Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-18
Corporation News

NEW YORK. May 1.-THE following
Is today's summary OF important corpor-
alton news prepared by Standard Sta
tstics Co. Inc, New York, for the As
ISOLATED Press.
The Industries.
Oil-Standard Oil of California has
reduced prices of crude rs to 90 cents
O barrel In Sante Fe Springs Field only.
Railroad equipment-Baldwin Loco
motive has received order for two
switching locomotives from Peoria &,
Pekin Union Railway. Order for seven
interurban cars placed with st. Louis
car by Northwestern Pacific.
Rubber-Despite the announcement
that English and Dutch rubber planta-
ton owners have agreed to cease tapping
has been promised by only about half
Of the producers of the world supply
of crude rubber. It is estimated that
curtailment of output by this measure
will not exceed $4,000 tons, and that
production In 1890, will be $4,000 tons
ahead Of consumption. Domestic stocks
of crude rubber on May l, were 1854
tons larger than year ago. Tire pro-
duction this year probably will not be
materially larger than in 1929, and the
trend on crude stocks Is likely to con-
tinue upward. There appears little rea-
son to expect much advance In rub
Der prices from current low levels.
ONCE and business equipment-Re-
hecting In large measure the general
business recession, aggregate sales OF
Office and business equipment have de-
clined materially In recent months. In
dications are, furthermore, that not only
will domestic consumption be continu-
ally restricted during the near future,
but that export demand also will be cur
tailed to some extent IS q result of less
favorable economic conditions abroad.
The Companies.
Celotex Co. has filed answer to re-
ownership bill of d. Adler. Calls for
proof by Adler Of ownership Of so shares
Of company's stock. Denies insolvency
and states financial position is sound.
Columbia Gas d Electric earned rs
cents on common stock In March
quarter against 50 cents in 1929 period
In IL months to March 81 earned $2.I3
on common shares against $2.32 In pre-
vtous fiscal year. Based on IL 500 1922
shares in 1880 and 1.o54,025 in 1929.
Columbia Graphophone declares divi-
dend Of 20 cents share on American
shares.
Columbia Carbon earned sl.ss on
common stock IN March quarter against
S2.32 in like 1929 period.
Eastman Kodak reduces price OF
koda-Color Film S0-foot roll to $4.7S
from So. Has introduced 10O-foot rolls
which retail ct 90.
Electric shovel coal mined and sold
tn 1929 totaled 1,156,642 tons.
international Hydro-Electric System
earned u cents on common stock In
March quarter. This Is maximum
distribution allowable under participate
ing privileges.
Mccall Corporation earned $i.i4 on
common stock In March quarter against
$l.04 In 1929 period.
+. Z. Myers Brothers earned $3.50 on
common stock In six months to April
10, against $S.16 In previous like period.
Radio Keith Orpheum is30-3l pro-
auction program Of subsidiary (Radio
Pictures) calls for 80 all-talking, musi-
cal productions.
Republic Steel has completed adj
ditional aston electric furnace 1T Cam
ton. Ohio. enlarging battery of electric
furnaces to six.
Southern New England Telephone
stockholders Of record August II, 1880,
to receive right to purchase 5000, 900
new common stock at par; indicated
ratio 1 for z. Issue Of $40 ,0o0, 900 90
year per cent debentures to be offered
shortly. Proceeds to liquidate debt In.
CURED a. result Of plant additions.
General Gas q Electric declares IN
NAL dividends Of tn cents o share
each on new class A q d common
eharez.