Evening star., 1944-12-05
Business Briefs

L
Finished Steel Shipments in the
third quarter of 1914 amounted to
15.OO4,620 tons, compared with l5,-
127,001 in the preceding quarter and
1888 ,984 in the first 1914 quarter,
the American Iron & Steel Insti-
tute disclosed
Baltimore g. Ohio Railroad Co.
asked ICC approval of its plan to
refund S500,000. 900 of outstanding
obligations. Holders of at least Is 60
of the total have assured acceptance
General Electric Co. is negotiating
for purchase of radio tube branches
of Ken-Rad Corp. in Owensboro
KY, and four other places.
Columbia Gas & Electric Co. plans
to refund S76,000,00G of debenture S:
early next year and Mellon Securitie.
Corp. and Morgan Stanley & Co. art
forming banking groups to bid or
new securities which may be offered
Pan-American Always directors
were reported considering issuance
of additional stock to finance expan.
sion of Latin American and othel
services.
Southern Pacific System earned
$36, ,384,691 or 1854 a share in II
months ended October 81 VS.. $64,.
510,624 or $17.10 in the same 1874;
period.
Chicago Pneumatic Tool Co. net
for 9 months ended September &c
was 81 ,509,6 or S295, after reserve
for renegotiation, compared with
81 1882 .806 or $404 year ago.
Brillo Mfg. Co. earned S227,511 OF
$141 in months VS.. $81 1857 or Al
cents in the same 1943 period
International HydrO-Electric Sys-
tenn reported net loss of S573,715 in
9 months ended September 80 VS.
profit of s373,868 year ago.
Philco Corp. declared yearend
dividend of 40 cents common share
payable December 27, bringing 1914
payments to S1.20 VS.. 81 in 1943.
Universal Leaf Tobacco Co. de-
clared a dividend of 81 on common
stock. payable February /, and a
dividend of go on the preferred
payable January 2.
Simplicity Pattern Co. stockhold-
ers will vote December 27 on a pro-
pOSCu StOth VI OllC Slldl VI
new $40 pat 51aTo convertible pre-
ferred stock for leach 5 shares OF
common, payable February Is.
Eversharp, Inc, was permitted tc
resume production at Chicago after
the Fire Prevention Bureau filed Is
complaints charging violation of fire
regulatisns
Los Angeles Railway Corp. was
sold to American City Lines, sub
sidiary of National City Lines, fol
an undisclosed price.
Inland Container Corp. purchased
physical assets of Detroit Paper
Products Corp. and will launch g
plant expansion program.
Northern Indiana Public Service
Co. plan to issue and sell $8,000,00C
of series notes will be heard by the
SEC December IA.
Mississippi Power Co. plan to re-
deem with treasury cash 18,24e
shares of ST preferred at $110 a
share plus dividends will be consid-
cred by the SEC December 15
Elastic Stop Nut Corp. announced
tIldt W1lllaHl r MC0ulIlIl6SS, VICE
president and treasurer, will con-
tlnue as chief executive officer. Nc
successor was named to replace
President William T. Hedland, who
committed suicide.
General Motors Corp. elected
Lewis w. Douglas to the board. He
is president of Mutual Life Insur-
ance Co. of New York.
Wesson Oil & Snowdrift Co. elected
Vice President w. F. Guinee to the
board.
Tyson Bearing Corp. elected Ham,
ilton o. Penn to the board. He is
President of H. o. Penn Machinery
Co.
New Orleans Cotton Exchange
elected D. T. Manget, jr., president.