Evening star., 1932-06-21
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, June 2l.-The follow
ing is a summary of important corpo-
ration news prepared by the Standard
Statistics Co, Inc, New York, for the
Associated Press:
News Trend.
Whether stimulated by wave Of re-
placement buying or actuated by efforts
to avoid the per cent tax, effective to-
day, retail sales Of automobiles in the
week ended June 18 continued to ad-
vance somewhat more than is normally
expected at this time OF year. Major
part of the increase is attributable to a
further and unexpected expansion in
Ford output, offset to some extent by
curtailment in number of the low and
medium priced units. 1t is believed
that only small portion OF the June
buying has resulted from a desire to
sidestep the tax, and estimates Of a
sustained advance are predicted on the
belief that public buying is not quickly
responsive to stimulation OF this char
acter Despite the contra-seasonal up
swing that has been under way for
several weeks, predictions are that au-
tomotive production in the first half OF
1882 will fall some As per cent below
the corresponding period year ago
the years decline may reach 35 per
cent. First-quarter earnings of leading
manufacturers were around 96 per cent
short of the similar 1881 period.
The Companies.
American Water Works g. Electric
Electric output in May declined 20 per
cent. months decreased 1877 per cent.
Associated Telephone Utilities gross
earnings in II months ended April 30
up 81 per cent; net before depreciation
declined 15.5 per cent.
Brooklyn Manhattan Transit took no
action on quarterly dividend on COM
mon stock, last payment ON which was
81 on April 16; regular quarterly pre-
ferred dividend of Sl.50 was declared;
announced 10 per cent cut in salaries
and wages of all employees. except those
with whom there is definite agreement
to date. effective August l.
Empire Power Corp. took no action
on quarterly dividend on participating
stock usually declared at this time;
paid so cents April l.
Southern California Edison Co, Ltd,
gross revenue months to May 81. off
7.9 per cent: net before depreciation
off IL per cent.
Tide Water Oil Co., advanced price
of unbranded gasoline u cent a gallon
at principal Atlantic seaboard points.
Pacific Mills Cuts wages 20 to 22la
per cent at Lawrence division
Fashion Park Associates deficit. year
ended January 81, 81 ,4O4,774, VS. deficit
Sl,790,241.
Florida Power & Light May operat-
ing revenues off 10 per cent; net before
depreciation off SO per cent; operating
revenues in II months ended May 81,
fell 6 per cent; net before depreciation,
off 81 per cent.
Kansas Gas g. Electric gross heve-
nues in ~ months ended May 81, off
I per cent. net before depreciation off
10 per cent.
Texas Power G. Light May operating
revenues were off per cent, net before
depreciation off % per cent; operating
revenues in II months ended May
81 were off l per cent. net before de-
probation off l per cent.
Brazilian Traction, Light & Power
Co. Ltd-May gross off 54 per cent,
net before depreciation and amortiza-
ton off &C per cent: five-month gross
off 1873 per cent. net before deprecia-
ton and amortization off 2l.6 per cent.
F. g. W. Grand-Silver Stores-Re-
ceiver appointed for company by Chan
Gerry Court, Wilmington, Del. at same
time an involuntary bankruptcy petit
ton was filed against company.
Howe Sound Co.-Declared 10 cents
dividend paid 25 cents on April Is,
prior to which so cents was distributed
quarterly.
Vogt Manufacturing quar-
terly dividend on common stock; last
payment was Is cents on April l. 1882
White Motor Co-Gets 81 SOC, 900 Or
der for post Office trucks.