealers
Since
Dec.4
$
13;i32
Commercial, lndust. and
agricultural
loans.—.
Other
1941
$
"'Chicago
City
Nov.26
mi;
■■
Assets—
Changes in member bank reserve balances and related
Chicago member banks
issued in advance of full state¬
ments of the member banks, which will not be
avail¬
able until the coming Monday.
36,226
58.316
...
Federal
member banks and also for the
in circulation and a de¬
mately $3,860,000,000, an increase of $60,000,000 for the
U.
matur.
liabilities
of
Dec. 3
374,437
Propor'n of gold & for'n
curr.
on
10,147,793
153,463
94,490
circulation
daily
member banks
Below is the statement of the Board of Governors of
the
76.794
18,989,848
LiabilitiesOth.
of $11,000,000 in gold stock.
money
Since
2,992
Other assets
Other
crease
$150,000,000 in
Returns of Member Banks in New York
and Chicago—Brokers'Loans
offset in part by an in¬
of
;
*122,411
—
Advances
in
currency,
crease
1939
*25,167
of exch.
Notes
$3,000,000 in Treasury
-Relchsmarks—
bullion
and
Additions to
member bank reserves arose from decreases of $119,000,000 in Treasury deposits with Federal Reserve Banks,
$15,000,000 in Treasury cash, and $69,000,000 in nonmember deposits and other Federal Reserve accounts,
and increases of $5,000,000 in Reserve Bank credit and
_
:
bank
member
items during the week and the year ended Dec. 3,
Nov. 29,
Assets—
Silver
ended December 3
increased $52,000,000.
balances
reserve
;
f
Loans—Total
STATEMENT
Changes
Gold
the week
During
1,680,000
?
—
22,770,000,000
-
Liabilities—
Foreign Money Rates
t:
In London open market discount rates for short bills
11/32%, as against 11/32% on Friday
of last week, and 1 1/32—11/16% for three months' bills,
as
against 11/32—11/16% on Friday of last week.
Money on call at London on Friday was 1%.
on
Friday
were
Treasury
currency
Member bank res. bal...
Money
in
circulation-
2,180,000,000
Treasury cash
Treasury
Reserve
dep.
other F.
with
Banks
Non-member
R.
-
15,000,000
—
+
—
976,000,000
2,148,000,000
24,000,000
Fed.
—:—
deposits
321,000,000
-119,000,000
+
66,000,000
Time
deposits—adjusted
deposits
U.
Government
S,
Inter-bank
Domestic
1,897,000,000
-
69,000,000
—
89,000,000
Capital
746
761
705
357
'29
3,706
3,611
3,771
591
deposits.
404
•
-
deposits:
banks
Foreign banks
Borrowings
Other
&
accounts—
Demand
accounts
•
598
617
9
8
7
292
r
liabilities
279
305
16
16
16
1,537
1,530
1,506
282
281
266
-
THE COMMERCIAL & FINANCIAL CHRONICLE
-Number 4016
Volume 154
1389
"
Course of
Weekly Return of the Board of Governors of the Federal Reserve System
Sterling Exchange
steady, and with¬
in dull trading.
The range for sterling this" week has been between
$4.03 % and $4.03% for bankers' sight, compared with a
range of between $4.03% and $4.03% last week.
The
range for cable transfers has been between $4.03% and
$4.04, compared with a range of between $4.03% and
The market for sterling exchange is
out feature.
The free pound is firm
The following
Dec.
g
4, showing the condition of the 12 Reserve Banks at the close of business on Wednesday.
The first table
presents the results for the System as a whole in comparison with the figures for the eight preceding weeks and
with those of the corresponding week last year.
The second table shows the resources and liabilities separately
for each of the 12 banks.
The Federal Reserve note statement (third table following)
gives details regarding
transactions in Federal Reserve notes between the Reserve agents and the Federal Reserve banks.
$4.04
a week ago.
Official rates quoted by the Bank of England continue
unchanged: New York, $4.02%-$4.03%; Canada, 4.434.47 (Canadian official, 90.09c-90.91c per United States
dollar); Australia, 3.2150-3.2280; New Zealand, 3.22803.2442.
American commercial bank rates for official
sterling continue at 4.02 buying and 4.04 selling.
In London exchange is not quoted on Germany, Italy,
or any of the invaded European countries.
Since July
26, exchange on China and Japan has been suspended
by Government order.
In New York exchange is not
quoted on any of the Continental European countries
due to the June 14 Executive freezing order.
Exchange
Japan and China was similarly suspended on July
26, but trading in the Shanghai yuan was resumed on
on
Aug. 4 under special Treasury license.
3,000,000 men ranging in age from 18%
subject to compulsory military service
under the powers requested by Prime Minister Churchill
on
Dec. 2.
In addition he sought authority to draft
women into
the territorial and air defense auxiliary
to
will
51
be
services, and stated that unmarried women from 20 to
30 would be employed to release men for mobile duty.
In seeking to mobilize virtually the entire adult pop¬
ulation, Mr. Churchill stated that the equipment crisis
is "largely over and an ever-broadening flow is now
assured."
Owing to the acute shortage of manpower,
he said, the system of reserving men from military ser¬
vice by occupational groups will be replaced by a sys¬
tem of individual deferment, based solely on the relation
of the man's work to the war effort.
"The severity of
what
not be underrated.
The pop¬
ulation is 46% millions. Of these, 33% million—16 mil¬
lion men and 17% million women— are between 14 and
is
required
COMBINED RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BANKS AT THE CLOSE OP
Three Ciphers (000)
must
of age. Making allowance for the increase of
population, we had already reached by the 27th month
of this war the same employment of women in the in¬
equal conscription of wealth and property, starting with
nationalization of all munitions industries, transport and
mines.
Sir John Alexander replied
that inefficient munitions plants
over
for the Government
have already been taken
business and property to promote
Gold
Repeal of sections of the Neutrality Act (Par. C, Sec.
a day, according to United States
Commission, and production will reach 2 a
month at the rate of 1
Maritime
by the middle of 1942.
Six million tons will be
built next year and more than 1,200 ships of about 13,day
500,000 tons deadweight are scheduled for completion by
the end of 1943.
The output of steel ships in 1942 and
1943 will be more than three times that of 1917-18.
tank strength, Britain, the
United States and Canada will have to produce 30,000
To match present German
tanks by
Nov. 12,
✓
$
ctfs.
hand
on
1941
U. S. Treas.t
Oct. 29,
1941
1941
Other
1941
*
y: :-v
*
Total
20,553,016
19,594,780
20,554,021
20,556,533
20,557,032
20,557,030
20,559,027
15,496
11,515
15,344
13,553
13,737
14,555
236,263
274,483
258,491
259,193
243,661
258,143
13,424
275,188
13,289
267,533
20,827,856
20,829,273
20,814,430
20,829,728
20,847,639
20,840,851
20,804,775
—
19,880,778
discounted:
;■
■
oblig., - direct
guaranteed
-
■.*—YyYY.YY;.
Secured by U. S. Govt.
.Y YY
-V Y
.
„
and
-
3,147
1,585
2,589
1,355
2,420
2,550
3,320
Total bills discounted*
5,567
4.135
5,909
7.569
9,995
10.039
1,406,800
1,295,900
1,406,800
1,406,800
777,300
899,500
777,300
'<
4,974
9,799
777,300
advances
Govt,
and
20,525,032
20,560,02
£■#■>
20,501,030
14,153
250,498
243,391
20,789,683
20,758,431
14,729
^
.
•,
4
3,619
S.
1941
.
.
v,
Y
„
;
,
-
-—-—
U.
Oct. 8,
.
discounted-
bills
Other
1941
*
;■
;—
reserves
3,
Oct. 15,
,/v;. 1941:
(Fed.
cash*
Bills
DEC.
Oct. 22,
1941
and
BUSINESS
Nov. 5,
____—
&
2,561
2,134
1,744
3,861
3,863
3,410
6,422
5,997
5,154
3,545
7,762
10,065
10,033
9,772
9,570
9,273
9,087
1,406,800
1,406,800
1,406,800
1,406,800
1,363,800
1,363,800
777,300
777,300
777,300
777,300
820,300
820,300
2,184,100
2,184,100
2,184,100
1,351 i
2,194
1
1,487
1,591
'
6,275
,
9 389
J
10,971
direct
sec.,
guaranteed:
Bonds
Notes
.....
Total U. S. Govt, sec.,
&
direct
and
sec.
2,195,400
2,184,100
2,184.100
2,200,004
2,199,1.13
2,184,100
2,200,587
2,184,100
2,200,130
2,184,100
2,207,104
47
__
47
47
47
47
47
47
36,908
36,065
38,217
35,734
38,271
40,674
'38,717
1,243,860
foreign banks.
from
Fed.
2,184,100
2,199,466
guaranteed
bills
Total
Due
Res.
1,010,166
773.326
32,634
3,027,780
Bank premises
41,009
41,193
41,060
Other assets
49,568
56,253
48,8l>2
24,136,503
22,979,362
24,178,243
31,472
items
Uncollected
assets
Total
2,199,026
'
-Y:;MYr47YY
.
.
'
" 47
.
47
.
of other
notes
banks
20,661
948,526
908,253
993,098
1,072,061
1,433,599
896,730
41,086
40,955
40,900
40,840
40,754
47,102
46,110
40,945
45,605
40,983
47,733
44,417
44,118
44,944
24,398,026
24,087,712
24,063,385
24,162,094
24,233,845
24,550,096
23,983,781
,
Liabilities
Fed. Res. notes in actual
7,730,137
5,773,207
7,612,074
7,579,039
7,520,360
7,475,059
7,385,166
7,352,047
7,350,851
7,299,503
13,178,056
14,153,573
13,125,840
12,941,831
12,706,697
12,594,430
12,631,591
12,748,587
13,321,390
13,290,448
circulation
Deposits—Member banksaccount
reserve
....—
U. S. Treas.—General
320,557
254,916
1,007,931
1,132,478
601,253
575,976
15,107,797
440,327
598.465
806,749
933,220
914,827
977,178
258,814
304,023
1,029,393
1,046.242
1,129,262
1,147,151
1,188,259
1,165,164
713,133
660,297
674,213
1,189,409
720,534
1,140,505
648,302
659,405
731,908
711,401
16,116,943
15,243,868
15,304.671
15,303,005
15,456,361
15,525,675
15,500,371
15,471,036
920,637
714,660
943,708
1,136,372
886,211
15,349,014
861,573
942,331
978,741
1,321,876
836,100
5,036
4,972
5,525
4,999
5,201
4,818
5,192
4,388
23,763,607
22,609,782
23,805,175
24,025,081
23,714,777
23,690,464
23,789,050
23,860,851
141,281
157,065
26,785
47,765
137,890
151,720
26,839
53,131
141,352
157,065
26,785
47,866
341,324
157,065
26,785
47,771
24,136,503
22,979,362
24,178,243
91.1%
90.8%
14,871
6,505
3,247
194
258
2,055
320
781
account
Foreign
Other deposits...—
Total
deposits
items
avail,
Deferred
—
dividends
L
liabilities
Total
V
incl. accrued
Other liab.,
4,186
4,307
24,177,284
23,610,948
141,173
157,065
141,155
157,065
47,828
,
Capital Accounts
Capital paid in
(section 7)
(section 13«b)
Other capital accounts
Surplus
Surplus
A substantial part of the
-
.
141,284
141,259
141,248
157,065
157,065
157,065
26,785
26,785
26,785
47,783
47,787
26,785
47,935
47.896
26,785
47,789
24,398,026
24,087,712
24,063,385
24,162,094
24,233,845
24,550,096
23,983,781
91.1%
91.0%
91.2%
91.3%
91.3%
91.1%
91.0%
91.2%
14,735
14,574
14,657
14,175
13,238
13,574
13,580
13,673
3,166
225
438
•
141,302
157,065
1,609
240
608
6,215
8,923
Y
26,785
£ 60,000,000 expended by the
payment for requisitioned South African
securities is expected to be invested in industrial and
in
gilt-edge securities.
Speculative interest grows with
expanding purchasing power in the face of restricted
spending outlets. The hoarding of currency and the use
of bank notes instead of checks are held, accountable
to some extent for the persistent expansion in note cir¬
culation, which has increased by about £117,000,000 in
the past year and by £ 170,000,000 since the beginning
of the war, and necessitated on Dec. 3 a third £50,000,000 increase during the current year in the fiduciary
issue, bringing the total to £ 780,000,000 or about $3,120,000,000.
British financial observers state that, the ex¬
pansion in currency circulation since Sept. 1939 is less
in Britain than the 39% increase in the United States,
while Canadian circulation has risen 81% and Germany's
*
48%.
opinion is strongly opposed to any relaxation
this time of the economic blockade of Japan, in view
British
the
failure
of repeated
concessions to
restrain ag¬
gressive Japanese policies in the Orient. It is thought in
London that Japanese military supplies are insufficient
for more than a year of war.
As of Oct. 27 Colombia
has been included in the list of
arrangements for the opening of
Central American accounts apply, according to a notice
countries
to
and
accounts
capital
to de¬
posits
which
by the New York
27. Another Bank
of England notice, dated Oct.» 30, states that ships' dis¬
bursements and port dues in Spanish ports are subject-
by the Bank of England transmitted
Foreign Exchange Committee on Nov.
Fed.
and
note liabil.
combined
Commitments
Industrial
-
moke
to
advances
Distribution
Maturity
and
Bills
Res.
of
Short-Term
Securities—
1-15
days
bills
disc....
16-30
days
31-60
days
bills
bills
disc
disc..:.-
61-90
Over
343
378
v
360
139
472
;
143
754
203
147
3,545
7,762
10,971
3,129
394
692
621
5,203
3,105
2,788
2,816
2,569
377
398
392
390
332
.321
550
671
415
421
187
.,-w3.67
403
693
540
423
649
560
5,630
5,229
5,637
5,520
5,536
5,455
10,065
10,033
9,772
9,570
9,273
43,000
43,000
43,000
43~000
2,184,100
2,184,100
2,184,100
2,184,100
2,184,100
2,141,100
2,141,100
2,184,100
2,184,100
2,184,100
2,184,100
2,184,100
2,184,100
2,184,100
2,184,100
6,064,953
291,746
8,005,755
7,953,846
7,901,975
7,816,607
7,761,865
7,734,850
7,709,349
7,678,873
393,681
374,807
,381,615
341,548
376,699
382,803
358,498
379,368
7,730,137-
5,773,207
7,612,074
7,579,039
7,385,166
7,352,047
7,350,851
7,299,505
6,176,500
8,136,000
8,072,000
8,047,000
7,901,000
7,886,000
7,836,000
8,211,000
7,796,000
2,770
5,111
4,151
5,558
4,175
2,563
6,946
4,987
9,940
7,905,175
7,888,563
7,842,946
7,805,940
1,816
321
302
82
5,518
9,799
7,569
2,184~100
2,195,400
2,184,100
2,184,100
2,195,400
8,089,430
"
adv
daye ind.
days
adv
ind. adv..
Industrial
adv—
(V
3,056
659 . ..
431
595'.
5,254
- -
;
10,039
9,995
2,575
9.087
securities,
guaranteed.
Govt,
direct and
days
1-15
16-30
days
31-60
days
61-90
days
Over
761
997
-
1,643
3,111
731
137
593
5,227
days Ind.
8.
536
5,154
5,909
days ind. adv.—-
Total
669
Y 522
■i
1,963
4,135
days Ind. adv.—-
0.
156
572
2,424
5,997
3,042
5,567
——-
1-16
90
137
572
1,954
178
1,902
16-30
Over
293
653
6,422
262
717
tills disc
31-60
61-90
2,826
354
4,974■
251
1,617
*>Uls
Total
1,753
2r989
379
2,138
days bills disc.-
days
90
days
90
Govt,
S.
U.
Total
—
se¬
and
direct
curities
guaranteed
British Treasury this week for interest on the 3 % % war
and
liabilities
Total
cloubled to insure a Hitler defeat.
of
$
Nov. 19,
1941
due from
July, 1943, Lord Beaverbrooke stated on Nov.
authorities place current United States
than 2,000 planes a month
and assert that by the middle of 1942 deliveries will
reach 3,000 to 3,500 a month.
War Department officials
say that output of Allison liquid-cooled engines used
in the fastest pursuit planes will reach 1,000 units a
month by Dec. 17.
OPM Director Nelson asserted on
Wednesday that American defense production must be
at
1940
$
Redemption
fund
Reserve notes)
Aviation
aircraft production at more
loan
1941
Ratio of total res.
2) requiring transfer of title of shipments to any country
designated by the President as a belligerent is expected
to ease some of the shipping delays incident to such
transfers.
New merchant ships will be launched this
30.
Nov. 26,
and that the Government will not hesitate to use
its full powers over
the war effort.
*
Dec. 4,
Assets
65 years
dustry, services and forces as in the 48th month of the
last war."
The proposal to conscript manpower brought
a demand from the Parliamentary Labor Party for an
Dec. 3,
Omitted
Industrial
An additional
_
was issued by the Board of Governors of the Federal Reserve System on Thursday afternoon,
Federal Res. No*es—
Bank
R. Agent—
Fed. Res. Bank.
Issued to Fed. Res.
by
F.
Held by
In actual
359,293
circulation-
7,475,059
7,520,360
Collateral Held by Agent
as
Security for Notes
to bank—
issued
Gold
ctfs.
on
due from U.
By
hand and
S. Treas..
eligible paper
—
V;
:
7,988,000
5,177
"
Total collateral
tThese
are
—
certificates given
f^e SrSving0
to the
8,215,987 *
'
8,141,111
profit
for the
quarter of 1941 vir¬
accepting ap¬
plications for the first quarter of 1942. Since general
application of the navicert system early in 1940 a number
of countries have been excluded from the area.
Ship¬
ments are no longer approved for Finland, Greece, Bul¬
tually filled,
British consulates are now
Yugoslavia and Hungary. Switzerland
is subject to special precautions to prevent goods in¬
tended for the Swiss from falling into Axis hands.
French West Africa is likewise in a special category.
The principal destinations for which navicerts are now
generally granted are Liberia, Portuguese Guinea, Re¬
garia, Rumania,
gold taken over from the Reserve banks when the dollar was
certificates
being
by the Treasury under provision,
the voluntary, rate of exchange.
quotas for the last
7,993,177
8,052,558
8,076,151
fh?eunl£dSState8°Tr(5asury
been appropriated as
official, instead of
With navicert
y
6,179,270
union,
worth
less
to
the
extent of
the
difference,
the
differ-
of the Gold Reserve Act of 1934.
Spain, Spanish and Portuguese Atlantic Islands
and Sweden.
The Egytian
Government launched
a
£10,000,000 ($40,-
000,000) cotton loan on Dec. 1 to finance the purchase by
the
Government of half the
1941-2 cotton crop.
The
than
supplementary defense appropriation bill of
more
$8,000,000,000 reported by the House Appropriations
Committee
lease
The
*
other half has been taken by Great Britain.
on
Wednesday assigns $1,556,496,246 to lend-
supplies, with a possible $500,000,000 more for that
purpose.
Committee
Hearings were continued before the House
on
Merchant Marine
(Continued
and Fisheries
on page
1390)
on
the
THE COMMERCIAL & FINANCIAL CHRONICLE
1390
Course of
•
Sterling Exchange i |
(Continued from page 1389)
O'Leary and Oliver bills to compel the handling of lend-
Pursuant to the requirements of Section 522 of the Tariff Act of 1930,
the Federal .Reserve Bank is
now cer-
v
tifying daily to the Secretary of the Treasury the buying rate for cable transfers in the different countries of the
world.
We give below a record for the week just passed:
lease freight other than actual
munitions by American
freight forwarders.- W. D. Davies as spokesman for a
large forwarding group urged that the Maritime Com¬
,
'
FOREIGN EXCHANGE RATES CERTIFIED BY FEDERAL RESERVE BANK TO TREASURY UNDER TARIFF ACT OP 1930
/
•
mission should be
Saturdays December 6y l 941
-
*
authorized to control lend-lease and
NOV.
•
28,
1941,
INCLUSIVE
1941,
TO DEC. 4,
-
.
; -
•
similar shipments of American merchandise.
Mr. Davies
that lend-lease officials suggested the system
by which the British Ministry of War Transport directs
the movement of all lend-lease freight in this country.
He stated that British interests are building up a control
of American export shipping which will eventually force
established United States companies out of business. The
New York State Chamber of Commerce in a report by
its Committee on Foreign Commerce declared that many
American exporters and British importers may be forced
to disband their organizations because of diversion of
business through lend-lease operations by Government
agencies.
"Should these organizations, so important to
promoting foreign commerce, be disbanded, the rebuild¬
ing of normal foreign trade after the war will be senoifely handicapped. Experience has shown that the practice
by the Government of short-circuiting exisjng trade
charged
channels is often not the most economical
or
Noon
and Monetary
Country
Nov. 28
EUROPE—
*
8
t
t
'
t
t
:
t
t
t
.;
'L.
:
4.035000
4.035000
4.035000
t.y.
4.035000
4.035000
4.035000
4.035000
4.035000
t
t
.r—
:
"
»
"
t
■
I
4.035000
t
t
"
•
:
t
-
"
•
t
-v..
t
■,
s
•
t
rr
t
V
t
...
■
I
t
1
-
t...
t
t
§
:
<
t
t
.
t
■t
t
escudo
t
.
t
;
;
t
.
■
t
1
t
•
t
Norway, krone
Poland, zloty
i
;t
,
{
>
t
•
.
V
t
t
—
•
'
t
;
t
Netherlands, guilder
t
.
j;
t
;
t
t
•
t
t
:
'
t
—-—
/
.
,
t
—
—
pengo
Portugal,
t
4.035000
t
Italy, lira
efficient.
'
$
t
'
reichsmark
drachma
Hungary,
Dec. 4
t
4.035000
—
Germany,
Greece,
Dec. 3
<
4.035000
————
• Free
Finland, markka
Y>
France, franc
i
j.
t
•
Dec. 2
5
t
t
Denmark, krone ——
England, pound sterling
Dec. 1
$
"•
t
'
•"
Value In United States Money.
Nov. 29
$
Belgium, Belga
Bulgaria, lev — a,—
Czecho-Slovakia, koruna
Official
Buying Rate lor Cable Transfers In New York
;<••••:
Unit
t ,:*
/
!
§
S
*
Dealers
have
the
facilities
and
peseta
Spain,
speedily and efficiently the commodities in which they
specialize.
The practice of eliminating these channels
not only causes unemployment but can seriously jeopar¬
dize the handling of future international business, which
is a very important branch of our economic life."
Gen¬
eral George R. Spaulding, of the Lend-Lease Office, out¬
lined Administration plans for the construction of docks
and warehouses at key positions throughout the country
to facilitate transport of the materials to points of rail
t
leu
Rumania,
training for handling
Sweden,
Switzerland,
or
foreign
banks, which were begun,, under general and special
licenses, when the bill rate went above %%, serve to
increase the supply of excess reserves and deposits and
if
continued would offset the recent decline in
§
i
i
■
dinar
:■
'
5
I
.
I
s
t
>
t
.
.
t
§
•
t
'
•
ASIA—
«;<■■■ s
Ohefoo dollar (yuan)
China, Hankow dollar (yuan)
—..
China, Shanghai dollar (yuan)
China, Tientsin dollar (yuan)
Hong Kong, dollar
:..——_
India (British), rupee-.:————..-a;Japan, Yen
Straits Settlements, dollar
China,
i
t
•
t
*
.
.
• ■ ■.
•
•
'
t
■
i
t
•
'
>
i
.8
.
t
1
1
.■
,
8
S
Si"
t>"Y
t-
,
s
9
.
,
t
5
.
-
i
••
§
'
t
,
v '
.250875
v
—
t
.250875
,
.301513
.301513
•
t
—
.
'
.
.250875
•
•
.
.301513
.,
* T
.471600
.
.471600
.250875
.
t
v-1
t
.301513
j
t
.471600
:
•!';
.250875
.301513
,
t.
.471600
'
■
.250875
.
.301513
V
.......
t
.
-.£:>■
t
t
.
t
.471600
.471600
AUSTRALASIA—
pound—
Australia,
Official
New
excess
3.215033
.
.
..
...
3.227833
pound
Zealand,
3.228000
3.228000
——
Free
...
Bankings circles note that the expenditure of
f
'*'vl
*
;
•
,3,215033
'
/f*
3.228000
3.215033 T ;
;
3.227833
,•
•
^
3.980000'
^
3.228000
,
3.215033
3.227833
3.980000
3.227833
,
c
-
3.228000 4
3.215033
3.228000
>
■
3.227833
AFRICA
Union
1 : >
■
3.215033
,
.
r
such foreign funds has the same effect on the money
market as new gold imports, as they are made from
reserves.
t >!
>
s
———
Purchases of United States Treasury bills by
t
franc
Yugoslavia,
shipment.
ocean
.
...
——
,
t.:
.
§
—
krona
:
--3.227833
.
'
of South
3.980000
Africa, pound
<
Canada, dollar—
Official
:
'
3.980006
.886Q15
.909090
Free
Official
Free
.909090
.909090
r-
.882916
!
.909090
885703
•'
:
-i/
.205425
-
,
'*''<90909#
.909090
-
.882500
.
".-V
(
.882083
,
■
.883541
*
.29.7733*
.297733*
.297733*
'.237044*
.237044*
-
297733*,.
.297733*
.297733*
237044*•
v
■
.237044*
.237044*
; r
»06fi575^-5'
&&•»&»;
■
•
.882916
,
.237044*
•
Official
.Free
.205400
,
,
—
milreis—
Chile,
•
-
;
-
—
Brazil,
884531
.205400
-
,
Argentina, peso—
issued General
License No. 42A, easing the freezing restrictions with
respect to refugee individuals and organizations con¬
tinuously resident, in-the United States since June 17,
1940.
Prior to the amendment, General License No. 42
i
required compliance with both residence and domicile
requirements. The Treasury decided to ease the restric¬
tions, after making a special study of census reports of? foreign-owned property filed on Form TFR-300, because -r
of difficulties experienced by many refugees in obtaining
immigration visas or in otherwise statisfying the domicile
requirements. Persons licensed under General License .
"N0. 42A are required to fil§ census reports of their
United States assets on Form TFR-300.
Filing of re¬
.909090
.885000
vi
•
.205400
.
<909090
.
.883750
—...
SOUTH AMERICA—
The Treasury Department on Nov. 27
.909090
.885468
.205425
,,
dollar
Official
program.
;909090
;.885390
,
.205425
...
Newfoundland,
1.909090
.909090
-
■
Mexico, peso
'
■
—
Free
di¬
touring the Federal Reserve banks of Chicago,
;
■
..
Officials from the Treasury's foreign funds control
are
"
AMERICA—
NORTH
earmarked gold or, from funds, on deposit with the Fed¬
eral Reserve banks.
vision
3.980000
i
•
Cleveland; Denver, San Francisco, .Dallas, New Orleans,
and Atlanta, to discuss with bankers the complicated
provisions and regulations under the freezing control
::
3.980000
v
j.060575*
* i.j.
.051310*'
.051135*
—
.060575*
>
.
>
■
.051310*.
.
.060575*
•
i:
??«tf06Q575*
.051310*
t
.051310*
:
.051310*
peso—
•
'
Official
——
Export
Colombia,
5
W::.
!
■
vrv;: s
^ v-*
t
i
.570100*
.570100*
peso
J'4J;'
.570100*
,
,
f
.569950*
.569950*
.569950*
Uruguay, pesv
Controlled
Non-contrelled
-
•
Nominal
i.658300*
:
.506666*
_—
rate,
f No
rates
.658300*
.
rv.<658300*<
.
.52QOOO*--
.525200^
"
;658306*
•
* *
-.S25206*
-
omitted..
! Temporarily
available.
.658300?
;
Weekly Return of the
'
turns
on
Form TFR-300
closed on Nov. 28 and the ?
was.
comprehensive inventory of foreign assets is expected ;
to disclose $10,000,000,000 or more of foreign-owned
A group
of New York commercial banks have report¬
edly asked the Treasury to amend general licenses gov¬
erning foreign trade transactions to protect outstanding
letters of credit.
Foreign shippers, especially in South
Netherlands Indies,
.
ASSETS
confirmed
New
The Treasury
Department's recent order to withhold payment on letters
of credit issued to finance shipments of goods to French
North Africa has caused shippers to fear sudden revo¬
cation of general licenses which would freeze their funds
in blocked accounts.
Unless the situation is speedily
corrected, bankers fear that foreign trade will be thrown
into confusion since New York is now the only important
foreign exchange market.
A clarifying Treasury ruling
is expected to be issued promptly.
The Canadian dollar receded slightly during the early
part of the week in light trading. The unit moved down
from 88.62c on Friday to 88.44c on Tuesday, but recover¬
ed to 88.75c on Thursday.
The Canadian price ceiling
The danger of inflation
clearly explained and the Government is con¬
fident that it will receive willing cooperation from both
business and the public in its efforts to keep the Can¬
adian
war
effort within manageable costs.
Prices may
for any com¬
not exceed maximum levels prevailing
modity between Sept. 15 and Oct. 11, except in the case
of fresh fruits, vegetables, and greenhouse products.
The
adian
Dominion
Bureau
of Statictics
states
that
imports during Nov. increased to
$140,319,038, an increase of 29.6% over Oct. 1940. Im¬
ports for the 10-month period were 35,4% over last year
at $311,081,000.
Imports from the United States totaled
$99,860,000 in Nov., against $74,349,000 in Nov. 1940,
bringing total imports from the United States for the
10 months to $816,404,000, against $600,750,000 last year.
was
funds
investments—total
and
-
///
$
6
.1,483 13,174
783^-4,186
29,693
11,266
and agricul. loans
Commercial Indus,
Rich¬
land
mond
$
$
At-
St.*
2,700
300
97
428
6,602
413
.
159
220
106
43
28
16
389
29
18
15
198
31
19
78
191
50
2
31
147
427
secur
536
carrying securs.
•!,
428
17
■
1,384
:
Fr'laso
9
45
38
»
I
-675
2.606
864
>267
460
360 a.1,162
144
288
249
23
2
29
48
^
<
13
51
TJ
501
469
289
•'
912
,
6
'
4Vv;
13
187
San
•.<.
City/ Dallas
-I
$
4,071 '<■929
425
1,975
or
i'-M
f
798
332
39
loans for purch.
Real estate loans
Other
"
1
-apolis
■■
1
889
2,315
566
Mne.- Kansas^
Louis,
lapta Chicago
872 "
1,388
■
1,259
Open market paper—.——
Loans to brokers and dealers in
H
-■
v/'
n
60
16
mu
38
33
11
144
26
2
5
5
59
•
« 500
23
388
198
■•>
'
'
to banks
Loans
Other loans
by
U.
S.
Govt
Cash
i
V
i
•
4
137
176
95
67
422
9
25
11
19
287
10
7
25
47
1,627
29
201
80
50
264
43
17
46
43
73
433
3,618
418
770
282
129
1,279
225
137
113
124
818
1,711
1,610
99
174
113
269
273
68
112
564
113
41
128
485
5,195
542
761
319
191
1,653
264
118
244
62'
2,921
155
227
1,188
71
24,452
1,487
11,342
226
1,134
797
10
;
396
380
574
domestic banks
-
3,335
—
116
80
97
■
63
293
'
69
92
32
;:/<■•
43
40
170
61
340
184
578
'
113
192
5,428
with
assets—net
88
206
113
■
45
vault
in
3
47
3,692
10,534
—
Reserve with Federal Reserve Banks
Other
—
8,344
Other
Balances
571
1
950
•
—
Treasury notes
United States bonds
Obligations guar,
securities
■
2,520
Treasury bills
26
58
30
18
87
16
9
16
15
211
363
264
247
613
195
105
288
302
328
92
44
53
74
22
17
20
32
290
1,268
1,831
713
557
3,455
636
373
669
623
1,498
246
744
210
194
1,010
191
110
142
133
1,088
21
31
29
43
147
21
2
21
•;'/ 29
563
440
394
191
484
.322
,
31
LIABILITIES—
Demand
deposits—adjusted
Time deposits
United
States
Inter-bank
Government
deposits
63
deposits:
banks
Domestic
-
Foreign banks
Borrowings
.
.
..
9,250
-
V
368
Capital accounts
3,918
;
;
-
Y
i;
600
1
468
.
6
286-
1
16
24
1.656
252
219
395
1,423 V,
mmm
;
■T
-
51
103
"
•w—
17
100*
471
«
9
2
2
22
4
815 <
3,705
-
20
660
,i
!—
Other liabilities
low
are
States
taken from the weekly statement of the United
Department
a
exports which fol-
of
ended Nov. 26, 1941.
Gold
Commerce
.
and
.
Imports and Exports,
and
base
-
,
bullion
Mexico
—
—
of
Refined
Bullion
and
-
•
.
^
Inclusive
*
Imports
*$1,639,095
17,830,385
and coin
Detail
the week
'
V
Ore
Refined bullion
cover
Nov. 20 to Nov. 26,
"
Canada
ranged during the week between
discount of 11%% and a discount of 11 5/16%.
The amounts of gold imports and
$;
ASSETS—
Loans
Loans—total
$280,496,801, compared
with $279,887,786 last year.
Montreal
Cleve-
■
431"
1
7
9
100
64
421
1
1
•* —
23
•
20
-
" -a'"
A
6
111
•:
94
393
Coin
$141
•< ;.
$13,786,431
4,000,562
Liberia
4
<
has
received
much
less
than
half
the
lend-lease
aid
apd Nov. and is uneasy as to future
deliveries elicited from official quarters
ment that there has been
no
only the com¬
change of policy with re¬
43,392
Gold held under earmark at the Federal Reserve banks was increased
during
Exchange
Supplemental Defense Bill provides $78,000,000 specifically for aid to Russia.
In addition General
Marshall strongly advised diversion of new tanks to
Russian Army use* where not required for American
ground forces. Reports published this week that Russia
new
promised for Oct.
Imports
———
—
Exports
Continental and Other Foreign
The
the week ended Nov. 26 by $10,202,375 to $2,109,271,606.
spect to Russia and that, the Maritime Commission has
made
-
350
:
Can¬
merchandise
Total external trade for Oct.
delphia
77
law went into effect on Dec. 1.
has been
Phila-
York
Boston
Total
Districts-
Federal Reserve
1941 *
(In Millions of Dollars)
_
are
by their local banks.
WEEKLY REPORTING MEMBERJ8ANKS IN 101 LEADING CITIES BY DISTRICTS ON NOVEMBER 26,
LIABILITIES OF
AND
•
refusing to ac¬
cept irrevocable letters of credit of New York banks
unless
''
themselves.
property in the United States.
America and the
vFolIowing is the weekly statement issued by the Board of Governors of the Federal Reserve System, giving the principal.items of resources and liabilities of- the reporting member banks in lot leading cities from
/which weekly returns are obtained.
These-figures are always a week behind, those for the Reserve banlur
J
especial arrangements to transport the supplies
>:y
,
W^ich the President has promised to §end to Russia. On
Wednesday President ' Roosevelt formally declared that
"the defense of Turkey is vital to the defense of the
United States," giving the signal to expedite lend-lease
shipments by whiqh it is hoped to strengthen Turkey's
^resistance to Axis demands and to prevent a German
drive through Turkey against Egypt, the Russian Cauca¬
sus, or!the oil fields of Iraq and Iran.
It is understood
that the United States has been providing since last May
a
large part of the arms with which Britain has ful¬
filled its commitments to Turkey and that this method
supplying Turkish military meeds
of
,
;
period.'
'
the
.
w
of
returns
the
entire
changes
for
the
ended
week
posits-adjusted, and
Pursuant
to
the
•
.
vallotment.
,
Demand
in the New York
York
City.
$3,395,000,000, for 2,600,000,000 ounces of silver, was
to reach 'the prescribed ratio'.
The United;
States Treasury has bought $259,226,000 of silver from
Mexico between Jan. 1, 1934, and Sept. 30, , 1941.
requited
The Argentine
unofficial or free market peso closed
against 23.9Q./, The Argentine official peso is
-pegged at 29.77.
The Brazilian milreis closed at 5.20,
:
against 5.15. Chilean exchange is quoted' nominally at
:
5.17, against 5.17.' The. Chilean export peso is quoted
nominally at 4.00, against 4.00.
Peru is nominal at
15.75, against 15.75. The Mexican peso is quoted nominally at 20.65, against 20.65.
' ;
.
lat 23,90,
Nov. 19,
1941
383,430,600
566,321,000
566,321,000
049,574,000
568,606,000
568,321,000
052,371,000
F.
of the boycott by the United States,
Netherlands Indies, according to an
analysis by the National Industrial Conference Board.
The country is now confronted with the likelihood of
losing all her trade through enforcement of a complete
-embargo in the event of further aggression.
Japan's
military expenditures in the fiscal year 1941 comprised
about 70% of the total national budget.
By the end of
11940 average wholesale prices were 58% higher than in
1936 and retail prices had increased 66%..^.';; >
>±■£7,
Shanghai1 yuan closed at 5.50,, against 5.50 on
of last week, / The Hongkong dollar closed at
5/16. against 25 5/16; Manila at 49.83, against 49.83;
The
Friday
25
^Singapore
■»30.35; and
.at.47&, against 47,feBombay at,30.35,' against
Calcutta at 30.35, against 30.35.
Govt,
S.
U.
from
se¬
direct
and
.....,...
and
securi¬
Bank
premises
Other
assets
ing
for
F.
R.
U.
1941
Nov.
+
19,000,000
2,138,000,000
+
+
9,000,000
+
31,000,000
1,975,000,000
3,000.000
1,000,000
251,6ba6o6
950,000,000
52,000,000
166,000,000
>'2,520,000,000
28,000,000
659,000,000
+
21,000,000
+1,446,000,000
6,000,000
17,000,000
+
214,000,000
+
+
168,000,000
2,921,000,000
3,692,000,000
__
574,000,000
3,335,000,000
'
Liabilities—
Demanddeposits<---ad-
~
justed
,' '
deposits
S. Gov't deposits—_
Time
deposits:
1,471,000
liabilities
liabilities
1,443,000
•
—;
56,447,000
53,326,000
7,070,000
•7,109,000
13,515,000
15,638,000
...
and
9,092,815,000 10,528,042,000
9.067,633,000
...
to
note
does not include
bank notes.
Federal reserve, notes or a bank'a
Reserve
-
United States Treasury lor th»
given by the
less to the extent of the difference, the
appropriated as profit by the Treasury
Gold. Reserve Act of 1934.
worth
ing
naving
been
—1,604,000,000
+
34,000,000
rr
12,000,000
—
'+
.
22,000,000
52,000,000
+
-+•
—124,000,000
1,000,000
+
407,000,000
v
.+'
^it-
during the week in the
discount rates of any of the foreign central banks.
Present rates at the leading centers are shown in the
11,000,000
3,000,000
,
table which follows:
!.
Rale in
Fre-
Country
yious
Date
Effect
Rate in
: Effective' Rat^
Mar
1, 1936
Argentina
-
3V2
Chile
1940 2ft5
Dec
1, 1940 6
2ft Mar 11, 1935 —
3
Dec 16, 1936 4
>
Colombia
4
2
Belgium
Bulgaria
—
Canada
statement issued by the New York City
The weekly
!
,
Statement of members
"
is given in full
'
.
Danzig
'
of the New York Clearing House Association
Dec. 4, 1941.
<.
•...,
business Thursday,
♦Surplus and
Net Demand
Undivided
Clearing House
♦Capital
Members
Profits
Deposits
>
Average
Trust
Time
Cent. Hanover
&
England
Estonia
Finland
France
Germany
Average
Greece
$14,741,000
Dec.
58,607,400
897,373,000
52,147,669,000
780,288,000
40,986,600
75,947,300
cl,138,576,000
80,558,000
360,587,000
27,637,000
15,000,000
10,000,000
109,278,000
788,228,000
11,175,000
Irving Trust Co.__
Continental Bank &
50,000.000
53,997,200
743,276,000
5,583,000
4,000.000
4,551,600
71,539,000
(13,137,955,000
45,901,000
Co.
Fifth Avenue
Bank
500,000
4,301,800
Co.
25,000,000
85,319,210
Trust
Bankers
Guaranty
Title
100.270.000 140,711,400
Bank__
Nat.
Chase
;
Trust Co.
—
6,000,000
Com.
Nat.
Trust
Public
and
1,397,600
Nat.
1,268,700
16,712,000
Co.-,
5,000.000
10,215,700
158,375,000
2,961,000
12,500,000
28,093,100
457,645,000
37,841,000
7,000,000
8,984,900
146,759,000
1,264,000
♦As
7,000,000
11.125,300
110,437,000
54,766,000
$518,661,200$967,515,600 $15,747,246,000 $764,102,000
per official reports; National, Sept. 30, 1941; State, Sept. 30,
trust companies, Sept. 30, 1941.
$284,116,000 (latest available
date) ;* b $66;590,000i+(latest
available date); c (Dec; 4)
$2,799,000;
d$94,639,000 (latest available date); e (Nov. 29) $24,975,000. '
. . s
Includes deposits
Rate
1941
3
India
3
No?
28,
1935
3ft
4ft May 18, 1936 5
Italy
3.29 Apr
Japan
3
7, 1936 3.63
14, 1937 4
Jan
Jly
Norway
Poland
1939
May 28,
1935
4ft
3
May
13,
1940
4ft
7
4ft Dec 17, 1937 5
4
Mar 31, 1941 4V«
___>
Portugal
Rumania
15,
6 ft
___
__
3
Switzerland
Sep 12, 1940 3ft
May 15, 1933 4ft
Mar 29, 1939 5
3
May 29, 1941 3 ft"'
1 ft Nov 26, 1936 2
Yugoslavia
5
__
South Africa
3ft
*4
Spain
Sweden
.
1,
Feb
Discount Rates of the Federal
1935 6ft
n
Reserve Banks
changes this week in the redis?
Reserve banks; recent ad?
vances
on
Government obligations are shown in the
footnote to the table.
The following is the schedule
of rates now in effect for the various classes of paper
at the different Reserve banks: ..
- ^
There have been no
count
of the Federal
rates
Discount Rates of Federal Reserve Banks
in foreign branches:
a
Date
%■:%
Established
Rate in Effect
Dec. 5
New
1
Philadelphia
Richmond
.
>
City
*
Dallas
Francisco
•Advances
-•
..
on
1V2
*lft
*lft
lft
.
r.
.-
<
1ft
«
lft.%..
2
4,1937
May 11, 1935
Aug 27, 1937
Aug 21, 1937
Aug 21,
2,
Aug 24,
Sep
3,
Aug 31,
Sea
3,
Sep
*lft
Minneapolis
Kansas
%
*lVa
Chicago
St.
Louis
Rate
1, 1939
Sep
lft
lft
'lVz
—
—
Previous
Aug 27, 1937
.—^—lft
Atlanta
San
Sep
1
—
York
Cleveland
Totals ;
1941;
26,
confirmed.
2,408,000
Bank
Trust
6, 1940 4
4, 1937 7
vious
-
Effective
3.. Oct 22, 1940 4
Morocco
1936
2,
74,202,000
Bank &
Co.,_
3ft Apr
6
Jan
Boston
■
Trust Co.,—
Y.
1,
Federal Reserve Banks
'
Trust Co.
~
4,478,000
Midland
Marine
N.
58,364,000
el,234,606,000
&
.
-
Jun
Hungary
Java
1933 5
1937
Oct 16, 1940
Jun 30, 1932
Oct 26, 1939
Jan
105,944,000
21,000,000
First Nat. Bank___
Trust
18,
3ft
5
4ft
3ft
3
4ft Oct
1, 1935 5
4
Dec
3, 1934 4ft
13A Mar 17, 1941 2
Jan
92,561,000
Bank
Co
5
8,141,000
188,375,200
20,288,200
& Trust
2ft
......
33,734,000
Bank
Exch.
Jly
Not officially
158,810,000
90,000,000
41,891,200
Co
Trust
684,200,000
02,581,784,000:
__
Erie
Deposits
20.000.000
Co.
Guaranty Trust Co.
Manuf. Trust Co.
Corn
$232,873,000
5,
Date
Effect
-
Holland
Lithuaniau„„ 6
—_
Denmark
•
Bank of N, Y,—
$6,000,000 $14,353,100
Bank of the Man¬
27,343,600
hattan Co.
20,000.000
83,767,300
National City Bank, 77,500,000
Chemical Bank &
Jan
Czechoslo¬
vakia—-
House on Friday afternoon
below:
;
There have been no changes
-V.
+ *17,000,000
—
Foreign
Central Banks
i
c
53,000,000
266,000,000
r
.660,000,000
4,000,000
——
Discount Rates of
.
Weekly Return of the New York City
Clearing House
of
difference itself
under the provi¬
of the
Dec. 5
close
711,000
458,000 *
458,000:-
458,000
gold taken over from the Reserve banks when the dollar was, on Jan.
31. 1934, devalued from 100 cents to 59.06 cents, these certificates be¬
Country
at
94.3%;
94.1%
94.3%
in¬
These are certificates
•
Clearing
51,687,000
51,796,000
7,070,000
13,421,000
advances
Federal
own
8,963,987,000 10,400,882,000
51,800,000
56,447,000
make
to
t "Other cash"
-+-260,000,0002,263,000,000
5,428,000,000
797,000,000
9,250,000.000
banks
Domestic
_■
* ''***
24,452,000,000
..
.
Foreign banks
Borrowings
.
7,000,000
—
.
..
•
Interbank
31,000,000
+
160,347,000
1,496,000
domestic
with
banks
-U.
+173,000,000
10,534,000,000
8,700,850,000
203,606,000
8,938,895,000
capital accounts
of total reserves
sions
banks
6,803,058,000
/
Accounts—
dustrial
Federal
vault
636,297,000
458,303,000
paid
Commitments
1,000,000
39,000,000
403,080,000
6,755,217,000
197,863,000
items
and F. R.
liabilities
combined
32,000,000
428,000,000
.'95,426,000
526,259,000
dividends
Total
Ratio
77,481,000
55,402,000
395,378,000
475,611,000
including
in
(Section 7)
Surplus (Section 13b)
Other capital accounts
69,000,000
1,259,000,000
securities
in
1,538,242,000
7,528,769,000
Surplus
128,000,000
Obligations guaranteed
-by U. S. Gov't
Reserve
1,955,827,000
deposits
availability
liabilities
Capital
1,691,000,000
—
8,344,000,000
Balances
9,092,815,000 10,528,042,000
5,778,293,000
Acct.
accrued
4,791,000,000
+
+
—
Cash
15,882,000
1,984,344.000
.........
deposit
,
with
9,712,000
12,676,000
5,828,826,000
acct.
$
1,000,000
____
bonds—ir.
Other
10,659,000
clr-
bank—res.
Deferred
27, 1940
536,000,000
Treasury notes.
Reserve
actual
in
...............
Total
30,000,000
Treasury bills
S,
192,994,000
Treas.—Gen.
S.
Other
+
banks
to
257,119,000
9,067,633,000
Foreign
deposits
(—)
427,000,000
loans
loans
Other
1,500,000
230,087,000
10,640,000
12,732,000
........
....V....,'.
Other
pur¬
securities
Loans
2,645,000
............
notes
eulation
carry¬
or
18,000
2,311,000
Liabilities—
and
brokers
chasing
Items
Total
—
6,602,000,000
dealers in securities
Real estate
18,000
banks
other
of
18,000
banks..
foreign
notes
R.
Uncollected
agricul¬
tural loans
loans
1,783,000.
266,144,000
Member
37,000,000
+
11,266,000,000
Open market paper
Other
1,014,000
905,000
1,095,000
di¬
364,774,000
Due
indus¬
;
i ports as a result
Britain, and the
1,190,000
1,095,000
.......
201,547,000
Capital
Loans—total
Loans to
503,000
364,774,000
-'Total; bills
Since
■.
29,693,000,000
and
:
guaranteed:
guranteed
investments
,
Exchange on the Far Eastern countries is dull. Japan
has suffered the loss of about 75% of her normal im-
discounted.
securities,
curities,
,
$
.
—total
trial
511,000
40,000
;
201,547,000
ended Nov. 26, 1941, follows:
Nov. 26,
Commercial,
865,000
35,000
advances
Total
of the principal assets and liabilities of
'/Assets—
'
'
-
.
Since
t
,
1,155,000
Deposits:
<
Increase ( + ) or Decrease
and
9,655,505,000
and
Total assets
■"
of Mexican silver a
directly from the Mexican Gov¬
ernment caused a competitive demand to develop for
the metal; for industrial use.
On Nov. 29 Handy &
Harman,
bullion dealers, raised their price to 35 %c
.from 35c an ounce* the price, since June 17; 194Q. : The
monetary policy declared under the Silver Purchase
■! Act of *1934: requires Uhitedr States monetary stocks to
'^consist of one-third silver and two-thirds gold.'. The
-^United States has spent $1,383,600,000 in the purchase
v" o.of foreign and domestic silver between Jan. , 1, 1934,
»wand Sept. 30, 1941.
On Sept. 30 the gold stock amounted
to $22,760,500,000 and silver to $4,191,800,000, of which
silver represented
15.6% and gold 84.4%. • Another
8,241,377,000
........
bills
rect and
City and $124,000,000 at all reporting
week and the year
■
1,483,066
63,124,666
J
Bonds
reporting member banks together with changes for the
materials
at 35c an ounce
1,130,000
50,756,000
discounted...
Govt,
S.
;
summary
Loans
-■
Notes
district outside of New
member banks.
A
r
Govt,
U.
bills
Total
U.
Deposits credited to domestic banks declined $76,000,000 in New York
s
9,590,989,000 t
8,243,239,000
S.
direct
by
Industrial
City, $57,000,000 in the Chicago district, and
$71,000,000
Dec. 4,1940
;
-
:
R.
reserves
obligations,
in
$191,000,000
S
•
v"
8,189,491,000
discounted:
at all reporting member banks.
increased
business
48,771,000
guaranteed
deposits-adjusted
Federal
of
961,000
Secured
$260,000,000 at all reporting member banks, and declined
U.
\
:
19 agreement of the United States Treasury
F.
—
ties
'
purchase up to 6,000,000 ounces
,;to
month
'
Bills
York City and $28,000,000 at all reporting member banks.
New York
the
of
close
Nov. 26, 1941
3, 1941
s
casht
Holdings of Treasury notes declined $26,000,000 in New
;
Latin Amer>ican cquntries, which previously obtained most of their
requirements from Germany arid England. Existing tin
export licenses are revoked as of Dec. 15 and future
'licensed shipments will be charged against the total
1
in demand de¬
Chicago district, $22,000,000 in the San Francisco dis¬
and $52,000,000
the
at
•
Holdings of Treasury bills increased $24,000,000 in the
tinplate for export during 1942 to
The Nov.
,,
Other
district, and $30,0000,000 at all reporting member banks.
trict,
condition
8,193,507,000
Notes
agricultural
$17,000,000 in New York City, $12,000,000 in the Chicago
'in the interest of hemisphere
tons of
fund
Dec.
■
hand
on
Commercial, industrial and agricultural loans declined
defense, the Supply Prior'"'♦■ities' and Allocation Board at the request of the Economic Defense Board on Dec. 2 allocated 218,600 metric
:
Redemption
Other
in unoccupied France
policy of sharing critical
'V'':
certificates
.
,of letters of credit.
York
due from U. S. Treasury*
decrease of $124,000,000 in deposits
a
the
New
Assets—
Gold
credited to domestic banks.
;available for payments, other. than the importation of
goods, such as for bonds ancl debenture".commitments,"
it is reported in the "Commercial Intelligence Journal."
"It is reported that all import restrictionsihave been lifted
; in Bolivia except the quota. system: applicable to auto¬
mobiles.
As exchange may now be; obtained without
-limitation, some exporters are using sight drafts instead
.
member
Total
Federal Reserve Banks and $260,000,000
shows
of
1941, in comparison with the previous week and
the corresponding date last year.
;;
+V
loans, increases of $173,000,000 in reserve balances with
.
cr
and
industrial
Bank
Dec. 3,
26: A decrease ol
Nov.
following
Reserve
for the
leading cities shows the following principal
$30,000,000 in commercial,
*
r
of reporting
body
The condition statement of weekly reporting
banks in 101
"
.
The
week ended with the close of business Nov. 26.
.
•
°' New ^or'{
of Governors of the Federal Reserve System re¬
specting
will be continued,
.
New security issues
be found the comments of the
member banks of the Federal Reserve System
amounted to
629,000,000 francs in Sept., compared with 608,000,000
Ifrancs in Aug. and 1,232,000,000 francs in July.
The
monthly average in 1940 was 164,000,000 francs and in
H939 was 380,000,000 francs.
The statement of the Bank
;Of France issued on Nov. 30 as of Nov. 6 showed an in¬
crease of 2,400,000,000 francs in provisional advances to
the State, approximately 7,000,000,000 francs less than
/ the designated limit of 70,000,000,000 francs. The 1941
.fbudget.deficit of at least 66,000,000,000 francs is increased
.by occupation costs of 122,500,000,000 francs. The budget deficit has been met up to now entirely by the is^suance of Treasury bonds. The, Bank of France note
^circulation increased from 218,000,000,000 francs to 255,000,000,000 francs between Jan. 1 and Oct. 31.
jExchange on the Latin American .countries disclosed
continued strength in the Uruguayan peso, which reached
;53.25 in Tuesday's trading. - The advance was ascribed
;td release of funds in a thin market. Brazil has been
.able-to liquidate the frozen exchange agreements made
in 1935 and a fair amount of exchange; has been made
i
the following will
Board
Germany is now spending at
<
Condition of the Federal Reserve Bank
Member Bank Condition Statement
In
the rate of $40,000,000,-.
|000 a year, as much as the total German expenditure
during the two war years, according to Mr. Otto Jeidels,
former vice president of the Berliner Handelsgesell•schaft.. Two-thirds of this sum is obtained by taxation
iand the rest by short and long-term borrowing.
The
Heich debt will equal the 1918 total by next spring, de¬
spite tax collections three times those of the entire
World War,
The effect of the war indebtedness will not
be felt, he asserted, either in Germany or the other bel¬
ligerent countries, until the war is won or lost. The
•last war left Germany with a crushing, debt of 150,000,000,000 marks.
The present funded German debt rose
from 52,494,700,000 marks on June 30 to 58,062,600,000
marks on Sept. 30.
The floating debt advanced from
45,028.500,000 marks to 52,755,000,000 marks for the same
i
>
1391
THE COMMERCIAL & FINANCIAL CHRONICLE
V
Volume 154 .'Number 4016>
Government obligations bear a
Sept. 1, 1939. Chicago; Sept. 16, 1939, Atlanta,
Sept. 21, 1939, St. Louis.
..
• /
-••••
1937
2
2
2
"
*
2 v+r
1937
2
2
1937
1937
;
2
1937
1937
2
2
rate of 1%, effectlvo
Kansas City and Dallas;
1392
THE COMMERCIAL & FINANCIAL CHRONICLE
THE COURSE OF BANK CLEARINGS
Bank
clearings this week show
Pre¬
liminary figures compiled by us, based upon telegraphic advices from the chief
i cities of the country, indicate that for the week ended today, Saturday, Dec. 6,
clearings from all cities of the United States from which it is possible to obtain
i weekly clearings will be 20.2% above those for the corresponding week last year.
Our preliminary total stands at $7,732,872,103 against
$6,434,953,843 for the same
week in 1940.
At this center there is an increase for the week ended Friday of
15.0%.
Our comparative summary for the week follows:
Fifth
W
j
S.
:
___
2,688,916,957
+15.0
289,640,025
411,000,000
+31.1
224,303,653
+23.2
Boston
Kansas
St.
,
City
<6 cities)
San
Francisco
1,324,996
+ 22.5
82,958,168
71,343,231
25,753,492
24,701.341
223,155,549
„
182,413,410
+22.3
163,395,639
142,531,498
4,087,807
4,558,172
3,788,604
21,492,480
21,300,849
^20,142,336
77,800,000
65,200,000
58,000,000
Baltimore
Other
cities,
Total
.
all
All cities,
Total
5,374,218
five
days
cities,
:
week
for
cities)
948,924,045
+21.4
5,331,560,457
6,434,953,843
Mich.—Ann Arbor
Detroit
+20.9
+16.8
be estimated.
»
Haute
degree were St. Louis with a gain of 29.9%, Chicago with 27.7% and Philadelphia
with 27.1%.
Increases were also shown in the Kansas City Federal Reserve Dis¬
trict of 23.7%,
i
furnish
a summary
Federal
■*'
-
1941
Districts
Reserve
300.918
122,878,795
111,662,145
3,821,729
+
6.8
3,144,807
3,136,225
1,470,902
+33.4
1,394,917
1,815,376
+38.7
1,791,663
1,008,907
21,294,000
+18.0
19,813,000
20,589,000
2,305,732
+26.9
6,112,461
+44.6
5,827,222
5,033,708
21,287,830
+ 14.0
20,073,414
20,754,130
1,083,639
+35.9
1,679,194
Cities
12
10
7
1,059,988
1,229,404
8,768,766
+29.9
9,520,880
10,257,178
+
18.1
3,627,241
3,665,456
354,392
5,439,093,;
346,465
910,233
334,418,701 ::+ 27.9
1,162,616 +162.1
3,047,380
—
+48.8
325,825,843
1,231,121
4,596,854
293,506,922
4,500,484
20.9
+
,1940
<
(18
cities)
1,234,500
+47.7
1,209.725
1,128,951
1,360,165
+25.3
1,304,512
1,401,356
746,826,627
585,838,510''
+
27.5
525,557,250
'
*'•
Louis
Cleveland
5th
Total
107,100,000
+
30.6
58,768,226
43,133,761
+
36.2
34,686,737
33,458,899
41,783,851
34,684,029 i
+ 20.5
27,333,273
1; fi 20,815,631
:__
Ninth
Federal
105,300,000
3,340,289,760
+21.6
3,780,082,992
441,735,508
371,352,514
+27.1
+35.3
455,551,756
363,398.878
182,413,410
209,631,853
+ 22.3
585,838,510
185,677,790
+27.5
+29.9
163,395,639
181,781,839
525,557,250
142,531,498
168,272,750
483,277,967
167,845,010
146,782,530
+22,7
+23.7
+31.7
+37.3
102,134,315
139,055,374
73,490,496
269,788,553
104,965,300
134,295,519
67,498,768
266,485,269
+25.0
6,495,709,927
4,063,306,816
"
561.565,202
"
502,414,852
"
223,155,549
"
277,162,582
"
"
746,826,627
4
"
149,947,766
—
_
6th
Atlanta
7th
Chicago
8th
St
9th
Minneapolis
I
Louis
>
241,270,077
+32.2
10
"
6
"
99,827,826
10
"
397,299,038
122,186,277
148,173,717
75,774,563
289,411,229
112 cities
7,812,358,191
6,221,697,488
818,000
Reserve
760,000
7.6
525,000
708.000
185,677,790
+ 29.9
167,845,010
146,782,530
+
District—Minneapolis
Minn.—Duluth
3,750,371
97,229,384
^
3,374,842
+ 11.1
2,795,217
2.875.437
78,375,067
+ 24.1
65,242,799
69.445,062
39,035,633
Minneapolis
31,695,741
+ 23.2
26,823,569
2,270,725
25.286.278
2,434.267
Paul
D.—Fargo
D.—Aberdeen
3,653,105
1,301,652
2,795,630
+ 30.7
1,110,393
1,007,711
1,086,566
+
2.2
858,769
837.366
3,867,228
3,850,720
+
0.4
3,386,696
3.260.438
149,947,766
(7 cities)
Outside New York City———
3,890,756,288
2,996,696,416
+29.8
2,830,884,113
456,213,321
382,671,662
+19.2
341,704,162
352,740,400
Tenth
City—
11th Dallas
—
Francisco
183,299,758
Federal
..
122,186,277
+22.7
102,134,315
104,965,300
-
Canada
32
—
cities
District—Kansas
+ 29.2
756,540
add
detailed statement
our
>i:'
':v
'
:
1941
,-r;.
,
_it
;A;,: A■
-
1940
■
%
Fall River
»
__
Lowell
New
——-
,
—.
Bedford
Springfield
N.
538,930
612,306
+ 48.3
1,758,253
+ 38.8
234,018,790
2,451,784
242,454,705
659,717
+ 26.6
709,687
626,441
339,592
+
227,571,088
(10
Wichita
Y.—Albany
—
:"v.
—
—
——-
New
—-
+
51.1
1,703,352
2,125,246
+
0.4
12,954,391
4,750,216
12,533,214
+ 22.6
N.
Utah—Salt
—
893,570
San
J.
—
—
+ 37.4
1.365,511
1,505,322
60,722,849
+ 29.5
+ 42.0
58,596,000
6,822,909
51.143,513
7,636,417
Santa
<12
cities)
—.
11,521,700
12,076,700
1,167,338
1,111,845
3,375,936
75,774,563
+31.7
73,490,496
67,498,768
41,180,893
34,142,012
1,129,390
Francisco-
68,689,055
Bethlehem
+36.1
273,627,825
8,705,352
—32.8
1,118,153
+ 35.3
1,358,398
37,600,000
City
+ 15.4
1,291,540
+ 39.3
32,112,474
19,217,902
+ 29.3
17,359,150
4,163,093
+ 38.2
4,038,007
24,848,369
Beach
:
5,755,435
.
584,553
+ 33.1
656,843
890,164
3,664,825,814
9,182,136
483,084
+ 13.9
40,300,000
+
6,313,286
+ 21.6
3,225,001,072
9,805,370
7,621,034
+
28.7
4,647,858
+
9.9
5,371,990
403,685
2.4
—
-
715,717
3,695,378,268
+ 34.3
3,117,645
164,388,000
+ 26.6
2,945,372
1,525,435
+
5.2
1,521,232
2,458,147
+ 25.5
1,834,240
397,299,038
289,411,229
+37.3
f 269,788,553
266,485,269
7,812,358,191
6,221,697,488
+ 25.6
6,495,709,927
3,890,756,288
6,315,146.324
2,996,696,416
+ 29.8
2,830,884,113
2,619,768,056
3,084,264
Total
(112
New
cities)
York
4,604,494
A
V..;: 1941
A
Canada—
Winnipeg
Ottawa
19,847,297
—
,
!
30,955,666
3,340,289,760
+21.6
3,780,082,992
3,804,000,282
.York
N.
+
378,636
+ 14.8
392,041
41.1
436,895
495,178
412,672
401,139
1,500,366
395,000,000
1,255,882
+ 26.8
442,000,000
2,033,855
—43.0
1,606,323
1,415,781
2,087,424
+ 18.5
2,350,809
2,660,824
J.—Trenton
1,008,466
1,588,168
969,428
1,075,412
1,503,671
—————8,347,900
1,161,797
3,779,900
561,565,202
441,735,508
.
480,094
9.9
1,225,737
+ 29.4
120.8
1,193,614
4,619,500
4,001,000
+27.1
455,551,756
408,492,733
—
+
<10
Fourth
cities)
Federal
Reserve
Ohio—Canton
Cincinnati
Cleveland
Columbus
District—Cleveland-
4,562,418
2,573,011
4,456,782
2,348,382
5,386,069
4,705,508
6,779,360
+
6.6
6,544,230
6,075,765
1,973,963
1,908,851
2,394,688
+ 10.9
1,652,678
—
—_—_~————.—-----
——
Youngstown
Pa.—Pittsburgh
11,984,700
+33.6
1.991,616
+19.2
1,667,524
1,478,008
2,278,273
129,151,466
4,136,073
211,366,877
3,128,326
157,253,709
+32.2
3,158,290
+34.4
158,537,832
10,916,300
Total
<7
Cities)
502,414,852
371,352,514
+35.3
363,398,878
304,279,224
302,668
530,614
+ 24.0
638,886
530,930
1,476,925
+ 10.4
1,554,750
1,189,053
*482,250
465,306
674,198
+ 10.4
928,247
+ 11.9
683,319
815,214
872,252
+ 24.6
734,618
585,298
791,514
+ 37.5
.692,488
636,163
394,169
323,010
+ 22.0
238,756
216,316
566,946
+ 33.3
541,518
567,412
882,850
+
8.1
716,721
770,618
+
7.6
3,283,078
+ 21.6
550,816
+ 24.3
1,033,481
2,391,872
400,044
2,719,494
442,991
997,232
+ 46.4
579,918
+ 32.8
543,889
926,408
640,592
558.740
+ 44.6
575,345
577,335
+ 37.5
350,457
1,327,845
419,832
1,138,490
939,205
+ 21.8
440,289
1,154,168
1.137,164
456,213,321
382,671,662
+19.2
V 341,704,162
352,740,400
-
770,139
Chatham
Sarnia
Sudbury
Total
3.517,031
280,405
1,460,404
Kingston
16,011,600
2,373,753
3,881.842
4,585,234
+
1,195,746
3,992,578
Moncton
98,412,207
4,099,524
5.0
+ 14.9
811,562
Albert
117,355,100
14,376,600
+ 28.6
394,036
755,666
Windsor
+42.0
4,427,762
5,256,542
1,087,110
1,088,397
Hat
Kitchener
122,984,408
2,274,811
744,111
Sherbrooke
60,152,258
1,613,738
2,510,156
1,039,005
Westminster
66,107,449
1,483,744
657,866
Fort William
+27.8
1,416,895
0.8
7.0
1,631,215
Brantford
Prince
+
452,878
Jaw
Medicine
—
4,591,320
j—___
Saskatoon
2,196,083
1,890,712
14,846,653
8.4
Lethbridge
2.8
;
39,763,109
18,430,828
18,262,010
+ 24.8
—
2,806,845
71,202,910
+
114.472,852
66,162,593
15,745,349
+ 22.4
+
5,694,599
Regina
Brandon
174,664,585
—
Mansfield
2,884,765
96,017,627
+ 29.9
2,561,350
90,977,799
1
—
5.2
+ 32.1
+ 21.8
4,968,220
Peterborough
Total
+
120.986,333
5,578,338
Edmonton
New
1938
,
3,097,318
St. John
Moose
1939
98,249.471
6,964,418
London
370,889
+ 30.8
45,550,237
Hamilton
385,446
115,829,487
46,476,617
18,195,255
61,382,263
22,157,759
Halifax
25,478,147
0.8
%
$
104,181,439
2,188,168
1,893,955
24,346,733
+ 52.9
—
1940
7,223,601
+ 18.9
+ 20.6
Wilkes-Barre
'
r
4,023,632
413,119
20,914,927
2,474,294
Reading
3,543,059
1,702,378
1.868,386
54,550,251
5,383,205
24,653,944
513,651
;v,
136,309,210
121,826,340
Montreal
Quebec
4.6
+
•
$
Toronto
Vancouver
1,462,149
Scranton
3,912,233
170,381,000.
-
Week Ending Nov. 27
Inc. or Dec
•'
.
8,247,365
429,000,000
Philadelphia
+ 17.2
3,002,058
<10 cities)
4,414,440
3,986,725
4,313,326
544,000,000
1,160,096
Lancaster
3,112,649
(32
cities)
1,110,860
'
♦Estimated.
!"*
•':••'•
v;
857,081
■
4.922,834
"
170,598,000
3,801,086
1,604,758
Barbara
Outside
27.628,652
17.255,325
"
6,464,143
434,634
1,763,315
—»
•
3,648,046
229,120,976
31,800,000
966,192
V
—---
__
+ 54.8
1,284,411
39,667,541
1,294,458
23.1
284,264,484
——
Chester
44,381,993
1,481,781
55,265,268
Stockton
Total
3,285,000
756,386
3,089,690
York—
368,072
543,792
———————
2,860,000
7.0
1,883,162
269,212,357
Federal Reserve District—Philadelphia-
Pa.—Altoona
+ 38.2
+
+ 51.1
Victoria
Third
1,922,000
7.077,152
1,099,336
Calgary
Total
1,138,360
3,255,601
Jose
4,063,306,816
—
Northern, N.
134.295.519
99,827,826
!
Reserve District—San
—
Lake
Calif.—Long
422,155
24,869,863
37,686,541
J. Montclair
Newark
139,055,374
4,564,749
0.6
+
5,244,865
Conn.—Stamford
+ 23.7
2,656,000
San Francisco
5,106,175
-
___________
Syracuse
670.308
148,173,717
Yakima
316,930
12,769,900
-----3,921,601,903
York
Rochester
473.140
1,176,469
'
Jamestown
2,928,116
284,305
602,499
4,919,376
Ore.—Portland
757,327
+ 29.2
49,600,000
778,199
832,348
Buffalo
Elmira
3,127,338
8.8
+ 34.7
—
1,564,473
78,666,087
cities)
3,861,920
1,772,573
5,847,984
1,513,413
—
(6
310,070
4,908,707
1,966,724
561,085
____—
662,480
3,532,618
14,072,046
32,874,340
598,947
Falls
+ 57.0
366,282,098
—
Second Federal Reserve District—New
Binghamton
+ 17.7
30,111,067
10,845,421
Twelfth Federal
Grand
N.
3,431,679
+ 14.3
806,820
Dallas
+ 51.6
899,249
H.—Manchester
..
88,776,330
3.010,310
Eleventh Federal Reserve District—Dallas—
588,206
15,649,800
cities)
98,009.896
Texas—Austin
2,995,143
6,339,687
I.—Providence
<12
+ 33.7
137,278
2,637,873
183,299,758
Pasadena
2,678,515
——__
Haven
Total
3,360,501
102,920,762
106,207
—11.4
511,755
cities)
8.3
14,128,624
Worcester
R.
+ 54.2
4,541,561
—•
Conn.—Hartford
New
533,720
2,108,095
-
Mass.—Boston
•
1,229,598
2,854,957
-
Wash.—Seattle
822,862
-——
—
+ 10.5
+ 33.7
Springs
Pueblo
$
3,125,561
315,969,828
835,176
367,671
923,564
————*
-
Portland
1,590,765
131,702,370
City
Colo.—Colorado
1938
First Federal Reserve District—Boston—
Me.—Bangor
.
98,472
2,460,610
Joseph
Total
1939
91,634
4,039,113
Mo.—Kansas
showing last week's figures for each city
$
is
33,932,803
La.—Shreveport
Clearings at—
;
2.7
3,290,327
Wichita
Week Ending Nov. 29
Inc. or Dec.
t-s
1.0
+
38,795,128
1,758,192
Kan.—Topeka
Galveston
now
separately for the four years.
+
97,914
2,484,734
Omaha
St.
94,418
*100,000
2,200,650
Lincoln
Ft. Worth
We
826,402
C'ity95,403
''Hastings'':''
Total
Total
Reserve
Neb.—Fremont
6,315,146,324
2,619,768,056
10th Kansas
12th San
91,800,000
241,270,077
(4 cities)
Total
284,264,484
3,804,000,282
408,492,733
304,279,224
"
Richmond
York
1
•
139,900,000
Ky.—Louisville
Tenn.—Memphis
111.—Quincy >____
1939
273,627,825
7
Philadelphia
4th
483,277,967
''
Eighth Federal Reserve District—St. Louis—
Helena
%
269,212,357
18
New
3d
4,360,259
1,822,948
1,704,927
—
Mont.—Billings
+36.1
366,282,098
10
2d
1,114,857
Inc. or Dec.
6
Boston—
1,348,294
4,208.069
$
12
1st
1,870.014
527,287
427,843,788
-
Springfield
SUMMARY OF BANK CLEARINGS
Week Ending Nov. 29
231,604
+28.3
170,205,906
•
1,472,503
Rockford
Mo.—St.
/
8.2
+
4,968,904
a.
Peoria
N.
by Federal Reserve districts.
''
•
11,388,104
—
—
111.—Bloomington
Chicago
Total
••
8,836,867
—
—
S.
In the following we
433,242
2,925,485
-
Sioux City
St.
Minneapolis 22.7% and Richmond 22.3%.
168,272,750
...
•
1,676,777
24,272,831
\
___
Decatur
clearings for the whole country having amounted to $7,812,358,191 against $6,221,697,488 in the same week of 1940.
Outside of this city there was an increase of
29.8%, the bank clearings at this center having recorded an increase of 21.6%.
We group the Cities according to the Federal Reserve districts in which they are
located and from this it appears that the New York Reserve District (including
this city), recorded an improvement of 21.6%, the smallest of any District.
The
greatest gain was achieved by San Francisco with a betterment of 37.3%.
Boston
followed closely with 36.1% and Cleveland with 35.3%.
In the Atlanta Reserve
District the total was larger by 32.2% and in Dallas by 31.7%.
Next in order of
181,781,839
209,631,853
/A,
1,886,907
25,119,000
la.—Cedar Rapids
Des Moines
statement, however, which we present further below,
we are able to give final and complete results for the week previous—-the week
ended Nov. 29.
For that week there was an increase of 25.6%, the aggregate of
+32.2
+
2,518,322
_
Wis.—Milwaukee
the elaborate detailed
45,302,382
4,082,686
Bend
Terre
Complete and exact details for the week covered by the foregoing will appear
in our issue of next week.
We cannot furnish them today, inasmuch as the week
ends today (Saturday) and the Saturday figures will not be available until noon
today.
Accordingly, in the above the last day of the week in all cases has to
153,740
46,309,492
218,425,802
Indianapolis
South
176,571
30.1
468,885
——
-
Ind.—Ft. Wayne
+20.3
+ 47.6
1,961,815
Grand. Rapids
Lansing
-
+120.6
116,058
District—Chicago—V ":W.f
—
——
2,436,675
48,547,469
277,162,582
Seventh Federal Reserve
+20.7
1,103,393,386
7,732,872,103
(10
+33.6
—
6,444,060,086
days
Total
4,382,636,412
1,288,812,017
five
cities
—
.
5,291,991,491
1,152,068,595
day,
one
all
■
+37.2
+30.6
77,022,981
102,934,381
-f :
/
22,130,349
171,272
La.—New Orleans
days
22,964,409
997,398
63,163,850
Miss.—Vicksburg
.••
five
989,114
15,092,000
+ 39.2
+33.4
_______
cities,
860,941
28,868,323
+25.8
124,747,919
103,326,243
1,403,498
17,121,000
40,187,083
Mobile
150,042,000
134,976,061
+ 111.1
1,199,323 ;'-(+ i9.i
+ 10.8
23,715,000
122,815,182
-
1,368,718
1,428,484
200,122,000
171,118,246
Eleven
2,889,749
+ 23.2
26,281,000
154,468,923
J
Cleveland
'■
5,035,610
Macon
+27.0
1,258.238
102,400,000
—
-
Detroit
In
+ 40.2
+ 17.0
District—Atlanta—
*
L
—
Pittsburgh
'•
1,408,225
29,738,376
30,231,316
Ga.—Atlanta
+24.7
98,800,000
396,903
94,104,817
Ala.—Birmingham
92,021,452
2,874,000
41,957,785
1,974,851
Augusta
114,713,581
564,074
2,825,000
49,969,909
'
22.5
Fla.—Jacksonville
125,500,000
Louis
+
34,786,147
C.—Washington
Total
52,620,027
"+ 45.0
115,279,431
Md.—Baltimore
+31.1
1938
A.'
+ 61.4
568,965
3,973,000
64,435,888
;
'*
3,093,104,655
276,372,188
Philadelphia
V,
-
539,000,000
_.
-.; •1939
v.
'
;
Tenn.—Knoxville
379,681,456
—
.cjo
.;-v:-f:.
918,232
5,761,000
Nashville
L--_—lL-1
York
New
1940
>
District—Richmond—
-.______
C.—Charleston
D.
%
1940
1941
Week Ending Nov. 29
Inc. or Dec.
1941
--A'. '
,
Va.—Huntington
.
Sixth Federal Reserve
Chicago
_
Reserve
Richmond
'
.
Federal
Va
i.—Norfolk
Clearings—Returns by Telegraph
Week Ending Dec. 6—
Y.- j.v;<
&
,
increase compared with a year ago.
an
Saturday, December 6, 1941
SI;
i
1,132,382
265,318
.
678,301
@FedFRASER