Evening star., 1932-06-23
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, June 23.-The following
is a summary Of important corporation
news prepared by the Standard Stats
tics Co., Inc, New York, for the Asso-
ciated Press:
News Trend.
Imposition of a tax on commodity
future trading, which became effective
on Tuesday, has found reflection in
further diminution Of speculative inter-
est In the wheat market. The levy of
5 cents bushel on each Sl00 valuation
of futures, or at current quotations,
$3.50 on each 100O0-bushel transac-
ton, may tend to limit the operations
of the professionals and outside inter-
ests. With the new crLl soon coming
on the market, it is believed that specu
lative support will not be sufficient to
lift the hedges. Recent bullish rains
in the Southwest have been offset BY
continued favorable crop reports from
the Northwestern States and Canada.
Aggregate active spindle hours in
United States cotton mills were 4,577
millions in May, compared with ar
average for the preceding four months
of 6,233 millions and with 6,483 millions
average in 1881. The curtailment in
activity from April was l1.9 per cent,
while from May. 1881, it was $40 per
cent. Thus, mill operations confirm
the previous beariSh indications of the
May cotton consumption figures, which
were reduced 28.6 per cent from May
of last year. Only extreme damage to
the growing crop. which now gives a
harvest indication around ll,500C00
bales, would apparently suffice to nullify
the influence on prices of heavy sup
plies and low consumption.
The Companies.
American Shipbuilding Co declared
quarterly common dividend of so cents;
paid rs cents on May .. prior to which
SIPS was paid quarterly.
Briggs Manufacturing passed quar-
terly dividend; paid IS cents on April
25, 1882
Ferro Enamel Corporation passed
quarterly dividend on class A partici-
pating stock: paid SO cents on March 81.
Insuranshares Corporation of Della
ware liquidating value June 10. 1882.
s5.62 a common share vs.. So 40 Decem-
Der 81. 1881
Lehigh Coal g. Navigation declared
quarterly dividend of 20 cents; previ-
ously paid Is cents quarterly.
American Power & Light Co.-Gross
earnings of subsidiaries in II months
ended April 80 declined per cent; net
income was off 1877 per cent
Auburn Auto sales in six months
ended May 81 totaled 6.516 units vs..
25,021 units in the like period preced-
ing year.
General Tire & Rubber Business
volume in current month largest in
company's history.
Gulf Oil Corporation subsidiary in
creases price of United States motor
gasoline Il cent gallon.
Madison Square Garden Corporation
profit from Schmeling- -Sharkey bout es-
timated at Sl20,000; gross receipts were
S474O00
Swedish Match Co. 1881 operations,
without regard to subsequent disclosures,
reported to have shown net loss of 25,-
100000 kroner. compared with net
profit of 100000 kroner in 1880.
Western Pacific Railroad Corporation
May net operating deficit of Western
Pacific Railroad Co. was S9,641 VS.. net
operating deficit of s131,7 ,704 year pre-
vious: five months, net operating deficit
S433,810 VS.. net operating deficit OF
S557,3
De Forest Radio Co.-Two equity re-
ceivers have been appointed for COM
pany by Federal Court, Newark, on ap-
plication of creditor.
Garlock Packing Co. declared quar-
terly common dividend of 10 cents;
previously paid Is cents quarterly.
johnson Motor Co-Two receivers
were appointed for company by Federal
Court. Chicago. in friendly action.
Laclede Steel Co. declared quarterly
dividend of Is cents; on March 81 paid
Is cents.
Mcclellan Stores Co. took no action
on quarterly dividend on preferred
stock ordinarily declared at this time;
last payment was S1.50, on April l, 1882.
Electric Power & Light Corporation
directors took no action on second pre-
ferred and common dividends; paid
SITS and Is cents, respectively, on
May 2.
General Tire & Rubber-Passed quar-
terly dividend on preferred stock; last
payment, S1.50 on March 81.
Handley Page. Ltd.-Declared, final
dividend of per cent on 10 per cent
non-cumulative preferred stock and on
American depositary receipts for that
issue.
Liggett g. Myers Tobacco Co. earn
ings thus far in 1882 reported ahead of
like 1881 period; Chesterfield sales de-
cline is smaller than IA per cent drop
figures smoking tobacco sales are show
ing gains.
St. Louis-San Francisco Railway May
deficit after charges (system), 1892, ,919
VS.. surplus Of $11,175 a year previous
five months deficit was $4,786,964 VS..
deficit of S987 ,404.
Woolworth IF. W. & Co., Ltd.-De-
clared interim dividend of 1876 cents
for year ending December 81, 1882, on
American depository receipts for ordi-
nary registered stock.
Sweets Co. of America passed quar-
terly dividend on common stock; last
payment IS cents on May 2.
Minneapolis, ST. Paul & Sault Ste.
Marie Railway May deficit after charges
of system, $835.856 vs. deficit of $685.
487 a year previous; five months def
cit, $4,539,738 VS.. deficit $3,322,82
Wisconsin Central Railway May net
loss was $285 ,035 VS.. net loss $204, 1896;