Evening star., 1929-12-19
Corporation News

NEW YORK, December 19.-The
following is today's summary OF i'm
portant corporation news prepared by
Standard Statistics Co., Inc, New York,
for the Associated Press:
News Trend.
The midweek steel reviews point out
that while further recession In activi-
ties in this key industry is indicated
for remainder Of month, sentiment IN
the trade has improved materially and
a general recovery is looked for in jan
uary. For the past week operations
have changed little. with United States
Steel showing a slight decline to "a
per cent of capacity, while the 1nde-
pendents held practically unchanged at
SO per cent. At this time in 1928 the
industry was averaging 30 per cent OF
capacity. January Is expected by the
trade to witness considerable picking
up, as it is felt that output of past six
weeks has been under actual consump-
ton and that inventories Of major con-
sumers are Subnormal.
Corporate dividend developments were
mixed. several units, including General
Tire & Rubber, New York Air Brake
and Landers, Frary & Clark, announc-
ing increases or extras, while others
passed their payments. Further evi-
dence of unsatisfactory conditions pre-
vailing in the musical and radio in
dustry were the passing of the Temple
Corporation dividend and the appoint
ment of a receiver for American Piano.
The Companies.
American. Piano equity receiver ap-
pointed for this company.
Bangor Hydroelectric earned $2.71 in
IL months to November 80, against $2.45
last year.
Cities Service November income up
40 per cent; IL months to November 80
up 18 per cent from last year.
Continental Can purchases Penick &
Ford's Harvey, La, plants for $750,000.
Dubilier Condenser grants license to
Columbia Phonograph Co. for all uses
covering changes in reproducing record
manufacture which increase playing
time of record and eliminate back
ground noises.
General Motors Oakland introduces
S-cylinder V-type car at prices rang
ing from $1,145 to $1,320.
General Tire & Rubber declares extra
dividend of 50 on common stock.
Holland Furnace 10-month sales to
october 81, S16,565. .91S, up 1877 per cent
1IOHl ldoG yCdIs 1919 odlCc CSb11dOCu dU
$18,000,0 900 by vice president.
International Hydroelectric system
declares regular quarterly dividend of
so cents in cash, or 2 per cent in
stock, on class A shares
Landers, Frary & Clark declares extra
dividend of 81 and regular quarterly
payment of rs cents on common stock.
Murray Corporation declares 2 per
cent stock dividend on common shares;
no action taken on cash dividend, pay
able January Is. 1880. =.
New York Air Brake increases divi-
dend on stock from So to $3.50 annually.
Parmelee Transportation acquires
$875,000 of Pittsburgh Transportation
Co. stock.
Pere Marquette earned $14.54 in II
months to November 80, against Sl536
last year.
Rhine Westphalia Electric Power de-
clares dividend of $2.16 on American
shares.
Scovill Manufacturing issue of s25,-.
100000 convertible 5l3 per cent bonds
proposed.
Temple Corporation passes quarterly
dividend on convertible preferred shares.
United Gas increases holdings in
Consolidated Gas Utilities to 81 per
cent of Glass B stock.
United Verde Extension Mining de-
clares 81 dividend or capital stock.