Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-13
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.
NEW YORK, July 13.-The following

WCCkty NEWS hCVicWs
Security markets for the week re-
flected the uncertainties In the German
situation, which seemed to be more Seri-
GUS than were originally believed.
Profit-taking, as q result Of the publ
cation of the debt moratorium accept
ance by France, started the decline IN
security values, which was accelerated
by the realization that Germany'S neeo
of further credit was urgent. Inc
actual movement Of the market for the
week ended July IL as indicated by
Standard Statistics price index for 80
stocks showed a rather sharp decline.
From 1912 on July the index declined
points to 1862 on July 10, industrlais.
railroads and utilities all contributing
TO the decrease.
The forecasts OF Department of Agri-
culture on Winter and Spring wheat
were quite a surprise to the trade. as
the Winter crop was above expecta-
lions. while the Spring crop was con.
siderably smaller. The estimate as OF
July on Winter wheat was 7l3,OOO,OOO
bushels compared with the revised total
of 612. 900. 900 bushels for 1880 and the
average of the five years from 1925 to
1929 OF 547,000,000 bushels. Spring
wheat is forecast at 124 100000 bushels,
while the 1880 figure Is 10000 600
and the fve-year average POT 100000.
With reduced foreign and domestic
buying and the reported failure OF pro-
ducers to effect a further curtailment
in output, quotations on copper dropped
TO cents a pound. The unfavorable
forecasts en- the finished copper stocks
as of June 80 were confirmed by the
monthly figures of the American Bureau
of Metal Statistics, which showed an in
crease of l4807 tons from May 81 to
rev high of 4l3474 tons
The Jure motor vehicle production
for this country and Canada was some
what lower than preliminary forecasts
and represented a greater than seasonal
decline from the May aggregate. The
output for last month was about % per
cent below the preceding month and
some 81 per cent smaller than the June.
1880. figure. The major part Of the de-
crease is believed to have been caused
by Ford's curtailment so that the re-
mainder OF the industry actually made
fairly good comparative showing.
DiScouraging news regarding the steel
industry seems to be abundant Al
though untitled orders of the United
States Steel Corporation OF June 80 were
expected to show decrease from those
of May 81. the reduction was somewhat
greater than was anticipated. Steel
operations continued to decline. some Of
the smaller producers shutting down
for a longer period than the customary
! independence day holiday.
Commodity Prices.
Commodity prices receded last week.
although, with the exception Of one or
two cases, they are we'll above the years
lows. OF the 40 major items. 81 de-
ciined, advanced and IL were un-
changed. weakness being most APP
parent in the farm products and nom
ferrous metal groups.
Crude oil production failed to con-
tinue the curtailment reported for the
preceding week. The further lowering
of petroleum prices by Humble Oil g.
Refining and other leading companies
reveals the Generalization which has
been caused by the food of East Texas
oil. 1t will be interesting to watch the
developments toward stricter prora ton.
| which judged by the present actions Of
the leaders of the oil industry, seems to
be virtual certainty.
Electricity output and freight car
loadings were both favorable for the
week Although electric power produc-
ton declined about % per cent from
| the corresponding 1880 period. and al
| lowance must be made for the fact that
/ this was a holiday week it is true that
! the rate of decline has been decreasing
over a period of weeks. Revenue freight
car loadings rose sharply. grain, coal,
miscellaneous freight and forecast prod
| uctS showing a stable increase.
The Compa nies.
| Consolidated Gas, Electric Light e.
| Power Of Baltimore-June industrial
power sales tkilowatt hours. exclusive
| of power supplied TO Bethlehem Steel
and Baltimore Copper Smelling d
| Rolling, off SIS per cent; months. of
| 88 per cent; June industrial and COM
mercial gas sales Ccubic feetD up 2.71
| per cent: months, up OF per cent.
| Hollander tAD & Son earned over
| So per share in first half; in entire year
| 1890 earned Sl.35 share,
Lehigh Valley Coal-Net income. six
months ended June 80. $730.l36, equal
! to 80 cents a common share, against
deficit, S28S.4l4 in 1880 period.
| St. Joseph Lead deficit. five months
! to May 81, $850.819. against net income
before Federal taxes, sl,307,64l, equal
to 81 cents common share in 1880.
South Penn Oil cuts Pennsylvania
/ crude prices 5 to Is cents a barrel.
Tri-Utilities Corporation passed quar-
| tsrly dividends on cumulative preferred
! and Sc preferred stocks; paid rs cents
! and $3.50, respectively May /.
Perfect Circle first half net indicated
over So per share; reported outlook good
| for final six months.
Pure Oil reduces Michigan crude
prices Is cents barrel to 81 cents.
Revere Copper &, Brass lowers prices
/ to basis of 8 cents electrolytic copper.
Selected Industries liquidating value
June 80, 1881, s1l.36 a convertible
! share.
Standard Oil New Jersey reduces
| bunker and Diesel fuel oil prices 5 cents
barrel at North Atlantic and gulf
ports.
Tri-Continental Corporation Liqui-
! dating value June 80, 1881. $3.50 COM
mon share. against $1,000 December
81. 1890.
Marmon Motor Car advances prices
$425 on all models of l6-cylinder line.
National Railways Of Mexico presi-
dent states freight rate increase Is i'm
! possible at this time.
Borg-Vf. rner first half sales of Borg
t Beck, subsidiary, 40 per cent above
final six hSnthS of 1890.
First National Stores dollar sales for
five weeks ended June 81 off 81 per
cent. six months off "a per cent, six
months tonnage sales up 1872 per cent.
Mead Corporation rs cents quarterly
cash dividend; paid 25 cents cash and
| per cent stock dividends April Is
American e. Foreign Power-Common
share earnings. IL months to March 81,
| 3 cents vs. 5000: 1880 common share
| earnings, 81 04 VS.. S4.0l.
| American States public service profits
before depreciation. IL months to May
81. up 239 per cent.
Buckeye Pipe Line-June pipe line
deliveries up 81 per cent; six months
up 239 per cent.
Consolidated Retail Stores June sales
off 10 per cent; six months of SO pei
cent.
Copeland ProductS-Sales of COM
| mercial refrigeration units i'll first eight
months up SO per cent.
Cream Of Wheat Corporation-June
I nIlart:r common share earnings. Sc