Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-17
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

LEADING ORGANIZATIONS
NEW YORK. June 1.-THE follow
ing is summary of important corpo-
ration news prepared by the Standard
Statistics Co., Inc, New York, for the
Associated Press:
News Trend.
Current reports from the steel indus
try lack indications Of favorable turn
in production. Ingot output has again
receded, this time to SO per cent OF
capacity, as compared with the esti-
mated rate Of 40 per cent a week ago
according to Iron Age. Contributing to
the decline. leading steel centers, such
as Pittsburgh, Chicago, Cleveland and
the Wheeling districts, all report low
er rates of production. The belief has
been expressed that the direction of the
rate will be unchanged with q POSSIBLE
ity that the low operating rates Of LIST
December may be duplicated between
now and the end Of July.
Although revenue freight car loadings
increased 1896 to 760, 800 in the week
ended June 6, a seasonal recovery from
the preceding holiday period was ir
line with past performances. The total
however, represented a reduction Of
174 ,692 from the similar period Of 1896
and was 294,878 cars below 1929. A
considerable drop was shown in cars
loaded with coal and smaller declines
were reported for coke, grain and grain
products.
Contrasted with an earlier estimated
decline of 30,170 barrels in daily aver.
age crude oil production, the American
Petroleum Institute puts the reduction
at II, $50 barrels for the week ended June
Is, which makes a less favorable COM
parison with the drop of 1880 in
the preceding period. Gasoline stocks
at refineries representing 94.7 per cent
of the total capacity moved favorably
with a decrease of $4,000 barrels,
whereas the production of cracked gaso-
line during the period increased from
3,073,000 barrels to 3,125,000 with re-
fineries operating at Cts per cent Of
capacity.
The Companies.
American Home Products-Approval
given for purchase of Wyeth (John) &
Bro, Inc.
: American Smelling g. Refining 50
cents quarterly common dividend; for
merly paid 81.
Brooklyn Manhattan Transitional
VA Vi oAASRSA tdJAOh dSooQIllCo C1IdI &c Va
unification negotiations. ,
Bulova Watch untitled orders above
year ago; billings slightly lower.
Canada Dry Ginger Ale year COM
mon dividend of So nearly earned in
first eight fiscal months; last four fiscal
months general provides about 40 per
cent of annual profit.
City Ice & Fuel-H. D. NorveH, presi-
dent, died June 16.
Consolidated Mining IL Smelling OF
Canada to purchase treasury stock OF
Pacific Coast Terminals.
Fashion Park Associates May net sales
off TIA per cent; five months on 1876
per cent.
Ford Motor current factory force at
Detroit above 10000, several hundred
above week ago, but 5000 less than
peak in April.
General Foods first five months earn
ings at level of year ago; has effected
savings Of about 100000 annually
through reorganization of sales forces.
Hamilton Shoe seeks dismissal
OF receivership, purpose Of which has
been accomplished.
marlborough Rapid Transitional
OF transportation assumes charge OF
unification negotiations.
International Telephone g. Telegraph
Officials decline to comment on report
that company was to acquire 100000
class B shares of Ericsson q. M Tele-
phone; telephone conversation recorder
to be placed on market shortly.
Link Belt Co. declares so cents quar-
terly common dividend; paid so cent:
formerly.
National Railways of Mexico-Re.
ported planning passenger and freight
rate cuts to meet bus competition.
Nevada Consolidated Copper c
c. places recapturable earnings of Ne:
vada Northern Railway subsidiary, al
81 .992,553 for 1922 to 1927
Pacific Finance Corporation, % cent.
quarterly common dividend; formerly
paid SO. cents.
Pacific Gas a. Electric-Seeks NOR,
time to complete exchange of preferred
stock for preferred shares Of Greai
Western Power and Feather Rive
Power; also asks for extension of tim,
in which to sell 81 200, 900 first mort
gage bonds of Sierra g. San Francisco
Power and 10O,95l shares. own common
stock
Philadelphia Rapid Transit director
take no action on common DIVIDEND
resumption.
Radio-Keith- Orpheum--Arrangement.
reported practically closed for $4,000,
600 new funds to be used for expansion
and improvements.
Smith H..C0 g. Corona Typewriter
Directors take no action on preferret
dividend; paid SITS April.
American & Foreign Power--Hydro
| INA to hold 40 per cent of interest u
new Rumanian subsidiary. 2
Ulster & Delaware Railroad bond
holders comforting on new purchas
price; be required to accept less thai
par as result Of price fixed for prop
! erty by Interstate Commerce Commits
| sion.