Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-17
Corporation News


NEW YORK, April 1.-THE follow
ing is a summary of important cor
poration news prepared by Standard
Statistics Co. Inc, New York, for the
Associated Press.
News Trend.
Outstanding in the days corporation
news was the announcement of a re-
organization plan under which control
Of the Radio Corporation of America
and subsidiaries will pass to the Gen.
eral Electric Co. and Westinghouse
Electric 81 Manufacturing. Under the
plan Radio Corporation will acquire
exclusive licenses under all General
Electric and Westinghouse American
patents to manufacture radio appa-
ratus, real estate, factories and other
manufacturing facilities now employed
by the electric companies in manufac-
ture of radio apparatus in return for
6,580.375 shares of common stock
3.948,225 shares of which will be re-
ceived by General Electric and 1852, $50
shares by Westinghouse.
Other items of outstanding interest
are the offer of rights by American
Telephone & Telegraph to stockholders
for subscription to one additional share
of stock at 500 on basis of one share
for each six held. Favorable dividend
announcement was made by Powdrell
& Alexander Inc. Companies with ia
vorable March quarterly reports include
Bickfords, Inc; Curtis Publishing,
Hudson & Manhattan and Mapes Con-
solidated Manufacturing. Unfavorable
quarterly statements were issued by
Johns-Manville, S. S. Kresge and
Willys-Overland
The Companies.
Alpha Portland Cement earned $213
on common stock in IL months ended
March 81, 1880.
Amoskeag Manufacturing net income
in 1929 was 81 ,065, 534, against deficit
OF S960,698 in 1928, before depreciation
both years.
Associated Gas & Electric extends to
January /, 1886, the existing rights ex-
piring September /, 1890, and January,
l, 1881, to purchase common stock at
$50 a share.
Bickfords, Inc, earned SO cents on
common stock in quarter ended March
81, 1880, against 81 cents in like quar-
ter 1929.
Consolidated Instrument Co. of
America had deficit of SOS, 1856 in 1929.
In 1928 earned SO cents on common
stock
American Telephone g. Telegraph
stockholders of record May % offered
share stock at 500 on basis one share
for each six shares held. Rights expire
August l. Ownership of convertible
bonds does not entitle holders to sub
scription rights, nor will stock to be
issued in their conversion after May %
be entitled to rights.
Curtis Publishing earned $2.75 on
common stock in quarter ended March
81, against $2,32 in like 1929 quarter.
De Forest Radio sues Gordon Phono-
craft. alleging infringement of patents.
General Motor Adam-Opel factories
producing 200 cars daily; capacity, 300.
Hudson g. Manhattan r. r. earned
$l.27 a common share in March quar-
ter, against $1.10 in like 1929 period.
Johns-Manville Corporation earned
81 cents on common stock in quarter
ended March 81, 1880, against 81 80 in
like 1929 quarter.
S. s. Kresge Co. earned 40 cents on
common stock in quarter ended March
81, 1880, against 81 cents in like 1929
quarter.
Kreuger g. Toll, French government.
to repurchase at 1882 the SIS, 900 900
long term 5 per cent bonds sold to
Kreuger & Toll and Swedish match
group.
Mapes Consolidated Manufacturing
earned $2.76 on common stock In quar-
ter ended March 81, 1880, against SALT
in like previous quarter.
Moon Motor new directors ordered
to show cause why their election should
not be nullified.
j. j. Newberry Co. has added IL
stores to chain since January / cur
rently operating 900 stores.
packard Motors had 59,230 stock
holders as of March %.
Pathe Exchange. Inc, to produce 20
feature pictures in 1880 at cost of
$7,00O.000; total expenditure for pictures
In 1880 would approximate $4,000 900.
Powdren & Alexander, Inc, declares
extra dividend of 3712 cents and regu-
lar quarterly dividend of e712 cents on
common stock
Penn-Dixie Cement earned $2.42 on
81 preferred stock In IL months ended
March 81, $780,
Radio Corporation announced spe-
cial stockholders meeting will be held
May 6, 1880, to vote on proposal to in
crease authorized common stock from
$500, 900 shares to $4,000. 900 shares and
authorized B preferred stock from
6l3.365 to 1900 900 shares. Subject to
ratification of foregoing r. c. A. would
issue to General Electric and Westing-
house Electric g. Manufacturing $3.50, :
375 shares of common stock, three
fifths of total to General Electric and
two to Westinghouse. In return
for these shares r. c. A. will acquire
exclusive licenses under all General
Electric and Westinghouse American