Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-28
Corporation News

NEW YORK. December 2s.-The
following is todays summary of i'm
portant corporation news prepared by
Standard Statistics Co.. Inc, New York,
for the Associated Press:
News Trend.
The weekly mercantile reviews esti-
mates of Christmas trade indicate that
buying this year held up we'll and in
the main was better than had been
forecast. Volume of business was about
equal to year ago, with a tendency
toward purchasing of lower-priced
merchandise.
Report of mercantile failures for De-
cember on a unit basis were 81 per
cent above 1928 and less than in 1927
Actual liabilities involved however, were
the highest in any month in seven
years, increasing 43 per cent above the
same week last year and IA per cent
over December, 1927, considered an I'M
favorable month
Bank clearings for the week con-
tinued to show a contraction from a
year ago. Total Of 1886, 202 900 this
week in % leading cities of the coun-
try is 1913 per cent below the cor
responding week last year. Clearings in
New York City for the week show a
decline of 1873 per cent, while principal
%
cent.
Corporate items of interest INCLUDE
the proposal of acquisition of Sogood
Bradley Car and Standard Steel Car
Cos. by the Pullman, Inc, and passing
OF preferred dividend by Autosales, Inc.
The Companies.
American Ice net (before deprecia-
ton and Federal taxes, $5,528,475 in
II months to November 80, against
$3.50 100 a year ago.
American window Glass-Federal tax
refunds in fiscal year to June 80 to-
tailed 81 ,803,2l5.
Atlantic Coast Line Railroad Novem-
Der net, $503,019, against $1,156,292 a
year ago; IL months, $l1,917,509,
against $8609,271 a year ago
Autosales Corporation passes quarterly
preferred dividend of rs cents; last
payment October is.
Chicago Great Western Railroad
earned $2.42 on preferred stock in IL
months to November 80, against Sill
a year ago.
Chicago, Rock Island g. Pacific
earned $1235 in IL months to Novem-
Der 80, against $11.76 year ago.
Commonwealth Power net income,
after interest, amortization and equity
earning in subsidiary stock, for IL
months to November 80 increased Is
per cent over a year ago..
Corn Products Refining declares extra
dividend of rs cents and regular quar-
terly payments>of rs cents on common
stock
Detroit Edison Electrical output in
creased Is per cent in IL months to
September 80 over same period of 1928.
Electric Auto Lite awarded con-
tract to produce all Ford generators:
Florida East Coast r. r. showed
deficit of $l65,425 in November against
deficit of $685. last year; IL months
net showed an increase of 1927 per cent
over a year ago.
Indian Motor Cycle to issue 10000 no
par common shares at SIS share.
Lehigh Portland Cement earned $2.77
in IL months to November 80, against
$5.76 year ago.
Manati Sugar earned 90 cents per
common share, before colons accounts
written off, in IL months to october 81,
against 10 cents year ago.
McKeSSon 81 Robbins issues 1921
common shares, 5,145 preferred shares
and 1925, 227 in acquisition of three COM
panies.
Mcclellan Stores net income for year
1929 estimated at S1.650,000 by chair
man, against 1899 ,009 in 1928. Sales for
year are estimated at $4,000 900 against
Slo,9oS,of4 III 1870. OVOTeS III operation
now total $50.
F. E. Myers e. Bros. earned $5.62 in
IL months to october 81, against $4.79
a year ago.
J. j. Newberry plan addition of IS
stores to chain in 1880.
Penn-Ohio Edison net income, after
interest amortization and equity earn
ingS in subsidiary stock. for IL months
to November 80, was II per cent sbove
a year ago.
Pullman. nc.-Stockholders to vote
on acquisition of Asgood Bradley Car
and Standard Steel Car Cos.
Submarine Boat Equity receiver
sought by stakeholder.
United Light & Power earned 50 in
IL months to November 80, against
$3.50 last year.
United States Steel reported negotiat-
ing for the purchase of certain proper
ties of the Pittsburgh Coal Co.
Virginian Railroad earned $l1.80 in
II months to November 80, against
$667 year ago.
Western Pacific Railroad Corporation
November net off 40 per cent; IL
months, per cent above year ago.