Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-08
Corporation News

NEW YORK, May s.-The following
is todays summary of important cor
poration news prepared by Standard Sta
tistics Co., Inc, New York, for the AS
ISOLATED Press.
News Trend.
Activity in the Steel industry receded
slightly in the past week. Operations in
the industry as whole averaged about
n per cent of theoretical capacity, COM
pared with 10 per cent in the week pre-
vious. Prices of steel showed a further
decline. The Iron Age composite price
for finished steel has fallen to 2.228
cents a pound from PA cents in the
preceding week. 1t is now $3.50 net
remains at $17.67 a gross ton, below
the 1929 level.
The Copper Exporters, Inc, has an
nounced the reduction of export copper
to 1913 cents a pound, from 1873 cents.
This brings the European price into
parity with the revised domestic price
of 125 cents, which had not been &C
copied by all producers.
April chain stores sales were again
prominent in one days corporate news
with all companies reporting substantial
increases. Favorable dividend declara-
tons are made by Hazeltine Corp. and
Columbia Pictures.
The Companies. ....
American Department Stores April
sales up I1.6 per cent; 4 months sales
slightly below year ago. Had II stores
in operation at close of April.
American piano reorganization plan
declared operative.
British controlled oilfields. Ltd,
earned 27 cents on 35-cent preferred
stock in fiscal year to July 81. 1929,
against 10 cents in previous fiscal year.
Celatex Co. application for appoint
ment of receiver filed in Chancery
Court at Wilmington by D. Adler, holder
of so shares of Celatex stock. Charged
insolvency, mismanagement and misap-
preparation of funds.
Childs Co. April sales up IA per
cent; months, up IL per cent over
year ago.
Cleveland Cliffs Iron earned $11.15 on
common stock in 1929, against $8.41 in
1928.
Columbia Pictures declares initial
quarterly dividend of 37la cents and
initial semi-annual stock dividend of
21a per cent on common shares.
Detroit Gray Iron Foundry earned
sl.08 on common stock in 1929, against
S1.97 in 1928.
Continental Oil advances bulk price
of u. S. motor gasoline in tank cars at
reflneries half cent gallon to 8
cents.
David Fender Grocery April sales up
"a per cent; four months, As per cent
above year ago. Had 423 stores in oper-
alton April 80, SO with meat markets.
Fox Film West Coast Theaters &C
quires Midland Circuit of go theaters in
Kansas, Missouri and Iowa; price, about
$4,000 900.
General Electric received $4,000 900
order from New York Edison for two
turbo-generators Of 215,000- horsepower
each.
Hazeltine Corporation declares quar-
terly dividend of so cents on common
stock, placing issue on a 50 annual
basis, against 81 previously.
Ludwig, Bauman g. Co. April sales
up 6.5 per cent; 10 months sales up rs
per cent over previous like period.
Byron Jackson Co. earned 81 cents on
common stock in March quarter, against
So cents in like 1929 period.
Jewel Tea sales for four weeks ended
April 10 off Al per cent from year
ago; sales 16 weeks to April 10 off 2
per cent. Average number of sales
routes, 1928, against 1,155 year ago.
Leland Electric earned $2.51 on 40
0c0 common shares in 1929, against
So 80 on $4,000 shares in 1928.
MaviS Candies-Court discharges tenn
porary receivers appointed several weeks
ago.
Melville Shoe April sales of $3,271.-
LAP were 500 per cent above year ago;
four months sales up per cent. Fig
ures in both periods include $496,523
sales Of recently acquired Traveller
chain.
Middle West Utilities March quarter
net, before depreciation, up AZ per cent
over year ago; net IL months to March
81 up 80 per cent.
New York Dock earned AZ cents on
common stock in March quarter, against
IL Gents in like 1920 nerind