Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-23
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS


NEW YORK, November % tP.-The
following Is today's summary of impor-
tant corporation news, prepared by
Standard Statistics Co., Inc, for the
Associated Press:
News Trend.
The days corporation news contains
further unfavorable dividend declara-
tons and. earnings statements. Com
pa1ies announcing dividend reductions
or omissions include st. Louis South
western, RuSSeks Fifth Avenue, Habir-
shaw Gable g. Wire, Clark Equipment
and Emporium Capwell. Statements Of
earnings are generally poor, with Nickel
Plate showing an especially sharp drop.
An exception to the general trend Is
Chain Store Products, which slightly
bettered its returns Of year ago.
This weeks bank clearings continued
sharply under year ago. Exchanges
at leading cities dropped 43.0 per cent,
compared with 1929, with New York
City's exchanges 4S per cent lower and
Commercial failures increased suhstan-
tally, total being SEQ, against 495 last
week and 472 in the 1929 period.
The Industries.
Advertising. Aggregate advertising
Tor first nine months Of the year has
compared creditably with that Of Q
similar time in 1929, While newspapers
sustained heavy losses throughout the
period. magazine and radio expendi-
lures advanced, partially covering losses
OF other media. Magazine cancellations
are no longer feasible, but it 10 ex-
pected that further decreases. Is COM
pared with 1929, viii be. witnessed in
other departments. Full 1880 profits in
n Ind mfWxy A.
more favorably with those of 1899 than
IN the majority of industrial lines.
Agricultural Machinery.-Overprod
ton OF farm machinery, drop in farm
income and the added hesitancy brought
about by the severe business depression
caused an unfavorable turn in the agri-
cultural equipment situation after q
record breaking first quarter. In later
months of the year conditions have
grown almost progressively worse and
are now more unsettled than ut any
time since the depression of 1921. If
fecttvely barring any immediate recov-
cry Of importance are exceptionally
heavy stocks Of machinery In the hands
Ct manufacturers, substantial swelling
o. receivableS accounts and weakened
purchasing power OF farmer. Judging
from current data, the present quarter
WI b highly unfavorable one, and
tu1-year income win show substantial
seduction from that Of 1929.
On+Pennsylvania Oil Producers As
Uociati0n restores curtailment sched-
ules cutting output $3.50 per cent. Ex-
port oil prices have declined substan-
italy following withdrawal Of Export
Petroleum Associations schedule of
prices. Gulf Coast present quota
ton for United States motor gasoline
Is 90 cents q gallon, against cents
early this month, other grades of gaso-
line showing like declines. Some degree
Of sterilization has been reached at
current levels, but belief Is that further
reductions are not unlikely.
The COmpsnieA.
". Y. Railways subsidiary seeks fran
chise for nine more bis routes 6 In
1ttAl step for motorigation Of surface
lines; disqualification plan Ia prepare
ton.
Philadelphia Electric orders new TO-
DOC, 900 -cubic-foot gas holders for Con-
Shohocken, Pa.
Phillips Petroleum cuts tank car mo-
tor fuel to cents q gallon.
Riehfield OIL Of California cancella-
ton policy not to affect contract of Pa
cific Western Oil.
ST. Louis Southwestern Railway pre-
terred dividend passed; paid $l-2s Sep
standard Oil Of New Jersey reduces
dealers tank wagon price gasoline
cent gallon.
stone g Webster Consolidated share
earnings, IL months to September 80.
SALT.
Texas d Pacifo Railway Texas
Railroad Commission approves round
trip bus fare reduction to Ia cents from
2.6 cents . mile.
United States Lines-NeW York port
authority tentatively approves purchase
OF HobOken piers for 81, 260,000.
Bohack Oh. c. Co. declares extra
dividend 62l2 cents common share. in
stead of 81, as previously reported;
same payment made year ago.
New York, Chicago q st. Louis Rail-
way common share earnings, 10 months
to October 81. $3.27, against e15,46.
American Writing Paper preferred
share earnings, 10 months to October
81, sass against 43To.
Aviation Corporation (DelAwaxe) 10
extend Universal Olsveland-LCaisvills
chain Store Products Corporation
1880, were $l.22 against $l.1I year ago.
Checker Cab Manufacturers receives
100000 New York orders for new
cabs.
CHESAPEAKE q Ohio Railway, common
share earnings, 10 months ended Oc-
OOocE ols So.tI OAa1LSS SO.46.
Clark Equipment common dividend
cut to so cents.
Emporium Capwell omits common
dividend on common; paid Is cents
September a..
FEDERAL Light d Traction earned
SAL common share IL months ended
September 30.
Federal Screw Works Q nnonths share
earnings wero 41.51 against $685. 20
Ghnn&h6 share earnings were eliza.
General Motors Chevrolet and Wtshez
Body steps mp gt. Louis operations.
Hnhkmhaw GAhlQ g wire dividend
NlA 20 20 cents annual basis against 81
8nEmerly.
Hudson q Manhattan Railroad eom-
{ mon share earnings, ten months Il
October 81, $361 against $3.85.
Industrial Rayon guarantees prices
for go days.
International Telephone q Telegraph
new cable service to Russia.
Melville Shoe had Ao2 stores October
: Is, IL under July Is.
Missouri Pacific Railroad withdraws
petition to issue common stock from In
terstate Commerce Commission. Drops
plan to pay preferred arrears IL
MCnEacppzy ward 10 mprshe ps,