Evening star., 1936-07-03
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, July 3.-The following
is todays summary Of corporation
news prepared by Standard Statistics
Co., Inc, New York:
Freeport, Texas Co.-Lower House
of the Louisiana Legislature has
passed a bill increasing the severance
tax on sulphur to 81 ton from present
rate of so cents.
Anheuser- Busch, Inc.-Declared di-
vidend of 81 share, Of which 81 was
distributed June 80, so cents will be
paid September 80 and so cents a
share on December 80; future pay
ments will be made quarterly.
United States Hoffman Machinery
Corp.-It Is proposed to offer the
newly-created 10000 shares Of $50
par cumulative convertible preferred
stock to holders of common stock at
$50 a share at rate of one new share
for each seven common shares held.
McWilliams Dredging Co.-Stock-
holders will vote on increasing author
lied no par capital stock from 100000
to 100000 shares and distribution of
a 100 per cent stock dividend
Standard Oil Co. New Jersey
Company has filed a registration
statement covering shares of it cap
ital stock as preliminary to a pro-
posed offer of exchanging for minority
shares of Colonial Beacon Oil Co.,
on basis of one share of its stock
for 2A shares Of Colonial Beacon.
Warner-Quinlan Co-With the ap-
pointment of trustees by Federal
Judge Hubert, New York, in the
reorganization proceedings of War
ner-Quinlan Co., the proposed plan
of Cities Service Co., to take over the
assets of the company was withdrawn;
no other plan has been submitted as
yet, but court intimated that there
might be other oil companies operating
on the Eastern Seaboard interested in
formulating plan in view of Warner
Quinlan's service station outlets.
Keeshin Transcontinental Freight
Lines, Inc.-Company has applied to
I. c. c. for authority to issue 5000
shares Of founders stock for sale to
Lehman Bros. at s100 a share.
Western Pacific Railroad Corp
May net railway operating deficit of
Western Pacific Railroad Co. was
s149,599, against net railway operating
income Of $149,422; in 5 months net
railway operating deficit was s510,-
344, against net railway operating
deficit of $119,526; further hearings
on plan of reorganization of Western
Pacific Railroad Co., operating sub
sidiary, have been delayed by I. C. C.
until August Is at the request of in
terested parties; r. F. c. report as
serts that about $4,000, 900 is needed
for rehabilitation and new equipment.
United States Steel Corp.-Ingot
production at plants of subsidiaries in
week ended June 20, was placed at
66R per cent of capacity, compared
with 66 per cent in preceding week
and IS per cent two weeks ago, SUBJ
sidiary is participating in rail order
from Chesapeake g. Ohio Railway to
extent Of about $750,000.
American Water Works g. Electric
Co.-Eectric output of system for the
week ended June q increased ISL per
cent over like 1885 period: in preced-
ing week gain was 1913 per cent.
1nterborough Rapid Transit Co.
Bankers Trust Co., as trustee for
I. r. T. 10-year secured convertible
z per cent notes, which became due
September 1, 1882. is notifying hold
ers that it has been authorized by
court order to distribute funds received
as interest on bonds pledged as Sc
curity for the notes.
Italian Superpower Corp.-Net asset
value on March 81, 1885, equaled
$140.74 A preferred share, against
s127.es on December 81, 1885.