Evening star., 1944-08-21
Business Briefs
Steel Mill Operations for

Steel Mill Operations for the cur
rent week are scheduled at $3.50 OF
capacity, indicating production OF
1892 300 net tons, the American Iron
& Steel Institute announced. Fig
ures for last week we're 96fc and
l.7l9,600: for month ago. $3.50
and LIT 300; year ago, 9s.4re and
1,732,500.
Increased Crude Oil Production
will be needed in September to meet
military requirements, the PWA an
nounced in authorizing rate of
5,05l,000 barrels day, highest fig
ure ever certified, and jump Of
500 daily over August.
Armour & Co. registered with the
SEC S65,000,000 of first mortgage
20-year 314eo sinking fund bonds,
series E. Proceeds will be used with
a $4,000, 900 bank loan and current
funds to redeem all first mortgage
bonds, series B, C and D. Kuhn,
Loeb e. Co. will be the principal
underwater.
Western Union Telegraph Co. reg
istered with the SEC S24 SOB 900 of
20-year convertible debentures to be
offered to class A and class 5 stock
holders at the rate of $l00 principal
amount for each 5 shares of class A
and 8ls shares of class B. Unsub-
scribed debentures will be offered to
the public. Proceeds will be used
to redeem $25 100000 of 25-year SO
bonds at 1867 plus interest.
United States Leather Co. called
for redemption $3.50 shares of 70
cumulative prior preference stock on
October / at $110 share plus &C
crued dividend of SITS share.
United Air Lines will seek CAB
approval of a route to Honolulu at
a board hearing September 5. 1t
will propose sharp reductions in
time and fares.
American Smelling & Refining Co.
earned $4,223,967 or $1l3 a share in
the first half of 1914, compared with
$5,742,54l or $l82 in the same 1943
period.
Jewel Tea Co. net for the first %
weeks of the year was $604,l73 or
SO cents VS.. s457 053 or 81 cents a
year ago.
American Stores Co. earned $758,-
349 or So cents a share in the half
VS.. s755 2O8 or So cents in the same
l943 period.
American Hide & Leather Co. net
for IL months ended June 80 was
S4l4,853 or "a cents share VS.. $685.
ESQ or 78 cents in the previous year
Erie Railroad reported net income
of S3,696,266 or Sl03 in months
ended July 81 VS.. s6,655 ,807 or 1925
a year ago. It's s2,482 900 issue OF
New York g. Erie Railroad first
mortgage 40 bonds, due May l, 1947
will be redeemed before maturity
officials said.
Food Machinery Corp. net for the
half was $2,704,722 or $6.34 VS.
$1,225,1l8 or $287 a year ago.
Maytag Co. earned $661,750 or 10
cents in the half. after reserve for
renegotiation, compared with $7l8,-
O93 or l3 cents in the same 1943
period.
Timken Roller Bearing Co. net
for the half was $2,896,6l4 or $1.20
before renegotiaiton, compared with
$3,1l2,832 or $129 year ago.
Superheater Co. earned 81, 165, ,297
or $l.35 in the first half. before re-
negotiation, compared with $1,093,-
749 or $1.27 in the same l943 period
Union Electric Co. of Missouri re-
ported net income of $8,00l 1885 in IL
months ended June 80. compared
with $7,677.208 in the previous year
Boston Fund net assets on July
81 totaled $12,746,6 500 or S17.82 a
share VS.. $10,917,565 or 1881 a year
earlier.
Safeway Stores sales in weeks
ended August II totaled $51,5l4, ,783
a gain of l3.99o over a year ago; fol
80 weeks ended the same date, $685..
480,035, an increase Of ll.4T. y
Sunshine Mining Co. declared 6
dividend of 10 cents share, payabl,
September 80 to holders of recore
September !.