Evening star., 1938-06-22
CORPORATION
REPORTS

NEW Ao4t1A, ullC AlC AoiAON-
ing is today's summary of corporation
news, prepared by Standard Statistics
Co., Inc, New York:
United Milk Products Co.-Declared
50-cent common dividend regular
quarterly dividend Of IS cents on pre-
ferred and a participating dividend of
so cents on preferred stock, all payable
July l to holders Of record June o.
Similar payments were made April /,
1888.
Caterpillar Tractor Co.-Company
reduced prices of its tractors in
amounts ranging from $3.50 to $3.50 and
Diesel engine prices by from SITS to
$3.50. In announcing price reductions,
company said that purpose was to
stimulate business and to obtain for its
5000 employees continued or increased
employment. Cuts ranging from rs
per cent to 14.2 per cent on tractors
and 8.5 per cent to 233 per cent on
Diesel engines.
Standard Oil Co. of Ohio-Company
raised price for all grades of tank car
gasoline 4 cent gallon.
Wilson-Jones Co.-Common share
earnings, nine months ended May 81,
were q cents, against Sl88.
Jones & Laughlin Steel Corp.-Com-
pany has relighted four open hearths
at its South Side plant.
Brooklyn Manhattan Transit Corp.
Directors of company took no action
on quarterly dividend on S6 class A
preferred stock. last payment on which
was $3.50 share on April Is. 1888
Central Maine Power Co-Preferred
share earnings. IL months ended May
81. were 1927, against $916.
Connecticut Gas & Coke Securities
Co.-Directors of company declared
dividend of SO cents on preferred stock.
payable July to holders of record
June Is. for the quarter ending June
80. In order that company may dis
tribute full quarterly rate of IS cents
snare, United Gas Improvement Co.,
oy terms OF agreement dated June 8,
agreed to advance an amount equal to
II cents per share of preferred stock,
such advance being made by reason of
lndemnif1cation agreement of United
Gas Improvement Co. with Koppers
co. IN respect to latter's guarantee of
dividends of Connecticut Gas g. Coke
securities.
1nterborough Rapid Transit Co.
Federal Judge Patterson, New York.
decided that receiver of this company
might disaffirm the 99s-year lease of
Manhattan Railway Co. elevated prop
critics and return those lines to the
lessor or the lessons receiver. For the
damages for breach of contract. Man.
haitian bondholders would file claims
against the Interborough estate. In
view OF the Importance of the matters
involved, Judge Patterson said, a stav
as to return of the Manhattan lines
would be granted and the receiver for
marlborough creditors would continue
operation Of them pending appeal.
Manhattan Railway Co. United
States Circuit Court of Appeals at.
f1rmed the decision of Federal Judge
Patterson refusing to stay City of New
York IN its action to collect tax liens
OF s9,750,722 against Manhattan Rail-
way Co. by advertising the liens for
sale in the City Record.
Mckesson g. Robbins, Inc.-April
net sales decreased rs per cent under
April, 1887. In four months net sales
were of AZ per cent.
Brooklyn g. Queens Transit Corn
Def1oit, II months ended Nav 81 was
$lS3,l05 against net income of se1s-
174. ~'A''
Waltham Watch Co.-Companv
posted notice of closing of plant June
rs for an indefinite period.
Shell Union OH Corp.-Declared a
midyear dividend of IS cents IN
common stock, payable July Is to
holders of record July /. On july
Is, 1897, midyear disbursement Of
so cents share was made on com.
mon. It was stated earnings during
first six months of 1888 while smaller
than in like period of 1887 are ex-
pected to be in excess of common and
preferred dividend payments. In view
of uncertain conditions prevailing,
however, directors considered 1t pru-
dent at this time to follow conserva-
tive policy.
st. Louis-San Francisco Ry.-Deficit,
I months ended April 30, was $5,057,.
76e, against deficit OF $3,0ll,411.