1934-08-02 — Page 12

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HONG KONG, THURSDAY, AUGUST 2, 1934.

·· COTTON-CONTROL- IN AMERICA.

Enforcement Of Act Despite Low Crop.

SPECIAL TO CHINA MAIL.

STANDARD OIL OF CALIFORNIA

Dividend Declared.

SPECIAL TO CHINA MAIL. #ly Telegraph, Copyright, Telagro- in Alemmer Ordinance, 1894, Ste- Received August 1, 821 am)

Diy Tetryenph, Copyright, Teleprus phie Mensagen Onlinanev, 2402. jerived August 2, 8.43 0.9.)

Washington, Tonday.

Now York, To-day. The Standard Oil Company of

-U.S. STEEL OUTPUT

DECLINE.

Industry Af 26 Per Cent. Of Capacity.

SPECIAL TO CHINA MAIL (By Telegraph, Copyright, Telegra nhia Messages Ordinanca. 1894. Re- ceived August 2, 8.21 a.m.)

New York, To-day. It is indicated that the Bankhena California has declared a regular The journal, Iron Age, declares cotton control measure will be quarterly dividend of 25 cents, that the steel industry is at 26 per enforced even if this year's crop is income for the second quarter cent. of capacity due to an increase below the legal maximum,

wae U.S.84,017,243, as compared in negative influences, particularly Ometals do not believe that the with U.S.4%,328,591 in the first the decline in automobile production Act will beraine automatically vold, Jaunrter, und U.S.$1,018,400 In the and the delivery of the remainder of į as some expect, by n yield below corresponding quarter of last year. the railroad orders. the limit, as it would be unfah to-United Press, por 9. E. Levy and growers who limited production in Company. anticipation of the Act's effects.-- United Press, per S. E. Levy and Company.

U.S. NEW SECURITY FLOTATIONS.

Tremendous, Increase

SPECIAL TO CHINA MAIL.....

CRUDE OIL PRODUCTION

New York, To-day.

It is pointed out that shipments have declined more than production, due to re-stocking of inventories,! which has enabled the maintenance of some operating schedules.-United Press, per S. E. Levy and Company.

The dally average crude oil pro- duction in the United States for the STEEL CONSUMPTION DECLINE week anded July 81, was 2,547,350 -barrels, as against 2,592,800 barrels

last week.

"New York, To-day.

The journal Iron Age reports that

Motor fuck stocks were 59,286,000 the railroad and automobile indus- barrels, as against 60,028,000 bar tries, consumption of steel is de- (Hy Telegraph. Copyright. Teleurrels for the previous week.-United clining and forecast pessimistically. phir Messages Ordinance, 1894, Re-Prens, per S. E, Levy and Company.-United Press, per S. E. Levy and,

ceived August 2. 10.12 a.)

New York, To-day.

New United States security flo- tations in July amounted to U. S. $261,786,000, na ngainst U. S. 384,-| 044,000 in July last year. This is the highest July figure since 1930.

July dividend declarations of 639 companies totalled U.S.$132,- 909,884, as against U. S. $127, 985,998 for 568 companies in July last year. United Press, per S. E. Levy and Company.

BETTER WOOL AND CHEAPER PRODUCTION

VINES TO VISIT HONG KONG

(Continued from Pade 11

Mr. S. A. Gray, Secretary of the

Company.

BOKROWING BOOM PREDICTED.

U.S. Journal Optimistic.

SPECIAL TO CHINA MAIL.

New York, To-day. The American Bankers' Associa-

Hong Kong Lawn Tennis Associa tion, stated that nothing has been heard locally of any arrangements regarding the proposed visit of Ells- Worth Vines to Hong Kong in Seption Journal states that, despite tember, and that the Association has the present spotty business situa- no arrangements for exhibition matches in hand.

tion, the current trend of banking presages greater industrial commercial borrowing in Autumn-United Preas, per S. E. Levy and Company.

MESSRS DEERE DECLARE

HIGHER DIVIDEND

and

the

U.S. RAIL SHARES SUPPORT

¿Continued from Pune to

(Continued From Page 1) By-products of the various pro Unfavourable factors are that cesses are also valuable, and it is Wall Street is disappointed at the balieved that the invention offers failure of the United States Steel great possibilities for many Em-Corporation to increase the pre- pire products, which are at preferred dividend, and that the ex- sent of little value. A large fee-pected death of President von tory, capable of producing numer Hindenburg of Germany is likely declared a 10-cent preferred divi- lous types of ionized oila on ato cause

new complications in dend, as against a five cents divi~! commercial scale, has just been the European political crisis.dend for the six previous quarters. opened near London. British United Press, per S. E. Levy and United Press, per S..E. Levy and Wireless Service,

Company.

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