Evening star., 1934-09-02
CORPORATION
REPORTS
TRENDS AND PROSPECTS, OF
LEADING ORGANIZATIONS.

TRENDS AND PROSPECTS, OF
LEADING ORGANIZATIONS.
NEW YORK, September 1.-The
following is today's summary of
corporation news prepared by Stand
ard Statistics Co., Inc, New York:
Curtis Publishing Co. declared a
dividend of SITS on account of ac-
cumulations on 81 cumulative pre-
ferred stock; payment Of this dividend
will reduce arrears on issue to be So
share; on July 2, 1884, a disburse-
ment of $1.25 a share on account OF
arrears was made on preferred.
WHY'S Overland Coin connection
with application to Federal Court,
Toledo, for permission to build TO-
600 additional cars, it was said that
company has orders already on hand
for 1000 of these cars.
Hercules Motors Corp.-Net in
come, six months ended June 80, was
$93 1874, equal to 80 cents common
share, VS.. deficit $68,613.
Simmons Co.-Federal Court, Grand
Rapids, Mich, awarded receiver for
Berkey & Gay Furniture Co., $2,1s1,-
750 in its suit against this company;
suit alleged Simmons Co. purchased
control of Berkey & Gay and depleted
it's assets through fraud and mis-
management.
Continental Shares, Inc.-Under
plan for settlement Of $16,754,528
debts of company with various
creditors, company would have left
blocks of Republic Steel Corp. and
Cliffs Corp. stock after debts were
settled; the stock at present market
prices would have value Of around
$2,000,000.
Foster Wheeler Corp.-Deficit, six
months ended June 80, was $3.50, ,125
VS.. deficit $436, 6,588; untitled orders of
company on June 80, totaled $4,046,-
400, compared with $2,128,224 on June
80, 1888.
Mapes Consolidated Manufacturing
Co.-Common share earnings, six
months, ended June 80, were $2.55 VS..
$287.
United States Distributing Corp
Corp, has agreed to advance wages
of truckmen SIS, bringing drivers up
to S45-$47.5o a week and helpers to
$50 week.
Hancock Oil Co. of California net
income, year ended June 80, was $685.
295, equal to 81 cents combined
class A and B share VS.. deficit $75,659.
Socony- Vacuum Oil Co., Inc.-Sub-
Sidiary, Magnolia Petroleum Corp,
has received a contract to supply
State of Texas with its petroleum
products requirements for the coming
fiscal year, beginning September l,
1894; Magnolia, it was stated, will
furnish $4,000 worth Of gasoline,
motor oil and grease.
Bangor & Aroostock r. R.-Nego-
tiationS are reported under way be-
tween this company and bankers for
bond issue, which might be made
convertible into common, to provide
in advance for maturity April /,
1885, of Northern Maine Seaport &
Terminals first mortgage per cent
bonds, an assumed obligation of COM
pany.
Minneapolis & st. Louis R. RE
organization Committee approved
plan for reorganization of this COM
pany and passed a resolution asking
Federal court to adjourn for go days
the sale now set for September 5.
Reorganization would be carried out
with the aid of loan from r. F. c.
which has agreed, subject to approval
Of I. c. C. and other proper condi-
tions to lend $4,750,000 to be secured
by closed first mortgage of $8,000,-
600 on entire property of successor
corporation to be organized to take
over substantially all assets of pres
ent company; proceeds Of loan will
be used to pay of receivers certifi-
Gates at par and other obligations,
such as preferred claims and first
mortgage Merriam Junction-Albert
Lea Division bonds at discount
commensurate with the situation
holders of the six other bond issues
F system are to receive non-cumula-
tive adjustment bonds and common
stock on basis arrived at by arbi-
tration.
st. LouiS-San Francisco Ry.-Trus-
tees named under amended bank
ruptcy act notified holders of gen.
eral mortgage currency 4 per cent
bands and income mortgage currency
per cent bonds of Kansas City,
Memphis & Birmingham r. R. Co..
assumed obligations of this company,
that they did not feel justified in ap-
plying to court at this time for au-
thority to pay interest due Septem-
ber l, 1884; announcement cited re-
cent developments which have cut
into income Of company, including the
pay rise. the Federal pension charge
and reduced revenues because of
drought.
Cannon Mills.-Company's unit at
York, S. c., has added $50 additional
workers as result of receipt of re-
cent Government order for toweling. !
Associated Gas & Electric Co.
Electric output of system for week |
ended August 25, an increase of 0.3 |
per cent over like week of 1888.
Green Mountain Power Corp-De-
clared a quarterly dividend of rs cents
share on Sc preferred stock; SINH
lar payment was made on June l,
1884.
Northern States Power Co. (Del).-
Net income before subsidiary pre-
ferred dividends, II months ended
June 30, was $5,342,273 VS.. $6,394, 1872.
Ohio Bell Telephone Co-Com-
pany has carried to Ohio Supreme
Court an appeal from an order of
Ohio Public Utilities Commission pro-
viding refunds of $12,167, ,678 to sub
ScriberS.