Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-13
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

NEW YORK, April 13.-The follow
ing is a summary of important corpo-
ration news prepared by the Standard
Statistics Co., Inc, New York, for the
Associated Press:
Weekly News Review.
In spite of uncertain fluctuations of
prices on the Stock Exchange and an
atmosphere of general pess:misin, last
week closed with no marked changes in
price levels. The Standard price index
for 80 stocks rose OIL point to 1907
on April 10; from 1905 on April 2,
which is, practically speaking, no
change at all. The weakness that has
been evident in railroad securities in the
past month or two was again shown by
a decline in this division of 2.3 points
to 89.4 on April 10, whereas industrials
rose GA point to 1862 and utilities rose
IL points to 1898.
The most significant point in such
market action is the absence of positive
trend in either direction. Following as
it does decline of several weeks du-
ration, 1t represents halt in the down.
ward movement, but there are positive
indications that this Is to be followed
by a recovery. 1t should be remembered
4
in the middle of March, only to resume
| later.
A decline of 0.8 point in the stand
ard price for 80 bonds is of a piece
| with the stock market decline. In this
| case there Is the added factor, how
ever, that several large issues have been
| marketed recently and that any real
show of market strength evokes addi-
| tional offerings.
The commodity markets, like the Sc
| curity markets, showed little actual
price movement, although they were
! likewise under the influence Of gen.
eral uncertainty as to the immediate
| future. Wheat prices moved in a
small range and cotton prices fell
! somewhat.
/ In the steel industry mixed tenden-
( cies have confused attempts to esti-
mate future trend. Pessimism over tbs
| immediate prospect found some justi-
| fcation in reports that operations Tor
the week ended last Monday had been
at around SO per cent of capacity, z
per cent below the week before and
per cent under two weeks previously
On the other hand, the report Of UNI
filled orders of the United States Stee
Corporation, considered significant
showed an increase over February "a
of 30,l36 tons, even with large orders
known to have been received at the
end of March not included. Larger
March bookings, the belief that recent
orders have been for immediate de-
livery in large part, increasing auto
mobile activity and expectation OF more
orders from building industries, all give
ground for the hope expressed in GER
tain quarters that steel activity tol
this Spring has yet to see its peak.
Oil reports during the week consist
emily carried unfavorable implications
AS a result of temporary injunction
granted against the enforcement o
proration orders in East Texas, whicl
! removes restriction from output ther
until a final decision is reached, pro
duction in that region has increased
and prices, therefore, have fallen. LoN
prices for this oil, which is Of higl
! grade, affect the price structure over
broad area. Reports indicate that ad
, ditional cuts in the price of mid-conti
! nent crude are not unlikely and tina
: the success of proration agreements 4
! other producing areas Is seriously en-
( dangered.
Retail Sales.
Z Retail sales for March, reported !
I quantity during the week, we're ger
I orally below March, 1880. but never
q theless made q not unfayorably com
Y parison. The aggregate for 80 system
q showed a decline of 46 per cent whtc