Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-11
CORPORATION
REPORTS
TRENDS AND PROSPECTS, OF
LEADING ORGANIZATIONS

NEW YORK, August 1.-THE fol-
lowing is today's summary of important
corporation news prepared by Standard
Statistics Co., Inc, New York, for the
Associated Press:
Weekly News Review.
Influenced largely by the adverse
crop reports, stock prices in past week
experienced their sharpest decline since
the June reaction. Bond prices, on the
other hand, continued TO advance, our
index OF 80 representative issues touch
ing another new high point on Thurs
day. Farm products prices, stimulated
by the unfavorable crop news, also
were strong, several commodities SELL
ing at the best levels of the year. Other
commodities, however, remained I'M
changed or moved lower.
Brokers loans were reduced $4,000
900, to $3,214,000, 900, in the week of
August g. This total is $ll 600, 600 above
the 1880 low, established July 9, and,
with this exception, is the lowest since
September, 1927. The fact that that
total is close to the lowest level in three
years is indicative of the slight extent
of public speculative interest in the
stock market at this time Money rates
we're somewhat firmer early in the week,
when call loans increased to 212 per
cent, but later relaxed Latest state
ment of condition of the IL Federal Re-
serve banks combined indicates daily
average volume of Federal Reserve Bank
credit outstanding in the week ended
August 6 increased $54, 100000 over the
previous week. to $685. 900. This to-
tai is $500, 600, 900 below year ago. Hold
ings of discounted bills increased
SO 900, 900, while holdings of bills
bought in open market increased
50 900, 900 and Treasury notes $1,000
900. Reserve ratio stood at 1871 per
cent. against 835 per cent in previous
week and 74.6 per cent year ago.
Reports from industry issued during
the week indicated activity in several
important lines has receded further
Steel operations declined to the lowest
level of the year. Output for the in
dustry as whole averaged "a per cent
| of theoretical capacity. compared with
| Sc per cant in the four previous weeks
! Pipe line demand continues in good
volume. but structural steel bookings
have fallen off, and resumption IN mo-
| tor car production has not yet stimu-
( lated any appreciable expansion in de-
mand. Apparently manufacturers are
using surplus material on hand. The
| United States Steel Corporations july
81 untitled bookings totaled 4,022 055
| tons. an increase of 1891 tons from
end of June. This is the first increase
| in orders since February and is aScribed
to the sharp falling off in operations
| curing the month. Rate of output in
1 the industry during July averaged 56.4
| per cent capacity compared with 68.7
per cent in June and 951 IN July, 1929.
Railroad freight car loadings for the
week ended July IS recorded the sharp
est decline. compared with year earlier,
since the traffic recession began, Total
! of 919.349 cars was 1875 per cent below
wear ago and the lowest of any like
period since 1922.
Building contracts awarded during
July in the 81 States east of the Rocky
MMountains aggregated 1857, 528 400, r.
| W. Dodge Corporation reports. Total
is 80 per cent smaller than in pre-
ceding month and A per cent under
year ago. Up to July only the splendid
advance made by public works and
utilities construction enabled the indus
try as a whole to present any sort
comparison with last year. Now that
the activities of this temporary leading
division are declining, as evidenced by
the July recession of 81 per cent from
June and Al per cent from July. 1929,
4 the outlook for the entire industry is
less encouraging. Residential construc-
ton, which had been looked to for i'm
provement, still follows q downward