Evening star., 1943-08-09
Business Briefs
A Special Label for American Tex.


A Special Label for American Tex
tiles to take advantage of their
reputation for durability, high quail
ity and distinctive styling is pro-
posed by the Textile Export Asso-
citation IN cooperation with the
Owl. A distinctive red white and
blue label with sketch of the
Statue of Liberty and the caption
Imported from the United States"
will be used on all shipments to
foreign markets If the campaign
succeeds.
Earnings are Taxed More than
1909 over a period of time in some
industries, which experience wide
fluctuations in year-by-year sales.
according to the Industrial Confer
ence Board. This is due to technical
procedures employed in arriving at
tax liability, which are not we'll
suited to numerous industries, the
board declared.
Northern Indiana Public Service
Co. awarded s45,000,000 first mort.
gage bonds, series c, to a group of
investment houses headed by Halsey,
Stuart & Co., on bid of S1O1 .7l9
for the 31a % issue The bonds are
dated August !, 1943, and are due
August l, 1878.
South Caroline Tobacco Markets
will close if the OPA fails to make
correction" in the 4l-cent ceiling
price, which does not allow for grad
ing and tying, predicted Representa-
tive John L. Mcmillan, Democrat. of
South Carolina. He said grading
and tying costs amounted to from
IS to ST hundred pounds and that
he believed a s48 ceiling should be
set on tied and graded leaf 'if un-
tied tobacco in Georgia is under a
SAL ceiling"
Chicago, Burlington & Quincy
Railroad Co. invited tenders from
| holders OF Illinois division 312fo and
40 bonds, due July l, 1949. Tenders
must be received before August 25
At the end of 1912 there were $50
174 900 Of the 3las and S33,976,00O OF
the As outstanding. e..
Colorado Milling & Elevator Co,
announced it would redeem on or be-
fore October 13, the outstanding So
100000 so debentures due June /
1868. The company will issue 10000
shares of cumulative convertible pre-
ferred stock no par value to finance
the redemption along with proceeds
from the sale of 100000 15-year
~ sinking fund debentures, to be
sold privately.
American Brake Shoe Co. has ac-
quired Electric Alloys Co., of Elyria,
Ohio, and will operate it as a sub
sldiary Walter C. Hoffman, man
ager of the brake shoe company s
| manganese steel division, will be-
come president of Electric Alloys.
Fairbanks, Morse & Co. factories
are working a. capacity on Diesel
! engines, pumps, motors, scales and
ether equipment for the war effort
and current shipments are at their
highest point in history, President
Robert H. Morse declared
Lion Oil Refining Co. earned Sl.5l
a share in the first half, compared
with Sl.29 a share in the same 1912
period.
Americn Water Works & Electric
Co. earned s1,404,868 or "a cents a
share, before special tax adjust
mentS, in six months ended June
3d. compared with a revised net OF
$l,353 ,297 or 80 cents a share on
the same basis year ago. After
tax adjustment, net for the first
half of this year was s1,9O6,6l5
against Sl,751 $50 year ago.
Abbott Laboratories earned ST.
257 ,875 or ST SO a share in six months
ended June 30, compared with a
revised net of $1,078,968 or S1.34 a
share year ago. Net for the 1943
period was after a reserve for re-
negotiation.
| Household Finance Co. earned So. =
240,523 or 81 48 a share in the first
half, compared with $2.429,140 or
S274 share in the same l942
period.
General Shoe Corp. earned S240.-
| l52 or 81 cents a share in the quar-
ter ended July 81, compared with
| $l37,727 or 20 cents a share a year
ago. For nine months ended July
81. net was S756.2 or ST Is a share,
compared with $656, 1881 or 81 a share
IN the same period year ago.
Thompson Products. Inc, and It's
subsidiaries. including Thompson
Aircraft Products Co earned ST.
408l or S453 share in six months
ended June 30 compared with ST.
1898 or $376 a share a year ago.
Sales totaled S64,064,616 against
34,974,642 year ago.
Bath Iron Works Corp. earned
S1,3360O0 or 1919 a share in the
first half, compared with $584,214
or $139 a share year ago.
American Automobile Insurance
Co. of St. Louis has purchased the
Associated Indemnity Corp. and the
Associated Fire Marine Insurance
Co. for approximately $500 900
cash. Both firms have headquarters
in San Francisco and will remain
under their present managements.
Rochester Gas & Electric Corp.
earned S2,949,69l in the year ended
June 30, compared with $2,224 $50
in the preceding year. Gross rev.
enues totaled s19,837,943 against