Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-12
Corporation News

NEW YORK, April 1.-THE follow
ing is a summary of important cor
poration news prepared by Standard
Statistics Co., Inc, New York, for the
Associated Press.
News Trend.
The weekly mercantile reviews find
that very little has been added to pre-
vious gains in business during the past
fortnight The trend of buying still
plainly shows that caution is the rule.
but the nearer approach Of Easter has
quickened the retail movement and
merchants are hopeful that the attrac-
tive values available will eventually
stimulate larger response. The check
in the decline in commodity prices and
the evidence of steadiness in this re-
Spect has encouraged greater buying
activity in some lines.
Corporation items of outstanding in
terest were the announcements that
majority of stockholders of youngstown
Sheet and Tube had ratified merger of
that company with Bethlehem Steel
Corporation, and that contest for con-
troll of National Air Transport was won
by the incumbent Curtis Wright-Keys
| group. Favorable dividend declarations
| Michigan Steel.
| Bank clearings in the principal cities
| of the country during the week ended
| April 10, showed the smallest decline,
! compared with year ago of any week
! thus far in $780, Total was 10,879,-
275000, or 6 per cent less than those
in the like week of 1929. In New York
City the clearings amounted to $7,634,-
100000, decline of 40 per cent below
year ago, while for % outside cities,
total was $3,245, PTS 900, or 81 per cent
below last year.
The Companies.
Alabama Great Southern Railroad
earned S!1.24 on common stock in 1929,
against $11.44 in 1923.
American Telegraph & Gable stock
holders approve sale of all assets and
properties of company to Western Union
Telegraph for $2,030,Oo0.
Atlas Imperial Diesel Engine earned
10 cents on combined A and B stock in
quarter to February %, 1880, against
SO cents in like previous quarter.
Charts Corporation declares extra
dividend of 25 cents on common stock
in addition to regular quarterly divi-
| dend of so cents.
| Consolidated Retail Stores, March
! sales of 81 per cent from year ago.
three months sales up 11.3 per cent.
Had % units in operation on March
81, $780, against 26 on same date 1929.
CoSgroVe- Meehan Coal earned 6.72
on preferred stock in 1929. In 1928
! earned AZ cents on common shares.
Durham Hosiery Mills earned cents
on common stock in quarter to March
| 81. 1880.
! H. H. Franklin Manufacturing retail
deliveries first quarter were 2,503, new
high record, and companies with 1902
! in largest previous quarter.
Michigan Steel declares extra dividend
| of per cent in stock.
! Seimens & Halske merger with
Hemimann interests reported to be near
consummation.
Standard Oil of Indiana advances
price of gasoline l cent gallon.
Standard Textile Products earned
$4.64 on SIS class B stock in 1929 against
mon stock in year 1929 against 1881 in
1928.
United Aircraft g. Transport contest
with Curtis-W right-Ke group for
control of National Air Transport won
by that group.
Utah Copper earned S2072 on COM
mon stock in year 1929 against 1881 in
1923.
Warner Bros Pictures acquires sub
stantial interest in patents and licenses
of Tobis Klang Film group for talking
pictures throughout the world, with eX-
ception of United States.
White Star Refining advances price
of gasoline at service stations and in
tank cars / cent a gallon.
Youngstown Sheet & Tube merger
with Bethlehem Steel ratified by ma
jority of stockholders. Total number of
shares voted in favor of merger was
857,821, while 799,141 votes were re-
quired. These include the $1,000 odd
shares which opponents of merger have
declared could not be legally voted.