Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-26
Corporation News

NEW YORK, August 26.-The fol-
lowing is a summary of important cor
poration news prepared by tho Stand
ard Statistics Co., Inc, fer the Associ-
ated Press:
News Trend.
The days corporate news is largely
unfavorable. Railroad earnings state
ments, which are again prominent, con-
tinue the unsatisfactory trend OF earlier
periods. Aggregate net operating In
come of the first 20 roads to report Is
3l.3 per cent below that of year ago.
This drop compares with a decrease in
June of 34.9 per cent for all carriers
and 1913 per cent in May. Currently
due preferred dividends of Root Rein
ing and Automatic Musical Instrument
have been deferred. Archer-Daniels-
Midland and Fisk Rubber have each an
nounced the closing Of one of their
| plants.
The Companies.
Archer Daniels Midland closing Edge
water plant for indefinite period; 173
/ employees affected.
Automatic Musical Instrument de-
| ferred payment of participating pref
erence dividend due to have been paid
July IS.
Sill common share, against $2.72 year
ago.
Chicago Great Western Railroad net
operating income off As per cent; seven
months, up 18 per cent over year ago.
Colonial Beacon Oil had deficit ST.
316,164 in first half, against profit, be-
fore taxes, $530,509 year ago.
| Detroit Aircraft July sales $171, ITO,
or more than one-fourth total sales In
first six months 1929.
Diamond Match expected to announce
plan of recapitalization within next two
or three weeks; may establish European
plants next year.
Erie Railroad July surplus, after
charges, off TAB per cent; seven months,
| 79.1 per cent below year ago.
Fisk Rubber closes New Bedford fabric
mill for indefinite period; about 400
workers affected.
/ Fox Film unreported equity in Loews
earnings for first half 1880 about ST.
100000, equivalent to Sill additional
TO share earnings previously reported
of 1924.
International Great Northern Rail-
road July net operating income $780,
744; months, $92,o53, against $l,l52,-
aga.
Lake Superior Corporation formed
subsidiary, Northern Ontario Lands, to
manned after sales of Algoma Eastern
to Canadian Pacific Railway.
Minneapolis & st. Louis Railroad
July net operating income $46,84l
against income $752,251 year ago; sever
months net operating deficit $50,l7s
against income S97O,428.
Missouri Pacific Railroad July sur,
plus after charges of 623 per cent
81 ,303, 1903 back mail pay included IL
1929 which If excluded July net in
creased 6 per cent; seven months wa
100 per cent below year ago.
New Orleans, Texas e. Mexico Rail
road July net operating income off o.
per cent; seven months 70.3 per cent
Northern Pacific Railroad July ne
operating income of 81 per cent; sever
months 81 per cent below year ago
Pacific Gas g. Electric expended $22,
$4,000 for new construction in frs
Z half of year.
Pere Marquette Railroad July surplu
after charges of 81 per cent; sevel
months II per cent below year ago.
Pillsbury Flour Mills earned $40
common share in year to June
against $5.12 previous year.
Root Refining onlits quarterly divi
3 dends on prior preferred, and SO pre-
Tered stocks due at this time.
: ST. Louis Southwestern Railway Jul
deficit, after charges, SCI ,28l, VS.. sur
plus, $50,527. a year ago; seven months
!. ! deficit. $26.549, VS.. surplus, $340,153
q Sinclair Consolidated plans expansio
of its business In Europe.
Eouthern Pacific Co. July net opera