Evening star., 1944-09-25
Business Briefs

Steel Mill Operations for the cur
rent week are scheduled at 951o, of
capacity, indicating production of
17l0,700 tons, the American Iron g.
Steel Institute reported. Figures
last week were 95.3oc and l.7l4.3OO
tons, a month ago, 967', and 1,739.-
300, and year ago 1908, and
1,756, 900.
Safeguards for Postwar Invest
ments Will be discussed by the SEC
With invited representative of
stock exchanges and investment and
securities organizations at a con-
ference III Philadelphia October 3.
Lumber Production in July totaled
2843, ,765.0Oo board feet. drop of
o. r from the previous month and
9.b Below a year ago, the WPB an
nounCed. Production for 7 months
totaled 1898 082 900 board feet. a
decline of Is from a year ago.
Glen Alden Coal Co. will retire
S24, $4,000 first mortgage a. bonds
on December l. Part OF the funds
will be raised by sale of 10-year
serial bank notes.
Ohio Edison Co. received high bids
from Morgan Stanley & Co for $50
$4,000 bonds and 10000 shares of
preferred. Bid for the bonds was
l0l All on Sc basis; for the shares
lO0Tl1 with an interest rate of A..
Birmingham Electric Co. received
a high bid from Smith. Barney &
Co. for Sl0,0O0OO0 first mortgage
bonds. BID was 10O.l3 on 81
basis.
Great Northern Railway Co. was
authorized by the ICC to issue up
10 Sl00000,000 of general mortgage
gold bonds for redemption purposes.
Arkansas Power 4 Light Co. plan
to sell S30000000 of first mortgage
bonds fol- refundlng purposes was
approved by the SEC, subject to
competitive bidding requirements.
General Electric Co. has signed
contract with Defense Plant Corp,
for additional plant facilities at
GE Will operate the facilities but
DPC will retain title.
United Light & Power Co. is ne
gotiating for purchase of St. Joseph
Mo- Railway, Light, Heat &
Power Co, a subsidiary of Cities
Service Power & Light Co.
Pet Milk Co. earned S63S, SGT or
Sl3l a share in the June quarter
VS. S506272 or Sl07 in the same
l943 period.
American Sumatra Tobacco Corp.
profit for u months ended July 81
was S588524 or S306 share VS..
S60T l84 or So l6 in the previous
fiscal wear.
Motor Wheel Corp. net for IL
months ended June 80 was S1,97l GIL
or s233 vs.. 81 1868 .224 or 1921 in
preceding period
Universal Leaf Tobacco Co. earned
$l474 $50 or S683 a share in II
months ended June 80, compared
with 81 4OS,32l or $638 in the pre-
vious year.
Union Pacific Railroad system re-
ported net income of $24 .438 .282 or
1882 a share in s months ended
August 81 vs.. $30627, ,69l or Sl2.58
in the same l943 period
American Can Co. will construct a
S6 500 600 plant at st. Paul as soon
As war restrictions end and labor
and materials are available. A 40
acre site has been acquired.
Tide Water Power Co. plan for
recapitalizati ton will be considered at
a consolidated SEC hearing Octo-
Der TO-
Piper Aircraft Co. declared an
initial dividend of 1912 cents COM
mon share. payable october 25 to
holders of record October 10.
Pittsburgh Plate Glass Co. recalled
Clarence NJ Brown, Philadelphia
attorney, as board chairman to sue
ceed the late H. S. Wherrett. Mr.
Brown served AS chairman from
1881 until last January.
Pan American World Airways ap-
pointed s. J. Roll foreign trade
counselor.