The Washington times., 1930-05-19

ClCS company OF new 1OTK, II
its current survey Of that in.
dustry.
Summarized briefly, they show;
Assurance Of substantial increase
of volume Of demand; adequate
source of supply for years tc
come; greater earnings potential
tiles of balanced crude produc
tion; more efficient ALLEGATION OF
refineries; greater concentration
on marketing of products, anc
large scale entrance Of the oil
industry into the field Of natural
gas distribution.
A banking group, consisting oi
the National City Company, Dill
lon, Reed and Co., Guaranty Com
pany Of New York, Harris, Forbes
and Co., Dominion Securities
Corporation and the Canadian
Bank of Commerce, is offering at
prices to yield 4 to Abs per cent
$13,396.000 City of Toronto. On
tario, per cent bonds, due in
varying amounts from April /
1881, to 1850, inclusive.
Negotiations looking toward
the purchase of the assets of the
California Wire and Gable Com.
pany, by Anaconda Wire and
Cable Company, Of California, a
subsidiary of Anaconda Wire
and Gable Company, which have
been pending for some time, has
been completed. Stock will be
issued by the Anaconda Wire
and Gable Company, for shares
Of California Wire.
OBrian, Potter, Stafford, and
Company, members of the New
York Stock Exchange announce
that D. D. Martin replaces D
r. Martin as a special partner
in the firm.
McGraw Hill Publishing Com
pany, Inc, and subsidiary organi
zation report for the quarter
ending March 81, 1880 net profits
after deduction of all charges and
taxes, of 1884, ,980, equivalent tt
SO cents per share on the 100000
shares of common stock out
standing. Net profits for 1929 ir
the same period were equal tc
S6 cents per share.
Directors Of Twin States Nat
ural Gas Company, have author
lied the issuance of 10000 addl
tional shares of no par value
common stock to be offered tt
holders of the company's partici
pating class A stock held or
record May AZ, 1880. Proceeds
will be used in development anc
expansion of the company'S bust
ness and for other corporate
purposes.
Demand for patent medicines
pharmaceuticals and other rem
edies thus far in 1880 has moi
been equal to that of the same
period of 1929, Standard Statistic:
Company, of New York reports
They believe. however, as a result
of their survey, that trade vii
undergo a revival during the lat
ter part of the year.
The recent behavior Of thu
stock market has undermined
some of the confidence in bust
ness improvement that had beer
established previous to the latest
reaction Of the New York Stocl
Exchange, Gage P. Wright, New
York business and investment
counselor says in the current is
sue Of Business Economic Digest
He added that many business
men today pay too much atten
ton to the stock market for thC
good Of either themselves o.
their business. He advocated 6
carefully planned business recov
cry.
Large scale production Of cleo
trio welded pipe will be begun b,
the Republic Steel Corporation a
its new pipe mill at youngstown
within the next few weeks. Prac
tically all machinery has beer
installed in the new mill.
Commercial stocks of bituminou
coal used largely for 1ndustria
purposes amounted to 33A0O,0O|
tons on April /. 1880, according
to the quarterly survey just com
pleted by the United States Blu
reau Of Mines. This is a de
crease of 100000 tons from tn
amount on hand at the beginning
Of the previous quarter. It i
also 100000 tons less than tn
quantity in storage on the same
date last year.
The General Railway Sigma
Company has received one of tn
largest contracts in the histor,
Of its business from the Torontl
Terminal Company covering tn
installation of an extensive elec
trio interlocking system for tn
new terminal station facilities a
Toronto. The work is planned
for completion by July l, 1881
under rush program.
Sir Henry Thornton, X. b. e.
chairman and president of tn
Canadian National Railways. ha
been elected to the board of di
rectors of the Union Guardian
Trust Company, the Oldest trus