Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-08
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

NEW YORK, June S.-The following
is summary of important corporation
news prepared by the Standard Stats
tics Co., Inc, New York, for the Asso-
ciated Press.
Weekly News Review.
For the first time in many weeks the
level of prices on the stock exchange
closed last Friday higher than the
Friday before, due to relatively large
gains made during Wednesday and
Thursday sessions. The upward turn
received much of its initial momentum
from an action taken by most of the
important New York banks in reduc-
ing their margin requirements for regu-
lar Wall Street loans to 20 per cent
from Is per cent, apparently acting in
the belief that present low stock price
levels justified the lower margin. New
ertheless the rally was essentially of a
technical nature, an entirely logical
development in view of the extent of
the preceding decline. No convincing
evidence of general improvement in the
business or industrial situation appeared
during the week to furnish any better
reason for such a reversal of direction
in the stock market
On Friday, June 5. the standard
price index for 80 stocks showed a gain
of points to 1864 from 1884 on Fri
day, May 30. On Wednesday, when the
two-day rally commenced, the index
rose for the day 73 points, followed by
"a point rise Thursday. and then by
a loss of ID points on Friday. Satur-
day. after the foregoing indexes had
been compiled, further losses of consid-
cradle size were reported. The weak S
gain was shared in by all three divisions
making up this go stock index, rails
gaining the most after previously hav-
ing been particularly weak, "A points
in all to 1873 on June 5. Utilities gained
8 points to 1884 and .ndustrials rose
2.8 points to 1915.
Some of the stock market improve
ment was reflected on the bond market,
but not enough to cause net gain for
the week. Higher closings on Wednes-
day, Thursday and Friday brought the
standard index for 80 bonds TO 935 at
the close of Friday. June 5. Still OIL
point under the level of 936 on May %
Another indication of the large volume
of funds for investment under suitable
circumstances was furnished by the
oversubscription of the Treasury Offer
ing of $500 900, 900 ass, 1946-49 at par.
On the market itself United States
lSSuCS dllu nigh SIduS HUI
nicipals, utilities and others maintained
their strength of preceding weeks. while
low grade bonds fell further.
On the commodity exchanges cotton
recovered from extreme low prices in
the middle of the week, only to fall
back at the end of the week. a move
ment closely following the changes in
direction on the stock market. Wheat
fell during the week to new lows, LneI
recovered slightly in sympathy with the
stock market. Drought reports firm
Canada lend this commodity come
strength, counteracted in large part by
the unexpected withdrawal of the Gov
eminent from the market as buyer
of 1930-crop wheat.
Steel reports during the week con-
firmed preliminary estimates that the
rate of ingot output for the week ended
June declined per cent to AZ per cent
of capacity from A per cent the week
before, continuing the gradual decline
that began the middle of March. The
only specific encouragement during the
week for this industry came from -
creasing structural steel orders for oil
pipe lines.
Freight-car loadings for the week
ended May % increased 1889 cars over
the week before to total of 755,071. AS
mas peen CLe case III leCenI Weehs Clie
increase, though favorable in i.self, still
fell short of the normal increase for this
week of the year The total was ia, 535
cars short of the same week of 1880.
Another increase in daily average out
put of crude oil for the week ended May
80 amounting to 24,967 barrels. accord
ing to the Oil and Gas Journal. unfa-
vorable in itself in view of heavy stocks
and efforts to curtail output. was fol-
lowed by sweeping price cutting to ex-