Evening star., 1928-05-26

STEEL SCRAP DOWN. Heavy melt
| ing steel scrap has declined rs cents q
| ton in the Chicago territory. quotations
now ranging from $12.50 to $i3 ton
AMERICAN BRASS CO.--American
Brass Co. has made another advance
OF IA cent a pound in prices OF copper
silver brass and nickel-SilVer products
FIRST NATIONAL STORES. Re
ports of merger of First National
Stores. Inc. with Kroger Grocery &
Baking Co. were denied by c. r. Adams
treasurer of First National Stores.
YOUNGSTOWN SHEET. .-- James A
Campbell. president of Youngstown
Sheet a. Tube, expects the steel husi-
ness will be rather quiet this Summer
and until the national election. He said
ne was by no means pesSmistic. He
expected the volume of business would
be better than usual in a presidential
year but did not look for any really
active demand until November.
BALDWIN LOCOMOTIVE Untitled
orders of Baldwin Locomotive Works
are now the highest this year. Opera
tions continue at 30 per cent.
CADILLAC EXPORTS. Export ship
for four months this year were l89
units, an increase of ITO per cent over
the same period of 1927.
MIDLAND STEEL PRODUCTS
Profit of Midland Steel Products for the
first four months of 1928 was 1898, ,296
before Federal taxes, against $859.957
in the same period Of 1927.
LEE RUBBER g. TIRE.--Net profit
OF Lee Rubber 81 Tire for six months
ended April 80 was $91 .148, equal to 81
cents a share. In the previous year
the company reported net profit OF
$485, ,49l for six months ended June 30,
or 81 65 a share The fiscal year has
been changed TO end October 81.
VICTOR TALKING MACHINE.
ckholderS OF Victor Talking Ma
chine Co. voted to reduce the author
ized per cent prior preference stock to
$20. .304 900 from $40, ,000 which
was accomplished the last year through
retirement Of the stock by purchase.
UTAH POWER IL LIGHT -~ Balance
of the Utah Power 81 Light Co. for the
year ended March 81 after preferred
dividends, was $2,l72,447. decrease OF
s28l ,205 from the year before.
NEW YORK CENTRAL --- April
earnings of the New York Central Rail
road were smaller than a year ago,
gross revenues Of $50, ,l3l 1853 showing
a drop OF Sl,374 .504, and net railway
operating income of 459l 806. q de-
crease OF $439,0 OBS Net for the four
months was Sl6.5A3,3 $40, decline Of
1853, ,737 from the same period OF
1927. while gross revenues we're So
ASH .692 less Operating expenses for the
four months were reduced 4.SS8 1873.
UsL BATTERY CORPORATION
Stockholders of U 81 Battery Corpora
ton approved a merger with Electric
Auto-Lite Co. Directors declared final
dividends OF 1928 cents on the pre-
ferred "A" and IL 2-3 cents on the
"B." payable June 10 stock Of record
May 81 The outstanding 6 per cent
gold bonds have been called FOR re-
demption on June l at l05.
MENGEL CO.~-A split-up of 800
par value common stock OF the Mengel
Co. into four shares. OF no par was
voted by stockholders, Second quarter
net sales thus far are per cent ahead
of the first quarter. Unified orders on
May Il were 81 All 900, against ST.
448 600 q year ago.
SILK SHIPMENT A shipment of
3.l00 bales of silk. valued al $2351, TIA.
one of the largest from the Orient. ar
rived in Hoboken. N. J.. today on spe-
cial train OF Is ttrs.