Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-22
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

NEW YORK, December 22.-The fol-
lowing is today's summary of impor-
tant corporation news prepared by
Standard Statistics Co. Inc, New York,
for the Associated Press:
News Trend.
Dividend announcements continue to
furnish the items of outstanding inter-
est in corporate news. OF a favorable
nature in today's list are the declara-
ton of full years preferred dividend
by United Cigar Stores of America after
lapse of more than year and the
announcement of 1881 dividends by
United Piece Dye Works. National
Cash Register omitted extra disburSe-
mentS on their class A and B shares
and also reduced dividend on the lat
ter class of stock. Other unfavorable
actions included the passing of dividend
by National Rubber Machinery and the
reduction in payment by Eaton Axle &
Spring and Pittsburgh Steel Foundry.
Higher earnings statements were issued
| by Arundel Corporation and American
! Ice
Agriculture.-World wheat crop, ex-
ceptiug Russia and China, estimated by
Department of Agriculture at 3,784,-
| 100000 bushels, against 3,495, 100000 in
1929. Russian crop placed at lisa, AGO.
| UUU UuSIlelS, dBdlllSI tOA.OO1,OOO.
Agricultural machinery.-Reduced ag-
ricultural purchasing power and con-
tinued holding of grain by many farm
! ers hoping for higher prices are re-
| stricting farm equipment purchases.
With the fundamental situation adj
verse the current quarter will likely be
one of small profits, if not actual losses,
for most producers of agricultural ma
chinery. Lack Of demand and increased
J -. L.,
responsible for a sharp reduction in full
year 1880 income of these concerns,
| which probably will end period bur-
dened with unusually large inventories
and recetVableS.
Paper.-Production of paper in 1880
estimated at 1862, 488 tons. against TO-
984, 900 tons for 1929, decrease of about
9 per cent, according TO reports to
American Paper g. Pulp Association. It
is estimated consumption of paper
made in United States will probably be
approximately 10 per cent below the
level of 1929.
Shippin g-Principa1 transatlantic
steamship companies reduce better class
passenger rates 10 to so per cent.
Wool and woolenS-despite prospects
of a smaller total clip for 1880 the world
statistical position of raw wool is still
weak. SURPRISES have been augmented
as a result of curtailed consumptive
demand and evidence is lacking that
stocks will be reduced much during the
near term. Thus, despite the relative
stability of wool prices in recent
months, some liquidation is probable in
the early future Domestic wooden
mill activity has recently been increased
to around As per cent of capacity, as
compared with 40 per cent in october,
but no further increases are likely be-
fore next Spring. Furthermore, while
producers stocks have been reduced to
some extent carryoverS will, neverthe-
less, be substantial, thereby neceSsitat-
ing inventory adjustments. In view of
this prospect as well as low profit mar
gins prevailing, little or no earnings
will be reported by most manufacturers
for the current year.
The Companies.
Allegheny Gas October Natural gas
sales up 101 per cent.
American Ice net before depreciation
and Federal taxes, IL months to No
vember 80, SIS ,609, 002, against $685.
ATS in 1929 period.
Arundel Corporation share earnings,
IL months to November 81, $500,
against $453.
Eaton Axle & Spring cuts quarterly
dividend to 40 cents from rs cents;
1880 indicated share earnings 81.
F. e. w. Grand-Silver StoreS-$6,-
000, 900 debentures with common stock
purchase warrants, sold to bankers Oc-
tober Z; $3,100,000 of proceeds used to
purchase Canadian properties of Metro
politan Chain Stores, remainder for
working capital Subsidiary Metro
politan Stores, Ltd, also sold 100000
debentures to same bankers, using pro-
ceeds to pay of bank loans of about
same amount.
Lake Superior Corporation reorgan-
ization plan proposes new holding COM
pany and share exchange, SIS new
cumulative preferred stock and one new
common share for each Lake Superior
share.