Evening star., 1930-06-26
Corporation News

NEW YORK, June 26.-The follow
ing is today's summary OF important
corporation news prepared by Standard
Statistics Co, Inc, New York, for the
Associated Press:
News Trend.
Outstanding in the days corporate
news is announcement of the American
Tobacco Co. that stockholders would be
asked to vote on a plan to split the
common and common B stock on a
basis of two new shares for each present
share. If plan is approved, directors
announced, an extra dividend OF 81 a
share will be paid on old common and
new stock will be placed on SIS annual
basis equivalent to $40 on old stock,
which is now on an So basis.
Companies announcing the omission
or reduction of dividends included Gen.
eral outdoor Advertising, U. s. Smelt-
ing, Refining g. Mining, Macmillan Pc
troleum and Consolidated Royalty Oil.
Favorable earnings statements were
published by Collins & Aiken and Lef-
court Realty.
The Companies.
American Ice May net, after interest
but before taxes and depreciation, up
16 per cent; five months, IL per cent
American Tobacco stockholders to
vote on two-for-one split-up of $50 par
common and class B common. Each
new share to be $25 par and will be
entitled to one vote. Preferred stock
voting power to be increased from two
votes to four, to preserve relative voting
power of issues. If approved, an extra
dividend of 81 will be paid on old COM
mon stock and new common viii be
placed on SIS annual basis. Net income
first five months increased 100 per cent
over 1929 period.
American Shipbuilding declares quar-
terly dividend $1.25 on new no par COM
mon, equivalent to $3.50 on old COM
mon.
American Water Works & Electric
May net up slightly; IL months to May
s per cent above year ago.
Associated Apparel Industries, Inc,
earned $305 on common stock In six
months to May 81.
Associated Gas & Electric surplus
after charges II months to May 81, in
cluding newly acquired properties from
date acquisition, $18,622, 1872, against
S8,224,755 in previous year.
Atlantic, Gulf SE West Indies Steam
ship Lines April net income off Is per
cent: four months, 25 per cent below
year ago.
Belding- -Heminway Co. reduces price
25-yard darning silk from SIS cents list
per dozen to 40 cents.
Collins & Aikman Corporation earned
$1.01 on common stock in quarter ended
May 81, against "a cents in 1929 period.
Consolidated Royalty Oil reduces
quarterly dividend to 121a cents from
is cents.
Erie r. r. May surplus of 75.2 per
cent; five months, S5.4 per cent below
year ago.
cents quarterly dividend due at this
time.
Great Northern Ry. House I. C. C..
committee amends Senate consolidated
resolution to forbid conSummation of
proposed Great Northern and Northern
Pacific merger until after March 4, 1881
Great Northern Railway May net op-
Grating income of 66.8 per cent: S
months, 1913 per cent below year ago.
international Shoe Production six
months to May 81 totaled 25,334 300
pairs, 1881 above output in 1929
period and new high record.
Lefcourt Reality earned $1.71 on COM
mon stock in 6 months to May 81,
against SLAB in 1929 period.
Macmillan Petroleum on1its quarterly
common dividends of so cents cash and
2 per cent stock due at this time.
Mirror (The) had deficit $9,204 in
1929.
New York, Rio & Buenos Aires Line
carried 5,055 passengers between North
and South America, period January
to May 81.
Pennsylvania Railroad May net oper-
ating income of 286 per cent; months
276 per cent below year ago.
Public Utility Holding Corporation of
America acquires minority interest In
L'Union Electrique Rurale, French util-
ity system.
Puget Sound Power & Light May net
up II per cent; months, II per cent
above year ago.
South Coast had deficit s85s,o93 in
year ended February %, 1880.
United States Smelling, Refining &
Mining declared 25 cents quarterly COM
mon dividend; formerly paid 871a cents.