Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-23
Corporation News

Corporation News
NEW YORK, April 23.-The following
is today's summary Of important corr
poration news prepared by Standard
Statistics Co., Inc, New York, for the
Associated Press:
News Trend.
Operations in the steel industry were
advanced slightly during the past week
to about 76la per cent of capacity, COM
pared with rs per cent in the previous
week and 90 per cent a year ago. The
United States Steel Corporation in
creased its rate of output to 81 per
cent, against 70 per cent in the preced-
ing week; independents are running at
about 70 per cent, contrasted with II
per cent a week previous. At this time
last year the Steel corporation was at
capacity, while Independents were run
ming at So per cent; in 1928 the Steel
corporation was at SO. per cent and In
dependents at 81 per cent with industry
average IS per cent.
Freight loading for the week of April
IL totaled Gil, $40 cars an increase of
1882 cars over the previous week but
the lowest of any like week since 1924.
Compared with 1929 total, was 81 ,842
lO"C1, Willie dkdlIlSL 1890 QeCllHe WAS
1,349 cars. All commodities but grain
products registered decreases contrasted
with 1929 figures.
Ofncial figures on crude oil production
make much more favorable showingS
than estimate. Daily average output In
the week Of April was 2,560,000 barrels,
decline Of ESQ barrels from previous
weeks average. Preliminary estimate
showed an increase of 1882 barrels.
IIf vFyoc no kAaP All
daily.
The Companies:
Allis Chalmers Manufacturing earned
SO cents on common stock in March
quarter against SO cents in like 1929
quarter
American Piano certain properties to
be sold at public auction May 81.
Brooklyn Manhattan Transit March
surplus after charges $748,007, after nni-
nority interest against $712, 1916 year ago;
9 months surplus $5,164,018, after mi
nority interest, against $4,697,675.
Chesapeake & Ohio ailway to spend
$5l ,336,630 on additions, betterments,
purchase of equipment and construction
Of branch lines.
Chrysler Corporation shipped s,sO1
units in March.
Commonwealth & Southern Corpora
ton declares initial dividend of 81 so on
So preferred stock.
Fox film affiliate, West Coast Thea
tiers, plans erection Of Is new houses,
involving expenditures OF about $1,000.
600.
General Motors q. s. Government Sc
curities on March 81 amounted to
$125,814,o39, against $181, 963, 199 on
March 81, 1920. Net working capital
March 81 was $267, 791 SAL, against
$25l ,287,782 on December 81, 1929.
| March sales to users 123,78l units,
against l66;942 year ago: months sales
sales to dealers Gncluding Canadian
and foreign, 135,93O, against 220,391
year ago; 3 months sales 368,635 units,
against 523,119. Delco Light sales $780,
600 In first two weeks Of April. Earned
81 cents on common stock In March
quarter, against $1.37 in like 1929 quar-
ter.
Graham-Paige April shipments to-
tailed $500 units, against 1887 in March.
In April, 1929, production totaled H.
| $50 cars
Indian Motor Cycle acquires substan-
tlal stock interest In du Pont Motors
Inc. e. Paul du Pont has been elected
director and chairman of executive
committee; F. I. du Pont also was
elected director.
Industrial Rayon earned $3.50 on
81 go in like 1929 period.
International Business Machine earned
$2.82 on common stock in March quar-.
ter, against $3.50 in like 1929 period.
International Shoe currently produce
ing about 165, 900 pairs of shoes daily,
about $4,000 below peak attained in Oc-
tober last.
Missouri Pacific Railroad Van swer-
ingen interests have notified Missouri
Pacific management and P0od,e h0VAkAPo
that they will oppose plan to refund
bank dividends on preferred with an is
sue Of common stock.
New York, Chicago & st. Louis Rail-
road earned rs cents on preferred stock
in March quarter, against $3.50 on COM
mon stock in like 1929 period.
Norfolk & Western Railway earned
$5.03 on common stock in March quar-
ter, against S5.45 in like 1929 period.
Phillips Petroleum sales of natural
gas in first quarter, $4,000 .O00, 900 cubic
feet Number of stockholders increased
10 per cent in first quarter.
Radio Corporation of America on
completion of acquisition of 6.5So,375
additional shares of r. c. A. common
stock by General Electric Co. and west
inghouse Electric & Manufacturing, for
mer company will hold 319 per cent Of
voting power and latter company 1875
per cent.
Southern Ice & Utilities committee
appointed in connection with plan for
exchange of securities for 81 so interest
bearing allotment certificates of Asso-
ciated Gas & Electric.
Standard Gas & Electric earned $7.01
on average common shares outstanding
in 1929, against $6.57 in 1928.
Standard Oil Co. Of California tank
wagon price of gasoline advanced to
81 X cents gallon from 1872 cents, in
Guiding Scent State tax. Actual price
to dealers remains at 1871 cents, thus
increasing dealers dtfferential from 4
cents to cents.
Union Pacific Railroa March net
operating income OF A per cent from
year ago; three months net Of 43 per
cent.
Western Union Telegraph recently ac-
quired American Telegraph & Gable to
be dissolved.
William Wrigley. Jr., Co. earned $1.32
on common stock in March quarter,
against $1.33 in like 1929 period.
Youngstown Sheet & Tube-Cyrus S.
Eaton, E. G. Brainard and Hugh B.
Wick elected to board.
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