Evening star., 1937-03-28
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS


per cent, affecting large percentage
of day and piece work employees in
the Schenectady plant; an adjustment
for all salaried workers would be made
shortly, it was said.
International Silver Co-Vice Chan
cellor Fielder, Jersey City, N. j., issued
a temporary injunction restraining
company from changing its capital
structure, and at the same time he
issued an order requiring company to
show cause on April why the in
junction should not be made perma.
nent; injunction was obtained by hold
ers of 1913 shares of per cent cumu-
lative preferred; injunction did not.
prohibit the taking of vote of stock
holders on the plan, but did block
further action to change the stock
structure pending final judgment;
stockholders of company approved a
recapitalization plan which contem-
plated exchange of present preferred
and common stocks into new securities
and a reduction of capital represented
by common shares, with a correspond
ing addition to surplus.
Barber Co.. Inc-l936 common
share earnings were s114, against 40
cents.
Texas Corp.-1936 common-share
earnings were $414, against $l.85.
Boston & Maine r. R.-Cost of re-
pairing damage to property caused by
floods of March, 1886, together with
loss Of revenue resulting therefrom.
amounted to about 5000, 900, of which
around $2,700,000 was reflected in in
come account.
New York Central r. R.-February
net railway operating income was
s3,035, ,759, against $2,718,738; in two
months net railway operating income
was s6,899,462. against s5,377,669.
Pennsylvania R. R-February net
railway operating income was $4,939,-
1893, against $4,658,89l; in two months
net railway operating income was So
754,937, against s9,968,697
Pittsburgh & Lake Erie r, R.-Feb-
ruary net railway operating income
was s357,586, against $363,68 in two
months net railway operating income
was s697,911, against S554,944.
Butler Bros.-President stated that
company for first two months of 1887
showed profit of about $l44 900, con-
trasted with a loss of $1Ol 900 in like
period OF 1886. The two months sales
were 18 per cent greater than in 1896
and March to date was reported almost
| as good. The two months net avail
able for common stock, after preferred
dividends and taxes, was $4,000.
Gimbel Bros, Inc-Common share
earnings, before surtax, year ended
January 81 were $231, against deficit
OF l9 cents common share in year
ended January 81, 1886. President
said directors have given careful con-
slderation to question of dividends on
common stock, particularly in view of
present tax laws. Conclusion reached
was that capital requirements of
growing business preclude such dis
| trlbutlon at this time. Matter will
again be reviewed later in current
fiscal year and considered in light of
conditions and prospects at that time.
Reliable Stores Corp-l936 common
share earnings were s243, against
S181
American Woolen Co.-Company
announced increases of S to 712 cents
yard on men's-wear worsted suit
ings; cotton-manipulated worsteds
were advanced S cents, and all
worsteds tx cents over the opening
basis of two months ago.
Nauinkeag Steam Cotton Co.-Em-
ployes of mills and bleachery, num-
bering $500, voted to accept COM
pany's offer of 10 per cent increase
in wages. effective March 20. A SINH
lar increase was made November %,
1886. ra
Universal Pictures Co. - January
quarter deficit was $4O3. .966, against
deficit of $16l, ,702
Cities Service Power g. Light Co.
Preferred share earnings, before sur
tax, year. ended September 80 were
Sl3.40, against s10.91.
Engineers Public Service Co.-Com-
mon share earnings IL months ended
January 81 were SO cents, against
deficit of 81 cents common share
in II months ended January 81, 1886.
international Telephone & Tele-
graph Corp.-1936 common share
earnings, before income from Spanish
subsidiary and surtax, we're IS cents,
against 40 cents.
Smith q. c. g. Corona Type
writer's, Inc.-Company put into effect
an increase of per cent in hourly and
piecework pay for nearly 5000 en-
ployes; it was estimated that the in
crease will raise the total pay roll
s175,000 annually.
Underwood Elliott Fisher Co.
President said business and profits of
company in first two months were
ahead of like 1886 period.
Atchison, Topeka & Santa Fe Ry.-
February net railway operating in
come was $1,140,729 against $192,937;
in two months net railway operating
income was s2,307 ,096 against $673,-
544.
Baltimore & Ohio R. R.-February
net Railway operating income was
$1,799.373 against $2,l46,274 in Feb
ruary, 1896; in two months net rail-
way operating income was $2,820, ,422
against $4,177,598.
Safeway Stores, mc-Company reg
istered with S. E. C. $20O0O,OOO Is
year sinking fund debentures, due
April /, 1852, and 92,397 shares 500
par S per cent cumulative preferred;
company will offer the 92,397 shares
of 5 per cent preferred to holders of
per cent preferred, which is to be
retired on the basis of 11-1Oth shares
Of per cent preferred plus 3712 cents
in cash for each share of per cent
preferred stock; net proceeds from
sale of securities would be applied to
payment in full Of bank loans totaling
s10,000O00 and retirement Of per
cent preferred stock.
General Motors Corp.-Domestic re-
tail deliveries of Bucks during the
second 10 days of March totaled 6,856