Evening star., 1944-05-17
Business Briefs

Electric Power Production in the
week ended May 13 totaled 4,238,-
375,000 kilowatt hours, compared
with 4.233, ,75600 in the preceding
week and 1859 ISL 900 in the like
1943 week, reported the Edison
Electric Institute.
New Jersey Power & Light Co. Of
fering of s900O,0OO 80 first mortgage
bonds and 10000 shares of 40 cumu-
lative preferred was placed on the
market by First Boston Corp. and
associates. The former was priced
at i04ss and accrued interest, the
latter at s101 so share.
Industrial Rayon Corp. offering
of 100000 shares of $3.50 preferred
stock, series A, was placed on the
market at 500 share by syndi-
cate headed by Kuhn. Loeb 81 Co.
and Hartman, Ripley & Co.
West Penn Power Co. proposed
issuance and competitive sale of
S12,500O00 80 first mortgage bonds
of 1914, series L, was approved by
the SEC. Proceeds will be used
to redeem a like amount of series E
bonds at 1857.
Sinclair Oil Corp. stockholders ap-
proved a contract allowing President
H. r. Sinclair to buy 10000 COM
mon shares at s1325 a share. Be-
fore the vote Mr. Sinclair an
nounced that earnings justify and
I am going to recommend an in
crease in the dividend" on common
stock.
M. A. Hanna Co. stockholders ap-
proved issuance of 100000 new $425
preferred shares to be exchanged
for a portion of the l28,53l out
standing shares of SIS preferred.
American Telephone & Telegraph
Co. declared the usual quarterly
dividend of 1925 a share, payable
July Is to holders of record June Is
Brewster Aeronautical Corp. prob
ably will not receive further orders
Of Corsair fighters from the Navy
because of sharp cutbacks in fighter
plane production, Henry j. Kaiser
told stockholders. A new slate of
directors nominated by James Work
was elected.
Westinghouse Electric & Mfg. Co,
which discontinued the manufacture
of home receiving radio sets in 1928
will return to this field AS soon as
war conditions permit Vice PreSi-
dent Walter Evans announced.
F. w. Woolworth Co. sales in the
first four months Of 1914 totaled
Sl32,7l2072, gain of l44oe over a
year ago. stockholders were told at
the annual meeting.
Twentieth Century Fox Film Corp
reported consolidated net profit fol
the first quarter of SO, 1876 900 or ST. 81
a share, compared with S2,673 00(
or Sl,30 in the same 1943 period.
Chesapeake q Ohio Railway re-
ported net income of S9l99,4l9 OF
Sl.20 share in four months ended
April 30, compared with S10,408 9le
or $l.33 in the same l943 period.
Seaboard Air Line Railway net
for the first quarter was So, 1853 los
VS.. S7,902 1877 year ago.
Commonwealth g. Southern Corn
earned S444l 1893 or 50 a preferred
share in four months ended Apri
30, compared with S5,l11 ,566 or SO "A!
preferred share in the same De
riod last year.
International Paper Co. net fo
March quarter was $2.1l6,706 or 5.
cents a share, before renegotiation
compared with $2,023,l18 or At cent
year ago.
Certain-teed Products Com
earned S195,257 or $3.50 a preferred
share in the March quarter, COM
pared with S119,236 or SLIT a pre-.
ferred share in the same l943 period
Fairchild Camera e. Instrument
Corp formerly Fairchild Aviation
Corp, earned $l,449110 or 1929 g
share 70 l943. compared with S4O7,.
644 or $1.2o in 1912.