Evening star., 1942-04-29
By the Associated Press.

mOnCN perlOO.
Shipments Of 5,136,41S tons of fin
ished steel In the period were the
highest for any first quarter on
record, but were a little under the
5 1921 sol in the last quarter Of 1941
Operations were at 1015 per cent
Of theoretical capacity. compared to
los .08 per cent in the previous three
months and 1905 in the like quar-
ter of last year.
Payroll Sets Record.
The payroll for the period was
$164, ,788,652, record. and average
employees 325,530.
In press conference after the
board meeting, Irving S. Olds, presi-
dent Of the corporation. said cur
rent operations were at capacity,
both in ingots. and finished prod
ucts.
During March. he said, priority
rated tonnage turned out by the
corporations steel-making subsid-
iaries represented 81 per cent Of
total shipments. These, he said,
were to fill orders during priority
ratings Of A-10 or better.
Republic Steel.
Republic Steel Corp. reported
$4,716,962 net profit for the first
quarter, down from the $6,041 IA
figure for the preceding quarter and
So ,18e, 1866 for the first quarter Of
1941. The profit figure was after
$18 900 estimated provision for
Federal income and excess profits
taxes.
American Airlines.
American Airlines, Inc. reported
for the March quarter profit of $349,-
1872 after charges, taxes and depre-
citation, compared with 81, ,059 in the
first quarter of 194l.
Brown Co.
Brown Co., pulp and paper manu-
facturer, for the fiscal year ended
November 20, 194l, reported net
profit Of 81 ,484, ,353 after charges and
taxes, compared with net loss Of
$250,578 in 1910.
Cities Service.
The Cities Service Co. and sub
sidiaries reported consolidated net
income for the first quarter OF 1912
was $3,888, ,253, compared to $685.
6o3 in the like period of 1941.
For the parent company only,
Cities Service showed a net loss of
$402,474 for the period, against a
net profit of $l.151,535 in the 194l
quarter. Comparative figures showed
a sharp drop in dividend payments
to the parent from subsidiaries ac-
counted for the most of the de-
cline. For the 1941 period such pay
ments were $1,464,583, against $685.
683 this year.
Phillips Petroleum.
Net income of Phillips Petroleum
Co. for the first quarter was $3,364,-
$50, or 76 cents q share, compared to
$3,307 1892, or IA cents q share in the
like 1941 period.
Directors declared a regular div
idend Of so cents a share, payable
June l, to holders Of record May 8.
Curtis Publishing Co.
The Curtis Publishing Co. an
nounced a dividend Of 25 cents
share on prior preferred stock, pay
able July to stockholders of record
June S.
The company reported a net loss
Of $4,000 for the first quarter of
1912. Gross operating income for
the period was s11,693, ,406, a de-
crease of $637 900 compared with
the corresponding period last year.
Shell Oil.
Shell Union Oil Corp reported for
the quarter ended March 81 net in
come Of $4,656,546, equal to So cents
a share on the common stock, COM
pared with $3.621, ,794, or % cents,
in the first quarter of 1941.
May Stores.
May Department Stores Co. for
the year ended January 81 re-
ported consolidated net profit of /
$4,621.788. or s375 a capital share, |
compared with S5046, ,799, or S410 |
per share for the like previous pc
riod
Net sales were at a record high |
of s134,916 ,203, compared to $112,-
954,904 for the previous year. Taxes
amounted to $7,212,266 as of jan
uary 81, compared with $3,943,o16
reported January 81, 1941.
N. c. & St. L. Ry.
The Nashville, Chattanooga &
st. Louis Railway experienced a de-
crease of $96,l15, or 76 per cent in
let revenue from railway opera
tions for the first three months this
year, President Fitzgerald Hall re-
ported, while the net revenue for the |!
quarter was $1,157,559.
Operating revenues were $5,518,-
668, an increase of $1,O72,578, or |
24.12 per cent over 1941. Operating |
expenses were $4,361,109, an in
crease of $l,l68 ,693, or 1851 per cent. |
The net corporate income was