Evening star., 1930-12-08
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

LEADING ORGANIZATIONS
NEW YORK, December s.-Tne fol-
lowing Is summary of important COR
poration news prepared by the Standard
StatlSlcs Co, Inc, New York, for the
Associated Press.
Weekly News Review.
Activity on the Stock Exchange con-
Volume of transactions for the fiye-and-
one-naII trading session averaged about
l,6OO,0OO shares per 5-hour session
against 100000 shares in the nreyious
week and 100000 in the same 1929
period. Prices drifted irregularly lower.
index OF quotations losing 2.8 points. or
IL per cent. The explanation sug-
gested Tor the current apathy in the
share market Is that SPECTATORS and
investors have failed to anticipate the
.uTn In business on several occasions
Cn!S year and now are awaiting definite
evidence of economic betterment before
shares. S%~-"
Bonds were soft, the price averages
Ialllng to new record lows in several
sections of the list. Commodity mar
Kets generally displayed a firmer tone.
In the metal group silver and tin were
on substantially, but copper was ad-
Sanceo 2 cent to 1112 cents a pound
registering strength were rubber. siilS
and cocoa. Sugar quotations were lower
ana coftee prices declined steadily on
un1avorable reports of the Brazilian
situation. Money rates were unaffected
py Cne month end or seasonal demand
Can money remained at 2 per cent with
1unds available outside the exchanges
most OF the time at ~ per cent. Vol
ume OF Federal reserve bank credit
t,ao tT,uSSCanalng averaged 81 ,093 900 900 in
tne week ended December 3, Total was
an Increase Of $71 ,000, 900 over the pre-
Seolng weeks average, but .$509, 600 600
below the average of the Ike week last
year. Brokers loans in the same period
declined by $11 100000. This dror, was
considerably smaller than In any cor
responding period since the current
uoWnWard trend in borrowings first be-
came evident on October z.
Tne latest figures Of SILL 900, 900 is
Gne lowest since April, 1925. In the
reported by the Federal Reserve MEM
per banks In the New York district
nave Deen reduced by Sill, ,00o, 900.
Industrial Indices.
Tne usual indices Of industrial or,Ar.
atlons published during the weel( re-
nected a further recession of activity To
new low points for the year. Latest
avanaoIe freight car 1oadings figures
covering the week ended November 90
agsnegated IT9,757 cars. This total in
aooltlon 70 being the lowest of any like
Perloo Since 1921, Is the smallest of
any week, with the exception of two
holiday weeks at the end of 1928 and
tne beginning Of this year, since Nav.
1872. Electric power generated in the
week ended November 30 declined by
SO per cent from the total for the like
week OF 1929, contrasting with decreases
ranging from "A per cent to SO per
cent during the early part of November
however, that this change in trend of
proouctlon Is likely t. be temporary is
suggested by the National Electric Light
ASSOCIATION, which explains the result
as oelng due largely to the greater use
OF eIectrlclty made necessary by the
Storlns ana cold weather in the North
ern states during the final days of last
month. Steel ingot production in the
week ended December / was reduced /
per cent on a daily average to SO per
cent OF capacity, compared with 43 per
cent TWO weeks ago. The most interest
ing development in the steel industry
was the advance In price Of bars. shapes
and plates of 81 ton by leading nro-
ducers. 1t is felt this move is a con-
sCructive one and may stimulate a gen.
eral rise throughout the list of steel
products. AT current levels, prices for
deliveries IN the first three months of
1881 represent reduction of about SIS
q ton, compared with 1880 quotations.
Building contracts awarded in the AZ
states east of the Rocky Mountains
during the last week of November fell
TO the lowest daily average since
March, 1929. Total value Of Contracts
awarded during the month of Noven-
Der was $253, 1878, 700, a shrinkage of
35.4 per cent compared with a year
ago. For the 11-month period the de-
cline was 2l.4 per cent.
Oil Industry.
StatiStically, the oil industry con-
tinues to show improvement Re
finery operations are currently at the
lowest point on record and crude OUT
put is the lowest in several years. How
ever, with the close of the heavy con-
sumption season extreme competition
and necessary dumping on the part of
number OF small producers have
forced prices of both crude and re-
fined products to the lowest levels in
many years. At current quotations
earnings of practically all companies
have been reduced to a minimum and
indications are that fourth quarter re-
suits will carry full-year profits to some
40 or so per cent below the 1929
results.
The Companies.
American Capital Corporation omits
class A dividend; paid SO
cents June 2.
American Car g. Foundry completing
designs for tank cars of over double
present capacity.
Associated Apparel Industries share
earnings year ended November 80 esti-
mated $5.25.
Cerro de Pasco Copper Peruvian
mines to be reopened.
Chicago, Burlington & Quincy Rail-
road share earnings, 10 months to Oc-
tober 81, SHOT, against $1466.
Commercial Investment Trust-Fi-
nancing agreement proposed between
Commercial Factors, subsidiary and
Bachman, Emerich & Co.
Becker (Alfred) g. Cohn preliminary
October 81 balance sheet figures indi-
Gates current assets five times current
against three times year ago.
Drug, Inc, 1880 earnings estimated
at Sc share, against $685. in 1929.
Erie Railroad I. c. G. allowance of !
I'LL CdoCo 0CpICCldIlOll ICo6INc pSIullIS |
further equipment rehabilitation.
Exchange Buffet November sales of |
17.6 per cent; IL months, off 79 per
cent.
Fajarda Sugar Co. net income be- |
fore taxes year ended July 81. $222,817, |
against deficit $720,881 in 1929.
National Department Stores omitS |
quarterly dividend; paid 25 cents Octo-
Der /.
National Tea November sales of 1913 |
per cent; IL months, off So per cent. |
Pan-American Petroleum g. Trans. |
stockholders sue for resump- |
tinHn Of di1tidnradr ix,il