Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-15

Corporation News
NEW YORK. April 15.-The follow
ing is summary of important corpora
ton news, prepared by Standard Stats
tics Co., Inc, New York, for the ASso-
ciated Press:
Weekly News Review.
Irregularity characterized the price
movements on the Stock Exchange dur
ing the past week. On Monday and
Tuesday average prices declined for two
successive days for the first time since
mid-February. On Wednesday the en-
tire loss of the two preceding sessions
was regained, with both industrial and
utility groups entering new high ground
for the year. Proft-taking sales on
Thursday we're we'll absorbed, the COM
poSite index advancing slightly. A mod
crate decline was recorded on Friday,
but was practically recovered in Satur-
days short session. The net change in
the composite index for the week was
an advance Of 1.3 points. The utility
group gained ~ points, the industrial
group moved up IL points, while the
rain average declined 90 points Turn
over was again large, aggregating 49,
201 $50 shares, compared with the rec
ord volume of 29,225,540 shares In the
preceding week.
On the listed bond market prices
moved In narrow limits, with tendency
toward softness. Sales totaled $70,210,-
600, against s7S.o44,7Oo In the previous
week.
New offerings aggregated $193, 845, 900,
against $50, $3.50, 900 the week preceding.
Brokers loans, as reported by the
Federal Reserve Board, registered fur
Their gain during the week ended April
9. Increase amounted to $4,000 900 and
brought the total loan figure up to So
994 ,00o,0 00 In the preceding week
loans increased by. $14S, 900 900 Gail
4 per cent. The consolidated statement
Of the Federal reserve banks on April
8 showed decrease from the previous
week Of 5000, 900 IN holdings of dis
counted bills, $34 900, 900 in bills bought
in open market and $3,100, 900 in United
States Government securities. Total
bills and securities declined $50 300, 900.
Reserve ratio advanced to BIS per cent.
compared with 1913 per cent q week
previous and 1913 per cent year ago.
Building and engineering contracts
placed In March In the 81 States east
Of the Rocky Mountains reached q total
Of Sass, 11o, 900, according to F. W.
Dodge Corporation. This Is an increase
Of IS per cent over February Of this
year and the largest monthly total since
August, 1929. Compared with March,
only 5 per cent. In the first quarter
Of this year contracts placed aggregated
1,100, 147 200. or about IL per cent be-
low the corresponding period Of 1929.
Contemplate new work Of all kinds re-
ported in March amounted to 1882, 1885,
900, compared with $3.50, 209. 400 re-
ported IN February and 1886, OH, 100 In
March Of last year.
1 Sales Of S32 department stores In
March were IL per cent below the CORE
spending month of year ago, while for
first quarter decline was per cent, ac-
cording to preliminary reports made to
the Federal Reserve System. Sales Of
so chain store systems for March were
81 per cent smaller than Q year ago,
but for three months showed an in
crease Of 81 per cent above the CORE
spending period Of 1929.
Copper statistics for March indicate
that stocks of refined copper were in
creased 22,0o7 tons during that month.
Stocks ct the end of March totaled
256, O20 tons, compared with 233,123
tons on March l, 1880, and only 52,968
tons on April /, 1929. Output of copper
during March was at the lowest daily
rate reported since 1927. It averaged
4,09o tons or 299 below February's aver
age.
Domestic production of crude oil in
the week ended April 5 averaged $780,
$50 barrels daily, an increase Of $3.50
barrels over the previous weeks average,
but 127, $50 barrels below the average in
the like week Of 1929. Increase over the
previous week was due to an advance
In Oklanoma's output by 20,600 barrels
daily. Gasoline stocks, IS reported by
refinerieS representing 96.6 per cent OF
the refining capacity Of the country, de-
creased o31, 900 barrels to S3,80S, 900.
During the week prices Of both crude
oil and gasoline were advanced: This
action would seem to indicate that the
operators are satisfied with their pro-
gress In effecting better balance be.
tween production and consumption.
with the season Of heavy demand for
oil approaching, it is believed that prices
will continue firm, with further adj
vanceS not unlikely.
The Companies.
Advance Rumely Co. to close Battle
Greek, Mich, plant.
| value Of common stock about $50 O
share on basis Of current prices OF its
securities.
American Type Founders estimated
income six months to February 70,
1880, equivalent to $5.67 on common
stock vs.. S0.44 In like previous period.
British Empire Steel, Dominion Steel
and Dominion Iron & Steel directors
approve consolidation Of three com.
pa1,ies into one unit, to be known as
| the Dominion Steel b Coal Corpora.
| ton. Plan calls for the exchange OF
securities Of constituent companies for
! those Of the new corporation.
Continental Diamond Fiber stock
| holders to vote on proposal to increase
authorized capital stock to 100000
shares from 100000.
Cumberland Pipe Line declared extra
| dividend Of Ga IN addition to regular
quarterly dividend Of 81 on common
stock. ..,,..
Detroit Edison net income, after all
deductions, In u months ended March
81 OF per cent from previous like
fiscal year.
Ford Motor accounted for 20 per
cent Of registrations In 10 States In
March, with 26,622 passenger cars
titled, against 16,648, or Al per cent, in
February and 21,737, or 80 per cent, in
Foote-Burt Co. earned 50 cents on
common stock In quarter ended March
81, 1880, vs.. $50 IN previous like quar-
! N1o~, vo-A Ynva~horm nary,aA "a ~ a.,