Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-14
CORPORATION
REPORTS
TRENDS AND PROSPECTS, OF
LEADING ORGANIZATIONS

NEW YORK, September 1S.-The
following is today's summary OF impor-
tant corporation news prepared by
Standard Statistics Co., Inc, OF New
York, for the Associated Press:
News Trend.
The several trade reviews report
further moderate expansion in whole
sale and retail distribution during tne
past week. Improvement Is irregular,
however and not discernible in every
branch of trade Sentiment has become
more hopeful with gain in activities
and the expectations OF further I'M
proyement. A favorable factor in the
general situation is the greater firm-
ness in wholesale prices. The latest
tabulation indicates quotations nave De
come more stable, with some raw ma
terials showing betterment CONNER
cial failures this week were large, num-
herring 463 against 397 q year ago
Bank clearings were again substantially
below last year. Total in principal
cities of the country fell 1877 per cent
below the heavy exchanges OF a year
ago. New York Citys clearing declined
43e per cent, while centers outside New
York dropped 24.8 per cent.
CORPORATION news is varied, with
dividend omission announcement oy
Txrello Aircraft 81 Tool, q reduction by
silver King Coalition and back dlvi-
dend declaration by Wilson a. 90.
Favorable earnings reports were pup
iished by Scott Paper and Service Sta
tons, Ltd.
The Industries.
Aviation-Sales of aircraft during
1880 are not expected to exceed 3,OOO
machines, at maximum, and may wen
fall appreciably below this hgure.
Manufacturers still have on hand siz-
able inventories, which were carried
over from last year when plants were
operated far In excess of trades re-
uyiremerts. AS a result, the aeronauti-
cal industry is in the throes OF depres-
sion and no near term improvement is
IN prospect. as much time viii have to
elspse before surplus product can be
absorbed. Engine manufacturers are
more favorably situated because OF
substantial replacement demand. More
over. since the major part Of business
Is handled by few leading companies.
r1linous competition evidence among
plane producers has not spread to the
engine field.
Coal-Bituminou coal demand has
further declined in conjunction with
general trade depression. Stocks In
consumers hands July ! were the low
lake docks were higher. Current out
puts are conforming to curtailed de-
Ynand. and prices have, therefore, reg
istered little of the drastic downward
trend recently seen in other basic COM
Ynodities. Continued reduced buying
and the ease with which new demands
can be satisfied in short notice, VIII
Nrevent sustained higher prices In the
near term, at least it is believed. Sim
Tar tendencies govern anthracite olVl-
sion of industry. However, more sta
BILE. if gradually diminishing demand is
registered because 80 per cent OF out
nut is consumed domestically. 1nroaoS
by substitute fuels and increasing i'm
ports of low cost coal from Wales and
Soviet Russia indicate that higher
prices. other than those Influenced by
strictly seasonal trend, are unlikely.
Representative Coal Ex-
porters Association request I. G. C., TO
reduce freight rates on export coal py
81 ton to help meet foreign compeC-
ton in Mediterranean and South
American countries.
The Companies.
Auburn Auto-Auburn and Cord
cars in hands dealers September
averaged 2.25 cars dealers against 3.23
Chrysler Corporation-In
new line standard and heavy duty
motor trucks; price range $645 to
Durant Motors-To introduce new
large four cylinder car; price about
800.
B. p. Goodrich Co. expects TO benefit
from entry leading oil companies into
retail tire field; working capital August
81 $S5, 1877, 900 Of which inventories
were $50, COS 900 and cash $13,954, 900,
ratio current assets TO current la
bilities.
Jewel Tea not to 60 ahead with plan
under which 1t might take interest in
Van Camp Packing.
Newton Steel reported merger nego-
tiations pending With Corrigan Mckn-
ney Steel.
s Niagara Hudson Power acquires all
outstanding stock Of Syracuse Suburban
Gas.
Scott Paper earned 1921 common
share in eight months to August 81
VS.. 1882 year ago.
Service Stations Ltd, first half earn
ings S373 class "A" share. after par
ticipation. against $2.96 year ago.
Silver King coalition Mines reduces
dividend TO Is cents common share;
paid IS cents last quarter.
A. o. Smith Corporation, August ship
rnents set new high record; untitled
orders sufficient to keep operations close
Standard Oil California, effective
Monday, to advance gasoline prices
cent and reduce offered prices refinablt
crude to IL cents barrel.
Standard Oil Indiana to sell tires al
service stations and through garage:
handling companys products.
Underwood Elliott Fisher obtains
s200,0 bookkeeping machine ordeI
from French government.
Ward Baking directors send stock
holders letter urging them to defel
action on any offer by Morrow interests
Wextark Radio Stores had deficit o
$377 900 in year to June 30.
Wheeling 81 Lake Erie Railway
I G. C. examiner recommends contro
this road be denied Pittsburgh g. Yves
Virginia Railway.
Wilson e. Co. declared back dividend
of sI75 on preferred shares.
youngstown Sheet a. Tube vice presi
dent states expenditure Of $3l $780, 90
needed to modernize pipe and shee
department.
Excello Aircraft a. Tool omits 2
cents quarterly common dividend cur
rently due.
In a recent month Soviet Russia ]
Europe imported sT3i $50 worth {