Evening star., 1930-06-11
Corporation News

NEW YORK, June 1.-THE following
is today's summary of important corpor-
alton news prepared by Standard Sta
tisticS Co, Inc, New York, for the
Associated Press
News Trend.
Steel activity witnessed a further
slight recession in the past week
Operations In the industry as
whole averaged about II per cent of
capacity against a shade above II per
cent In the previous week. In the like
week of 1929 average was about 81 per
cent and in 1923 slightly under rs per
cent. The United States Steel Corpor-
alton maintained its rate at IS per cent.
put independent rate declined to about
81 per cent from Sta per cent a week
ago.
Railroad freight car loadings for the
week OF May 81 were the lowest for the
period since 1922. Total of $50 .249 cars
was 7l,223 below the preceding week,
due chiefly to the Decoration day holi-
DAY and the fact that the following day.
IN many instances, was observed az a
holiday. Compared with 1929 week de-
crease was 112,575 cars, while against
1873 period reduction was 74,424. All
olstrlcts reported decreases compared
with 1929, while all except the Pocahon-
tas region reported reductions compared
with 1928 period.
outstanding in corporation news ts
the large number Of unfavorable divi-
oend announcements. Reduction in
quarterly rates was made by John r
Thompson, Newton Steel and Conti-
mental Diamond Fiber, while omission
OF payments was announced by Celotex
and American Seating.
The Companies.
American Seating passed 50-cent
quarterly dividend on common stock
due at this time
Atlantic Refining acquires Tarzan OIL
Co. of Rochester, N. Y.
Canada Power & Paper to absorb An
glo-Canadian Pulp & Paper Mills
through exchange of az shares Can
ada Power & Paper stock for share
Anglo o-Canadian ordinary stock.
Chicago, Milwaukee, st. Paul k Pa
c1f1c Railway May gross OF 1877 per
cent; net down so per cent.
Continental Diamond Fiber declared
quarterly dividend of so cents; last
payment rs cents
Celotex Co. passes quarterly dividend
OF rs cents on common stock due
July /.
Diamond Shoe May sales up 1877 per
cent; five months, IT'S per cent above
year ago.
General Refractories propose increasing
capital stock from 100000 no par shares
to 100000 shares. Additional securities
for acquisitions from time to time.
F. w. Grand 5-10-25 Cent Stores,
Inc, May sales up per cent; flve
months, 1912 per cent above year ago.
Great Atlantic & Pacific Tea May
sales up 7.8 per cent; five months, 81
per cent above year ago.
Gillette Safety Razor introduces de
luJe line retailing from SIS to SIS each.
also new de luxe blade selling at 50
for 10.
Hamburg American Line awarded $3s,-,
801, 900 by war claim arbiter for vessels
seized during World War.
International Nickel of Canada pro-
pose increasing common stock to l5,-
100000 shares from l9,928,5 Rights
to purchase new shares for each 100
held at $40 share to be offered stock
holders Proceeds for completion Of
expansion program.
international Silver obtains new
Waldorf Astoria Hotel silver contract;
initial order calls for over 100000 pieces.
Isaac Silver g. Bros. Co., Inc, May
sales up 26.2; five months, q 3 per cent
above year ago.
Jonas g. Naumburg omits preferred
dividend of rs cents, due July l.
Lucky Tiger Combination Cold Mln-
ing declares dividend of 10 cents on
common stock; last payment, 21a cents,
November 20.
MacMarr Stores May sales up los
per cent; months, SO per cent above
year ago.
Newton Steele declares quarterly divi-
dend of so cents on common; cost pay
ment, rs cents.
North German Lloyd awarded ST.
311 900 by war claim arbiter for vessels
seized during World War.
Sally Frocks May sales up So per
cent; months, 49.4 per cent above
year ago.
Singer Manufacturing declares ex-
ira and regular quarterly dividends OF
$3.50 each; last extra, $3.50, March 81.
Nathan Strauss, Inc, May sales up
34.5 per cent; 5 months, 27.5 per cent
above year ago.
John r. Thompson Co. declares quar-
terly dividend of rs cents on common
cost payment, 80 cents.
United Electric Coal earned 80 cents
on common stock in 8 months to April ,
80, against salt in pervious like period.
Westinghouse Electric g. Manufactur-
ing makes patent licensing Arrangement
with English Electric Co., Ltd. of Lon
don; to acquire minority interest In
company.