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In 2 Sections—Section 2
Reg. U. 8. Pat. Office
'
V
'
•»-'..
■
WITH WHICH HAS BEEN COMBINED THE FINANCIAL REPORTER
New
Volume 154 t Number 3977
York, N. Y>, Saturday, September 6, 1941
^PUBLIC UTILITY
RAILROAD
INDUSTRIAL
r
Price 40 Cents
INSURANCE
•
Copy
a
MISCELLANEOUS
-
E9
Alleghany Corporation—BondReadjustment Plan Com-
Laboratories—lOrcent Extra Dividend—r
Abbott
'
declared an extra dividend of 10 centa per share in
pleted—r'-;v •• .:'r
regular quarterly .dividend of 40 cents per share on
CI '-Robert:R.lYonng,.Chairman.of..the board of the Corporation Aug. 31
stock, both payable Sepk 30 to holders of record Sept. 11./.»
have
Directors
addition
the common
•
amounts
'
Aeolian
Corp.—Earnings— .vy*.; «.« •
American
the Years Ended April
For
after
income
•1941
~i——-J$252,422
30
taxes
•
CONSOLIDATED
is
V
Ended June
Years
r;'-.
■ -
-V
'Provision. for
of
amortization
for
Provision
—<—J—
depreciation
"
r
income
credits—
and
*;
:
Federal
income
and
defense
:.
taxes__;
states
of
and
this
Co.
of
help; also came from
Guaranty Trust Co. of New York,
New York,
and The Continental
New
Stock
Co.
f* *
Exchange
**■
that
transactions
no
for delivery.-
in
bonds
such
York Stoek
bonds,
5%
"
the 5s
of 1950
bonds
unless
Exchange
(amended):
■
-
the listing • of the
15-year, collateral trust
$21,661,000 20-year col-;
fb)
The
bonds
amended
as
will
be
admitted
•
.the
to
list
or
on
1120.:
P.
v.
.
■•"■.-i.- r*:-"
July
l
prei.
Sept.
15.
cente
per
;
thare on
par value,
&
25
cents
paid
on
stock, no
Like amount paid; on
April 1 last and on
April 1, 1940; 53 cents paid on Dec." 26,
2, July 1 and April 1, 1939.—V. 153, p. 112i.
Oct.
Foundry Co.—Hearing Postponed—
the
on
;
stock
on
Oct. 1 on the grounds that preferred payprevious years have not been entirely taken care of,
common
due
from
—V.
;
American Cyanamid
-
153,
1121.,
p.
■
...
.
Co.—Registrar—
.
,
:
,
„
d
Guaranty Trust Co. of New York has been appointed registrar for a
cumulative preference stock, $10. par value,
this company.—V.
153, p. 1266.
...
>' newly created issue of 5%
of
i:, American Locomotive Co.-^-Tq Pay Preferred Dividend—
Directors have declared dividend of
$1.75 per share on account of ac¬
stock, payable. Sept.. 25 to. holders
was paid on June 19, last; dividends of $2 were paid on March 7, last, and on Nov.. 15 and Aug. 15,
.1940, and dividend of $1 was paid on May 15,' 1940, this latter being
the first dividend paid on the preferred stock since Dec.
7, 1937, when
$7 per share was distributed.
*•
>. .-... v
Following payment of current disbursement there will remain arrears
totaling approximately $42.75 per share.—V. 153, p. 1122.
the
on
7%.pref erred
o^record Sept,-10:..Dividend of $1.50
•
authorized
$29,339,000
ly 1944;
10
and
cumulations
has
(a)
Feb.
1,
Oct.
and 25 cents on
-ments
";f ■'"'"fA-".*.
bonds,- due
24,
of
cum.
record
with
*:
that
made
are
holders of
American Car
r:■■■.?
received, notice
has
to
compares
dividend
a
the
on
hearing on the application of Oscar B, Cintas for a temporary --in-Junctioa to restrain payment of a common dividend by company has
been postponed -until Sept.
11.
The hearing had been scheduled f#
Sept. 3 before Vice-Chancellor Keyes In Jersey City.
Mr. Cintas seeks
to
have
the company
restrained from disbursing a dividend of $1
of
York."
declared
•
conclusion.;* Generous
trustees,
Trust
Oct. 1
1939
which
*'• '•
• ■'
Corp.—Accumulated Dividend—
have
accumulations
1,. last,
Dec.
program
\
of
-July
foreign
seven
Capital
directors
payable
...
;
;
.
before
American
Sept.. 11 when the old.bonds wiU~.be suspended .from dealings.-r-V. 153,
135.000
-
j,
lateral trust convertible 5;% bonds, due June 1;, 1949 and (c)-$21,175,000; 20-year collatejrql .trust copvertible 5% bonds, Series of 1930, due
April 1, 1950. *
' .'■£'•.;>•/ o:","
'VV
11,724
$562,635"' r $104,560
y.#i*'
43,980.: :v
18,028,,'
deductions
Normal
in 48
holders
precaution should be taken -with respect to
assure
The New
•'
Other
6,357
bond
York
New
.convertible
$92;837
•»
'
Listing of Bonds (as amended) Authorized-^,
27,092
by
Midland
Trust
Special
to
t-f;—-
•
three
-are- available
•„
45,512
'
,
held
its" successful
following
7
24,631,
$535,543
profit
Operating
Other
83,684
/
facilt-
defense
'*.
.
.,
supple»mental indentures for e 11: bonds of the Corporation have been execusec|,
'-and directs attention :< to the fact that bonds may.no longer be with¬
drawn from deposit and that all regular transactions.:for the time
•"being should be- made only in undeposited bonds inasmueh as modified
^bonds, will not be available for-return to bondholders for A week or
''ten days.
'■
* ,'i
...,929,604 :
■i':
&
The
.
1940
2,730.156
,••-;
.
indicates the broad popular support
of the present management.
: ■
Marine
(•Bank
(
•'•■ $1,067.953
$a,374»014
;
goal
pl&iT "and
;
1941
vr
bonds
Alleghany's
'Earnings—
Co.
—
30—
sales
the
rThe
,
Aetna-Standard... Engineering
'
"Security, holders, owe much to the -constructive Judicial Interest
of Federal Judge Wincent L. Leibell In both the
development of the
'
.
;Net
statement:
■
Assets—Cash $546,498; acconnts and bills receivable, Mafter reserves):
$298,497; accounts receivable—(parent...companies and. their subs;) ;
$44,991; inventories $977,654; prepaid expenses and deferred charges
$10,588;
plant; and equipment • (after, reserve)
$336,056; patents,;;
trademarks, etc. $l^.total $2,212,285.
^ *—-J'Liabilities—acounts
payable
$112,112; - accrued liabilities,
federal
taxes, etc. $74,983.'"dividend declared payable May 2,' 1941, $188,000;.*
.'reserve for contingencies- $53,169; capital stock ($30 par) $1,000,000;.x
capital
surplus $487,000;. earned surplus since
August-1, " 1033
$297,020;-- total $2,212,285.—V.-161-, p. 1562. —
-
of
CofUitfies
1940
$179,516
1941
30,
APRIL
SHEET
BALANCE
%
- -
following
•
value
•
■Net
The
account
"Completion ; of Alleghany's Bond Readjustment Plan marks another
important, step in the simplification and rehabilitation of the former
"Van Sweriiigen properties." Assent to the plan by $47,581,000 par
.was
<
the
issued
paid on June 30 and March 31, last. .Extra of 25 cents,;
paid on Dec; 23,* 1940 and extras of 10 centa were paid on .,
Sept. 30, June 20 and March 31, 1940—V; 152, p. 3330.
v
;
Like
American
.'
the
to
HHT
>■
Machine V&
Metals, lac.—Extends
Debenture Offer—:.
^
v~.
Date
OA
■£,
'
.Federal
State
Overprovision
for
:
,
12,000
.
7
;
<
Allied Mills, Inc.
3,000
CrlO,541"".v
years—4-*—---2-2-
prior
•
-
.15,000.V
profits tax
income "taxes
L—
excess
.7*
£
7, Consolidated
■.
-
(&
A—Earnings—-
Income Account for Years Ended
1941
-=•.
--Net
(Dividends
pref.
on
Balance
Assets—Cash,($206,871;
.
,
Sheet June ,30.
1941.
receivable
accounts
and
investment?
$852,465;
;
credits
officer's
on
.
.
$62,128; property, plant and..
$1,754,542; patents and patent
earned
$649,504;
;surplus
824.
p.
stock
common
$909,330;
$100>
(par
.
contract
v
Gross
have
Directors
declared
dividend of
a
Dec.
on
1940;
$1
Sept.
15 and June
paid
Mar.
on
Dec.
on
15,
20,
1939;
- ^
Earnings for
$2.50 paid
on
7'..','
V.'7'I7
pig
coke
iron,
products
Sell.
&
shipping
royalties,
&c
Interest
and
Provision
>v
547;S28
$2,807,972
$2,178,107
$2,018,110
49,161
19,443
25,474
_7-—— $2,857,133
$2,197,550
.432,138
419,682
>'■•>407,147
59,109
765,733
40,636
15,500
; 309,915
175,201
oper.
'
*
2,467,474'
$3,863,910
2^167,919
^
*:
.543,987
;
x,
•
exchanges
for
.
,
taxes.—
b'ld'gs & mach'y •
on
/J
V
-
5,676
9,444'
$1,600,153
;
30
,
•
;
•
;
•
Cash,
1,258,069
:
1,214,381
rec.
Inventories
2,253,631
7,018,289
Prepaid
—v.-
$606,771
etc.
$1.37
.
172,812
Acc'd
98,098
1,600,000
,' 241,744
4,663,990
443,924
429,566
liab.__
280,371
859,777
415,421
$2,479,594
Operating profit
income
Other
;
81,713
——
$1,795,658
$960,671
.104,767
.
$1,398,762
22,329
18,908
*-
1940.
.v
fCap.
income
Total
Interest
$2,561,308
stock- 4,935,251
7,200,467
___
4,935,251
plant &
Reserved
for
$1,417,6 "1
&c__J
289,988
201,190
131,771
683,163
.566.828
548.181
568,132
235,833
56,969
and
101,227
791.372
taxes
$5,750,284
384.
in
debts
for
"
of
$911,816
profit
$780,240
$227,432
$641,255
Total
____15.385,935 14,106,651
in 1941 and $275,996 in
$299,746
depreciation
of
$3,614,289
tions-
Car
$
106,259
6 124,690
i__
Inventories
Advance
_
5,231,918
152.197
127.25;
Accrd.
&
in
1941
Investments.
x P r o p
1,832 118
1, 076,125
1,072,743
equip
Prepayments
&
Co.- -Gets
$134,063
Loan
15,
„
Funded
pf.
lia-
•
■
.
5,000
,
.
1,080,549
..
notes
2,514,000
2,714,000
stock 2,095,500
2,201,500
debt
After
in
1940.
de¬
rolls,
$134,003
to
lian
3,182,404
"
.
84,767
$
"*
35,090
—
38.565
31,598
$
49,677
$
48,507
30,
87,073
$
75,000
$
75,000
43,402
$
25,323
June
Liabilities—
117.046
1941
1
Liabilities
bu t
47,841
•.
v'-ilv 373
Amer;
17,107
"
'
A
944
1,000,000
•
232
154,033
5,113
sk.; 1 177,595
1,199,950
§ Class B sk.
"
253
40,000
_
Reserves
tClass
'
18,465
933
Def. credits
1,000,000
,
19,627
pay.
current
4,026
$
decl.r
u no a id
Notes
ex¬
3,937
1940
70,632
Acrrned
Dlvs. "
17,987
1,493
30
Accounts
103,480
.
50,000
$
etc.
54,687
190,686
Corp.
185,439
185,459
93,752
Surplus
171,105
and
fix. -stores
•
425,298
'"
$
30,335
1940
226,039'
rec.
Furn.
8,150
10,251
•
•(•Factories io
be
«
June
338,225
'61,933
payable —$
penses and
& def ch._
cars
1941
___^
:
;
sold
; 302,500
__
Leasehold
impts.
~
25.378
—
1' :V."-
L
1
2,800
tax
450
■*
taxes
110
•
Total _—$1,700,465
$1,640,206
After
deducting reserves,
t After
$2,500 in
shares
in
1940.
1940.
t 23,552
§ Par
no
$5.—V.
par
153,
Total —$1,700,465
$1,640,206
deducting mortgage outstanding
shares
p.
in
1941
and
23,999 no
par
235.
.
.
..
Statement
Assets—Investments,
at
of Net
value
Assets
June
30,
1941
Lists of recently declared and
;
-
based
on
closing market quotations
deposit $824,602; cash on special
on
dividends will be found
for subscription to 1% 2% year notes due April 15, 1944
dividends receivable
$16,936;
due
from
subscribers
$550;
prepaid insurance $550;- furniture and fix¬
$1: total $4,489,339.
-'
$140,000;
due
2,796,599
$
sheet
Invst in Aeo-
v
:_
tax
233,378
music
invest
'
the
$106,243
( (cost, $3,865,298) $3,481,536; cash
10,274,500
tures
2,353,145
:
..
,r
partment. " \-s,
froip brokers $25,164;
2.793,857
for depreciation of $3,558,015 in 1941 and. .$2,785,028 ^
Represented by 412,700 no par shares.—'Y. 4*152,. p. 3960.j >;
capital-stock
/
reserve
y
Ended
$
.deposit
10,274,500
-r*-33,.3U,844 mw,m*
x
Months
$
416,987'
•
253,667
com.
•
securities.
/
Distributable
§urp,
of
reconnaissance
income—
_:
332,219
370,715
-
851,525
'2,830 718
sprp.
loan
production of
152, p. 3960.
708.941
$
v-.
from
Other
Net income
$ 77,505
Dividends1 —_'
197,475
Noter—Exclusive, of
realized
and
timleau28!FEBproflts or losses .on
.
Common'
Parnefl
for the 6
interest
•«.'■
and
Due
of
.
3,003.387
___
stock
,
additional
an
the
18,260
i
239,000
1941
.____$
Inventories
Business Shares, Inc.—Earnings—
and
franchise
Other
,
5,000
bilities
-y
"
'
in
Army,—V.
Aeolian
Corp.
•
27,519
____
Accrued
Reserves
5%
Federal
State
con¬
tracts
118,850
"
used
the
Expenses
"
"
Administrator, has announced that
Corp. in connection with the national
authorized
be
Earnings
177,241
Deps. on
722,378 16,126,475
125,935
American
480,894
1940—
to
parts for
•
5,622
•A-^t.s.
.
Dividend
lia-
had
program
•$
347,945
409,878
,
Cash
From
Loan
Finance
$
;.
1938
707,107
374,887
■
•
Prepaid
Federal
company
spare
212,490
Div. pay. May "
deferred
charges
and
•
bility
&
.
this
63,350
963,508
Deferred
1 423,018
subs
fense
'
2,372,000
285,305
wages
salaries-
Jones,
Reconstruction
$
opera-
income,
Assets-
and
.
.
59,850
able
to
Advances
.
Jesse
,
Accounts pay-
177,214
__
>
$
t
1,774,000
1st mtge.
bds.
on
ext.
Plant
1940
•
loand,
see'd
_
$
Int.
pay¬
ments
contracts
•■
Bank
149,353
2.521.791
accts.
&
receiv.
•;
1941
Liabilities-
3 304.001
Cash :
Bills
,
1940
...
1939
773,340
425,395
384,412
Baler""*
Balance Sheet April 30
1941.
Assets—
from
fin.
Bantam
366,152
$
■
,
RFC—
476,651
-'12,639
;
Net profit
.* Of pianos, radios,
by 812,220 no par shares.
§ Initial
and 1940; earned surplus, $6,538,217 in 1941
H Includes $106,667 due currently.—V. 153,
'•
1940.
1940
842,803
*
______________
loss
Div. '
127,008
inc.
p.
American
Net
bad
1941
301
—__,
'(net)
■
6,412,534
t Represented
surplus, $662 250 in 1941
.
$983,000
equip-
loans,
on
Deprec.,
$1,900,425
for
$500
-Earnings-
!
$
sales
American
14,106,651
reserve
1940.
June
sales
of
Net
4,728,822
f After
$3,260,705 in
ended
years
'
gSurplus
reserve
foil, extension, jot.each
215,783
-__i.
18,347
—__15,385,935
After
to
decided
"■>v;:■
i
Operating loss on sales $
"t
Interest; rentals, income
Cost
•
shares
1
and
Total
having feiready
has
253.'.
p.
expenses,
>.
1,493,333
Reserves
10,382
equipment
Presi¬
Mumiord,
provided that it should expire on Aug. 29, 1941,
the, right
to, extend
or
renew
it.
$
,,.
fPlant
153,
-•Net
,1940 •-"
$
pay.i
1,449.752
181,574
______
G.
directors
selling and administrative
' Liabilities—
6,453,605
ins.,
______
P.
debentures
of
reserving
$0.64
1941
v:f
Accts.
Investments,
:etc.
offer
company
V 946,000
946,000
Pro. for taxes
_
of
board
holders
American Piano Corp.
11,155
;/
UNotes pay.—
.•Acts & notes
" 7
.
—
•
$
..
.
7
812,220
1940
Assets—
'
The
the
Cost
*
$1.97
$1.71
Consolidated Balance Sheet June 30
"7'^7777"
*
'
$1,393,939.;' $1,301,578
Earnings per share
■
debentures,
amount
the
-
$1,000 .debenture.* and .10
with
'
k—
1941
these
extension,
'
*'
abandoned
Nqt profit
of
encouraging
and,
debenture.
For
:•
.
holders
for
debenture
offer,,
each
$2,043,584;' $1,211,230
337,617
to
"An
It was added
that
in
its offer of extension and exohange dated
May 27, 1941, the company invited consent to the extension of the
maturity to Jan. 1, 1950, and offered-20- shares-of-4ts capital stock,
without par value,
fully paid and non-assessable, for extension,: of
$1,152,004
59,226
•
/* ing.(no par)—812,220
y.v> V\:; "''7*'
■
said:
received
additional
time
wi«liin
which
to
accept,
accordingly, the offer has been extended so as. to
expire at 3 p.m. (Eastern Standard Time) on the 10th day following
the publication by the company of notioe of termination of the offer."
-the
.
402,624
,"15,480
$5,033,512'
6hs. cap. stock outstand-
$24,600,001 $15,873,537 $10 046,877 $12,680,080
Balance
——
of products sold— 22,120,407
14,077,878
9,086,206
11,281,318
;■
7 595,407
„
1940
1939 '
1938
'
l'"7 7."
;
,:v7V. ■:••■:'■••
•
;.7 7->
& .by.
*■'■*: >•- >
».
7 • -•'"'. 7
—$25,117,776 $16,264,821 $10,344,255 $12,942,784
exps.,
'•■7
v",•• '..-7:';
7'7'77";-*77
517,775
391,285
297,378 . ; 262,703
1941
,
657,724
<■
iacoine^Z;-'
profit
Depreciation
Dec. 15, 1939; $1.50 on
1939, and $1.50 paid
Years Ended April
of rolled products,
Sales
2,820,603
profit -from
Ml Total
7
/
letter
a
been
•
preferred
5%
$2,656;
Algoma Steel Corp., Ltd.—Earnings—
;.
In
dent,
$2.60 per share on the capital
1939.—V. 162, p. 3960.
1,
•*
7
$5,480,304
2,706,790
50 cents on May 15,
1939;
$6,286,299
op.
expenses
Miscellaneous
June 14 and on March 15 last and compare with $2.50 pai$
16 and Sept. 14, 1940; $1.50 paid on June 15 and March 15,
on
from
expenses
Net
•stock, payable Sept. 15 to holders of record Sept. 5. Dividends of $1.50*7
paid
profit
Administrative
Loss
.
sales
Selling
stock (par $1) $183,416; capital
$321,731;- total $3,918,983.-~V, 153, >
-"7
Baldwin, Ltd.—$2.50 Dividend—
Alexander &
-
1938
^$32,877,786 $28,068,043 $26,011,902 $26 068,113
26,591,486
22,587,739
20,978,390 <22,204,203
-
common
surplus
>
7
30
June
,1939
-
afford
inventories
and. royalties^
$28,079: provisiof) for federal and state taxes on income (est.) $162,000;
advance from United States government $1,205,757;
reserves $39.915;<
stock
1940
Holders of the company's 4%- convertible
debentures, due Jan. 1,
(1943, have been-given- additional time In which,.ta.accept;the offer
f .to extend the maturity of the debentures to
January 1, 1950.
;
:
$796,509;
rights $l;s deferred charges $246,446; total $3,918,963.
Liabilities—Accounts payable $416,605; accrued taxes
net
sales
Cost Of
•
•-
..
Net
assets
other
(less depreciation $924,267)
^equipment
$82,633
$367,196
stock-465
profit
,
as
yet unpaid
the end of this de¬
J .v..;
.
Liabilities—ACcrqed
taxes,
etc.
and
.
accounts
payable
$11,294;
.aiqount payable for capital stock purchased $ip,783; amount dqe qh
.allotrpeni pf \%. 2% .year nptpa.clqe April 15, 1944 $140,000;: tptal
$162,077; net assets
(equivalent to $2.67 per share. on 1,622,446%
shares
'
at
of
$l
par
value
capital
stock)
$4,327,262.—V.
152, p.
1416.
.
:
Bund
tice*
redemption calls <md sinking fund no¬
mmediotely fnUm the dividend notices*
50
FINANCIAL CHRONICLE
American
Telephone
Telegraph
&
Co.—To
Offer
Archer-Daniels-Midland
Ap¬
proximately
$94,000,000 of Bonds for Competitive
Bidding Ending Banker Relationship—/
• '
.
,
Yr$. End. June 30—
Net
,
Directors
'.
broke with precedent Aug. 29 when they
decided to market by competitive bidding an issue of about $94,000,000
of long-term debentures,
although the company is not required by
law to resort to auction sale.
For several decades, all A. T. & T. se¬
the
of
company
sales
Cost
of
etc.
sales,
Depreciation
offered
written
lows;.
normal investment
through
»•
channels have been under¬
A st&tement issued by the company fol¬
by Morgan interests.
Y
/
.
Total
The American Telephone & Telegraph Co. is today (Aug. 29) pub-'
lishing notice of call for redemption on Nov. 1, 1941, at their principal
amount and accrued interest, of its 20-year sinking fund 5/2%
gold
..debenture bonds, due Nov. 1, 1943, which are presently outstanding in
the amount of $94,306,000.
As it is expected that the entire proceeds
•of the 3 V Convertible bond issue will be needed to provide for plant
extensions, the company plans in the near future to offer., for. com¬
petitive bidding a refunding issue of long-term debenture bonds, sub¬
stantially in tne amount of the bonds being called."
•
Sell.,'
tures—
6,750,021
$
578,329
$
5,825,035.
;
$ 3,845,108
$ 3,787,976
3,447,110 "
ture
-_$
Misc,
178,170
'
charges
Balance
Other
$
'//a
337,820
3,448,378
264,596
■
$
See
of
banker
the
Fed., Canadian & state
taxes
■/"
,
Common dividends
437,671
$
855,146
2,121,616
$ 3,047,015
______
;
.
$
96,250
708,391
$
The
Shs.
2,258,547
on
$94,306,000 5V2S Called for Redemption—
!
and
interest,
accrued
"bentqre bonds, due Nov.
the
of
amount
of
the
the
•extensions,
5/2%
;;
in
957,268
$
2,242,375
$
the
in
future
near
oLer
to
for
Gain in Telephones in Service—
There
-
was
The
1941
included
gain for the previous month
.'537,600
Consolidated
The gain
'
the
in
for August 1941
of
history
-having been
Bell
the
'
.
Nts.
-
Ended
Period
Operating
June
revenues
Operating
Service
Public
American
&
exps.
30—
Co.
(&
back,
>,
Other
income
Oross
Int..
income
operating
$
493,586
1,869,874
____>• 29,546
(net)
deductions
484,799
310,145
$1,000,927
:
603,924
$
"
523,132
Income
other
&
457,582
$
301,485
$
Acer.
,,/,/•';
,
1,
,494,776
1,409,481
2,713,136
assets
Goodwill,
etc.
Income
___$
221,647
$
174,654
249,653
14,699,934
provided in tne Second Revenue Act of
OF INCOME
STATEMENT
drl30,009
Ended
Period
Total
Public
(American
.♦
.■
.
'*•
>
Electtic
Co.
$170,501
income
Expenses
Service
and
Co.
Net
9,471
—
Note—Federal
>
at
income
rates provided in
taxes
$157,283
have
17,804
-
in
periods
153, p. 1266.
"death
act
Water
Works
Electric
&
54,298,000
kilowatt
hours,
kilowatt
..five years follows:
Wk.
Aug.
Aug.
1939
54,457,000
54,092,000
52,558,000
—66,639*000
30—j
-
—V.
153, p.
A
•
54,298,000
Class
is
A
unfair
stock
preferred and
1
The
,
•
to
would
one
be
1937
1938
45,413,000
46,143,000
45,764,000
r
unless
41,250,000
holders
40,860,000
exchanged for
51,118,000
.
dividends
^
-
■
■'
v'
.
belief
that
Associated
wouirt
Gas
'
under
Y/'i"'
:
Section
B1
accrued"
merger
paid
are
153/p. 1267.
,
V
*
•
'
without
Class
A
Associated
is
located
in
Maryland
or
Ohio.
If
.
the
primary
'J/'/•'> //Y
system
located
is
in
said,
stock¬
-
/The
New
1941..
1940
1939
/ - .1938, *
income—___$46,111,385 $33,3^6,878 $16,462,014 $12,741,893
605,191
552,712
459,066
517,063
Associated
Jersey,
system.
tional
in'CQme
f It
the
located
said,
Commission
expressed
might
/•'■
systems
area;;
>
properties
in
on
than
Total
income
Loss
bonds
$46,716,576 $33,899,590 $16,911,080 $13,258,956
907,422
1,152,935
1,394,409
charges
on
retired—,
>
396,835
non-operatxng
S.
U.
&
taxes
depl.
& expense on de-
Disc.
& obsol.
bentures
Res've
Net
Shs.
of
826,863
foreign income
(estimated).—(17,265,000
.Deprec.
for
&
•••
•
-
,
,
6,689
,
2,147,646
4,001,i31
/
:
67,619
"
78,265
2,000,000
—$22,974,887 $17,683,380
130,827
133,834
$7,256,034
minority interest
$4,111 090
85,098
"Consolidated
net
in-
'
Earnings
♦
per
$2.63
deduction
Without
vision, of
share
$6,900,000
for
for
U.
$7,170,336
$4,010,363
;
Loan
charges,
8 674 31ft
$0 83
depletion of metal mines.
S. excess profits taxes
-
(Includes
Directors have
Note—The
consolidated^
th^ six: mohths endeq June 30, :1941, amounted to $703,539.
4,815
5,074
4,475 Y
4,475
8,898
5,530
3,987
3,076
42,115
(2,595
(114,755
349
—$257,392
$264,156
$485,243
$229,185
stock
94,501
securs.
ofv$4vper
'
Consolidated
1941
;-■/
49,938
.___
serves
v
advs.
&.
accts
Cust.
.
share
p.
'
'
:
on
i-eceiv.
Mat's,
e.
^
the
common
both
rec
&
.
21,526
•
821,425
____
rec.
>
,
'
_
153,
*—.z.—
9,340,5?5
909,210
inc./*
__
stock
outst'g
Surplus
t-
-
.
-
2,444,150
110,855
main-
'
4,962,959
917,348
152,971
.V.
1,215,217
-
.
.
872,065
...
,..
-__12,309,490 12,309.485
_r—32,471,315; 29,136,905
60,627,
accts.
nts fed
to
tenance
410,631
_
res.
y Com.
'______ 15,953,614 12,087,137
Prepayments
/Y*'"'
& def. chgs. 1,611,217 > 913,954
Accrd.
Int. &
•'* '
""'WY ;
Divs.
accrued
1Refrig.
supp.,
'
1940
'
Res.'-for; Fed."
,'/■ & DOrti. tax 7,800,981
peferr
cred- : (
18,389
,
°.\
$
-
.
its
•*
•',tk
-Y
v.'
payable /
expenses
5,162,820
'
Sheet June <30
Spec.
.
notes
••.
z
;
Stocks,
& Nts,
other
V
p.
etc.
x
*.
'
bds.
and
---I—
Prop.,
142,674'*
■
cos.,
1,645,364
1,474,339
plant
...
13,533,568 13,838,325
eq
Goodwill
/Directors
152,
preferred Stock,
26.—V. 140, p. 964.
Accts
/'!•"/
of-Y/•//';.
"./ ;
trav-;>! //*/. -,//■;'/
exing
&
Atlantic
without
the
Y.Liabilities—
■
10,000
10,966,060
___
: liccrs
The Atlantic Utility Service Corp. reports that for the week ended
Aug. 29, net electric output of the. Associated Gas and Electric group
122,894,240 units (kwh).
This is an increase of 24,429,454 units
1267.
' /
$2 per
on
1941
$
15,968,538- /
"<•
;
Balance
Empl. and
was
ago.—V.
shares
$8,603,929.—V.
/
1940
,r
,/
-
&
year
105,002.
'
/
share
holders of record Aug.
:/
.Other
a
52,502
;
1941
■/'•■';*: //' '■/
declared-a dividend of
.
Weekly Electric Output—
98,464,786 units
105,002;
investments in capital stocks of
Beneficial
Corp. and 0L subsidiary
companies, $8,318,048*, de$127,108; total $8,603,929. /
—
CuBts.;. accts.;
r-fee. less re-r.,//;
■
.
above production of
%
on debentures retired.
1— —118,637,355
/ Marketable/
Associated Gas directly or indirectly controls
175 subsidiaries, 68
are public utilities
within the meaning of the Holding Com¬
pahy Act.. Of the others 42 are engaged in water distribution service,
■while the remainder are engaged in non-utility business.
24.8%
:
$158,774;
2 to
•
of-which
;
36,438
'
-
___
period
dividend
a
Assets—
jCash
nrn
C uaes pro-
equity in the undistributed earnings' of subsidiaries not
consolidated, and therefore not included in.the
income
accdunMor
•
199,501
34,209
stocit. (420,000
/
$0 46
$2.02
37.765
•183,465
9,728
$175,000; surplus, $2,197,819; total,
/'
one
-
39,802
/177,991
Bor^-Wafnef Gorp; (& Subs.)—Balance
SKeet-
the hearing, October 28; the Commission said
be given opportunity; to
show cause why it
part of its reduced holdings,
$865,935/. $510,789
;•" 4,861
_____
'v/ /•"' /," •;//.,
payable Sept.
'<
or
8,674 338
would
381
30,164
etc.
100,727
:
••
-—$22,844,060 $17,549,546
Shs. cap. stock (par $50)
outstanding
8,674,338
8,674,338
come
first
$495,238
taxes-
(PremiUiu
par value),
.3489, 1905.
$
not
ments as
•
•
beginning. Of
$510,408
/".V
342
"325,391
Asso¬
immediately be ordered to dispose of all interests in com¬
panies outside New York,
Pennsylvania and New Jersey.
In addir
tion, the Commission expressed the opinion that even in this tri-state
area, Associated could not keep all the various companies and invest¬
•
3,276,723
49,469
contingencies
should
1,421,028
4,068,471
-
5,316,129
the
Associated
105,387
1,089,298
■"
' *•
."
7,116,327
-
5,676,366
____________
income
______
pertaining to
units—
Expenses
At
—396,799
1938
on
"
Interest
$540,202
37
----
Bird-Archer Co.—Dividends—
integrated
no
opinion as to whether one or more addi¬
be kept with. a single primary-system in this
"
•'" '
'■
'
V,'''"■
more
'
•
25,161
chgs.
com.
'
172,794
—
the
"
Liabilities—Collateral notes payable to
banks, $400,000; accounts payand accrued liabilities,
$68,348; reserve for federal Income
taxes
of
prior years, $9,962/ 25-Year
6%/and profit sharing debentures
(due JUly 1/ 1956), $5,752,800; common
New
New'York,:'Pennsylvania-and
comprise
$495,202
■
/
—
for
v1939
1940
.
$469,598
able
'
pertaining ■ to size, economy of operation and. localized management,
preclude the retention by Associated Gas of any interest in-utilit.jj'i
in Connecticut, Ohio, Delaware, Vermont, Maryland or West Virginia".
"
1941
stocks
*».
.
'
ciated cannot keep any interest in utilities in Connecticut or' Vermont,'"
under clause B.
Moreover, clauses A and C of the death sentence,
their
'7,067,812
average cost; after deducting commissions
and other, exto the reg:istration
and sale of
50,Q00 shares ox com¬
stock of Beneficial
lndustriax Loan
ferred
under clause*;
it
30—"-
companies
Inc.
.;/( Assets—Cash,
-L-YY". /jf
Pennsylvania,
7,792,798
891,156
incident
Industrial
cannot,
4,211,043
$10,201,271
Society—Earnings—
payable
income
-B, retain any interest in utilities operating in Delaware, West Virginia, Y >stock,-and
,vK
v.; v
:•/;•..
Copper Mining: Co. <& Subs.)—Earnings—
•
of
961,796
5,075,916
$11,103,311
'
"
;Balance Sheet, July 31,
(which defines the geographical confines of the sin¬
Associated cannot retain any interest in
Maine,
Indiana, Illinois,. Virginia, Kerr-
system
'
580,101'
1,340,662
—$476,037
deferred
rent year.
-
Y-' Y'.
continued, the corporation
•
$
Corp., and $8,939
representing
estimated normal Federal income
tax
applicable to such profiw
t$l 14,000 provision for contingent
additional Federal income
tax—cur¬
agaixist Associated Gas are sched-
28
integrated
132,653
-the
the
of
North Carolina, South Carolina, Georgia, Florida, Louisiana,
Arkansas, Missouri, Oklahoma, Arizona and the Philippine Islands. *
single
29,557,624
deductions
♦Based
mon
tucky,
the
$43,969,938
$14.47^314
____________
Fed.
Dividends
?-.+'■ /
11
of
for
Ypenses
.
If
:
31,330,944
capital
exps.
notes
/
.The principal, single integrated utility system in .the Associated
seh-up, "if any/' the
SEC.states is located in New Yoxk or. iri
under terms of,the death sentence standards, ei-'Y
,
any
on
"•.. Net
,
.
Pennsvlvaiiia.' Thus;
York, the Commission
$44,102,591
1,920,763." $16,179,227
income
debs.
Other
to New York or Pennsylvania and
or more states and including
taken
hearings in the proceeding
begin-October
t
4,368,116
$
6,438
on
AmOrt.
4 started utility
the Associated Gas & Elec.
Gas
6 Mos. End. June 30—
Operating
,Other
to
$47,608,876
$47,510,171
1,407,539
_
sub.
Administrative
1935.
This section, known as-the death sentence, re¬
holding company to
reduce
its
holdings to a single
utility system, confined to a compact geographical area.
pecially clause B
,
/
expressed
was
interest. ";-';
$ 6,288,879
June
on
and
Int.
of
Sept.
on
states
6,897,951
______
Ended
Int.
date
gle system), the SEC said,
•publicYutilities located
in
Under the proposed merger
four-fifths of a share of new
"/•}<•
r*
-Wa, 'J
affil.
•Y Total
.
-Merger Opposed by Class
A stockholders.
value.—V.
plus the par
Anaconda
■."
.
action
bondholders
98,705
Other
50,767,000
50,626,000
50,740,000
share of new- commonr
"unpaid
each
uled
41,555,000
41,344,000
44,893,000
plaintiffs ask the court to restraia
consent
1941.
1,
1941—7 mos.—1940
.Net profit on! sale pi securities^
of
/"integrated"
'
Class
Act
Sept.
22,942
___$ 2,089,446
income
Months
ox
Sent. 2 that
70-393)sunder, the
(File
extendiiig ovfer 20
Philippine Islands.
Commission's
quires
J
the last
stockholders have asked the Allegheny County
for
an
injunction to
prevent
the proposed
with American Photo Glass & Export Co., .a subsidiary, claim¬
merger
it
1940.
for
V
Stockholders—
A group of Class A
"Common- Pleas Court
ing
The
Utility
1267.--....""
American Window Glass Co.?
the
in
American
1941, totaled
output of
the
over
properties
utilities
Initial
.1940
66,230,000
23——
23.3%
'■
v..,
66,634,000
l6
.
Aug.
of
: \■'
—66,619,000
9—
Aug.
incx-ease
for the corresponding week of
weekly-output of electric energy
of
\
1941
Ended
an
the SEC
■
$0.84
153, p. 982.
c
extern-ion of the matur¬
maturing Sept, 13, 1941.
Freres & Co. and were
It is proposed to extend the
proceedings against
;'
"■
-
doing,
of
rid
-two
hours
table
Comparative
-
get
of
Output of electric energy of the electric properties
Water works & Electric Co. for the week ending Aug. 30,
'66,639,000
1940 and
Inc.—Weekly /• have to confine its utility holdings
Co.,
''77■'
Output— "!
so
,
120,051
15,627
681,907
income
pn«ou"'"Jd
Commission
Exchange Commission
sentence"
/trie system.
In
and
accrued
W4,808,505
revs.
oper.
-V.
V
date
Securities
'
____$
oper.
ProV.
.
American
in a notice to
of; the company
1941—Mo.—1940
rev.
rev.
Net
Integration Action Started—SEC Defines Scope—
The
$
common
6,913,578 V$ 6,311,821
oper,
Net
19,761
current
1940—V.
in
28,918
326,883
Co.—Bonds Extended to
President,
July 31—
Income—Divs.
for periods not to exceed two-years from the
'issuance of any certificate whose maturity-date is extended.
$323,198 .: $282,241
been -computed
the Second Revenue Act of
Exchange
and
various times
at
•maturity
$341,002 ' $302,002
13,218
.$161,030
taxes
income
Securities
-issued
1941—6 mos.—1940
-
■:
.
Clarke,1 trustee, filed a declaration
Company Act regarding the proposed
ity date on $200,000 of trustee's certificates,
All of
the certificates
are
held by Lazard
only)
$170,501
42,886,297
Certifi-
Extend
To
-
Stanley
?/,■•
1941—r3 mos.—1940
30—
June
Haskell,
exps^
Net
deducting $7,702,257 in 1941 and $8,749,254 in 1940 for re¬
depreciation.
(Represented by 549,546 shares of- no par
(Represented by 4,630 no par shares.—V. 152, p. 3013, 1271.v
The
148,966
2933.
p.
Oper. :, taxes
Total '___Ti46,271,729
Holding
.
142,265 shares of
on
Beneficial Loan
1940
$2,272,492
115,000
revenues
Oper.
for
&
Co.—Accumulated
Dividend—y.t.
'dividend, of $1.50 per sji4re oh
.
&
;pat'ts
.1
declared a
account
of accumulations on
6%/cumulative preferred stock1,/payable Sept.
.1 to holders of record Aug. 20. Like amounts paid on Aug. 1 and on
ljune 1/last.—V/153; p: H23.
"" '"• ""
have
'
excess
12,441,388
l drl30,009
301,300
$
and
company at par or less plus
Oper.
"L;
Gas
1940
1,834,428
;
D.
.^Uncollect,
239,396
Associated
1941
2,090,732
Bell Telephone Co. of
Pennsylvania- -Earnings—
♦After
923,090
621,790
N„ Y.
1268.
p.
>/•'"
/.
share
per
the
(Oper.
835,116
2,284,365
1,269,706 i. 1,269,706
cur
42,886,297
>
'
'
__
I-
Per. end.
92,589
,
.
153,
441,883
income
349,724
96,031
'
107,695
3,013.500
tTreas. stk.
_I—46,271,729
value.
867,850
Note^—Federal income-taxes have been computed in current periods at
rates
9,736,999
55,239
397,002
$
$
436,865
_
cates—
•;
■"
______
_
surpl.
Earned
_
chgs,
Total
tax,
Cap.
pat¬
etc.
Defer,
■
2,600,000
exps.^_
Corporate
.The company,reserves the right to
deposit additional funds for the
purchase of bonds In excess of the
amount provided.—V.
152, p. 1421.
2,069,589
^
the
Prov. for Fed.
243.669
35,047
etc.
,725,209
5,
Other
1,785,890
943,260
57,667
$
27,218
$
'.
to
13,100,000
Res for contig
Cash
serve
Net
"
■
•f.
1940.
12,400,000
pay.
to
New York,
the first
mortgage bonds
oututanding as of
Aug. 1, 1941, aggregated $345,900, ol vhich
$84,000 are due Sept. 1,
1941, and the balance, $261,yoo, has been
extended to Sept.
1, 1944,
.The company
proposed to deposit with the State Street
Trust Co.,
Boston, on or beiore Sept. -1,' 1941, the suiti of
$168,000 to meet the
bonds
maturing on that day and with the balance
remaining to
.purchase such of the bonds
maturing in 1944 as may be offered
of
'
assets
$
Long-term dt.
4,296,585
Street,
taxes
Federal,
taxes
George
$2,653/??0
$2,813,134
Federal
for
!that
I 2,877,836
pay.
submitted
—_
1944—
$880,846
stk.-_-_' 9,736,999
•
payable
Accts.
duty rdraw-
1941—6 mos.—1940
-___$1,439,933
$1,368,239
taxes
946,347 Y
* 910,657
Nts.
Drafts
Govt./
: S.
.
Subs.)—Earnings—
1941—3 mos.:—1940
to
-1941
Liabilities—
tCom.
__Y 5,807,043
ents,
"
$
accts.
&
reC.
U.
>•//,'. ',/
j ,-
"
Baush Machine Tool
30
June
•
.
,844,358 11,358.069
equip. __11,
21,
,115,643 22,625,960
&
totals 865,600 as against
979. '
p.
$
Sheet
..
plant,
"Prop.,
the largest for the month of August
System,
the next largest August gain
153,
Balance
Tnvehtories
was
1936.—V.
66,800 in
30—
152, p. 670, V. 151,
.
*'-/'//' ///
1940
Assets—
in 1940.
At the end of August this year
18,346,800 telephones in the Bell System.
about
,there were
amounted
expenses
l-
compahy
1941
the same period
for
,t
/;//////.
81,500 and for August, 1940,
was
and
be
Broad
$2.30
$0.4.3
profits taxes.
excess
11
545,416
provision for loss on conversion of net current
and $42,170 miscellaneous deductions.
§$17,624
V^
Tne net gain for 8 months this year
$3.01
provision for
$1,080,000,
in cost
and to $780,440 in 1940.
Canadian
com-
.cipal telephone subsidiaries of the American Telephone and Telegraph
Co. incluued in the Bell System during the month of August, 1941,
.
66,300.
544,916
should
Bank,
•
110,600 telephones in service in the prin-
gain of about
a
544,916
r.4-
—V.
'~r•."-
$5.89;;'; Y/ .$5.41
share
per
fetitive bidding a amount of issue bonds being called.refunding the of long term debenture bonds, subtantially in the
\
544,916
moneys
stock
def720,332
1,097,638
the
profit,;,
Earns,
the
issue
plans
V*
■
June
before
Net
; v
(Includes surtaxes of $257,488 on the undistributed incoihe of 1937,
tax returns of this company and all subsidiaries except one being
filed on a calendar year basis.
//■/
gold cie-
which are presently outstanding in
it is expected that the emire proceeds
will i>e needed to provide for plant
As
bond
company
sinking fund
year
1943,
1,
$94,306,000.
convertible
3%
tne 20
Earnings
out.
_________
"Includes
Company is calling for redemption on Nov. 1, 1941, at their principal
amount
par)
(Depreciation
^:
.
•
stk.
com.
(no
hand subscriptions for approxi¬
mately $222,227,000, or slightly over 95% of the $233,584,900 convert¬
ible bond issue recently offered to stockholders
Tne money so re¬
ceived is to be used to finance the system's huge construction program.
Sept.
to
up
company
3 had
of New Bond Issue—
End
profits
'.*•
Surplus
Stockholders Subscribe for 95%
All offers
of
Liberty Aircraft Products Corp.—V.
Provision
200,802
545,291' /■
'
supplemental inden¬
held in the
exhaust
-____a____$2,931,745
'
i Hutzler.
to
produced
Profit
437,738
^96.553
r-
sufficient
Sales
282,133/J. (417,408
1,839,482
1936,
interest.
Department
Years
Y;-'\
.'
'■ 844,620
—
$
27»
Ayrshire Patoka Collieries
Corp.—Earnings-
417,476
v"
262,067
707,506
_______$ 3,103,167
dividends'■•••'
Preferred
■
3,754,520
*2,100,402
____________
profit
Net
/
$
v
National Bank of the
City Of New York is inviting tend¬
to it of an amount of first
mortgage sinking fund 7%
bonds modified as provided in a
Aug.
also
Tons
5,203,568
236.
p.
50%53
;
1,859,549, .$ ;
'
306,142
who
gold
accrued
Trust
322^000
/;
■
severance
Chase
dated
''790,428
2,377,925;-'$
§59,794
,
4,938,973
income
$
.;;'2f$,$0*4f .V;1^0,556Y,
121,698
director of this company. 1 E,
resigned Nov. 7, 1940, was
a
153,
sinking fund on Sept. 15, 1941.
No bonds will be
accepted at a price
exceeding the unpaid balance of the principal and a
premium of 7y2%
„v
3,054,681
and
Operating profit
bbard.—V.
for the sale
ers
convertible
3,675,386
5,238,841
The
534,171
0 ' Vv-'Y/>Y/v'/
Interest
the
Autocar Co.—Tenders-
$ 6,246,706 «$ *3,310,937
7,463,362
of
687,311
•
713,341
3,813,163
member
a
63,231,951
701,126
Tobacco Co.—New Director—
Robert Macgowan has been elected
Axton, Louisville, former President
D.
-
relationship between A. T. & T. and
jthe Morgan banking firm is understood to have brought forth a burst of
activity in leading investment banking circles in an effort to line up
•: syndicate
memberships.
Morgan Stanley & Co., Inc., announced that
'it had formed a banking group of 25 members to bid on the proposed
A. T. & T. issue.
Halsey, Stuart & Co., Inc., outstanding proponent of
<
competitive bidding, organized another syndicate.
A third, it is said,
?is in process of formation under the direction of Solomon Brothers &
The
Axton Fisher
l938r
56,018,028
/V, '•
:
-
9,052,004
Profit
!
$
admin.
&
gen.
exps.
Syndicate Reported Being Formed to Bid for Deben¬
,
,/V
1,711,666
revenues
1939
$61,965,860 * $67.230,200
■
59,647,428
7,340,339
oper, '
/'
selected
t
Balance
Other
Subs.)—Earnings—
$66,397,449:
67,118,669
__
(&
1940
—$74,459,008
__
.
curities
Co.
1941
Saturday, September 6, 1941
774,854
1
851,203
"
/
"
-
•
Total /i_-_64,157,594 80,795,962
x
After' depfeciatioh
shares
153,
p.
of
$5 par.
1269.
and
z Includes
Total/1.Y164,157,594 50,795,962
dmhrtizatlonr!*:y Rdpreseifted byY2,461,$97
common
stock
of
Borg-Warner YCorp.—V.
Sales
.
i
goods sold
Gross
profit
profit
income
(net)
Other
the company has been closely held and
stock will for the first time
history
Canadian
'.r $640,614
250,321
company
..$395,611
Like
$104,742
—-—
affiliated
tor
many
years.
in
created
manufacturing
operations.
.!
profit
Note—No
i
has
provision
$128,610
—
-
Bullard
$ 60,833
State
made' for-Federal'or
been
dust
6
•'
^
Mos.
Gross
Sheet
Balance
Assets—Cash
1941
31,
$42,901; accounts and
$339,527; due from em¬
(net), $516,464; sundry assets, $10,802; de¬
$1,216,042.
'■
*r
paid V.in
stock (par
$1),; $200,000;
earned surplus, $377,109; total, $1,215,042.
capital
-:vVv
r,;
3800.
—1..1—iL_$12,089,472
sales
•Net
*
fits
H
846,252
Elevated
Month
of
'
for
to
per
1941...
■
"
i-3_^_$2,324,031
^1,576,163
Federal, state and municipal tax accruals.--—— ( 136,960
Interest
leased
Dividends
yi
increase
■„
.
99,497
t Miscellaneous
items
6,587
cost
of
Included in
this
1
public
service
receipts
over
month deficit
to
pay
at
debt
v*
m
v
t Amortization
of
discount
funded
on
bank,
debt,
♦Net
32,217
h.
c
a
for
and
tax,
and
income
$300,000
for
the
depreciation
to
months ended June
6
facilities
Brandon ;
Corp.—Accumulated
Directors
have
Sheet
declared
30,
7,369
■
$205,126
$173,837
$182,787
181,243
200,777
shares
of
173,573
80
85
—
profit or los$ from sales of securities,
80
"
f Compensation
1940, pay¬
for the quarter ended March 31,
Sheet June
30,
sales of
secu¬
Management,;
-1
1941
Assets—Investments $8,227,341; cash on deposit (demand) $153,402;
accrued
and dividends receivable
$69,810; prepaid expenses
interest
total
$8,453,419.
Accts.
pay.
Cust.
1,710,471
depos.
Acer,
•
'
1
Prov.
1
-r
295,354
128,641
_
etc.
328,330
—V.
3.130,975
2,898,984
and
389.
\
1270.
."■'t'.'-'"
Rys.—Earnings—
Period
Ended
Aug.
1941
__/.$8,580,137
31—
V ,:y';
f
;
1940
$7,361,469
■'
Ry.—Earnings—
•
July 31—
1941—Month—1940
1941—7 Mos.—1940
$19,359,454 $15,303,417 $119,199,840 $90,688,089
expenses—
16,164,035
12,898,586
96,084,727
75,647,252
earnings—
Total ——9,622,624 5,443,807
shares,
b Less reserves for depreci¬
$2,340,138
in
1940.
Less
c
for
reserve
the emergency plant facilities contract dated June 2,
1941.
contract the company is obligated to construct or acquire
plant and equipment at an estimated cost of $3,909,667 or
larger sum as the Secretary of War may from time to time
r"
such
earnings
Earnings
$23,115,114 $15,040,837
$2,404,831
$3,195,419
Period Ended Aug.
10-Day
for
31—r
—V.
153, p.
For
Net
for
Prov.
for
incial
Ltd.-
Boxes,
Earnings—
1940
1939
$292,730
$204,249
$172,172
81,140
earnings
Prov.
v
Wirebound
62,167
54,810
ended April 30—1941
yrs.
:
$5,347,009
1270.
Canadian
t--.
1040
1941
$6,698,000
Gross revenues
of
terms
Under
p.
Period Ended
4,742
par
10-day
for
153, p.
Gross
—9,622,624 5,443,807
no
153,
total $8,453,419.—V.
revenues
Canadian Pacific
exps.
81,726
reserve
$9,965;
356,673
.3,724,604
surpl.
...3,060,663 2,641,731
—
National
Earnings
Fed.
for
Earned
943,430
Surplus $6,197,419;
Canadian
Gross
__
$2,267;
and excess
„
226,705
581,990
683,848
__x
taxes
791,508
$1,000;
.
payrolls,
taxes,
—_
579,623
•
payable
profits taxes provided in
provision for current taxes
$11,574; special shares ($1 each) $2,231,194; ordinary shares ($1 each)
1940
1941
$
'■ $ '
1,051,125 1,051,125
stk.
Com.
accounts
and
expenses
contingent Canadian income
.prior years over amounts paid
30
June
-
.1,142,889
'
Liabilities—Accrued
for
debts, etc., of $43,212 in 1941 and $16,588 in 1940.
d Constructed
or acquired
under terms of a contract dated June 2, 1941, providing
for reimbursement to the company by the United States of America
in sixty equal monthly payments,
to copimence in the first month
after
completion.
Subsequent to June 30,
1941,
the company as¬
signed to Chemical Bank and Trust Co. as collateral security for
bank loans (not to exceed $2,932,200) all reimbursement payments be¬
coming due to the company by the United States of America under the
$1 per share on account of
payable Sept. 30 to holders of record
Sept. 20.
Dividend of $2 was paid on June 30, last, $1 paid on April
,1, last, and on Dec. 31, 1940 and Dec. 30, 1939 and dividend of $3
paid on June 30, 1937.—V. 153, p. 95/V1
8,52.9
out of accumulated net realized profits from
pursuant to by-law and management agreement;
directors' $6,773.
'
Net
of
8,753
21,428
taxes
only
Working
Dividend—
dividend
a
8,883
24 a
shares.— '
Balance
amortization charged to
$91,815 respectively, for
Liabilities—
'V.;-i;'•
-•
Represented by 276,000
ation of $2,652,886 in 1941
the class A stock,
on
$198,686
113,545
respect of.net income,
$6,773;
1941.
a
.2,318,660
Receivables
and
$125,000 and
$
a
*'*
profits
for--
paid—Special
Exclusive
rities,
;'
bad
accumulations
*
able
profits
excess
'
1940
&
Total
153, p. 236.
&
provided
Ordinary
$0.37
$0.16
profits
excess
Federal
in
$
2,479,062
plant
' * •!'
Prepaid
etc.—(V.
$217,563
$230,140
"
171,225
charges,
1.301
20,4011
—_
income
Dividends
276,000
276,000
$4.35
bldgs.,
•.
Inventories
V--':
198,446 Pi*; 194,231
:
y
$
666
4,500
*
deductions
$3,065;
Cash
c
inc.
7,072
16,131
sold
—
Can.
and
3,43$
•
.
provisions
Pa tents
•:
•
•
$173,207
693
7,985
119
'
and
1939
$204,633
69,000
276,000
$214,000
expenses amounted
equip,
6,977
64,840
_______$
off
$
•
The
and
etc.
•Excess of
•
43,992
as
by the company
d Emerg.
99,497
—
$
S.
Other
101,217
the policy of charging expenditures
patterns, dies, jigs, small tools and equipment
incurred.
Such expenditures have been esti¬
expenses
Assets—
,
233,222
329,374
.
$
'
'
the 6 months ended June 30,
3,761
-
329,374
-:
_______
43,992
■-
(2)
eosts
1940
$2,207,818
1,568,301
137,910
3,761
roads
bonds
on
$
207,000
$3.44
drawings,
and
b Land;
Subway and rapid transit line rentals—234,529
p$d
refund—.
income
paid
'
.
.
V'1941
April—
993,810
U.
21,837
The company follows
patents,
costs
•1941.
t
receipts
123,054
$
8,700
$
$1,052;000 provision for
for-possible
for
mated
'»>;
:
mt.
deposits.
receid,
tax
amount on the
Sept. 16.'
1940
1941
$207,803
14,232
and
cash
on
div.
on
Total
7,956
52,692
$
1,200,810
.
Balance
"
1,522,310
276,000
v
Ry.—Earnings—
Total operating expenses
Rent for
Int.
115,088
$
14,121
$
674,022
1941
Total
Stock
302,244
38,570
321,500
276,000
r'
par)
share..
■".Notes—(1)
would have accrued $54,800."—V. 152, p.
we
$,
'
$
950,022
outstanding- (no
taxes
.
those in force last year
3961.
*
Interest
417,332
divs.
in
Ltd.—Earnings-
•
funds-_-_
S.
share
per
stock
com.
provision
by company that ."an accrual of taxes was set up for six
months ended July 31, 1941, on the basis of the proposed bill passed,
by the House of Representatives. These taxes (normal and excess pro¬
fits) amounted to $90,200.
Had these taxes been accrued on the basis
of
J.,509,927
*2,087,000
„-t—-—,
•
y ( ♦Includes
?
is stated
Bostoil
$
287,756
in
$1.77
$2.27 * Nil
?
After depreciation, interest, Federal income taxes, and excess pro¬
tax in 1941.
|On 300,000 no par shares of common stock.
It
326,327
$
12,384
3,037,022
.
$
Earnings
699,165
- •
$
24,765
.$
-$
$25,568,010
$26,991,522
loss20,514
'$0.18
share
per
3,012,257
....;
taxes—.
profit
Dividends
1941—12 Mos.—1940 r*
$11,145,073
138,305
profit ;
•|Earnings
-. .$
'
v-
»:«
1941—6 Mos.—1940
July 31—
profit
income
■ v
.
V "■-v/.'.":
.
Net
surplus
Inc.—Earnings
Bloomingdale Bros.,
Net
.
Fund,
30—
dividends
on
U.
on
1938
;
like
of
dividend
cents
30 to holders of record
last.—V. 153, p. 237.
Expenses
Fed.
Shares
Period End.
.707,730
.
-> Total, profit
customers' refundable deposits on bottles and/cases, $60,906;
trust deed notes payable, $14,380; deferred rental income, $19,442; re¬
$380,000;
$ J.,940,597
" 430,670
3,719,987
exps.
'
*
•
$109,653;
—V". 152, p.
.$
-
gen.
income
Other
accrued liabilities,
Liabilities—accounts and contracts payable, $43,698;
$9,855;
&
Operating
v
inventories,
$189,410;
(net),
ployees, $2,551; fixed assets
ferred
charges, $113,387; total,
serves,
profit
Selling
;
1939
25
Sept.
30,
June
interest
Premium
1940
1941
-
demand deposits and on hand,
on
receivables
other
July
—
June
dividend of
quarterly
payable
On
Investment
End.
Income—Cash
Co.—Earnings— V
6 Mo$". End. June 30
income,
regular
both
paid
extra
an
ven¬
Bond
Net
the
to
stock,
Canadian
Company manufactures devices and equipment used in heating,
tilating and air conditioning and in the removal of fumes and
Dr43,909
4,710
._
it has been
which
285,551
..$123,900
—____—
___
recently completed arrangements
company
have declared
amounts
to acquire the entire
capital stock of Buffalo Pumps, Inc., of North Tonawanda, N. Y., with
$390,293
>
271,711
_
addition
common
ized.
The
I../———
participation in the ownership of its securities.
The
has no funded debt or preferred stock outstanding or author¬
public
'
Celanese, Ltd.—Extra Dividend—
Directors
.
enable
289,934
„
———
Operating
1940
'
._$685,545
——.—
_
sales
on
,
v
___i.
Expense
its
the proposed public offering of its common
1941
31—
(net)
of
Cost
Throughout
sons.
Bireleys, Inc.—Earnings—
3 Mos. End. July
51
FINANCIAL CHRONICLE
Number 3977
Volume 154
1938
$232,414
52,144
'
depreciation
Fed.
&
_
Prov-
taxes
income
t100,462
_
22,465
10,680
$111,129
$119,616
$106,683
certain
Brazilian Traction, Light & Power Co.,
Period Ended
Gross
operation
-
Oper.
—$
expenses
Ltd.—Earnings-—
1941—mo.—1940
July 31
earnings
from
$24,127,886
11,206,596
$12,921,290
$10,728,543
153, p. 982. y/,%
earnings „-$ 2,044,164
$ 1,612,100
♦Before depreciation and amortization.—V.
profit
Wire
&
Years Ended June
sales
Net
Cost
"
—
sales
of
Gross
1940
$3,600,378
1939
1938
,
$4,097,-623
,
2,643,368
847,410
$1,104,789
$1,068,397
886,241
954,634
815,459
expenses
$
charges
Deprec. and taxes.__
Net
1,768,153
V 664,340
930,693
$
945,898
*850,281
246,075
130,648
324,881
324,881
$2.53
Shs of com stk outst'g
$1.70
$
$
$218,548
income
$182,208
$339,738
31,472
47,942
33,027
$252,946
(net)
V. $113,763
34,398
Income from operations
$145,235
$230,149
$372,766
33,352
32,012
33,891
46,702
—
♦Includes
rates
$236,814 for additional taxes calculated in conformity
proposed by Congress.—V.
153, p.
with
"''vV't-i'
237.
income
«
•
Depreciation
Income
__________
_i.
paid—On
class
$118,735
$162,906
198,128
common
Earnings
i,
125,894
*
on
$294,052
California
Electric
Nil
Nil
,
$0.34
for
the
year
amounted
Period Ended July
Power
in
to $28,099
revenues
Sheet
June
30,
deferred
deductions,.
rev.
for
Federal
for
Federal
stock
total $2,687,420.
$97,295;
payable
Liabilities—Accounts
vision
taxes
and
taxes
V.
2,809,473
618,472
$194,680
$1,934,835
Net
V'...V
.
—V.
$1,755,801
have
Directors
declared
an
extra
dividend of
$3
per
^
to
and
dividend
at
the
of
rate
10
cents
per
share
on
the
Canadian
$2,173,286
on
Sept.
dividend
17.
Like
of 6 cents
dividends of
Buffalo
was
amount
paid
on
paid on Aug. 2,
Aug.
1
Other
6,
Forge
last;
♦ProV.
Net
With SEC—
profits
Net
x
to be applied
to
of
$3
per
share
on
the
profits.
Ltd.
(&
Directors
clared
$1
476,430
35,384
36,197
96,659
93,715
117,972
366,041
121,850
13,079
252,001
$
186,689
(net),
$
25,031
381,440
rates subject to
$ 9,620,278
4,000,560
3,798,949
131,132
2,197,277
1,620,522
.
.»
/„
,
Balance Sheet
:•
July 31,
$1,291,010;
inventories,
$2,445,554;
cash
ings,
15,120 shares to be sold by the com¬
part its treasury for the ex¬
may be used for other purposes in the discretion of the board of
The remaining 100,000 shares of common stock are outstand¬
ing and proceeds from (heir sale will he received by the selling stock-
}.«fW•in
.
>:>!•■
-
incorp; in 1901 to succeed a business originally estab¬
At the present time it employs approximately 1,500 per-
$1,084,400;
Div.
bills
hands
other investments,
accounts
payable
Series
tures
on-
stock
1,429,000
$
189,805
$
152,500
$ 2,394,673
$
133,150
$
98,554
2,945,815
657,531
53,946
56,654
1,255,000
$
and
$
742,666
$ 2,203,146
pref. stock
of
pref.
41,800
41,800
1,737,142
501,606
expense
15,951
15,951
191,407
—
501,607
191,406
of
$465
Balance 4._——
-
—V.
153,
75,399
$
$
40,804
$
1,044,129
$
1,510,136
830.
p.
accrued
$984,466;
Federal, and Provincial income taxes, $564,032;
liability and mortgages payable, $127,425; 4%, 4Yz%, 5%
debentures, *$850,000; 'SVt% series "A" sinking fund deben¬
$1,100,000; minority interest in subsidiary company, $817,047;
"B"
preference shares (163,200 no par shares)-,- $3,087,843; comrrion shares
(675,195 no par shares),- $1,026,214; capital surplus, $1,880,414; dis¬
tributable surplus, $1,487,544; tdtal $13,809,386.—V. 153, p. 684.
Paper Co., Inc.—Stock
Central
■purchase
'-
—
—I-
income
Amortiz.
and
liabilities,
or
°
plant and equipment (net), $7,997,264;
609; total, $13,809,386.
Liabilities—Bank loans,
115,000
deduc.
& other
Net
1941
in
' ;
347,519
accounts
$41,167;
income
Gross
122,000
-
r
1
investments,
deprec. &
for
amortiz.
determination
$276,081;
165,342
Taxes
Int.
$
1941—12 Mos,—1940
$10,021,511
226,500
15,775
13,722
at
Consolidated
352,500
y.
Co.—Earnings-
ended
.
Prov.
235,300
dividend of $1.50 a share had been de¬
participating first preferred stock, payable on Oct. 1 to
record of Sept. 10.
Like amount paid on July 1 and
of
July 31 -1941—Month—1940
768,003
$
664,219
.Gross revenue
$
290,856
; ..265,586
Oper. expenses,.—
353,813
.
receivable
1.046,578
$
Corp.—Dividend—
announced that a
the
on
Central Illinois Light
40,640
1,212,416
Dividend—
April 1, last; dividend of $.3.50 was paid on Dec. 23, 1040, and one of
$2, paid on April 4, ;1940.--y.' 153, p. 830.
1941—9 mos.- -1940
$ 1,177,031
$
America—50-Cent
Sept. 2 declared a
stock, payable Sept.
shareholders
Subs.)—Earnings-
19,456
of
Corp.
on
common
Celluloid
&
$
238.
p.
common
123,671
taxes
common
dividend of 50 cents per share on
30 to holders of record Sept. 10.
Like amounts paid on June 30 and on March 31, last:
See also V.
1.52, p. 1586 for record of previous payments—V. 153, p. 983.
Ltd.—Dividends—
dividend
35,557
.
applic. to
ints. ____ 1
"
penditure of $246,058 in the purchase of the company's preferred stock,
lished in 1878.
inc.
Assets—Cash,
reimburse in
directors.
153,
Directors
per
659,609
.
authorized the issue and sale of 6,000 shares
stock (par $25) to the- New England Gas and
for a consideration of $50 per share ($300,000).
25
Aug.
on
Association,
Celanese
trustee for debentures, $560,65$; prepaid expenses, $361,042; land, build¬
proceeds from the sale of
was
$348,776
prevailing income tax
of standard profits. -
*
Company
____$
Federal
♦Calculated
•
underwriters.
*
$635,944
-
456,974
deprec
for
minority
(2-4828) with Secur¬
covering 115,120 shares of com. stock. The
shares being registered for offering comprise shares to be sold by the
company and by some of its large stockholders and will amount to
approximately 35% of the 324,786 shares to be outstanding upon comple¬
tion of the financing.
Hornblower & Weeks are named as principal
are
$78,016
—V.
l,43u,609
15,525
y
of $5^4,029
$1,788,385
1,345,274
1941—3 mos.—1940
-1940
—
Provinc'l
Company filed Sept. 3 a registration statement
Net
income
for
Prov.
ities & Exchange Commission
pany,
32,583
$1,981,219
_
_____
Interest
1940, and previously quarterly
Co.—Registers
46,383
118,739
a
$3
Breweries
from oper.
income
Total
12'/a cents per share were distributed.—V. 152, p. 4117.
(N. ¥.)
of
$1,992,813
Total ——$2,173,286
Vineyard Electric Co.—Stock Sale—
SEC
period
outstanding
and on May
declared
$1,992,813
stock, no par.
y After reserve for depreciation
and $498,221 in JS40.—V. 153, p. 1270.
additional
the
Per. end. July 31—
.
capital stock of this company, payable in Canadian funds, has been de¬
clared payable on Oct. 1 to shareholders of record at the close of busi¬
ness
,
stock," both
Profits
A
B
Electric
•
dividend
638,287
-
1941
of
share on the 6% non-cumulative pre¬
payable Oct. 1 to holders 61 record teept. 15.
jxast
previous payments were made on April 15, 1941.See also V. 152, p.
1907.—V. 152, p. 3962. C
:•
Buffalo Ankerite Gold Mines, Ltd.—To Pay Dividend—
,
r.
$196,756
$93,344
have
a
846,y^o
637,142
leases,
Cape &
153, p. 983.'
ferred
the
.
-
106,729
income
stock
share in addi¬
regular quarterly dividend of $1.50 per share on the com¬
mon stock, both payable Sept.
10 to holders of record Aug. 30. Extras
of $4.50 were paid on June 10 and March 10, last.
During the year
1940 company paid a total of $21 a share consisting of $6 regular
dividends and $15 extra dividends—-V., 152, p. 3801.
' .
tion
2,075
,
$200,073
deductions——
Directors
'•*
; 3,514
Canada Iron Foundries,
'.
2,500
23,814
594,651
$196,559
income
Income
$230,052; accrued taxes $34,375; pro¬
income—(estimated) $59,500; reserve
$34,000; class "A" preferred
Sharpe Mfg. Co.—Extra Dividend—
&
3,125
Total
2,825,938
51,075
154,150
_
Represented by 50,915 shares class A stock no par and 40,000 Shares
in
219,548
sur,
$5,176,391
52,066
1,363,799
200,667
143,037
224,311
18,946
7,036
833,305
etc,
1941—12 Mos.—1940
$5,362,780
income
Gross
1
$990,640; common stock (par $1) $279,764;
earned -surplus $362,439;.'total $2,687,420.
surplus $696,650;p. 1124.
153,
Brown
'
x
259,625
revenues^.;
oper.
Other
deferred
Income
on
(99,064 no par shs.)
capital
■■
The
Net
notes
$408,799;
charges
Pats,
•.
Co.—Earnings—
$465,303
22,309
1,363,790
_
sur.
inv.
y Fxd assets-
the
on
1941
and
accounts
receivable
(trade)
$424,152; inventories $1,232,517; investments and other assets $15,013;
land $100,799;
buildings, machinery and equipment
(net) $408,845;
-
share
per
$508,250
'
Depreciation
Balance
Assets—Cash
cents
1941—Month—1940
31—
Operating
Oper.
for
depreciation
and to $30,959 in 1940.
1941
five
.
(Including its Consolidated Subsidiaries]
^
Nil
stk.
com.
of
st,
Cap.
Spec,
advs._
class
share
shs.
Provision
dividend
a
&
•
_________
per
279,764
declared
payable Sept. 30 to holders of record Aug. 30.
Like
April.7, last? and dividends of 10 cents were j)aid oil
Sept. 30, 1940 and on Nov. 15, 1939.—V. 152, p. 1422.
x
22,209
100,460
Earned
insurance
amount paid on
A
preferred
On
have
stock,
199,772
19,194
198,128
83,929
$183,895
Directors
282,211
23,819
for
taxes
190,491
85,271
131,724
:
Q-r val. of life
Calgary & Edmonton Corp., Ltd.—Five-Cent Dividendcommon
163,456
income
Net
Divs.
26,500
69,0511
taxes
237,326
5
33,043
rrrr.
Outside
Total
31,596
127,293
pay._$
Prov.
revenue
Cash
Other
Accrued exp.
.
1940
138,643
accrued
&
$0.47
,
and
_
bad
_
'
,
Mtge. pay.
Sundry cred.
Prepaid exps
324,881
.
14,375
.
bills
debts.) :
154,048
$0.81
share
552,085
taxes.
1941
9,875
res.
Inventory
263,911
324,881
$
.
Accjts.
___—
(less
104,128
30
57,207
of Can.
for
20,914
profit
excess
April
Liabilities—
Accts. receiv.
279,090
$
104,589
for
Sheet
1940
144,073
bds.
13,324
499,148
$
provision
1941
..Cash
265,766
$
15,800
f Includes
Assets—
Dom
483,348
$
15,205
—
Balance
692,451
426,685
*$180,269
A shares
76,877
77,326
130,441
Federal
and
Provincial
income
taxes
of
provision
for
after making this deduction net profit for the year would
$159,538.
1938
1,147,688
147,738
826,353
per
$
91,518
profit
Earnings
$
13,275
_______
Gross income
$1,187,148
$997,667
1,750,945
820,252
1,754,878
oper__$
be
1939
1940
$
period
for
class
on
Before
$20,731
Subs.)—Earnings—
1941
Other
$3,830,516
3,099,956
2,531,981'
2,545,401
——
profit
General
;
1941
$3,650,190
from
income
Other
Co.—Earnings-
30—
—__
(&
______;$ 2,923,065
r____
1,168,186
Expenses
Profit
Brown Fence
Co.
3 Mos. End. June 30—
Gross
profit
Divs.
3643.
p.
Bulova Watch
10.600,951
•Net
152,
Net
♦
$21,329,494
1,613,739
—V.
approve.
1941—7.mos.—1940
3,225,839
3,730.627
i 1.686,463
such
•
All
stock
of.
and
redemption
Payment
Trust Co,
Called—
V..'
outstanding 3%-6% cumulative convertible preferred
3%-6% cumulative preferred stock has been "called for
the
on
will
of
Nov. • 1
be made
at $10.50 per share and accrued dividends.
at the Continental Illinois National Bank &
Chicago.—V,
152, p. 2696.
FINANCIAL CHRONICLE
V52
Crown
Chesapeake & Ohio Ry.—Earnings—
July—
Gross
Net
/>. 1941
from
railway—$13,661,112
from
Net
railway
oper. income
ry.
From
Gross
Jan.
$10,915,374
5,138,900
3,808,125
$8,715,416
3,654,435
2,519,105
59,068,208
21,135,764
14,218,432
$11,685,795
5,425,611
3,581,903
7,009,854
3,849,081
1—
from
1938
55,488,800
19,125,868
12,466,014
-
77,098,661
Net from
33,694,615
Net
23,558,987
railway
36,119,243
oper income- 22,856,188'
ry
—V,
153,
1271.
p.
Saxes,
net
outward'
Other
■
v..;'
Corp,
(&
Subs.)—Earnings—
July 31—
returns,
ol
$19,964,477
Cities
Service
Co.
The
SEC
To
—
sidiary™
.
V
:
$17,546,545
13,010,627
10,635,716
Absorb
Wholly Owned
for
1
income
of
goods
.
sold,
exclusive
-
of
1935,
turers
regarding .the. liquidation
Natural
Gas
Ltd.,
Co.,
dissolution
and
of
The
Interest
Provision
Manufac¬
taxes
wholly owned subsidiary of Cities
Service Co., and the acquisition of its assets consisting of $200,000
of 5% 20-yfear bonds of United Gas and Fuel Co. of Hamilton, Ltd.,
and an account receivable of approximately $73,000 from Dominion
Natural
Gas
Co,, - Ltd., and cash in the amount of approximately
.$18,000, by Cities Service Co.—V. 153, p.. 1125.
V
.
notes
on
for
i
Gas
Fuel
'
Loan— '
The
SEC
Co.
SEC
—
[
•
Aug.- 29 issued
filed pursuant to
on
Minority
States
and
42,257
the
1,589,443
-
Pacific
20,409
i
1941
•.
$2,244,315
$0.70
-
rate
of
per
solely
are
the
fsr
The
annum.
issue
sale
and
of
such
*.
Directors
the
have
for
Congress."
in excess of
'
.
the
on
The amount
basis
of
United
.
States
the
is
6
and
Canadian
taxes
-
result of-new "Federal
ft
as
Dominion
and
,
!Period
.
90
cents
in
accordance
with
enactments
;..v,
.<
made
subsequent
,
.
;
.
to
.
(4);
(.
for
;
$35,783
:
3,347
Directors
8,536
Net Income
before
securities
•
Net
ff-om
—
sale
-
——
„
i_—1_—>
__
$49,547
declared—cash
$50,112
„.
'(
Balance
Sheet
June
30,
'
1941
["
'"
*
$1.75
share"
cm "the
Amort,
likewise payable Sept.
is
;
V.
£
$J$,305;
i:.
stock
common
\
-
Commonwealth
4
■
Southern
&
;
-
■tof
The
Commonwealth
&
Southern
Corp.,
adjusted
show
to
was
dividend
of
have
declared
dividend
The
five
cents
per
general
conditions of territory served for the week ended Aug. 28,
amounted to-191,185,429 as compared with 161,503,208 for tue
corresponding, week in 1940, an increase of i 23,682,221 or 18.38%.
<V. 153, p.: 1272.
1941
share
company (Spokane,
Ustration statement 2-^825)
to
are
be
Proceeds
'.Co.,
be
Spokane,
;shares
at
ofxered
will
at
such
the
Wash.,
the
net
to
used
net
has
at
value
then
plus
then
Devoe &
market
for
distribution
to
■
6
Mos.
Earns,
Consolidated
Ediison
Co.
of
New
York, Inc.—Electric
Production Up 3.7%—
Consolidated
the
electric
Co.
of
New
York
announced
production of
of its system for the week Aug. 31, 1941, amount¬
kilowatt hours, compared with 138,800,000 kilowatt
corresponding week of 1940, an increase of 3.7%.
hours
,
for
V.
153,
Fed.,
the
from
State
Net
Ended
Total
July
31—
>
$313,350
$2,275,088
$2,191,347
288,975
244,027
1,156,145
1,089,437
from ops.
ear.
$75,865
deprec.
fund.
on
$69,427
$1,129,839
$1,103,017
77,260
339,986
443,464
368,028
100,965
interest
Other
/
&
debt_
112,461
2,412
deductions—
1,997
4,281
464,388
12,272
.6,003
..
15,412
.
.
.
10,083
15,058
•
-
$111,443
—
$128,294
Balance
Sheet
prof
July
31,
$318,705
prof
$245,460
1941
Shs
of
$1,897,016
$1,769,761
$1,690,982
$1,455,249
651,278
521,443
429,186
'121,292
period $1,002,991
3,434,173
•in
$1,048,247
3,466,833
2,762,438
3,977,196
10,381
*521,936
6,267
4,437,164
450,000
$4,480,450
900,000
$4,332,652
900,000
$4,884,989
1,200,000
525,000
1,050,000
1,050,000
—
dividends
dividends'
debits
June
30
stk
(no
com
♦
Transfer
irom
years.—V.
153,
$3,456,262
—
$2,530,450
700,000
par)
700,000
$0.79
—
unrequired
accounts
and
notes
officers
and
employees
of
receivable
(less
reserve)
$142,491;
$162,755;
total $16,165,424.
$2,485;-inventories
,,prepayments $24,284;
deferred charges $72,848;
v.
Liabilities—Common stock (par $1) $886,027; funded debt
$7,400,000;
^accounts payable $79,869; notes payable $58,000; accrued liabilities
;$223,116; consumers' deposits $153,960; reserves $3,670,099; deferred
credits $1,243;
contributions for
extensions
$2,420;
-organization
$3,375,368;
paid-in
surplus
total $16,165,424.—V. 152, p.3804.
Ended
June
capital
$8,378;
For
and
-V.
1941
6
months
June
ended
30—
1941
excess
Years
Amortiz.
Taxes
1940
$76,826
stk—'
com.
ended
June
$
0.68
of
1940
.
112,623
22,993
16,364
22,813
„
operating
$69,569
share
—
of
cap.
Assets—Cash
assets
fixtures
$819,830;
$19,848;
$1;
total
Liabilities—Notes
notes
United
$48,018
27,500
27,500
$1.26
$0.87
—........
stock——
and
States
.
1941
-•
bond
$1,106;
opinion
(due
within
,
one
debt
Interest
inc.
Taxes
Fed.
on
charged
assumed
to
Our
.
expense™
'
,
of
some
403,146
$13,229,329
2,450,000
315,884
2,450,000
;
./•
''315,932
' 16,025
crl39,926
cr32,830
————
69,300
year)
$3,750,000;
long
payable *.$750,000; L dividend - payable $13,750;
reserve
$1,082,196; reserve for taxes and accrued interest
, $44,917.;,
deferred
Income $274,862; general reserve' $15,000;'
cajfitM-sto6k"j.(55,0i30-"no
$1,100,000; surplus $414,667; total $7,445,390.—V. 152,
p. 1911.
im¬
be fully advised not
only, of
made
by the company, but
major considerations which may be useful
to
seil
tiieir securities
at, any
particular
of
some
tne
major
iactors
stockholders,; at
affecting
In
>
judgment
—
will
also
contain
the
following conditions:"*
Note—The
tax
come
now
in
77,044
the
profits
and
tax
is
making
provision
for
,
.
That
of
all
tne
the
15tn
shall
company
to
snares
That
after
purchases shall be
tne
any
tne
shall
company
day
ana
effected
not
the
on
solicit
or
me
V
furnish
ia»t
aay
New
ox
to
f
the
eacn
to
cause
company;
York
be
Federal
normal
in¬
Act
as
it
Is
estimated
no
such
Ciass
puicnased,
tne
prices
whicn
at
Commission,
monta,
Stockholders
tax
will
be
for
due.
the
Corp.—May Change Name—
at
their
annual
meeting
of
on
Sept; 9 will consider
"Duplan Silk Corp." to
the,.corporation from
"The Duplan C|orp." and changing the date
fpr holding the Annual
Meeting of 1 Stockholders" front' the second Tuesday In September to
the
name
first Tuesday
in October.—V. 152,
p.
3805.
the
'
promptly
scnedule
a
Ex¬
'
1
of
eacn
of
snares
each
purchased,
and the name of the
broker tnrougn wnom
purchased; sucn information to be kept confi¬
dential by tne
company and tne Commission subject to furtner oruer
of
tne
Commission;
That the company shall include in its
quarterly reports to stock¬
information as to tne im-ai numoer oi snares of
(4)
(5)
each
That
months
of the
no
the
irom
aggregate purchase price for each
purchases
date
shall
of
this
be
made
order,
after
the
subject,
c.ass
class;
expiration
however,
company to apply for an extension or extensions
to
of
six
the
right
period;
of such
(6) That the Commission reserves Jurisdiction, in its
discretion, to
rescind or modify this order
upon notice to the company at
any time
prior to the expiration of such six months' period or
any extension or
extensions thereof; any such rescission or modification
to be applicable
only to such portion of the $5,000,000 as shall not have been
previ¬
ously expended,
Comparative Income
Period
ended
June
other
Statement
30—1941—3 mos.—1940
income
$2,730,485
crt 100,078
1941—12 mos.—1940
'
$2,698,019
*$11,906,683
$11,266 968
398,891
{483,977
1,532*,978
—_
128,413
126,763
439,646
371 160
—„.
$2,702,150
$2,172,365
$10,983,060
$ 9,362,830
V
expenses
income
Net
Pref.
stock
appl.
dividends
to
Balance
.
->
*
•
.
periods,
wnether deel
or
2,108,483
$
„;
*
■
undeel
.
,
V.
.
2,108,483
593,667
$
••
u
,,
.
8,433,930
63,882
>
$
t'\
.
8,433 930
2,549,130
$ \ 928,9(X
*
Includes a -non-recurring amount of
$644,000 from the accumuiatec
surplus of Ebasco Services Inc.
V
is'f;'
t Provisions for Federal Income
taxes which for the
periods sine*
Jan. 1,. 1941 are based
upon a rate of 30% of taxable
Income, includt
adjustments of accruals
and
take
into
account
liaoility
$765,329.52
of
months
on
and
sales
ledger
twelve
of
and
months
Investments
$1,880,420.09,
ended
over
value
of
proceeds
of
these
such
in
June
respectively,
30,
non-system
Investments
sales
has
Summary of Surplus for the
1941,
■
for
companies,
^uly 1
Balarice,
Net
income
12
mos.
1940
balance
ended
Miscellaneous
$
—
for
June
12
months sEnded
Net
June
excess
Surplus'
62,894,374
.
„
app.
Net
excess
amt.
of
of
earned
of
realized
upon
investment
Miscellaneous
.
:
•,
; i.-,o
sur.
ledger val.
$
'
73,882,187
8,433,930
' 36*253
$314,287,790
1
,
i;'
j.'m'.
r 437-nn
'.
—
debits
Balance, June 30,
$388,169 977
$
over
securities
s"''
1-,819.770
w";
7
i.'i:.-.'.. 1
1941 —$ 63,503,271
r,
'
'•
•
•
i.
25,216
t.s.'iq
'
10 983 06C
31 500
dispos. "■
;
Totkl* 1
!
$377,150,665
'
>
4,753
$
Dlv.
oi
Surplus
$314,256,290
•
194i:
30,
Capital,1 :
10,983,060
credits
losses
(already written down, in 19311
charged to? darned' Surplus- '*
'
'41
tai
three
to
been
the
30,
in
the
attribute
Surplus
Total
changing
Curb
834.
Duplan Silk
1
solicited
•
:
ing for each day covered by such report the number of
$10,290,993
year
1941 in accordance with the Revenue
under
which
no
provision is being made
company
for
153, p.
$10,471,833
—
effect
'
*
Earned '
Income
to
as
,
58,891
_
;
-
addition, our oraer will require that a
copy
of this
sent to each
security holder along with the company's letter
ue
order
(2)
G9.300
61,660
etc.
of
Stock
the
wnether
of
change and
saie
2,311,544
—.——
interest
Plan
Preferred
- ;
(1)
That at least two weeks before
purchases are commenced the
company shad auvise it3 stockholders
iuiiy with respect to its inten¬
sion to maae sucn
purchases and the method to be empioyed, and snail
lurnisn to each stockholder a
copy of our findings herein;
557
$13,244,775
—-
tax settlement,
construction
bond
on
lor yedr
$568,025.—
tax
decreases
-L
and
$105,006;
Sanctions
$5,000,000
.
2,123,711
240,120
———_———
dis.
Miscellaneous
—V,
furniture
notes
funded
debt
Interest
$12,826,183
'
—
Amortization1 of
Co.—SEC
notnlcation.
;0i
3,194,174
$6,604:605;
$7,445,390.
payable
$13,004,655
revenue—-—•—
—
$33,677,173
10,355,147
2,865.857
—
State income taxes
income
excess
acceptances receivable
treasury
—
income
tax
income
;V :
of notifying them ox
the proposed purchases, copies
quarterly report setting iorth financial
statements together with
Qiscussion
0.31
2,329,409
3,361,614
690
2,431,787
3,499,286
„—_
acqu. adj.
income taxes)
than
prolits
Federal
it would be unwise to
attempt to fix any
should permit tue
acquisitions to be made by
on
the New York Curb
Exchange.
It is
13,634
taxes.
„
—
per
—
103,578
$2,149,071
$2,337,586
ly*l* provision' lor Federal in¬
1940
$35,770,175
11,142,734
utility plant
(other
on
1941
*
expenses
103,579V
.
time
$35,318
$
2,520
$2;44i,l«5
165,373
The company proposes to send to all
preferred
us
All
30—
revenues
Provision for Federal &
Net
127,209
„——
paid
Income
par shs.)
prior
Duquesne Light Co.—Earnings—
Other
$190,640
Consolidated Balance Sheet June 30,
term
ieast
prior to the
Gross
at
$242,583
^
—
-
other
of
8,374
we
purcnases
of
151, p. 2641.
Net
and
$0.64
earnings
546
p.
profits taxes
Earnings per share on 113,004 shares of
surplus
surplus
earned
Subs.)—Earnings— [
30—
income
Provision for Federal income
Net
700,000
$0.85
from
Net profit after all charges Including Federal Income
Interest
Utility Banking Corp., (&
Months
Earns,
700,000
$0.79
created
reserves,
V'1
that
and tnat
or
$1,059,089
Doyle Machine & Tool Corp.—Earnings—
Gross
Dividends
$2,382,652
^
i
x
$2,252,650
holders
Maintenance and repairs —rr—
Appropriation for retirement reserve
$311,467;
■Indebtedness
Interest
901,526
5,902
;hand
Expenses
$
concluded
deteimining
•prices.
2,625,000
——
at
124,537
$1,003,236
—
Operating
Operating
6
•
.115,247
Assets—Property, plant, equipment and leaseholds $14,600,755; in¬
tangible assets $842,662; investments $5,676; cash in banks and on
Gross
O
786,601
credit
Earnings per share
For
i
Credit
..." '
1938
15,828
«,6J2
$
lor
Share
Taxes
loss
$306,945;
" V',''
1939
1,108
$78,780
—
for
depl
Net
$1,101,909
10,896
82,564
Total
Other
$1,118,943
104
income
Prov.
Int.
$69,323
2,915
.
1940
22,oa9
>
a,632
provision
&
purcnased and the
$364,840
Net
Ii-'
'
.
107,424
surplus
Surplus,
1941—12 Mos.—1940
& taxes.
Other
•.
,
1941—3 Mos.—1940
revenues
Oper.
.
'
1941
taxes
for
Miscellaneous
Operating
exp,
*:
•
.
30--
sources
City
surplus
Common
Consolidated Gas Utilities Corp.—Earnings—
Period
June
all
&
earns,
Previous
Preferred
f.
•
6t>8
;
i
1
Bond
valuation.
Match Co.—Earnings—
ended
Miscellaneous
1272.
p.
■
Depreciation———
Edison
144,000,000
31, -1940,
market
(3)
plants
ing to
'1
356,051
[149,418;174,004 :[.
987.
price
also Oj.
have
'
Diamond
public
%Vir/c.
v
392,586
365
req.—,
;
,
480
1,699
exp,
24,991
'
.
$2,807,841
portant,, of course, mat security holders
..the lact that sucn purchases are to be
•
of
'
V".•
&
*
r-L-;.
$2,683,664
...30,308
33,125_
dis.
'.'133,669
"
-
.
approved the proposal of the directors to issue
29,000 shares of 5% cumulative preferred stock,' the proceeds of which
will be used to redeem the fifteen-year 4(4% sinking fund debentures
and the 7%
cumulative preferred stock.—V. 153, p 1128.
price.
Favre &
purchasing said
$2,782,850
Y05.490
lor year ended July 31,
$803,169 and Federal excess
have
tender
Raynolds, Inc.—Plan Voted—
Stockholders
(reg-
Muiphey,
distributor,
effect
SEC
common stock which
prevailing
purposes.
and
In
the
with
xpar $Ij
the
investment
underwriter
is
value
registered
32,500 shares
public
for
asset
asset
Wash.)
16,384
>$2,549,994
.
to
We
.
a
The
$
702,726
*875,182
.
.
,
[Composite Bond Fund, Inc.—Registers With SEC—
184,608
121,081
.
SEC
cation
$1 per share on account of
accumulations on the $4 cum. conv. pref. stock, no paT value, pay¬
able Sept.
30 to holders of record Sept. 15.' Like amount paid on
April 1, last; dividend of $2 was paid on Dec. 20, 1940^. and $1 paid
on Aug. 1,
and March 15, 1940.—V. 153, p.'1128.
a
*.
,
81,736
--
—x-W
$
dly.
July
153, p.
open
Directors
.business
„
extra
Derby Oil & Refining Co.—Accumulated Dividend—
of subsidiaries
energy
cents
an
regular quarterly dividend of 20 cents on the com¬
payable Sept. 20 to holders of record Sept. 10. Extra
paid on Dec. 20, last.-r-V. 151, p. 3393.
.
- .
both
17.0
29.»
com¬
on
Sept. 3 issued an order grantihg the
company's appli¬
expend $5,000,000 to acquire its
outstauumg preferred snares
on tne New
York ourb
Exchange, ;
vr..,
;
[ In its opinion and order the SEC states:
[
:r/;'J'.'k[]■
the
to
stock,
.of. 10
declared
have
addition
mon
'■ * '■
Output—
Corp.—Weekly
The .weekly kilowatt hour output of electric
j -
Directors
in
198,515
1
[ ; ' In Open Market—
■
($1 par) - $407,636; ;paid-in surplus
total $1,838,622.—V. 152, p. 1744.
earned surplus $6,379;
$
Company To Purcnase
•
Liabilities—Accounts payable $2,418; accrued taxes $2,711; dividends
payable
5.6
1,843,567
;
*1,141,692
1,266 "
140,78.7
tax
732,339
.69,367
..
2,031
' '
debt
Electric
•prepaid
+$1,403,172;
93,601
Includes:
<
come
.54,291;.;
,■
—
stock
.enoed
30,; to holders of record Sept.
V.
-;
•
'
:
-
Delta Electric Co.—Extra Dividend—
219,756;
a;.22,203- *^'^'6,975'•
"
Balance
-
per'share on' the 5 '/a %; pref. -.
30, 1941 and both payable Sept; 30
19.,". Like amounts paid on July 1 and on
of $4.50 was also declared on outstanding 7%
1,863,821....
16,605
5o,511
income
Pref.
[
$1.37'/a
152, p. 3804.
.
Pet.
• <
$6,341,789
144,492
18,309
'
.
of
$6,589,338
147,550
—
income deductions—
:-Net"
t
*
7%
.
.
■Misc.
quarter ended Sept.
dividend
19.—V.
Amt.
,:.
1941—12 Mos.—1940
*
484,535
$
162,405
Interest
\
Dividends—
per
Increase
v
,
—„
477,467
$
Gross. income
t
record. Septr.
of
.
.1940
1941—Month—1940
•+%
—;
develop, costs
and
..
This
>
-Assets—Cash—(demand deposits) $55,734; interest receivable $3,210;
taxes $1,548; Investments In marketable securities—(at cost)
$1,778,129; total $1,838,622.'.
dividend: of
a
of
<,
(& Subs.)—Earnings-
31—
exp.
Income
"•
f '
:
Co.—Preferred
dividend
a
194L
,
Balance
.
Other
.
•■.
July
Depreciation
t
Ekptor.
Dividend
preferred stock against accruals prior to July 1, 1940, leaving arrears
of $50 a share.. Latter, dividend covers shares not deposited under
recapitalization plan.
*-r -1'#
7
r.
'
■*
and
both for
holders
Sugar
declared
April 1, last.
18,952
'
Dividends
to
$30,595
——
I
„
have
stock
pref.
'Stock
marketable
of
.—————
fain realized from sale of marketable securities
Net income
*.-•
gain realized
—>
-...
Cuban-American
$39,131
[
.....
V,.[:
•
&
re venues,[
Taxes
In the fpregoing statement certain Items oX Income and expense
three months ended July 31, 1940 have been reclassified * for
p. 985.
' * 1
--/r
the
.
Maintenance .4—_
4
■
July 31,
c; v-
...
End.
Operating
into "'equivalent United States dollars, at" the rate
Canadian dollar, except the charges for depreciation
which were converted at'the parity of exchange.
The
per
depletion
income
.
...
Inc.—Weekly Input—
ended
Power
Operating'^
>comparative purposes.-r-V.; 153,
30, 194L y\ - "
Income: Dividends—————„1—————„—_
; Interest
week
El,Paso Natural Gas
of
,,
,
profit" of Canadian subsidiaries, ■aftei' .deductions of exchange
necessary to convert the decrease in working capital for the 3 months
ended July- 31,
1941 to equivalent Ignited "States dollars, and the
minority stockholders' equity,'" was $259,360.
The .adjusted, consoli¬
dated net profit for the corresponding quarter in 1940 includes net
profit of, Canadian subsidiaries .of $239,007 after reducing ctajce3ton
June
ended
1273.
p.
income' recorded
on
net
stock,
months
the
—
.
the
153,
;
Revenue
-•.1.*r:
'
T.
' ■...
c t >
foregoing statement-includes the items of income and
Canadian subsidiaries, after translation of the respective
and
Commonwealth Investment Co.—Earnings—
For
distributed.—V.
Light Co. ;
140,041
132,606 7,435
Electric Power & Light Corpi.83,719
71,588
12,131
National Power & Light Co.
110,734
85,370
25,364
The above figures do not include the
system inputs of any
panies not appearing in both periods.—V. 153, p. 1274.
• •
-
.j
to'that date
The
i94o."
>
paid,
also
was
American
the
estimated
so
that required under
"i
enactments.
(3)
Co.,,Inc.—Interim Dividend—
declared
■
common
*
estimated
Preferred
Thousands of Kilowatt-Hours
expense of
•Canadian accounts
an
interim dividend of 75 cents per share
payable Sept.'25 to- stockholders of record at
the close of business Sept.' 12. - Like amount paid on June 25,-last.
Interim ot 50 "cents was paid on March 25, last; year-end dividend
of $1.25 "was paid on Dec. 24, 1940, and previously interim dividends
of 50 cents were paid each three months.—V. 153, p. 1272."
'
'on
before
now
$379,000
1940.
been
has
'Canada
'
of
&
Bill
1941
.subsequent
secur¬
financing the business of company
and have been expressly authorized by the Michigan P. S. Commission.
Cluett, Peabody
July 31,
Revenue
of
visions
of
purpose
Pay 6%
have
Operating Subsidiaries of:,;
t,
,
the
Associates- -To
$0.69
•»
''-.V 'V ;
■h
(2)
Profit shown above for the 3 months ended July 31, 1940 varies
from the previously published result because of adjustments. of pro¬
,
ity
ended
approximately
Acts
$90y,210
Aug. 28,
1941 the System Inputs of client
operating companies of Ebasco Services Inc., which are subsidiaries
of American Power .&
Light Co., Electric Power & Light Corp., and
National
Power
&
Light Co., as compared with the corresponding
week during 1940 were as follows:
:
18,587
$2,251,726
share of common stock;'*
per
.months
order
1940 1
-
$822,318 '
—
declared a dividend of 75 cents per share on the
stock, payable Oct. 1 to holders of record Sept. 15.
on
July 1 and on April 1, last, this latter being
dividend paid on this issue since April 1,
1938, when 75
first
For
equity
Mills,
Fuel
&
Ebasco Services,
Canadian
in
earnings,
Limited—'——-—
Gas
amount
cents
103,338
2,093,666
•
profit
Earns,
granting the application of
the company
the Public .Utility Holding Company
i.Act Of, 1935, particularly Section. 6 (b) - thereof, regarding the issue
and sale by the company to Chase. National Bank, New York of its
"promissory note in the principal amount of $30,OQO,, hearing interest
at
1941
V
taxes
163,000
..
__—i————i—
stockholders'
principally
Net
Granting
v
.
an
30—
and
:
Order
Issues
June
charges
•"
preferred
Like
NOTES—(1) In the foregoing consolidated profit and loss statement
provision for United States Government taxes on income for the three
Citizens
2852.
p.
Directors
;
■
1
all
Dividend—
1,133,869
1,658,277
'
payable to banks—
United
income
on
a
.
1,133,594
1,868,265
.—
—
29
Manufacturing Corp.- -Earnings—
ended
after
Eastern
6%
—,—
—
issued an order permitting to become effective
declarations filed pursuant to the Public Utility Holding Company Act
Aug.
on
56,481
depreciation
of
depletion —:———:——,*—
Depreciation and depletion
Operating expenses
Prepayment premium incident to refunding
bank loans
1——2——*——-—-
Sub-
io2,
117,232
$20,420,544
profit
277,847
40,099
117,232
Film
Months
operating
Gross
-
6
»iwy.
$17,094,979
298,736
—.
and
'J
Pont
For
Net
income, net, exclusive of
depreciation———
»infiome, net———_—.
Dividends from Fibreboard Products, Inc.—
Cost
1940
allowances,
discounts,
Miscellaneoeus
■■;
Du
1941
freight, etc..™-----
deduction
.
railway., 80,004,873
Zellerbach
Months Ended
3
1939
1940
Saturday, September 6, 1941
>., 1
$314,287,790
".v.1
;
[
j(;
(
()
1110 770
ySaiJ
"$377,891,061
Volume 154
Balance Sheet June 30
7 :'i *' 1941
Comparative
Assets*
'
securities &
Inv.
Notes
*Ame. & P.
P.
Gas
35,000,000
4,000,000
35,000,000
27,925,000
Inc.
Co.,
$
28,925,000
3,100,000
—
—
Corp.
of
certificates
deposit
be
will
U.
Util.
Texas
tTex. P.
&
L.
6%
Co.
4%%
Co.
1st
••Other
Stocks
system companies
option warrants
—
Inc.
Services
2,090,000
Other
2,600,000
408,716,546
&
408,809,052
19,525,130
of
100
surrender
for
100
same
93,027
manner
reorganization
the
under
676,928
101,990
________________
the
to
10,388,755
•V
assets
current
Prepayments
the
in
shares
12,471,847
9,4^3,430
649,063
receivable
interest
Accrued
3,326,450
————
misc.
—_____—__
Cash in banks—on demand.———-—
Temporary cash invest.—short term sec.
ttSystem co.
20,000,000
7
.
stock
deposited
new
common
shares,
stock
To
Be
1,307,042
and
agrees
Planning
Cost
of
Total
;
The
$557,668,280
$557,424,879
;
$ 30,000,000
23,251,788
28,111
26,251,788
266,438
2,108,482
2,108,482
($5
stock
Common
Accounts
par)
—:
___
declared
Dividends
Accrued
;■
a——___—v—
payable
115,565,500
Capital
surplus
Earned
surplus
1,431,423
314,287,790
314,256,290
63,603,271
62,894,374
(1)
;
•
are
5 Payment
5,
■
—
-
•
'
lo,v.er
a,
Simplify
v- •.«
number of subsidiary
a
liens
into' one first
issues
its
Mahdning
of
me
•"
first mortgage serial 4% bonds.
new
because of.
Also,
"
"«
"
:
end.
Per.
Operating
A
'
.
Operation
2,058,694
«' 331,507
!*Fed.
Net
$60,635,124
22,117,897
$55*76,718
326,738
4,041,985
F.
Co.
the creation oi
revs. $
income—(net)
6,610,2G0
6,359,187
Ealance
$
5,323,784
$17,603,011
.dr86,598
$17,809,752
"ft-
1,429,359
1,732
5,277
1,430,957
620,166
$
—
amortiz.
&
addition
tne
$
'.u»
sales
of
of
•Cost
drl39,906
$17,516,413
1,431,091
630,425
Net
$17,369,846
7,492,528
7,392,781
.
of
25
cents
Gross
share
per
regular quarterly dividend of 25 cents
stock,
both payable Oct.
1 to holders
1,534,681
sold-
malt
profit
•
;
.
6,039,543
•
1940
' %
/
5,628,019
$
applicable to minority interests
Balance
General
Fed.
applciable to Engineers ,P. S. Co. ____$ 5,602,451
—-r~
Net
19,222
:
5,462
v,
..
I $1,460,832
charges
<:
6,202,706
"630,502
671,385
the
$1,157,591
and taxes
■
107,853
*
62,062
13,100
$1,219,652
$1,118,797
;■
;
applicable
-Vi
stocks
to
$ 5,951,674
$ 5,909.466
397,594
317,434
•
1
of
45,073
43,862
236,645
of
Service
Company
Balance
for common stock
Engineers
'■ ■ -■
Util.,
•The
$913,014
$838,290
$909,742
587,190?
;
483,000
.
7v-
and
$1.77
\
depreciation,
for
provision
notes
accounts
Liabilities—Accounts
Div.
$1.72
stock
v;
•
and
capital
Sheet
payable
$472,125;
taxes
reserve
Galveston-Houston Cj.
$1.73
•
Ended
Period
$1.59
Federal
;
July 31,
1941
•
■)., ' I,
for
on
$42,854;
for
accrued
workmen's
expense
accruals aggregating $95,000 as a contingency towards
for 1941 which may be caused by the Revenue Act of
o? which cannot be determined at the present
153, P. 1129.
-'
.
.
Mos.
„
ividends
1940 y
1941
.,<*■ ,,a
,
———
$5
on
w
&
Pederal
Net
profit
Dividends
*
stock tax, etc.
cap.
1939:
1938
Net
•Gross
Int.
56 j,325
,
%
p.,
2,247
1,084
-
1.316
36,815
499,811
470,324
$90,674
$71,528
378
135
...
23,993
...
.
Balance
Sheet
June
30,
_______
$1,018,778
31,008
354,532
receivable
"
Liabilities-i-Fsderal
Valus
lapital
$0.20
shares-at
cost)
■
and
share)
per
surplus
."...jj,"*.
r-;.;
^''
!'■'
state
taxes
$3,920;
common
$154,833;vpaid-ftr surplus
$2,403,868;
'•
■"'
$40,898
$664,245
$537,553
stock* (par.
$2,405,734;' other
>
The
New
York: Stock Exchange
deposit of the following
ferred
stock;
Shares
of
158,570 shares
common stock/ '
139,044
4,459
_
of
Holders
the
of
has authorized the listing of certi¬
stocks: 479,044 shares of first pre¬
preferred stock and 1,511,06,7.
h
' (
:■
of
road
the first
have
asked to
deposit
p.
837.
-...
:
(&
31—
The properties of
$996,702
$583,502
$274,962
$454,953
t—zs—i -•%. 53,815
100,305
profit
.—r
;
; $l,050,517i
112,722.
.Profit
Depreciation u__—
Fed; & Canadian taxes
v,
48,892
stocks
their certificates with J. P.'
common
-.
•; *317,654
railway
122,469
"—.$38,346
$619,305
678,106
623,124
$19,098
•$4,665
$104,024
*$3,819
8,220
8,233
55,721
57,623
$10,878
oper.
*$12,898
$48,303
*$61,446
accruals—
'
operating
income
Dr
3,949
income-
income
:
30,495
13,565
*$15,717
$4,243
11,447
13,444.
'■»
CO CD CO CO
1,297
income—
767
8,122
7,590
*$14,850
$12,365
*$78,746
,V"
1
295
-318
2,230
$6,018
*$15,268
$10,135
Aug. 21—
Jan. 1 to Aug. 21—
2,303
*$81,05]
Loss.
(est.)
revenues
153,
1940
...
$67,204
;
•
'
1941
1940
$918,131
$51,375;
$731,30J
1130.
p.
$55,281
$153,039
107,150
208,782
208,782
$57,478
'
$45,889
$0.40
" *"
" "J
'
"
Balance
Sheet July
dividends
$231,962;
$14,900;
preferred stock $30,361;
1st
stock
(18,976 no par
(20,000
for
no
dividend
stock (par
par
1st
on
10 cents)
on
market
an
the
which
they could
shares)
shares)
$1.65
be
.
.
'* "
tt
r-
^
: v-Pr^iik^^ Walker
died on
stock
of
*(•;
"S^T' "'r'li*
'
'•[
1941,
not
cauld
$870,497?—-V.
.
■•'
f
marketable
be
be
a
for"
or
$2,473,6li, which"
153, p.
550.
-
Co,—-Obituary--1
*, 11,;
brief illness.
construed
sold
4 jY
*jf>
ft
His age
was
50.—V.
^
-
Wheeler,; vice-president and director of this
Aug. 31 after
1st
$6 cum. 2nd pre¬
general reserve (after
approximately
Pacific; Tea
&
^
v
1941
of
the. securities
v
-
1,
cum.
$1,897,575;
quotations at July 31,
value (which should
repurchased)
■
$7
$30,361) $1,649,639;;
deficit $84,336; total $3,581,316,
$49,650;
which
for
amount
Atlantic
Great
^ •
interest
accrued
taxes $3,527;
$20,000;
preferred
is less than the above book value by
s
'
,
and
dividend payable Aug.
for
reserve
$48,177
$;^roy--
$47,282
1941
indicated
had
as
*
31,
receivable
marketable securities $3,344,108; -total $3,581,316.
Liabilities-^-Accounts payable
securities
"
..
Excess profits tax bf ,$72,164;,,
Includihg Federal tax of $4,650 on rundistribifted jearning^,;:
of deficit_v._,
to statement
carried
Assets—Cash
either
29,826
•>] r g.'ir'f ■■
Onlvi
securities_^ii.
(other than taxes)'" 8,389
stock and other taxes
1,808
ferred
'228,874'.
*
;L'r«_'i__^zuv$57,494
of
preferred stock
$306,877
99,405
tftX
sale
on ;
Note—Based
$465,131
$156,944
: $3.06
2,212
income
common
91,566
indftmP
>
,
,
Total
on
>12,903
$317,453
$4,41"
V
.
income
deduction
$317,801
I'
Corp.—Earnings—
Statement of Income Six Months. Ending July 31, 1941-
$5,246;
t62,985
513
-
.
dividends
StafpS
ei6
1,903
;
$6,313
.
•
~~"473
______
TTnttoH
1941—7 Mos.—1940
$782,130
88,903
'
'•
10,000
Surplus for year.
sh on com stk-v
9nr-
-
$84,238
$5,016
Profit,
-
.*
93,601
r-
"T.827
loans
Earns per
).|nn
'
101,656
income
Capital
$491,405
121,544
$683,807
—
t
13,
Total expenses
36,453
$323,853
..
111,699
'
.
.
partly sec notes
..Net income
Preferred dividends—. /_
'
as
was soid June
company
Balance
$1,664,533
1,209,580
Common
the former
being liquidated
company
$120,754
;,
_______
1,912
Loss
1,048,985
on
38,91-6
-.1938
$1,323,947
Interest
708,138
(Relating to assets in the United States only)
%
1,288,929
Adjustments
$
38,910
1941—Month—1940
Dr.„_
Dividend
$1,872,431
$6,592,949
4,188,710
.
Prov for
747,048
.
________
rents—(net)
.' ^
$329,801
Subs.)—Annual Report—
sales
income
$
,
'* Includes. Federal
preferred, second preferred "and
been
153,
L
$2,404,239
Gross
profit
1,407,537
gelling & gen. adm. exp.
i
617,756
692.
German Credit & Investment
2,907
8,530
$461,151
v
'
i, Deposits of Stocks Asked-—
-'
.242
$22,695
,
reorganization of the company, has been confirmed
{June 16, 1941) b/ the U. S. District Court, for the Northern District
pf Ohio, Eastern Division,, The time to appeal from said order has
expired and no appeal'from it has been taken.
By "order filed July.
25, 1941, the court authorized the- issuance of the certificates of de¬
posit for the listing of which this application is made.
The certificate3 of deposit will be issued and signed by J.
Mor¬
gan & Co.," Inc. as depositary ih registered form.,
.
platt
1,668
expense
depreciation.—V.
Operating
$
87,552
rents—(net)
—V.
$4,131,339 $5,166,085
2,807,392 ..3,501,552
t
of second
tax
fac,
Gross
*:42,827
.
$5,276,349
3,403,917
Net
656,066
3,242
' 70,162
-Week End.
162,018
55,520
13,501
5,694
$50,617
debt
'
The
$
3,242
4,783
I $
90,795
...1941
%
Consolidated Income. Account Years ended May 31—
Xfi1941,.*;%
1940
y.; .1939.
Other
Certificates of Deposit—
ficates of
$
856,238
&
etc._v
Cost of .sale6 befere depr^
•
$268; earned surplus .$17,489p treasury stock (51,179
dr$137,395;f-total $2,444J846_-—152, p. 3022. ...r
Erie R.R.—-Listing of
12,822
73,405
372,054
$66,800
.
8,821
Gamewell Co.
marketable
$1,760;
total $2,444,849.(*
854,15.5
1,199
-
Interest
v:
dividends
$38,527;
71,353
Tae stock of the latter
Deductions -from
$909,607
$71,906
23,994
collateral
of
* Before
1941
accouptr receivable, from broker .(since paid) $694;
securities
at-cost (at quoted ■ market, prices $1,793,412)
Assets—hCash—fdemand y deposits)
V-
69,935
3,484
$90,794
income
Net
.
$1,608^070
A
com.__$
expenses
Gross
$906 124
$1,018,642
120
Co.
on
307,159
,
$1,523,643
Public
stock
July
Non-operating
15 865
40,324
bonds—Houston
on
357,781
30,618
Net railway operat.
*12,090
60,295 '.'
68,012'
72,619
163,347"
'
Jt.
'
5,890
income
Electr.c
,'•• fti.-iz-'
,.v
•
-
pref.
from
rev,
Equip,
$3,830,260
1,896,239
541,653
41,346
income
Interest
3.021
$28,961
$96,033
$49,249
stock——
common
v
2,884
.
$
-•
*
•
2,053
1,981
1,375
144,535
Surplus applic." to interest
,
—
on
Loss.>t
..
—
$1,975,220
£•_;
revenues
Railway
excess
*Operating income
income—(net)____
Amort.-
2,414
$1,881,423
-$
Ended
Operating
$33,260 ♦$ 7,986
$53,038 $100,898
income
193,964
$1,943,329
Above figures include earnings of Nebraska
Light & Power Co.
periods prior to May 1, 1941, and of Gothenburgziight 86 Power
Period
•
Total
$
1,196
•
1,952;051
taxes
equipment notes,
Expenses
31,900
167,294
22,759
income
Operating
1941—12 Mos.—1940
161,301
:4li,5G3
Other
$12,6401 *$22,198
20,613
14,213
$71,043
29,855
'$10,245
42,793
of securities
sale
rofit from
30-r_■
June
ended
30,470
(Including Statesboro Northern Ry.)
$80,730;
compensation
179,780
_r__
50,892
income
profits
Gross
6
$1,850,954
5,505
Georgia & Florida R. R.—Earrnings—
accounts
accident
$4,072,643
Depreciation
.w
188,459
V
>'
153, p.
(& Sulis.)—Earnings—
Fund, Inc.—Earnings-
Iquity
$
3,783
_Tl
bonds
?L^ayTT29'r1941,
1941.—V.
%
•
$317,032
Other :taxes,
amount
time.—V.
163,512
Co. for all periods prior to July 1, 1941.
subsidiary were sold April 29, 1941, the
tax.
$368,582
Mai.itena .:ce
the
taxes
the
1941,
118,bi5
639,923
189,474
Inc.
for all
$1.7G
'
provision
flncluding
stock
1941—Month—1940
July 1—
reveauei__g__:
Ope/aang
Operating
additional
additional
-$
10,625
"y
•
$ 3,30S,840
underaccrual for Jan. and Feb. over
Income tax is based on an estimated rate of 30% against the original
the remaining ten months of the year.
The rate under the present
law is 24%.
In the month of July 1941 two of the companies set
iip
subsid.
366,000
399,000
-
cumulat.ve convertible participating preferred stock (par $15)
$2,082,000; common stock (par $1) $420,000; earned surplus $3,984,384;
totai $7,102,235—V. 152, p. 1590.
'Vs
--c ' .--v"
2,285,192
3,278,590
and surplus _____$
19,250
-$
Balance avail, for
$20,141;
$ 5,592,032
2,275,490
—
spreading
27%,
715,023
'
and sundry assets $219,674; land, buildings,
$2,764,291;
deferred charges $48,536;
total
investments
income
do not consider that they have any lia* ility under
profits tax act of 1940 as amended March, 1941.
Begin¬
the month of March, 1941, the accrual for Federal income
based
on
an
estimated rate of 30%
against the original
of
224,023
f
^
deposit and on hand $1,019,869; notes and accounts
(iess^ reserve" of
$193,782)
$810,160;
inventories
on
.etc.—(net)
>
companies
in
698,476
income____.
$7,102,235.
excess
tax
748,559
53.4.J2
Notes:
$1.85
$1,239,705;
ning with
estimate
69,497
-$
Railway
the
239,470
interest
Net
420,000
receivable—trade
Public
_____
Earnings per share of common
18,707
59,834
taxes___.
income
of
Interest
432,145
shares
-Assets—Cash
Engineers
___$ 5,554,080
t
Public Service Company
Dividends
on
pr-f. stock
2,630,985
36,112
68,275
income
Charges
24,551
•
261,565
declared
Including
doubtful
102,750
______—______
/.'r-v--,
$6,271,298
2,703,081
2S6.427
7,795
______
inc.
opert.
Gross
$1,388,541
$1,105,697
$946,024
year
machinery
■.
1941—12 Mos.-U940
$6,471,105
577,148 -
233,460
exp,
Balance
48,454
r
for
inc.*
common,
184,810
60,190
__________—.»—
_„•
Balance
$
710,790
466,354
Balance
56,760
_______—__.l——_—.
Expenses
Subs.)—Earnings—
-
$1,413,092
71,205
__
taxes
Earns, per sh. on
$ 5,551,083
Earnings from sub., inch as deductions above:
Preferred dividends declared _______—177,036
"Total
572,708
retirements
taxes
Non-operating
1938
1939
.
\
(&
20,532
Charges of General
$1,455,370
Dividends
sources
-$
revenues
normal
Net
malt
from
income
Income
Deductions applicable to sec. of subs. ownGd C^
:
>"
by parent-co. Included above—
u %
preferred divici&tfds hot declared:_5__—3,048
Amortization of' bond discount _—
;.
7,574
7,574
other
for
Prov.
Inc.
1941—Month—1940 '■
31—
$ 5,570,306
25,568 ;
Amount
from
Utilities,
July
Maintenance
$8,263,494 $10,496,735
6,477,294
.8,397,403
$8,031,682
681,593
expense.
income
Gross
Income
Earnings
.
with
expense
storm dam.
of
Other
1,798,665
800,665
$
div. earned but not declared-
Interest
Public
oper.
Amort,
$ 9,977,066
.2,608,095
pref.
of corrugated shipping containers.
formerly President of the St. Louis Container
Gaylord.—V. 153, p. 988. ;
■
affiliated
End.
Operating
per
Malting Co., Inc.—Earnings-
July 31— V
sales
Other
$10,023,885
810,790
$
—
Cumulative
dividend
extra
an
1941 %
malt____'— $8,176,511
Years Ended
Net
preferred stocks, declared _1___—. 2,831,185
on
manufacturers
Buhrmaster,
be
Period
the
to
common
Froedtert Grain &
f
Balance
Dividends
declared
have
fSe.l & admin,
Interest
R.
will
1274;
p.
1,767,307
6,336,448
215,788
,%v: 505,777
1,425,683
,
'''.
Corp.—Acquisition—
mortgage,-hearings will have
new
a
20,401,562
3,895,523
526,441
:
503,543
•
.
3.614,375
•
-
5 56,362
taxes-
opert'g
Other
537,907
.
__——
income
—other -taxes
Container
substantial
share
of record
bept. 15.
Like amounts paid on June 30, last.
Extra of 50 cents
paid, on Dec. 28, .June 29 and April 1, 1940, and extra of 25 cents
was paid on June 30 and April 1, 1939.—V. 152, p. 3652.
$ 4,734,444
1,730,340
$ 5,433,993
z
Depreciation
i
»
;
Fox Brewing Co.—Extra Dividend—
Directors
ori
nos.—1940
1941—12 r
31— 1941—Month—1940
July
revenues-
Maintenance-
...
:
■
$54,572,400
Subs.)—Earnings—
(&
*
•.
in
General
in
Co.
V '
help meet the demand of the present National emergency
keeping with its program of expansion, this corporation ha$
acquired the assets and goodwill of the St. Louis Container Co.,
the
to
(Peter)
Service
"v
•'
.
was
Engineers Public
1275.
p.
In order to
and
Interstate Commerce Commission for issuance
securities probably will" be made at the end of September.
Application
6% debentures was reduced,
,
by 119,304 no par shares,
t After depreciation re¬
$1,205,603 in 1941 apd $1,236,012 in 1940.
t Represented
(2,007 in 1940) shares of preferred stock, at CQSt.
§ Muni¬
of
Gaylord
in
involved
&
&
Rayen Terminals
•
'
$6,123,623
••
$4,849,400.
ttValuation at market-' quotations at June 30, 3941 was
and at June 30,
1340 was $85,455,900.—V. 153, p. 1274.
1940
30,
June
1
$7,040,435
by 2,124
cipal securities only;—V.1153,
mort¬
'
capital structure.
to, be held before the court of jurisdiction in Cleveland.—V. 153,
at
96,099
1
•Represented
bond than those
coupon
agreements, for a period, including the years 1939 and 1940 and
1, 1941, to a rate of 4 >/2% per annum. .w;7v %
v'%
••Valuation
at market quotations
at June 30,- 1941 was $4,927,600
and
$6,123,623
696,679
1,702,106
•Total
Nov.
.
697,339
Pats & fran.
the refinancing operation include: $6,700,000
Vaiiey Ry. coil, trust notes; $2,831,000 Cieve-.
Mahoning Valley first mortgage bonds;
$8,000,000
Nypano
(New York, Pennsylvania & Ohio) R.R. prior lien bonus and $541,000
land
by
to
assets
182,289
ch'ges
assets 1,792,808
tCap.
serves
"V
;;
Consolidate
.
(3)
assumed by United Gas Corp.;
1937.
'
:
II The interest rate on Cuban Electric Co.
Nov.
on
Total __z_$7,040,435
34,955
368,689
re¬
Other
first
a
charges by issuing,
fixed
Cleveland
Co,
principal amount.
of principal and interest
will be
outstanding.
The
t Presently
t $4,800,000
Cut
,(2).
:
payable on or before Oct. 26, 1942.
.
• .
subordinated to other indebtedness of American, & Foreign
Inc., consisting of bank loans of $12,400,000, the $3,100,000
similar debt due this company and debentures of $50,000,000, until the
bank loans are paid.
•
>
.'•■
• 1 '
;
■ ■%./
and
16,291
333,704
___
gage.
Payable simultaneously with the bank loans of American & Foreign
Power Co. Inc.,
in amount of $12,400,000 which have been renewed
f
Power
519,141
drl78,594
(not
Def'd
,,
ing on these properties the road will accomplish three major objectives:
% ■$557,668,280
$557,424,879
Total
839,182
stock
ceivables
mortgage on the subsidiary companies
in New York, Pennsylvania and Ohio.
Jby calling bonds now outstand-s
now
!
___
_^__drl89,537
tTreasury
lease
Def'd
,
3,549,234
Surplus
to
cvrr.)
issues outstanding.,
public offering.
or
The new bonds
4,893,982
.
issue $18,000,000 of bonds to
The new bonds
and will be due
shortly
rate of around 3%%
1,628,554
3,549,294
*
685,954
______—_____
will
coupon
a
from 25 to 30 years.
placement
4,893,982
—
said,
is
consolidate, subsidiary
It has not been decided as yet whether the offering will be a private
,
;i__
from capital surplus)
(app.
and
expected to have
are
In
____
taxes
Reserves
,
it
company,
refund
1940
1941
Liabilities
61,232
110,156
1,576,047
stock
un¬
der
Refunding—
126,421
con.
sold
104,658
stock
♦Com.
16,164
un-
com.
Eq.
con.
$5 pref. stock (300,000 no par shares) ___ $ 30,000,000
115,565,500
$6 pref. stock (1,155,655 no par shares) _
Pref.
19,548
__
mun.
$18,000,000
receivable
contract-
warrants
and
accounts
under lease
current
109,019
inc.
notes
munic.
to
113,314
instal.
on
sold
Equip,
52,622
334,507
^—
for U.S.
Unreal,
755,444
1,339,047
272,738
cap.
& Can. txs
2,193,964
nominee
and
Res.
$
160,000
pay._
on
stock
637,772
reserve
'■
•
Said
the
§12,948
less
Inventories
such stock and warrants are available
alter
exchange.
Road
authorize
may
vote
for
certificates
plan promptly
court
to
Divs,
cost)
rec,
,
the
as
managers
sec
1940
a'rued_$• 613,663
Notes
and
(at
depositing
agreement, iu
1941
payable
&
Notes & acc.
stock with the depository, holders may file
the form approved by the court, with the de¬
positary or on before Sept. 29.
Such agreements will provide that
the stockholder waives formal notice of any meeting of stockholders
which may be held to
take action to carry out the reorganization
plan; such stockholder also agrees at any such stockholders' meeting,
provided three days' notice of such meeting is given, to vote such
5,037,120
—
of
written
a
25,000,000
19,500,000
—
and
Ebasco
5,037,120
25,000,000
3,326,450
1st mtge.
§United Gas P. S. Co. 6% deb, 1953
llCuban Electric Co. 6% deb. 1948
lieu
In
740,0C0
1940
1935—
mtge.
31
May
Liabilities—
Acct
415,435
358,08
Govt.
S.
States
Bonds:
North.
$
;
munic
,
Sheet
1940
ASsets—
Cash
issued for the stock certicifates which will entitle the holders to receive new common stock
certificates and warrants,
All deposited shares will be transferred of
record to a nominee Of the reorganization managers on Oct. 1, to be
voted in approval of the plan of reorganization^
Negotiable
\
receivable—
fAm. & F. P. Co., Inc.'—
United
izing
Balance
Consolidated
Co., Inc., mamcd as depositary in the court order authefexchange of certificates under the plan of reorganization.
Morgan &
1940
advances—
account
&
53
FINANCIAL CHRONICLE
Number 3977
<
.' /
»
^ *
company;
153, p,
550.
54
FINANCIAL CHRONICLE
Goebel Brewing Co.—Earnings—
Periods
•Net
Earns,
•
Ended
$177,125
sh.
per
$0.13
stk.__
com.
1941—6 Mos.—1940
$121,814
$239,913'
$0.18
$0.09
tax
special meeting of shareholders of the company has been called!
Sept. 9, 1941, to authorize acceptance of a plan of financing
recently
negotiated
for
the
company
by Distributors Group,
Inc.
The plan comprises a
12-year mortgage loan for $850,000 at 4%'from
the Equitable Life Assurance
Society of the U. S. (the present 5%
loan from the Equitable to be retired)
and a 5-year: term loan for.
$250,000 at 2 Vz %
for two years and 3%
thereafter, in which the
$0.12
assets,
$1,228,536,
and
for depreciation and Federal income tax, and excess
1941.
in
Current
and
of
as
30,
June
current
1941,
liabilities
including $351,872 cash,
$697,134, compared with
were
were
cash
marketable securities of $407,384, current assets of $1,075,086
liabilities of $502,038 a year ago.
First
and
current
addition
have
to
amounts
dividend
extra
an
quarterly
dividend
of
of
5
like
cents
amount
p. 3654.
the
on
Marine
and
Trust
Midland
Co.,
Trust,
York,
New
income
Earnings
(after
per
Note—No
:"
'
1131.
p.
The
Years
Ended
June
to
all
charges)
provision
$1.25
new
made
1940
$1.17
for
Federal
excess
$
why
6
Mos.
Net
Aircraft
End.
income
Includes
tablished
Also
The
further
A
$484,493
price
7%
on
is estimated
contracts
Per.
which
be
to
r
w-w;
■
/.
Gross
„
contracts
buildings
equipment
ciation
cost
at.
reserves.
Investments
land
to
$14,s<j7,140
1
>
-
Net
153,
in
other
facilities
June j0
on
> ,v:
''
cost
'
•
Taxes
at
from
Realty
Directors have
Profit
the
-V.
Period
_
$
Gross
No.
56,504
416,796
306,378
1,402
9,033
10,075
57,903
425,829
i.
97,877
Provision
for
$167,744
100.116
82,434
The
22,413
15,833
15,833
$44,581
Int.
$47,063
$565f189
19,046
20,139
230,900
744
6,416
&
other
$26,924
$334,289
Co.,
139,627
income
_________
pref.
on
stock____
5,584
Balance
5,584 '
$19,951
13,851
512
100,000
$1,962,970
12,345
With
Aug.
on
Form
29
A-2
has
also
$
12,364
$
39,610
$
Hamilton
United
$522,737
242,319
$6
filed
the
SEC
registration
a
Securities
Act
of
statement
1933,
covering
par value.
taxes
67,014
of
shares
are
stock,
no
of
common
stock,
no
to
purchase
■
the
W
,
of
remaining
furnished
by
the
registration
amendment.—V;
the
Railway
oper.
153,
of
13
shares
151,545
accumulations
to
holders
—V.
of
152, p.
the
on
7%
cum.
Sept,
record
15
share
per
account
on
$1,230,519
822,310
5,291,057
incl.
A.)
Hanna
Directors
—V.
Co.—To
declared
Pay 35-Cent Dividend—
dividend
a
of
35
cents
share
per
the
on
$301,379
•
$127,166
$3,127,590
■
$
_
income
$1,213,575
26,039
153,
41,429
36,777
1940
14
on
value,
par
no
with
compares
cents
and
payable
25
Sept.
cents
paid
12
to
holders
June
on
12
of
and
;
Sept.
18, last,
1,
$
3,104,945
Water
Securities
vthat It
had
373)
under
tion
and
"1958,
per
Co.—To
and
approved
the
application
filed
Company Act
of
increase
an
in
by
the
regarding
itsiii'3t
premium
proposed
bonds,
reduction
on
Sept.
(File
company
a
mortgage
a
International
on
in
—
1,373,345
2,172
2
At
due
•Includes
&
Electric
Corp.
holding company
collateral
L.
W.
full
time
to
announced
the
the
offffice
of
153,
J.
Kennerley
Assistant
appointment
Comptroller.—V.
F.
of
W.
who
Treasurer.
S.
Harkins
will
Mr.
devote
Morrow
Assistant
as
1,618,376
also
to
holders
the
50'/o
6
Mos.
Net
June
End.
profit
Other
from
Corp.
30—
for fed.
income
inc.
expenses, etc.^-w.—.
and excess proiits taxes.;
7%
*
—
Preferred
.—$
Cash,
$
774,234
372,641
187,785
16,275.
Balance
notes,
1941 "
acceptances
$616,977;
and
for
federal
income
Of
affiliated
equipment (net)
and accrued items, $508,464; reserve
excess profits taxes
payab.e, $303,522; reserve
excels pro-its taxes payab.e 1£42 and 1941
i=L nenera income and
l
rc/,erve for contingencies, $25,000; common
fLJ2'
*
r, cum' pref' stock' series A, $2,009,009;
iOA^n>^' v,earned
(24,503
shares;, Dr.
the
$370,936;
Sheet
stock
($10
pari
$
surplus
treasury!
in
990.
these
plan
the
is
gold
met
p.
1753.
Liabilities
paid
•/.
...
,
.•
t-j
1941
tax,
1,491,547
Notes
1,450,208
2,760,800
3,218,848
1,280,509
1,074,034
rec.
-
Res.
etc.
r
6,069,030
5,952,497
Res.
.;
.
11,718
due
for
31,339
<
16,000
15,000
Fed.
! Reserves
12.960
36,508
338,681
;.
inc. taxes L '
••
204,671
263,892
com-
for inj.
em.
250,000
596,401
_
pay.—
for
pen.
fv
■
.
250,000
liab.
Accts.
■
$
pay.
; Acc'd
■
•.
1
1940
$
714,350
327,585
76,316
95,612
U—y y
OffiC.
and
;
empl. part.
in
profits-
•,
of
;
446,759
with
the
share's
the.
plan.
bonds
voted
each
on
of
of
the
a
1
;
Finance
and
$5,209,308
connection
with
cooperation
of
the
sold
for
(3.)
to
cash.
its
principal
.
.
International
subsidiary,, the
v.:/
Mercantile
United
in
;
of
by
;
%
r
The
by
&
stock
The
company.
will
Electric
the
Kobe, Inc.—Accumulated
Directors
.
have
declared
of. accumulations
able
r
Oct.
1
to
the
on
Re¬
a
of
Dividend—
dividend
6%
holders
preceding quarters.—V.
153,
of
30
cumulative
record
cents
20.
Directors
have
declared
addition to the regular
common
Lines,
stock,
Extra
..
15
16,
of
1940,.
—V.
152,
both
cents paid
and
p.
3813.
Sept. .15
June
extra
an
dividend
V:
of
quarterly dividend of 15
on
to
14, last,
15
of
account
on
par
$20,
amounts
pay-
paid
in
—V%\
extra
an
stock,
Like
244.
p.
payable
share
per
preferred
Sept.
Kysor Heater Co.—Extra Dividend—
;
The
the
$115,519
depreciation
4 Represented
•
-
exchange of preference stock and junior preferred stock
Lines Co. now owned by I. M. M., for shares
preference stock of the United States Lines Co., in connection
with
the
proposed
plan of recapitalization of the Uniited
States
Lines Co.—V. 153, p. 839.
of
of
for
1940.
be acquired by the parent
company, New England
Association at par.
'
.w
Kittery proposes to use the proceeds from the sale of the securjties to repay existing indebtedness and for Improvements and
extensions of its facilities.—V. 153,
p. 1333.
''
Marine
States
12,031,413
discounts
reserve
in
1278.
p.
5,589,029
13,024,544
and
t After
shares.-r-V.153,
no
common
of 6%
bonds outstanding .would receive
in the form of a new 4% collateral trust bond.
properties of the
3,156,800
6,450,785
surp.
Total
balance
1940,
par
Gas
asimplificationof the
subsidiaries,, .-ullnder.. the^ plan,
the
stock, 3,156,800
Securities and Exchange Commission on
Sept, 2 approved the
the company of $150,000 unsecured serial
notes first series
due ' 1966, and 1,200 additional shares of
common
stock ($50
par).
y: '
■
The notes will be purchased
by John Hancock Mutual Life Insurance
Co, through the First Boston Corp. as
agent for the
about
possible through
Corporation.
304,036
1,750,000
3Va%
'
in
in
1941
sale
was
company
____
1,500,000
Kittery Electric Light Co.—Sale of Securities—
the
plan,-■ only
'V.'y( tV
; •
doubtful
$112,738
in
%
Oct.
refinancing
.
tor
reserve
and
757,632
Stock-
1,11941 (for
overwhelming approval
tne
After
y';'"
.
term
-
■' ■;!'.
V.
due
.13,024,544- 12,031,413
$5,576,863
! ' V
cents
of
per
share
share
record
in
the
on
!3ept.
2
of five cents paid on Dec;
one
cents
10
cents per
holders
-
JV'..
;
..
was
paid
June
on
V"
1940
15,
!
V.".\
y
United -States
Lehman
The
-
of
Corp.—New
Director—
proposed election of six
new
:
members
-
to
,v
the Board
thi^ corporation, at the
,
Of Directors
annual
meetipg on Oct. 15, was announced
Sept. 5 by Robert Lehman, President ox the
Corporation.
With two
of the present officers of The
Lehman Corporation, there
would be
ponstftuted a majority of the Board
Period
Ry.
operating
Net
1
Rys.
of
Central
July
1941—Month—1940
31-
revenues—$
from
revenue
448,277
1941—7 mos.—1940
419,683
$3,484,852
178,007.
$
_1,49.3,419
ry.
!
operations
176,237
Income available for fixed
'
charges
Net
America- -Earnings-
on
June
v.f
..
15
•.• v
l£4o
..t
V
independent of the firm of Leh¬
Brothers, which manages The Lehman Corporation under
a man¬
man
ended
143,090
income
•
agement contract,
Five of the proposed
—
$3,724,776
v
J.
.
1,552,376
Leo
'■ • '4
-V :'V'.vv
}62,482^ ,1,286,204 U 1,399,542
ation,
.
81,300
738,839
•
821,759
T.
of
Crowley,
Corp.—Treasury
Department
and
Herbert
are:
Chairman
of
"
-
;
the
Board
of
P.
of
the
The
of
the
the
Howell,
&
L.
Bailly,
Another
in
General
Standard
Trust
Willkie,
Philippine
Chairman
other
of
.
<
Fedefal'
Gas
&
Electric
Company
a
member of
future.
nominees
for
of
the
'
Brook¬
States,
and
Commercial
Na¬
Islands.
the
Company of New
New
York City.
director independent
near
the
Chairman of the Federal Deposit Insurance
Corpor¬
Chairman
Bank
Wendell
Plea—
members
York.
Dwight F. Davis, Chairman of the Board of Trustees
of
ings Institution; formerly Secretary of War of the United
tional
De¬
new
formerly
New
'
Governor
Note—Federal Income. Tax for 1941 accrued at the rate of 30% in
anticipation, of possible increase in the tax rate.
Company believed
exempt from Excess Pfofits Tax.—V. 153, • p/ 694.. j- -;
nies
Case,
.
65,539
Superpower
Herbert
Reserve Bank
^
Board
York
of
the
City.
the law firm of
Willkie,
the management
will
be
Owen, Otis
nominated
the
new
Board of Directors of The
Leh¬
Corporation will consist of the following
members of the firm of
Lehmahl Brothers: Robert. Lehman. Allan S.
the
-
excess-profits
leurr.)
irado-;
.1941
for. Refin-
Approval
bonds
v/ith
bond3
to bring
and
its various
made
That certain
Italian
declared an extra dividend
of 29 cents per share" in
regular quarterly dividend of 25
cents
per share on
the common stock, both
payable Sept. 15 to holders of
record Sept
5.
Extra of 10 cents was
paid on March 15, last, and on
Dec. 15 and
Sept, 14, 1940, and one of 20 cents' was
152,
$0.96
■
tCom.
submitting
be
have
to
7,793
757,632
30
•Earned
.
paid-in
c03t of common stock
total, $7,966,155.—V. 153, p.
Hickok Oil Corp.—Extra Dividsnd—
Directors
$
$1.18
•
June
1940
291,527
marks, etc.
charges
and
addition
727,543
719,750
480,601
debt
$11,469,000
in
payable
and
of
is
it
plan
'(2.)
Co.,
re¬
comPfRle3i $715,052; plant, property and
$3,440,717; patents, processes, formulae,
etc., $510,099; de-erred charges
and prepaid
items, $32,210; total,.$7,936,155.
Liabilities—accounts
against
issue
International
'
accounts
investments
♦
,
V
on
Sheet, June 20,
trade
inventories,
10,850
law.
55,337
757,632
$1.87
and
fix.,
$
757,632
V
$2.13
Long
of prior
187,837
proposed
$1,974,528;
(netr $676,672;
83,990
257,327
541,072
dividends
according to
Consolidated
Assets
ceivable
!
713,959
I
-
*536,4^7
dividends
Estimated
1940
698,697
$
.
416,638
757,632
-
>$•
bldgs,,
equip, furn.
this plan to stockholders," it, was necessary for the
company to obtain stockholders' approval of three resolutions
(1.) Redemption of -the bonds, 4is previously. explained, y.
>
15,262
129,123
897,299
643,987
.860,744
-
$
206,633
research
of
connection
in cash and 50%
In
Co.
______________
Common
:
V
______$1,183,316
—
Experimental and
Net
1941
f
_____—_—23,317
income
Prov.
Subs.)—Earnings—
operations
income
Total
(&
-
.
advs etc
&
1,418,221
provision for declared value
provision for excess-profits tax. ■
tLand,
'
$
757,632
1941
Inventories
$526,844
'/
Briefly,
construction
Chemical
in
839),
p.
total
a
6%
voted
original
This
Hey den
1%
of
153,
Of
refinancing of the
corporate structure
his
1276.
p.
V.
see
fund
arrears.
1
Morrow,
succeeds
>
7,598
1,374,432
accts.
$40,000,000 and
to date
there have been retired bonds of the principal .amount of
$28,531,000,
leaving $11,439,000 still outstanding and due Oct. -I, 194l:; Interest
has been
regularly paid on these bonds, to date and there are no
Mason, Assistant Comptroller was appointed
comptroller of the
according to an announcement made by E. B.
Mason
sinking
resolutions
three
The
company,
Mr.
Co.—Plan
With
"v^A. Vy,
■■
stockholders.
fraction
sys¬
trust
details
full
of
Hercules Powder Co., Inc.—New
Comptroller—
'Treasurer.
1,091.983
53,984
$38,002
$161,367
■
a
special meeting of stockholders of the Co., Sept. 2, - a plan
refinancing
of
the
company's
$11,469,000
First- mortgage-.&
for
interest of 4%
com¬
is in the Associated Gas
153, p. 989.
Marine
Meets
Bonds
holders—
the
tem.—V,
Mercantile
of
ancing
70-
principal.
There are
^9^.6,000 of the bonds outstanding held as follows: Metropolitan Life
Insurance Co, $418,090; the Northwestern- Mutual Lite
Insurance Co.
,'$280,000; and Mutual Benefit Life Insurance Co; $258,000. The
pany
57,762
2,772
—
modifica¬
series A,
2,021,377
&
._
Stock Offered
Clark,
Dodge & Co., after the close of the market Sept.- 3, of^
fered 1,900 shares of 7%
cumulative pref erred., stock
(par $100) at $164 per share.—V. 152, p. 3346.
Rate—
announced
$
2,369,494
14,770
Def.
International Harvester Co.
6.
80
v
Commission
indenture, providing for
and
annum
the
Holding
amendment
and of the
Reduce .Interest
Exchange
$
deductions
*
The
1,963,615-
50,228
121,377
Total
Hazelton
7,685,224
$
-
23, 1940; 30 cents Oh Sept. 13, 1940; 20 cents on June
March. 13,. 1940 an I 25 cents paid on Dec-: 22, Sept. 20 ana
1939.—V. 153, p. 693.
on
June
,,,
2,319,268
$
12,997
259,822
.
9,648,830
4,679
22,878
$895,452
1938
$
8,721,052
3,022,869
common
record
March
1939
82.076
3,742,652
expenses.
-
!
Dec.
on
net income.
$11,040,320
10,256,652
$
.
stock,
This
the
Excess
199,915
.
Assets—
990.
p.
estimated taxable
$13,279,520
3,522,404
$
_
admin.
Cash
$809,544
,
292,084
$62,374 ;*
.
and
1,205,298
Pats.,
$85,548
s--_—.
$6.80
for
rates
309,130
and
17,604
3,344
tax
Income
Co.—Earnings—
220,248
of
-
721,008
-
20,299
2,402
$102,495
3,812,540
$6.57
1,320,228
!:<: 52,687
$791,940
3,004
—
the
1941
__
income
.V. 576,008
.
$1,193,276
2,875
charges.—.
income
of
$
"50,325
$2,088 956
"
$100,033
$130,041
_________
income
fixed
Net
(M.
income.
deductions
Total
1,120,848
3,689,599
taxes!*698,435
Invs
3656.
30%
Balance
784,371
Misc.
$
$0.50
12,545,093
________
profit
•Notes
pref. stock, par $100, payable Sept. 30
leaving arrearages of $11.75 per share,
1.600,552
283,953
de¬
Net profit from oper..$
4,641,140
656,595;^
1,149,943
income
•
Federal surtax
$6,730,096
81,725
oper.
of
Wire
&
Balance, surplus __$
Com. shs. outstanding
Earnings per share
$8,418,687
119,562
ry.
$
$0.53
June 30—
Amort,
1941—7 Mos.—1940
\
$957,974
120,112
Total
17,098
66,151
;
.<
Federal
■
160,931
of
■
..
•>
for
-v
tax accruals—
& jt. fac. rents-
Other
dividend of $1.25
a
109,055
299,968
__$16,0G7,497
Selling,
stock
common
$408,299
ry.
:
Interest
,
the
oper.
Net
19,428
68,573
-
-
992,
Miscel.
shares
such
1276.
p.
1941—Month—1940
expenses.
Accumulated Divi¬
—
1,560
5,437
.
_•
from
1,570
5,675
rate
Steel
end.
Total
R.R.—Earnings—
July 31—
revenues.
rev.
102,476
1,132,118
tax
general expenses
par
concerning
oper.
Net
1,427,736
102,479
2,175,407
•
sales
Other
.
value,, to exchange
Houston Lighting & Power Co.
Railway
67,014
1,451,702
8,540
179,163
Light
options
stock.
Indiana Harbor Beit
$213,126
119,616
8,018,96ft
$ 8,678,970
8,540
<■
at
p.
Gross
an
and
details
be
8,826,327
term
in.
Cost of sales
183,750
$267,275
$21,340
Theatres, Ltd.
declared
$16,697,030
9,107,741
3!
income
after
153,
Net
Light Co. previously filed an application under
Company Act regarding a proposed offer to holders of
stock
120,827.
___________
preciation
with
the
shares of common stock outstanding,
held by its parent, National Power &
of
holds
preferred
to
are
dend—
Directors have
show
85,802
500,000
common
Power
Holding
652,647
$<■707,330
pre.
deduc.
state
Profits
SEC—
under
number
499,987 shares
Further
1,014,163
1131.
p.
$17,934,069
year
15,000
Equip.
153,
to
ordered
1941—12 mos.—1940
1,359,976
$
Note—Pending the final, enactment of Federal
1941, provision has been made for Federal
47
28,448
15,000
Railway
—V.
being
182,829
Keystone
Stock
which
&
lim.
inc.
&
com.
(Tex.) Lighting & Power Co.- -Registers Com-
Period Ended
Net
XJivs.
in
share
per
from paying dividends on its
Committee on Floor Procedure
the
770,954
_$
profit —L
$
Earnings
per
share
128,257
^
25,000
$
outstanding
common
$280,140
deductions
corporation
1,556,888
Net
5,170
17,983
14,123
242,597
$25,535
income
the
restrained
31—1941—Month—1940
Common dividends—
Gross
cents
(incl.
dis.
of
taxes
990.
company
which
its
$2,173,424
1,081,411
336,824
183,999
deprec.___
July
investments
81,664
21,000
__
——
undetermined
1941—12 Mos.—1940
$188,160
expenses..
of
Miscl.
316,453
11,815
2,369
p.
2-4827,
the
1941—Month—1940
Taxes
60
to buy and open stop orders to sell in
Aug. 30,
1941, be returned to prin¬
adjustment.—V. 153, p. 1278.
or
Depreciation
14,709
I
revenue
153,
Company
Dividend—
27.629
Operating
ex-dividend
to
abandonments
National
revenue
^
following notice:
transactions)
business
charges' ___;_
Amort,
Years
6%
July 31—
York
.
"cash"'
785,934
624,034
•
92,240
__
__
Loss
Houston
Co.—Earnings—
Ended
of
be
orders
of
earnings
930,412
'•
V
1,962
.
Power
$
664,334
.
of
Gulf
1,081,130
—V.
$339,308
dividend
a
$
101,005
90,277
Replacements
$2,959,446, Total assets amounted
capital turp.usWas $542,340 and earned
stock
consists
of
508,060
shares.—
Co.—Accumulated
oh
end.
Interest
'
&
Antic,
Capital
declared
accumulations
157,509
2,695
Depreciation
of 75 cents per share on account
cumu.ative preierred stoca, payable Bept.
30 to noiuers of record
Sept. 2o, mxe amounts^ were paid in preceding
quarters.—7. 152, p. 3655.
of
$
oper
assign.
mon
Guilford
$
113,615
tran.
operations.
ry.
550.
p.
203,893
than tran.
rev
Net
valued
were
$
—
Interest
!;'v.v.
■
corporations
from
rev.
Net
current
were
xasc,
open
close
confirmation
Expen.
Fed.
assets were $9,902,858.
buildings) machinery
and
$1,025,404 after deduction .ox depre¬
at
not
tax)
7'
Expenses
Rev other
uncompleted
,
plant
$1,510,125.
was
and
progress
vaiued
were
at
emergency
dsurpius
in
(excluding
be
preferred stock,
Earnings'
Net
1941—7 mos.—1940 %
com¬
tor the six months ended June 30, 1941 were
$9,011,013
backlog at the close of the period was $74,500,000.
These com¬
with billings of $2,326,394 and backlog of $8,932,502 a
year earlier.
Company on June 30, last, showed a cash position of
$3,088,075, of
whicn $1,676,979 was restricted ior use in
connection with certain (J. S.
government
will
•
City Power & Light Co.—Earnings—
Period
152,
Amort,
the
Land,
view
should
and
the
at
Ltd.—Earnings—
1941—Month--1940
from
Iranoportation
pare
V,
Revenue
Operating
the cost for thi4
having been earned
expected
July 31—
contracts.
of
as
are
year,
fee
end.
Gross
Billings
and
it
for
Kansas
$0.95
taxes.—V.
•:
Honolulu Rapid Transit Co.,
1940
,
excess
cost-plu-fixed
is based
contracts
of
sum
fixed
the
wuu.n
uncompleted
on
such
on
uncompleted
pleted
on
$159,194
fee
income &
—____';,$747,218
$329,711
profit, computed according' to corporation's es¬
contracts completed during accounting period.
$103,531
earned
period.
on
L
practice
incluacs
1941
for Fed.
stock
common
New
<
the
Corp.—Earnings—
30—
prov.
taxes
profits
*
June
before
Engineering
1
has issued
transactions
(except
2,
that
suggests
169,827
$1.58
profits
Corp.—Ruling by
Exchange
1939
255,703
'.
Sept.
common
cipals
235,323...$
Stock
shared * In
per
cause
be
Steel
5% preferred A and 6% preferred B stocks will be ex-dividend
the
and
Oper.
Grumman
York
Corporation's
30
■■
■
•
$
share
common
Laughlin
Beginning
York
are
New
effect
for
1941
Net
New
&
Stock Exchange—
„
participants.
com¬
••
.
Cincinnati,
Bank
Earnings
payable Sept. 30 to holders of record Sept. 8.
Like
paid on Sept. 28,'1940 and on Sept. 30, 1939.—V. 152,
■'<
Bank,
Continental
share in
per
both
were
the
equal
declared
regular
a
stock,
mon
National
and
Extra Dividend—
Directors
Jones
A
for
$167,293
After provision
profits
.
on
Hilton-Davis Chemical Co.—Financial Plan Proposed—
1941—3 Mos.—1940
30—
June
profit
Saturday, September 6, 1941
man
The
U.
S.
corporation
Italian
in
exchange
been
Treasury
for
interests
for
announced
av licen-e
of
blocked
lire and
p.'1132.3
Hocked
denied.—V.-'153;
Aug.
29,
authorizing
dollars
and
that
the;
certain
stocks
of
an
the.
of
Italian
s""-
application
acquisition
its
'
own
companies
-
by
from:
debentures'*
" ;
.
has
Lehman, Monroe
,
C
Gut-
man,
John M. Hancock, John Hertz, Paul M.'Mazur
and William Jtt
Hammerslough, ,and in addition,two of
the..present officers of the
Corporation, namely, Arthur H. Bunker, Executive
.Vice' Prer'dent
and
Alexander Sachs, Vice ProUdent.—V.
153, p. 840.' ""
< v-
;■'
reorganized
the
of
ownership
company
'
Exchange
Commission on Sept.
filed simultaneously with
was
.-*7.'
;
be
fee"
basis.
ments
p.
to
Period
Total
Non-operating
i Gross?"
>
1,752
income_i
General
Fed.
inc,;&
-H
the
;
Prov,
-
tor
The, .Laclede Gas Co. common stock -to .be received, either , by Ogdcn
Corp. or Lac'.ede Electric under the plan will be offered for sale within?
one year
after completion of the plan to . residents .of Missouri at a
price to be approved by the Securities and Exchange Commission.—
153, p. 992.
Int.
earnings.,
mtge. debt"'!* L
on
14,853
195,532
183.294
364,954
299,905
$74,952
$900,976
$990,499
'
22,604
* ,'
"
22,604
271,250
'!■"
Bal.Aavail
share on the common
payable Sept, 22 to holders of record Sent.
$1,50 were paid in previous quarters this year.—V.
(net)
income
Net
32,792
331
3,995
827
$32,448
$45,357
13,460
161,530
common
993.
p. ;
$31,897
$434,575
$18,988-
s
.
-
preference,
;v
reach
"
•.
no
1939;
Dec.
cents
other
counsel
At
25
to Vote
Purchases of Autocar Co. Stock—-
In
:■?
$1
With
order to
purchase
can
1
v
equip.-,-
Long term debt
$3,502,739
1,878,395
1,746,746
58,494
41,710
711,065
491,559
31,000
25,000
342,000
-$ 68,831
$ 74,595
i
41,473
40,098
^7,358
$ 34,497
-
70.099
Cash
207,915
•
121,385
Notes
receeiv.
1,500
receiv.-
175,426
116,248
jnt.
receiv.™.
Mat.
&
12,599
8,333
21,143
Prepayments—*
reserves
2 616,131
stock
Common
12,996
.
($1
par),_„-
Earned
sur.—
sur.—
69,071
?
69,071
124,363
1,096,545
*
income
The
published in V.
153,
1134.
p.
.
.
t
•>'"
* '.f /
.
total
the
'
12 MOS. End. June 30—- 1941
Skies
-.-:.-*i:_$48.296,417
&
Costs
exps.
income
Net
*011
-
' 1
$,3,544,267
97,500
$40,220
'
53,724
-
$ 3,108,937
37,459,060?
$ 2,885,606
"t.563'
$ 2,887,169
' . ■ 056.949
" 194,202 " -284,330
,271,965
263,478
685,108
385,734
690,369 -
1938
•
$40,344 666'
.$ 3,055.213
48,908
taxes
'
$ 2,342.381 1 $ 1,957.662 :$ 1,732.412
$2.21:
$2.06->-.;■•••
$1.67
$1.44
shares common1 stock (par $1).—V. 153, p. 841.
$ 2,492 621-
profit
♦Earnings
■
$ 3,495.359
?
674.614
M41,538
inc.
.
38,126,662
amortiz.
&
Fed.
1939
$41,181,875
40,877,156
51,614
:
amortiz.-
&
Deprec.Int.
(
'
..
1940
$44,372,515
4.120,710
^
income
Total
,
4,069,096
Profit———_——$
Other
; :
44,227,321
1—-
per
990,253
share
cap. fund.
805,163—Int. conting,
lou,u«>)—Sink, fund
.
'
company
equities of the holders of general unsecured
The
and
priority
of
"
.
such
of
matured
of
present
the
July
on
Pacific
Canadian
July
1,
interest "to
to
the
1,
1938,
first
consolidated mortgage bonds
interest guaranty by the
bear an
as
Railway
1938.
Jan.. 1,
Holders of all first-consolidated bonds will receive
of their total claims, including accrued and unpaid
(not paid by the Canadian Pacific under its
1941
claims in new first-mortgage
25% in new general-mortgage
4% series-A income bonds,, and about 0.6 share of new no-par common
about
guaranty);
stock
each
for
of
total
their
1,
Sales
•Net
——
profit
•(•Earnings per
•After
A.!.
share
depreciation,
1940
•
$23,361 097
905.452
1,200.238
$0.99
$1.39
Federal income
taxes
1938
$22,799,577. $21,875.83L
938.945
907 849
*
$1.03
,. $0.99
and other charges.
tOn
1939
..
stock.
Note—No provision made for Federal excess
s; :
.
common
841.
profits tax.—V. 153, p.
'••• ;'-v ,/.:v
,7
i,
1938, and
each
of
$100
4%
50-year
gold
bonds,
1,
January
the
claims.
For
1941.
the remainder of their
share of new no-par common stock
Corp.—Transfer
Agent—
;
M.""
York has been appointed transfer aaent
for a newly created issue'of cumulative preferred s^ock, V 4 V% %■ series
of this corporation.—V. 153, p. 1280.
1 '
■
Guaranty Trust Col of New
Power & light, Co.
the
Co.
of current
excess
,
,
,
proceeds to be received from the sale of the bonds and from
11,912 shares of preferred stock will be applied as follows:
$2,811,200 to purchase for cancellation from Community Power
sale of
Light
Co.
a
.
like principal amount of first mortgage
their principal amount;
] V
gold bonds.
Dr at
and
A
$1,111,385 to pay indebtedness owing to Community Power &
(2)
Light Co. and to Southwestern E'octrls Co. (a whollv-owned subsidiary
of Community Power & Light Co.)
on open account and promissory
notes;
C
%;?'■"V"
;
$420 000 to redeem
(3).
stock,
•
at 105%, 4,000 shares of 7% preferred
($100 par i
proceeds
the
of
balance
The
will
be
by
used
the
for
company
property additions and improvements.
■.
'
,
the preferred and common stocks will be offered
to the public, the names of underwrites, and !h« un^erwrhing dis¬
counts or commissions, will be furnished by amendment to the regis¬
(0.5)
share
the
statement.
tration
'
prospectus states that to facilitate the offering it is intended
to stabilize the' prices of the preferred and common
stock*. This is
not an assurance, it states, that the prices will be stabilized or that
The
stabilizing, if
the
139
V.
p.
commenced, may not be discontinued at any time.-^
3960.
•
Net
from
Net
ry.
"
railway
oper.
jan.
$
242,493
railway
from
From
1940
1941
July—
Gross
income
.—
1939
234,977
$
1938
218,748
$
121,652
115,149
110,306'
54,0'42
86,333
102.940
131,236 ■"..
60,841
v.;.:?;
i—
144,018
;
f
first refunding mortgage series-A 6% bonds,
maturing July 1, 1946, none of which bears the Canadian Pacific
interest guaranty,- : would receive for each $i00 of their total claims,'
including- accrued .and unpaid interest as of Jan. 1. 1941 five-tenths
Holders of
present
of new no-par common
stock.
% '"V"
.
Gross
from
Net
from
Net
rv.
—V.
1,266,147
railway
oper.
—-——
:
income
1,249,665
945,133
813,191
519,120
railway
488,421
325,041
215,194
447,667
499,078
381,878
274,154
153, p. 401.
>'.
Holders of the present first refunding series-B 5V2% bonds, matur¬
July' 1, 1978, all- of which bear the Canadian Pacific interest
guaranty*, would "receive * cash payment from the Canadian Pacific of
their guaranteed
interest which matured between Jan. 1, 1938 and
Jan. 1, 1941;
For the remainder of their , total claims as of Jan. 1,
1941, they would receive for each
$103 of claim, five-tenths (0.5)
share of new no-par common stock.
;
ing
.
Co.—Earnings-"
Mountain States Telephone & Telegraph
'
:
Operating
revenues
Uncollectible
oper.
1941—7 Mos.—194
1941—Month—1940
_„$2,518,068 $2,274,253
rev.___
6,006 '
5,702
$16,842,851
$2,268,551
$16,789,751
Period End. July 31—
53,100
$15,403,883
50,637
,
.
Deposit
>
agreements
are,
provided -for holders
of
their
claims
the
against the
of their
bonds not paid by the Canadian.
its payments as guarantor of the specified
first-consolidated mortgage, second-mortgage,
share
of
of
new
the
no-par
new
common
common
stock.
placed in a. voting trust, .two of the
would be
voting trustees to be designated
of the debtor's bonds (other than the
by the Canadian Pacific.
All of the
new stock except that receivable by the Canadian Pacific as a creditor,
in the reorganization would be subject to an option by the Canadian
by renresentatives of holders,
Canadian Pacific), and:,three
Muskegon
__$
income
Piston
stock
$
338,367
—
773,943
$15,*\T,246
10,317,910
10,931,907
$
5,857,844
$
5,0-5,336
340,346
*2,802,6*9
2,"6?,20l
433,597
$ 3,055.205
$ 2,672,132
343,786
2,302,143
2,069.597
have been accrued at rate of 30% of taxable in¬
Ring
Directors have declared
mon
stock issued in the reorganization
operating
income
; * Federal inc. taxes
come.—V. 153, p. 696.
$
451,000
Operating
Net
1,494,608
853,453
402,453
-*$
Net
interest coupons on
and first refunding
mortgage bonds, as above stated, the Canadian Pacific would receive
for each $100 of interest so paid on the guaranteed first consolidated
bonds, one share of new no-par common stock; for each $100 of
interest so paid on the second-mortgage bonds, nine-tenths (0.9) share
of new no-par common stock;
and for each $100 of interest so paid
on
the fl-st refunding mortgage bonds, forty-five hundredths (0.45)
the
1,658,609
such holders
Canadian Pacific for the guaranteed interest
dat$ of maturity
as aforesaid.
.-$2,512,062
present seconda Canadian-
mortgage and first refunding mortgage- bonds, which bear
Pacific interest guaranty/for the purpose of reserving to
All
Masonite
> ;
Arkansas
of
properties
1949,
For
July 31—
1941
*..—$25,572 870
to
are
Montour R.R.—Earnings—
claims.
second-mortgage
present
all of which bear an interest guaranty by the
Canadian, pacific,, would, receive payment by the. Canadian Pacific-in
cash of the guaranteed interest falling due on their bonds
between
to
12 Mos. End.
stock,
bonds,-, about
of
$100
the
their
of
10%
4%%. income
Holders
Pacific,
McLellan Stores Co.—Earnings—
& Co. at 104V4% and will
Society of the United States'
Read
The price at which
Holders
-
Dillon,
,
Co.
ities
claims not entitled
and common stocks are found
is made for their participation in
preferred
the
value and no provision
no
to
Uti'ities Co., a wholly-owned subsid¬
It will pay in cash to Arkan¬
assets over current' linbi'i<ies
applicable to the properties, which amounted to $31,450 as of May
31, 1941, and will assume certain current liabilities of Arkansas Util¬
Series
ganization expenses
treasury bonds are
.
14,000 shares
125,000 shares of
and
will issue 2,088 shares of 5% preferred stock, ($100 par) to Com¬
Power & Light Co. in consiHeration for the Paragould-Mar-
$10,000,000,
of
sold
be
par)
.
together with the 125,000 shares of common
Community Power & Light Co.
bv
(1)
$86,741,830/$1,859,223
-
to
($100
stock,
preferred
($1 par). ■:
of Community
the
and used to reiemburse the company for reor¬
and for proper corporate purposes.
Until these
issued the annual interest requirement will be
$87,677 less than, the interest shown.
:
reorganized
January
j6
>
176,807
first mortgage bonds, Series A, due 1971,
nre
Utilities
sas
principal amount, of first mortgage,
series-A incorfie bonds, $1,948,369 are to be held in the treasury of the
•Of
for
Stores Corp.—Earnings—
$
Of the preferred stock being registered, 11,912 shares are
offered for the ae-ount of the company while the remnlning 2,-
shares,
iary
-
total claims they would receive one
McCrory
bonds
sold
&
■
Total —— 2,815,235 $2,289,410
months ended June 30, 1941 was,
2,815,235 2,289,410
account for the 12
253,062
57,102
Girardeau, M*\—Roisters
Cape
be
53,948,925
maturing Jan.
Total
$
104%%,
The
capitalisation
Total
and
479,262
106,941,
1,096,545
429,869
253,062
13,409
$
resold to The Equitable life Assurance
par),
(no
a-share
.
.
-
shares,- stated .at $75.';-"
719,319
>-
■in cash about ;3.3%
8,824
,
$
munity
"450,000—Int. conting.
250,000—Mandatory
'
'
series-A
Capital
debs.
Deferred
20,129,076
■:
-•
37,260
Common stock
29,753
39,232
542,897
310,164
filed with the SEC a reo-icfv,+ion ftp tenant1
under the Securities Act of 1933, covering $3.-
29
Aug.
stock,
maduke
*10,000,000
33.998
V
The
panv
53,415—Fixed Int.
■
would receive payment in cash by the
Canadian Pacific. Railway of unpaid interest which accrued on Jan. 1
6,735
Total
V' ':
354
-
sup._.
Annual
Requirements
Geri.-mtge., series-A 4% income
bonds
?
which
72.978
$
to the registration statement, Missouri Utilities Co. pro¬
poses to reclassify its presently outstanding 30,700 shares of common
stock (no par) all of which is held by Community Power & Lip-fit Co.,
into 125.000 shares of common stock ($1 par).
In edition, the roni-
recommended as follows;
$
$ 2,663,829
bonds
come
Co.,
Form A-2)
cumulative
5%
be
69,000
40.063
Utilities
2-4826.
088
48,040
cred,
6,269
-
to
46,771
items—
972,767
497,925
21,088
at
38,000
Deferred
21,008
i
be
note
(ref.)
Acer,
400
Accts.
291,667
$
808,089
:%'■ According
1941. ■
I,
.
.
deposits
Cpns.
23,549
$
Bonds, Preferred and Common Stock With SEC—
Company on
;
pay.™
col.
Accts.
assets
other
Ser.
2 286,969 1.976,748
&
1941—12 Mos.—1940
1135"
p.
Common
on
.
323,045
722,000
25
133,898
$
153,
(No.
plan.
Plant, property
&
1940
■
interest
Equipment obligations __I—™
lst-mtge.,
serie$-A : 4%% In-
have
$
;•
Investments
1941
Liabilities—
unpaid
Issue
to
1940
and
capitalization and annual charges are
■
<\
'
"
■Amount
New
-1'
1941
Assets—
*
Electric^Co.,
&
1938-
190.078
.
deprec..
150.000 of 3Vz%
reorganization of the road has been proposed by
Jewell,
Under the plan recommended capitaliza¬
be reduced from $169,202,628 (with, additionally, $28,459,266
The-effective'date of. the plan is January
„
company
Ice
29,
$3,739,550
pfd. stock
,
•;
Sheet June 30—
June
on
and en initio) dividend
1936.—V. 152, p. 3816. o" '
$275,212
deductions
Ralph H.
accrued
the management believes the debt Incurred
be liquidated in a number of ways and that the
(&, Sub.)-f-Balahce
:!j
• ♦
fixed-interest bearing debt as of
Jan.
1, 1941)
to about $87,000,000;
and the annual fixed interest
charges will be reduced from $6,631,322 to approximately $53,415, all
on equipment obligations
which will be assumed undistributed by the'
reorganized company, -
with substantial orders for engine and other mechan->f
ical part after the present emergency is over.
The facilities of both
companies are presently being extended to their fullest capacity on
armament work and this transaction will in no way change or inter¬
rupt existing schedules of production."—V. 153, p.: 1134. - •
■
will
tion
of
•
$1
1937,
18,
-$348,362
income,
on
7;
of
that
Inc.
1939;
15,
Dec.
_$
for
Missouri
phvn-for-the
Examiner
already has received several offers to convert the debt to a
long term basis if it so desires.*.;?
••■'•.
In explaining the reason for the transaction, Mr. Simon, pointing out
that Liberty has" more than doubled
its capacity in the last year;
stated that Liberty's management anticipates,
following the present
emergency, a substantial let-down in the airplane industry with a con¬
sequent slowing up of demand by that industry for Liberty's products
and facilities,
and that this slack can be largely taken up by the
manufacture of machine parts for products other than airplanes.
"A close working connection with The Autocar Co.," Mr. Simon said,"is regarded as a sound step in this direction, providing as it does
a c'.ose affiliation with an old established business
which can furnish
Louisiana
ganizatiort" Plan Submitted- j3y - ICC Examiner-^
■rijA
company
your
29,
June
,
t
Minneapolis, St. Paul & Saulte Ste. Marie Ry. •—-Reor-
private investment 21,097
Simon
the
and
replies
,
1941—Month—1940
31—
income
—V.
'
respect to the Autocar transaction, Mr. Simon stated that in
reduce its commitment, Liberty arranged to have others pur¬
interest.
stated
27c
Mr.
in
account
;
shares, leaving 100.000 shares for
Liberty at $15 per share in the form of an option which the executive ;
officers have been authorized by directors to exercise.
As part of the
purchase price, Liberty will execute a note for $1,000,000 for one yea?
at
1941;
Corp.—Accumulated Dividend—
Oil
,
:
for
chase
1,
11, 1941.;
argument October 28.—V. 153, p. 842.
"'/•:■,'y
■■;
on
.
Interest
$420,851
preference stock, no par value,
payable Sept. 15 to holders of record Sept. 10.
Same amount was
paid in each of the seven preceding quarters and on June 20, 1938.—
V. 152, p. 3816.
<
'
-
Gilbert
directors,
served by Oct.
on
paid
share
1
Gross
Directors have declared a dividend of 25 cents per share on-
.
C. Greenway, III, both employees of
Grumman Aircraft Engineering Corp.-* These, two
directors, together
with Grumman Aircraft Engineering Corp. and John W. Gillies, Jr.^
also connected with Grumman, have requested that the stockholders
meeting also consider the removal of any or all of the corporation's
and
:■
164,865
Co.
Kahn
W.
Oct.
on
Of accumulations on the $2 cum." conv,
meeting Sept. 12, stockholders will be asked to approve
made to purchase 121,097 shares of common shares of '
"vv"- J
v-j-y't
a
letter to stockholders, Robert Simon,president, explained-that?
directors voted against the Autocar transactions/
These were
Roger
general unsecured
provision is made in
as
no
of. records
cents on June
1937;
24,
per
expenses
Provision
$596,105 " $585,716
Div.
arrangements
two
terms
'
special
a
returned
the
par
revenue
faxes
Net
Aircraft Products Corp.—Stockholders
The Autocar
treated
which
Vv"/
Balance;
-"Sept. 12 on
have
with
a
dividend of 60 cents per share on the
value, pavable Oct; 16 to holde-* of record
This compares with 25 cents paids on Dec. 20. 19*0; 40 cents
Operating
8. Dividends of
151, p. 2048.
Midland
Liberty
be
for
"
'
•
would
accordance
declared
have
stock,
J Period. End.. July
45,586
-
>
in
Corp.—60-Cent Dividend—
on
45
Gross
30,196
1
„
for.
153,
—V.
2.994
notes^-i. *2,620'
.
Other -deductions
Dividend-
Directors have declared a dividend of $2 per
■serial
-on
notes
remaining
any
Mississippi Power Co. -Earnings—
329,000
.
13,460
Int
certificates
stock
■'''I--
■
Dec..15.
cents
~
Net
obligations,
122.334
312,023
10,220
secured
outstanding
now
their
stock
is assigned for oral
case
v
Directors
of
24,533
..
line
Central
exceptions may be filed and
on
221,734
$58,004
* res.
to
.
to
as
so
Sept. 18.
1,428,893
19,618
retirem't
now
Exceptions to the proposed, report must be filed in Washington
-
$3,246,662
29,834
-
-
Mission
1,595,880
264,566
20,745
36.765
J
Maintenance
*
other
securing
debtor, would
the
not-entitled
.
•
23,304
leased
Wisconsin
plan.'
served
$3,225,527
21,134
$3,633,934
146,215';?: 120,008
total
debtor being treated as unsecured general claims
priority, for which no provision is made in the plan.
against
Claims,
profit
excess;
T.' taxes. ;■: i
.
27,618
*
1—'
•*< rr
the
found to be fully secured and would
are
debtor's
the
collateral
the
the
holders
1941—12 Mos—1940
$265,314
$313,742
reve|iue£i*u--i-;
taxes
of
the
to
of
common
Operation.' U~-__-i—1—■
25%
Credit Corporation,
-
$3,606,316
$263,507
1,807
$311,990 -'
revenues-—.
.;
stock,
them
to
Ended July - 31— ?■ 1941—Month—1940
oper.
of
the
against
This
•
Railroad
the
preferred stock exchange agreement under which the Wisconsin
Central stock was deposited and which has been or will be disaffirmed
by the debtor's trustees. Any remaining claims,, by the certificate
3092.
-
to
of the
1281.
-
Lehigh & Wilkes-Barre Corp.—$2
holders
receive
Holders
m-;/?,?./.::;'?'V '/!
Marion-Reserve Power Co.—Earnings—
notes
cash,
The collateral securing the notes would be sur¬
to the reorganization managers for pledge under the mort¬
entitled
not
is associated with others in two Government
considerable volume on a "cost-plusOri one of these'contracts the company is renting
151,
The
claims
contracts of
projects.—V.
a
of the reorganized company.
gages
would
dredges >"Texas7 .and"Alabama".
It has made arrange¬
to obtain the necessary funds to finance the conduct of these
defense
Dec. 31, 1950, to purchase
price of $2 a share.
to
at
secured
55
r?l
in
rendered
clamshell
its
shares
debtor's
paid
-
company
construction
a-flxed
& Light has
Power
addition
In
defense
continuing
such
The
held by the Canadian Pacific,
':.y;
from $36,000,000.
agreed to let the sale price of its electric?
properties go toward the discharge of obligations of Laclede Gas and
for such
sale price to take $7,000,000 preferred stock and 130,000
shares of common stock of the new gas company. •
' • :*"
Under the plan, each holder of one share of preferred stock of La¬
clede Gas will receive five shares of common stock of the new com¬
pany; and each holder of one share of common will receive 2Va shares
"of ■ new common,-."' :>v;:..
'^yV\o.v •' :1. "
O' '•■'■•V-''
The capitalization of the reorganized- company will consist of $23,000.000
first
mortgage V/z'Zo- bonds;
$7,000,000 -5% con¬
20-year
vertible ($100 par) preferred and 514,150 shares of (no par) common.
The preferred stock after one year will be convertible into common
stock at the rate of five shares of common for one share of preferred
for the first three years and thereafter at the rate of four shares- of
common for one share of preferred.
> •
K
' * ; - >
Laclede
of
'•
position of the company is announced by
President, in letter to stockholders:
>,
>''/"*
$2,350,000 at the end*of-1937.
instead of cash.
The
reorganized company, according to the plan, will issue $23,-.
000,000 3Va% 20-year bonds which together with the net cash to be
received for the electric properties will be used to pay off the presently
outstanding bonis and provide some working capital.
The debt is to
be reduced to $23,000,000
Pacific,
,
approximately $800,000 .has been sublet to responsible subcontractors
at a fair profit, -as compared
with $1,627,000 as of Dec. 31, 1940,
$730,000 as of Dec. 31,
1939, $1,635,000 at the end of 1938 and
stock of the new company
such notes receive common
;
/
.
the
of
summary
McWilliams,
A.
$3,800,000
Net
profits for the six months ended June 30, 1941 amounted to
$103,000 as compared with a loss of $147,000 for the same period of
1940.
The balance sheet of the company at June 30 shows current
assets of $1,957)928 and current liabilities of $834,685, leaving a net
working capital of $1,123,042.This*1-compares with net working
capital of $955,311 at Dec. 31, 1940 and $983,130 as of June 30, 1940:
; At. the present time work under contract, excluding "cost-plus-afixed-fee"
projects, amounts to approximately $3,800,000, of which
Commission
4.
brief
"A
G.
and the Missouri- Public
"
'■
The Laclede Gas Light Co., Laclede Power & Light Co., and the
Ogden Corp. (formerly Utilities Power & Light Corp.)
which con¬
trols the two operating companies, are proponents of the"f>lanv;-*v-?}>:','('.
The electric properties would be sold to Union Electric Co., a subsid-:?
iary of North American Co., and certain gas properties in the St. Louis
area
owned by the latter would be acquired by the reorganized gas
company,.
'■
■'
y,
"
Under
the
plan, i present i"outstanding .-$1.0,000,0(30: 5%, refunding
bonds and $23,000,000 first mortgage 5Vn% bonds of Laclede Gas will
be paid off in cash.
Provision also is made for cash payment of $3,t
000,000
collateral trust 6%
notes but the plan points out that a
change in the proposal with respect to integration might require that
and
Securities
the
-Service
Contracts
ent
-
plan of reorganization of the company effecting a simplification
of its capital structure, providing a method for integration of the gas
and electric properties in the St. Louis area and for ultimata local
A
((■.'♦•:
Month's Report—Pres/
McWilliams-Dredging Co.—Six
Co.—Integration Plan Filed—
Light
Gas
Laclede
FINANCIAL CHRONICLE
Number 3977
Volume 154
payable Sept.
a
Co.—49-Cent Dividend—
dividend of 40 cents per share
30 to holders of record Sept.
11.
on
the com¬
This com¬
with 25 cents paid in the two preceding quarters; 40 cents paid
Dec. 14,
1940; 25 cents on Sept. 30 and June 29. 1940; 35 cents
March 30. 1940; 50 cents on Dec. 21 and on Sept. 30. 1939; 35
pares
on
on
cents
1938;
152,
p-dd on June'30 and March 31, 1939; 15 cents paid on nec. 27*
50 cents on Dec. 15, 1938, and 25 cents on March 31,' 1938.—V.
p.
3352.
56
FINANCIAL CHRONICLE
(Conde)
Nast
Publications, Inc. — Mortgage Bonds
Placed Privately—The stockholders on
Aug. 29 1941 apjproved the issuance to the Equitable Life Assurance
Society of the U. S. of $600,000 10-year 4% serial mtge,
(5.)
;<0.)
enter
995.
and Stroud &
Whether
it is neeessary to impose any term or condition, or
order, to insure that voting power shall be fairly and equit¬
distributed among the security holders of Houston.
Bond
\
:
New York, Chicago & St. Louis
R.R.—Equipment Trusts
Offered—Solomon Bros. & Hutzler, Dick & Merle-Smith
r
for
and
Share
,
Co.
Whether
it is necessary to impose any term or condition re¬
the disposition of any earned surplus credit resulting from
the proposed transaction.
'
(9.)
Whether it is necessary and appropriate to impose
any other,
terms and conditions for the protection of the
public interest or the
Co.,
stricting
National
Oil
Directors
tii
the
Like
Products
have
amount
declared
stock,
paid
Co.—Interim
interim
an
Dividend—
dividend
payable Sept.' 30
of
35
cents
of
holders
to
record
share
per
Sept.
interests
cents
31,
50
National
Mos.
6
Net
National" Power
&
IVbve
Light
Co.—Breakup
to
Simplify E.B.S.
Voting Powers— ■
Ordered—SEC
Capital
''"..A prompt dissolution
ing
of
the
National
Power
&
Light Co.,
company oi trie E.ectric Bond & Share Co.,
t.,e Securities and Exchange Commission.
The
tifered
to
among stockholders.
plans for the dissolution
submit
Co.
'•
Both
of
companies
National
were
Power
&
Lignt,
30—
Total
Cred.
2
l*-
deprec,
&
v
4,853,105
4,815,069
&
state
7,448,554
38,036
$
7.—,-————$
$
437,628
"
stuck
*$
$ ;
of
prior
loss
under
ween
"If
the
15
by the SEC
the
on
27,865
152, p. 4131.
*$
p.
stantially .all
in
the
will be
held
month.—V.
The
107,299
Corp.—Meeting Date Changed—
1941
the
on
the
the
for.some
first
of
in
the
Total
time.
case
mined
debt.
-
.
.
.
..
|
'The
principal
Will
remain
tric
Co.,
Co.,
Memphis
rte
if
subsidiaries
tne
Houston
Caiolina
otner
of
for
common
Lignt
Generating Co.
smaller
and
subsidiaries.
Power
& Light
Co. which
are Birmingham Elec¬
Pennsylvania Power & Light
Lehigh
The
Vahey
directors
Transit
officers
and
Co.
of
The
order
the
SEC
ends
requiring
of
National
dissolution
Commission
May
on
1940
9,
issued
its
Hearings having been held
the
on
above
of
the
notice
of
&
p.ccecd
men
matters;
-
Counsel
Share Co.'s
to enter
and
its
interest
findings, opinion
hf..;
_
and
that the
and order
1
;•
continued
hoceo^ary
if
existence
of
to
tnat
ensure
respondent
the
National
Lo.ding+company system of Electric Bond
It
is
ordered
cismiss
the
the
that
filed
motion
Commission's
respect
to
Cn.poiaie
Power
&
notice
of
,
At
counsel
ordered
pursuant
and
Co.
ordered
Slectric
Bond
and
TVrther
steps
as
that
Share
Co.
said
National
shall
proceed
&
Power
Light
Co.
'<6tder.
be
necessary
:
.
Hearing
appropriate
or
to
,/-v
that
shares
of
Houston
stock
common
Gas
bonds
of
National
when
the
ers
Co.
of
cents
25
of
Gas:
tion
and
the
of
the
on
com¬
10,
3352.
Extra
holders
of
no
less
than
50%
of
Upon the termination of the proposed exchange plan, it holds as much
5% of the Houston common stock, it expects and intends to take
fts
be 'required, pursuant to the approval of the
securities and Exchange Commission, to cease to be either a
holding !
tympany with respect to, or an affiliate of, Houston.
Particular
and
of Bonds
will
be
directed
at
the
questions:
(1.)
Whether
to
-<
Whether
the
M-oblem
as
to
transaction,
tion is fair
prospective
the fairness of
and
whether
and
equitable
dissolution
the terms and
in
all
other
all
to
the
the following
of
National
to
is
Gas
act
the
of
Whether the proposed
presents
conditions of
of
the
any
the
proposedproposed transac¬
security
•
holders
affected
...
transaction is
(1),
in
12
conformance
(c),
12
(d)
with
and
12
the
(e)
Act.
Whether the terms of the so-called
"profit sharing agreement"
between Houston Lighting & Power Co. and the City of Houston. Texas,"
the
and status of negotiations, proceedings or disputes with
Reference thereto, present any question as to the fairness of the terms
and conditions of the proposed transaction or require that any term
©r
history
condition
closures
to
be
be
imposed,
made
in
or
any
order
connection
with
27
allowed
only
$1,-
connection
in
into
with
the
Oct.
23,
bankruptcy
on
exempted
the
10
debt
and
•
-
it
is
particularly
Rule
such
any
&
Trust
(E)
owned, the
following
the
at
prior
including
time
k-
•
Cities
such
interest
and
-
its
Gas
utility
should not
rules.
Service
in
of
of the utility act.—V.
it
Gross
entered,
with
solicitations
railway
railway
Net
from
Net
—$
as
ry,
Co.
registered
the
to
financ¬
determine
0
respect
under
to
the
dis¬
plan.
an
75,283
..
•V.
$
.
143,186
e ^2,767
$
152,461
•
1,596
18,355
10,390
1,453,696
.,480,684
v
1,632,510
1,457,533 '
p.
624,452
429,305
493,377
445,048
514,775
:
499,846
,
697.
I
and
Exchange
application
Commission
(File ,70-390)
Insurance
Co.
The
announced
under
at the
due
proceeds
principal
1961,
from
Aug.
28
that
the Holding Company
to
the
stnount,
The
Laid
"
'
Corp.
Acquisition,
—
..''77 7-7
v,.7',777.-7
153,
1283.
p.
h
balance
with
'property additions,
the
*;
-
,
7
$126,372,508
441.460
490,0j2
$
8j,LI9,523
81,799,160
$ 5,905,240
_„$ 6,537,967
$132,0^7.209
$17,824,052
11,918,812
12,557,743
__
■
1941—7 Mos.—1940
$ 43,976.281
$ 44,583,316
132.382,-809'-' $120,382,476
*24,767,030
22,674,236
$ 21 909 080
2,282,202
2,2^4,966
1941
have been accrued at tax
both inc. and excess
1
1941
is
appear
ceriam, taxes
and net oper.
will
higher
than
it
untimately
now
ef-,
in
taxes
for
understated
844.
p.
20,400,988
rates
profits
probability
reported
153,
in
t
effect-
perioua
inc.
for
in
these
to
prove
have
'
have
declared
payable
Sept.
a
dividend
15
-
s,
of
70 cents
...
share
per
share
per
record
..
were
the
on
Septl' 5,
wa° Paid
com-
Dividend
March
on
15, last,
distributed during 1940.—
'
.;
.
$1.25
holders
to
°7 ,June 14,
►.
of
North
•;*
.....
Aviation, Inc.- -Arranges Purchase
of
$3,0.00,000 Treasury Notes—
'
,
1
American
The
company has arranged to purchase U.
B-1943 in the amount of
series
oration
is
at
the
same
in
advance
time
government.—V.
North
S.
$3,000,000.
providing
making
153,
American
to
p.
meet
the
funds
Trust.
treasury notes of
this way the
1941
tax
corp-i
Federal
Immediately
698.
Bond
In
its
tax
obliga¬
available
to
"vauaiae
10
Certificates-Dividend—
have declared a dividend
of $16 per share
on certificates
interest payable Sept. 15 to
holders of record
Aug. 29
Tnis cam
pares with $44.30 pa.d on March
i5, last; *3(.80 paid bh
15
1940; $31.30 on March 15,
1940; $25 on Sept 15, 1939- $45 on
I
15, 1939; $18.60 on Sept. 15,
1938, and a dividend of $19.30
per share
paid on March 15, 1938.—V.
152, p. 1600:
bnare
of
Sot
Mai
American
SEC
Co.—SEC Approves Dividend
on
Sept. 3 approved the
company's application
distribution on or about Oct.
1, in payment
its common
stock, of not more than
reeardinir
proposed
011
capital
stock
of
Detroit
Edison
153.000
Co.—V.
153,
1284.
p.
o
1
*
shares
of
the
*
"
Northern PaciHc Hy.—Loses
Claim to
2,900,000 Acres
U. b. Suit Is Settled—
John
sale
Hancock
will
be
of
trustee
the
to
proceeds,
be
estimated
withdrawn
on
the
"
-
at
$67,980,
basis
'
.
of
The
famous
as
of the United States
against the Northern Pariffe
which has involved
litigation and Congressional
CM! War days, has been
settled
of
handed -down in the Federal
Court for the Eastern
District of Vvakiington, Attorney General Francis
Biddle announced
Aug. 29.
case
Pacific,
r, since
Ss
Involving
the
in
determination
1864
the claim of the
QftTnnn
#
and
road
to
of
1870,
rights
the
2,900,000
agreed to cbnvey to
III *00 triSl
to
two
of
used
wiU
future
The
should
and
controversy
have
claimed
beds,
wniQh
developed
received
tne
the
when
land be denied
approximatllv
the United States
gove/hmS;
t0 pay-
disPute amounted
the
company
approximately 3,700,000
light
to
select
government
2,900,000
had
purposes, to, apply against the total
its
of
for
to
to
the
40,-^
nearly
maintained
that
it
of
additional lands
in indemnity
forest and
land
othe?
alleged claim
y Resident Qoolidge called the controversy
gress,
^whh the ,res fit that cn June 5, 1924,
resolution
pany and,
acres
acres
withdrawn
of
I d££ee
m&nta*maHo
land
government
* at $I'?00'000 and
000^5oOtdcr-e?ra"tS figUring ln the
ihvestteliun
™.s™°tled on"ffbSU
Stse
acres
of
to redeem on Dec. 1, 1941 at
104%, $228,000 5% first mort¬
30-year bonds, Series A; -to pay short-tefm bank loans
aggregat¬
ing $35,000; to pay open
account-indebtedness'amounting to $50,000
to
Pennsylvania Gas & Electric Corp. the parent; and to
pay
ex¬
pense., estimated at $8,000,
in connection with the issuance of the
bonds.
Gas
146,453
10,997
5,599
,*.>-•
1938
follows:
deposited
be
can
v'
$*24,209,201
22,.67,338
152, p. 3821,
dend
1939
.
gage
new
' '
3,304,640
.,".W.a7
the
Ry.—Earnings—
regarding the proposed private sale,
$400,000 of 3V4 % first mortgage bonds,
be
payment
*'
-
Directors
.
Act
Mutual Life
-
$17,900,298
76,246
65,323
dividends totaling $2.75
tions
105.
7 74
592,854-%.- 456,686
153,
Securities
Called—
$ 2,600,594
ail
stoc.w,
"vv:
Newport Gas Light Co,—Seeks Private Sale of
$400,000
Bonds^-/ :
t ■%
-.'V /
\
The
28,
final
AT'*'
-
...
income.;
company filed
Immediate
&
7^„$19,095,710
taxes for
Directors
transporta¬
subordinated under
p.
1940
68,313
7,
railway-
oper.
that
"
North
222,456
:
railway
• Deficit.—V.
:
Feb.
on
in
income ^*$3,056,986
in
are
mon
existing
*7
oper.. ittcome
from
Co.—Bunds
Niles-Bement-Pond Co.—$1.25 Dividend—
7
the
seeks
be
153,
■
1941
from
1—
C.
—$19,161,033
heavy increases
re^roactively to Jan.
periods
Ser¬
Association—System Out¬
'v
Jan.
Connecticut
1941—Month—1940
as
and
undertake
Also
by Cities Service should
1
from
for
1203!'
Electric
income.
1941
hold¬
!
:
•
■
interested
or
New Orleans Texas & Mexico
ry.
Y.
p.
rev.
rev
Federal
feet
The
From
per¬
latef
Telephone Co.—Earnings— v>v
rev.
oper.
collateral
Cities
that
''-.vVv.-7
Natural
ago.—V. 153, p. 1283.
Net
Gas
1:777.'77v-
;
expenses
oper.
Net
Net
outstanding bonds,
rights as to principal
bonds,
principal
engaged
issues of
,
Net
Court
unimportant modifications
Operating taxes 7.-_2„_ ♦3,480,981
$1,714,000 of debentures
August 29, New England Gas and Electric Asso¬
reports electric output of 10,595,837 KWH.
This is an increase
of 1,874,923 KWH, or 21.50% above
production of 8,720,914 KWH for
the corresponding week a yeer ago.
^
t
Gas output is reported at 86,728
MCF, an increase of 4,654 MCF, or
5.67% above production of 82,074 MCF in the corresponding week a
Gross
N.
153,
State
■
Operating
secur¬
ended
July—
Co.
option.—V.
revenues
Operating
exemp¬
ciation
year
the
consideration
approved plan for reorganization of the
District
some
Richmond
Uncollectible oper.
U-
the- transactions contemplated by such pre
may be within the exemptions provided in Rule
under the public utility, holding company act
put—
week
for
amount
to
7-71"..
'\"7" "■ 7',' " vv:' V
Period End. July 31—
Net
contemplated
mortgage lien.
New England Gas & Electric
the
allowable
prejudice
$114,000.—V.
the
For
without
an
Federal
1283.
&
York
Operating
.
$30,000,000
outstanding
was
under
held
7
maximum
and
held
commission
whether
as
-
(4.)
Aug.
on
services
went
its presently
indebtedness
of
the
and
gas,
the
1940,
made
p.
York
been.—V.
new
holders
substantially
natural
until
act,
effectuate
7
hhp icable provisions of Sections 9 (a)
Of
necessary
respects
classes
thereby.
(3.)
for
which
outstanding series A first refunding mortgage gold bonds
May 1,-. 1951 have been called for redemption on Nov. 1 at
accrued interest.-. Payment will be made at the
Central Han¬
Bank
New
stock.
sell
such
holders
subordinate
sections
■
the
(2.)
hearing to
"
proposed transaction is
%he provisions of Section 11 (b) of the Act.
,
Commission.
York State Electric & Gas
Corp. will acquire the property for
and the assumption of the
6% first mortgage gold bonds, due
1944,
Co. which, as of
July 31, 1941. were outstanding
the principal amount of
in
following securities: $40,6% debentures, due 1946, and
- !v
< [
.1
Co.
U-3D-15, promulgated
1925," the SEC says.
may
attention
7;.
Tracy'Development
par).-
of
.
5
of
and
cost
New
,7';.7
25-the
(no
Service
Cities
than
give
all
of Julv
common
posed financing are or.
The
the
V:-" "•
$6,000,000 of
stock
requested to—and
will—subordinate payment of
under
for
$6 pre.erred stock shall have accepted such plan.
National states,
the transaction is a step in the liquidation of National in con¬
formity with Section 11 of the Act. National further states that, if,
Shatters
90%
locomotives
Lima, Ohio, to
The application (File
70-383) filed with the Securities and
Exchange
Commission under the Holding
Company Act regarding the proposed
sale by Tracy
Development Co. of all of its p.ope.ty to New York
State Electric & Gas
Corp., an associate company -has been approved
by the SEC.
Both companies are subsidiaries oi NY
PA NJ Utilities
Co.
'T"■* ."V-"'.'
■' ■:
(■
share in
per
cents
50
p.
$11,443,000 of the bonds,
others
to
order
"Natural
fc&id
action
Commission
certified
the
25
153,
holders
New
holders
to
record Sept.
of America—Sale
under
have been
bonds
that
Whatever
least
at
freight
Inc.,
:■
as
bonds,
comon
proposes
to
interest
ing
available
are
1
Dividend—
dividend
1, last.—V. 152,
adopted
outstanding
shares of
and
'77/-V";V.\
the purposes of such exchange.
National proposes that the plan of
exchange shall become operative when holders of no less than 75%.
outstanding shares of $6 preferred stock shall have accepted
giich plan, or may be declared operative at the discretion of the board
directors
defray
15
the maximum amounts deemed
allowable;
to $1,107,299.
The Commission thus deter¬
be
31,
W .the
'»t
of
per
provided bv any rule or regulation promulgated
and particularly Rule U-3D-15, should be withdrawn.
Pipe Line Co. of America, a subsidiary of Cities Ser¬
Natural
in
vice,
to exchange the
iUOmmon stocc ox the Houston Lighting & Power Co., a subsidiary of Na¬
tional, for such $6 preferred stock on the following basis: 1.875 shares
"tof Houston common for each one share of National $6 preferred stock,
extent
&
price
the
and
at
share
all back divid¬
up
SEC^ w'll determine whether
the
6 % gold
shares of
Natural
trteierred stccs: (279,716 shares presently outstanding)
the
had
and
this
A hearing will be held before the SEC Sept. 15 on the declaration
*61 application (or both) pursuant to the Public Utility Holding Com¬
pany Act of 1935 concerning the following:
National Power fc Lignt Co., a registered holding company, a sub¬
sidiary of Electric Bond and Share Co., also a registered holding
fcbmpany, proposes to make an offer to the holders of National's $6
tb
cents
30
transaction
act,
Gas
428,429
trust
'■
-
Exchange of Houston Stock—
on
of
and
and
effectuate
the
Co,
ities
diligence to sub¬
mit to this Commission a plan or plans for the prompt dissolution of
Rational pursuant to Section 11(b)(2) of the Act and shall take such
may
regulations
According to the SFC
due
with
of
cents
paid on Oct.
dividend
"I:
the
1,500,000
.
further
is
paid on July
000,000 of
11(b)(2)
of the Public
fctidty Holding Company Act of 1935 that the existence of said
National Power & Light Co. shall be terminated and that said com¬
pany be dissolved; and
,,7 ;.sr
: •
7'7. 77'77':
.".It
of
vice
shall
or
Section
to
be
payable Sept. 25 to holders of
hearing
Natural
7:/7,
further
is
60
to
etc.—
extra
an
ouarterly
.
under
for respondents to
hearing dated May
for
will
of
over
dividend
dividendof
to
Dec.
March
due
105
.
thus paying
Co.—Extra
declared
regular
was
or
the
tion
•
order
6%
3817.
p.
Gas Pine Line
rule
any
unfairly or
holders, of the
Share Co.;
7. ' /
and
by
and
s&f.i-cture
.
Light
cents
3D-15.
¥>, 1940 and supp.emencary order dated June 7, 1940, and to dismiss
the within proceeding, be, and the same hereby is, denied with respect
Jto National Power & Light Co. and the interest of Electric Bond and
fehare Co. in s-.ch company; and
*
.7
It
to
Works,
subsequent services.
York
All
484,877
proposed sale of $20,000,000 of collateral trust bonds by the
Company was stopped Aug. 26 .by the Securities and. Exchange Com¬
mission, which held that the company must obtain the Commission's
permission before it proceeds with the financing.
At the
same-time, the SEC ordered a public hearing for Sept.- 5
at its Washington offices to determine- whether the proposed finance
ing is within any exemptions provided-by the Public Utility Act, or
.:?v- / -1'
Lot und-ily-or crmecessarny complicate the
structure,
J lequi-ably distribute voting power among the security
fOn
The
for. the
.en
tLoss.
1941.
r
stock,
dividends
152,
Halted by SEC—
having examined the record herein with respect to the
aforesaid matters and having this day made and filed its
lindings and
'f pinion therein, finding inter alia that the action hereinafter
directed
ta
50
the
both
Natural
Commission
he
used
follows:
claims
road,
fixed
Commission
Haven
on
New
Nil
and
$1
Commission
with
Both
t697,432
taxes,
of
respondents having waived any right to a trial ex¬
aminer's report or to suomit p.opoMed bindings of facts, oral
argument
t)T briefs with respect to the, aforesaid
matters; and
•••/ ■
to
the
$17 850.956
t255,837
:
Nil
income
'
semi-annual
cumulative
a
$17 099 243
and
matter, and counsel for the
therein,
have
to
stock
mon
respondents and lor the Public Utilities DivLion ox the Commission
stipulated that the record may be c.osed with respect to ret-ponuent National Power &. Light Co. and with respect to respondent
may
issue.
Standard
Directors
Laving
L.ectrio Bond
to
Sept. 30.—-V.
addition
(birder for heading instituting this proceeding pursuant to Sec-ion 11(b)
f&) of the ;P'ujjuc uiLiiy Holding Company Act of 1935 and having
Issued supplementary orders dated June 7, 1940 and June
17, 1940; and
-
Commerce
$2,348,363
amounting
for
plan.—V.
*
i
of
having
in
;;;
regular
a
cumulative preferred
this
on
record
v-'
...
declared
addition
in
6%
taxes
,1938
state
aqd
Up All Arrears—
have
National
re¬
follows:
company
VThe
of
be
as
Locomotive
7
of
on
claims
and
There
hre now actively engaged in
preparing a plan to dispose of these
gaining assets for the benefit of the stockholders."
i
the
-
Nil
Federal
Federal
stock.
1939
167,140
$0.81
additional
Clear
share
on
is effected
Co.,
of
To
Directors
433.153
,
depreciation.
shares
7
.
.
share—
interest,
provision
National
exchange
&
rcwer
...,•
—
pe'
♦After
per
-.
Corp.—Earnings—7..-', >'!Vi
July 31—
1941
; r
1940"'
__„__'__$21,424,000
$18,607 571
profit
$Eo.*rn«!.'
year
.
Stuart
a
7
this amount
ended
of
New
Department Stores
sales
«Net
exchange application is granted and the
effected, the- result will be the retirement of sub¬
National Power & Light Co. pre.erred stock.
Since
National has retired $13,275,000 of its deben¬
and on Aug. 23 called, for retire$2,459,000 of its debt.
Thus there will be out¬
$2,000,000 debentures and a small amount of assumed
standing cniy
Lima
Commission
this
iod
,',/v
12 Mos. End.
additional
an
offered
2.17%,
$1,107,299—
the
of
The
1
regular meetings of the Board of
Thursday after the first Monday
fourth
153, p. 995.
"
tures in preparation for liquidation
Went
to
Interstate
The
National
is
the
will
rolling stock
128,,
ation
•
287,993
'
Sept.
Commencing with
Directors
ap-
-Sr
stock
Halsey,
and
:
in
discussion
issue.
of
York, New Haven & Hartford R,R.—ICC Cuts
$2,348,363 Claims for Services in Raad's Reorganiz-
3,210
——$
—,
National Dairy Products
National-Houston
ox
certificates
the
reorganization
tne entry oi the SEC order for the dissolution of
Light Co. paves the way for the submission of
liquidation.
As we reported to our stockholders in
par last annual report, dissolution of National Power & Light Co. has
ii&change
the
basis
New
62,550
27,865
taxes
years
for
syndicate
cost
7 /'.iv
153,
2848,783
——-
—V
and
Power
steps
bids
interest
125,651
taxes
income
the
new
bwer
Rational
two
competing
an
Issuance subject to approval of the Interstate
Commerce
—V.
472.984
chgs.—125,074
other
$
of
of
from
589,128.
35,356
97,209
;
"•Profit.—V.
rlicaiion Lignt by this company for for Houston Lighting & o.Power Co.
& ii.ed
National
Co. pre.ei red stock the proposed exchange
ftdmmon
only
the
or
$2,133,557; 250 50-ton steel hopper cars, American Car and
Foundry
Co.,
$590,110; 900 50-ton steel box-cars, General American Trans¬
portation Corp., $2,755,467; 250 50-ton
gondo.a cars, Greenville Steel
Car Co., $716,672, and 100 50-ton
steel automobile cars, Ralston Steel
Car Co.,,
Columbus, O., $393,321t
The total OuLay will involve $6,-
1940
»
cost
tenders
$ 7,886,182
.
sale
the
,'7V-
7';'
59,173
Light
B. Sawyer, president
stated that:
hearing for September
a
:
1941
i-
—
income
adj.
Net
or-
7
.
'
farther
2V4S,
1935-
In commneting on the
order, P.
t>f the National Power &
calling of
■;'
'
r
"The
7
$
Loss-."
order, according to the Commission, is to insure
that the capital struct.re of the
parent company is not "unduly or
t.finece^sa:i.y complicated" and that the voting power is fairly and
fc^uivao.y distributed
June
expenses
L—
Federal
23
Aug.
Corp.—Earnings—,
bidder?
will be dated Sept. 1,
1941, and are to mature in ten
equal to annual installments of $580,000 each, from
Sept. 1, 1942 tQ
Sept. 1, 1951, inclusive.
Issued under the Philadelphia
plan.
Denom.,
$1,000.
Guaranty Trust Co., New York, trustee.
Cash realized from
1282.
p.
income
Amortiz.
sub-hold¬
orde. ed
was
End.
and
Other
of the
purpose
Can
Profit
Structure
,
Ly
153,
sales
Costs
ana
consumers.—V.
or
,7' (Formerly McKeesport Tin Plate Corp.)
7
,
Makes
received
headed
for
the
cents
Sept.
on
investors
were successful
The certificates
June
on
last;
paid
of
25.
30, last, and compares with 35 cents paid
paid on Jan. 20, last, and Dec. 16, 1940;
26, 1940; 25 cents on June 28 and March 26,
1940; $1 paid on Deo. 18, 19a9, and 25 cents paid on Sept.
29, June
20 ana March ol, 1939.—V.
153, p. 697.
>l;
March
26
road
Inc.,
100.437
,
common
On
Sept. 4
on
an
The
-
(8.)
Co., Inc.
issue of $5,800,000 second
equipment trust cerr
tificates of 1941,
receiving the award on a bid of 100.389
for 2%s, an interest cost basis
to the road of 2.05%.
The certificates were reoffered at
prices to yield from
0.40% to 2.40% according to
maturity.
(7.)
Whether it is necessary to impose any term or condition with
respect to servicing arrangements now in effect between Houston and
Ebasco Services Inc., or otherwise, to insure that Houston shall cease
to be a subsidiary, directly or
indirectly, of National or of Electric
amounting to $593,000.
The bonds dated
1, 1941 will be secured on company's properties
p.
-
any
ably
1, 1951.
debtedness
153,
Saturday, September 6, 1941
all
cumstances.
quarter annually Dec. 1, 1941—Sept.
Proceeds will be used to retire existing in¬
Sept.
in
respects the soliciting literature to be used
in connection with the plan is
appropriate and adequate to advise se¬
curity holders and prospective investors of all relevant facts and cir¬
feoncts, due $15,000
&nd franchises.—V.
Whether
attention
of
Con¬
that body passed a j.Mnt
suspending the issuance of any further
patents to the •com¬
a joint committee
appointing
tahinvestigate
the
clEtim's!1^
-
t^Masww awawa^MB'<!it|fitwtiii<MW^JriiMWifft!aaMi!ii)aiiU3ia>!a*»j^^
,.
'
On
June
25,
1929;
the recommendatiori
on
of
the Joint
Committee,
NY PA NJ Utilities
lands were retained by
By the same act, the Attorney General was directed
to institute
afford
suit to mear the government's t»t.e to the lands and thus
a
forum for the adjudication of the company's claim to
a
for
sation
NJ Utilities Co..
"
The
'
,
,
compen¬
is
Income
following securities and open accounts receivable, now owned by
to be acquired by NY PA NJ Utilities Co.:
of
administration of the
occurred
had
that
errors
-
.
•;»
■
in
the
grant and
of such
course
that,
as
Carrying
...
6%
7%
Dec.
Broad
opportunity
had
eral
to
effect
the
fraud
the
on
prove
153,
:
1284.
p.
r•
Liquidate
Inc.—V. 153, p. 106.
Companies,
$36,457,
Net
190,811
bonds
(Del.)—Weekly Output-
Co.
of
an
which
an
v
,
of
the
be
to
6%
such
indebtedness
has
d
a
Operating
..
Other
agreed
interest
•I.
-
,
liabilities of Associated Power
Co., will be cancelled:
' '
b-
.
Accrued
/
.
on
Fe
Operating
1941
———
———--r——X—;
Maintenance
'————~
;
_$6.;07,767
1,963,820
260,043
i-
650,038
———
-
'
Net
debt——
funded
on
five
cents
declared
Power
of
by
—
was
Bell
for
*
1,815
.
-
Power
1137.
p.
will
Corp.
Cash
of
30
cents
-'
in
was
made
such
Federal
for
Provision
NOTE:
$1,265,055
.yX,,,,:
——_v—u.
income
periods,.
the
with
accordance
Revenue
■
provision for excess profits tax under the Eeiond Revenue Act of
made as it is estimated no fcusji tax will be due -vrndur-
No
1940
on
on
revenues—
act.—V.
Forma
—V.
153,
152,
v9<6,
p.
<'-'by,
y,, ■;... yy;/-;;
V
,,
End.
Period
•'
'■
_$
—
"
Income
Federal
Other
taxes
income
(net)-'
'*
$
24,241
207
-•—
i"
92
income
Gross
Depreciation
payable.,...
4,605
Royalties
payable
int.
receiv,.
$1,574,923 $12 851,192 $10 990.652
629,292
5,137,729
4,349,649
$7,7 3.463
7,737,145
6,580,747
'
interest)
income
Int.
lal;
14,
85
-$
of
$
10,089
$
257,671
$
112,947
77,016
$
stockholders
Getty,
stockholders
will
$
'•
34,225
stock
81,202
42,790
$
30—
.
,
Mail
freignt,
Express,
Otner
revenue
of
Gross
income
Operating
•
Interest
Net
'
15,677
3,351,u36
2,863,550
$268,123
108,406
ship.,
Dividends
paid
388
com.
per
t Loss.
.
..
taxes—
Crli,697
The
Assets—
$296,408
1,411 "
4,287
$1.39
$1.27""
Balance Sheet
$.
Market,
Accts.
secur.
*•
33,939
..
'-'i—v—-
Inventories
—
assets-
Other
•
Fed,,
Nil
302,465
104,706 ;•
1940
is
$
$
648,835
-548,588
49,012
exps,
Sta-te -$
;•. (est'd)
.Cur.- debt
60,558
1941
■-'.•y*--
Cam' in.
608,528
Fed.
-
f.
';
*■ -
oi
U.
'*
S.
112,000
uu
.--f.
80,500
ma-
Unities'.——
Long term debt
Deferred
-
'
route
Def.
J
charges;.
48 737
55,276
110,65./
242,500
287^09
142.500
385,000
37,181
-
22,290
—
poss.
3 093,176
152, p.-2247." -4 >-
2,892,522
-
C'
•
obsol._
14,400
stk',_
i_„
579-pref
"•
Total
for
Inv.
48,737
.
-V.
inc._
Bes.
Gov. air mail
——
45,100
'Com.*- stcck___ 1,359,200 1,314,500
Paid-fa surp._
' 41,799
41.811
Lamed "surp.i
Total
238,729
1938
:
7od,683
75o,324
437083
499,126
"
$
237,553
$
223,570
288,540
201,437
114,033
42,160
$
$
235,035
66,119
:
$
32,005
12,258
inc
40,000
.
8,432
.
S
74,033
20,000
3,104
rr-q„^»iU..b;
$
33,624
1939
$
43,119
and $18,335
in
$
20,347
1938, reserved for
v":'~-v/;
-
,
all
the
of
con
and
(less
deferred
issued
$24,090;
notes
able
and outstanding capital
(Del.), consisting of 78,033.2 shares of
the
ract,
ment
interests of the corporation
and
and
shares
of
finance
notes
notes
in-
other
cum.'; preferred
no
followed,
companies. was
receivable
in
the
loans
equity
$121,833—V,
of
amount
$25,787;
collateral
■
oxner
$140,503;
customer's" deposit
on
payable—banks (secured by pledged install¬
of $872,813), $653,841; taxes pay¬
accrued liabilities, $27,885'; reserves,
stock, $993,500; common stock (29,004
par value), $29,904; surplus,
$159,775;- total $2,352,655.
usual practice of financing
installment sales through
$3
vNote—The
;
depreciation),
$252,794;
total, $2,352,655.
.
$71,537;
payable,
receivable
accrued,
$298,261;
for
reserves
charges,
Liabilitiec—Accounts
y
■
properties
assets
plan
of
reorganization
'-'V'v''..
n-;;
is
subject
r.
to
tne
following
conditions
v-
n
corporation
in-'th.fe
amount
amount
151,
at
and
of
o-
June
$905,071
$783,235,
1941, installment
pledged to secure
the company an
;7%\
3823,
p.
30,
were
leaving
:
.-
.■
Paramount Pictures, Inc.—25-Cent Dividend-
:
Directors
and
100%
ownership
by
the
better
better
its
of
the
-
445,749
119,665
stock
common
dissolve
i
l3,093,176 2,892,522
share
per
on
Recapitalize and Dissolve—
I,
E.
duPont
said
de
shares
'
"
corporation.
An
ana^'sis of tne
Milk
Nemours
its
to
b"
&
Co.,
and
the
•>;
thereafter
stockholders.—V.
"
.
153
p.
*.*
Co.—Balance
$
Cash in banks
and
on
.
rec._
Misc.
on
&
u:
i'Rea 1
approximately $2.37 per share,.- It
should <be pointed out that t.iere ■'
24,894
§-Due
ins.
int.
264,006
b y;
in
.
2,697
2,323
stock.
7,798,534
7,798 534
surp...
5,608,809
4,592,056
.....
.
7,870.196 **7,746,784
831,347 "
831,347
208,196
178 895
Total
—19,098,199 17,370,354
doubtiui
1940.
and $7,361,650
currently.
Earnings
164,765
1,059.855
to
reoferVeuor
'
for
Earn.
$127,049 in
1941
132,960
145,Olf
112^04,000
342,931
257,640
pay
tax
tCom.
-.
75,034
251,552
pay,.—81,5u0,000
subs.
\
£
* .102,916
.
inc.
Min.
'<w*,tr78
:..
oper.
and
:
$
1,663,844
&
Res.
17.177
4,266,489
3,639,137
775,562
1910
.
';"
&
Fed.
—
chgs.
Total
acc.
Notes
and
e^UiP.
Goodwill
Def,
34,323
--
$
2,349,065;
-b__
taxes
interest
Sun.
est.,
mach.
proposed, the combined earnings, of both corporations, after eliminating
the inter-cumpany dividends and holdings of-stock, would have been
2,530,135
4,552,912
25,593
advs.
sals
Acer,
em.
&
30
1941
wages
agents—
Inv.
June
-
pay.—
Acer,
;.
accts.
from
In*enwiies
the basis now
1,060,228
1,140,362
receiv.
Due
its stock no.di-igs of
corporation had net
earnings of $1,674,319 a.ter provision for Federal income" taxes. ~ The
-net earnings of the. corporation for this'entire period were, therefore,'
approximately $1.67 per share.' If during that period the corporation
Accts.
'
notes
com¬
"i;
&
accts.
'
...
Liabilities—
V * •: ',
hand
♦Customers'
;
1940
1941
v(
$2,099,072 after deducting dividends received on
the
corporation,
During tnis same period the
stock of George F. Getty, Inc.
Sheet—
.-.g."71.'■ .Consolidated Balance Sheet
.•
Assets—
for
owned all of the
of
distribute
and
-
Pet
-period Gebige F. Getty, inc. had earnings of $2,585,430, after - provi- •
sion
for Federal income taxes
and, before deducting dividends it
received on the stock holdings of the corporation,- and earnings of
had
cents
•
the entire period, after eliminating" inter-company hold¬
ings, dividends and transactions, would have resulted in greater pershare earnings "for the corporation
for that'period.
For tne entire
panies
25
corporation of the stock of George F,
.
that
of
).- i.i
1285.
F.
than
dividend
cents
at a special meeting on Sept. 26 will consider a
pro¬
of reorga x,zation wue.eoy the corporation is to exchange
holdings of capital stock of Dupont Film Manufacturing Corp.
for
to
Getty, "Inc. has a cash and current position which
than that of the corporation and a debt position which is
George
a
payable
20
Stockholders
posed
V-vu
.
$1,
par
with
compares
Tathe Film Corp.—May
capital'stock from 2,000,000 to 2,500,000 shares.
;
declared
Oct. X to ..holders of record Sept. 12.
paid on July 1 and April 1, - last, and
15 cents paid on Dec. 24, Oct. 1 and July 1, 1940 and on
July 15,
1939, this last being the initial distribution.—V. 153, p. 699.
:
That the certificate of incorporation will be amended to increase
;
have
stock,
common
This
parative earnings of George F. Getty, Inc. and the corporation for the
3'/a-year
period show that, had tne corporation o,v..ea ueoxge tr:
Getty, Inc. for that period the combined earnings of the two com¬
47,568
,
Also
much
^
tax.
'
Cost
$
455,665
deducting $18,373 in
'
Prop., plant &
equip, (net) 1,620,128 1,611,634
*$
1543,428'
341,032
profit
A.ter
and
authorized
corporation
—
payable
',.r
Accrued
••r
'780,263
69,394
'
Accts;
33,405
.
"receiVi
(net)
'■
••= •
31-4,296
142,974
in
T
June 30
Liabilities——
1940
1941
.
the
is that it will acquire a business having substantial and
valuable oil and gas producing properties which it can operate to
advantage in conjunction with its own properties.. This.should make,
the corporation a more important factor in the oil business and per¬
mit the corporation to increase the scope oi its aCwVities. ' \ >,
*
t$123,316
t
——
increasing
on
poration and the promissory note of $828,821.
It is to the advantage
of the Corporation to have this note hexd by its subsidiary rather'
than to be held by an outside corporation.
Another advantage to tne
-
Cash
15
William G. Skelly, President, in connection with the proposal states:.
1,638
Comparative
to be
Getty, Inc.,
cisco, Stock Exchange..
80,000
*
1939
8i2,157
Ti;
Balance, Sheet June 30, 1941
'
Assets—Cash, $12o,. •», .v,. a
,$56,597;
receivable—(unpledged), $363,523; installment notes receivable—
(pledged to secure bank loans of $463,941), $872,813; equity in vnnall-•
man.
notes
receivable—(pledged to
finance companie ),1'*3121,033;
inventories,. $499,630; cash value of life insurance, $3,449; plant
Getty, Inc. will give tne corporation a 100% interest in its unaenying
assets, including the 687,519 shares of common stock of the cor¬
112,000
at end of yr.
153,
&
adv.
i/
net
taxes——_d_
preferred stock—
sh. out.
153,
That shares, of , the corporation proposed to be issued pursuant
to
the plan of reorganization shall be listed
upon the New York
6tock Exchange,1 the Los Aiigeies Stock Exchange and the San Fran¬
3,022
on
*
J. Paul Getty, individually and as
an agreement known as a "closing agreement"
from
the U. S. Treasury Department to the effect t.iat sue.i enc.i.ange win
be a tax-free exchange under the applicable sections of the Internal
Revenue
Code, unless it be concluded between the corporation and
J. Paul Getty that such closing agreement need not be. ootaiaed.
3,035
—
'1940
$
,
repo*_o.,.,iou.
$100) in exchange for 1,273,421 shares of common
corporation, being on the basis of 16.31897 shares of
stock of the corporation for eacn snaie ox casual stock of
Tnat the
trustee, obtain
(b)
t$115,329
18,095
to prior yrs,
repre¬
•
772,345
exps.
for
Net
l
(c)
157,736
$396,529
$327,495
applic.
Sept.
/■;.
it
acquire
its authorized common
f$273,065
12,864
Canadian
profit
Earns,
59,420
558
-obsolescence
? . 14,400
litigation—12,500
,of
&
state
1940.—V.
•
(par
(a)
$2,595,485
$436,909
expenseV—
Settlement
Adjust,
-
$3,639,659
expense '
for possible in v.
Prov.
'4
31,211
Sundry
r
84,229
$468,120
Profit
Fed.
$1,550,876
32,900
3,301,000
profit
.'"969,512'
*
$4,337,909
——.
income
Other
$1,769,855
1,752,676
46,957
expenses
Operating
•?
The
1939
114,616
etc., revenue——_
income
-u
operating
c-o.iu,;
the
precedent
;V-
1940
2;324,504
.
Getty, Inc.
companies.—V.
Inc.
1941
•
i—i-U-iUdUU-UdU— $i, 852,333
revenue
Passenger
6)
Upon consummation of the plan of reorganization, George F. Getty,
will become a lOO'/e owned suosldiary of t..e corporation.
.
June
lfc.0,
Corp.—To Merge Getty Interests—
vote
Getty.
Airlines, Inc.—Earnings—
Ended
Years
predecessor
or
1,2.8,049
—
taxes •—..I,.—
;:y\r
Inc.
to
stock of George F.
capital stock
31,744
r
Northwest
3,5x7,001
3,029,799
stocks—. Dr4.274,545
-
30—1941
June
goods sold
on
George F.
$
1137.
25,
share
' v ;
common
15j, p.
Sept.
o.i
per
133,763
income
-V.
cents
.46,893
income
Net
paid
ce.its
Pacific Western Oil
its
_—
85
44,186
coii. lien ban
i
1st
on
3%
of
1.9,174
-
66 675
22,734,210
sulcus—
surplus......
Pressing Machine, Inc.—Earnings—end.
admin,
Co.—35-Cent Dividend—
dividend
a
2,6utt
217
.
,,
Total—$28,658,344
company
>• '
110,000
.
2,402,428
.
no^es
of
(before deuc.
Mfg.
declared
The directors beiieve
Balance
for cont. rovai,.
Cap. stk. (par $10)
$28.656 344
that
to
623 066
fund...
i,ebt__.__.
at amount carried by George F.
shares,
109 305
Res,
.3d
59$
55,805
taxes.
sinking
Long-term
139,830
208
*
liaouities—
lor
Deb;
> 8,660,28 7
74,006
$
■
Prov.
17,022 292
Sales
Sell,
$6 641.003
£37,881
10,291
3,477
r-Xb:
int.
Ace.ved
219,921
mos.
Cost
capital stock from 2,000,000 shares to $2,500,000 shares (par $10) and
on
approving a-proposal to acquire ad of tile outstanding stock of
296,306
$
-
149,777
•...
637,519
6
17.S28.351 '16 472,746
2,423.955
699.
p.
257,421
250
$
1.8o7
14,146
10,8ol
———;—
.
deductions
Income
$
24,448
——,
affil.
to
pay,
Accounts
La
144,114
294,469
,b.;:
Notes
1941
Getty]
»
1.191
$4,003,878 $30 679,543 $27,463 393
1240 and 40 cents pa.d on May 10 and Feb. 9,
9,
The
•
1,850,461
30,
of
57,132
65,836
$045 631
Marine"'&
Feo.
on
Aug.
1^9,785
3,665
14J.0.3
Xb;
14,055
June
307,980
senting cost
p. 1138.
1,017,630
have
Directors
and
754,563
16,915
10,721
$
Paid-.n
the
common
stock, payable' Nov.' 20 to holders of record Nov. 5.
This
compares with 60 ce..ts paid on Aug. 15, last; 40 cents on Kay 15
$1 ,263,549
214,56J
,,..1,319
lv.,550
.
!3..$
Other
850
-
taxes
——u_
17,261""
:,
19,760
Maintenance.
1
Sheet
reeff-.-a fie—
i,
$1,424,759
764,765
Cl.Jzl
67,999
Balance
rec.—others^..
Res'd
1941—12 Mos.—1949
104,976
$
128,407
74567
844 182
<
:•
1941—Ivlsnth—1940
31-
July
"73^689
877,267
996.
p.
Oiithoprd
Operating
revenues
Operation
r-—.
39,269
674,864
195,083
$
Liao.lities—
.$
(& Su?3s.)—E?.rning.T—
jNorth Texas: Co.
£58,019
110,000
189,114
Consolidated
charges
1941—7 Mos.—1940
7,566
2,76i,402
—
$
669,163
18,2^6
"Treasury
income $1,026 639
operating
income
145 774
812 244
$4,011,414 $30,745,379 $27,520,530
$4,501,987
expenses
$
28,124
dividend
*
1941—Month—1940
812,989
$
>.
has been
such
Net
$
322,581
b 6.6,531
Ai-U.IUU
99 ^"XTt
VZJ 244
*166,786
paid in notes of Pacific Wesiern Oil Corp.
share.,^ :
per
.$
Net
$
$.157,428 divs.
Prop., p.ant & equip.
Organization costs
Prepaid
ex.
&
def.
the
Dividend
share
5
last, and regular mo .thly
June 14, last.—V. 151, p. 3405.
operat. revenue- $1,740 585
Operating taxes—
713,946
bZV':.';''-..,'.7 .7'
y
418,764
31,804
—$
...
paid
Inventories
5,
Net
for the above periods
Acts in euect - ourii fc
(axes
income
$1,399,420
$2,128,160
1,982.385
1,704,0*9
4,189
„———_
Notes
Accrued
per
258,628,
taxeslb
x
/counts
be
Telephone Co.—Earnings—
Operating
Operating
1938
$2,026,630
394,224
16,181
inc.
income
Pantex
-
29,070
1939
$
Assets-
XX
15 to holders of record Sept.
Aug.
on
revenues— $4,512 459
t)uco..ectible oper. rev.10,472
-4,210
Inc.
1940
1,311,025.
[Giving Effect to Proposed Acquisition
i Cr30,769
v
500,000
Getty,
17,338
Fed.
Includes
Net
Net
income——.. $
equivalent, to $2
be
to
Corp.
153,
Operating
15,000
$1,218,224
—Years Ended December 31—
41,149
Co.
$705,641
———
Associated
dividend
a
Period Ended July 31—
41,843
:•
$
Total
Ohio
5,223
—
.
Associated
paid
paid
was
93,796
debt discount
of
Amortisation
of
$2,170,294
612,500
—8------——$2,060,165
———
612,500
and expense
,
93,702
Other interest ——;——_—■
;
v—/
4,445 v
Amortisation of sundry iixed assess
JLOXi
41,843
Amortisation of expenses on sffla3 of cap. stock10,000
Intere:t charged to construction ———
s— Cr25,703
Miscellaneous
— ..•
9,253.
Dividends paid by subsidiary company „— i
29,070
income
Gross
Interest
10
F.
George
$1,729,789
deductions
Dividends
826
—
c—
stock, payable Sept.
ce.»ts
of
$2,077,316
92,978
134,474
have
Directors
31,423
813 689
$
,
of
217,479
——
Investments
common
—
—
—————
of
212,986
liquid, of Santa
Inv.
Net
363,000
Oahu Sugar Co., Ltd.—30-Cent Dividend—
341,246
560,870
$1,925,692
operating income
Other income
b
8C3.192
911,096
than income taxes)———.
Provision for Federal and State income taxes— X
(other
Taxes
'$340,000
-
,
1,948,247
247,937
683,250
-
_
Depreciation '
$6,132,976
191,655
50,000
'
-
.
:
■ ■
—.L—.-«,
revenues
Operation
.
30——r- -yf
j.963
1,
account
open
Upon merger, the common stock
returned to it for cancellation.—V.
r
181 860
-
851,266
633,787
to
assumed by NY
PA NJ Utilities Co. are accounts payable to Associates, accrued taxes,
and other current liabilities, totalling $2,407. ::
..
.
;
.
Subs.)—Earn-
$1,441,303
163,910
!6 Mos End.
income
net
on
Other
'/
obligations—,.
—
liabilities
$1,045,549
....
Interest, expense.
Loss
*
owing
u
convertible
on
interest
Other
OX'-"C
Years Ended June
;
all
Corp.,
Utilities
interest
894,410
49,076
530,000
•
Account
income
Total
Commission.
acquired as at April 30, 1941, which include
receivable, dividends receivab.e, and deferred
aocount
open
667,560
—
expenses
Pro
1940
$546,892
$
347,399
144,608 f$
—„
operating income. $
,
(Wise.) v (&
Co.
Power
States
•••', ings
•
377,989
396,476
June 30, 1941
prohibiting the payment of the balance
represe its
interest on such indebtedness,
amount
order
Total
Northern
2,636,133
order
total $5,945.
NJ
Accrued
corresponding week last
with 30,342;920 kilowatt-hours for the
increase of 12.7%-vV. 153, p. 1284.
pared
year,
;
$3,183,025
—a—
$ Def.
Operating
Granville
convertible obligations due Marca
6%
Aug.
1938
^
2,098,622
—61,926
.
Gross
consummation of the proposed merger,
Electric Co. indebtedness which
upon
the
this
following
PA
NY
the Northern States Power Co. system for the
1941, totaled 34192 320 kilowatt-hours, as com¬
of
30.
output
1939
$2,476,611
82,681 f$
inc. taxes
.:
assumed obligation of NY PA NJ
consummation of the merger Will be cancelled.
are
Pro,
ended
profit—f$
income
f Loss,
340,818
the principal of
to
assets
accrued
cash,
The
Electric
1940
2,481,727
78,876
Dividends paid
,.bX .vX b'
_
Utilities
further
Other
charges,
week
net
for Fed.
Prov.
55,440
$66,000
__
$154,354
condition
of
,
Fower. Co.
States
Northern
1,
,>
upon
represents
a
and dissolution-of Northeastern Water
the liquidation
NJ
cancel
•until
-which to complete the transactions in
period of 60 days the time in
and
Co.
to
28 that
request'of the parties concerned'; it has extended for a further
at the
connection with
———'
$735,453
NY PA
will
amount
Aug.
happened
Corp.
$2,088,251
161,558 f$
J
«
v
announced
Commission
Exchange
and
Securities
The
:
Extended—:
Western Oil
■—Years Ended December 31—
1,180,736
.—^f$
„—
charges
.
1954———
A
Co.
Mohawk Valley
Utilities
Northeastern Water Companies, Inc.—Time to
Total
Other
Co.
Series
profit
Other income
33,150
$34,000
————
Total
r
•
.
prevail Jilt
has
61,234
54,000
Income
The
Further
Pacific
operating' income. $1,019,178
operating expenses
Net
account
open
$
600 shs.
account
open
6%
part of
attorneys.—V.
will
what
•
•Patcaogue Electric Light Co..
approving, the
of
5s
Electric
610 shs.
C——
...—
.
Power
Ref.
&
6%
them.
This action by the Supreme Court
government's theory of the effect of
the company and of giving the government an
opportunity to defeat the company's claim entirely, according to Fed¬
an
Corp.
Series
Co.
ref. bonds 1991
River
1st
Granville
to
case
Gross
Co.
stock
pref.
cum.
6% cons,
lower court, ordered
the
Edison
Mohawk Valley
U. S.-Supreme Court in part reversed a de¬
allegations of fraud to be reinstated,
the lower court to afford the government
the
1940,
16,
remanded
stock
pref.
cum.
Metropolitan
,■
On
of
Account
6 Mos End.
Total
condition
it- indicates
that
'*
a
administra¬
the company had obtained more in land and values than it was
entitled to by the contract,
1
•'' /v " '"'j 1
and
comparative
same
extent
'
Value
Rochester Gas & Electric
tion,
cision of the
this
the
to
June 30, 1941
against the company's claim to compensation for the 2,-
had violated its agreement with the United States in
several respects; that it had been guilty of fraud in the course of the
result
but,
past, it is significant.
the Associated, are proposed
company
Department of Interior's
that
assurance
future,
the
.
900,000 acres of forest lands in question, the government charged that
the
no
the
In
Sept. 2 approved the merger of Associated Power Corp.
on
NY PA
with
/-
lands.
such
defense
In
The SEC
57
Co.—Merger Approved—
Congress passed'an act by which the disputed
the government.
•"■""wmitw'wwiiMiwm
FINANCIAL CHRONICLE
Number 3977'
Volume 154
■■wwinniMuiniiiiifiii.iiMMi—.uinM.iiwiwwM.ii.wBiiwiiww.w
for
"Chronicle"
of
■
the
•
debts
and
discounts
19,098,199 17,370,354
of $142,330
in 1941
for depreciation of $7,773,831 in
f Represented by 441,354. no par snares.
t After reserve
in 1940.
1 $2 200.000
current and $200,000 not H current.
3 months ended June 30, 1941 appeared in the
30, page 1286.
Aug.
FINANCIAL CHRONICLE
58
Consolidated Income Account for Years
Ended June 30
All classes of electric customers
Domestic Subsidiary Companies!
[Including
.
Philadelphia Electric Co.—Rates Reduced-:—
Inc.—Earnings—
I'araffine Companies,
•
1940
1941
1938
1939
9,898,062
8,432,448
8,314,911
$3,768,406
$3,302,434
$2,827,983
sold-*;-...
goods
Proportionate share, of
net profits of cos. over
50% owned (not consolidated)
5,873
$3,960,060
$3,771,630
$3,313,643"
Philadelphia
Objections
funding mortgage
opposition to the
55^024
2,|77,798
38,747 •...'
22,582
18*8,666
61,651
for invest.
203,135
$921,884
64,032
827,517
78,417
114-646
712,719
712,719
$1,600,038
$1,713,020
$1,427,898
1,047*242
1,2*85*245
1,0*47^236
—„'
income
Divs.
——_
from
Fibreboard-
Charges to earned surp.
fDividends paid-——
for
is
$552,796
$380 662df$1.203,635
$427,775
8,274,603
7,846,828
7,466,166
8,585,514
84,288
surplus, bal-
$8,827,399
$7,466,167
$7,846,828
$8,274,603
$
July 2, '38f
67,455
84,336 *$
" $0.11
•
*
Loss.
;
-Nil'
$0.26
*•
.
Balance
York
Co.—New
Attacks
Assets—
Cash
Plan—
S.
District
for
the
Dec, 31 '40
(net)
1,075,490
760,068
Co.
101,477
129,855
1,210,596
1,421,096
1,833
Inventories
Other
-
1,672
20,199
70,962
that
the
refunding
The
of
the
assets
It
and
the
securities
new
to
be
and
26,725
51,873
26,640
•'».
•266
•117
for Fed.
and
Earned
state
('41)
64,026
Treas.
1.673,640
104,834
171,574
1,260,201
stock-1 <■135,543
surp.
Cap. surp.
allotted
1
•
_
Res.
i;
w'
•.
k-
taxes
<'40)
Other
curr.
liabilities
1,013,013
28,003
state
■
1.260,201
t98,338
--
Total
committee does not offer any estimates of the
assets nor suggest how much more the re¬
receive than is proposed by the plan, and
*
—-$3,634,733 $3,571,729
shares at cost,
34,728
.
Total —-$3,634,733 $3.571,72^
t 25,565 shares, at cost—V.
152, p.
995.
should
cannot
property
the
46,747
30,934
Capital stock
($5 par)
j 1,673,640
company's
this
asks
of
72,182
i
taxes
for Fed.
likewise is too low.
group
objecting
value
proportion
J
and
commiss.
Acc'd
Res.
and apparently not based on any present valuation of the
property and assets other than that shown by its own
and
the
105,10^
salar,.
wages
curr.
assets "
by the three other major committees—
the
Philadelphia and New York de¬
400,000
400,000 $
trade
Acc'd
——
Dec. 31 '40
June 28 '41
Notes pay. —$
Accts.
pay.,
Atla. Curtain
sinking fund gold bonds due in 1973 in
plan presented to the court last July for the
the company under Section 77-B.
\
•/. ;
5%
Sheet
Llabil.—
;
197,554 $, 198,502
rec.,
trade
re¬
June 28 '41
———$
,
Accts.
low
too
indicates
surplus
adjust. (Cr.)~
■"Earned
'
objections of the New York committee, filed by. its counsel,
Hayes, are that the amount of the new securities
debtor's
books,
$1,255,002
935,391
1,523,246
surplus
year
Miscell.
34,997
$
$0.42
.
Garfield
funding holders
Previous
1
taxes
Chief
$1,106,781
148,221
to
Net addition to
—i
"
12,714
$600,533
Arthur
Other
128,052
■v
•
July 1, '39
share
per
stock
,
$708,469
income
Net
June 30, '40
"
40,201
226*540
334*538
Prov. for Fed. income tax:
to res;
Earniings
capital
Investments19,896
Philadelphia refunding
and
Plants
and
bentures, and endorsed by the company provides for the substitution
prop,
(net) 1,000,178
of
$10,509,690 of new
general mortgage 6%
income bonds - and
27,709
1,050,969 shares of new common stock for the existing $24,344,700 : '> Def. chargesof refunding 5s; $29,148,000 for debenture 6s, and 160,000 shares of
$50 par stock.
'
'—
■
Bondholders
The plan which is sponsored
75,169
8,275
for
and
reorganization of
Subscrips. to exposition,
expenses, etc,
Misc. losses & chargesLoss on capital assets
sold and scrapped—
Reading Coal &. Iron
&
counter-proposals were filed in U.
Court, Pittsburgh, Aug. 30, by the New York committee
$3,786,431
2,414,645
2,576,184
2,658,894.
June 28; '41
Comparative
Selling, general and ad¬
ministrative expenses-
end.—
mos.
-
.
958,448
11,209
3,224
,
Prov.
6
Net prof, after depre.v ■
Fed. & state taxes_$.
'
Committee
Total'
Powdrell .& Alexander, Inc.-—Earnings—,
i,
benefited by Pew rate schedules
8,234,375
$3,954,187
of
are
fRep with the Pennsylvania Public Utility Commissions on Aug. 29 to
make effective on Sept. 1 the electric rate reduction of $4,000,000 an¬
nually ordered by the commission last June.
This is the largest single
electric rate reduction in the history of the company.rr-V. 153, p. 561.
$13,852,249 $12,200,854 $11,617,344 $11,062,358
Cost
Saturday, September 6, 1941
be
done
has
court
to
until
been
a
valuation
of
all of the debtor's
Public Service Co. of Indiana—Earnings—-
ascertained.v,
conduct
i
i
to - determine V the value of
1941—7 Mos.—1940
1941—12 Mos.—194Q.
Period Ended July 31—
the assets, primarily for the purpose of knowing whether a reor- V
Operating revenues — $10,490,069 $ 9,733,433 $17,073 246 $16 786.315
ganization can be effected.
When this has been done, the. New1 York- l'
7.735,156
:7,100,637
Operating exp. & taxes
13,043,090 ,12.240,330
committee says it will then be in a position to/suggest whatamount .
of new securities should be issued and how they should bef
apportioned * k *
Net
operat.
Income-1 $ 2)754.913 $ 2,632,796 $ 4,630,156 $ 4.545,980
among the various classes of creditors:
But in any event,', it claims
Other
- dr91,628
<jrlQ5,977
drl96,2J4
the refmidings are entitled to more than they would receive if the
igcome (net)/-!!: ;; dr 13,248
present plan is approved by the court.—V. 133, p. 846. >
■
; > .V
hearings
,
,
..
•The above earned sur¬
plus is comprised of:
The Paraffine- Cos., Inc.
$8,709,623
$7,738,345
$8,239,876
$7,359,980
Pittsburgh Coal Co.—Sells 1,500 Acres of Coal Proper- 'r
ties—
']"'!
'X $'yv ■■-vI/X.-XXIX
Wholly owned domes¬
cos.-(consol.)
89,517
7,827
Foreign cos. (over50%
21.605
owneC—Controlled-
26,900
18,966
Coal
stock,
for depreciation charged to profit and loss during
amounted to $390,646; ip 1941; $355,045 in 1940; $348,467 in
1939; and $335,030 in 1938.
3980.
Lands—
1941
1940
$
Cash"
$
874,294
:_i—
Liabilities—
710,153
■
Inventories
Exp.
&
3.116 612
3,861,307
_
3,877,477
The trustees have entered into
option agreement with the Pitts¬
an
pats,
213,849
542,561.
_
86,549
2.380.400
New
has
it
for
i
After
for
152, p. 2714.
.
Total
*—23,397,227 22,505,584
1941, and
f Represented by 476,062 no par shares.
Directors
the
Lease
With
Stock
Corp.
The suit was
Ex-
to
dividend
extra
15
cents
per
per
declared
an
Sept, 4, like amounts paid on June
America
of
operating
departments of
the
telegraph
Hearing
—
on
-
Stockholders
-
.
3 at the New York County Courthouse,
brought by minority stockholders of RCA again3t West-
E. and certain officers and directors of RCA and was
originally instituted more than three years ago, charging conspiracy
on the part of the defendant in the waste of approximately $500,000,000
of ROA assets over a long period.
During the litigation, the court dis¬
missed $262,000,000 of the original amount.—V. 153, p. 998.
company.—V.
July
31—
1941—Month—1940
——$
1,894,128
85,484
$
200,697
14,783
1941—mo.—1940
Period End. June 30
for
1941—7 mos.—1940
1,688,326
176,982
199,273
6,164
$13,577,614
Other
$12,111,200
402,678
cr92,885
1,404,877
85,271
21,423
Interest
discount
&
$95,688,102 $85 638.013
—$16,398,439 $14,117,116
expenses
8r857,198
607,027
10,104,115
681,242
---
taxes
Express
u_V—V*—$
153, p. 847.
300,964
;■
$
383,418
$
.
1,397,262
$
1,779,599
59.007.314
3,974,391
52.975,061
86.335
7,407
535.491
505,140
154,285
56.442
3,598,679
on
of
14, last.—V.
funded :fiebt ;iyyy^
,
V
■
7,774
T
Chicago—Quarterly Report—
Co.,
y 91,256
■
f Rail
&
:
deductions
Other
7
——
inc.
&
revs.
Operating
1,355,497
inc.
&
revs.
Total
194,1—6 mos.-r-1940
^-$16,158,777 $13,894,067 $94,306,357 $84,336,976
239,662
223,049
1,381,805
1.301,037
transp.
%
.
t Payments
i
.
revenue..® 5,514.052 $ 4 559.149 $32.016 681 S28.502 691
to rail and other carriers—express privileges.—V. 153,
transp.
848.
p.
y/;!.:/;-:
,:':v
y
Fred A.
the
common
after the current payment Will
153, p, 847, —
; ; !
: i
I'-"'
Arrears
G.
inghouse,
'
regular quarterly dividend of 25 cents
stock, both payable Sept. 15 to holders
have
addition
over a period of'two years..-
Building Co. announced" Aug. 30
1945. the lease with Postal Telegraph-Cable
the building at 20 Broad St. which a-e oc¬
in
for
loss
Nat
-V.
Poor
in
20.
"
depreciation of $5,350,626 on June 30,
1940.
Sept,
$27.50 per share.—V.
hearing on behalf of stockholders of. the corporation to consider
the offer of $1,000,000 made by attorneys for Westinghouse Electrld
& Manufacturing Co. and General Electric Co. in full settlement of a
conso.idated derivative suit, will be held before Abraham J, Halprln;
Exchange
to
deprec.
Interest charges —/
Petroleum Exploration Co.—Extra Dividend—
r
Stock
floors
Revenues
Provision
reserve
record
A
Telegraph, Inc.—Earnings—
end.
Per.
Total
164,881
$4,992,923 on June 30,
on
Pittsburgh Coal Co.
Loss
—23,397,227 22,505,584
1.742,339
Railway Express Agency—Earnings—
Postal
1
98,344
2,607,426
.
1,968,645 $
8,274,603
'
—
Total
York
renewed,
several
cupied by the
151, p. 113.
52,473
65,273
2,555,533
V;.
Claims Set for October 3—
:
16.666,170
deferred
—V.
The
that
Co.
exps.
Charges
Radio
;
Charges
■
,
V
;
attorney, as referee, on Oct.
71,848
213,439
523,521
—
Prepaid
V
i
3663.
p.
Telegraph Cable Co.
changed Renewed—
•
cost
at
less amort,
foodwill
&
152,
for other
tCom.
Stk..:i0,666.170
Earned surp. 8,827,399
121.028
—V.
Postal
248,793
of
amount' to
;
23,804
—
1,430,033
Directors have declared a dividend " on $1.25 per share on account
accumulations • on the $5
preferred stock, payable Oct.
15 tQ
of
The trustees of Pittsburgh Terminal have arranged to, finance the
purchase and the transaction has been approved by the U. S. District
Court at Pittsburgh.
The terms of the transaction provide )or pay¬
232,000
pf. stk (par
$100)
2.380,400
5,423,128
V;. V;
„
—1
23,804
340,000
4% cum- con.
in
—
643,319
stock
Fed.
tax
; v
burgh Coal Co. for the purchase of approximately 1,500 acres of. coat
land adjoining the Cov'erdale No. 8 mine of Pittsburgh Terminal.
The
ment to be mide-to the
i
824,111
Reserves
.
Construction
Land
Pro.
47.546
8,468,765
36.186
8,294,301
1286.
p.
1,491,997
./
on
taxes-
ipc.
chinery
&
equip. —.5,838,696
•
pref.
ma¬
progress!
~
misc.
div
,
Prov. for
employeesInvestments-
work
&
Acer,
advs, to
accts.' of
•Bldgs.,
/._/
1940
Accts. : pay.,
tr.
3 572,416
(net)-
rec.
;.
1941
'■
Notes & accts.
.
'
.
•
transaction it is said, involves about $1,000,000.
Consolidated Balance Sheet June 30
.
153,
2,741.665 $ 2,541.168 $ 4.524.178 $ 4.349,765
$ 1,249,668 $ 1,111,135 $
income
holders
year,
Assets—
>
Puget Sound Power & Light Ca.—Accum. Dividend—
Note—Provision
the
152. p.
Pittsburgh Terminal Coal Corp.—Arranges Purchase of: -VI
■
common
Pittsburgh Terminal Coal Corp.—V.
20,472
stock in 1941 and 1940 and $952,026 in
1941, $1,190,029 in 1940, $952,020 in 1939 and $1,428,030 in 1938 paid
on
—V.
$
deductions
other
85,715
See
f $95,216 paid on preferred
&
Net
•
96,171
—
income %—w—
Gross
Int.
undistributed profits
since acquisition of:
tic
,
share.;,'of
proportionate
of
share
share
record
Ppor, President In letter to stockholders, Aug. 29, states: ^:
Shipments during the first six months pf 1941 were, maintained at a
high level and amounted to nearly half again as much as. the total for
the same period in 1940,
Incoming orders also held up well so that
despite heavy shipments, our backlog on June 30» 1941 was 95% of
whqt it
152, p. 3663.
was at the start of the year
which it stood on June 30, 1940.
at
Rayonier, Inc,—Reduces Debt By $500,000— ;
nearly six 'times the level
and
•
Sept. 2 announced the prepayment of an additional
$500 900 of its long-term bank loans representing the maturity due
Aug. 1, 1943.
This reduces the amount of the long-term loans out¬
standing to $4,000,000.—V. 153, p. 1286. :
..v
The
company
,
Earnings for Stated Periods
'
'
'
•
Philadelphia Co. (& Subs.)—Earnings—
1940
(Not
:
12
Mos.
including Pittsburgh Rys. and subsidiaries and other
-street railway subsidiaries of Philadelphia Co.)
End.
June
30—
1941
17,713,845
and repairs "1,—
for
retirement
Maintenance
Amortization
of
Amortization
of, utility
justments
Taxes
leaseholds
—
by
Net
"
6,219,133
3,231
5,839,444
w—
ji—_—
Gross
Interest
on
of
Interest
debt
Federal
on
discount
income
and
419 000
876.000
-
-
316,945
expense
26,230
Crl53,561
69,369
Interest charged to construction
——Taxes paid or assumed on interest and dlvs.a--
2,463,220
■
316,203
98,089
Cr44.541
for
year
i
235.0(6)
379.000 V
614 000
630.000
to
Directors
reflect pro-rata ^artion of income and profits
.
VV
•
months of
'.I ,V
•
1941
Interest on funded debt
Amortization of debt discount and expense
Interest on-Federal-income tax
charged to construction
Taxes paid or assumed on interest
a Guaranteed
payments —b Appropriations to reserve ——
Interest
—
Consolidated
a
.
On
—
settlements, etc,
1,599.875
16,908
the tax reserve is
set
up
follows:
a.s
net income
for the
Consolidated Gas Co.
The
and
Total
tax
New Director Elected-=R.
13,957.
for
L, McClelland, president of Chicago Mill
Lumber-Co. has boen
fill a vacancy.—V. 153, p. 561.
y •
.y'
Progress Laundry
191.499
1.015
Directors
04,406
524.669
addition
the
,
,
.
•
estimated no such tax will be due.—V.
153, p. 997.
aro
reorganization.,.
for the period May
Claims totaled
$1,253,656.,
1933 to January 31,
16,
The
1941.
-al¬
Commission .ruled out as having no jurisdiction a $35,241*
claim- by E. N. Brown, chairman of the pirsco, board, for expenses
incurred in connection with litigation against him by the comoany's
Co.—Extra Dividend—
declared
an,
extra
dbidehd
of
10
•
cents
per
y
share
to
trustees
the
Mr.
common
Investing C.orp.—1Three-Gent
Directors have
,
Note—The companies are making provisions for Federal normal In- >
taxes for the year. 1941 in accordance with the Revenue Act pojy.,,
under which no provision is being made for excess profits .<
come
in effect end
tax as it is
have
Prudential
bFor
companies
-
company's
lowances
and others over the purchase of stock of the Rock Island.
Brown
refceived
an
allowance
of $40,125
on
another
claim foe
This clai"1 was for services as chairman of the Frisco board
subsequent to Nov. 1, 1932, when a receiver was appointed.4
—V. 153, p. 1287.
$65,125.
,
period ——--$ 6,638.963
$ 6,702.987
of the City of Pittsburgh preferred
Capital stock.
•
Francisco Ry.—ICC Grants $617,750 Fees
Interstate;Commerce'Commission on Aug. 27 allowed $617,750
services and !reimbursement of expenses by parties interested in
th6
remlar quarterly dividend of 20 cents per share
stock,) both payable Sept. 15 to holders of record
Sept.. 5.
Like amounts paid on June 14 and on March 15, last; extra
of 25 cents was paid on Dec. 2, 1940, and one of 10 cents on June
1, 1940.—V. 152, p. 3825.
in
on
69.192
payments (made to others) on obligations of street railway
guaranteed by Philadelphia Co.: On obligations held by
the public.
j
regular
The
130 094
——
share in
quarterly;! dividend of 10 oents on the common
! to holders of record Sept. 20. Like amounts
were paid oh June 25.. and ADril T, last, Dec.
16, Oct 1, June 25 and
April 1, 1940.—V. 152, p. 3826.
to
The
3,000.000
124,079
69.192
528,151
Directors have declared an extra dividend of five cents per
addition!
Stock, both payable Oct.
St. Louis-Sau
$614,000
reserve
$10,615,050
divs,
ac¬
Roberts Public Markets, Inc.—Extra Dividend-
V
and
1,581,875
3,000,000
191,731
186
Crli.386
cents per share on
.
$10,540,917
—
dividend of 37'/2
•
elected director to
Balance
a
tax acts were, in effect and
Canadian normal income .esti-yVVVV'V'-y:,;
mated for 1941 on thie basis of the law now in effect—V $247,000
Provision, for Federal and Canadian excess profits tax est!-.
mated for 1941 on the basis of the law now ia effect
268,000
Provision for estimated additional taxes under the proposed Revenue Act
99.000
fA Federal
have declared
count of apcumMixtions pn the $1.50■cumvl°tlve, preferred stock, payable
Sept] 15 to holders of record Aug. 26. . Like amount paid on June 16,
last and last previous payment was made on Aug. 25,
1937 and
amounted to 50 cents per share.—V. 152, p. 3826.
•
estimated applicable to profits of first quarter of
as
Ty
six
'
Robbing & Myersf Inc.—Preferred Dividend—
481 000
736.000
true comparison of operating resets is given by the earnings be¬
taxes above,
but comparative
earnings after tax reserves are
the
,
297.000
.
.
1,366.000
somewhat confusing inasmuch as different
in prospect during the different periods.
For
on
the
to
common
*184 000
*.
.
1,09^ 000
..
76,144
:
Dividends on capital stocks of subsidiaries held
by the public
Minority interest in undistributed income
•
69,191'
81,187
Misceilaneous
—
fore
Sept. 2 declared an extra dividend of 50 cents irt
regular quarterly dividend of 30 cents, por share on
stock, hoth p^vable Sept. 30 to holders of record Sept.
See also—V. 152, p. 3983.
"
'
Directors
the
704,000
30th
June
♦After adjustment
1941.
Provision
funded
.
addition
497.000
V-
r—-
ended
months
taxes
$15,189,188
Dr378,084
settlements,
tax
199,000
193.000
20.
quarter
quarter
six months
1st
3,141,351
2,522,698
Amortization
903.000
30th
150.000
Rieke Metal Products Co.—Extra Dividend—
304.000
$
1941
A
$15,567,272
-——-$15,020,568
Companies:
647.000
—-
June
Tax Reserve
68.000
82.000
taxes
3,862,754
--—$15,359,355
Dr338,787
income
Subsidiariy
633
3,123,745
Reserve
!
275,000
_
ended
First
12
26,871
690
utility subsidiaries
operating revenue
—
income (net) —————;—
months
After
■
372.000
quarter
months
Second
3,078,999
income
six
12
ad¬
——
(other than income taxes)
for Federal and State
Provision
Other
3,380,585
acquisition
plant
$46,624,662
15,544,761
—3,594,676
depletion
and
Appropriations
1st
•
Tax Reserve
'
y,
.quarter
Second
1940
—$49,832,683
Operating revenues
Operating expenses
First
'
Before
declared
a
dividend
ot three cents
per
chare on the
Oct. 1 to holders of record Sent, 15.
Like
paid on July 1, last and compares with two cents paid on
April 1, last; four cents, paid pn Dec. 30. 1940; two cents, naid
on
Oat. 1, 1940; three oents on April. 1,
1940; seven cents on .'Dep.
28, 1939, and four cents paid on Oct. 1, 1939.—V. 152, p. 3981.
common
amount
stock,, payable
San
Dividend,
Carlos Milling Co.—20-Cent Dividend—
Directors
have
declared
a
dividend
of
20
cents
per
share
on
the
stock, par $8, payable Sept. 15 to holders of record Sept. 2,
with 35 cents paid on May 15 and Jan. 25, last; 15
cents ,paid on..Nov. 15, and like amount was paid on Oct. 15^ 1940,
and previously regular monthly dividends of 20 cents per, share had
been distributed.—V. 153, p. 1287.
,
common
this
compares
Volume 1S4
San
Diego
FINANCIAL CHRONICLE
Number 3977
Gas
Electric
&
Serrick
Offered—Public
Co.—Stock
offering of 60,375 shares of cumulative preferred stock,
5% series ($20 par) was made Sept. 3 by Blyth & Co.,
Corp.—Annual Report
Years
Net
End.
June
30-
of
Southern
1940
1941
sales
Cost
Inc. at $24.25 per share plus dividends.
59
1939
.
$3,898,854
$2,690,157
$1,737,123
$2,460,864
3,035,276
2,394,811
1,523,066
2,217,469
sold-...
goods
The
13
Agent, First National Trust and Savings Bank, San Diego,
Registrar, Bank of America, N, T. & S. A., San Diego, Cal.,
right
Cal.;
$8G3,578
&
admin.
$295,345
$214,057
$243,395
326,275
,
Selling
251,596
186,686
228,054
at
$43,749
$27,371
31,150
$15,341
Purpose—The entire net proceeds will be used to reimburse the treas¬
of the
in part, for capital expenditures heretofore made,
Dec. 1, 1940, have exceeded $2,000,000.
These expendi¬
paid for in the first instance out of treasury funds, in¬
cluding proceeds of indebtedness to banks incurred subsequent to Dec*
1, 1940.
ury
which,
tures
Proceeds
this
It
Net
company,
indebtedness
of
financing
the
is
by
an
of
tnis
will
Other
sales...
on
$537,303
income
'
13,321
6,767
11,668
of
to banks,
amount
of
Prov.
with other funds of the company.
to reduce the amount of its in¬
July 31, 1941, amounted to $1,450,000,
approximately the entire net proceeds
for
were,* and
the
proceeds
net
equivalent
on
to
,•
...
1st mtge.
Pref.
($20
Debt June 30,
"Earns,
v
5%
Stk.,
Stk.,
($20
Ser.
Ser.
$10,000,000
200,000 shs.
None
^,—1,500,000 shs. 1,003,250 shs.
—
stock
($10
par)
bonds
may
'
"Additional
only
t upon
mortgage
issued under the
be
oper.
Total
oper.
exps,
__
warrants,
stiare_—
$1.97
of
shares
class
B
Nil
Nil
after deducting
stock,
common
of
class
1941
30,
—■
,:u
taxes on
will be
wages,
taxes,
sundry
payable
■■
,$150,000;
■
.
6,477,024
Net
oper.
other
income
.7
.
,
,
2^1$ 1,507,816
income
Gross
667,596
income—-J-$ 1,188,965
Net
payable,
$120,573;
roll,
commissions, $43,179; real estate, pay
$35,835; class A common stock
($5 par),
$ 2,306,899
132,500
$ 1,570,319
237,775
$
2,174,399
$ 1,332,544
on
and
after
justment
$242,085;
To
.•■'V:' —,2.:—
Business—The Company is an operating public utility
It has been engaged in the electric and gas business since
1905, and in the steam heating business in a limited area in the City
of San Diego since
1920.
Company generates, purchases, transmits,
distributes and sells electrical energy for light, power and heat to
domestic,
commercial,
industrial,
agricultural,
municipal,
military
and naval customers in San Diego County and a portion of Orange
History
Permission
and
territory from the coast to the mountains, in which
are located the City of San Diego and practically all the other cities
and towns, and the major part of the agricultural sections of San
the
in
Company also purchases, distributes and sells natural
domestic, commercial, industrial, military and naval
City of San Diego and in adjoining communities in
western San Diego County,
This gas is purchased from the Southern
Counties Gas Co. of Calif., and is delivered to the company within the
Diego County,
retail
at
gas
to
the
in
customers
limits of the cities of
in San Diego County,
corporate
Oceanside,
and
2
Diego
San
:
and
at
—
Retail electric service is furnished in 44 communities and adjacent
rural territories having an estimated aggregate population, based upon
the Federal Census for the year 1940, of approximately 285,000,
all
in the State of California, and all but approximately 5000
in San
Diego County.
Gas service is furnished at retail in ID of these com¬
munities and in adjacent rural territories having an estimated aggre¬
gate population, based upon the Federal Census for the year 1940, of
approximately 265,000.
The population in the territory served is be¬
lieved to have increased by at least 60,000 since the date of the Fed¬
eral Census.
'v!" ■■■'•■'. '5„
other points
v
•
v
,
.
■
twelVe"months ending
During the
of
1941, approximately 65 %
June 30,
operating revenues of the company was derived from the
34% from the sale of gas and less than 1% from
sale of steam.
During this period approximately 72% of the total
the gross
sale
the
electricity,
of
and
electric
operating
gas
derived
were
revenues
and
revenues
of
all
within
sales
from
steam operating
limits of the
the
Electric Co., formerly a par¬
ent of the company, on July 8, 1941 sold all of the stock of the com¬
pany owned by it, and no longer holds any of the company's secur¬
ities, so far as known to the company. >
^
V
— Comparative Balance Sheet ',
8- 30-41
•
:
labilities
12-31-40
5%
.:
.
Prop., plant
r
& equip. $45 740,222
Intangibles
1, 329,807
C
h
a s
C
*
*
h
a s
dep.
i, 079,875
Cus.
517,666
85
;
affil.
119
Accts k
r
e
chgs,
pef.
36.051
482,569
374,354
40 /• *0
703,506
..
153,900
72.682
185,678
165^707
the
deducting
of
company
the
net
from
proceeds
the
sale
of
excluding
but
expenses
accrued
interest!
$11,908,050
1941, of $5,771,523 ad¬
—'
bonds
interest
the
on
5,771,523
mentioned
above
bonds
of
payment at
pany's
4%
principal amount,
collateral
June
11,
1941,
147,340
of com¬
450,000
note
Silesian-American
the
153,
satisfy
The
703,
p.
101
at
of
Bluffs,
ref.
la.—Bonds
Bonds
1,
dated June
are
y
1,
to
aggregate principal amount
premium.
any
an
of
$10,000
To
(a)
Pacific
to
proceeds
be
delivery
end.
Oper.
.
Net
Net
:
was
Sis¬
ters of Mercy came to Council
Bluffs in 1887 and within a month
after their arrival established a hospital there.
Mercy Hospital, Des
Moines, was founded in 1894 by Sisters of Mercy of the Davenport,
Iowa
Community..
In 1916. the Mercy Hospital. Des Moines Sisters
became an independent foundation.
In 1922, at the request of the late
Most
Reverand T." W. Drumm,
then bishop of the Diocese of Des
Moines, the Sisters at this institution affiliated and became one Com¬
munity with the Sisters of Mercy of Council Bluffs.
income
—V.
$ 8,110,583
29,166
$61,845,404
234,393
$56,497,543
217,998
5,689,204
$8,081,417
5,116,765
_$ 3,334,083
$ 2,964,652
$61,611,011
38,166,236
$23,444,775
$56,279,545
35,245,507
$21,034,038
9,380,133
8,256,012
_
—
1,161,445
1,337,881
—
$14,064,642
$12,778,026
12,362,881 ;
11,093,99^
1,803,207
1,556,676
$
—
'-y-'{-•■V
p/, 1142.
153,
1941—7 mos.—1940
_$ 9,056,610
33,323
income-$ 1,996,202
1,735,429
oper.
Co.—-Earnings—
Telephone
1941—Month—1940
—_$ 9,023,287
revs.
Operating taxes
Net
Oct. 1 the unpaid balance of the
to eight banks/—V. 153, p. 1288.
on
and
rev—
expenses
oper.
pay
RFC
Bell
revenues
Operating
pay
to
July 31—
oper.
$20,000,000 Notes—
Issue
$20,000,000
the
Operating revenues
Uncollec.
etc.j see
authorized by the Interstate Commerce
secured
serial' promissory notes,
been
used
to
Southwestern
Per.
Co.—To
has
issue
debt
company's
witnout payment of
History—In 1831, the Congregation of the Sisters of Mercy
by Mother Mary Catherine McAuley in Dublin, Ireland.
of capitalisation, history, property, earnings,
3664.—V. 153, p. 1287.
p.
The
company
Commission
to
Purpose—Proceeds
■
152,
Southern
corporation-to. the extent
follows:
statement
For
V.
of this issue, together with other funds of the
required, will be paid out by the trustee as
the cost of this financing; fb> To pay and retire
$215,000 first mortgage 4% refunding bonds now outstanding* (c) To
pay and retire the
$22,000 outstanding mortgage of the corporation
on Bishop Drumm Home.
•
—Security—Bonds are secured on Mercy Hospital and Bishop Drumm
I-Iome for the Aged, and farms having an appraised value of $594,692.
:
the
sources.
1< 1942
int. date, at its option, which shall not be cumulative,
.redeem bonds in the reverse order of their stated maturities in not to
exceed
increase
purposes
any
on
to
of
above
—July 1, 1956.
Definitive bonds will be in coupon form in denom. of
$1,000, and $500, and $100, denom. in July 1, 1956 maturity only, registerable as to principal and interchangeable.
Principal and int. pay¬
able July 1 and Jan. 1 at office of Central National Bank and Trust
Co., Des Moines, trustee, or at option of the holder, at office or
agency of the corporation, First National Bank of West Bend,
West
Bend. Wis.
Both principal and interest of these bonds will be pay¬
able in lawful money of the United States of America.
At option of
corporation and upon not less than 20 days published notice, any and
all of the bonds may be redeemed on any int. date by payment of
principal, accrued int., and a premium as follows: 1% if red. is af¬
fected on or prior to July 1, 1946.
There shall be no premium if re¬
demption is affected after July 1, 1946.
In addition, the corporation
may,
facilities
of the company's system and miscellaneous construction.
A
approximately $1,770,000 had been spent for certain of the
up to April 30, 1941, on which date the company had
on hand approximately $3,350,000 in cash.
It is contemplated that any
additional cash which may be expended for the above or any other
purposes
will be provided from earnings issuance of, securities or
total
other
31/2%
and mature semi-annually Jan.
1941
that
capacity
y
3% to and inch July 1, 1946; thereafter
1951; thereafter 4% to maturity.
rates:
inch July
general
Company contemplates expenditures during the calendar year 1941
of approximately $2,250,000 for the construction of the pipe line be-t
tween the Logansport and Monroe gas fields and gathering lines and
other equipment in the Logansport field,
of approximately $750,000
for increasing
the company's investment in its subsidiary, Southern
Production Co., Inc., of not less than $2,500,000
(in addition to the
remainder of $2,186,437 above mentioned)
for increasing the delivery
Tiegier & Co., West Bend, Wis. are of¬
and int. for all maturities (except July
serial bonds.
mtge.
Interest
and
will be added to the
and no specific allocation of the amount to be
particular purpose has been made.
Company contem¬
such remainder will be applied toward the construction
company
any
parallel lines and compressing
capacity of its system.
requirements of the Treasury
the necessary Court orders will
Council
to
of
•
of Mercy
C.
the
of
plates
Corpor¬
.
;
,
remainder, estimated at $2,186,437,
funds
devoted
the
issued,
are
——$18,276,913
Treasury
89,614
166,237 '
int.
603,734
277,333
278,248
.
*
7v
accrued
—
Defer,
166,133
,
of
-.."y
1,205
5,131
liab.
106,394
<121,080
depr.
Res.:
have
stock,
of
11,344,029
10,691,654
4,040
of
holders
to
$1.50
stock,
preferred
participating
record
paid
was
Standard
Electx*ic
Oct. 16, 1939.—V. 153, p. 850,
on
declared
par
15
$2,
cents
a
dividend
254.
*
.
,
••
•
paid
-
«
cents
25
per
share
on
—
14.5%.—V.
for
153,
the
operating companies in the
the week ended Aug. 30,
compared with 135,538,765
week last year, an increase of
for
system
kilcwatt-hours,
corresponding
1288.
p.
Co.—Weekly Output—
utility
public
Electric. Co.
and
-O
as
„
'
:
'
>
v'/'
\
Read
Co.
&
market
"f
•
(New Jersey)—Stock Offered—Dillon,
Standard Oil Co.
previously .- regular quarterly dividends of 12'/2 cents per share were
In addition/extra dividend of 25 cents was paid on Dec.
1940.—V. 152, p. 438.
the
of
155,189,333
kilowatt-hours
the
to holders of record Sept. 2.
June 15 and on Feb. 28 last, and
on
Gas
Electric
and
16
payable Sept.
were
of
Gas
output
totaled
1941,
after the close of the
capital stock, (par $25). The
Dealers' discount was 75
29 offered
Aug.
on
shares of
150.000
offering price was 43% net.
cents
Sorg Paper Co.—Accumulated Dividends—
are
in
arrears
on
both
issues.—V.
151,
3577..
p.
.,
The issue has been oversubscribed.
share.
per
This stock
Directors have declared a dividend of $1 per share on the 6% pref.
class .A stock, and. a dividend of 67 cents on the 4%
pref. class B
stock, both payable Sept. 2, to holders of record Aug. 23.
Dividends
another block from the estate
understood to have been
Is
Harkness who died last year and whose,
holdings at that time were estimated at 1,000,000 shares.
In Jan. last
Dillon, Read & Co. marketed a block of 500,000 shares.
At that .time
of
the
4,040
Amort.
account of
payable Oct.
dividend of $1.50 per share on
a
$3
the
Skilsaw, Inc.—25-Cent Dividend-^ %*'y,
Dividend
the
of
operation
common
Corp.—Accumulated Div.
Ste^mshiu
te
declared
on
Sept. 20.
Dividends of 75 cents were paid on.
"July 1 and on April 1 last; div. of $1.50 paid on Dec. 18, 1940; 75
•cents on Oct. 15 and July 15,1940, and on Dec. 11, 1939, and one of
1
57,791
1,154,104
taxes
&
work
Fruit
Directors have
accumulations
Sisters of Mercy of Council Bluffs, la. includes
hospitals, sanitoriums. schools of nursing, the con¬
ducting of -parochial schools
and academies, providing homes for
children, working girls and for aged persons.
^
The
the
19,
Other: curr.
1,650,754
'
Standard
distributed/
&
liab.
exp.
holdings in
with
1, 19d6 maturity which is priced at lOO1—, $245,000 1st
Directors
7,396
Acgi\
23.481
„
737
stock
Cap.
600,000
13,788
Acer,
c..—
16,000,000
1
1,050,000
wages
4 7
their
licenses
Sisters
fering
to
aries
nts
Other A
Prepaym'ts
apply
at 100%, on Oct. 1,
the date
Standard
dep. •
sal¬
Acer.
cos,
.
pay.
Div.
Indebted, of
.
co.
•//yaffil,
781,642
759,381
avg
cost)
..
pay,
Indebted,
r
(at
Accts.
270.000
270,000
6,292,500
10,032,500
16,000,000
__
•
the
delivery of the bonds to the respective
dates of redemption (estimated)
Retire
to
pay-
Sble
to
aitks
nts
rec.
d
e
debt
with
trustee
Inv
p u n d
Notes
o n
Accts &
$
6,292,500
$
stk.. .10,032,500
Com.
261/130
279,745
dep
12-31-40
■
'
&
dem
—
v
6-30-41
cum.
otocit
$44,114,188
1,329,807
.on
hand
of
founded
In Control—Standard Gas and
Assets
sougnt.—V.
(The)
corporate
the
City of San Diego,
Change
of
applications
new
applications
new
Offered—B.
company.
County
the
If
requirements on the
of the shares now.
dividend
stock
preferred
annual
and
$540,000
preferred stock to be outstanding upon the issuance
offered are $375,000. '/.
J'*-- "
will
mortgage
payment
from
'
debt now outstanding are
funded
stock
additional
——
$ 1,470,553
charges
interest
of
bonds of the 3J/4% Series due 1956 (sec offering in V.
$4,500,000 of 21/2% Serial Notes being sold to certain
234,868 shares of common stock (estimated at a total of
tTo redemption
and
A
Department, ano
be
Note—Annual
filed
ation.
$ 1,720,553
250,000
810,125
$'
income
Net
has
disposition
posed
,
378,840
Prov for Fed inc taxes
shares
at 105%, July 11, 1941, of $11,341,000 first
mortgage pipe line sinking fund bonds, 4'/2% Series due
1952 and 4l/2% Series due 1952—
Depart¬
ment
in connection
with
the
proposed retirement of its remaining
bonds outstanding in the hands of the public.
Stockholders of Silesian
Holding Co. have filed new applications in connection with the pro¬
$ 2,396,734
676,180
$ 2,247,807
677,487
$ 2,974,495,
318,851
deductions
of
follows:
as
income, $119,954; management compensation, $50,446;
Corp.—Seeks
shares
Outstanding Bonds—
Corporation
*
Income
the older of 615,332
as
company.
$20,463,350
To
$ 2,396,136
597
$ 2,245,362
2,445
$ 2,974,472
23
1,507,809
$
income—
to subscribe
now outstanding,
and has also agreed to
price, within 10 days after the expiration of the
number
Total
Total
the New York Stock Exchange
on
To redemption
and
Silesian-American
$ 8,484,469
6,088,332
6,388,270
,
for each
snare
—
1938
1939
the
banks
-v,,—
accounts
a
$13,000,000 of
152, P. 3664)
a./'
.
of
and subscriptions are payable
70 Broadway, N. Y, C.
15
Co.,
company
same
Purpose—Company
f Loss.
Balance Sheet June
the
a
l/5th
extent of
tne
Trust
equivalent to the number which shall not have been subscribed for and
purchased pursuant to the warrants issued to the other stockholders
B
common
stock
($1
par), $139,426;
paid-in and donated,
$585,267; earned surplus, $154,278; total, $1,641,043—V. 153, p. 1000,
$ 9,io2,396 ■,.$ 8,033,639
3,853,909
.
t$H7,562
of
Shares
Service
which it is entitled
stock
Common
Corp., 90 Broad St., New York, has agreed
the offering price the 123,066 shares of the stock of¬
purchase at the
—Years Ended Dec. 31—
1940
June 30/41
$ 5,361.719
rev.
t$54,285
to
to
Bank *&
admitted to dealings
Water
purchase at
fered
of
class
6 Mos. End.
"
i
t$54,738
Nil
$319,191
per
salaries,
Summary of Earnings for Stated Periods
Total
100,617
139,426
Federal
putstanding 375,000 shares.
*
83,817
Liabiiitiesr-rNotes
and deed of
compliance with the provisions thereof.
issuance of the securities offered hereby there
■*
73,363
$1,641,043.
upon
the
71,732
119,934
Feci,
.
Assets—Cash
in
banks, $276,448; notes and accounts receivable,
$411,661; inventories—(net); $370,202; property, plant, and equipment
—'(net),
$571,577;
goodwill,
$1;
prepaid
expenses,
$11,156;
total,
undet.),
rate
par)
Common
43,955
v
1314,625 shs.
500,000 shs.
par)_>__r-__
(div.
B
$27,010
28,988
requirements,
Outstanding
Authorized
.
A
■.V,- !;V
1941
bonds, 3%% Series due July 1, 1970 "Not Limited
rfd.
$58,521
31,890
_
profit
"On
Capitalization and Funded
trust
Net
financing.
Cum.
$50,516
39,746
—
company
which,
'
Cum.
$550,624
...
depreciation.2
taxes—.
for
Prov:
banks
to
the
income
charges
Hanover
Federal
234,868
-
Rignts will expire Sept.
Central
to
Gross
•
Income
co-mingled
be,
intention
debtedness
.
profit
'
since
were
$7.50)
(par
Rights were
Aug. 29.
exps._
Co,
is offering to holders of common stock of record June
subscribe at $12.50 per share for 234,868 shares of
to
stock
held.
share
Gas
Stockholders-
to
company
the
common
Transfer
Natural
Offered
1938
.
the
late
Stephen
Edward
price was $34.50 a share.—V. 153, p. 1288.
Employees'
res.
820,209
res._
309,725
prov.
Other
ContribR,
aid
800,000
A
211,525
in
of
constr.
Period
Gross*
606,675
•590,604
2,483,542
.2,260,361
..
Carolina Power Co.—Earnings-
South
>
End.
July
—
revenue
Operating
plus
-$51,412,646
-V.
Total
$49,164,360
--$51,412,646 $49,164,360
Pacific
Period
End.
Operating
Operation
Co
Power
July
Other
-Earnings—
Div.
1941—12 Mos.—1940
1941—Month—1940
31—
221,402
revenues
$
195,252
$2,196,370
$51,407,467
81,515
taxes
..
841,796
109,862
17,760
20,689
income
(net)
$
82,310
$
1,231
_____
$
preferred
on
J
stock—
Gross
income
res.
83,542
$
accruals—
—V.
■
*.
208,025
142,576
262,006
■:•
.
$
79,778
on
and
Other
69,650
long-term
Amortization
of
$
81,016
$
•
11,770
$
985,778
995,415
3
,739
$
989.303
charges
i_
,
Southern
81,107
$1,124,495
$1,061,168
55,348
$
653,024
$
32,389
$
25,760
$
$
18,103
171,438
300,034
$
11,473
$
$
company
215,650
Cr 177
69,266
$
9,624
,
960
ers
—V.
153, p. 1141.
$1.50
announced
Executive
Committee
Aug.
on
the
29
Committee with W.
with A. H. Dieboki
Chairman
elected
was
Gas
$
83.3,376
July
"revenue
$
999,164
Prov.
V.
—
of
356,988
$4,890,093
.
152,417
149,740
1,853,202
1,842,244
92,552
73,038
1.143,319
for deprec.-&
For
$4,562,726
__
842,381
.■
expenses
amort.
$
393,528
878,979
49,975
49,454
Interest
633,595
$1,259,978
per
share on the no par
the
creation of two new commit¬
E. Weiss as Chairman and a
Chairman.
Edward S. Rog¬
as
deductions
&
$
31,950
of
board
directors
and
9,676
Div.
10,840
9,275
Amort,
on
.pref.
of
$
stock
;
pref. "stock exp.
71,634
34,358
10,848
$
390,165
61,230
$
872,874
34,358
«
412,296
10,848
■
130,181
$
$
57,157
$
.725,400
'
$" 744,418
1*1
,
Balance
-V.
i53,
iu'/u—$
p.
849.
•): J.
26,428
■
i- '.j.'
$
16,024 '
.r
1
j-.
1
■
$
330,397
'$
James
Hill
1939-40,
Used
12
130,181
Sales—
sales,
used cars
Fresident
announced on Sept. 2.
of
or
cars
months.
an
reported from August
increase of
sold
dealers
1941,
19.6%.
180,496
Elliott
Mr.
stated.
used cars during the first seven
During the same period in 1940
1941 of 20.6%..
149,677 units, an increase in
sales
were
However,
excellent
at
in
record-breaking
spite
assortments
on
of
large
hand.
<
lots
and
showrooms,
Mr.
Elliott
levels
used
in
said—V;
each
sales,
car
Thousands
model used cars are available to buyers in
352,006
.
Car
,
ending July 31, Studebaker dealers' sale of
all-time high, K. B.
Elliott, Studebaker Vice
sales
cars
sales totalled
894,483
,
,
Studebaker
412,296
~
Corp.—Used
1003.
p.
1, 1940 -to July 31, 1941 were
285,006 units, compared with 239,084 sales for the same twelve months
have
60,743
an
months
income
153,
year
charge of
Used
$1,284,649
387,103
in
593,452
93,755
32,525
103,584
the
reached
in
income
President.—V.
made
was
Studebaker
1941—12 Mos.—1940
1
Gross
.3,153
,
Co.--Earnings
1941—Month—1940
31—
115,610
93,982
808
1,679-
Electric
&
Jr.
'
income.
an
Finance
*
Net
$1.
of
Sept. 30 to holders of record Sept. 19.
Thi?
paid on June 28, last; $1 paid in each of the
payable
with
Sterling Products, Inc.—New Committees-
387,088
171,438
14,238
14,286
stock,
dividend
a
674,080
471,472
V,,r;
Indiana
End.
Operating
Net
____
85,706
declared
have
three preceding quarters,
75 cents paid on June 29, 1940; 50 cents r
paid on March 30,
1940, and on Dec. 30,
1939; and previously
regular quarterly dividends of 25 cents per share were distributed. ■
—V. 153, p. 1289.
;w'>; v; \r';:"'v
375,000
120,175
155,927
prem.
discount
income
$
8,125
dcbt__
debt
387,700
200,183
3,525
1,258
13,891
income
Gross
738,063
31,250
153, p. 849V
Gross
Inter,
49,464
Dividend-
Starrett Co.—$1
compares
tees,
Balance
Taxes
Retirement
1,798,207
577,032
53,317 :
_
i.-"—
2,079,996
com.
111,640
25,573
income
Period
Utiiitv oper.
Other income
149,229
S.)
Directors
$3,811,407
37,600
——
deductions
$4,330,254
746,556
8,143
20,590
income
taxes
68,881
9,403
deprec.
income
Gross
Interest
Maintenance
Federal
for
Provision
■'*; Net
Sierra
311,051
$
-t
58,580
_
1287.
153, p.
364,538
182,652
expenses
Earned sur.
(L.
1941—12 Mos.—1940
1941—Month—1940
31—
of
the past
of
dealers
still
desirable
lato
Studebaker dealers' used
153,
p.
1003.
♦
car
60
FINANCIAL CHRONICLE
Sundstrand Machine
Directors
stock,
have
payable
with
pares
of 50
75
1940,
being the
share
paid
and 50
first
per
was
to
paid
cents
of
holders
share on the common
Sept. 10.
This com¬
March 20, last; dividend
20
and
$1
paid
June
20
March
and
20
Dec.
on
and on
,
have
declared
Proposed
.
of
dividend
a
$2
Sept.
idends
of
$1
paid on Sept. 30
and June 30,
1939.—V. 153, p.
1004.
stockholders
Since
A
total of
for
$100,000 314%
debenture due April 1,
& Co.—Suspended
change—
'
255.
on Oct.
1 at par and accrued interest.
Payment will
Dillon, Read & Co., 28 Nassau St., N. Y. City.—V. 153, p.
at
/
-
,
.
,
The
series
Co.—Earnings—
end.
July 31—
Revenue _$
Operating
439,110
Operating revenues._$
Mamtenance
income
Retirem't
Interest
$
5,526,280
24,185
274,150
(no
27,500
726,447
285,876
42,063
35,092
467,466
439,608
132,595
147,743
1,943,252
'$ 1,917,305
398
71
3,3o9
3,066
132,993
147,814
35,833
_$
3—$
35,833
637
acc'ls.j.
res.
—
Net
i
income
_$
93,480
Surplus—beginning
Miscellaneous
credits
to
$ ;
$
Common
1,946,611
politan
1,505,242
$
notes
$
2,083,484
its
in
..$
3,671,212
1,141,704
-V.,
153,. p. .1143.,
„•
;
...
„___$
;
$
of
Prudential
original
issued
Gas
issue
in
corporation
Only—'
1
This
'
;■
just
The
are
national
Tne
defense
purposes.
listed
company
must
10
'
for
purposes
"
closed
output
and
Week
future
purpose.—V.
153,
;'
1289.
p.
,
the
tne
G
I
system
the
30,
1941,
for
be
for
public
hearing
will
company
consider
accom¬
used
The
the
planes
be
must
Northern
of
ing
selling
bonds:, reoixered
arrangement
late
all
placed.
Tnese
years ago.—V. 153;
July
were
last,
part
with
has
of
to $3,500,000
terminated arid- the
ben
$7,000,000
originally
1143.
p.
The
Oil
(par
•
•
' :
.
.
Antonio, Tex.), has registered
2-4824),
119,894
shares
of
,
,
(3)
'
with
total
registered
118,907
shares
the
SEC
to
be
of
stock
common
are
27,
1941/
'/'
'
Texas Electric Ry.
Directors
tue
on
have
Iiiquidatiing
were
stock,
a
liquidating
payable
dividends
No.
1
Aug.
and
dividend
9
to
No.
of
holders
$1.01
of
V//'
tne
Roller Bearing Co.end.
moj.
2
Net
profit
Federal
after
taxes,
Earnings per
v!
—
id 3,
etc.
sa.
Income
Ovher
$1.»2
30—.
opera-runs
A
$
—.—.
adjustments
and
losses'
9
Total
————.—,
surplus
for
idd,xl8
14^,444
$
reduce
Assets—
$
Net
1940,
1,
and
152,
for
7,395,400
$
end.
&
.
.$
$
Balance
Net
sugar
Sheet
6,924,301
;
■
3,040,738
$
4,009,977
Notes
1,623,070
Pref.
Res.
pay.
§100,000
1941.
.
4,398,668
&
a~ct.
-
less
rec.,
3,839,667
S.
Other
sec.
iur
l
r";
511,197
i
"
•
Inv.
14,183,811
(net)
.
to
(net)
and
the
stock
oil
been
of
of
and
the
p;
/
l
-
:
;
'
»'
"
'
Total
of
Canadian
■
advs.
13,439
28,918
;
' *
I
f
Contingency
subsidiary ' (Included
•
'
June
for
$
813,931
and
Notes
other
In
'con¬
230,925
260,140
facilities
Plywood
26,624
4,611,641-
Def.
assets
Cap.
_
5,303
Total -^.$10,641,703
"
tend
provide
'•
-
"
_
180,558 $
_
stock_
surp.
to
I;
expand
is
as
taxes
on
new
and
now
our
witn
our
Lie
129,114
201,164
.$0.98
$0.64
.
<•
'
.
"
demuse
and
York
7;
■
cen.idtred
staff
New
equipment
will
be
involved
equipment
unless
in
are
separately
•
projects.
under
gets
will
7-777
;;
,
We
the
pro¬
grad¬
risk
72%
.7
1
con-,
financed
however;
are,
area,
establishing
additional chemical
tne personnel of wnich will be
has been able to reduce
prices on
its
p.
profits because
1144.
Paper
June
Factories,
Inc.—Earnings—
30—
j
'
,
1941
$7,099,329
goods
sold—,
profit
J—
miscellaneous
$6,392,223
—5,771,772
wallpaper sales
on
1940
^
sales,/
'
-
5,099,128
$1,327,557
$1,293,095
!
4,710
v
and
administrative
$1,332,267
V
expensesf./ -,
2,797
.
545,600
_/_7.. /:/•
Gross Income
Federal
tax—
income
Dividends
Earnings
on
per
common
share
**
1.
1941
<
.
735,300
1,511,336
1,511,336
3,739,194
2,252.499
Assets—Cash
and
12.UJ8
and
accounts
$1,095,044;
$542,515;
on
total
hand
and
a.rn
in
earned
loaps
common,
surplus
banks
advances
ei.ijjnid.it
payable
245,055
3,200
<
$320,265
in
-
amount
nV
.
1.941
r
.
$856,281;
notes,
;
stock
(uct)
$/TJy,238;
:
■''
accrued
($2: par)
totai
:'/i
acceptances*
merchandise
inventories
$118,183; other assets $252 289deierred
'
accounts
cnarees
cnarges
$153 810*»
(payable ^'itaiie'^ne year.)$192,000:' lone
$529,456;
42,000
$0.23
the
■
$305,500;
b2nI7loa?3 $808,000;,. 6% .cupa,/
$700,000;
•-
$0.24
expenses
(net)'* $1,007,103;
and
$6,059,652.
Long term- bani
and
$113,927 in 1940.
receivable
Liabilities—Accounts
$9,529,501v:
cost
Balance Sheet June
30,
investments
yiauc.-
In
$568,520
42,000
"
u—
.Note—Depreciation is included
•'
64,593,
$325,974
prior preferred stocfcr7/_^_.
of $121,869 in
3,665,516
182,005
83,632
income
$386,514
87,531
charges
for
909,377
:
-
L
7——17.——I— __i -.- -$474,199 "
,
39,500
69,117
t
j'" $386,668
credits
370,581
227,754
$1,295,892
'
9,191
Depreciation' 'reserve deducted ; In ' determining net amount of
buildings; machinery and equipment as above; $3,608,807 in 1941 and
f Represented by shares'of $1 par."
$3,264,667 in 1940/
Wall
general,
Income
j-
Total 1—$10,641,703
$1,891,824
~
production
improved
additional
or
be
donnite
researcn
E.ided
of
V,
•
1940
upper earnings brackets
be
tempered by tne
plants
w.Il
.none
tnat -txiis
expco.ed
139,245
2,151,541-
$9,529,501
pro¬
small
very
including income
and
excess-profits
taxes.
on ponding legislation.
,777'7
sales
Cost
Net
2,890,308
in¬
249,892
149,813
735,300
The
a
1941
;
131,821
171,839
to
as
Pnesidont, states: "As will be noted from
the company has sharply increased its
figures,
connection
Net
381,902
43,438
to
Agriculture
cased
detente.
important
Selling,
293,062
quantities;
of
but
7/
furtner' expansion must
comparatively small gain..
Provision
.
f
Corp.—Earnings—
i
9,191
-
give
3831.
p.
,
are
Lince
Profit on
for
surp.
Earned
2,429,874
-
will
1940
°
452,127
pay
stock
tCom.
equip.
(net)
for
Years
for
for cont.
Pref.
mach
<&
will
152,
stocx
Ottinjer,
quarter
United
36,515
.
■
taxes
grow.- crops
Res.
32,385 i
4,625,377
•BIdg.,
I
of
needs."—V.
cnarjes
taxes
621,688
296,933
pay.
7
.,,-
100,000
,
$
stock
divs.
invs.,
Land
substantial
Department
shortly.
Vue company
many cu its..important,products, and' still
increase
of tne large additional volume of
business.—V.
Tl7l25
164,343
.
which
requirements so
agricultural produce.
share
all
1941-
enlarging
..
_
tne
July 31—
common
per
Other income
etc
Mtges. pay.
etc;
of
laboratories1 in
" tax.,
Reservv
advs.
import
we
class
mure,
in
'-762,813
$
accts.
Pref.
to
1
completed
—112,015
tempiation,. and
51,119
*
year__$
Fed.
875,558
.
experi¬
244,116
Lawrence
2,409,ul>3
within
Int.,
said:
and
conservation
—
A.ter
ually
30
1941
pay;
P r 0 v
154,028
.
Dev.
Corp & sub
____14,18J,811 12,883,118
'
36,621" "
pay
&
Other
.
t
*
200, Q00
798,841
Rlty,
.
ri"
1738.
•
or
110,277
/
Clewiston
•
...
7'
1,109,119
were
conditions
this
nation's
Ended
Earnings
3,223,434
64,474'
due
67,806
1,150,899
.
Bitting
Lemon-gra3S
axniounced
Sheet
"/
diversification
research
profit
"No
1,173,592
,
$;
Notes
760,829
251,031
crops
,
and
160,000
fats,
soil
of
States
sales
Gross
Acer.
supp.
in
conducting
facilities,
feed.
existing
certain
production
S.u*re.i
1938
$
3,51u,061
Liabilities
580,379
"
&
-
Balance
1940
recent' harvest,
ready to proceed with the annual oroductlon of
40,000,000 pounds of sweet potato starch,
one
of
the
relieving
Mos.
•Net
$0.39
64,637
Mat.
invs.
the
tiime.
expansion
$2,500,000, Mr.
of
have
we
production
plantings
first
one
Grow'g
*
during
one
for
program
expenditures
vegetable
duction
$0.50
&
by-products
which,
.
in
posed
2.
$0.54
sub.
—
.
.
now
modified
portion
reclassified.
Curr.
3,655,947
12,883,118
assets
Jan.
on
$0.67
1,456,418-
470,869
1,245,105
wholly owned English companies^—at nomlnial value,
151,
has
600,405
381,356 $
bankers
the financing, as outlined, " should
the short-term borrowing of the corp-j
time -to
carry
costs
of
harvesting,
upon
dehydration
of
of
assist
4.
150,575
been
would
be
7' \7
Corporation's
,
on
150,324
1941"
1.125,964
by 1,680,000 no par shares,
t After reserves for de¬
including
special
reserve
of
$4,23.1,095
in
1341
and
in 1940i
t After deducting treasury shares.
§ Investments
reserve-for' net
paid
Aug.
paid
376,231
have
3,09i>,055
130.9^8'
»
solidation.—V.
brokers,
the
in
are
Net
30,765
_
etc.,
expenses,
from
types of
root-starches.
Root-starches
are
Important In the
textile
and
other
industries;
we
annually
consume
upwards
of
400,000,000 pounds of this type Starch and produce but
10% of our
needs; the existing maritime conditions have
seriously affected sucfi
Importation, and the proposed facilities in the.
Everglades will ease
^the.. situation
by about 10% of the nation's nofmal needs.
In the
on
843,680
—
items
3
-crops <
Represented
pression,
$4 ,639,625
fn
888,7cO
143,919
share
per
36,755
divs.
stock
*
ibl,49d
'
Total
"We
United
per share on
—
dist.
I
'
'
—
received
and
1,050,805
In vs. & ad vs.
•
1,072,141
chgs.
f
$4
4,688,653
70,772
.
of
:
153,
above
130,000
•„
2,329,866
•
1,251,286
—drain
_
1,605,678
339,273
Cash
Def.
payment
153,
divs.
Certain
Receiv.
825,927
for
„
•$I
1,294,891 1 $
43,O05
$
'
is
meeting witn ready acceptance and to increase the
market, we have conducted dry-lot feeding demonstrations
the finish-feeding of over 600 steers lor-oeef.
upwards
was
V.
440,000
aoseto_
'
$
1,552,215
Comparative
3,092,419
-
feed
involving
s
Res.-for taxes
•
2,829,628
_
of
was
2,851,757 •
8J,177
71,410
Assets
Govt.
securities
1,051,331
'
250,000
-_-__-„____-i»--_--7_$2,500,000
time
on
pounds
potential
prin¬
Co.,
see
1939
*
1
stock
Cash
7,000,000
&
.
"
2,134,760
reserves
U.
;
s
fSurplus_
—
$0
3,831,552
""'
—*
outstanding at any
years
and
motion.
sold
l 'o
1940
7,0jJ,000
,
r
the
Marine
Fed.
common
for.
rea've.
93,719
•
of
disposal
Lie
this
The
7 7
30
exp.
for
exchange
29,643
ma-
.
of
197,834
Earnings
$1.82
Contingency
29,643
terials, sup
plies, etc.
June
accr.-
—
inv.-
of
Inv.
structure,
1940
•
(net)
taxes
$
•German
Sundry
dissolution
Shares Inc.—23-
dividend
*$ 4,146,648
Interest1'/—
•
Liabilities—
of
assets
*
-
7>
capital
5,489,054
.$
Catastropue
■//
Accts.
suosidiary.,
and
2,443,455
4,259,085
•Common stk.
3,138,778
_
connection
7
/■
Mercantile
dividend
waste
pounds lemon-grass oil and
oil is extensively used
cosmetic,
perxumery
and
otner
industries
and
with
the
exception
of
Everglades
production,
the
country
is
entirely
de¬
pendent
upon
imports
from
foreign countries
which
have
been
seriously curtailed during tne past year.
Tne stock
feed
is
pro¬
duced by dehydrating txie
spent grass and adding blackstrap molasses;
oi"
.$
ox
250,000
and
facilities
marketing,
annual
an
in
Corp.—Earnings-
30—1941
2,954,203
$
v
/
&
equip.
from
many
work
20,000,000
The
.$
•470,8S9
2,603,352
—
Juno
pruce^do—sale
Frov. / for
529,963
j._;
1940 "
/
$
macii y
Its
800,000
——
facilities
paper
efiects
and
best
liquidating
liquidating
t
in
foreign assets.
estate
Luildings,
us
Co.—Liquidating Dividend—
a
100,000
300,000
meal
commenting
tillation
detri¬
1299.
p.
sugar
3,9oO,Q32
.
—u—___—$2.08
——
1941
'
declared
Balance, surplus -—$
reserve
v'
be
Recapitalization Plan Apof
regular
be given.
'
notice will
laboratory
assurances
adverse
3
Lumber
1,'J3V,*JJ4
values
b"
.:
con¬
consumers.
in
expenses
Power
International
tne
/—-~--2
3,385,423
.$
investments
1941 —
30,
Consolidated
fReal
and
reasonable.
4,000,213
o4:,0U3
outstanding1,628,970'
share
Co.
simplification
of
have
Common stock
per
the
United States Sugar
4w,l)u7
4,009,977
_—
•Contingency
Lines
States
1940.—V.
$ 4,142,357
„
;
to
necessary
Earned
and
lair
new
incorp¬
special
connection with crops new to the general
area, with
emphasis on products nut produced in this country,-, or
produced in sufficient quantity to meet consumer demand.
I
can
uest illustrate our aims
by wnat is already accomplished.
For
several years we have conducted
semi-commercial operations in the
production of
lemon-grass; recently plantings, together with dis¬
$ 3,9o8,u72
r,c8 7
"J,Uw4
5,339,908
.$
shares
fair
a
company's stook, puyaule Sept. 2,
to holders of record
Dividend oi 35 was puul on March
15, last; 50 cents was
1940
2±,_8J
i
—,r„
at June
are
1941, regarding the liquidation
and Power Co.—V. 153, p. 1006.
suosidiary
July
1,303,982
taxes
English subsidiaries to nominal
Diviuends paid
Common
sale
of
nut
follow¬
have
Directors
'
Surplus
the
fair price to the
the
:
.
5,331,193
_
income
Amount
to
represents
represents a
commissions
due
pref¬
par)
proposed
follows:
as
foregoing
made
"For
the
States
United
.'
;
fees,
yx.42
5,2^6,^45
——
taxes.
smpius
the
(no
the
certificate
800,000
upon-
mental
u.
securities i
$
Net
2Q,
plan
Cost
Previous
hearing
price
and
of
of
may
be necessary to call a
be held prior to the date of
by-product distillation,
involving .capital
.
.V77-V'/
(rlsv).w--—r.-"
pro.ics
offering
stock
sale
particular
the
approved by stockaolders sept. 2.
(For further details
p.
852)
and under International Mercantile Marine Co.
in V. 153, p. 839).—V. 153, p. 852.
///■'///
1941
-
,
$
Exceos
estimated
proceeds,
after
working capital.
no
crease
Years
Income
the
proposed financ¬
$100 per share, all
at
Program for Expansion and Diversification—/
*7
at
the
such
dividend
facilities
commercial
In
proved—
$ 3,422,370
'
Subs.)—Earnings—
from marketable
Exchange
Dis¬
on
proposed
transaction generally
will
public interest and the interest of investors or
Light
United
i"1/-'
$s.07
.''
(&
ended June
ilWolue
directed
proposed
of
before
,
be
cumulative
plant
and
the
to
oration
declared a dividend of 23 cents
per share on the
stock, payable Sept. 2.
Dividends of 22 cents was paid on
June 2 last, and a dividend of 24 cents was
paid on March 1, last.
—V. 151, p. 865.
4.
1939
is
agricultural
processing
A
share
per
4,993,543
/:
'
rrorn
Income
stock
$
'//■-'
>'
years
and
field
Aug,
1940
$ 4,653,535
•
cap.
on
Torrington Co.
For
Hearing
'
is considering the
preferred stock and a
Corporation
special meeting
depreciation,
851.
p.
'•
1941
of
have
-./7 7-/:
•'
the
proposed
Directors
class
-Earnings—
30—
June
a.(.
are
proceeding
States Electric Light &
Cent Dividend—
0
/
oil
Based
8—
Co\
will
sale of
WheJier
March
cipal
6
/:»7
United
share
per
record
totaling $5.35
152, p. 439.
/./'"
paid on march 10, last.—V.
Timken
year
Co.—Liquidating Dividend—
declared
common
"
which
control
treatment,
added
•
application
the
Whetner
United
offered
to-the public at $2,375 per share; remaining 934 snares constitute
issued by company July 1, 1941 as a dividend.
Willard York
Co.,, San Antonio, Tex., named as underwriter, has agreed to pur¬
chase 44,750 shares at $1.75 per share and
77,157 shares at $2 per
siiure
.ruin
company.
Proceeds will be used to pay indebtedness
($200,000)
and remaining $26,626 will be added to working capital
Aug.
to
of
power
Additional
proposed sale is otherwise in accordance with
appllcaD.e provisions of the Holding Company Act and is consistent
with *..e carryi ,g out of the requirements in tne
Commission's order
shares
filed
last
in
retained
facilities
the
•
with
statement
Of. the
$n)..'
Water
kwh, Same Week
13,373,301 kwh or 14.8%.
of
of
77' 7,
,
week
Improvement
out
the
amendments
stockholders
the
and
Vegetable
103,723,586
Co.—Public
reconvened
a
require
it
Starch ,extraction
questions:
tne
Whether
mental to one
two
Corp.—Registers With SEC—
(San
company
<registration
Enlarge
pur¬
7/777.v/-'.'* ;.7'7, /"/7.7-- 7;:/77,/i7/777/,'/
(2)
bonds
marketed
and
Whether
public.
3%%
respect
(1)
(4)
Texamerica
7,7'/'.,,
companies for the week
same
for
program
regarding the dissolution of
the SEC on Sept. 8,
1941 to
regarding the sale by Tne United
subsidiary, of its 355,250 shares of common stock
be
attention
matters
;
the
Natural 'Gas
sideration for
■///;//,'•<
in
amended
an
Light and Rys Co.
the
.
Terminal Railroad Association of St.
Louis—Selling ArTangement Ended—Bonds All Placed— ; :
dealer
Power
&
$5
Balance- of
for
August
shares
purpose
outlined
Research
indebtedness
Co.—Weekly Output—
U
figures
mentioned,
consummation
which
meeting,
already
of
stock.
common
funds
and
Subject to existing uncertainties relative to costs and prices, which
may
affect
the
estimates,
the
capital
investment
necessary
to
provide
facilities
for
the
expansion
and
diversification
41/2%
the
The
of
re¬
and
•'
funds
stock- would
for
annual
no mortgage on
stock.
Capitali¬
has
preferred
of
,
for
ending
Light
Particular
The
other
no
Co.
of
with
connection
or
solution To Reconvene Sept.
/
orders
conuned* asserting that - every new order
by a notarized affidavit that .the snip will
approved
United
'
.
which
be
panied
Insurance
may
the
stock.
meeting
from
years.
outstanding
oration,
////./.''/
v
»•;
few
preferred
Metro¬
the
obtained
contemplated expan¬
requires substantial funds in excess
be expected to be provided from earnings during
aggregated $2,675,000
the
company,
by
$4,600,000
corporation
bonds
no
Year, 90,350,285 kwh, an increase
v.. 153, p.- 1290.
/;/: ;.'/, ,;7 77";,,
country's second largest producer of light air¬
planes, has informed its distributors and dealers that effective Sept.
1, los entire production will be concentrated on planes for specific
,
of
has
1,272,437 shares
Improvement
electric
follows:
Taylorcraft Aviation Corp.—To Produce Defense Planes
'
which
provide
erred
;
."7
the
solely of
1003.
p.
amounts
t.
of
tnere
and
The
the
liabilities.
current
equal
notes
,.
consists
153,
and
In
Last
;
7 7
funds
of 150,000 shares of new
($25 par)
$1,000,000 long-term loan.
To make possible
ing, it may be necessary to call and redeem,
.
2,157,663
:
:.•>
,
.
$19,750
taken
Co.,
timberlands,
United
1,338,949
2,459,508
and
next
Sum
70,000
/
_______
7.'-7'v
;
the
issuance
1290.
p.
$ 3,566,613
70,000
been
purchased
...
for
properties
—V.
have
Insurance
1939.
of
zation
8,307
period
nothing.—V. 153,
•.
which
Except
chase
1,483,129
2,157,633
7'."■
notes
Life
outside
$
surplus
of
will receive
and
provide necessary
diversification' program
those
To
,.
7,241
i_
surplus—end
Vk%—
new
The
Earned
stock (no par), and series "B" preferred
been suspended from dealings on the New York
Under the provisions of the trustee's amended plan
stockholders
exception of the sale of 100,000 shares
cash
Drainage
District,
the
improvement
the acquisition of land for tlocking-up
facilities,
preferred
.
430,000
11,339
_$
n_
at
■
The
1,920,371
$
430,000
111,344
dividends
of
have
Exchange.
America
$
of period
;
Total surplus
Pre-'frr-)d -H"Wend3.
sion
'The? corporation
has
completed
arrangements
to
refinance
its
outstanding 4J/a'h promissory notes by the issuance of $4,600,000 new
27/a %
serial notes, with An extension of one year in the final ma¬
turity date to Jan. 1, 1952, Alexander Calder, President, announced
Sept. 3.
.
■■ .■..
■
",.7
"•
■: '
.
Earned
par),
reorganization,
•
292,181
__
Ex¬
Union Bag & Paper Corp.—Refinances $4,600,000 Notes
$ 4,906,935
&
inc.
oper.
Curb
on
of
To
presently
$ 4,906,935
25,305
L—.
income—net
Gross
403,252
5,526,280
78,882
inc.
—
Utility
Other
$
403,252
469,110
profits
liner
$
Dealings
"
;
with the
$375,000
Sugarland
consolidating
cane-plantings,
and
the
substantial
working capital position, have all been financed
,
1941—12 mos.—1940
679
Taxes—Fed.
excess
ox
1941—Month—1940
"A''
.
Curb
Per.
From
for
of
betterment
the
stock
Tampa Electric
stock
financing
earnings.
Ulen
1956 has been called
redemption
made
states:
organization,
common
Superior Oil Co.—Bonds Called—
be
Financing—May Issue $3,750,000 New ;Ref.
R. Bitting, President in his report to
Stock—Clarence
per
mon
20, 1940, this latter
1937, when 25 cents
dividend
paid since Dec. 28,
distributed.—V, 152, p. 2085.
Directors
share on the com¬
stock, payable Sept. 10 to holders of record Sept. 5.
Like
amount
paid on June 10, last, and compares with $2.25 paid on
March
12, last, and on Dec. 10, 1940; $2 paid on Sept. 10 and
June 10,
1940; $1.75 paid on March 11, 1940; an extra dividend of
$1.25 per share in addition to a dividend of $1.50 per share paid
on
Dec. 20,
1939, and extras of 50 cents in addition to regular div¬
per
record
June
28,
on
$1
of
1940;
on
Dec.
on
Time, Inc.—Common Dividend—
Co.—$1 Dividend—
dividend
a
20
cents
cents
20
Tool
declared
Sept.
Saturday, September 6, 1941
term
prior preference, stock ($100 nari
$2,376,180;..capital surplus $994 666-
$6,059,652.—V.
1.3,
p
1006
.
,bb8'
1
Volume 154
Utah Power
FINANCIAL CHRONICLE
'Number 3977
Washington
Light Co.—Earnings-
&
Per.
End.
Per.
.
Operating
Oper.
July 31—
1,193,362 $14,762,237 $14,089,378
Prop! retire,
479,747
6,323,173
6,324,911
Direct
taxes
254,461
216,791
2,591,948
2,253,319
Prop,
retirement
approp.
99,309
91,000
1,141,855
1,092,000
402,485
__$
revenues
oper.
938
•
debenture
bonds
mtge.
int.
$ 4,423,507
406,762 $
4,709,467
189,028
2,268,330
25,000
300,000
^
bonds
25,000
deductions '
&
Int.. charged
Net
to
*
14,321
15,002
/
construe.
income
$v
______
181,431
Cr8,146
«
1,704,761
$ 3,148,520
first
1,670
37,030
$
taxes
242,667
$ 3,185,550
30%
1,816
263,091
def$35,987
64,167
64,167
15,840
$
17,995
34,640
CIT.506
160,505
$ 2,216,453
$ 3,148,726
622,518
622,518
income
$
is
being
at
1941'.
for the full year
■
y
Includes
1,593,935
$
profits tax since
that no such tax will be payable.
...
-
No provision has been made for Federal excess
Dividend—
Accumulated
!
have' declared
Directors
»"•.Y
dividend of $1.75
a
share
per
the
on
for
Federal
at
the
the
12
income
rate
a
rate
der the company harne in our "General
of
which
30%
months
taxes
will
for
ended
subsequent
result
full
the
in
the
clared/
;
/
9
to
April
1,
V
accumulation
Selling,
~""f' ■■■'.
•: "
Vy
• **t '■
Utilities Eikhorn Coal Co.—Inter-Company Stock Sale—
,
The Utilities'Eikhorn Coal Co., a
!! '
general
and $62,742 Is to cover ad¬
vances previously made by Ogden and its predecessory estate of Util¬
ities Power & Light Corp.—-V> 149/ p/.3127.--,
,*■>■:
L
Life
r
and
administrative
■
«-
.
..
..
..w.
Americah
'
'
.1940
309,774
Pay'ble
of Rec.
$1
10-
1
10-
1
10-
1
Snuff Co.,
American
i
$2'/2
Co."
for
Federal
Net
profit
for
income
Income
6%
preferred
American
9-30
30c
•
'
;
period
dividends
dividends
tEarnings per
(quar.)1
25c
>
____,
9-10
1
9-15
10-
1
9-15
$l'/a.
10-
24,247
;":$0.36
_—'
1
9-13
1
9-11;
10-
1
9-11
Works
&
Elec.
CQ., Inc.* *"
'
$1%
*
s
Gas
Atlannc
10-
1
9-30
10-
Light Co.,
6%
(quar.)*
pref.
9-12
'
125C"
$1 '/a
—
9-15
1
9-
.
1,
10-
(quar.)
Company,
1
9-15
: 9-15
6%
t$1.60
pref.
8-20
'•*
10- 1
v, 75c
(qUar.)
;25c
10- I
'(quar.)
Bankers Trust Cp. (N. Y.)* (quar.) —' :50c
,10- 1
Batavia Body (irreg.)
8-15
;
20c
J
40C
10- 1*
Bastian-Blessing Co., com.'
^
-10- 1
$5.50 preferred
•$! %
(quar.)
25c 1
Beatrice Creamery CO., com. (quar.)
10- 1
10- 1
nvt
; $5 preferred, (quar.)
Beneficial Industrial Loan "Corp." "(Dei;)'"~-ZZ~Z~
40c'
Commbn >.____L-—' :
9-30
Autocar
Company, $3 pref."
Automobile
*
Insurance
Co.
9-18,
;
9-
6,
9-15
1
;
,
$0.10
'
-
t On 41Q.016 shares of com¬
a-
i
-
9-15
9-15
■"*
'
par
preferred
'(q'U.J
com,
'
25,394
*
9-19
1010-
MVz'l
iv..U
Atlanta
$65,391
*
-*'>.; 82,003
share
stock, $1.25
12,121
$1.72,156
1
25C
75C
*-
_(qudr.)
com.
10-15
10-
_
(quar.)
Water
pa
■:,7%
-..14,998
_i—______
\ "Includes excess profits tax of $37,326.
mon
3,755
9-19
5
tioc
As^ociuucu Breweries 6f Can. Ltd.
$92,509
*104,055
taxes——
6
9-
10c
(N. Y.)
"
..,V'
6
9-15
*
.
$279,964
9-
9-
9-20
'
corp.
Capcial
261,444
4
Holder*
•
Ins.
-
i: J
.'
When
30c
_____—_
Agricultural Chemical Co. (Del.) V
American Alliancfc
3,107,817
expenses
'
.v
V
income
deductions, less other
Common
■
•' :
8%
(quar.)
Ahlberg Bearing Co. class A (quar.)
Alexander & Baldwin
(irreg.)
.
1941
^
:
are:
S/iare
> ;1'
(qu.)
. ,
(Hartford)
Co.
Insurance
preferred
American Express Co.
(quar.).
American Optical Co. (qukr.)
3,647,307
Preferred
advances rnade by Ogden Corp.
V"
Name of Company *" '
,
Casualty & Sur. Co.
Aetna
$4,237,0.47^;* $3,461^70
wholly-Owhed non-utility subsidiary
Ogden Corp., nn Aug. 25 -was granted permission by the Securities
and Exchange Commission to Issue and sell to Ogden Corp. $325,742 of
unsecured three-year 5% promissory notes.
Of the total, $263,000
cover
31—
operating
Other
of
Is to
Co.—Earnings—
July
V
Net
.
Provision
'
Ended
Cost of goods sold
->r'■'
■'■;■
."■
>>:
The dividends announced this week
Aetna
July
Net. sales.:
c
-
Months
Corporation and
2,526,208
1941,
year
table in
Department" ip the week when de¬
$3
Wentworth Mfg.
$7
pref. stock, and a dividend of $1.50 per share on the $6 cum.
stock, both payable on account of accumulations on Oct. 1 to
holders of record'Sept. 2." Like amounts were paid on July 1, April 1,
Jan. 2, last and Oct. 1, 1940.—V.'153, p. 707.
,
;
cum.
pref,
second
a
Further details and record
American
present indications are
with
previously announced, but
Investment News
31;
1941,
provision of
$7,353 for Federal excess profits tax applicable prior to Jan. 1, 1941,
but includes
no
subsequent provision for such tax since no excess
profits are indicated.—V.'153, p. 852.
:• i.;W;
;V :
\
V
,
in
$
—
follow
we
Per
made
taxes
such
$
_____—
Notes—Provision
1941,
49,662
Tnen
show L*e dividends
of past dividend payments in many cases are given un¬
115,363
taxes,
income
In the
which have not yet been paid.
4,032,583
770.000
••
con.
week.
we
3,997,943
cr5,080
deduc._
to
Balance
i
subsequent to April
rate which will result in the accumulation
of
rate
the
at
a
129,669
(net)
&
grouped in two separate tables.
bring together all the dividends announced the
we
current
1,111,358
$
770,000
Net
1,704,761
$
for Federal
Provision
1, 1941, is being made at
(2)
1,038,739
240,997
204,177
int.
charged
Divs.
of
such
92,434
$
applicable to pref. stock for the period
Int.
1,967,852 $ 1,668,774
178,413 $
$
173,888
__
Notes—(1)
of
91,158
127,853
mtge. bonds..-
on
Other
2,271,050
300,000
183,683
.
*
aplic. to preferred stocks for the period-,
Balance
'•
1,861,454
are
4,267,844
2,314,480
$
income
,..4,359
402,918
$
Int.
'
4,821,433
188,051
whiCii
Int.
Divs.
430,921
192,095
$
4,806
189,028
income
on
Other
560,460
405,824 $ 4,704,661 $ 4,419,148
$
433
'
(net)
Interest
on
$11,238,599
re¬
600
150
:_■-
income
Gross
DIVIDENDS
1941—12 mos.—1940
$*1,383,172
limited-term
Other
Net
,,
Subs.)—Earnings-
Dividends
„j._—.
—
(&
952,403
>
appropriations
serve
Co.
1941—Month—1940
expen.'exfiluddirect taxes
474,563
res.
Power
31—
■$
__
investments
Other
Water
July
l'dvcuueo
—,—-r—
expenses
of
ended
Oper.
Oper-.
>
ing
deductions:
rev;
taxes
Amortiz.
1,230,968 $
$
revenues
Operating
Direct
' 1941—12 mos.—1940
1941—mo.—1940
61
9-12T
•
Years
Hps
Ended
30—
June
V
1941
i
tllow*
less returns
SubsJ-
<&
Co.
* **
";
*
^ >>*1938
>1939
1940
>' ' *
~f
V
Assets---Cu(rrent
5
$1,854,247.
$8,986,833
;■ anoes & discounts.„.$12,834,759 $11,405,384 $10,810,066
assets
$1,525,802;
Real
1041
>
estate
mortgage receivable
$8,000; Property not used in conduct of business $104,640; fixed assets
deferred
$190,292;
charges and
prepaid
expenses
$25,514;
total
*
-
Balance Sheet July 31,
;
,
Vick Chemical
>
;
j;: r':'
;•
■. *: '
$2.50 prior pref. series 1938
Bishop.Oil Co. (quar.)
r
•
Biiss
Liabilities—Accounts payable—(trade) $25,214; dividend payable oh
preferred stock $8,063; accrued taxes and expenses $218,451;
con¬
vertible preferred stock $441,247; common stock ($1.25
par) $512,520;
ing,
.,■
goods sold, sell-;
advertising
and ^
.
6,436,073
7^502,079
7,480,655
$3,903,305
52,651_ 145,018
J administrative
$3,329,411
,$2,550,760
J.153,570
142,951
'8,765,990
exps...
Paid-in surplus $26,582;
earned surplus $626,951; cost of 434 shares of
purchased and In treasury Dr.$4,783; total $1,854,247.
preferred stock
!
Profit
Other
Total
t
Prov.
for
Fed.,
foreign
tributed
Prov.
for
certain
! tries
Miscell.
Net
Income
4
*'••
Preferred
•I,
Total
taxes-'(net).
surplus
Goodwill
profits tax
excess
(est.)
-
133,6*9
Cannon
-
$237,987
43,750
43,750
Celanese
*
Earned
$2,248,138
4,021,669
3,432,743
Price restriction
7V
24,043
—
removed
.
$5,680,881
1,680,459
that
1,659,211
Consolidated
Sheet
2,230,584
208,000
Directors
33,000
134,976
■■■■;:,
3,945,225
5,796,790
'
s t
1,030,950
576,451
160,668
15,957
Fed.,
t e:
&
3,303
2,656,325
4,703
Inventories..
.
&
for pos.
of as-
on
Aug.
27.
It
/■
Crown
^iyy-vv.;
2,062,264
stk
Cap.
Land
Earned
tTreas.
July 1,
-<>}■;,
700,000
sur._
3,501,400
1,752,648
1,752,648
6,643,312
5.867,341
July—
■■■•
from
Gross
Net
stk._Dr871,574 Dr477,071
from
ry.
25,111
charges.
72,192
1
159,882
railway
9,838,855
8,272,811
7,059,055
1,943,844
520,318
*
1941
reserve
in
by
153,
t After
1940."
(10,900
shares
20.200
852.
p.
Total
accounts
'
•
.—13,320,655 12,309,731
and
reserve
shares
..."
discounts
of
for depreciation,
1940)
acquired
Directors
The
V
Works—35-Cent
Chemical
directors
have
declared
a
dividend of
stock, payable Sept. 30 to
This compares with 30 cents paid on June
45 cents paid on Dec. 27, 1940; 35 cents on
June 30 and March 30, 1940 and 65 cents
$5
par
153,
p.
common
707.
•
Cab
the
8%
a
(at cost).—
of
10.
$1
class
-
per
A
Like
-
share
stock,
account
$50,
amounts paid in
of
payable
f ;
;;
^
I,:
v /;
y-.y*.
■
•
■
Monaghan
Directors
have
Co.—$1
declared
a
■
-
•
•
ordnance
.
,
-1 ;
;
>
^
of $1
per
Sept. 20.
31, last;
cents on
1939.—V.
50
was
Vulcan
Corp.—Accumulated
Dividend
,i';S
>■;
Army needs a number of six-inch Barbette guns for harbor de¬
fense at undisclosed points. This type of gun is protected by an armored
hood.
When bids for the gun carriages were asked for several months
75
of
the York Ice Machinery Corp. brought home the plans and imme¬
consulted with executives and engineers from the S. Morgan
Smith Co., A. B. Farquhar Co., Ltd., Brandt-Warner Mfg. Co., Read
Machinery Co. and other York firms.
ago,
diately
'
.
„
After studying the plans and checking available machinery and man¬
York and neighboring communities, this group decided they
power., in
handle
,
the job and were shortly, ab\e to, pro.duce. an .exact iesti-
$hd"prh|ifj,ry;
Corp.
as
9-30
State
1
9-12
1
■9-13'
9-30
9-19,
$1%
9-30
9-19'
31 Va
9-25
.
10-
$l'/a
..,9-20
9-20
9-10
,
9-10;
9-20
3%c
10-
1
8-30
_
t$l
pref.
(s-a)
(quar.)
9-30
9-15
9-
2
8-25>
t$iy4
conv.
Ltd.
Inc.
9-15
1
12 '/aC
10-
1
9-15:
,
__
t25c
(qu)
62'/a
10r
1
9-15
C
10-
1
9-22
37'/a C
_____
10-
1
9-15
9-24
25c
;
25c
9-15'
10-25
' $1.18%
2'/aC
10-15
10-25
-
10-15'
9-15
8-31.
____
50c
(quar.)
10-
1
9-is:
10-
1
9-15
2'/ac
_________
9-15
9-13
$l]/4
10-
1
9-20
$1%
10-
1
"
(quar.)
5c
;
Co.
Co.
Co.,
&
10-
9-
8
9-
;
8
9-30
9-30
(quar.)
_
1
9-10.
10-
1
9-15
......
___»
35c
!_■'/
(irreg.)
9-19
10-
25c
(quar.)
10-15
$3
(N. Y.)
25c
1
10-15
20c
(quar.)
com.
9-30
$lVa
9-12
12-
$l'/4
(quar.)
Comm.
9-20
9-30
5c
*
Telegraph Co. (quar.)
Co.,' Ltd. (quar.)
Trust
8
1
Utilities, Inc. $5 pref. (quar.)
Corporation
8
9-
10-
$1.60
pref.
9-
9-15
2'/aC
(quar.)
Investors Co. $6 pref.
A.)
9-15
10'10-
25c
Sugar Co.,
Ltd.
50c
(quar.)
Corp.—
9-
6,
11-1^
1
9-15
9-
5
■
25c:
9-
5
9-15
9-
5
25c
(quar.)
9-15
20c
A
9-15
9-
5
9-15
9-
5-
20c
preferred"
10-
31 y4c
$2
*_
v.,
1
10-
$1%
(quar.)
nreferred
(quar.)
Scale Co., com.
preferred (s-a)
1
9-209-20
8-16
$2 Va
35c
9-30
$lVa
10-1
$1%
10-
1
$1 Va
J$1.75
10-
8-12-
10-15
1
'
———
Ideal
Cement
Co.
(quar.)
Indiana Gen'I Service
■
Co., 6% pref. hquar.)_
Indiana & Michigan Electric, 7% pref. (qu.)
6% preferred (quar.)
__________________
Wwer
Co.,
Investment
pattern for other industrial communities throughout the
The
share on the common
10-15 T
t$6y4
class A
officials
Submitted to "Arhiy ordnance* offi'ciali
152, p. 3362.
Fund,
Co.,
International Shoe Co.
a
11-15
9-20
25c
_/
Ltd. 5%
plan has been widely publicized and recommended by Office of
Production Management and National Association of Manufacturers
as
9-26.
10-14
*
large Government contracts.
niate.!,of materials
share—V.
Stock
This
could
Sfcpt,
5%
order amounting
defense work on
•'
payable Sept. 1 to holders of record Aug. 14.
Dividend of
paid on June 1, last, and regular quarterly dividend
cents was paid on March 1, last.—V.
152, p. 3362.
stock,
cents
5%
9-20 *
1
20c
class^ B (quar.)
7%
9-18.
11-
50c
;•
(qu.)
(quar.)
Oil
1
9-30
*9-30
'
_i__1
(N. Y.)
(quar.)
7%
(M.
9-10
10-
12'/ac
Extra
Howe
J;'.-;.*>;■
to approximately $2,000,000 has been
awarded by the Army to this corporation as prime contractor under the
"York Plan" of pooling men and machines for cooperative community
Dividend—
dividend
i
.
■country.
Victor
f
preced¬
Ice Machinery Corp.—Forms Pool to Build Army
Guns—
An
35 cents per share on the
holders of record
30 and on March
Sept. 30, 1940; 30
paid on Dec. 27,
!.
Ltd.
Co.
Oil
8-28
9-10
9-20.
$l'/4
(qu)
•
&
9-17.
1
9-20
50c
,
Class
'■
9-
20c
Co.
Hickok
on
par
*"
$1.13
(quar.)
$5 pref
(quar.)
(quar.)
Co.,
Prod.
$5 preferred
,
Dividend—
Co.
Textile
Hawaiian
*
dividend
cumulative
$1
$1 '/a
(quar.)
Great American Insur.
(Consol.)—Accumulated
.'
;
•
declared
on
.
l'i
—
Co.
Cream
Guaranty
Gulf
Co.
Sept. 15 to holders of record Sept.
ing quarters.—V. 153, p. 412. - ■ •
t Repre¬
York
Victor
have
accumulations
in
$38,491
Co.
(quar.)
Co.
Brewing
Hanna
Checker
&
>
(quar.)
Trust'Co.
Wernicke
Golden
'
12,309,731
doubtful
for
$29,305
and
sented
v.
13,320,655
*
After
Corp.
Shoe
Gold
>740,822
Yellow
Tel.
9-10
'
10-
$1
Class' B• Y—
Extra
2,238,541
615,297
9-18-
12-16"
*10-1
5c
Ice
Goebel
7,755,166
2,111,574
railway______
*i
$1%
Assurance
Electric
Globe
12-18
i 10—
1-1-42
•
_
V*Dividend—
Total
Oil
General Public
366,141
14,205
12-31
$3 Vi
Y.)
(quar.)
Supply Co.
Security
1—
from
(N.
(qua*.;.
of N. Y. Inc.
Florsheim
$1,126,961
228,366
ry. oper.
income-— 1,765,054
—V.' 153, p. 709.
131,804
1
Def.
Co.
Financial
.152,022
Goodwill, etc.
$1,037,702
95,251
Net
30,356
>
tNon-oper. rl,
148,870
Jan.
$985,514
3,137,997
Net
unamort.
Co.
Com.
Co.
Extra
defll4,485
9-1#
•
(quar.)
General Amer.
526.580
9-15
9-30
t$l»4
,
.
9-18-
1
$1%
Candy Shops (quar.)
Federal Light & Traction Co.
(quar.):
Filene's (Wm.) Sons Co., com.
4% % pref,. (quar.) ■___
1938
1939
312,131
income—
from
Gross
1940
railway- $1,573,439
railway
oper.
From
989,492
Xeaseh'd imp.,
est.
Canal
Co.
Suburban Bell
Eastern Steel
Mississippi Valley R. R.—Earnings1941
•
Trust
Frankenmuth Brewing Co.
Yazoo &
■
&
Economic Investment Trust,
this
9-15-
10-
'
*;
1
Fanny Farmer
465,000
Net
67,304
tBldgs.,
mach'y, etc... 1,281,981
bal.
1939,
1
10-1
* 25cv
*___
Dominion
.
10-
"
'/
Extra
Pay 20-Cent Common Div.—
9-16:
9-16,*
__
Dep. Bank Shares of N. Y., ser. A (irreg.)
Derby Oil & Refining Co., $4 conv. pref.
have
stock,
9-15-
9-30
t50c
(quar.)
7% pref.
514 % conv. pref.
(quar.)
Davega Stores Corp., 5% conv. pref. (quar.)
De Long Hook & Eye Co.
(quar.)
latter being the first dividend paid in the common
shares since June 30, 1937, when 20 cents per share was distributed.
—V.
153, p. 569.
3,501,400
surplus
54,012
,*
($5
r_
24,295
Inv. & adv—
:
Co.—To
1
*
;• 9-30
t25c
Corp.
Cuban-American Sugar Coi,
declared a dividend of 20 cents per share on the
payable Sept. 30 to holders of record Sept. 16.
This
compares with 15 cents paid on June 30, last; 10 cents paid in the
three preceding quarters; 15 cents paid on June 29, 1940; 10 cents oft
April 1, 1940; 20 cents on Dec. 26, 1939; and 10 cents on Oct. 2 and
926,154
" >
Tube
10-
m
t2uc
50c.
Zellerbach
Delta
9-15
$1
Consolidated
1232.
9-15
50C
Bank
Builders
Consol Edison
is said
both
Directors
common
adj.
cer.
par)
274,259
.
1,184,000
countries-
Cap.
.
■■
;7 sets in bel.
em¬
ac.
public
have
Wolverine
exps.,
a
loss
♦Accts receiv¬
able (trade)
reciv.
the
9-15
1
1
America—
&
preferred
.1 Extra
.
to
to the
stock,
mon
1940
410,868:'
Prov.
notes,
&
1941
for. in. tax.
Other
were
declared an extra dividend of 10 cents per share in
regular quarterly dividend of like amount on the ety¬
payable Oct. 1 to holders of record Sept. 10.
Like
amounts paid in each of the three
preceding- quarters and compares
with 50 cents paid on Oct. 1, 1940 and quarterly dividends of 25 cents
per share previously distributed.
In addition,, extra dividend of 25
cents was paid oil July 1, 1941.—V. 152, p. 3666.
addition
30
etc.
Accr'd
Short-term
....
bonds
25 and offered
pay.,
•
accr.
366,000
Towel
Dixie
Accts,
market
ployees'
June
Liabilities
Govt,
etc.
The
together headed the underwriting
said vo
5>..e
bankers
in
cjmpeaw.e
$
3,427,747
Dock
Cincinnati &
who
substantial portion of the Issue was yet unsold.—V. 153, p.
a
Hanover
Cleveland
Inc.,
1
10-
10-
J
Corp. $7 partic. 1st pref,
Chicago
$7
10-
9-10
,
______
Continental Bank &
1940
$
secur
End
on
Co.,
-/'■
(quar.)
—
Chicago
Wiser Oil Co.—Extra Dividend—
Balance
1941
_
Underwriters
9-20
$1%
Celluloid
—
9-30
9-17
n
m ■
t$3
-
'
(quar.)*
Continental
108,355
surplus....... $6,643 312
secur.
Co.
9-20
-10-1
110c
;
of
9-30
Y * 10c
_
participating pref. (s-a)
prior preferred (quar.)
7%
$0.48
&
the
bidding on Aug.
$5,867 341
$5,161,150
$4,021,670
$4.12
/ $4.05
$4,00
$3.21
Including depreciation of $102,075 in 1941, $99,895 in 1940, $96,829
In 1939 and $85,221 in 1938.
•>
.*ij
S.
at
syndicate.
♦
Cash
$194 237
$0.50
-
*'
co.,
....
Assets
•
Ltd.
2
9-23-
10-15
$i*
(irreg.)
com.*
Co.
>_■
the $30,000,000 3(4% bonds of the company were
close of business Sept. 4 by Gloie, Forgan & Co. and
Stuart,
Halsey,
$6,841,609
7%
$201,970
>
.'*
•
;
$7,953,316
,J 2,085,974
common
share
Common
V
Company
Corp.
Central
/
$8,801,370
on
3204.
p.
Mills
m-
—
J
Transit
Capital
9-23
'/ *t50C
Ltd.* (quar,)*
Celanese,
'
9-30
/: 9-30
A'
Tlnterimr-
Canadian. Westinghouse Co., Ltd.
; 128,146
$245,720
common;
Packers
Extra
9-
25c
37'/aC
>v
(s-a)
9-15
w9-15
9-15
______________
Co.
Co.
.
$499,782
153,814
•;
dividend
152,
com.
Gold'Mines, Ltd.
Ring
Iron
Canadian
$551,726
Wisconsin
Power
&
Light
^
Support of Bonds—-
Earns, per sh on cap. stk.
Offi.
Piston
Canada
1940
1941.
,
1,139
$2,795,897
;,y
2,049,703
off
13,500
$2,792,165
130,003
^
subsid.
of
charged
~14~658
,
.
Dividends
com'l
'y
___.
142,192
earnings
per
—V.
: 5,161,150
$2,804,026
**''.?'5,867,341
pr'idr'"years' *"
inc.
Net
465,000
35,000
Unrequired' 'reserves
trans, to surplus.....
Other
&
profit
earnings
Net
; *
:.y^L-_
profit
TRefund"'"of
U.
Net
.
.
off. '
written
Previous' surplus
-
*'"
■
1,621
1,375
,16,500
adjustments.... "
Fed.
operating
Depreciation
43,847
,'r" '
6 Mos. End. June 30—
Inc.,
Panada Iron Foundries, Ltd.
6% non-cum. pref. Urreg.)
*;r-
.
—-_-i.
Investment
-
.;
'398,966
\
—
Ankerlte
in
assets
!
:
Buff.
Burd
,
Weston Ltd.—Earnings—
Net
possible loss of
belligerent &
adjacent coun- "" Y
jl.'.L— '
235,000
"•
637,210
760,000
1291.
(George)
'
"
of " '"V .'•7-'
...
market
to
"
1,082,394
153, p.
Laughlin,
/'
9-30
,
2'/aCJ
conv.
Cambria
$3,482,981; $2,693,711
$4,048,323
"„
•
—v.
undis- "
adjustment
securities
for
&
taxes.
on
profits
quotations
Prov.
State
Income
surtax
;
$4,121,420
Income
Federal
«
operations $4,068,769
from
income
&
5%
62'/aC
(quar.)
pref; (quar.)
Brandon Corp. class A (irreg.) '
British Columbia; Power Corp., Ltd. cl.
1
(quar.)'.
l__*
;
.
*Cost of
9-12
'
spbTCpntr^ct .wprk.!'',TJie 'bid
Investors
Jersey
Corp.
of
Distribution
Central
L^d.,
7%
(quar.)
pref.
;
__
37VaC
Philadelphia
1
9-15
preferred
preferred
(quar.)
Kayser
(Julius)
& Co.
Keystone Public Service Co. $2.80 pref. (qu.)
Kirkland Lake Gold Mining Co. Ltd.
(s-a)
Kobe, Inc. 6 %^>preferred
9-
9-15
8-31
$1%
(quar.)
9-15
10c
(quar.)__
Co.—
10-1
9-10
10-
1
9-10
10-
1
9-10
9-25
9-15
25c
10-
1
9-15
t5c
_
10-29
9-29
10-
9-20
t30c
Lehman
Corporation
(quar.)
Mfg. Assoiiates
Manufacturers Trlst.Co. (N„ Y.).
2
70c
1
10-J6
Ludlow
$2
(quar.).
i
9-19
9-15
Marcta^
Marine
Oil
Corp.
(quar.)
Midland Trust Co.
-
9-
8
(N. Y.)
(quar.)"
5"C
50-
50C
.
yr^s
thrbUgh' the York tee Machinery
prime contractor and accepted.—V. 152, p. 3992.
3
9-15'
$i%
7%
6%
preierred
3.
9-
75c
Im.
& Light
(quar.)
5Va %
3
9-
1
10-
6
9^
$iy2
Shares.
Power
»-* O
9*
10-15
9-30
2^C
>10-10
9-20
30c
9-19
9-16
1,
,
:
«
9-15-
62
FINANCIAL CHRONICLE
Per
Navie
When
Holders
Share
of Company
Pay'ble
of Rec.
Maui
15C
Agricultural'Co. Ltd. (irreg.)
McLouth
Steel Corp.
Meyer (H. H.) Packing Co. 6%% pref. (qu.)
Middle State Securities Corp.
(quar.) ____
Midland Oil Corp. $2 conv, preference
'Modern Collet & Machine
Modine
Mfg.
Company
Monongahela
West
preferred
Monroe
Penn
Chemical
Co.
$3.50
Utilities
50C
8
9-10
4,
9-15
9-20
Allied
43 %c
10-
1
Class
9-15
87 %c
10-
1
9-13
10-1
9-15
10c
_______
$1%'
,/
10-
1
$1% 4'
—
10-
1
Allied
9-15
20c
9-15
Automative
15c
10-15
9-
1
10-
1
1
9-30
9-25
1
9-15
1
9-15
Co.
_i._____
$5.25,
35c
Y
New
Mexico
Co.
•
1
1
9-
20c
9-15
99-
9-15
50c
9-13
________
North Amer. Bond
Trust, ctfs. of int. (irreg.)
Northland Greyhotipd Lines, Inc. $6.50 pref.
Ohio
Brass
Telephone
Co.,
(quar.)
Co.
A-,..-;
Ohio
Class
50c
—
9-24
9-
9-
preferred (quar.) _—_____:
$6.60 preferred (quar.) ___
$6
preferred
preferred
v
$5
(quar.)
_______
(quar.);
Railway Co. (quar.)
& Mfg. Co.'
Pacific Aviation Inc. (initial)
Ottawa
Electric
Outboard
______
4
"4;
10-
1
Public
Service
Co.
Common
'
.
preferred
Parker
5c
9-20
9-
9-29
75c
25c
_
9-12
75c
9-30
1
1
9-30
_______________
25c
V
9-15
15c
(Quarterly!
Pittsburgh
Common
Wayne
Chic.
&
9-
4
of
Corp.
6%
&
partic.
Co.
Co.
1st
pref.
(quar.)'
Investing
Public Service
$5
preferred
Rand's
Corp.
of N.
Co.
9-15
10-15
9-30
t75c
10-15
9-30
t$l%
10-
1
(irreg.)
(Pittsburgh),
8-30
5c
9-15
9-
5
10c
9-15
9-
5
50c
15c
11-
1
10-
1
Insurance
Tel.
Roos,
Bros., Inc.
Scranton Electric
(quar.)
1st pref. (quar.)
6%%
Corp.
(quar.)
Common
Co.
(quar.)
Co.
$6
1
(quar.)
+4c
_____
&
Gas
Co.
_
(quar.)
South Shore Utilities Assoc.
West
Southern
5%%
Pennsylvania
Calif.
Edison
preferred
C
&
(quar.)
(qu.)
Ltd.
Electric
&
pref.
Co.
5%
(qu.)
pref._
—.
P.
Co.
$6
pref.
(L. S.)
Stedman
6%
Bros.
conv.
(quar.)
_
Water
Time,
7
Oil
10-15
9-20
Armour
&
__—
(irreg.)
Co.
10-
1
9-15
10-
1
9-20
Asbestos
9-30
9-16
1
9-30
9-20
Atlantic
9-30
9-19
1
9-20
9-10
(monthly)
Van
:_—
Corp.
$5
$6.50
1
preferred
Chemical
1
9-15
41%C
10-
1
9-15
West
Penn
Power
Westgate-Greenland
Wiser
Oil
Oil
Company
Extra
Yellow
class
Checker
(quar.)
__
_______
——
Co.
Cab
of
we
(consol.)
$1%
9-30
6%
2
Co.
.
Barber
Barnsdall
Basic
9-30
(W.
9-20
Beattie
9-12
Beech
37y2c
9-25
9-10
_
$1%
10-15
9-19
Gold
Creek
Extra
Belmont
10-10
1
9-10
Bendix
10-
1
9-10
Berghoff
9-15
9-10
Laboratories
Acme
of Company
Steel
Co.
Share
(quar.)
(quar.).
Advance
Aluminum
Castings Corp.______
Supply Mfg. Co., Inc. $1.50 cl. A (quar.)
Ball Bearing Mfg. Co.
(quar.)
Agnew-Surpass Shoe Stores 7% pref. (quar.)
Agricul. Infe. Co. (Watertown, N. Y.) (quar.)
Agricultural Natl Bank (Pittsfield, Mass.)-m'
(quarterly)
Power
preferred
wuD
Co.
9-
9-24
9-25
y/: 50c
__
11-1
25c
9-15
25c
9-10
9-10
9-
9-15
10-15
t.
v.
$1
8-30
$7
pref,
When
Pay'ble
'
(quar.)
Corp. common
15c
(quar.)
(quar.)
(quar.)
_____
"
(quar.)
_
9-15
9-
10-
1
Corp.
(quar.)
1%
Works
_____________
Decker Manufacturing Co.
(quar.)
Tobacco Co. 6% pref. (quar.)
Stores,
Inc.
(quar.)__
Boston & Albany R. R. Co. (quar.)
_
9-25
.
—
Brach
(E. J.) & Sons (quar.)
u
Brazilian Tr. Lt. & Pr. Co., Ltd. 6% pf. (qu.)
ip- 1
r
9-
9-
9-15
9-
9-30
10-
75c
10-1
t$iy2
10-
9-
9-30
9-11
Brewing Corp. of America
10c
Bridgeport
25c
9-30
10-15
9-12
10-
1
Bright
6%
preferred
British-American
12'/2c
9-20
9-10
10- 1
9-15
Co.__
Briggs & Stratton Corp
8-15
37%c
35c
t$l%
75c
9-19
9- 1
(T.
Amer.
G.)
&
Co.,
!_
Ltd.
com.
(quar.)__
(quar.)
Tobacco
—_
75c
t?y2c
1,
10- 1
9-15
9-20
dep. recepits for ord.
Brown
$2,; (:,10-15; i/10-10
$1%
10- 1
9-12
io-
1
Amer.
9-12
.Extra
&
dep. rec. for 5%
(interim)
7d
8-30
10-
6
Sharp
Mfg.
Co.,
9-10
03
9-10
jr
preferred
(quar.)
Co.,
common
—50c
9-15
$iy4
10- 1
______________
9-
5
9-20
Tr.
5
9-10
1
9-19
9-15
8-20
9-15
8-20
9-30
9-30
9-30
9-30
9-30
9-15
9-30
9-15
9-20
8-30
9-20
8-.30
9-20
9-
9-15
8-30
$iy2
75c
10-
1
1
9-15
&
9-
8
1
9*
8
9-29
9-
5
50c
(quar.)
9-29
9-
5
$l>/4
9-30
9-15
8-25
9-15
8-25
$i3/4
pref.
A
(quar.)
9-15
$1
10-
1
9-30
10-
1
isc
10-
1
9-16
9-30
9-15
(Engle•
(Savannah,
30c
(quar.)
$1
75c
—
:;
Invest.
conv.
Loan
'
Tel.
conv.
.Common!:
-
Film
Gas
1
$1 o<jv4
'
(qu.)_
$1
06y
+75C
$1>/
preferred
9-20
9-
9
9-30
9-
9
10-
1
9-10
10-
1
9-10
9-30
10-
1
9-15
9-12
10-
1
$iy2
(quar.)
v.t.c.Cqu.)
10-
1
9-15
12-
1
11-14
9-15
25c
9-15
9-
5
62%c
9-15
9-
5
$11/,
9-30
9-25
$1y2
(Toronto)
12-31
12-14
(qu.)_
25c
——
t4c
Power, com.
(quar,)_
Corp., class A
;_
of N.
Lt.
& Pr.
Y., Inc.
Inc.
Co)
$2
(quar.)
(quar.)
75c
t73c
(red.)
40c
pref
+26c
(Bait.)w.•?•»•.•
——
B
9-20
9-30
$1%
pf.
(quar.)
(quar.)
preferred C
8-22
10-
(quar.)___
Industries,
El.
9-10
9-10
75c
com.
com.,
Ltd.
Edison Co.
Consolidated
9-12
9", 9
9-J2
9-30
(Indianapolis)—
Corp.
&
1
(quar.)—_
Corp. $6 pfd.__
(Madison. Wis.) 6 pf.
Assoc.
Light
1
9-30
1
$1)/
preferred
Mines,
10-
3qc
Utilities Corp. 6%
"C"
(quar.)
Life
9-19
8-25
10-
preferred
Mach.
1
9-15
10-
$1
Southern
Co.
10-
35c
'
Shoe
9-22
50c
(quar.)
Co.
8-26
9-12
(quar.)
(quar.)
Corp.,
8-26
9-15
9-15
$1 06%
(quar.)
&
1
9-25
$5
pf. (ciiar.)
Co.
(quar.)_
common
preferred
preferred
4y2%
(irreg.)
$4.25
(quar.)
Tr.
10-
9-25
31 %c
preferred
8-30
9-15
75c
(quar.)
Banking Corp., 7% pref.
Co.,
9-15
75c
4';.:/' $ia/4;
Co.
Credit
10-21
9-30
75C
convertible
1
Co.—
Corp.
9-15
3qc
(quar.)
Cement
4%
25c
i
Electric
11-
9-15
(interim)
preferred
8-25
1
;■
Mfg.
9-20
10-
(quar.)—
Arms
1
9-13
$i>/4
50c
—
10-
9-20
20c
Co.
(Chicago)
Co.
9-20
12V2c
—
&
1
$iy2
Co.
Gas
10-
$32%
V.
Co.
8-30
1
10-
$1
(irreg.)—
Trust
(quar.)
9-10
10-
$1/
(quar.)
pfd.
Co.
Co.
Co.
Fire
prior
Consolidated
•8-30
>>30
10-
9-12
9-
75c
.
common—;
Consolidated
:
1
pref.
Bank
Co.
Carbon
Coniaurum
9-; 3
(quar,)$1%
9-30
9-15
:
t$l'/2
(quar.)
Consolidated
>,3
•
Brunswick-Balke-Collender
$5
com.
(Toronto)
5%
International
Connecticut
10- 6
t$l%
(quar.)
common
&
Quarterly
_
Congoleum-Nairn, Inc.
'
10-41
$4C 4
Co.
Patent
$2.50
4
2V2%
9-15
9-10
25c
pref.
Co.
preferred
Confederation
8-30
2'/2%
9-20
Co>
Nat.
Co.
&
Counties
Commonwealth
9-16
(s-a)
pref. reg.
pref. bearer
Fuel
Bk.
1st
(quar.)
8-25
(s-a)
reg.
kAiner. dep. receipts for 5%
&
Peabody
6'%%
9-15
:
15c
.
—
preferred
Compo
9-
15c
(quar.)
Southern
Com'wealth
9
9-15
pref.
$iy2
Molybdenum
5%
5
9-15
t$l'/2
Ltd.—
-
*
10-
-
$1%
Brass
$6
—
Elec.
Chemical
9-15
9-10
9-11
(quar.)
_
5%
Co.
Bk.
Controller
9-13
1
&
Commonwealth
9-10
9-20
30c
75c
$1%
t$l%
t$lV2
'
•
___
(quar.)
Commonwealth
8-30
1
1
(quar.)-
(consolidated)
Stamping
Nat'l
$4.25
9-25,
$2
$1V4
&
4'/4%
9
9-24
9-30
10-
common
Machine
J.)
Commercial
2
50c
40c
N.
$1.20
5
$iy2
Corp.
National
Commercial
5
9-
$1%
25c
——'
6%
& Fibre,
&
Gas
Commercial
9-15
Co.
Securities
Columbian
T ,//
$i>/2
1
Corporation
Ice
Colt's
9-12
9-
10-
__—1_„——_
preferred—!
Colgate-Palmolive-Peet
2
9-15
$ia/4
—
Boston Elevated Ry. Co. (quar.)
Bower Roller Bearing Co.
9-
Rivet
Coca-Cola
9-10
25c
.
&
Bros.
9-15
t30c
—;____
pref.
(quar.)—
Co. 6% pref.
10-1
4 9-15
_*_
Utilities
common
5%
9-10
15c
9-15
1
(quar.)_——
Ltd.
(quar.)_
News, Inc. 5%
Flexible Shaft Co
Coca-Cola
9-12
$1
!
1
10-
50c
—_
Co.
Daily
Auto
Coast
9
1
10-
$1V2
i.__ __—
_____
preferred
7%
8-31
9-23
10-
9-24
9-15
Cluett
>11
50c
10-1
$2
"
pref,
pref.
Wire
Clorex
9-15
J4c
*.
9-19
(quar.)
6%
preferred
&
Climax
9-1
50c
Corp.
Water
8
9-15
37'/2c
(Quebec)
Corp. (quar.) _____________
Appliance class A '____
Steel
9-
10-1
1
(quar.) Y
Equipment Co., common
preferred
(quar.)
Clearing Machine Corp. (quar.)
3
25c
___2_
10-
7%
8-23
R.
Brewing
Bloch
of Rec.
9-
9-15
3
$1%
Clark
3
20c
Corp.
Bond
Holders
9-30
25c
;_
9-
9-
9-20
City
9-15
9-30
1
1
Clark
9-10
6'/4c
7y2c
_
3
10-
1
City
9-10
1
9-
10-
..City
9-23
1
1
10-
f$3
(quar.)
Mines, Ltd.
R.
10-15
19-
1
10-
Ga.)
5
10-
9-20
10-
$1
.Citizens
8-20
-
9-20
9-30
$4c
$1
wood,
9-30
■-/
c.__.
$1 %
$l»/4
Citizens
8-30
$iya
(quar.)
9-20
9-30
(qu.)
Cincinnati
8-29
20c
$iy2
w__
1924
9-15
'4 9-30
60c
Mines,
West
Paper
Chrysler
8-11
$1
a
9-25
(quar.)_
,7%
6
8-21
9- 5
9-20
:9-201
9-30
50c
Service
Gold
lien
Steel
Christiana
9-12
10-
lien
prior
'Chicago
9-12
9-30
$1
____________
(quar.)
Co.
-9-15
9-30
$iy4
(quar.)' V
9-UO
9-15
10c
$1V2
(quar.)—
(quar.)
Co.
non-conv.
South
prior
fChicago
-9-15
A
$7
Chicago
9-15
9-30
6%
&
Extra:
9-10
9-30
5
1
1
9-30
$2
•
(qu.) *
:
Co.
Chesebrough Mfg. Co.
1
15c
9*
10-
Chesapeake Corp.
(West Point,
Va.)——
Chesapeake & Ohio Ry. Co. common (quar.)
4% non-cum. series A pref. (quar.) ____
9-15
9-15
10-
$50c
$1%
■"
Ltd.
preferred
preferred
Public
Chesapeake-Camp
-
-9-15
$1
9-26
$$2
•
<lrreg:)_
common'
preferred
(quar.)
Chartered Tr. & Exec. Co.
9-10
10-
•
f 15c
(quar.)
t2c
•
15c
6%
9-10
1
t$iy2
9-30
$1V8
$1
(quar.)
Aero
$6
1
10c
Aetna
Alabama
1
1
40c
;
^__
preferred
i,
10-
fi5c
conv,
com.
Mines, Ltd.
8% pref: (quar.)_
Light Co. 4l/2% pref,
Patricia
Champion
9-12
3-31
10-
Co.
Home
Black
being given in the
'
1
1
$13/4
(quar.)
(quar.)
Packing Co. (quar.)
Bethlehem
t$l
Per
Extra
10-
10-
$iy2
Radio
10-15
'
y2%
9-20
$1% ..." 10-
__________
10-
give the dividends announced in previous
The list does not include divi¬
week, these
4
1
V
9-30
9-30
to
$6
8-26
10-
'r'
•.
10-15
common
Tel.
Illinois
Central
9-20
10c
;
Scotia
Works
Beech-Nut
preceding table.
Abbott
9-12
$1%
.
-
9
10-1
'
'9-15
9-3(J
Paper Co., Inc.—
to 6% conv. pref.
(quar.)
Central
2
9-
9-15
9-13
Extra,:—$2c
9-19
V
9-15
1
9-30
3%
*
10-15
$1
(quar.)
series A
Inc.,
Bayuk Cigars, Inc.
9-30
lc
1
1
10-
1
preferred
3%
9-19
9-2Q
10-
Central
Central
9-
7%
Co.
Illinois
9-15
25c
,/
I.)
&
8-30
'
10-HK
i"'
(quar.)
Elec.
6%
9-16
10-15
(quar.)
Storage
9-10
10-
Inc.,
Cold
1
25c
Refractories, Inc.
Bath Iron
9-10
3
9-22
$11/4
(quar.)—_—_—
H.)
Oil
9-30
r$l%
9-
10-31
-
1st
B
9-15
50c
30c
com.
pref.
pref.
preferred
2
9-10
5*
________
National Investing
10c
cl. A
weeks and not yet paid.
dends announced this
Name
./v $3V2
(quar.)
Mills,
preferred
10-15
4Qc
5%
A
10-
$iy2
Co.,
preferred
Central
!
8-30
9-
9-15
: $2%
(quar.) ;•
9-15
1,;
$2c
Central
2
______________
__—________
Below
10-
25c
■
1
9-15
$1%
9-15
10-
10-
;
Central
.9-15
12y2c
(quar.)
6%
Nova
2*
910-
____
.____,
Co.
Bank
Birmingham
(quar.)
'
•'
(quar.)
pref,
10-
75c
!
\
pref.
(quar.)
4%
Building,
25c
(monthly)
(quar.)
'____i
&
9-
9-15
35c
A
(quar.)
Co.
9-15
10-15
$1%
(irreg.)
Co.
Co., com,
preferred (quar.)
4%%
3oc
y
Y.)
(quar.)
preferred
Bankers
15C
(quar.)
Works
Electric
'.
,
(quar,*
10-15
Telephone Co. of Canada
(quar.)
;
t$2
.Bangor Hydro-Electric Co. 7% 1st pref. (qu)* ;.-$l%
6% preferred (quar.)
—____________—$iy2
9-15
10-
Bakeries, Inc.
;
Penn
Ltd.
Gold
Ltd.,
Central
,
1
$$1%
(quar.)
Quartz Mining Co.,
6%
8-15
9-15
10-
10-
(quar.)
6%
(J.
9-15
10-1
t$2
*
Carthage
9,15
/
preferred
Case
10-, 1
■
10-31
8
8
9-15
10-31
8
•9-
r
A——$$1%
$$1%
9-
11-24
9-13
10-
(quar.)—
Telephone & Telegraph Co.
Carpenter Steel Co. (interim)
1
9-19
1
Ltd.
(quar.)
Cos.,
Cariboo Gold
4> Extra
8-30
9_30
$ii/g
Corp.
conv,
(quar.)
/'v 5% preferred "
v
12-
35C
_____/
Co
Co.
Co.,
Balfour
5
10-
$1%
______
de Kemp's Holland Dutch
West
i5c
$1%
_____
Investment
Ref.
Press
6%
pref.
6% pref. (quar.)
pref. (quarj
Common
.Victor
9-
50c
$1%
Potash Company,
Sugar
Atlas
9-10
58y3c
_____
United Artists Theatre Circuit Inc., 5%
S.
9-10
r
6%
1
class
9-
1
9-20
:
,
(quar.j
pref.
6% preferred
$7
10-
t$l%
Bell
(monthly)
TJ...S,
1
t93%c
Corp.-—
(San Francisco)
Co.
Ltd.
Carolina
Works, Inc.
preferred
Baldwin
10-
5
V/o
Refining Co. (quar.)
Atlas Corp. common
Atlas Powder Co. (increased)
9-20
9-20
12-
—
.'Atlantic
5%
pref.
(monthly)
U.
Co.
Associates
1
10-
12_i5
10- 1
_____
10-
$1
Carnation
(Del.) 7% pref. (quar.)—
(111.) $6 prior preferred
Corp.,
10-
1
5
Extra
t$i%
10-
9-
.(quar.)
Co.
Art Metal
$iy2
$2
preferred
preferred
L.
Constable
$1%
__—
$4.50
&
preferred
Arnold
$i
tl5c
9.15
(year-end)
Armstrong Cork. Co. 4%
9-20
Co.—
preferred
%
37% c
(interim)
Edison
%
5
&
$iy8
6%
.
_________
!
Inc.
Toledo
(quar.)
com
Associated
(quar.)
Armour
$75c
_______
$i3/4
—
P.
$l'/4
(irreg.)
Ltd.
9-20
50c
(quar.)
preferred (quar.)
Machine Tool Co.
Sundstrand
Tide
Co.
9-15
10-15
10-15
5
(quar.)
B
Arkansas
i$iy2
9-
_
Class
1
—
Standard Fruit & Steamship Corp.—
$3 participating preference _____________
Starrett
8-25
2
$6
_______—_
h|_.
Southwestern L.
Square D Company
5% conv. preferred
9-10
9-
10-
•Carey
9-10
10-
;y$$2
$12%c
*'
Co.,
City Products
(Phillip) Mfg-. Co.
9-15
City Nat. Bank (N.
Copper Mining Co.
50c
_____
Co.
Co.
Capital
30c
preferred
8-31
8
10^
.
14
4 ; Common.* (irreg. 1
9-20
,
9-15
t$l'/2
—_—
Electric
Malarlic
6il
9.39
,
8-31
.
Canadian
i5C
$1%
8-31
9-15
;
Can. Wireb'd Boxes Ltd. $1.50 cl. A (accum.)
Canfield Oil Co., 6% pref.
(quar.)——^___
(qu.)
/
9-
9-15
$$1%
.
'
3
9-10*
Andes
9-20
9-26
Trust
Ltd.—
3
8-27
Anchor Hocking Glass Corp. $5 pref.
(quar.)
Copper Mining Co
Anheuser-Busch, Inc.
(quar.)
Apex Electrical Mfg. Co. com. (quar.) ____
7% prior preferred (quar.)
_____
A. P. W. Properties, Inc. 4% class A (s-a)
8-23
9-30
Tobacco
Co.,
9-
:
9-15
'
$12V2c
.,9-
10-14
preferred-,—
9-16
(quar.)—
common
•
9-20
_____
9-30
,$$2V2
175c
•-
9-25
,
9-30
10-15
10-1
i
'(accum.4,.$44c
common " (quar,)-i:
" Y $$1
(quar.)
preferred
9-I6
•
10-25
$50c
—
I
'.•v./V.t
1
8-30
t$2
(accum.)
———————
Canadian
•9-15*
1
12-
9-15
t$l
(interim)
pref.
1
9-30
common—
Tobacco
$3
Invest't,
Industries, Ltd.,
B
10-15
(Indianapolis)
Co.
7%
9-
12-T5
-
(qui)
10-
t$iy8
Foundries
Sumatra
37 %c
Lines
(CalifY—
(quar.)
original preferred (quar.)
Southern Can. Pow., 6% partic.
Gas
$1%
Co.
10-1
(re-
10-
•
20c t If 9-26
_______
Sugar Refin.
Anaconda
8-23
2
Tns.
9-18
Class
$2
7%
Co.
—
General
Canadian
f$l%
_______
preferred
Steel
34%
Pipe
Co.
2
States
American
9-30
9-
Canadian
75c
Amsterdam
3
9-
t67c
37 %c
$1.50 pref.
5%
Southwestern
■
5
9-15
(qu.)
(quar.)
$5
Co.
Mill
American
9-10
9-
9-
9-30
20c
(quar.)__
American Telephone & Telegraph Co. (quar.)
$6 prior
preferred
(quar.)
Penn Oil Co.
.
1
10-15
t$l
—________—
Electric
9-20
10-
Rolling
convertible
American
9-20
$l%c
____
10-1
25c
9-15
$37% 'r.
Foreign Investment Corp., Ltd>Z
preferred
Tenn.)
pfd.
-
Ltd.,
General
!'
—
American
9-20
1
Canadian
8%
.
(Chgo.)
(quar.)
American
9-19,
1010-
37 %C
pref.
Sheep Creek Gold Mines Ltd. (quar.)
Sorg Paper Co., 6% preferred A __________
4% -6% series B
Carolina
10-15
$1%
$1%
^
Amer.
9-20
25c
_
8-19
(bi-monthly)
7%
______
preferred
4Va%
9-20
9-30
.9-15
Canadian
25c
Radiator & Standard San.
American
9-19*
9-30
Co.
Co.,
Common
10-21
30c
News
7Ve
9-15
$1%
10c
,
Co.__
(Nashville,
Paper
American
9-15
9-30
50c
Rochester American
••
9-30
50c
—
Bk.
$6
preferred—
American Public Service
9-15
(quar.)
com.
/
preferred
Co.
Tr.
7Vo
preferred
(quar.)
American
Power & Light
8-30
9-15
Nat'l
American
5
1
9-15
Extra
South
10-
8-25
(s.-a.)__
9-10
J37V2c
;(quar.)__„—
:
8-19
9-30
9-15
9-24
$50c
Ltd., cl. A
partic. pf.
preference
9-1
/
7%
5%
Cottons,
preferred
9-15
(monthly)
I
&
partic.
6%
40°
75c
8-30
9-30
(qu.)
_____>:
(irregular)
Foundry
$1
Co.
Bk.
American
5
$1 %
_________
Reliance Manufacturing Co. (111.) com.
Reynolds Metals Co. 5%%' conv pref (quar.)
Rieke Metal Products Corp. (quar.) _______
South
99-
3C
preferred (quar.)
South
9-15
9-15
$1%;
(quar.)
American
9-20
20c
Meter
Nat.
&
v
(quar.)
Foundry
American
Car
Canadian
8-29
9-15
-
Corp.
A
&
7%
8-29
9-15
.
Canadian
•
<"12'/2c
(quar.) 3'
(Newark)
Machine
American
9-10
t$l%
f30c
(irregular)
Co.,
10-
7
8
11-25
8-30
15c
,1st
preference 4 (quar.);
$25c
Participating
"44 $5c
non-cum.
conv.
preferred
(quar.)—
$15c
Participating
i—
' /$5c
2
»
8-29
'
$$1%
(Toronto)
Co.,
(quar.)
Ltd.
9-15
9-13
9-20
60c.
8
?9-
Inc.—
class
9-
11-
_j
Co.
Co.,
Bak.
9-10
*
5%
4 9-8
1
9-15
Co.__
Locomotive
$1%
——_______
(quar.)
Locker
10>
Co.—
Products
non-cum.
American
__
preferred (quar.)
Ray-O-Vac Company, com.
Rochester
$1.50
10-1
'
11-15
5c
9-10
8%
8 %
Insurance
preferred
1
8-30
9-20
$50c 1
Cable
Breweries, Ltd.,
Canadian
Canners, Ltd.
8
50c
$iy4
(quar.)
Home
6%%
Ltd.
Co.,
&
9-
9-30
25c
'
(qu.)
com.
•9-15
$$1%
M0c
$15c
$1.18%
Co.
Ltd',
Corp.,
2
.;
'
(quar.)__«.
Canadian
$1%
common
Leather
pref.
9-
\ 9-13
(interim)
Canadian
8
10- 1
12- 1
pref
B
5 ■:
(quar.)
$6
Wire
Class
9-8.
.
9-
9-30
(quar.)
Starch
5
9-
9-15
to
•'
135C
Co.
SS
1
12J/2c
(quar.)
&
10-
12l/2c
.
conv.
1
(quar.)
H., $6 pref.
Co.
9-
$1%
$2.02
*'
——_
Pr.
5
Y.-"'
Forgings, class A
preferred. "(quar.)i_'
Perm. Mtge. Corp.
Canada
12-
15c
&
Co.,. Ltd.
8
9-
8-18
Corp., Ltd.'(interim)
Ale Co. (quar.)
Canada
9-11 '
(inc.)__
pfd. A
Inc., com.
Socket
Elec.
Hawaiian
10-
10c
Prudential
&
&
Hide
$1%
(quar.)
(quar.)
Forging
Gas
American
9-24
12-24
9-30
(quar,)___
(quar.)____
7%
Co.
preferred
'
pref.
series
.4/7%
•
1
^■/■i2,/aC
(quar.)_
series
American
.
pref.
5%%
Ltd.
Laundry
Progress
10-
30c
6%
Can.
non-cum.
Bros.
1
1-2-42
series
l'v
9-15
10-
;
(quar.)
duced)
2
12-15
10-
A
Northern
'■
:
thereon
9-15
9-15
Stone
Foundries
Canada
*
7%
;
9-15
9-
11-24
1
1
of
'38, & int.
1,
Ginger
Canada
y 9-15
1-
15c
Extra
10-10
•
$2
1st
Lines,
American
4
9-
Envelope
Export
(quar.)
j
2nd
3rd
/
——
Price
$2
•
preferred
preferred
American
Co.—
Ry.
(quar.)
7 % preferred (quar.)
Plymouth Oil Co.
(quar.)
Power
10-31
___i
u—-1--.-iii.
_____
Fort
9-15
25c
,—_
•
io-
15c
com,
(quar.)
preferred
9-30
12-
10-6
_
Malting
9-
9-15
.
Dry
Canada
9-
9-15
+
-
10-15
1
/fl5c
Consolidated Copper Co.
Co., Ltd., 6'/2% pf. (accum.)
9-3
/'*/■/•'
common
class A
conv.
6%
'
Brewing Co.
(quar.)
Pilgrim Trust Co. (quar.) _•___
Co.,
common
American
9-20
(quar.)
Pfeiffer
B
43A'/c
•
15c
American
9-10
37 %c
v :
J
$2
dividend
Hecla
9- 3
r
1
9-30
annas
,
3
—_
■
Crushed
Class
9-24*
?.
9-15
•.
conv.
5%.
'
$1
common..
Extra
9-10
10-
Co.
1
9-15
$1%
.
Cigar
10-1
$l'/4
stock
B
Colortype
American
9-15
10-
70c
Canada
—^
(quar.)
&
conv.
8
$1%
_
Co.
(quar.)
class
American
9-15
9-
9-24*
"•
preferred (quar.)
American
&
Foreign
Pr.
$7 preferred
9-15
9-29
Canada
5%
9-15
1
10-
9-17
10-
(quar.)_i—_"—
'41
Canada
1
'$1
11-
10-
$1V4
preferred (quar.) —
pref erred—/
■
Cement Co.
Canada Cement
i )
40c
9-15
50c
_
(final)
quarterly
Aug.
3p,
.Calumet <fe
10-
/
com.__^_
7%
the
y
9-11*
10-
$1%
inc.
(quar.)
Cynamid Co.
American
9-15
:
9-30
________
(quar.)
Exploration, Inc.
1
$10c
(quar.)
:___—
Pato Consol. Gold Dredging, Ltd. (interim)
Penney (J. C.) Co.
Pennsylvania Edison Co., $5 pref. (quar.)
$2.80 preferred
(quar.)
Perfection Stove Co.
1
10-1
10-
Co.,
6%
1
25c
—_______
Appliance Co.
Petroleum
10-
15c
of
'American
9-18
$1%
Cable
Chicle
Class
5
10C
Foundry
/
> $1%
(quar.)________*
Co. com.
(res.)
preferred/(quar.)
&
5%
9-15
______
pref.
9-15/
•
1
preferred——t75c
Calgary & Edmonton Corp., Ltd. (interim) ' '
t5c
California Ink Co., Inc. (irreg.)
750/
California-Western States Life Ins. Co, (s-a)
' 50c
9-11*
Common
9-15
11-
______—
(quar.)
(quar.)
(increased)
1
7%
Cigarette
American
■
Southern Invv Inc., $3 pref. (quar.)
Paramount Pictures, Inc. 6% 1st pref. (qu.)
2nd
1
10-
&
Chain
preferred
share
9-15
11-20
85c
Pacific
6%,
10-
$30c
Car
non-cum.
American
9-15
i
10-
Co.
10- T
:.
due
Sept.
75c
1
American Cities Power & Light, $2.75 class A
68%c. in cash, or at holders option 1-16
9-15
'
10
____
10-
$iy4
(quar.)
(quar.)
Ltd.,
8-22
9-15
$1%
—__
15c
reg.
7%
M.)-
'
Calaberas
.
L.)
____
(quar.)
Can
preferred
(St.
common
t. $1.75
,
12-15
(A.
Representing
.
.
9-15
12-15
•
ord.
Butler Water Co.
."
y 8-30
12-31-
Corp.
Byers
•;
10- 4 pf.Mqu)- $1.06'/4 \ 10-15
(qu.)
;.'•• 25c ^.
9-15 -4. •■9- 1/
conv.
Co.
Co.
2
8-28
9-30 >
-
Burma
9-
12-31::,;,-.
$1%
Burgess Battery Co:
Burlington Steel Co.,;
9-15
9-30
50o
$1%
Ins.
Note
preferred
6%
9-15
1
10-
Marine
—
Pacific
1
10-
$1.65
$1%
$1%
—-
Bank
•
9rl5V
50c
.v:
___—f~!:;
Airlines, Inc., $4.25
American
8
$1.80
$1%
__—
.
$7
(quar.)
m-
American
8
9-24
15c
(quar.)_—
Inc.
preferred
9-8
'9-10 ;^
10-1,,
$iy2
—
(quar.)
5%
Edison
Company—
$7.20 preferred (guar.)
Inc.
(quar.)
7%
9-20
50c
—
B
__;
•
1
•
9-16
.v
9-25
•
.
common_-_i.ii_i.u^$1
(quar.)
5%
9-15
10-
1
—_
Co.
Bros.
of Rec
$1
25c
40c
common—.
Niag. & East. Pr. Corp. $5 pf.
Bunte
Holders
,
Share
6.4% .preferred ..(quar.)——;
Bullard
9-12
9-30
.
25c
—
9-12
10-1
50c
Buff.
.
When
Pay'ble
Per-
;.
__________________—_
Co.
preferred
'
9-15
.9-12
10-1
$1V4
■
•
.
preferred
American
•
Class
;
Co
America
preferred
American
9-26
(quar.)—
(quar.)
1%
American
8-29
1
Cement
of
Industries,
6%
3
9-30
10-
pref.
Manufacturers,
American
5
9-
9-15
$16
$1%
$1%
__
9-
Co.
American
5
$1%
_
Portland
;
7%
5
9-
10- 1
10-; 1
10- 1
•'
of Company
Pipe Line
Bucyrus-Erie
9-10
9-20
..
25c
•.
50°
43%c
Co,_——
^American Automobile
5
9-15
Mfg.
7%
;
3
_
preferred
(s-a)
(irreg.)
No-Sag Spring Co.
5%
Copr.
preferred
Quarterly
9-15
10-
$1%
com.
10-
$1%
conv.
Bell
10-
15c
$1.31%
(quar.)
Niles-Bement-Pond
Northwestern
10-
25c
...
—_________
Gas
>
5
'
_______—_
1st preferred (quar.)
Jersey Power & Light, $6 pref.
6%
10c
(interim)
New
$iy2
15c
(quar.)—
———
Aluminum
11-20
Products
(quar.)
(quar,)_______A.__
Buckeye
8
9-
'•'•4
;
Name
10-17
10- 1
9-30
•
;
:
of Rec.
11- 1
$3
50c
common___^
common,
Pay'ble
$1^4
(s.-a.)1—___
Corp.
Inc.
Aluminum
9-20
12-
10c
.—
9-
Stores
6r/o
8-20
Natomas Company (quar.);
Nehi Corporation, com.
(quar.)
Dye
(quar.)
Aluminum
9-25
10c
,___
Fibres, Inc. ________—
Bearing Inc. com. ________,4
A
Alpha
9-11
Motor
National Oil
Co.
Corp.
Corp.,
Allis-Chalmers
9-15
9-30
40c
National
.__u.__.__
&
Laboratories,
Products
Wheiir..'. Holders
Share
•
Extra
National
Common
Chemical
Steel
Allied
9-10
5
Piston
Common
Ludlum
Allied
9-10
9-20
7%
Ring Co., (irreg.)
Mutual Telephone Co.
(Hawaii) (quar.)
Alleghany
9-10
10c
75c
(quar.)
com.
preferred
(quar.)
Alabama & Vicksburg Ry.
8-20
9-15
125C
-
Serv.
pref.
9-
2
of Company
$5
Saturday, September 6, 1941
\
Per
Name
9-20
9-15
75C
_____—
Co.
1
9-
$1%
_______
____
6% preferred (quar.)
5'% preferred (quar.)
Muskegon
_
Pub.
(quar.)
Montana-Dakota
■;
Co.
(quar.)
10-
■■
.
9-15
9-
9-25
9-12
10-
1
9-J5
8-30-
9-15
8-
90c:
^
8
10-
1
9-10
10-
1
9-15
•
$lv
2
9-15
30-
1
9-15
10-
1
9-15
FINANCIAL CHRONICLE
Number 3977
Volume 154
Special *
Consolidated
Consolidated
Retail
Baking
Conticnntal
(interim)
Co;
Can
Steel
Continental
First
'First
10-
1
9-15
10-
1
9-12
10-
1
9-12
9-15
35c
"
:
•
25c
9-29
$3
5%
preferred
conv,
1
pub'i-hing
Steel
Crucible
10-
1
12-15
1
1-2-42
I
1
$30.50
10-
9-10
8-30
9-15
9-
9-15
8-25
50C
9-24
9-13
56ftc
9-15
8-29*
62V2c
12 VaC
__
•
pref.
pref.
'•<
$lft
(qu.)
10c
10-
1
Fox
1
$0.60
Gamewell
David
8% ■
If
7%
ft
Co,
iquar.)
pref.
Quarterly
'7%
Steel
Detroit
Steel
&
Devoe
.-II
mil
I,.I
l..
■■ mn
ftI
u*i i
n
t i'v .■»■ >'i
York
New
r
Raynolds
A
10-
2
12-23
1-5-42
9-13
8-30
50c
10--
25C
1
7%
5
.
B
preferred
Oil
Devonian
'
convertible
$5
(quar.)
preferred
Distillers
Corp.-Seagrams Ltd. (quar.)
Truck Co.
(irreg—
Co. common
1
Divco
Co.
'
&
Dolesc
Dominion
preferred
5Va'f
t
7%
<
Dr.
Donnacona
'-Class
pref.
Corp,
Draper
$5
7ft
■
Bradstreet,
iz
$6
.
preferred
du
I.)
iE.
Pont
de
&
Co.
1
9-25
1
9-13
(quar.)
10-15
ioc
1010-
Eastern
Kodak
Iron
$iy8
Co...
10-1
10-
ft 6ft
preferred ' (quar.)
J.
"
(quar.)
_____J——
common,
*
5ft
Paso
El
preferred '(quar.)
conv.
Elec.
Co.
$4.50 pref,
(Texas)
Controller
Electric
Elgin
Power
&
Watch
(s-a)
com.
El
Electric
Paso
Co,
v:
:
Employers
Capwell
''
Co.
$1.14
(
,
$3
.
Ewa
-
1
10-25
V.
•
Ltd.—.
ft
9-20
10-
10-
T.462i/ac
,•
,
,
$1,50
$1.50
cum.-conv.
pref.
conv.-
:
Famous
Placers
pref. A (quar,)_:—
(quar,)——.
Canadian
Corp.
$5
preferred (quar.)
Deposit Nat'l Bank
Farmers
Federal
&
Traders Life
Bake
7ft;
Co: of
(qu.)
Co.
Jersey
—
"
$lft
1
I
10-
1
25c
9-
$iy2
Co.,
A
W.)
I—
10-
1
cisco). tq,uar.)a.u—•
First Blink Stock Corp*. (s.-a.)
50c
»
•
30c
Illinois
9-20'
>
9*20
10-
1
9-
Kress
9-30
10-10
9■v
•
...
ft
9-26
9-15
+.
25c
25c
9-
Ltd.,
7%
1
Landis
7%
25c
9-20
10-
$iy8
__
.;:.ft
Co.—
Inc.
$1.50
pf.
9-15
ft
9-
10-20
25c
(qu.)
10-
9-26
37y2c
10-
6
9-30
(quar.)
(quar.)
45c
ft
,
$iy4
10-
75C
7%
pref.
1
5
9-
Co.
2
$1%
(quar.)—_
Parts
(Wise.)
(quar.)
Corp,
9-30
9-29
9-15
9-15
9-
9-15
99-
5
H.)
Co.,
'
Lincoln
.
Lincoln
C^mmoh
8
7%
:
15C
I
,
9-26
ft
9'16
(quar.)_
$i2yac
10-
1
9-15
$iy4
10-
1
9-
50c
10-
1
9- 5
25c
ft
$5c
9-
(Calif.)
(Hawaii)_ (quar.)
Bay
Oil
&
&
Erie
Bell
5;'
(
9-12
12-15
12-12
10-
1
5
9-15
15c
pref.
(qu.)
Co.
Inc.
(quar.)
8-29
9-15
9-
9-30
9-12
25c
6%
9-10
25c
—___
Co.,
9-26
9-11
9-20
9-10
40c
—
2yac
Co.
Refining Co.
t
Mortgage
Corp.
(quar.)—___
Telephone
(quar.)
—_
30c
9-12
10-
8-22
1
9-
9-30
10-
10-
9-19
1
50C
1
9-19
9-30
$$i
5
9-15
IU.)
9-17
9-22
9-10
$2
(MacMson, Wis.)
(Springfield,
2
5c
—
Co.
Tel. Co.
62'/ac
$iy2
Imperial Life Assurance Co. of Can.
'.Quarterly
9-
9-15
$1%
Co.
Corp.
(Harvey),
9-15
$50c
(quar.).
Electrochemical
Mfg.
9-19
60c
(quar)
________
8-26
10-1
50c
(quar.)
9
$iy2
—_
Ltd..
9-30
$iy2
10-
-;.$i.y2i' -10- .1
(quar.)
$$3%
$$3%
-10-
9-19
9-15
1
(quar.)O
*) I
9-24
l-ftf- *9-30
1*2-42 r™^ 12-31
9-
8-30
9-15
9-
5
5
5
9-15
9-
9-10
8-29
25c
10-
10-
1
9-12
$1%
10-
1ft ft
9-15
(quar.)
'9-12
1
9-15
5c
common
9-15
25c
.
10-
*
■";
9-5
1
9-20
9-12
25c
$iya
(quar.)
10-
40c
common
(qu.)
Little
1
10-17
10-
1
9-19
$l'/2
(qu.)
9-15
Special
N.
9-20
9-26
9-26
$1
10-
1
J20c
Ltd.
10-
1
$35c
Ltd.
(quar.)
Loan
7%
Co.
■tlOc
10■
'
.
pref.
(quar.)
5
9-15
8-30
1
9-
9
■c i
'
10-
4$1
ft
9-
9-15-
(Hamilton,
1
9-15
$1%
-ftft-_______________ft
9-15
9-
5
$1%
25c
■
12-15
ft 12-
5
9-15
Lone Star
3
10-
1
9-15
62'/2c
10*
1
9-15
$1
;
10-
1
9-13
$2
____________
&
Trust
partic.
Lorillard
Louisiana
Gas
8-29
15c
Co.
D.
8-30
9-12
8-30
9-12
8-10
$is/8
VMacMillan
9-10
8-25
11-24
9-10
8-25
12-10
11-24
9-30
9-20
$2
1
9-30
9-20
9-11
$114
12-
1
11-20
25c
12-
1
11-20
30c
10-
1
$1%
10-
1
div.)
__;
Co.
Co.
(Del.)
class
9-
37 y2
9-25
8-30
25c
•'
(irreg.)
2*
8-30
9-
8
1
9-20
1-2-42
12-23
9-15
9-
1
$1%
..
10-
1
9-20
$1%
10-
1
9-20
8-30
'i8cft ;• 9-15
fft '
^•i$iy4:-';
(accum.f
:
9-15
10-
25c
(quar.)__
(quar.)_____ft____ft___ft
Corp.
9-25
$2
$1%'
(quar.)
$1%
Ltd.—
9-15
9-15
A
Inc,
Corp.,
9-15
10c
(quar.)
Ltd.
10-
75c
::
Exploration
C6.T
9-16
12-10
(quar.)
(quar.)____
com.
preferred
Copper
9-5
9-15
50c
(quar.)
(partic.
Petroleum
1
9-30
$1.10
(quar.)
Products,
Steel
10-
25c
$1
preferred
Sons, 7% 1st pref.
preferred (quar.)
Mines,
9-15
r ny2c
50c
&
conv.
10-25
9-12
■
MacKinnon
11-1
37MsC
B
Metal
6
10-
87 'Ac
-
Second
2
10-15
C.)
(quar.)
Manufacturing Associates
Co.
6ya% preference
Mabbett
8-22
9-12
9-
$1.10
Elec.
preferred
1
9-15"
1 Fort
____________
Lunkenheimer
6y2%
9-10
10-
Co.
(quar.)Class
8-P3
9-30
9-15
30c
capital
(qual'.)
Corp.—
&
&
8
5
10-15
$1%
(quar.)
Land
Louisville
9-15
9-
25c
Corp.
Co.
9-
50C
(Washington,
8%
pref.
(P.)
8-29
9-15
30c
Co.,
preferred
9-12
$1-%
________
(monthly)
pref.
9-22
35c
„
50c
Co.
Cement
partic.
Macassa
3
10c
ft.
Cement
Ludlow
912-
65C
original
Star
9-15
9-12
5C
Corp.
Corp.,
Joint
8-27
12-12
__________________
Insurance
guaranteed
■
1
8-27
t50c
(quar.)
Life
RR.,
10-
:
t50c
(ouar.)
capital
9-15
$17%c
____
—
Bank
Y.)
Lock
Magma
1
2
9-20
9-30
(quar.
Lone
7%
10-
•
Pipe
Pipe
Lyon
- ft
2
9-
1
9-30
Jersey (quar.)____
Milling Co., Ltd. (final)
guaranteed
Lock-Joint
7%
10-
3%c
New
Products
Miami
Special
5%
9-
9-15
.4
17V2C
com.
(qtxar.)
preferred
prior
Original
5%
8-25
11-
'.'■ft 27C
com
Finance Corp.
Co.
8-25
9-13
$1%
$iy2
pref.
15c
Co,,
9-15
8-29
9-13
15c
,
9-2
1
9-12
30c
(quar.)
(quar.) ft.___________
6% participating preferred <quar.) t~__
v LindSav
Light & Chemical-Co. 7% pf. 1qu.)
.Link-Belt Co., common 6M>%
pref. (quar,)
Liquid Carbonic Corp.
9-16
9-15
6
'8-29
9-20
$1
(quaf.)
Service
8
(increased)
9-30
9-15
(quar.)
Ind.)
9*
com.
8-29
t50c
pref.
.<
National
Wayne,
9-
8*30
9-30
1
&
National
1
9-12
3
11-20
1
of
Co.,
(Syracuse,
1
9-25
9-
1
10-
Mines,
Co.
Salt
10-
9-15
9-19
9-10
9-15
Refineries, Inc.
10-
60c
9-30
12-
10-
Mines,
Fink
&
$iy4
& Marine Ins. Co.
Ltd,
&
ft $1%
25c
9-15
siy2
preferred
CO., common
(quar.)"—
*
1
10c
___________________
common
10-
$iy2
conv.
Leslie
5
9-15
1
9-23
$ 1V4
Woods
Gold
Lincoln
5
20c
—
$4
(quaf.)
Machine
Leath
8-15
25c
9-15
1
25c
Life Us Casualty -Inc. Co. of Tenn.
(quar.)
Liggett & Meyers Tobacco Co. 7% pref. (qu.)
Lily-Tulip Cup Corp. (quar.) ____________
9-12*
9-16
Phila.
Lexington Telephone Co.,
(quar,)
Libby-Owens-Ford Glass Co.
9-18
9-
9-15
9-
25C
(quar.)
Leonard
j.
9-12
1
9-15
9-13
10-
25c
(quar.)
preferred
7%
Lehn
10-15
1
9-15
J25C
preferred (quar.) _________________
Lehigh Portland Cement Co'. 4%. pref. (qu.)
Lehigh & Wilkes-Barre Corp. (irreg.
5
.
$1%
1
$1%
$2.50
9-15
1
1
10-
__________
Lang (John A.) & Sons, Ltd., (quar.)
Langley's, Ltd., 7% conv. pref.
-
ft
(quarj_-
10-
$1 w
Extra
8-29
9-30
10-
$1%
(quar.)
Banking
Lane-Wells
9-15
pref.
9-19
Co.
Co.
RR
the
Ont.)j
9-20
9-15
10-
25c
9-30
(quar.)
Co.
A
Shore
Landed
5
10-1
$75c
1
of
Lamaque
1
9-
15C
(irreg.)
com,
Telephone
class
8-29
9-10
1
8-30
(quar.)
Co.
preferred
Lake
■ft' 9-16
9-20
20c
Lake
8-29
9-15
9-
9-15
i___
Oil
&
Heater
Lackawanna
9-20
9-30
1
9-15
30c
(quar.)
Co.
H.)
12-20
c
9-
$iya
(quar.)
S.)
Crosse
6%
9*10
1
(qu«r.)
special preferred (quar.)
ft'$0.70
8-22
10-
$iy2
43%
6
3
9-15
25c
Corp,,
La Salle Industrial
9-15
1-2-42
$iy2
•
1
9--3
10c
La
9-15
11-25
9-,3
9-
1
t37y2c
Emil)
(S.
6%
Kysor
2
10-
pref.
Kroger Grocery & Baking Co. 7%
6% preferred (quar.)
9-15
8
$iy2,?
Co.
'Illinois ;Na$'l Bank
v
9-15
2
9-
50c
(quar.)
&
Illinois Commercial
'
9415.n 0 0-
10-
6
1
10-
75c
(quar.)
pf. .(cm.)
$6
conv.
Stores, Inc.
Co, 6% preferred
Koppers
Kresge (S.
9-15
$1%
Hyde Park Breweries Assoc., Inc
Idaho-Maryland Mines (monthly)
9-30
...
2
1010-
$l'/4
pref.
(irreg.)
Cotton
(D.
Kobackef
1
$15c
(quar.)_
A
Paper Co, of Can.
Oil
Huron
'
O'-Ubiftfe •jfi
Klein
•■'•;rft.ft ¥
Ltd.
Co.,
Plantation
Humble
19-30
J
i.' li' fl.'-tj
10-
10-
60c
6
9-17.
$iy4
■
$1 Va
Co.
of
9-10
1
Co.—
Gas
Co.
9-
9-24
10-
.
5
10-10
$iy2
^__r
Humphreys Mfg. Co. common
preferred
(quar,)—
9-25
15C
.___i
Fran-
5%
9-22
9-
$100
_________—
Dew,
Hudson's
9-20
rv.u"6%c
(San
6%
.!
Co.
Insurance
Hubble
12-26
9-30
1010-
9-20
75o
50c
preferred B
preferred C
preferred D
Kingsburg
9-22
50c
ft
...
preferred
Paper Co..
(A.)
(D.
Hoskins
9-15
1-2-42
$i
10-
$iy2
(quar.)
Furnace
Monthly
Hooker
5
-15c
(qu.)
9-20
1
7%
2
25c
Honolulu
9-15
9-30
10-
9-
$25c
preferred (quar.)_
(quar.) ____________
Co.
Honolulu
5
9-
*
9-30
9-15
Mills
preferred
8-15
(irreg,)___
common
Y/c
Co.,
Motor
Dauch
Honey
8-29'
9-15
9-20
-$l'/2
6%
8-15
9-15
60c
9-20
9-19
9-30
60c
$1%
.<quar.)
(initial) (quar.)_
5%
Co.
1
Kings County Lighting Co.—..
8-30
9-23
425c
common—
Brewing
Dauche
Home Fire
9-15
$i
class
&
&
Home
9-10
9-30
9-10
9-15
8-29
Co.
Land
Kimberly-Clark
.
9-30
10-
1
9-10
9-
9-10
;
$3 preference
9-30
10-
'9-15
9-15
______
Canada,
Ltd.
(quar.)
7% special pref, (qu.)
Telephone
Kilburn
2
1
V 'J50 ft
Co.
&
:
12-15
12-18
'■
(quar.)
6
10-
25c.
——a
———'
,,
9-
9-
25c
n
Keystone
9-15
$iy4
Corp,-(quar..)_____—
Spencer, Bartlett & Co. (monthly)
Holmes
9-15
35C
—;
com.
Firemen's
9-27
;
8
10-
;v
75c .ft
pref—
Sons, Inc.—
Hollinger Consolidated Gold Mines, Ltd.—
9-13
9-30
1
9-12
62y2c
Rubber
Hollander
9-13
1
$1
class B (quar.).
preferred, .(quar.) —
Fund Indemnity Co,
Common
5Vaft
,
1
10-
10-
9-30
15c
_______
County
9
9-15
______________
Co.
Nat.
Copper
9-
9-30
.
(initial)
& Light
(quar.)
Power
of
11-10
'8-30
$1%
Keystone Steel & Wire Co.
8-28
1
Inc.—
Power
Corp.
Special.
Kern
.
9-13
10-
9-
9-20
40c
(quar.)
(quar.)
Powder
;
9-16
1
25c
—
America
1
10-
$2'/a
(quar.)
At
v
of
10-
$iy2
_
—
,
'.Quarterly
C.)
(Geo.
Holland
$25c
-
Co., 6.% pref. (quar.)
6ft preferred (2d series)
(quar.)
Fifth-Third Union Trust Co. (Cin.)
(quar.),
Finance
5
$lft
Mining & Smelting Co,
Federal Mogul Corp. t—_—T„
Ferro Enamel Corp. V—
(Alarshall)
9-
9-15
40c
1
10•
$1%
$1%
Kennecott
10- 1
8-30
$iy4
9-15
1
siy2
'
(quar.)
(quar.)———
New
1
11-
25c
____,
Co,,
Glass
Hinde
9-9
37y2c
—
(quar.)
(Pitts.)
10-
$iy4
(quar.)
Hinde
9-10
1
3c
Federal
Field
1
8
50c
pref.
Refractories
preferred
Hibbard,
8*30
9-29
9.-
9-15
1
$iy4
(quar.)__—_I_
Theatres,
Co.,
(G.)
Hercules
9-13
.: 40c
—
(ruar.)
Insurance
Shops, Inc.
Federal Insurance
10-
9-15
10-
10-16
9-10
(qu.)
Kelvinator
9-25
1
12-
15c
50c'
(quar.)____
conv.-
Kemper-Thomas Co.,
Tex.)-—
Ltd.—
Co.
Corp.
(D.
Helme
8-30-
\
.
i
9-15
50C
65c
.■-■,45c
...
.
3
37ftc
(quar.)
Fansteel Metallurgical Corp. $5 pref.
Farmers
.
j„
Inc„. com:
25c
(accum.)^ft
pref.
Co.
(accum. I
Gas
Mining
Hewitt
ft 9-10
10-
$2ft
3
11-
50c
(quar.)
com.
(resumed)
B
10-15
30c
v
Kaynee Co., 7% preferred (quar.) ________
Keith-Albee-Orpheum Corp, 7% conv. pref.
Kelley Lime & Transport
9-15
10c
9-12
9-15
87ftc
v
9-
1
City
Electric
9-26
,9-15
250
________
preferred
9-12*
9-30
$1%
Kaufmanh Dept. Stores 5%
2
9-15
$iy2
(quar.)
$6
7%
Co..:
Co.,
Electric
Heileman
9-12
1
9-
10-
$1
(quar.);
$6
'/'J
Paper
Hein-Werner
9-12V
10-
9-24
1
(S.-A.)
Kansas-Nebraska
'
9-10
62yac
(irreg.)
Co.,
9-20
u
(quar.) ft.
,
Society,
1
75c
preferred
Lamp
preferred
Hecla
'
,,
Loan
10-
$6
9-10
common—_
Co.
Co.
preferred
Heath
.
10-
4V2%
jHazeltine
9-20
10^
$1%
Falconbridge. Nickel Mines, Ltd.—
>/ v
Falstaff Brewing Corp. Preferred (semi-ann.)
Familv
1
25c
Ltd.
(quar.)
United
Hazel-Atlas
5
'9-11
10-
'$lft
.
American Railway (s-a)
Co,
(irreg.)_—___—..
Corn.
10-
.
Brewey
Utilities
Cotton
Hawaiian
'
North
Plantation
Ex-Cell-0
5
10-
_____________
Co.,
pref.
Kansas
■
9-16
11-
Co.
Corp.
Harrisburg Steel Corp.
Haverty Furniture Cos.,
:
9-
35c
$lVa
•
;
.9-30
9-20
$3ft
■
:
guar,
11-
common
Co.,
$6
convertible
6%
'
&
11-15
$1V2
—'
■
Water
?'! Harrisburg
9-30
,
9-30"
»'•
56ftc
.
class A
Pittsburgh R. R. 7ft
European
5
$iy2
Harbison-Walker
-10*20
•
9-20
.
^
v
:>40c
,,
—
,.
nonTCum.
&
1
10-15
;^60c
common
(quar.)
(quar.)
English Electric Co, ^of Canada,
11-
$1%
Co.
Die
&
Watch
•
■
9-20
10-15
$1 ft
'
Erie
11-
-
-':t75c
preferred
(s.-a.l
'preferred; series Afouar.)—
Engineers Public Service Co." $6 pref. (quar.)
preferred
6
8-14
35c
Copper
Hamilton
9-20
1
$1%
.(quar.),.
$5.50 preferred
4
9-.
>
1
-10-
$lft
7ft;.
$5
11-15
9-15*
V/2C
Inc.
preferred series A
Kansas
6
(irreg.)__
Oil Corporation
i. Hammermill
9-10*
10-
:4$1 y4
•
-4Vaft
"
9„
9-15
10-
-
1
9-12
25c
(quar.)
6
9- 9
„
9-22
$1
$2
10-
11- 1
2
9-30
1
$1%
(quar.)_
& Supply Co. (com.)
6% preferred (quar.)
Joy Manufacturing Co. (quar.) ___________
Kalamazoo
Vegetable Parchment Co.
(qu.)
8-30
9-
1
Inc.—
Joslyn Mfg.
8-18
9-15
$iv2
(accum.)__
preferred-—_____
Hamilton
ft
9-15
$1
preference
Wire
M.)
■
40c
preference
F.)7 Printing
Co. ,
Hamilton
6
9-
..
9-30
50c
20c
(Dallas); (quaV.)
(quar.)_—
Casualty Co.
9-
pref.
Co.
5%
9-10
$1%
Co.
(W.
9-15
1
$l'/2
Emporium
'
10-
(C.
Hall
9-20
$1
A
(Houston,
preferred
Haloid
25C
$1%
.
Co.
Co.
States
Hall
9-20
..
1
25c
-
Power Cofp, $6 pref.-.(quar.)
cumul. participating shares
$2.25
10-
t35c
^
Natural .Gas Co.
Paso
Empire
1
10-1
,
t30c
(Del.), .75- pref. A.(qu.)
Pref.: B.• (quar,.).-
10-
$iy8
7%
Co.
series B
9-30
10-
35c
&
(new)
4
TO-
$1%
25c
5%
25c
Co.,
Common
9-10
1
Co.—
Western
No.. 1
$5.50
8-30
,75c
50c
______
(quar.)_
Tea Co. Inc; (quar.)
Corp,, com. (irreg.)
7%
preferred (quar.)
Jones & Laughlih Steel Corp.—= •
8-30
10-
/
25c
common.
Co,,.. Ltd,
Sugar
(B.)
Power
Gulf
9- 5
,
;. 9-15
'
;
5% preferred .(s-a)r, —_^_1——-i-—
filmira & Williamsport R. R. Co. (s-a)
6ft.
1
funds)
Johrls-Manvllle
8-30
9-15
ft 9-15
c
75C
Co.,
Cananea
ft Hackensack
8-30
t
El
10-
S.
Stores,
Sulphur
preferred
9-10
9-
9-20
Canada—
ft Jewel
8-30
.,;
Ry.
Tap
preferred
Gulf
9-15
—
Co.
9-15
;
;'V ;: (Quarterly)
5
9-15
i1'.
Co.
R.
2
8-30
lc
.','ft, ft'.ft
7%
9-22
10-15
(quar.)
E.)
10-10
40c
(quar.)
(quar.)
A
<C.
Lake
9-17
9-26
Corp,
Supply
preferred
$5
Jefferson
2
9-
13%
Ins.
Western
Group
2
9-
9-29
(quar.)
Mfg.—
Trenton R.
9-
1
62ftc
■
&, Light
National
Elizabeth &
9-
i2y2c
(quar.)
partic.
Life
Griesedieck
9-15
30c
_
Corp. $6 pfd—
v 87
second
pre'errel A____—r_—.
Electric Storage Battery Co, (quar.) ,;i—
Eiectro'iux.
Corp.
__;.j—
Electric
1
1
9-15
Water
Jamieson
2
10-
(quar.)
Rubber
partic.
preferred
$6
9-15
1
37y2c
*
Edison
B
Greening
j.< 8-26
10-
A
class
7%
9-15
9-15
.
$lft
$lft
..
class
9-
9-30
10-
Co.__4_____
Paper
$2
Greenfield
9-15
,
9-10
,
t$l'/2
_
(quar.) rj,
com.
—
Paper Corp,
Bros.,Stores, Inc.,
Eddy
50c
■
1st pref.
Co. 6ft
of N;
Co.
9-15
___
Fisheries
Lakes
Great
prior
.—
Street Ry.
Mass.
Eastman
9-15
9-30
$1.37
_____
Corp.
&
So.
9-15
1
+75c
Malleable
Eastern
class
Co.
Manufacturing
Greene
1
$iya
.y
'
9-30
Jamaica
1
50c
Co.
Co.
8
5
10-
9-10
(increased)
Trust
9-
9-
40C
Jaeger Machine Co.
5
12%c
(irreg.)
Irving'
t
9-15
10-
$1V4
:
preferred
9-
9-15
1
Co.
Northern
8-25
.$ift
.
—
Common-
5
68 %C
(quar.)
Quarterly
10-10
„
Silver
Vitamin
2
1
tiyac
__
Department
9-
9-22
$1%
__
Telegraph Co.
Co..
7%
preferred
(ou»r.)
Interstate Hosiery Mills,
Iron Fireman Mfg.
Co.
,
5
9-
t$iy4
___
(quar.)
Tire
conv.
Great
8-30
10-25
preferred
.
;
ft/ft
(quar.)
Stock
&
Great
8-22
$1%
in U.
Salt
International
9-30
9-
(irreg.)
Insurance. Co.
(quar._ '
$2
9-25
9-10
(payable
10-
75c
(quar.)
of
9-15
1
9-16
25c
_—______
(quar.)
Co.. (irrcg,)_
Ltd. (inter.)^
Co.,
Co,
Co.
International
9-22
1
17V2C
■
Tubes
1
9-15
tl5c
;
_l_
Signal
Coal
Gorton*Pew
9-15
f
1
$iy8
4'/2%
_ft
Advertising
Telephone
Falls
Great
f
1
9-10
10-
Coke
Ocean
9-10
9-30
1010-
•
37 '/2c
^___
common
common
Refractories
Gorham
9-15
10-
9-15
9-15
(reduced)
(quar.)_____
Railway
Goodyear
9-20
10-1
10,
9-15
87»/2C
Machines
Machinery
&
International
9-15
1
1
$1^4
(quar.)
Alden
(5
9-16
10-
'
6ft
••
9-15
,
1
10-
10-
$iy2
4
•,,
Theatres
Equipment Cox-p
Georgia Power Co. $6 pref. (quar.)
$5 preferred
(quar.)
Gillette Safety Razor Co. $5 pfd, (qUar.)__
Girdle
Corp.
(quar.)
Co.—
&
Associates,
.(quarterly)
pref.
9-15
9-30
8-30
25c
_________—__________
Fuel
1
50c
,
Gas
1
10-
$1%
—
'$4.50
Eastern
9-30
10-
75s
(quar.)
preferred(quar.)
Duquesne Light Co. 5ft preferred
Eagle-PitCher Lead Co. common
6ft preferred (quar.)
'.ft'**
Telegraph Co. (quar.)__
Goldblatt Brothers, Inc. $2 conv. pf.
(qu.)
Golden
Cycle
Corp.
Goodrich
(B.
F.) Co. $5 pref. (quar.)
9-15
10-1
$1%
————
Nemours
(interim)
Common
,
1
Cammon
Business
International
9-15
10-
.
15c
General
Gold
1
$3
$lft
Mfa.
10-14
1
9-
10c
(quar.)
Electric
Duncan
6
$1%
Extinguisher
Co
Inc. 5% pref. (quar.)—
preferred
Glens
10-15
60c
com,
9-
1
25c
(quar.)
Outdoor
$2.50
Glen
75c
Inc.
9-27
50c
common
(quar.)
preferred
•
9-10
>
8-30
10c
„
—
Power
Nickel
;
_________
preferred
8-25
1
10-
—
(s-a)
preferred -(quar,) ft—
Co,; 'Common.*
preferred (quar.)—
7ft
Duke
8-30
8-30
15c
>_——_;———
common
International
_______
:General
9-25
10-
$1%
(quar.)—
Co.
Driver-Harris
Dun
(initial)
A
G
Interstate
(quar.)——
preferred
General
8-30
$ $ 1 ft
__
-
Co.
9-
tl%
(quar.)
(quar.)
pref.
Co.
Motors Corp.
.
:ft
11-
______
class
Co.
Paper
9-27
10-
10-
pref;
'
Harvester
$iv?
Globe'; Steel
;
Rockaway R. R.
;
8-29
9-19
$1
(quar.)
com.
International
$iy2
Extra
6%
ft
$1%
(quar.)
(initialt
B
&
Dover
Ltd,
Co.
(quar.)
preferred
Co.
Pepper
3
_____
(quar.)——
Textile
Dominion
5
9-
(quar.)__r___J_
Power
General
8-29
9-15
62'/2C
(quar.)
Shepard Co. (irreg.)____—
Tar &
Chemical Co., Ltd.—
A
class
$2.50
9-
9-22
Inc., $6 conv. preferred——
(Julius)
& Co. common
(quar.)
ftf; Preferred
8-29,..
4
10-15
25c
,
9-15
Coal
(irreg.)
conv.
preferred; (quar,)
Container Corp.
General
9-12
,•
50c
'*■
$6
General
•
9-15
455 '/2c
—
Twin
Dixie-Vortex
Cigar
International
3V/2C
(quar.)
(quar.)
common
(Atlanta, Ga.)
common
Co.
Mills,
v
,8-30
9-15
,
50C
Alkali
1
9-15
35c
$lft
Diamond
International
(qu.)
pref., (quar.)'______;
Fire
9-20
9-15
r
35c
Co., common I—-r
B
Class
'
International
9-10
25c
General
>
9-20
10-
25c
Co.
1
10-
:
$i%
(quar.)
Almy Chemical
is.
Dewey
.
25c
(quar.Ji—
pref.
conv.
Co.,
7%
Co.,
Co.,
'
f Class '
9-10
(qu.)
pref.
7%
Co.
9-15
■
General
9-20'.
1
Steamship
Copper
9-17
9-12*
8-22
Louis),
(St.
Lynn,
50c
9-15
_______
i 25c
(quar.)-—.
$7
A
Bottlers, Inc., $0.55 conv. pref. (qu.)
Box Co. (quar.)
Candy Corp.—
$2.50 conv.
pref. class A (quar.)
General Cigar common (quar.)
1
12-20
9-25
9-10'
> '
class
Co.
of
Consolidated
11-20
'25C
1
1
9-10
$1
1
;
10-
Co.
Ravon
Interlake
3
1
10-
—
Induitrial
910-
$iy4
(qu.)
________
Corp.
5
9-30
$1.31'/»
_____
ser. A
■(quar.)
8-15
12-
General
12-23
(s.-a.)
Trust
&
9-
10-15
20C
Credit
Inspiration
25C
6%
General
11-20
$1%
'
.
class
1
11-
$2
______
RR
10-
Bank
(quar.)
9-20
9-30
40c
(initial)
Industrial
8-15
9-15
;
06%
,
General
2
75c
/
Co.
Co.
9-
9-15
50c
(annual)-
reg.
Co.,
5'/e%
ft
9-16
9-2
9-15
A
25c
Can., Ltd., class A
Co.
5'/apreferred
-
:—
_____________
Products
7
of
Brewing
conv.
1 5ft<
9-16
10-1
10-
10-20
10-20
Class
$iy8
'
Gaylord
9-15
$1%
Southwestern
&
.....
-.
ft 9-15
5C
•:
Corp. '_
5
8-28
9-30
"•
«
:
Hillsdale
Detroit
_lft-1. ft,
'II.
m.
(quar.) ftj.—
Detroit
: $25c
87 y2c
,
pref.
9-10
'.■/'.•-IPC'"'
—
3
ft 9-
9-15
/'
loc
•
$1
of
Supply
;50c
:•
—
'-"J
:
—
(s.-a.)__—-i-—i
Inc.
.
Dentists'
'
(quar.)
& Michigan RR
preferred
(quar.)
Dayton
'Delaware; Fund,
i;
(irreg.) "L__—
Inc.
tW. H.) Steel Co. (quar.)
& Frere, Ltd., class A. (quar.)
1
17'/2c
.
$6 convertible preferred
Gamewell
6ft
9-
11-
lift. 1
2'/2ft>
*
ord.
National Bank
Garfinckle
9-13
9-30
9-26
2 V2 %
(quar:)
■
Brush
Gatineau
35c
1
1
25C
(qu.)
County Distilling Co., Inc.—
conv.
pref.
(quar.)___
Steel
-
(Sah Diego)
(quar.)
;.
Gannett
-ft'-ft;
10-
10-
Jndianapolis Water Co. 5% pref.
I
Kleiser
reported in our new announcements last
was
intended for the Continental
& Fisher Stores
$2
(quar.)___
(Lexington, Ky.)
1
410c
__
Indianapolis Power & Light Co.
Indianapolis Power & Light Co.—
•>
5%%
preferred
femur.)
4
10-
3%
preference (s.-a.)
Common
(interim)
Industrial
Wheeler "Corp.
Fulton
week
Daniels
6-
31!4c
Co.,v Ltd.,
(Peter)
Fuller
2
Curtiss-Wright Corp., class A (increased) __
s
Correction:
Dividend on 7%
pref; stock
B
&
Franklin
8-30
Cutler-Hammer,
1
of Rec
75c
•
11-22
9-
Bk.
common
Co.
Extra
■
•
8-29
Davey
10-
Co.
Motor
Foster
■
9-28
12-
9-15
•
$2
(qu.)
(quar.)
Co.,
\ Class-
9-16
9-30
$2
.
__
9-15
.'.;■"
9-30
(Pittsburgh)
«fe Savs.
preferred;
Foster
9-15
9-30
$lft
10-1
Corp.
1
Holders
Pay'ble
6%
Inc.—
Motor
Ford
1
$1
*
10-
When
Share
of Company
Imperial Paper & Color Corp. (irreg.)___
Imperial Tobacco Co. of Canada, Ltd.—
Y.)—
N.
,
Stores, Ltd.—
preferred (quar.)
Flintkote
8-30
75c
"<■'
9-30
shares, bank stock series
'Beneficial shares, insurance stock series__
Foote-Eurt
9-10
$iy8
Curtis
10-10
Beneficial
Ford
Press, Inc. 4%% preferred (quar.) —
Publishing Co. prior pref. (quar,) __
Cuneo
$2'/4
(Mt. Vernon,
Bank
Tf.
Fund,
ft "j $4.50
1
20c
pref (qu.)
Co.- (extra)
R.
(quar.)__
(North Eastbtl, Mass.)
preferred
7ft.
9-10
10c
Port Clinton R.
&
Culver
9-20
Fitzsimmons
10-15
10-
(ounr.i—_
Crum Sz Foster Ins. Shs. Corp; 8%
.
12-15
11-
__
conv.
7,.
9-15
10-
75c
:_
5%
5ft
Fiscal
9-15
1-2-42
50c
—_____
Co.
of Amcr.
Co.
9-20
1
$1
National
.First Nat.
9-15
$1%
$1%
$1%
(quar.)
(quar.)
Cork & Seal Co., Inc. $2.25
Crown
1
10-
(quar.)
(Quarterly)
,
8
10-
$1%
(quar.)
(quar.)
Company, 5% conv. pref.
Creameries of America, common
Crane
Croweli-Collier
Bank
10-
$iy2
Pa.)
First Nat. Bank & Trust Co.
9-15
$1%
Steel Co. common
Copperweld
First
•
5
1
(resumed)
common
99-
9-15
10-
________
prior preference (quar.) _—___________
cumulative preferred series
$3
8-29
9-20*
8-25*
25c
'
'
First Nat.
1
Bank,
25c
Per
Name
of Rec.
25C
(Hazleton,
(quar.)
Pay'ble
(quar.i____
Ga.)
'
common
Corp.
Cooper-Be3semeil"
National
Common
9-15
10-
$5
25C
(quar.) '_—_—
preferred
Nat.. Bank
10-15
(quart)____
(quar.)
Continental Tel. Co. 7% partic. pref..
6 Va %
(Hartford)
$iy8
7%- preferred
-■>
(Atlanta,
Bank
1
—.
Corp.,
Bank
National
11-
'
Oil Co.
Continental
National
First
50c
Co.
Fibre
Continental-Diamond
First
2
$2
(special)-.
pfd.
8%
Co.
2
9-
$ 1 ft
$5 pref. " (quar.
$4.50
preferred: (quar.)__:
___:—;____
Consumers Gas (Reading, Pa.)' (irreg.)—_
Continental
9-
9-15
Holders
When
Share
of Company
9-15
$1%
(qu.)
(qu.)
pref.
8%
Stores,
Co.
Power
Consumers
$7.50 pf.
Name
30c
______
———
_
Laundries Corp.
Per
of Rec.
Pay'ble
20C
Trust ft (quar.)
Investment
Consolidated
Share
of Company
Holders
When
Per
Name
63
____r___
;
.30c
"
50c
•
9-15
r
i8-30
9-17
9-,5
9-15
8-29
64
FINANCIAL CHRONICLE
When
Holders
Pay'ble
of Rec.
Per
'/•■I
Name of Company V;..
Magnln
&
Mahon
(quar.)
Co.
Share
•'
15c
(R.
$lVa
15c
Consolidated
Marion-Reserve
Marshall
67c
Marshall
&
Extra
'
6c
9-15
8-30
9-10
8-25
25c
9-10
(irreg.)
,11c
9-20
60c
9-20
9-
(quar-,)-,,-,-*.-,?-;-—r**-
10c
9-15
9-
Matftiesbft
Alkali-".WoVks
-
Inc,
(ti6thmbrt;i
9-30
11-29
9-30
t3c ■
9-15
McKesson
&
Robbins,
Inc.,
9-
;.l, -wben
Co.
Menge*
emerged, from
company
/ izatioiv to Sep*.
■
when
15,
Oncario
Northern
8%
,
Mesta
Oil
Metal
1%
Thermit
&
preferred
'
(irregular)
r«?ty
$7- cum.
$6 prior
(
pref.
/
pref.
8-30
1
9-30
$l3/4
—
,r
$7 prior pf.
•
i
(quar.)
!
9-
10-
$l3/4'
(quar.)
(quar.)
(quar.)'
1
1
1
9-
1
9-
2
cum.
pref.
$1 7a
10-
1
6%
preferred
junior
;$6:
Michigan
Midyale
1940
(quay.)
of
Inc!,
9-15
.lo-.l
9-15
Chicago,
;
$7
pref.
preferred
'
.r6«%
Mock,
Gas
1
9-15
8-25
25c
9-10
9-10
8-30
Preferred
A
(quar.)
9-15
9-
Preferred
C
10-
12-20
1
10-
TO-
■
9-icr
WVzc
(quar.).i
10-
$20c
;
Inc..
9-20
9-20;
9-10:
;8-30
<
—
Life
A'(semi-annual)
$4.50
preferred
$4.50
.'
—)
Ward
Montgomery
*$7: class
A
—
'•
-
17c '■ preferred
Montreal
Moore
2
-Quarterly •'
-
$1%
io-: 1
f$l
9-15
•
_—_
17c
common
;
Goods
Co.- (qhar.)__uCo.
Co., Inc. (increased)—
Consolidated,
Inc.—
(quar.)
Corp.,
Finance
Wheel
Works
6%
i
Myers
E.)
Nash
Kelvinator
,
9-
9-29
9-10
9-15
V(-
Co.___________
Corp.
;■
Bond
Invest't
"9-18
12-27
$6
12-18
preferred
9-26
75C
National
Casualty
National
City- Lines, .Inc.,
9-
.'Crass
$3
A
National
10-
:
(quar.)
Corp.
National
5% ' preferred
National
Elec.
Corp.
National
67c
pref.______
"
V
Nat'l
Co.
Co.
(quar.)
Supply
67o
Co.,
N.
!
Paper
5Va%
Co.,
Lackawanna &
York
Newark
&
Newberry
Newmont
Transit
common
1
(J.
J.)
Mining
Co.
RR
& Lake
(auar;)
[-15-42
9-30
9-15
1
8-30
10-
9-
9-20
t$l
■
____
__
75c
—
(quar.)
10-
Inc.
Co.,
Accident
Dome
Mines,
Oamble Co.
&
5%
-
10-
$1
:/
9-15
1
9-30
12-15
10c
Rv.
Co.
9,
6
8-22*
9-25
9-10
9-25
9-10
10-.1
9-23
9-12
50c
10-15
9-30
t$23/4
9-30
9-19
9-30
8-30
9-15
2
8-30
9-30
9-20
12-31
12-20
Corp.
9-15
8-30
t75c
(quar™
of
99-
10-15
3c
of
N.
J.
8-25*
9-15
48-30
9-30
9-10
$l3/4
15c
9-30
9-15
9-10
8-20
11%
9-15
8-30
;$iy4
10-
1
9-
5
Inc.
Pure
Co.
60c
676
pref.
57c
nVaC
Red
Reed-Prentice
9-15
9-16
8-29
Indian
Oil
8-22
,
8-15
9-15
50c
9-26
9-15
_—
50c
9-26
9-15
9-15
9-
5
9-3 9
10-
1
25c
9-15
(quar.)
-
6V2%
Co.,
preferred
8-23
1%
pref.
10-
1
9-10
10-
1
9-10
$iy4
■
10-
1
9-10
20c
Portland
_—
.
•
9-
11-29
25c
9-15
87 VzC
$iy4
$2%
37»/2C
50c
50c
50c
10-
10-
1
1
Ins.
9-
9-
5
5
9-15
9'.'
8-21*
9-25
9-
4
9*
4-
15c*.
""c
'37 '/2c
9-16
9-11
8-21
10r
9
9-15
87M.C
10-1
J2-
1
Oil
9-15
Co.
Co.
$6
1
10-
1
9-10.
9-15
12-
1;
1
11-20.
_10-
1
37%C
9-15
.'9-15
■
8-20
,/
t$l
9-15
8-30
9-30
r 9-16
l oe
9-15
t50c
Cement
Co.,
10-
1
$1%
______
10-
8-30-
9-20
,
1
9-15*
35c
10-15
10-12.
n
9-15
$2
9-15
com.
$1%
40c
.
15c
9-15
9-10
9-15
9-
5
8-23.
9-
5
$l'/»
Indiana
of
preferred
5 7e
5 7c
preferred
Sterchi
Bros.
(quar.)
1
9-15
8-15
9-15
8-15
9-15
8-15
9-15
S-15
9-
60c
9-
25c
(quar.)
_
9-15
Strawbridge
&
8-30
8
2
9-15
8-30
$l'/4
10-15
9-30
Wks.,
40c
Oil
Sunset
Co.
Ltd.,
7%
9-30
9-15
12-15
9-30
9-22
9-
4
t$l
____
___________
10-
1
Mining Co., (reduced quar.)
Paper Co,
Oil
9-
9-15
8-25
tiy2c
9-15
9-
5
25c
9-30
9-
li
30c
9-15
8-30
40c
9-15
8-29
______
common
Ltd.,
(irreg.)
com.
___
bearer
30C
~
com.,
(quar.)
t7c
_I
A
9-
2
8-16
9-30
9-15
9-30
9-15
50c
9-30
9-15.
.___
25c
(quar.)
(James),
Inc.,
participating
preferred
(quar.)
1
10-
1
__
9-15
68%c
10-
1
,9-15
Gold Mines
(qiv>r.)_:
Telephone Bond & Share Co., 7% pref.
$3 first preferred
-
__~I
preferred
(Continued
25c
9-10
8-26
9-15
9-
8
9-
9
10-
1
t28c
9-15
8-28
9-15
8-28
III"
Corp., (quar.) ___/
Gulf Sulphur Co.
Oil & Eand Co.
$3
60c
110c
112c
Corp.
25c
50s
9-29
10-
1
9-12
9-
5
50c
on
Page
____
48—Section
9-15
fi-
IOC
(quar.)
I
9-17
HI"
Co.
Tesk*Hughes
Co.,
9-15
11-
iftc
Inc.
Stove
9-30
$iy4
common
'
Texas
1
9-30
50c
(quar.)
preferred
9-
10-
5
35c
Extra
Extra
Talon,
9-15
9-15
25c
Tacony-Palmyra Bridge Co,,
57a 7c
8-22
25c
(Quarterly)
Talcott
5.
12-31
$1
preferred
(quar.)
(irreg.)____/
Corp.,
Swift & Co.,
(quar.)
Sylvanite Gold Mines,
Class
9-15
15c
(quar.)
Sutherland
Swan-Finch
9-
9-30
*11/4
pref.
(quar.)
Oils,
Sunshine
Co.
9-15
20c
$1%
Inc.,- 67c
Clothier,
►
8-30
9-15
Stonega Coke & Coal Co.
11-15
12-
'37 '/2C
(quar.)
common
(quar.)
Stores,
Strouss-Hirschberg
Texas
8
12-15
'25C
-__
preferred (quar.)
Texon
9-
1ft-
8-30
"
(irreg.)___
Lithograph Corp.—
-
'
9-17
2
1
10c
(quar.)
Stecher-Traung
57c
9-
—
Kentucky
of Ohio
9-10
9-15
25c
(quar.)
9-20
$iy«
(quar.j___
9-15
$l'/4
$11/8-
__
37y2C
57c
:
11-20
13-
62 %c
C0.7-(Dallas)--(quar.)
of Kansas
Oil Co.
_
'
11-20
30c
_
pref., A
Telephone Co.-—'-
California
of
of
Co.
Oil
Standard
Tennessee
8-31
9-22
12-
15c
Inc., common
(quer.) -
Co.
Standard Oil
Thermoid
t$l%-
1
25c
Oil
Standard
9-18
5
10-
0-30
l"c
Standard
Tappan
8-29
1
Ltd.—
(accumulated)"
5-z;
9-
•
(quar.)
Brands,
'
9-15
pref.
Staley (A. E.) Mfg. Co., $5 pref. (quar.)
Standard Brands, Inc., $4.50 pref.
1
8-29
1
9-
(Quarterly)
1
11-1
10-
2c
(quar.)—,—!—
11-
9-
25C
8% preferred (quar.)
Sparks-Withington Co., 6% conv. pref. (qu.)
Poencer, Kellogg & Sons, Inc. (quar.) ____
Spencer Trask Fund
Spiegel Incorp. $4.50 conv. pref. (quar.)
8-29
9-25
$iy2
______
Corp.
9-15
$i
—
(quar.)
(quar.)
Co.
(quar.)
Corp.
Grain
9-15
R-22
*1
(Irreg.)
Regept KpiUlPg Mills preferred (quar,)--—
Reliance
'
$1%
$1%
_________—_
-(irreg.)_
Radio Corp. of Amer. $3.50 conv. 1st pf. (qu.)
$5 preferred
B (quar.)
_____
__
Rath
Packing Co. 57> pref.
(semi-annual)
Raybestos-Manhattan, Inc. (quar.)
Rayonier,
Inc.,
$2 preferred
(quar.)
Reading Co. 47c non-cum. 1st pf.
(quar.)
9-
1
9-15
10-15
$iy2
pref.
67c
preferred
(quar.)
Quaker State Oil Refining
9-26
Life
8-15
50c
2
2
9-15
8-16
9-30
S'techer-Traung Lithograph Corp.
50c
—______
Manufacturing Co.
Oats Co. common
preferred
Co.,. 7%
2
8-15
9-
9-
9-15
*V
2
8-15
9-15
9-12
9-16
in-'A
(quar.)
preferred
>-
9-13^ "
8-237
100.
/quar.)/
8-29
:
(quar.)
preferred
Pyrene
gtd.
(irregular)
Gas
Associated
Southwestern
Sun
5xU7o
Tel. -Co»,
Southwestern
"
9-15»
2
9-13
'
Edison--Co.r Ltd.—
Royalty Co.,
preferred
9-27
34c.
9-
9-15
9-
9-10
(qu
;
9-
9-15
8-25t
9-22
9-27 -
9-10
Platinum-,(irrcg,)_/
9-30
9-15
9-15
5c
9-30
>2
8-25
5
9-7-2
-
9-30
$1%
9-
9-22
_______________
Standard Wholesale Phosphate & Acid
Inc.
(quar.)
$iy4
(quar.)
9-13
10-
1
75c
10-15
5.
$6
:
8-30
25C
Power
Natural
;
10-29
$1%
Co./-(quar.)_K_'.
(quar.)--
B
"
9-15
'-,$1%
.
55c
,
voting
*0-1
$2
10-
—
(quar.)
,Common non-voting
(quar.)
17c 1st preferred (quar.)
Original preferred
(quar.)
2nd
3«C
Southland
9-20
1
1
Corp.
Pullman,
common—
9-15
1010-
$1%
preferred
(quar.) ______—
preferred
(quar.)______
——
67c- preferred
(monthly) —;
67c
preferred
(monthly) ___—k
______
Oil
8-20
$lJ/4
17c
?5
Publication
,
37'/2C
(qu.)
(qu.)
common______—w__
(ouar.)
preferred
1
Co.
•'
9-30
25c
'25c''
f VU,
$iy4
Okla.,
(quar.)
Service
10-
Iron
St
Atlantic
Standard
9-10
15c
clas3
9-30
9-15
$iy4
;
pfd.
1
5
8-11
10-
t$iy2
Gold
California
Southwestern
7 $4.50
De-
9-19
9-15
9-
t87'/2c
_I
Society
Savings
of
Co.
preferred
Common
$1
fs.-aT"
(quar.)
,
&
5% prefServ. Elec. & Gas Co., 17c pref.
87c
9-12
8-29
Loan
67c
Prefer re
&
.
Standard
12-15
9-19
t5c
'
common
preferred
9-15
9-15
20c
(quar.)—
Ltd.
(quar.)___
pr**err«.i ("U»"-.)
common
Service
Public
9-21
50c
Ltd.—~
West.
troit,
$5
10-JIO
10-" 7
6%
9-10
1
$1%
—
5,
9-
10-10
9-15
$1%
________________
Inc.
Alexander,
3
Erie RR Co-
Public
9-20
9-15
Southern
8-26
2-1-42
tlOc
1
.
preferred
American
Southern
8-15
1
HO/
tr
-
2
1.2c
EngineeringOil Co., Inc.
Corp.,
67c' Conv.
9-10
1
9-12
11-
; tioc
__
9-20
•
Quaker
Co.
Bloomfjeld
2'/4C
.
_—
Mines, Ltd., (quar.)
of Brit. Col. (quar.)
8-30
Co.—
New York & Queens Elec. Light & Power Co
Common (quar.)
i
New
10-
25C
2>/4C
(quar.) _________________
Prudential
Investing Corp.
_____________
Public Nat. Bank & Tr. Co. (N. Y.)
(quar.)
10c
New Jersey Zinc Co.
New, York
50c
_
Provident
t$3
pref.
prior lien preferred
Laundry Co.,
preferred
(accum.)
(quar.)
(quar.)__
Procter
50c
Method
pref.
cla66 A
9-
"
9-10
9-15
10c"^'
Cot-_«_Z1____^.
$6 pref. (quar.) _
Greyhound Line^ Inof/(quat.J^
-',6%. non-coov. preferred-(quarr) -tt=attw^_r
9-20
___—_________________
9-15
9-30 .'
11-1
Ltd.
Paper Mills, -Ltd.), 67c pref.
&
prior
Soutliwest
8
25c
prior
r
\6Vz7c
9-
1
■
2
1
10.
^$1.38:
Colorado
1
10-20*
r*,:$2_
Pho.-.phate Corp.-
10-
10-20*
750,>
,
Co.-/(quar.)_/_J__J__ •< /
G.)
Southern
10-
1*
1
1
12y2c
Southern
$iy4
9-
9-15
11-
750
2
$iy2
-
.
-11-
: L 25C'
(quax.)
8-15
1
9-10
$1
9-
9-10
9-15
$1 y8
South Carolina Power Co.,
9-20
10-
8-30
Inc;
Corp.
Tool
9-15 3
nv2
___________
2
75c
$A, prior-lien preferred
New. England Telephone & Telegraph Co.
New Idea,
Inc.
*
;
New
1
1
9-23
8-30
Southeastern
Inc.—
Co.,
___
87c
1010-
1
9-15
; :..45c /
(irregular)
'
Vacuum
60c,
9-10
1
10-
9-10
12.'/2 c X V
(Houston, .Texas) ., (qu.).
(Nashua, N. H.). (quar.).'; '
Castings
Inc.
Sonotone
8-30
t2c
Co.
Mines,
Socony
8-30
25c
•
-
'
-•
Products
9-
11-1
-
50c
25c
;. ,
Common
$7
,
$2 Mi
New England Public Service
9-22
1
9-15
Sons,
Snyder
9-17
9-22
9-10
10-
25c :
$1%
.
Packing Corp.
Snider
9-25
i
9-10
10-1
•
$1%. Z
(quar.)'";.
(quar.)
(Howard)
"
8
tic
____
,
;
preferred
___•
Tool Co.,
common (initial)
Brothers, Inc., (quar.)
Nekoosa-Edwards
1
; 9-10
1
/ 10-
$3
.
(quar.)
Sloss-Sheffield Steel &
$6. preferred
(quar.)
9-22
9-30
10-
&
&
Steel
South
■
25c
50c
(quar.)
9-
H.)
prior
National
Neisner
9-
:10-15
50C
l'
8-20
'
;
50c j
(Concord,
(Penn.)
'
__________
Mines
East
Preston
Public
10-
i2y2c
'
National .Steel Corb.
(quar.)_
National Steel Car Corp. (ouar.)
Nat'l
1
50c
Power
Gold
&
Preferred
.
10-11
8-30 :
9-10
10-30
50C
(quar.)
Bank
Capital
(Quarterly),
10-
$1-
•
Tank Co.
preferred
1
2c
(quar.)
1_
State
17c
Pof'drell
1
$iy2
■
•
9-10
$1%
Standard
40C
'
•
9-10
1
50c
(Frank
Gold'
Smith
9-15
9-15
10-
$iy4
,
Mach.
Co., common (quar.)
preferred A (quar.)
preferred B '.(quar.)
Nat'i' Malleable &. Steel Casting Co., (irreg.)
.
1
10-15
10-
17c
Extra
10-
50c
30C
50C
:
'
i
$1Y*
1
10-
$1%;.
..
./ 50c
(Del.)
.
9-15
*1
(quar.)
Co.
Sloane-Blabon
9-15
1
.
75c
1
t60c
-
(quar.)_
Lead
National
1
10*
$i%
Irota!iurgical Co., Inc. (irreg.)National Bank
(Pa.)
(quar.)__
Pittsburgh Plate Glass Co.
—
Pollock Paper & Box Co.,- 17c pref.
(quar.)
10-
67a
.
8-29
10-
«
-
9-25
20c
(quar.)
"Welding
10-11
,
9-15
25c
common
National Folding Box Co.
1
(quar.)
Brewing Co. $3.50 preferred
Common
20c
___i—;—'
Discount
1
11-
-9-15
62VsC
9-15
9-25
;
10-
$1%.
Corp.,*: class
Skilsow,
9-15
10-15
Pittsburgh
8-30
II-
1
1
cf;
..$1%
,
2
9-
9-15
10-
Pittsburgh
8-29
9-15
75c
(Del.)
Department Stores,
6% " preferred
9-15
50c
_______
Dairy
National
Sisco
5-5-42
10-
.
(quar.)
Pittrburgh B«ssemer
■V 9-15 '
25c
Cylinder
Gas Co
Products '
National
9-15
1
30c
9-30
9-30
,
(quar.)_.
Co.
(H.)
Sivyer
5
25c
12-20
/ ■ 12-26
,75C
12.
______________
.pref.
:
9-24
10-
(quar.X '
■
/
$iy4
j
(quar.)
Gold
Pittsburgh
9-10
25c
(quar.')___ >,
*
.preferred
Container
National
10-1
(qu.)
(increased)
Corp.,
D«irv
Crow
Pioneer
9-10
-
,
pref cl. A
50c
;
(quar.);;.'^^™^^;.'.,;
.
8-29
■
9-30
v
2J
9-15,'
11-
I
50c
Ltd.,-com.-(interim)-/"'. * disc •
17c- preferred
• (quay.)
-$$jy4;;
Simonds Saw '& Steel
'goc ; ',;1
12-15
/35c 5-14-42
Co., $6 preference
Corporation
Class A
9
9-16
9-22
$50c
,
,
(quar.)
convertible
.
,
_(qu;> V
f.
Co;^r'/;/ ■
^.
Bank
Shoe
Shattuck
.9-
11-15
35c
"
.
Tf^.
Co.,
g.
9-16
10-15
•
9-22
(quar.)____
com.
:
1-5-42
9-18
9-10
<
:
Brothers,
8imon
.9-10
10-1
50c
{
Co.
Nat.
«?-Bert>lck
,8-3i;
:
9-15
75c
(quar.)
(cuar.)
Philadelphia Elec.
9-10
1
10-
144c
(quar.)____
(Detroit)
Co.
"
50c
.
"
9-15
_
1
9-26
25c
ji___'__'_Ji___i_i___
(quar.)
5
8-31
.
Pl.-ncle
10-
$l'/4
com.
9-
'
'
■
—
preferred
prior
PMloo
9-30
9-30
40c
„
(quar.)
com.
(quar.)
National .Breweries,. Ltd.,
7%
r
Co.,
Selby
„
•
Inc.
preference
$5
9- 2
10-15
55c
/
com".
Co.
&
preferred
2
tic
to-
Philadelphia
10-15
_
12 >4 c
"
National Battery Co., $2.20 conv. pref. (quar.)
57c
Oil
Phelps Dodge
50c.
25C
,.
Com.
National .Biscuit
Co.
Paul,"
8-22
'
National
Milk
Pec
Peter
9-13
.J
3c
1
J______i.__j.____
9-
9*20
9-18
1
jquar.) :
(quar.)
Lace
Seeman
9-13
.
1
"r: 60C
Power
D
Nat/, Bank
I'" Second
1
9-20/
'
10-
$1%
A
eommon-,.
Co.
Roebuck
8econd
9-10'
10-
9-15
25c
V,
____T—
Petrol
2
9-27
$iy2
~
Brothers
&
Extra-
Philadelphia
(quar:)
-
(quar;)
A
t$l%
y
5
1
(quar.)
•,
CO.—-
Mfg.
Sears
9-22
' 25c
12-
10-
'
"9-15
1
9-27
75c
(
Lock
Scranton
'
8-30
$iy2/
pref.
-
—•_—
Gold Mines, Ltd.,
P—--n
9-24.
;
9-15
$2
-
•'
(F.
1
9-12
40C
(quar.)
;
Nachman-Springfilled-
10-
$iy»
.
(irreg. )
(quar.),
*■
12-15
75c
(guar.)..
Seaboard Oil Co.
9-15
f
10-15
;-,t50c
Circle- Co.,' (fmar.)
Perfect
9-1:
$iy2
(quar.)
preferred
(quar.)
System, Inc., 8%
,
I
12-31
America—'
Mutual
Common
8-31
-10-
I-1-42
84c
-
(quar.)
(quar.)—
pref.
:
10-1
8-30
8-30'
"
9-15
$iy4
(res.)-
•
8%
Co.
of
■
$iy4
(quar.)
Water
Chemical ,Co.
preferred
pref.
shs.)
10-
50c
.
Pennsylvania Glass Sand Corp., com,; (qu.)
1 $7
preferred fnuar.) _:____
Pennsylvania Salt Mfg. Co; (irreg.)
Pennsylvania Tel. Corp, • 2.50 prec.
(qu.i_
Pennsylvania Water & Power Co., com. (qu.)
$5 preferred (quar.)
:
Peoples Drug Stores, Inc.- _
J—
People?'Gas light & Coke Co,-(increased)
Peoples Nat. Bk. of Wash.;- (Seattle; Wash.I
..(Quarterly),
•
.v
_v—
$5
Corp-
Muncie
Mutual
67a,
•
;-.<.$iy*
As
:•
9-15
'••:$iy2
-
9-12-
9-15
t31V4C
<quar-.>u___
Cafeterias
preferred
Motor
t$l3/4''
/J__————v.—
Mortgage Lk. of Columbia- (Am.
Motors Acceptance Co- 87c Pfd.
Motor
———
■—
(J; P.)
Morgan
Morrison
;
Dry
9-10
.9-12
Mortgage
&
R.)-
12--
:
11-10
(quar.)
Loan
(W.
12-1
$2y4
1
Ltd.,
Cottons-,
11-10
10-15
(quar.)
10-t5"
$1
Penn Elec. Switch-Co. $1.20
9-1
1
Co.r In&T com.- (qu.) ":50c
&
"
Montreal
12-
$2»/4
(semi-annual) ————
(semi-annual)--— i_____J—
C
9-15
,■
preferred' B
$4: preferred
10-15
Ur
i$iy4
(quar.)
5
Loan Assn. Ltd,
B
C
preferred
Scovill
10-15
1
$l'/4
'
Co.
Chemical
Preferred
Mass.)
seml-armual
Monsanto
1
Co.- (Springfield,
Ins.
A
i
'
Monarch
1
\
10- 1
9-
Co./(Mo.),;
&
A
preferred
$4
4
9-15
$4,50 preferred
i
,"1
5
25c
,
Electric
•/'•i Common
8-27
9-15*
11-1
50c
'
1
1
11-
-
910-
5
(quar.)^._
.
Ltd;/ (quar.)
debenture
Schlage
8-27
1
10-
,
9-15
10-
8-30
1
debenture
5We
8-30
f
10-
16 '/4C
_
9-20
i
50c:
(quar.L—.— i
„
1
1
—-
Manufacturing Co., Ltd;, com.-(qu.)
7%-preferred (quar.)
Peck-Stow & Wilcox Co., - tirregular);
Penlck &- Ford, Ltd., Inc. -(quar.)
v-_
Pe^'n-T^r Telephone (quar.)
—
V Quarterly 1 ■ *•—
'
.8-30;
10-
8-26
8-26
9-15
1ft-
7-29
30c
7i-
Co.,
Scott: Paper
20c
Pat<m
-
2
10-
t-lOc
$iy»
Park .& Tilford, Inc., 6% conv.r pref. (quar.)
Parker
Wolverine
Co.——__—:
V
9-18
9-
,
—
(qu.)
______—___—_______
—
9-15,
.
-
9-10
25c
/ 67c preferred
(s.-a.)
Schenley Distillers Corp.
Schfff Co.,- common; (quarJ.,
;
_
9-18
1
9-15
$i
(s,-a,)..
prefeired
4%
.
9-15'
1
10-
.-,$iv2
,
'
Co,
•
Mills,
'
Calif.
5% pf.
1
9-20
9-20
30c
9-2
1
■
Co.
7%; deheuture
6'/2%
8-30~
8-30
i 15c
9-15
10-
(quar.)____
common
Trust
debenture
17a7c
•
9-15
•
9-20
9-30
,i
25C
:'
8-26
9-20
9-15
(quar.)_____,
Lead
•
9-15
$$iy*
of
8'%
9-15
-
9-15
9*10
5':
1
10-
2°r/n
___________
common
''
9-15
9-30
$iy2/
1'
V.;9-2(h;);
preferred
Joseph
Savannah
'
(quar.)^_-___i.___—*
Page-Hershev • Tubes, 'Ltd; /(•quar.)_^-__-~__
Paraffin Companies, Inc., com. -(quar.)____
12-20
9-20
9-30
t$2%
(quar.)
Inc.,
San Francisco Remed.
9-15
10-
9-15
10-
37y2c
Louis Union
Sangamo
9-15
9-30
Co;
indemnity
Pacific
9-30
20c
9-15
10- 1
25c
Ine.~ (quar,f/^/jUi.j/'
"_1
Corp.
Store-.,
(Quarterly)
8-30
18%c
of Caiix.
Corp.
-Cq
'(Quarterly)
»'
9-10
—;_u_.—
Corp.
Finance
Finance
5%
•
St.
St.
8-30
t$l'/4
10-1
50c_
Co,
Safeway
43 %C
(miar.)
preferred
Pacific
8-20
1
$i
.
'."
.
8
1-2-42
(quar.)___—1
Carpet
57c
Pacific
8-25-
l';
10-
$m
Ltd.;. common*
Mohkwk
*
.
*
9-15
,75c
9-15,,
$1%^
:
(final)
D.)
Mfg.
5
35c
—Jw-———
(quar.)
•
9-
$i%
1st preferred __
Power Co., Ltd.— •
H.)
Manaufacturing Co.
Quarterly
:_
9-10
'$iy2
conv.
&
9-10
10-
9-15
$1%
_
9-23
.
Ruud
2
9-20
;r
8-30
1
9-30
30c
5
9-15
',
(quar.)_—
(quar.)
$5.50
Co.,
Light, Heat
Common, (quar.)
50c
1-2-42
—_——i
Service
Steel
9-
$1%
common—
class
Ltd.
(Geo.
8-27
9-
.
$1%
fmmr.)
——• —
National Bank (Nebraska) (quar.)
preferred
Otis
$1%
preference
5Mt'#
60c
9-15
10-
Sabiii'-Rolrtrihs.
9-15
43%c
.8-30'
9-18
Ltd.—
Pendleton,
Roper
9-10
9-15
—.
pref. (quar.)
&
Russel
9-10
"10- 1
60c
——
Gas
Ottawa
-
(quar.)—__
Containers,
Modern
6%
,;
.
Voehnnger.Co,, .(irreg.L—_
Judson,
9-15
8-28
9-20
8-30
$1%
(qUar.)
5
8-22
1
$1V2
—.—_
■.,77a participating, preferred
(quar.)
Ontario Loan to Deb^n
Co. tquar.)__—
Otis Elevator Co., common
9-10
V>/2
Electric
&
"
9-15
V,
_______
preferred B
Missouri
Roeser
.10-1;
(quar.)-
prior pref.
$l'/4
Mississippi Riverr Power Co. 6% pf. (quax.)
Mississippi Valley Public Service. Co. ' com ,;
9-
$iy4
,
(quar.)'
60c
.<■'.
(quar.)
Quarterly
9-15
25c>
5c
Rolls-Royce,
5
10-
9-10
9-10
$1%
common__^
(quaf.)./™/™™"''''
1
9-
40c
Inc.,
6% preferred (quar.)
Oneida, Ltd.; common (quar.)
9-25
Quarterly 1 —_/J--.--i-—ii-i-Lu-i^ '
$6
'
;!
r;
io-
$2
Co.
10-
9-15
t50c
,
Omar,
5c
.
,•
9-10
10-1.0
Co.,
1
1
25c
(quar.
Mills,
Robertson.: («.
9-20
20c
.
Extra
9-20
1
30c
$3, preferred
.v
9-15
9-10
,
$i
''
Regulator—t
1
9-20
Natural
cum.
37y2c
common—-—
& Mfg. Co.——1/—
Vali«v^C*nnirg; Co. 5% pf. (qu.)
Power
io-1
30c
com._
1.
10-
$iy2
Co., (irreg.)
•
i
$5.50
9-15
$l'/2
Mining
Mississippi
1
1
'•$iy2
-
Quarterly
Minnesota
Oklahoma
.
(guar.).
Minneapolis-Honeywell
Minnesota
10-
.10-
(quar.)_______
preferred
(irreg.)
•_
1010-
7 '/2c
(quar.)
(quar.)
preferred
Omaha
Products
Tube
Refineries,
Co.
$1%
.
of
[erred
pre
conv.'
,10-25
40c
'
9-2
.
$1%
(qu.)
11-
Mid/City; National; Bank
,r $I;50
8-25
9-30
$i '/«•:
Goods
Silk
*
(irreg.)
:
20c
preferred (gUar.)____';J_ "" "V$l%
preferred
9-10
1010-
$iy2
(quar.)
(resumed)
preferred
9-1012-10
2
10-
50c
A"->;Js0o0-*--;
Robbins & Myers Inc., $1,50 partic. pref..
9-15
137 i/2c
Roberts Public
Markets, Inc.
10- 1
(quar.)__
10c
9-30
(quar.) —J
pref,
second
[
(quar.)____
participating
9-20
1
9-10
—
preferred
67c
•
,
Co.4—
(quar.)
series
10-
10-25
'
Steel
Mid-West
6% pref,
I
25c
Tube
Seamless
lib
■
2
10-
Service
20c
_____
Cement Co. (qu.)
Oklahoma Gas & Elec. Co. 7%
.10-
(quar.)
10-
$20c
Co. _______
Ohio Seamless Tube Co., common
9- 2
$l'/2
(quar.)
Co.
Co.,. 67o
Oil
Ohio
Drug
first
10-15'
12-20
3c
Co.
6V27c
7%
A
Co.
Paper
77c
;
9-20.
common
-
common
prior preference
Olio
2
10-
$iy2
Michigan .Public
TM preferred
.r-6%.
preferred
Rise-Stlx
9-10
.
9-10'
9-10
10*15','
.
(quar.)__
Co.
Mfg^
of Rec.
1
15c ''11-1
(resumed)v.;/J/ 3c/;; 9-20
common
common
preference
Inc.,
9-10
1
1
pref erred. -(quar.): •-■lu -w—---r-f-.-r-.;.,
5 To
8-20
preferred
Michigan Associated Tel. Co.
-f 1.
:i
1
9-10
cum.
...
i
'
"9-20
f
$5
f
10-
10-
________
Financl®
9-16
$6
,;
!
,12- 1
.
Mo'"
10-
12V2C
Motor Car Co.
Metropolitan Edison Co.
9-10
1
75c
Corp.
Spring
Rheem
Rich's,
Co.
common
preferred
Rhinelander
^interim) ,\f v.: 20c10-
common
(quar.)'
B
on
Steel
prior
6%
"
.'T-;'
Co.
67„
for
Cofp,'■
Ohio Match
(increased)
(quar.)
Ohio
"
Holders
When
„ShrOre -:s Pay'ble
.
,^-"''$3 Ya'1'10* 1
Ini&.-j'A pf./A., (qu.);;.',:'. /, i&c ;11- 1
Fund,
Petroleum
Republic
.
Inc.,
/,-■ *•.
(quar.)
preferred
Additional
3
(reduced)
Co..
67c
Riverside
ijtd.
Co.,
Ohio
Corp.—
(quar,).
.
3
.87%CJ
Sugar Co., Ltd." <irre3vf___
Confection Co. $2.50 class A
Oahu
.,
I
12-
5
QC ;,.12- 5.
20c
75c
—
Meteor
■.
12-
25c
(quar.).
____
Co.
99-
Rand,
preferred
\ Republic
Corp.—
sower
Pharmacal
Norwich
Nu-Enamel
-
Corp.
Machine
9-10
9-10
-
'•
9-15
9-30
tlV*
__
prqfejredv
•
Messer
9-21
71%c
,;:.v: 67r>
preferred, (quaf.),;
Northwest. States Portland
'5'
9-
reorgan?
1st pref.___
Mercantile Acceptance Corp. 5% pfd.
9-30
40c
9-15
is payable
div.
5%. conv,
8-30
t$iy2
__
f—-—-
Diy. declared for the odd period from July
.
8-20
9-19
15c
par)
(quar.)
North River Ins. Co.,
8-30
't
1
i:'
57a7o pref. $1.09375
new
1
11-15
:«9-15
com. held.
approval of the
preferred /iquar-d: Cumulative
prior preferred
9-18
pfd.
11-
50C
t$l
$21/2
Name of Company,,'
,
Republic Invest.
Amer.
to
Finance
American
North
11-28
25c
_—
7%
5
10-
9
.<13/4
(quar.)
Newspaper
9-
_
" :• •*<> 7'^
43 3/4 c
preferred
($20)
Edison
North
of
subject
is
;i.
.
Reynolds
(quar.)
preferred (quar.)
5%%
2
(quar.)___
1%
shs.
..
$4.50
Co., -com.—
Detroit
of
50
div.
10-16
9-17
:
(quar.)
com.
6%-preferred
5
M^Crory Stores Corp. (quar.)l___-_-u___-_*___
rMcKen2ie; ReJ Lake Cold Mines, Ltd. (quar.)
McClatchey
sh.
each
This
'
,
American
One
vVflK
Per
.
.;$iy2
8-25
;
9-30
of Rec.
t$i»/2
*
8-29
_________—:—
(qu«r.)
Corp.
North
—
Second- Fund,
Co.
Electric
M&stic vAsphalt
N
9-15
(s.-a.)
Holders
Remington
$6 1st preferred B
12-20
25c
(Milwaukee)
9-30
Co.,
Ry.
Bearing Corp., (quar.)
North American Car Corp., $6 1st pref. A
9-15
12-27
Western
&
.
li-1
Norma-H
9-15
20C
/_i—.■
Investors
1
$IV2
•
Master
'
Bank
Ilsley
Corp.
Norfolk
<
$l'/4
pf.-A .(qu.)
(ouar.t—J—
(interim) (quan)
class. A
Corp.,
Noranda Mines Ltd.,
9-17
9-30
10-
$1M»
1900
3
1
Shipbuilding & Drydock Co.
preferred (quar.) r_„_—
News
Niagara Share Corp. of Md. 6%
3
10-
$ 1 7a
(quar.)
Fund,- Inc.' (irregular)
common
(quar.)
Masonite
Mass.
pref.
6%; pfd.>- (quar.)
_
second senes
^uarj-*.*-.Co.,
preferred,
Maryland
<
&
$5
Co.
Power
Field
9,9-
Share
;•
convertible
$5
f
5
9-15
50c
Newport
8-27.
9-10
.
4c
(quar.)_____
Co.
Mfg.
9-
:
J 9-10
!-t$l,/4
•
9-15
,
When
Pay'ble
'
11-5
20C
Mallory (P. ,R.) & Co., Inc. (irreg.)—____
Mangel Stores Corp. $5 pref.iu.j_.i__
Manufacturers
Trading
Corp.
common
Mapes
11-15
Per
,n;.Name of Company
8-29
(quar.)
Co.
C.)
9-15
———__
(quar.)- ,——1_—
pref.
r 6%
,
(I.)
Saturday, September 6, 1941
9-26
76c
9-lQ*
9-16
9-
l)'.,;
2
3
1
I
M
@FedFRASER