Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-12
Corporation News

NEW YORK, July 12-The following
poration news prepared by Standard
Statistics Co, Inc, New York, for the
Associated Press.
News Trend.
Copper statistics for June show stocks
OF refined copper were increased fur
ther during the month to the highest
level since September, 1921. Supplies
at North and South American refineries
aggregated 316,762 tons on June 30
This was 8,1l6 tons larger than stocks
of May 81 and 1882 tons above a
year ago. A reduction in surplus stocks
had been generally expected, and it is
believed the. expansion Is due to the
further deferring of shipment of the
large orders placed in May Domestic
production was reduced about $500
tons, compared with May and 25,889
from June, 1929.
The weeks commercial failures num-
bered 428, against 435 in the previous
week of five days and 400 two weeks ago.
Bank clearingS were sharply reduced
compared with a year ago, chiefly be-
cause there were six business days in
the 1929 weeks against five this year.
Aggregate for principal cities was
So, POI 1854 900, drop of 3a4 per cent
clearings declined 422 per cent, while
exchanges in cities outside New York
were 28.6 per cent lower.
The Industries.
Coal--June output of bituminous coal
estimated at 1888. 900 net tons, 6.3 per
cent less than in May and SO per cent
below year ago. Anthracite production
is estimated at 5000, 900 tons, decline
NJ q q
cent above June, 1929.
Copper-Stocks of refined copper at
North and South American refneries
totaled 3l6,762 tons on June 80, an
increase of 8,116 tons over May 81
stocks and 233, 622 tons larger than on
June 80, 1929. June production by
domestic mines totaled 56,465 short
tons, against 60,238 in May and 80 1854
in June, 1929.
Petroleum-South Oklahoma CITY
operators have voted to shut down all
wells up to prorated output allowance
or which have produced over allotted
amounts. Shutdown to permit pipe
line companies to clear oil storage on
leases and allow operators or under
produced wells to make up their allow
ance.
Railroad-Interstate Commerce Com
mission has requested carriers to fur
nish complete information as to oper-
alton of motor buses. This is initial
step in its recently instituted inveStiga-
ton into coordination of motor trans
portation with railroads under commits
sion'S jurisdiction.
Sugar-Sugar melt IS domestic re-
finers in Period January l to June %,
totaled 2,365 900 long tons VS.. 2,585 900
long tons in like 1929 period, according
Sugar Institute, Inc. Deliveries totaled
2,l45,0 900 long tons VS.. 2,345,000.
The Companies.
Air reduction first half earnings, esti-
mated at 1885 common share against
$3.45 in 1929 period.
American Boveri reported untitled
shipbuilding business totals about $780,
600, 900.
Auburn auto had $14,733,842 current
assets leash $4,831 .209), against cur
rent liabilities, $4,473,153 on May 81.
Inventories were about $4,000, 900 less
than on November 80, 1929.
California packing reported will soon
offer $15,000,000 10-year per cent
debentures, convertible into common
stock at about SIS. Proceeds will fur
nish additional working capital.
Chicago, Milwaukee, st. Paul e. Pa
cific railroad, June net operating m
come estimated $547,000, against ST.
089, 900 year ago.
Continental Baking earned cents
on B shares in 10 weeks to June q
against is cents in 1929 period. In Is
weeks earned Sill on stock (nothing
remaining for B shares after dividends)
against $3.50 in 1929.
Cutler Hammer, Inc, June quarter
shipments totaled 1888, 1898, against
$2,524,20 in March quarter
Durant Motors June shipments in
creased per cent over May.
A. Hollander &c Sons, Inc, earned
90 cents on common stock in first half,
against $l.6S in 1929 period.
International Printing Ink propose
increasing authorized common stock
from 100000 to 100000 shares, and
preferred from 98,451 to 100000 shares.
Also will change name of company TO
International.