Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-11
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

ALAOAN0 4
NEW YORK, January 10 lP).-The
following is today's summary of inn
portant corporation news, prepared by
Standard Statistics Co., Inc, New York,
for the Associated Press:
News Trend.
The Great Northern Northern Pacific
unifcation negotiations, which have
been pending for about five years, have
been abandoned. Dividend reductions
have been made by Elgin National
Watch and Railway g. Light Securities.
Skelly Oil directors have passed divi-
dend due March Is. Equity receivers
were appointed for General Laundry
Machine.
Commercial failures in past weel.
were at a new high record, numberin
o27. compared with 1872 IN like 1850
week. For the year 1880 business fall
ures, exclusive of banks, numbered
1885, against %, 109 in 1929. Liabilities
were $3.50, 233 .642, compared with S483,-
25O,196 for 1929. Bank clearings for
the week at leading cities we're "a per
cent below those Of same 1880 week.
In 1880 clearings dropped "a per cent
under those of 1929 and were smaller
than in 1928 and 1927.
hemicals.-Domestic chemical in
dustry, broadly considered, has Jared
much better during the present business
depression than most trades. Average
profits in this field for the full 1880
year were probably not much more
than 20 per cent under record returns
for 1929, as compared with an indicated
recession Of 80 per cent in aggregate
corporate earnings. This relatively
favorable showing has been due pri-
nlarily TO the basic supply character Of
the chemical trade with its unusually
diversified market Present evidence
indicates that industry, during the next
six months, should continue to report
better results than most lines, and
because of exceptionally recuperative
powers should also be one Of the first
TO participate in q normal upswing in
general Industrial activity. Because of
the yariated nature of the trade, how
ever, a mixed trend will doubtless be
registered.
Cotton-world cotton crop for sea
son beginning August /, 1880, estimated
at 26,400O00 bales (478 pounds nett
vs. 26,300. 900 bales produced in pre-
vious season, according TO Department
Of Agriculture
Machinery-Exports of industrial ma
chinery, excepting locomotives, engines.
etc, for IL months ended November 80
totaled $206, 943, 900 vs.. 1921 $4,000 in
1929 period, but larger than for any
similar period since 1921.
The Companies.
Borden Co reported negotiating for
Modern Dairy of Winnipeg.
Burns Bros.-N. Swayne elected presi-
dent In place of Wertheim; Grant and
Close Of Lehigh Valley Coal on board.
Byers "a. M share earnings, year
ended SeptembeS 80, S2.74 VS.. 1881.
Gtataon6 Dsfr1tv1or4r q OfffV1 N
Northern Northern Pacific unification
plan abandoned.
Commercial Solvents reduces prices
of buytl alcohol and acetone l cent a
pound.
Commonwealth 81 Southern estimated
December electrical output declined 3.8
per cent; IL months of SIS per cent
December gas output on 35 per cent;
II months of 90 per cent.
Detroit Edison $34,984000 general
and refunding mortgage AIS sold TO
bankers.
De Forest Radio asks United States
Supreme Court to review Langmur pat
ent case; to sue Upgrade Lamp for al
legged unfair competition
Elgin National Watch declares 37l2
cents quarterly dividend; paid so cents
November l and 62lz cents previously.
Equitable Office Building share earn
ings, eight months TO December 81,
$l.80 VS.. S1.6l.
Firestone Tire g. Rubber reported
ready to announce price reduction Of
between per cent and II per cent.
Ford Motor general operations re-
sumed at main plant: about 10000 en-
ployes expected TO be re-engaged.
General Baking Corporation capital
readjustment proposed, involves dtSso-
luton this concern, stock TO be ex-
changed for shares General Baking
common share corporation pre-
ferred for y shares company common
and 100 shares corporation common for
shares company common: back diyi-
bends on preferred to be paid of in
debentures, 50 annual dividend planned
for new common.
General Laundry Machine equity re-
ceiyers appointed by Federal court
Utica.
Indian Refining-About rs per cent
of common deposited under Texas Cor
poration exchange offer.
International Hydro Electric System
electric output, IL months TO November
80, up 9 per cent.
Interstate Hosiery Mills December
dollar shipments up % per cent, volume
shipments up over so per cent.
Long Island Railroad-Transit com
mission to ask Federal court TO enJon
abandonment Of Whitestone line.
MISSOURI tLdAlIOdA llOAAA4So u
Texas g. Pacific common increased u
about 225. 900 shares or roundly s.
per cent of outstanding shares.
Nashua Manufacturing cuts rates a.
much as 20 per cent; increases opera
tons.
Pacific Telephone g. Telegraph shar
earnings, IL months TO November sc
$40 on average number of shares out
standing during period, against sos
in 1929 period.
Pennsylvania Railroad-Gov. Ely Q
Massachusetts, recommends that Leg
tsIative Committee investigate interes
in Boston g. Maine and New Xorl
New Haven & Hartford.
Railway & Light Securities declare
81 extra and so cents quarterly diyi
bends; paid SO extra February !.
Sicily OIL passes common dividend
paid so cents December Is.
Sterling Motor Truck deficit yea
ended october 81, S3s5,5so against ~