Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-04
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, August 4.-Tne 1olloW-
ing is today's summary of important
corporation news prepared by Standard
Statistics Co., Inc, New York, for the
Associated Press:
Weekly News Review.
With the activity at its lowest ebb in
several years, stock quotations on the
New York Stock Exchange fell of mod
erately during the past week. Average
prices, as measured by our composite
90-stock index, declined by 3.8 points
to 1886. The utility group recorded the
sharpest loss, declining 76 points. In
lost 2.3 points. Despite this weakness
in stock quotations, prices of high
grade bonds continued to move for
ward. On Tuesday last our index of 80
listed bonds duplicated the previous
1880 high record of 1908, attained on
March 20. The current situation, in re-
spect to credit conditions and com
modify prices, appears to be more def
initely favorable to the buyers of long
term fixed-interest obligations than at
any time in the past decade. With alb
normal ease in money likely to continue
for some time to come and with COM
modify prices the lowest since 1915,
the purchasing power of the bondhold-
er's interest dollar is obviously greater
than at any time since the war.
The latest report on brokers loans. for
week of July 80, indicated borrowings
expanded by 100000, to total of
1928, 100000. This is the smallest net
change made in any week this year and
Is indicative of the slight interest in
trading currently displayed by the
general run of margin customers.
Money rates were unaffected by the
month-end demand and continued to
range at the levels of the week pre-
vious.
Commodity prices showed further
weakness. The annalist index lost IL
points for the week and currently stands
nearly 20 per cent below 1929. Sep
TENDER wheat closed Saturday at 85
cents, a new seasons low. Rubber and
sugar were also at the years lows. Corn
quotations, however, rose to new high
levels, September delivery selling 2 cents
. higher than wheat. Since the end OF
June the price of corn had advanced
1434 cents a bushel. This independent
strength Is due to the material reduc-
ton in the visible supply of the COM
modify and the adverse weather IN
fiuences which have reduced prospective
yield to 100000 bushels, compared
with the Government July / estimate of
1902, $4,000
The weekly reports from industry
gave no evidence that activities had
been accelerated from recent low levels.
Operations in the steel industry con-
tinued at STU per cent of the theor-
ings for the week of July 10 were be-
low those Of any like week since 1922
Total of 928,25 cars was IL per cent
larger than in previous week (this in
crease, however, was less than half OF
the usual seasonal expanSion), but II
per cent below a year ago. For the
| first 20 weeks of this year total load
ings are below any like period since
| 1925. Building contracts awarded in the
in the seven days through July 25 ag-
gregated $81 ,767, 100, or more than 4C
| per cent below year ago.
Building Contracts.
Building contracts awarded in the 81
States east of the Rocky Mountains In
the seven days through July rs aggre-
gated $81, 767, 100, or more than 40 per
cent below year ago. Contracts let
since January ! were II per cent below
the 1929 total. Automobile production
dropped to the lowest level of the year
due to several additional suspensions OF
operations However, a return to &C.
| tvity to levels nearer normal Is expected
this week with resumption of operations
by Ford and several other large manu-
facturers. Reports from the oil indus
try were again distinctly favorable
Current daily average crude output IL
the lowest in several years, while gaso-
line production continues restricted
Stocks of gasoline were reduced by ], :
1916, 900 barrels in the week of July 2t
to the lowest figure since January II
this year.
Publication of additional first hall
earnings statements contributed largely
to the weeks financial news. Aggregate
earnings Of the 289 companies which
have reported show a decrease of "a pei
cent from the comparable 1929 total, a.
compared with the 20 per cent decline
reported a week ago covering 134 com
panies. In the face of this less favor.
able showing, however, a substantial
number Of concerns are still reporting
gains over a year ago. The total Of such
individual increases now amount to 104
! The Isl industrial concerns included II
this compilation sustained an aggregate
decline Cf 20 per cent. Excluding tn,
! two largest units in the group, Genera
Motors and United States Steel, the de
: crease was cut to % per cent.
Household products, leather an
) shoes, miscellaneous drugs and pape
are the only four groups which revea
| any unity in income gains over 1926