Evening star., 1936-06-15
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, June 15-The follow
ing is today's summary OF corporation
news prepared by Standard Statistics
Co., Inc, New York.
Lee Rubber & Tire Corp.-Doilar
sales Of company in May, 1886, showed
an increase of 56 per cent over like
1895 month and were the largest in
tire volume since September, 1929.
Segal Lock & Hardware Co.-Sales
and shipments in first five months in
creased AZ per cent, compared with
like period Of 1885, untitled orders as
of May 81, were more than 230 per
cent larger than a year ago.
Alton Railroad-Deficit, 5 months
May 81. was s74e,46S. VS.. deficit OF
81 ,020,945.
American Locomotive Co-Com-
pany received an order for three
Diesel-propelled switching engines
from Boston & Maine Railroad and
Portland Terminal Co, subsidiary Of
Maine Central Railroad.
General Motors Corp-Subsidiary
Electro Motive Corp, received an or
der for three Diesel-propelled SWITCH
ing locomotives from Boston Il Maine
Railroad and Portland Terminal Co.
International Great Northern Rail-
road-Deficit, 4 months ended April 80.
was s937,029, vs.. deficit of ss27.913.
Bethlehem Steel Corp.-Supreme
Court Justice Hofstadter, New York.
ruled that Bethlehem Steel Co. and
LackaWanna Steel Co, subsidiaries.
must liquidate their bonds and cou-
pons held by foreign corporations or
individuals in foreign currency when
the bonds guaranteed such payment.
New York Edison Co., Inc.-Com-
pany. subsidiary of Consolidated Ed
ison Co of New York, Inc. filed with
New York State Public Service Com
mission an application seeking author
ity to issue 100000 900 Of 3l4 per cent
bonds.
Stromberg- Carlson Telephone Man
ufacturing Co.-Company has booked
orders for about 5000 radio sets: pro-
duction schedules have been stepped
up so per cent ahead of a year ago
United States Hoffman Machinery
Corp.-In connection with issuance Of
10000 shares of new cumulative con-
yertible 5l2 per cent preferred stock.
par $50, it is proposed to offer the
new shares to holders of common
stock at $50 share at the rate of
one new share for each seven COM
mon shares held. 1t Is contemplated
that arrangements will be made to
sell to underwriters such Of the new
| preferred as may not be taken by
common stockholders: an increase in
common stock from 223,334 shares to
3l2,204 shares also is proposed to pro-
vide sufficient common for conversion
base rate of conversion; proceeds Of
sale of new preferred will be used
principally for working capital.
Louisville S5 Nashville r. RE
ports are current that another refund.
ing operation by company is expected
soon, arrangements virtually having
been completed between officials and
underwriters; it is understood f1nanc-
ing will involve the retirement Of
$l2, 2,753,000 of Louisville g. Nashville
first and refunding mortgage 511a per
cent, series A, bonds, due on April !,
2003, callable on or after October
at lO2, and also Of the $S.498, 900 of
St Louis division first mortgage IS,
redeemable at LOT.
Peoples Gas Light & Coke Co.
Illinois Commerce Commission denied
application of company for an in
crease in rates to offset the effect of
payment of State tax of per cent on
certain utility revenues; commission
said company had failed to show the
present rates not just and reasonable:
company proposes to carry case to the
courts.