Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-29
CORPORATION.
REPORTS
TRENDS AND PROSPECTS, OF
LEADING ORGANIZATIONS

NEW YORK, September 29.-The
following is a summary of important
corporation news prepared by the
Standard Statistics Co., Inc, New York,
for the Associated Press:
Weekly News Review.
The trend of commodity and stock
prices continued downward during the
past sweek. Except for a moderate ad-
vance In quotations on Tuesday prices
on the Stock Exchange declined sunin-
terruptedly during the six trading ses-
S1onS. Numerous issues sold at new low
levels for the year. On Saturday the
Standard Statistics weighted index of
prices OF 80 leading stocks broke
through its 1890 low point of 1910.
Based on closing prices of that day the
average stood at 1882, or Is points
above the low level of 1929, established
on November Is. Sales volume aver
aged about 100000 shares daily, the
heaviest in several months. The action
OF the stock market in recent weeks Git
has declined almost steadily since Sep
7, mber lO) reflects largely, it is be-
lieved, disappointment at the extent of
the Fall trade recovery. On the COM
modify markets weakness also con-
tlnued undated and new low prices
were reached for wheat cotton, copper.
rubber, silk, cocoa and several other
products.
Brokers' Loans.
Brokers' loans, /as reported nv the
Federal Reserve Board, were unchanged
for the week ended September "a. total
remaining at 1922 900 900. Declines of
$27,O0O,00O in loans for Others" and
$44, 100000 in account of out-of-town
banks were Offset by increased lendinrs
by New York member banks. In the
period covered by the report our stock
price index lost So points. Money
rates were reduced further during the
week. The official call rate was cut to
per cent, but outside the exchange
| FUNDS were available at per cent.
Time money for so to 1870 days was re-
| duced to the lowest in several years,
ranging between and ga per cent
Daily average volume of Federal Re-
serve Bank credit outstanding In the
week ended the oath was $999, 900 600,
declining 100000 from preceding
week and $403 ,000, 10000 less than in
1929 period. The reserve ratio of the
Federal Reserve System advanced to SO
per cent from 81.6 per cent in the pre-
ced1ng week and 1913 per cent year
ago.
Seasonal Gains.
Reports of industrial activity pub
lished last week indicated there has
been some further seasonal gains in
operations. Production in the steel in
dustry was increased about per cent
to 81 per cent of theoretical capacity
This Is the largest weekly gain in sew
eral months. Automobile manufacture
ers have increased requirements moder-
ately, radio demand is good, and agri-
cultural implement makers are begin
ming to enter the market. Contrary to
the demand of recent months, which
has been almost entirely for Immediate
consumption, present orders are being
placed to some extent for future de-
livery in an attempt both to cover
fourth-quarter requirements at prevail
ing prices and, in some cases, to antici-
pate early 1891 needs.
While the steel companies are reluctant
to quote for delivery beyond January /
because Of the Improbable level Of cur
rent prices, the trend, If continued
would do much to improve the backlog
| OF orders on books, although it can be
Of little aid to increasing the profits OF
the companies during the remainder OF
| the year.
Freight Car L0adings.
Railroad freight car loadinRs for the
week ended September 10 aggregated
965, 713 ears. This was increase 1O.2
per cent over the preceding week, which
included Labor day, but 1872 per cent
below the 1929 period and below any
other like period since 1921. Geo.
graphically the central Western region
made the best showing, as It has fol
several previous weeks, while results fol-