Evening star., 1938-07-28
.STANDARDB
EARNS $1,913,28
Wheeling Steel Shows Loss
Of t$624,777-Rayon Firm
Deficit Is $1,511.
BY the Associated Press.

NEW YORK, July 28.-Standard
Brands. Inc, manufacturers and dis
tributors of foodstuffs. reported for
three months ended June 80 net in
come of $1,913,258 after all charges
and provision for Federal and foreign
income taxes, equal to 13 cents a
share on the common. This COM
pared with $2,861 ,4l0, or nearly %
cents a share, in the second quarter
of 1887.
For the IL months ended the same
date net income was $8,447,92l, equal
to about so cents a share, compared
with Sl2,978,3s3, or SO cents, in the
preceding 12-month period.
Wheeling Steel Co.
Wheeling Steel Co.. Wheeling, w.
Va, reported for the quarter ended
June 80 net loss of $624,777 after
ordinary charges and 100000 for
inventory loss, compared with net
profit of $2,463,034, equal to S4.87 a
share on the capital stock. in the
comparable quarter in 1887. In the
March quarter of 1888 net loss was
$531, ,035.
Industrial Rayon.
Industrial Rayon Corp. and subsidl-
aries for the quarter ended June 80
reported net loss of $l,5ll after
charges, against net loss of $118,939
in the preceding quarter and loss OF
$286 ,633 in the like 1887 quarter. The
principal plant is at Cleveland, Ohio.
Pittsburgh Coal Co.
Pittsburgh Coal Co. and subsidi-
aries for the quarter ended June 80
reported net loss of sl.2l4,884 after
charges, against net loss of s370,046
In the like quarter last year and
s76e,l75 in the first quarter this year.
Island Creek Coal Co.
Island Creek Coal Co. reported a
net income of Sl00,344 for the quarter
ended June 80, equal after preferred
dividends to IL cents a share on the
common stock This compares with
s327.2l9, or 40 cents a share, in the
preceding quarter and s2l3,4S7, or
80 cents. in the same quarter last year.
Pond Creek Pocohontas.
roma SIeSh SOdl W.
reported a net loss of S76,274 for the
June quarter, compared with a net
income of s34l58, or 20 cents a share,
in the preceding quarter and net
loss of $40 406 in the June, 1887, quar-
ter.
Air Reduction Co.
Air Reduction Co., manufacturer of
oxygen and acetylene gases and equip
ment for use Of these elements, re-
ported a net income of S888,757, equal
to 35 cents share, in the June quar-
ter. This compares with $795,590. or
81 cents share, in the previous quar-
ter and s2,2S9 ,498. or 80 cents a share,
in the same quarter last year.
Dixie-Vortex Co.
Directors of Dixie-Vortex Co.,
manufacturer of paper cups. dishes
and allied products, omitted the COM
mon stock dividend due at this time.
However, they declared the regular
quarterly dividend of 621z cents on
the preferred stock, payable October
/. of record September 10. A dividend
of Is cents was paid on the common
July last.
Fairbanks Morse.
Fairbanks. Morse e. Co.. machinery
manufacturers, reported for the six
months ended June 80 net profit of
s5l,78o, including profit of slO5,53
of Municipal Acceptance Corp, and
after depreciation, interest and Fed
eral income taxes. compared with net
profit of 81 l,0o3 ,o32 in the like 1887
period.
Phillips Petroleum.
Phillips Petroleum Co. and subsid-
iarles reported today for six months
ended June 80 net profit of $685.
l39, equal to $l26 share on the cap
ital stock, compared with $l2,679 080,
or S285 a share in the comparable
period in 1887.
The company has refineries at Bor-
ger, Tex; Okmulgee. Okla, and Kan
sas City, and through subsidiaries en-
cages in all branches of the indus
try on a national scale.
The company notified the Securities
and Exchange Commission in Wash
ingtou yesterday that it intended to
issue s25,000000 of debentures and
an undetermined amount of no par
value common capital stock.
The debentures will be convertible.
will bear 3 per cent interest and will
mature December l, 1948.