Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-06
Corporation News

! AC"o ptcpdISU Dy STANDARD STATISTICS
Co., Inc, New York for the Associated
Press:
News Trend.
The weekly trade and commercial re-
ports gave no evidence of change in
the business trend to more favorable
levels. Commercial failures for the five
business days numbered 435, which COM
pares with 1913 in 1929 period. All
geographical sections reported increas-
es. Bank clearings at leading cities
were 17.3 per cent smaller than a year
ago. At New York City, clearings de-
| cllned 1873 per cent, while exchanges
IN centerS outside of New York were
reduced by Ills per cent. Part of the
sharp decline, as contrasted with re-
/ cent preceding week. is explained by
the fact that returns for the week cover
only two days of the heavy July settle
ments, whereas in 1929 three days were
included. The weekly business reviews
| ma retail trade was stimulated during
the week by the warm weather, and
| buying for vacation needs. Wholesale
and jobbing distribution continues quiet.
Corporation news contained further
announcement Of extended shut-downs
| and vacation periods and dividend COM
missions. Companies announcing the
passing Of quarterly dividends due at
|
er. Simmons Co., and Nathan Strauss.
The Industries.
Automotive-May automotive exports
totaled $31 ,619,047, against S45,264, 634
year ago and $37 ,443,661 in April. For
the first five months aggregate was
| Sta, 978, 489 against 1929, 399,551.
Petroleum-HouSe passed Senate bill
] intended to prevent waste of Oil and gas
in the Kettlemen Hills Fields of Cali
fornia. Measure provides for co-opera-
ton of pooling operations between les
sees of oil lands in area.
| Public utilitieS-House shelves pro-
posal to authorize War Department to
sell Muscle Shoals electric power to
| municipalities or counties.
Steel-On July l, there were 161 &C
| tive blast furnaces in United States,
or 40.6 per cent of the 318 available.
against 1870, or 56.6 per cent on June l..
The Companies.
Associated Telephone & Telegraph
declares two extra dividends OF 81 share
each on class A stock, payable August
l, and November l. Regular quarterly
dividend, 81, also declared.
Baldwin Locomotive Works June
shipments totaled 5000, 900 VS.. $1,10o,-
| 900 year ago; six months, Sl7,470000
i VS.. $8,590,000 Orders booked in June,
1892, 600 VS.. S504 900: six months, So
$4,000 VS.. $17.420,000. Untitled or
ders July l, $14,8SO, 900 VS.. $14,13o,00o.
| Canadian Marconi traffic agreement
with Imperial Communications, Ltd,
| sanctioned by British government.
Chicago Rapid Transit Federal mas
| ter places property value at not less
than $125, 100000. Company is en-
titled to return Of 7la per cent on cap
| ital value, but under straight 1O-cent
fare is getting return of 1926 per cent.
Holds order of Illinois Commerce Com
mission in refusing l0-cents fare was
| confiscatory
Clinchfield Coal suspends operations
| at Wilder camp until coal prices be-
| come frmer; about 1000 men affected;
may occupy houses until September l
! without charge for rent, coal or light
| Eureka Vacuum Cleaner omitS quar-
| terly common dividend due at this time.
| Last payment. 81. made on May /.
Ford Motor June world production
174528 units; six months, 995,226.
Ford Motor Co. of Canada plant and
| offices, in East Windsor, to be closed
| for two weeks from July II.
General Electric Lynn works shut
down for two weeks; about $500 work
ers affected, of whom 1900, being in
service three years or more, will re-
ceive wages for at least one week.
Interborough Rapid Transit, court
permits continuation of contest for 10
cent fare on Manhattan Railway lines
International PapeN g. Power sub
sidiary, Southern Kraft, lets contract
for paper mill at Panama City, Fla,
project to cost over S2,500,000.
Island Creek Coal June production
tons in May and 5o3,370 in June, 1929.
Six months output was about 2,54o,ooo
tons VS.. 3,02l 900 in 1929 period and
1887, 528 in six months, 1928.
Kelsey-Hayes Wheel reported plan
ming foreign expansion to reduce OPP
Grating costs in Europe and to avoid
possible repercusSion from passage OF
tariff
Kline Bros. June sales off is per
cent; six months, % per cent above
year ago.
Lehman Corporation liquidating val
lie per common share June 80 was
$50. Sc VS.. $9l. "a on December 81, 1929.
Manhattan Electrical Supply had
deficit of S133,736 in five months to
May 81.
Metropolitan Chain Stores sales first
| five months off about 10 per cent I'm
cludes only stores that were in opera
ton in like 1929 period; had 148 units
on May 81 VS.. lit year ago.
sales for first six months in 1880 were
about 80 per cent of those in 1929
Mcclellan Stores June sales up So
per cent; six months, 6.6 per cent above
year ago.
Mobile g. Ohio Railroad closes
Whistler repair shops, laying of 200
men.
o1,,,Ya0yo dividend 0f 27lo cents due at
this time.
New York, New Haven & Hartford
asks District of Columbia Supreme
Court for writ of mandamus against
I. c. c. to require commission to in
vestigate, ascertain and report true
value of properties, including value OF
estates and franchises in tracks OF New
York g. Harlem and in terminal
properties.
Northern Ohio Power & Light sued
for 81 100000 damages by Akron, Ken
more g. Barberton Bus Lines, charging
conspiracy to ruin its business.
Pacific Telephone & Telegraph May
net income up 81 per cent; five months,
80 per cent below year ago.
Pennsylvania-Dixie Cement gets order
for 100000 barrels cement, valued at
$500, 900, from South Carolina High
way Commission.
Prairie Pipe Line cuts Oklahoma City
oil field IS per cent because of reduced
| refinery demands.
Rio Grande oil had 5000 stockholders
on July 3 against 1,400 year ago.
Ritter Dental Manufacturing ship
ments in current year to June Is were
| per cent below like period 1929; earn
| ings in first half are expected to run
about 20 per cent below.
Sherwin Williams Co.'s nine-month
! sales less than ! per cent below like
previous period. Dividend requirements
| for whole year covered.
Southern California Edison had 49,