Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-24
Corporation News

NEW YORK, April 24.-The follow
ing Is summary of important corpora
ton news prepared by Standard Stats
tics Co., Inc, New York, for the Asso-
ciated Press.
News Trend.
Two developments of importance to
the oil industry in the days news were
the establishment by Standard Oil of
California of posted price at which
1t offers to purchase gasoline in cargo
lots and the settlement of the price war
in the Far East between the Royal
Dutch interests and the Standard Oil
Co. of New York. The posting of
price for the purchase of gasoline is
an innovation in the oil industry. Crude
oil prices have been posted at the wells
for a number of years, but the whole
sale gasoline market has never had
the benefit Of posted prices. Hereto
fore distress selling has often caused
prices of gasoline to fall below cost.
Stores declared dividend of 2 per cent
in stock on common shares. AcQuisi-
tons were announced by Borden Co.
and Process Corporation. Quarterly
earnings statements are again prom
inent. Transcontinental Oil and Amer
lean Safety Razor report small increases
over the 1929 quarter.
The Companies.
American Safety Razor earned $1.34
on common stock in March quarter,
against $1.25 in like 1929 period.
American Transformer earned $265
on common stock in 1929, against $a07
in 1928 (before Federal taxes).
American Water Works & Electric
March electric output up 4.3 per cent.
three months output up "A per cent.
Anaconda Copper Mining reduces
wages Of employees in Butte, Anaconda
and Great Falls 25 cents day, effec-
tive May l.
Barnsdali Corporation earned so
cents on common stock in March quar-
ter, against "a cents in like 1929
period.
Bancamerica-B Blair has arranged to
acquire block of General Foods stock.
Borden Co. acquires Huber Ice Cream
Co. of Bridgeport, Conn.
Borg-Warner Corporation, subsidiary
Ingersoll Steel & Disc Co., receives
$500, 900 order for motor supports and
timing gear covers. aasis
Clinchfeld Coal had deficit of s21s,-
806 in 1929, against deficit of $249,589
In 1928. ~
Commercial Solvents earned 80 cents
on common stock in March quarter,
against IS cents in like 1929 period.
Commonwealth & Southern net in
come IL months ended March 81, $24,-
316,640, against $40, 428, 402 in previous
fiscal year.
Dominion Stores, Ltd, declares per
cent stock dividend on common stock.
Edison Electric Illuminating Of Brock
ton earned $3.50 on common stock in
1929, against $2.72 in 1928.
General Electric acquires mining
rights of Berylluim Corporation, Vienna.
F. q w. Grand S, 10 and IS Cent
Stores, Inc, buys units of A. A.
Adams Stores, Inc, for $4,000.
Gulf States Steel earned 80 cents on
common stock in March quarter,
against $1.68 in like 1929 period.
Process Corporation acquires CAM
bridge Press, Inc.
Radio-Keith- Orpheum reported me-
gotiating for acquisition of Pathe Ex-
Southern California Edison March
net income before depreciation),
$1,214,239, VS.. $1,28O583 year ago;
three months net, $4,085,l86, VS..
A. o. Smith Corporation obtains or
der for 30O-mile gas line from Ameri-
can Light & Traction.
Swedish Match preparing to manu-
facture matches in United States be-
cause Of expected higher tariff restric-
lions.
Transcontinental Oil earned So cents
on common stock in March quarter, VS..
16 cents in like 1929 quarter. Before
Federal taxes for both periods.
International Railways of Central
America March net operating income,
$446,663, VS.. $420,036 year ago: three
months net, 1929, 273, VS.. 81, 265 ,488.
Kroger Grocery Baking revised 1929
report places net for year at S5917097,
a reduction of $456, 692 from previous
reported figure.
Link Belt earned 80 cents on COM
mon stock in March quarter, VS.. 81
cents in like 1929 period
Moon Motor Car producing IL Wind
sor cars daily.
National Biscuit earned 70 cents on
common stock in March quarter, VS.. IL
cents in like 1929 period.
National Tube receives order for $50
miles seamless pipe from American
Light & Traction.