Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-22
Corporation News

NEW YORK, August 22.-The follow
ing is today's summary of important
corporation news prepared by Standard
| Statistics Co., Inc, New York, for the
Associated Press:
Tobacco statistics for July portray q
mixed trend with cigarette and SNUFF
production, showing an increase, but
cigar and manufactured tobacco output
decreasing. Cigarette production fol-
lowed an irregular course earlier In the
1 year, but In more recent months has
| registered decided upturn. First-hah
| production showed an increase Of only
2 per cent over last year, whereas June
output gained "a per cent and July
10.6 per cent. It Is expected this d.
vision OF the tobacco industry win es-
tablish record gross profits this year.
Cigar output was reduced 9.3 per cent
and manufactured tobacco declined 81
per cent. The 1880 shoWings Of these
branches Of the industry are expected
to be considerably below 1929.
The outstanding item In the days
corporate news Is the announcement
that Aviation Corporation of the Amer
icas has completed negotiations for the
acquisition of the New York, Rio 81
Buenos Aires Lines. The latter viii be
operated by the Pan-American Always,
| subsidiary Of Aviation Corporation
which becomes the largest air transport
line In the world. Earnings statements
recording improvement over last years
results were issued by Scott Paper, Dia-
nnond Shoe and Keith lbee- Orpheum
A reduction In quarterly common divi-
dend was made by McKesson a. Rob-
bins.
The Annalist weekly index Of whole.
sale commodity prices registered an In
| crease Of l per cent In the past week
due to advances In farm products and
food products prices. Increases in
wheat, steer and hog quotations offset
further declines in barley, corn, oats
rye, cotton and potatoes, and caused ar
expansion OF per cent In farm prod
ucts average. The food group rise was
caused by advances in meat, butter and
egg prices. All other six groups making
UP the index showed decreases.
The Industries.
Electrical Equipment.--Ffrst half ex-
ports from United States reached new
high total Of ST. ,149 SOS and compares
with SIC, ,999 in 1929 period Radio
| apparatus exports totaled 1890 eO1
against $6,976,901. Electric refrigera-
tors, up TO one ton, amounted to S.
930.331 against $6,239,1g9.
Farm Neutrality-suspicious. half exports
farm machinery valued $3.50, OPS
against $72,060 ,581. In 1929 period
Russia, which In first half 1929 took
| $7,056.447 farm machinery, increased
purchases first half this year to $780,
$751; 59.
Oil.-Price Of Pennsylvania crld,
oil advanced IS cents barrel by Soutl
Penn OIL. Bradford district crude wa,
increased IS cents to $3.50 barrel
South Oklahoma City operators agre,
to reduce output TO 5 per cent capacity
although allowable production Is rs pc
cent. Production has been averaging
8h per cent capacity. Reported Okla
homa Corporation Commission has is
sued citations against SO officials, al
leging violations of Oil proration af1s
curtailment agreement; have been or
dered to appear before commission Z,
show cause why they should not b
fined.
Radio-Second- quarter retail sale,
OF radio equipment valued at $4,000,
600, vs. $s2, 000, 900 In 1929 period, Com
merce Department estimated.
Railroad. - June freight trafiic o.
class / roads totaled 4,4l9,086.o00 ne
ton miles, reduction Of ISIS per cen
from year ago. Eastern district freigh
volume dropped 1853 per cent, Southern
district declined 1853 per cent ant
Western IA per cent.
i Tobacco-July domestic cigarette pro
duction, 1889 1896, $40: increase, 10.'
per cent over year ago. Cigar outpu
was So, 900, 1873; decrease, 9.3 per cent
Manufactured tobacco was 28,018,05,
pounds; decrease, 81 per cent. Manu-
featured snuff increased 2.6 per cent.
q Zinc-July world zinc output for re
porting countries, 92.77l short tons va
! 90 ,303 tons in June for the same coun
! tries and 90, $50 tons In May, according
to the American Bureau Of Meta
Statistics. Figures do not include out
. put Of Belgium, the Netherlands ant
| Poland. which no longer report. Thes