Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-29
Corporation News

Statistics. Inc, New York, for the AS
ISOLATED Press:
News Trend.
Weekly bank clearings recorded a
smaller reduction from year ago than
has been shown for several months.
Aggregate for leading cities is $11,171,
s79, a. decline Of IL per cent lower,
while total for cities outside New York
decreased 5.3 per cent. Sizeable In
creases were shown by Boston, Rich
mond and Louisville. Commercial fail
ures continued at high rate. Total
for week numbered 400, against AIT in
the previous week and 425 in 1929
period. An exceptionally large increase
was shown in the East, while the South
showed decrease. The mercantile re-
views report further quieting down of
trade distribution, particularly in retail
lines. A dull Summer Is generally fore
cast, but sentiment appears to have be-
come more cheerful than in recent past.
Dividend reductions were announced
by Sharon Steel Hoop and Devoe &
Reynolds. Railroad earnings for May
continue unsatisfactory. Aggregate net
operating income of the first 81 carriers
TO report is 1913 per cent below year
ago. Gross revenues declined 1873 per
cent Several large sugar refiners have
announced price advance Of 10 points
10 4.7O cents, effective July /.
The Industries.
COPPER.-May imports of copper in
manufactured form totaled %. 294
metric tons, against 32,186 tons in April
and 28,2l9 In March, according to the
american Bureau of Metal Statistics,
Exports of refined metal from the Unit
ca states tctaled $4,000 tons in May,
against 20,376 tons in April and 15,46l
TONS In March. Machinery and ma
chine equipment, despite the enjoyment
OF record breaking machinery exports In
first quarter and highly profitable oper-
atoms OF the railroad equipment and
agricultural machine industries. the
period generally was a poor one, Little
oetterment other than strictly seasonal
mas occurred during the current quar-
ter, for which it is expected an appre-
ciable reduction in profits from 1929
Will be shown in reflection of industrial
letooWn: Reserves of orders have been
depicted rapidly since the first of the
year. Coupled with the fact that new
business has fallen off considerably
prospects for the next several months
are not highly encouraging. Results in
various industries are expected to
differ widely, with some organizations
experiencing highly unfavorable returns
ana others actually showing record
breaking profits. On the whole, how
ever, income for the full year cannot be
expected to attain high levels of 1929.
The Companies.
Associated Gas & Electric extends
tlme Tor exercise of debenture rights to
January 2, 1884, with increase in sub
scriptlon price upon exercise of rights.
Atlantic Coast Line May net oper-
ating. income off 66.2 per cent; FIVE
months, 59.3 per cent below year.
Buftalo, Rochester & Pittsburgh
Railroad May and five months net on
Grating income 20 per cent below year
ago.
Calumet & Arizona Mining consider
ing merger with Phelps Dodge
Canadian National Railways NAV net
of 29.3 per cent; five months, 52.4 per
cent below year ago. Central Vermont
included in May. 1880, report.
Chicago, Indianapolis & Louisville
Railway net operating income of 49.s
per cent; five months, 48.6 per cent
Chicago, Rock Island & Pacific Rail-
road surplus of So per cent: five
months, SO per cent below year ago.
Chrysler Corporation on May 81 had
cash and marketable securities totaling
S50,173,241, an increase of S11,465,875
since December 81, 1919. Total is
equivalent to S1l.31 per outstanding
share. Book value same date exceeded
$23 share.
Denver & Rio Grande Western Rail-
road May deficit, after charges, $27 ,042,
against surplus. $780, five months,
deficit, $486,24o, against surplus,
Devoe & Reynolds Co. declared quar-
terly dividends of 80 cents each on
class A and B stock; previously paid
&c orfn
Dominion Textile earned $s.07 on
common stock in year to March 81,
against 1888 in previous year.
Federal Water Service acquires four
Long Island water companies, including
South Bay Consolidated Water, Sag
Harbor Water, Hampstead &c, oyster
Bay Water and Sumpwams Water.
Upgrade Food Products acquires Beg
ley Food Products Of Chicago.
International Nickel Of Canada ore
mined in May totaled approximately
100000 tons.
International Paper g. Power sub
sidiary increased price of Kraft to SIS
a ton from $40, in Southern States.
international Telephone & Telegraph
phone sanction sale of assets to / T. T.
Knott Corporation earned $1.53 on
common stock in five months to May
81, Mohawk Mining sending 1,400 tons
of rock to stamp mill daily.
Norfolk Southern Railroad May net
operating income $1,222 against $81 Asst;
five months, 5000, 438, against $498, 222.
Packard Motor Car Diesel engined
plane being operated in mail service by
Thompson Aeronautical.
Paramount Publix had 16,486 stock
holders on June against 1871 March
2, and 1856 year ago.
Pennsylvania Railroad trains on
Philadelphia division to be OPP
Grated by electricity.
Pines Winterfront report has acquired
starting, lighting and horn control
known as finger-tip control from Aide
Manufacturing g. Collier Co.
Pittsburgh & Lake Erie Railroad May
net operating income of 4.3 per cent; 5
months, SO per cent below year ago.
Public Service Electric g. Gas to CO.
operate with Philadelphia Electric in
supplying power to Pennsylvania Rail-
road, between New York and Delaware
River.
Sharon Steel Hoop declared quarterly
common dividend of IS cents; pre-
viouSly paid so cents.
Spang, Chalfant & Co. line pipe mills
booked to capacity through 1880.
st. Louis Southwestern Railroad May
surplus $19,725 against $1,000; five
months, $9,898 against $150,012.
United Gas has acquired stock control
Northern Texas Utilities.
Vacuum Oil reported to have entered
Cleveland marketing territory through
company-owned system.
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