Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-02
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

NEW YORK, November 1.-The fol-
lowing is today's summary Of impor-
liant corporation news prepared by Stand
ard Statistics Co., Inc, New York, for
the Associated Press.
News Trend.
The price index for the SO principal
Industrial stocks established a new low
level for the year on Friday. Sales on
the New York Exchange were rela-
lively light but carried quotations OF
over 100 issues to new low points for
1890. Commodity prices were also re-
dictionary, corn dropping to the lowest
level for this season. Retail trade cur
rently is under the influence of seasonal
demand, states this weeks Mercantile
Review.
the weather has been q favorable
factor in stimulating buying OF Winter
merchandise Wholesale and Jobbing
trade Is reported to have become q trlne
0lIieter. Commercial failures this week
fhrouchout the United States numbered
SOP against 491 last week and Ala In
1928 period. Bank clearings were
were sharply below the record levels OF
wear ago, declining by 61.8 per cent.
New York City's exchanges showed
contraction 67.7 per cent and outside
centers 37.8 per cent.
General Motors third quarter share
08IUlIlk6 OCCkAl0A w RNA NSANS
wear ago while nine months returns
were 46 per cent lower. For the three
quarters share results, including proft
on sale of stock, equaled $2.05 snare:
It il officialiy expected company WIZ
cover dividend requirement OF So In the
full year.
The Industries.
Arriculture-As measured by Depart
ment OF Agriculture price index, farm
prices declined. As per cent In period
september Is to october is to the low,
est october level since 1915. Principal
Losses were fruit and vegetables, on q
roirlts: grain, 8 points; cotton ana cot
tonseed. 7 points. Gains were made by
dairy products and poultry and poultry
Oii@Gulf Oil subsidiary has cut grade
A crude oil prices In Gulf Coast area
of Texas to fiat price, 30 cents parrel,
compared with Humble OIL q Renning
price 81 barrel; grade prices are 70
"a cents below Humble's schedule.
Although production OF radio
se.s has been at an accelerated pace
during the past two months, operacons
are still generally on reduced scale
In comparison with year ago. Inc
recent introduction OF new super
heterodyne receivers by the r. @. A.
wroup found the majority OF indepen-
ton with sets employing tuned ire
ouency and neutrodyne circuits; hence
r1isgiyings have currently arisen as 70
near term prospects for the industry,
in the event that some OF the tndepen-
dents should decide to dump their pres
ent models In order to turn TO super
heterodyne. It Is doubted, however, tnat
this factor will cause material disturb
ance over near term. Earnings Tor
second half win be generally much more
favorable than in the preceding SIX
months when deficits were reported by
tlls majority Of companies. Neverthe-
iess. full wear results viii be highly un-
satisfactory for set manufacturers, and
the majority Of tube producers w1n
probably report dencts. S,-., Over aroy Tne
OF industry should provide basis for
urofits recovery for those concerns in
suficiently sound position to weather the
present adverse conditions.
The Companies.
American Wooden reported contem-
Mating closing down the Assabet Mill
at Maynard, Mass.
Colorado 81 Southern Railway Gin
Guiding Fort Worth 81 Denver CITY ano
Wichita Valley, September net operat-
ing income of 80 per cent; months
SO per cent below year ago.
mon share in first 0 months.
Erie Railroad president stated COM
panv Is spending $50, 000,0 900 this year
for improvements, equipment and main
tenance. despite drop in trafhc.
Federal Bake Shops to open IL new
stores during coming year.
Freeport Texas Co. third quarter
earnings in excess of quarterly dividend
requirement of 81.
General Motors cash, United States
Government and other marketable Sc
cNrities on September 80, totaled $2o2,
O64, $50, against S187,653.073 year ago;
inventories September 30 were $1l3,-
$50, lo6, against $l88,472, 500 end OF
1929; working capital $685.. 777,740
against 1921 090, 612.
Gillette Safety Razor directors statt
allegations in suit of minority stock
holders are totally unfounded; that
with exception of MFR. Gillette, no di
rector proflted from sale OF STOCK
the corporation.
Lane Bryant, mc.-Appellate Division
Of New York Supreme Court has af
frmed injunction granted subsidiary
Coward Shoe, against Julius Grossman
Inc, and afflliates restraining latte
from representing that they are success
sors to Coward Shoe" business.
Mengel Co. earned preferred share u
first nine months. against s3l 80 yea
ago. Unfilled orders october IL totale'
si,4i6. 900, against $l,7e4,ooo yea
previous.
Mercantile Stores reduces quarterl.
common dividend TO rs cents; paid $l.2
In previous quarter.
National Tea earned $l.05 commol
share in first nine months, against $2.5
In 1929 period.
PEOPLES Light g. Power stock optior
Nth class A dividends to be discon
tinued beginning with January pay
ment.
Vadsco Sales had deficit, $96,520
FIRST nine months, against net incom
before taxes Of 81 ,278,927 in 1929 pertot
Western Dairy Products third quartz
net earnings 1868 588, against $3.50. 63
wear ago; nine months, $l.003, SO.
against 9i.2T79 37.
Westvaco Chlorine Products thir
aaurter earnings 80 cents commo
ehare, against S1.07 year ago; mir
months, $2.05, against 1927.
Willow Cafeterias earned el.46 CON
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