Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-19
Corporation News

NEW YORK, July 10 (P.-The fol-
| lowing is today's summary of important
corporation news prepared by Standard
Statistics Co., Inc, New York, for the
| Associated Press:
News Trend.
Although indications of improvement
in industrial activity have been report
ed from some quarters, there are yet no
reports or data to signify a broad re-
versal of trend. During the past week
money rates have again receded to new
low points, clearly rejecting extreme
lack of employment for funds in COM
mercial lines. News of most favorable
character has continued to emanate
from the oil fields. with all flush pools
in Texas, Oklahoma and California pro-
ducing at sharply curtailed rates. Later
reports disclose that similar steps also
have been taken by operators in the
Northwestern Pennsylvania and West
Kentucky fields.
Additions to six months corporation
reports reveal that in spite of arltici-
pated showings of an extremely I'M
favorable nature, some companies show
marked improvement over previous
years results, and, taken as a whole
earnings do not appear to fall below ex-
pectations. General Baking, Lehigh
Valley Coal and Motor Products Corpo-
ration earnings were down, while Gould
Coupler and Houston Oil of Texas re-
port improvement. Emporium Cape
well cuts it quarterly dividend rate,
Sears Roebuck announces decline In
sales, and Hudson motor car six months
shipments are reported considerably be-
low 1929 levels.
The Industries.
Copper-Domestic sales of copper
have been made at IL cents delivered;
at least one large producer at that price !;
foreign metal 1155 cents at European
base ports.
Oil-Operators in northwestern sec
ton of Pennsylvania, excluding Brad
ford and Allegheny fields, agree to cur
| tail oil production 30 per cent, effective
Monday, July 81.
Radio-First-quai'te data on the
radio industry indicate that only q
small percentage of set and tube manu-
facturers were able to make a profit in
the period. Although little information
regarding second-quarter results is avail
able, all indications combined with sea-
| sonal quiet in both wholesale and retail
radio trade would render a reversed
trend In the second period unlikely.
Zinc-World production of slab zinc
amounted to 95,3Q3 short tons In June,
compared with 1890 in May and 81, 661
in April, according to American Bureau
of Metal Statistics.
The Companies.
Allegheny Corporation earns cents
common share In June quarter; six
| months, IS cents.
American Radiator 81 Standard SAM
tary Manufacturing president says
| company booked over $4,000, 900 heating
! contracts in May and June resulting
from sales campaign.
American States Public Service presi-
! dent says first six months earnings
| about 8 per cent ahead of 1929 period.
Brazilian Traction, Light & Power
| Co., Ltd, June gross of is per cent;
six months, / per cent over a year ago.
Community Power & Light June net
| after taxes; before depreciation, amorti-
| cation and interest, up l per cent; IL
months, ga per cent over year ago.
Driver Harris appointed licensee for
| Krupp- Nirosta stainless steel patents
General Baking in 81 weeks to July
5 earned S2.27 share, against $3.77 to
July 6, 1929.
Gould Coupler earned 40 cents share
III OuIlc QudIUtT, ID GENUS year dBO,
| six months, SLIT VS.. As cents.
! CRANKY Consolidated Mining, Smelt-
| ing g. Power had net before deprecia-
| ton, depletion and Federal taxes $418,-
| 099 in June quarter against 81 1874 ,8l3
| year ago; six months net off per cent
Houston Oil Co. Of Texas June quar-
| ter share earnings, SLAB VS.. $1.20: six
months, $3.50 against $2.04.
Hudson Motor Car six months ship
, ments reported around 10000 units
compared with 225 1000 in same 1926
period, and dealers stocks average about
FIVE cars.
international Telegraph 81 Telephone
gets Dutch West Indies concession.
Lehigh Valley Coal had deficit $40.
992 in June quarter, against deficit
$l6S, TOT year ago; six months deficit
1888, 200 VS.. net S299,621.
Market Street Railway June net after
charges off 81 per cent; IL months III
81 per cent.
Middle West Utilities granted tax re.
fund Of $244,2l8 by Bureau Of Interna
Revenue.
Motor Products Corporation earned
$1.68 share in June quarter, against
$4.04; six months, S3.05, against SS.76
National Steel first half net income
estimated S6,l00,000; July operations ex'
pected to average 10 per cent; August
estimated 85 per cent.
Sears, Roebuck four weeks sales Il
July 16, down Is per cent; % week:
to July 16, off per cent.
, Sinclair Consolidated Oil states in.
yestment in Sinclair Pipe Line and Sin
clair Crude OIL Purchasing subsidiaries
was $44, 1879 900, not $34, 10000.
Nathan Straus June sales up IA pei
cent six months, rs per cent over veal
ago.
United States Rubber sued by Over.
man Cushion Tire Co. for alleged pat
ent infringement on tires manufac'
tured under name of United State:
Airflex"
u. S. Steel subsidiary, Carnegie Steel
starts construction new continuous ba
mill, to cost about $2,o0o.0o to be IL
! operation early 1881.
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