Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-11
Corporation News

Corporation News
NEW YORK, May l0.-The follow
ing Is today's summary Of important
corporation news, prepared by Standard
Statistics Co., Inc, New York, for the
Associated Press:
News Trend.
United States Steel Corporations un-
filled orders on April 80 totaled 4,354 ,22O
tons, a decrease of 216,433 tons from
the previous month. This decline Is
somewhat larger than anticipated and
marks the first decrease reported by
the corporation since August OF last
year. Total backlog is 73,543 tons be-
low the same date in 1929.
The Department Of Agriculture's es-
innate of Winter wheat production,
based on condition of the crop May J.,
600 bushels below the actual 1929 yield
and, with the exception of 1928, the
lowest for any year since 1917. These
figures were awaited with consider
able amount of interest, In so much as
It Is believed that the extent OF the
expected recovery In business In the
second half of the year will be gov
erned largely by the trend of agricui-
ture. If new crops are OF size favor
able to higher prices, the chances OF
marked trade expansion will be excel
lent. Conversely, IL yields are sum-
GENTLY large to depress values further,
general business viii be affected.
Bank earnings for the week were
larger than in the like periods OF either
of the two preceding years, because OF
heavy settlements in New York City.
Total of % leading cities was $l2,254,-
$4,000, or So per cent above year
ago. At New York City clearings to-
tailed ss,708. 000. 600, q gain of s.6 per
principal centers outside of New York
was ss,546,32s 900, or per cent be-
low 1929.
The Industries.
Coal-Demand for bitumineus coal Is
affected by industrial conditions and
1t is not surprising that production has
been almost continuously curtailed in
the past few months. Recent output
has been about 10 per cent under that
Of a year previous, and evidence Is
lacking that demand during the near
term will support larger production.
1t is apparent that earnings OF produce
ers viii be curtailed and generally un-
satisfactory.
Copper-Sales for foreign account in
past three days are estimated at "a, 0OO,-
900 pounds, the largest volume Of BUSH
ness in months. Domestic buying also
has been good, but Is not keeping pace
with foreign demand.
Oii-Standard Oil of New Jersey and
Sinclair Consolidated Oil advances
tank-car price Of gasoline u cent a
gallon to cents. April imports Of
petroleum, including crude and refined
oils. at principal ports in United States
totaled 7,131 900 barrels, decline Of
1887 900 barrels from March total. The
daily average was ZOO, against 274,-
TIA. Receipts of California crude and
refined oils at Atlantic and Gulf Coast
ports were 1858, 900 barrels. compared
with 2,401 900 barrels in March.
Retail trade-April sales Of $40 de-
partment stores were 8 per cent larger
than in April, 1929, according to re-
ports made to Federal Reserve System.
The increase reflected in part the late
Easter business, which was In March
a year ago. Comparison of sales in
March and April, taken together so as
to include the Easter selling in both
years, shows decrease Of per cent
from 1929
Motion picture-Data covering first
quarter operations in the motion pic
was an exceptionally profitable one for
the trade. Prosperity has been general
with the four principal units-Para-
mount. Fox, Warner Bros. and R-K-O-
as well at Loew's. all enjoying income
of unexpected proportions. The near
term outlook continues to be good, there
being no doubt that the June quarter
will also be q banner one. The full
year holds forth the assurance that
the greatest 12-month period on record
will be achieved by the industry.
The Companies.
Anaconda Copper Mining subsidiary
American Brass, has reduced prices OF
products about / n cents a pound.
Aviation Corporation operating SUBJ
sidiary carried 20,320 passengers in first
four months of 1880, compared with
20,659 in full year 1929. In April car
ried 6,74l passengers, high record for
any month and 9-10 per cent over
March.
Federal Water Service earned 1922
on class A participating preferred stock
in IL months to February % against
$286 in previous fiscal year.
Gamewell Co. earned $40 on COM
mon stock in 10 months to March 81
against $3.50 in previous like period.
General American Tank Car received
orders from Chicago, Milwaukee, st
Paul d. Pacific for 500 stock cars and
from Carnegie Refining for three tank
cars.
Metro Goldwyn Pictures earned S35 9S
on common stock before Federal taxes
20 weeks to msrch II, against &i7.s8 II
previous like period.
Nash Motor April production totalec
$500 cars, against 1922 Iii March anc
1906 in April, 1929. Had untitled or.
ders for LOO cars on May /, against
600 on April j.
United Aircraft 4, Transport earned
80 cents on common stock in March
quarter, against $l.05 in like 1929 period
WHY'S Overland abandons Elyrii
plant, body building and truck as
sembly unit. Had employed as many a!
1000 persons. Dealers new-car stock
on Anril 1R fnfalad s RQQ units aoains