Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-17
Corporation News

NEW YORK, May 1.-THE following
is a summary Of important corporation
news prepared by Standard STATISTICS
Co., Inc, New York, for the Associated
Press.
News Trends.
Bank clearings for the week are again
considerably below the like periods OF
1929 and 1928. Aggregate Of % leading
cities is II per cent below a year ago.
New York City's clearings are 1872 per
cent lower, while total in principal CEN
tiers outside of New York is 12.1 per cent
below last years. Losses are shown by
all cities except Louisville, with largest
decrease continuing in the west anq
South. The weekly trade reviews report
highly uneven and indefinite move
ments in general business. wholesale
and jobbing trade continued at the pre-
vious weeks moderate volume, but retail
buying slowed up slightly, chiefly IN
the rural districts. Industrial activity
showed a slight easing off.
An interesting development in the oil
industry was the action of Standard Oil
Co. of California reducing the price OF
crude in the Santa Fee Springs fields
only. This step is directed at operations
in that field which have shown dispo-
sition to abandon the curtailment pol
icy and run production at capacity.
The Companies.
American States Public Service earn
ed 1877 on class A stock in 1929.
Albany Perforated Wrapping Paper
stockholders of record May offered
right to purchase class A participating
shares American Public Welfare Trust
at $40 in ratio of one share for each
share held.
Anaconda Wire g. Gable earned ia
cents on common stock in March
quarter.
Anglo Chilean Consolidated Nitrate
Chilean Government has drafted plan
for nitrate combination with capital OF
5000, 000, 900 pesos. Plan has been ac-
cepted by 80 per cent of Chilean nitrate
producers, including this company.
Electric Shovel Coal earned cents
on common stock in 1929 against 43
cents in 1928.
Hackensack Water earned 10 cents
on common stock in March quarter
against % cents in 1929 period.
Holland Furnace April sales up los
per cent; months sales per cent
above year ago.
Gamewell Co. stockholders to vote on
increase in authorized common stock
from 10000 to 100000 shares in addi-
ton to acting on creation of 27,500
shares Sc convertible preferred stock
George A. HORNED g. Co. earned Sill
on common stock in six months to
April rs vs.. 1888 in like period year
ago.
La France Republic output for first
four months increased 4S per cent over
1929 period.
Marmon Motor Car guarantees all
cars as to parts and workmanship for
one year, or $4,000 miles.
Mccall Corporation magazine adver-
Using lineage for first six months, 1890,
up 17.8 per cent over year ago.
Midcontinent Petroleum stockholders
to be asked to approve amendment to
company'S constitution whereby en-
ployeS can be sold stock from companys
treasury, total amount not to exceed
10000 shares.
New York, Chicago & st. Louis
earned rs cents on Sc preferred stock in
March quarter VS.. $5.14 in 1929 period.
Penick &c Ford, Ltd, to call $500
shares OF outstanding preferred stock
for redemption on July /.
Porto Rican American Tobacco pur-
pose changing class A common from
100000 shares, 800 par, to 100000
shares no-par, and exchanging each
common will be increased from 400, 900
to 100000 shares.
Reynolds Spring untitled orders
spring division currently total $700, 900.
Safeway Stores sales in first four
months 1880 up 1875 per cent
st. Lawrence Paper Mills, Ltd, to
purchase $3,600,0o0 of Lake st. John
Power g. Paper per cent preference
stock from Dominion Securities for
$4,000, 900 cash and $4,000 shares COM
mon stock. Siemens &c Halske A. G..
have obtained concession for installa-
ton of automatic telephones in Greece.
Standard Oil Co. of California has re-
duced price of crude oil rs to- 90 cents
a barrel In Santa Fe and Springfield
only. Company states present condi-
tons in that field do not justify offering
of price which will encourage over
production.
Stimson Aircraft April sales up SO
per cent over March.
United Corporation reported to have
acquired an additional 100000 shares
of Consolidated Gas stock. Holdings
now amount to about 100000 shares.
United Reproducers, stockholders COM
mittee to consider formation of new
company to take over Buckeye Iucllba-