Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
Corporation News

NEW YORK, January 4.-The follow
ing is todays summary OF important
corporation news prepared by Standard
Statistics Co., Inc, New York, for the
Associated Press:
News Trend.
The weekly trade reviews throw little
light on the outlook for 1890. Devel-
opments of note during the week were
the steadier price undertone in the
| leading commodities, and, where In
ventories have been completed, the veri-
| fication of the belief that stocks of
| goods are small According to the
reviews, a confident feeling prevails.
and with burdensome supplies mainly
absent, with output running close TO
actual orders, sound basis for COM
| mercial advance exists.
Bank clearings for the 5-day week of
January 2 at the % leading centers
totaled $l0,669, 681 900, drop of 229
per cent from the corresponding week
last year. The decline in New York
City is even more marked, clearings
being S7,2l9,000,000, a decline of 26.7
per cent below last year; outside cities
total was $3,45O. 6s1 900. or 1913 per
cent below last year.
Outstanding corporation news items
were the increase in dividend by Mel
Vile Shoe. the reduction of dividend
by Birtman Electric and the passing of
the quarterly dividend payment by
BrockWay Motors.
The Companies.
American Hide e. Leather earned
S2.l2 in "a weeks to December IA, 1929,
VS.. deficit of $462,473 in "a weeks
to December IS, 1923.
Birtman Electric reduces annual divi-
dend to 81, formerly ST.
Brockway Motor Truck omits rs cents
quarterly dividend; 1929 sales increased
IL per cent over previous year.
Container Corporation of America
earned 80 cents in 10 months to october
81, 1929.
Electric Power Associates declares ini-
tial dividend Of rs cents on A and COM
mon stock.
Exchange Buffet December sales I'D
1877 per cent; months to December 81,
1929, 1872 per cent higher than in pre-
vious year
Fourth National Investors shows loss
OF S9l4,29l IN period August % to De-
sale of securities.
Fox Film receivership threat Of class
stockholders committee believed
abandoned.
General Motors Chevrolet base price
Of $525 current in 1929 reduced to $495
for 1880 series, with parallel reductions
on all models. Oldsmobile December
1929 shipments up 40 per cent: IL
months up AZ per cent from previous
year.
Hudson Motor Car new 1880 line to
have eight-cylinder includes 10 models
New Essex to remain i'll siX-cylinder
class.
International Hydroelectric System
November, 1929, X. W. h. up IS per
cent; IL months, Al per cent above
preceding period.
International Shoe output totaled
S4.730.685 pairs of shoes in year to
November 30. 1929; increase Of 6,034,-
3l5 pairs over previous year.
Melville Shoe increases annual divi-
dend to 50. formerly s140.
Pacific Telephone g. Telegraph No
vember net up per cent; II months
6 per cent above year ago.
Reynolds Bros, Inc, r. S. and g. K.
Reynolds. owners of all but 100000
shares of outstanding stock. donated
to company 100000 shares of per-
sonal holdings for retirement.
Southern Pacific stockholders to vote
on increase of authorized common
stock by 100000 shares. Immediate
issuance is not planned, action taken
to provide shares for issuance when
needed.
Southern Pipe Line stockholders to
vote on sale Of pipe line and rights of
way extending from State boundary be-
tween West Virginia and Pennsylvania
eastward to Midway, Pa.
Standard Motor Construction de-
1enoant IN equity receivership pre-
ceedine fled bv creditor.
Utah Apex Mining earned 81 cents
IN IL months to August 81, 1929, VS..
IL cents in OreVioiIs wear
Warner 0uinlan reviseS gasoline prices
TO meet West Coast competition.
Western Air Express carried $4,000
passengers In 1929, VS.. 6,T94 in 1928.