Evening star., 1943-11-15
Business Briefs
A Decline in Steel Production +,

the current week was indicated by
the American Iron & Steel Insti-
tute, which reported mills were
scheduled to operate at 978%o of
capacity against 1920 last week,
and turn out 1,704,600 net tons of
lngots, compared with I'LL 600 tons
last week A rate of 1007qo a month
ago represented an output of 1885,
200 tons. A year ago the rate was
987qo and production 1855, 400 tons.
Private Building Permits in 215
cities were valued at $4l8,418,8 800 in
the first ten months of this year, or
1926 below s723, ,629,952 in the same
1912 period, Dun g. Bradstreet, Inc.
The National Capital with
SIG, 49,7l4, compared with $685.
SAB year ago, was fifth city in the
nation, being outranked only by De-
troit, New York, Los Angeles and
Portland, Ore
Weakness in Rail Securities ap-
pears to overlook, or at least under
estimate, the favorable postwar po-
sition indicated for the carriers, ac-
cording to United Business Service
Too little attention is being given
TO the fact that the roads are using
flush wartime earnings to put their
financial houses in order, and will
end the emergency period in the
best financial shape in many years.
the service declared.
Largely Due to Labor Shortages
domestic cotton consumption in Oc-
tober was only 855 900 bales, against
$4,000 in September and $4,000 in
October, 1912, the New York Cotton
Exchange estimated For three
months ended October 81, consump.
ton was 1859 900 bales, or about 10Tc
below 2,858.000 in the same perioo
last season.
New England Power Association
was authorized by the SEC to spenc
not more than 81 100000 in the nex'
six months, in addition to the
amounts permitted under the Hold.
ing Company Act, to purchase in the
open market Its outstanding SO de.
bentures, due l948, and 5la Co deben.
lures, due 1854.
Derby Oil & Refining Co. declared
a dividend of 81 on the 81 cumula.
tive preferred stock on account oi
arrears, payable December 10 te
holders of record December /. Div.
idends this year will total S21 g
share, compared with So last year
and after payment of the new 81
dividend will amount to SIG share
The firm earned $336,85 or S17.87 a
share on the preferred in nine
months ended September 80, COM
pared with 204,959 or s10.87 a pre-
ferred share year ago.
Trial of 16 Flour Milling Firms
eleven of their executives and their
national trade organization, on a
charge of conspiracy to fix prices on
packaged family flour, has been re-
assigned to January 10 by Federal
Judge Philip L. Sullivan at Chicago
The trial had been scheduled to
start today. All defendants pleaded
innocent June Is.
Atlanta & Charlotte Air Line
Railway Co., leased line of the
Southern Railway, awarded a new
issue of $15,0O0,0O0 first mortgage
bonds to group headed by Halsey
Stuart & Co. on a bid of 99.039 fol
the issue as 3&s. Proceeds viii
be used with other funds for re.
demeption of outstanding securities
The bonds were reoffered at 1907
subject to ICC approval.
Atlantic Coast Line Railroad Co
reported net income of $11,7S5 ,991
or $14.30 a common share in nine
months ended September 80, com.
pared with $13,485 ,O28 or S16.37 6
share in the same 1912 period.
Distillers orp.-Seagrams, Ltd.
earned s1O,039,503 or s5.28 a share
in the fiscal year ended July 81
compared with $10,897, ,44O or s5.7s
a share in the preceding fiscal period
Columbian Carbon Co. earned ST.
O22,219 or $3.76 a share in nine
months ended September 80, COM
pared with $2,140,999 or 1898 a share
in the same period last year.
Belding Hemingway Co. earned
1858 1863 or 80 cents share in nine
months ended September 80, COM
pared with $615,950 or $3.50 a share
a year ago.
Pullman, Inc, earned $2,933 ,929 or
80 cents share in the September
quarter, compared with s4,156,325 or
l.26 a share in the same 1912 period
Net for nine months ended Septem-
Der 80 was $7,434, ,252 or S2.25 a share
compared with $11,245, ,166 or S3.4O a
share in the same 1912 period.
Pennsylvania Central Airlines
Corp. earned $140,493 or "a cents a
share in the September quarter
compared with s107, 1913 or Is cents
a share in the preceding quarter
Net for nine months ended Septem-
Der 30 was $260,012 or 81 cents q
share. No comparisons with a year
ago were given.
McWilliams Dredging Co. earned
S225, ,425 or $119 a share in nine
months ended September 30, COM
tion