Evening star., 1930-11-30
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS


LEADING ORGANIZATIONS
NEW YORK, November 29.-The fol-
lowing is today's summary OF important
corporation news prepared by Standard
Statistics Company, Inc, New York. for
the Associated Press.
News Trend.
With the majority of important Octo-
Der railroad earnings statements now at
hand, It is evident the results for the
month will be poorer than expected.
Net operating income of 68 roads shows
q decline of 273 per cent from year
ago, whereas, in September shrinkage
was about % per cent. However, decline
will be smaller than the 80 per cent
average contraction for the earlier
months of 1880.
Dividend omissions were announced
during the past week by Otis Steel and
Crown Zellerbach. Standard Cap e.
Seal declared an extra dividend Of so
cents, while year ago extra payment
was So. OF the large number Of earn
ings reports, only Chicago Great West
ern Railroad shows higher share re-
turns than in 1929.
This weeks bank clearings continued
at the levels of recent periods. Ex-
changes ut principal cities were Oh 3S.9
per cent from last year, with New YORK
City's reduction Ais per cent and other
points 33.1 per cent. Commercial In
solvencies for the week numbered 46l,
contTasted with 371 in the 1929 period.
The Industries.
Chemicals-Domestic chemical indus
try, broadly considered, continues to
make relatively favorable showing in
present business depression. While its
earnings have recently declined consid-
erably in response to substantial con-
traction In general industrial activity,
the shrinkage has been much less sub
stantial than that suffered by most
trades. Earnings in this field for the
full 1880 year probably viii average only
about 20 per cent under record returns
of 1929, whereas aggregate corporate
profits are likely to experience q re-
cession Of some IS per cent
Leather d Shoes-Monthly shoe pro-
duction has 6een showing an increas-
1ngly unfavorable comparison with last
year, and there Is no present basis for
anticipating sustained near term re-
versal Of this trend. Consequently,
earnings Of practically al manufac-
turers during the second half year wiz
make less favorable comparisons with
1929 than was the case in initial
months. Hide prices have resumed
their downward trend in response TO
inability of tanners to continue TO abb
Sorb supplies at rate undertaken earlier
In 1880. Leath.r stocks continue to
mount, moreover, suggesting improba-
bility of any suctaiced advance in hide
quotations during early future. The
more distant future prospects for tan
ners Is also unimpreSsive, in view OF
the overbuilt condition of the industry
and the long term downward trend OF
leather consumption.
Milling October -four exports eSti-
mated at l,329,772 barrels, valued ct
e0,2B2 ,036. against September shipments
of l.41l.7e0 barrels. valued at e6.62e,-
2oi. First 10 months exports were IL
026,006 barrels. valued at SIS, ,6l0 $50,
967. $50, ,958 In 1923 period.
OE-Reported Rockefeller interests
have disposed Of holdings IN five OF the
original Standard Oh units in order to
concentrate interests in a few of the
companies including Standard Oil OF
New Jersey. New York, Indiana, Cali
fornia, Ohio and Vacuum.
The Companies.
Buffalo, Rochester & Pittsburgh Rail-
way October net operating income of
IL per cent; 10 months. off 26.6 pei
cent; preferred share earnings, 8 months
TO September 30. $34l against SS06.
Candian Pacific Railway october net
operating income of l0S per cent: 1C
months, of 19 per cent.
Chicago, Great Western Railroad, 81
preferred share earnings; 10 months tc
october 81, $591, against $l2.02.
Chicago. st. Paul, Minneapolis &
Omaha Railway, October net operating
off
on 36.5 per cent.
Consolidated Film Industries. new
Swear contract with United Artists.
Crosley Radio introduces new receiv-
ing set at $3.50.
Crown Zellerbach omits dividend or
common stock voting trust certificates
last payment 25Scents.
Delaware & Hudson Co October me-
operating income of 288 per cent: II
months of 27.4 per cent.
Denver g. Rio Grande Western Rail.
road preferred share earnings; II
months to October 81, $2.74, agains'
SI3.76.
Goodrich B. F. Co. plans Miami fac
tory branch.
Goodyear T. g. r. planning capacity
operations after turn Of year..
Gulf. Mobile g. Northern Railroad
october net operating income OF 5.t
Hollinger Consolidated Gold Mines II
months output exceeded S3.25o, 600; sur
plus of over $500 900 expected at enC
Of year, after dividends.
Illinois Central Railroad October ne
operating income up IA per cent; II
months off 1876 per cent.
Ingersoll Rand preferred placed OF
quarterly dividend basis; formerly pait
eemi-annually.
Kelsey Hayes Wheel to move Buffalo
plant to Detroit.
Libbey- -Owens-Fo Glass reportet
factor In bringing about new Belgian
glass trust.
Missouri Pacific Railroad share earn
ings 10 months to october 81, 1854
against $o.53: contracts to buy North
east Oklahoma Railroad
Monsanto Chemical Works to increas'
cash dividend to recompense for dis
continuance of stock dividend.
Nashville, Chattanooga g. st. Loui
Railway October net operating incom
on 64.l per cent; 10 months OF 54'
per cent.
North German Lloyd 1890 gross re
S,nfuta Y&eftr,afad NJ e76 000 110.