Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-03
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

NEW YORK, November 3.-The fol-
lowing is a summary of important corpo-
ration news, prepared by the Standard
Statistics Co., Inc, New York, for the
| Associated Press:
Weekly News Review.
Following a period of upward tend
encies, stock quotations again turned
reactionary during the past week. On
| the New York Stock Exchange prices of
| industrial issues, as measured by the
Standard Statistics index, touched new
| low levels on Friday. The composite
price average of 80 of the most repre-
| sentative stocks lost "A points, or 81
| per cent, during the six trading ses-
sions. Based on Saturdays closing
prices, this index stood at 1857 and
compared with the years low point of
/ l342 established october % and a high
of 2O5.8 recorded on April 10. Bonds,
after a period of reaction, recently have
! been displaying moderate strength.
| High-grade obligations, led by United
| States Government issues, moved Tor
ward steadily last week. Our composite
| index advanced in all but one session
and gained 0.37 points. Underlying
! economic factors are fully as favorable
| to higher bond values as at any time in
| recent months. Interest rates continue
| at extremely low levels, and are unlike
| ly to register marked firmness Tor
| considerable time to come. An advance
| IN commodity prices of SufhclenC pro-
portions to exert a marked influence on
| the purchasing power OF the interest
dollar is not in prospect.
Except for rubber and silver, COM
modify prices closed Saturday below the
levels of the preceding week. Grams
! folk
about 50 a bale, sugar lost several points
and silk and hides were lower. CoIIee
Was again disturbed by the Brazilian
| situation and declined more than ~
points. weakness in crude oil prices
extended further. Several companies
announced additional cuts IN MD
continent while in Texas and LOUISIANA
Gulf Refining reduced posted prices on
average about 20 cents under quotations
of the Standard Oil of New York sub
sidiary.
| Brokers' Loans Reduced.
Rrokers' loans. as reported by the
Federal Reserve Board, were reouceo Wy
| $40 900, 900 in the week ended OCTOBER
| 30 This is the fifth successive week
| that borrowings have declined. Inc
! latest reported total of $2,5l2,OOO,OOO
| is the lowest since June 9, 1925, and
onlv SOB 900 900 above the smallest
amount recorded since puDncatlon OF
| the figures was initiated in January,
| 1926. In the money market, montn eno
| reulirements failed to exercise any IN
| f1uence on rates. Call money rate con-
tinued at 2 per cent officially, but was
available outside the exchange at per
| cent The average call money renewal
] charge for October was per cent, the
| lowest Of any month in many years. IN
| october last year the average renewal
rate was 8 per cent.
News of the week from industry was
mostly of an adverse nature. Oper-
ationS in the steel industry receded 1ur-
| Their to so per cent of theoretical ca
pacity. compared with So per cent In
J the preceding week and SIS per cent two
weeks ago. Freight car loadings during
the third week of october recorded the
| largest decrease of any week THIS year
compared with 1929 and were the low
est for the period since 1913. Total
| loadings for the year TO date are below
any like period since 1922. Electricity
production of the country for the week
ended october 25 was Al per cent less
than in 1929 period, but 28 per cent
| above the 1928 week. In the preceding
week decline from 1929 was 3.5 per cent
Building contracts awarded In the
States east of the Rockies during the
week of october "a fell sharply under
1
| ceding. Total was $50 724 400, decline
of 28.7 per cent from the preceding
week and 1928 per cent less than IN the
same week year ago. Residential build
| ing was the most important item, COM
prising SO per cent of all the awards
| This division of the industry is COM
monty regarded as an index of oper-
ations for the entire industry, since
more than half of the total floor space
contracted in recent years has fallen
into this group. In view of the fact
! that this division first pointed the way
downward for construction in general,
and is currently retarding its rate OF
decline, there is q strong possibility OF
its being the first to stage recovery.
Corporation earnings statements
again provided an important part of
| the weeks financial news. Analysis OF
the results of 191 companies which
have reported, presents an interesting
| study. Income of these concerns for
| the first nine months of this year ag-
| gregated about $3.50, 000,0 900, or 10 per
cent of the total reported by them for
] the same 1929 period. Excluding U. s.
Steel and American Telephone & Tele-
graph from the total, the remaining
| 1879 companies showed returns amount
ing to II per cent of those year ago.
Railroads, as a group, have shown the
most drastic deflation, q roads report
| ing a total 63 per cent of that for the
! 1929 period The 1873 industrials in
cluded experienced income equal to 70
per cent of the 1929 amount, and 10
| utilities excluding slight gain of Ameri-