If you want to split the string with space, you can use
string[] splitItems = item1.Split(' ');
and you can use
Stock_Card_Drill_Form scds = new Stock_Card_Drill_Form("Stock_IN", splitItems[0] , splitItems[1] );
Note: It is better to check the length of the array before using it, so that you will not get a index out of bound of exception