Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-24
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

LEADING FOUNDATIONS.
NEW YORK, August % H).-The
following is today's summary Of i'm
portant corporation news prepared by
Standard Statistics Co., Inc, New York,
for the Associated Press:
News Trend.
Corporation news is largely Of an
unfavorable character. A receivership
suit has been filed against Warner
Bros Pictures alleging company was in
conspiracy with Renwar, Inc, which, 1t
charged, bought real estate at fair
prices and sold 1t to Warner Bros. at
exorbitant profit. Canada Steamship
Lines have deferred dividend on cunu-
lative preferred stock. OF . favorable
nature was the statement Of American
Tobacco sales for July, which show
"IIIcky strike" sales continued at rec.
ord levels. City Fuel first half earn.
ings recorded. moderate Improvement
over last years results.
Bank clearings for the week declined
sharply from o year ago. Total ex-
changes in principal cities were 33.4
per cent smaller than q year ago, with
New York City's aggregate declining
38.o per cent and outside cities 20.8
per cent The decreased stock mar
ket activity accounts for good por-
ton of the New York decline.
Chemical-American Producers As
ISOLATION charge Russian manganese is
sold at Atlantic seaboard by Soviet
agencies for as cents per unit, while
| American industry could not produce
profitably for less than so cents per
| unit.
Confectionery-Cocoa futures drop to
new low; September closed at Z cents
pound.
Mining and smeIting-July world out"
put refined lead Isl ,a56 short tons vs..
| l5O,541 in June and 1920 in May,
according to the American Bureau OK
Metal Statistics.
Otl-Pennsylvania crude price adj
vanced by Eureka, National Transit
Pipe Line, Tidewater Pipe Co. and
others. Standard OIL Cos, New Jersey,
Indiana and California introduce new
| type gasoline trade.marked "Stanavo,"
designed specifically for aviation en-
gines.
Observation-Disclosures declining con-
struction activities throughout rest OF
world, American yards were buster on
June 80, last, than at any time since
1920. Principal domestic shipbuilding
companies are currently experiencing
very satisfactory profitS, and with con-
| tinuation of present rate OF operations
| assured for at least next four or five
years, those yards having facilities Tor
| constructing larger merchant vessels
will beneflt accordingly. Securities OF
such organizations are not available to
| the public, and participation can only
be secured indirectly.
Steel-Heavy melting scrap steel sold
ct $lS ton in Chicago district; increase,
! 80 cents over previous quotations.
Hugar-FutureS fall to new record
| low prices; September closed at 1.06
| cents pound, 3 points below previous
low.
The Companies.
American Cigar July sales increased
| 13,074.000 units, and seven months, 74,-
s42, 900 over 1929 periods.
American Tobacco July Lucky Strike
sales net new high record and in
creased 5e3 900 900 units over year ago:
seventh months sales, 3,6S9, 00o, 600
above 1929 period.
Aviation Corporation (Delaware) car
ried 0,001 passengers between New
York and Boston in first seven months:
universal division carried 176,192
pounds airmail and 1901 passengers
| In same period, or more than double
business in like period year ago.
Bendix Aviation earned 70 cents COM
mon share in flrst half, against $2.56
year ago.
Canada S. 8. Lines, Ltd, to defer
$50 quarterly cumulative preferred
dividend due october /.
City &c Fuel earned sass common
share in first seven months, against
$2.4l q year ago.
Federal Water Service earned 90 per
| class A share in IL months to June 80,
| against 1912 year ago.
International Telephone & Telegraph
Brazilian subsidiary granted right to
operate international radio, telephone
and telegraph service for period Of 10
| years.
Jewel Tea sales. four weeks to Au-
! gust o, of 1913 per cent; 2S weeks, 5.S
| per cent below year ago. Average mum.
Der sales routes, 28 weeks, 1888, against
Ito in 1929 period.
McCesSon & Robbins earned 81 cents
o common share in FIRST half.
New England Power Association July
| profit before depreciation up 2 per cent;
seven months. up Is per cent.
Noranda Mines buys substantial In
terest in Canada Wire d Gable.
Phillips Petroleum plans IL additional
| filing stations for Denver.
Swedish Match gets Guatemala match
monopoly for 80 years in return for
| $2,500 900 per cent loan.
Thompson Starrett Co. earned 81
cents a common share in quarter to
July 81. Uncompleted contracts July
81 totaled 30,205, 623, against $19,796,-
492 year ago.
United Aircraft 81 Transport to hold
one-sixth interest in Aviation Corpora
ton of the Americas as result of New
York, Rio 81 Buenos Aires acquisition.
United Verde Copper receives tax re-
| fund 9606, 285 for overaSsessment 1918
income and profit tax.
Warner Bros. Pictures stockholder
files receivership action against COM
pai1y and Renwar, Inc, in Chancery
Court, Wilmington, Del; charges exces.
| siye sums were allowed to be paid
Renwar. inc. for purchase real prop
erty and leases, and that latter was