Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-28
Corporation Reports

NEW YORK, July 2S--The following
is today,s summary of important corpo-
ration news, prepared by Standard sta
ciated Press:
Weekly News Review. ~
Inertia in the stock market during the
past week prevailed until Saturday,
when stocks were carried slightly for
ward again. Our composite index OF 30
stocks closed at 1874 or IL points
above the close on July 19. Twenty
railroad stocks declined 0.0 points to
1899, while SO industrials and 20 utility
stocks advanced 1T and 0.3 points, re-
spectively. Although such decided ao-
sence of activity is believed by some to
be purely seasonal the continued flow
of unfavorable reports from all Leading
industrial lines makes 1t appear that the
stock market has juStiflably moved In
line with current trends of production
and consumption.
Brokers' loans declined $4,000 900
this week to 1926, 000,0 900. Money ex-
hibited further ease. with the ofncial
call loan rate at Q per cent and quanti-
ties of funds available outside the ex-
change at IL per cent. Federal Reserve
action in extending its Is per cent Dill
buying rate from As to rs days on 80
day maturities lent considerable impetus
to the demand for acceptanceS. Abb
sorntion OF commercial paper has kept
mace with offerings while other sections
of the money market have been some
what inactive The weeks report OF
bank cIearings in leading cities OF the
United States shows a drop OF LIB per
cent below the previous week ana oe-
cline of 27.2 per cent under the CORE
spending period of 1929. A Tightening
of money to meet seasonal expansion Oh
Fall trade is not yet evident ana VIII
NOT. in all probabilities, be of very
drastic character.
The Companies.
Acme Steel earned SLIP share IN
June quarter against $2.75; SIX montns'
S2.O1 VS.. $505.
American Brown Boveri earned 50
cents founders share in June quarter
against 81 cents; six months, 3 cents
VS.. "a cents.
American can and Themokept inter-
ests, and others, have formed BRUSH
Can Shares Inc, to acquire substantial
stock interest in British Can, Ltd, one
of the largest container manufacturers
in the British Isles.
American Dept. Stores June sales on
81 per cent: six months, 1.6 per cent
below year ago.
Anchor Cap earned 500 share In
first six months VS.. $l.71; June quarter,
81 20 against $1.06.
Caterpillar Tractor gets order, about
SIS 900 900, from Amtorg Trading Co,
for shipments to Russia in November,
December and January.
Columbus Ry. Power 81 Light earned
$1492 share in IL months to June 80
against $15.79.
General Bronze Corp. gets contract for
work, on new Brooklyn Technical High
School, bringing work booked In frst
few days to 100000.
Great Northern Ry. plans rail-water
terminal on east side of San Francisco
bay to cost over $l00.000,000.
Missouri Pacific r. r. June net oper-
ating income off 4 per cent; six months,
per cent below year ago.
New England Power Association June
profit available for dividends and pre-
per cent over year ago.
New Orleans, Texas e. Mexico Ry. Co.
June net operating income up Is per
cent; months, Al per cent over year
ago.
New York Central r. r. June net
operating off 34.4 per cent; months
81 per cent below year ago.
Pennsylvania r. r. June net operat-
ing income off 1913 per cent; 6 months,
29.9 per cent below year ago.
A. O. Smith gets order from CONT
mental Construction Co. $50 miles "a
inch pipe, or about 10000 tons, for Sec
ond section Chicago-Texas gas line.
Texas e. Pacific Ry. June quarter
share earnings 1892, against $2.67; 6
months $272, against 1922.
Virginia Electric & Power IL months
balance, after taxes to June 80, up $50
per cent.
Western Power Light & Telephone
declares extra dividend of Is cents on
class stock
Willow Cafeterias earned 81 cents
share in June quarter; 8 months, $l.45.