Evening star., 1944-06-12
Business Briefs

Steel Mill Operations in the cur
rent week will be at 97.l% of capac-
ity, indicating production OF 1889 800
tons, the American Iron & Steel
Institute estimated. Figures last
week were: 97.8qo and LISA 800 tons;
a month ago, 99.2% and Tito, 900
and a year ago, 97.81o and 1888 500.
Corporation Profits may turn
down this year, but the outlook for
stockholder payments is good and
dividends should aggregate 81, ,300,-
100000 against loo, ,000, 900 in 1943,
the Treasury Department predicted.
The forecast on profits was for de-
cline to $500, ,000, 900, off 81 900 ,000,-
600 from 1943.
Short Interest on the New York
Stock Exchange as of May 81 totaled
1,181, ,293 shares, compared with l.
090,581 on April 80.
Utility Earnings in 1943 improved
to cover interest $40 times and pre-
ferred dividends 181 times on aver
age, compared with 287 times in
terest and Ito times preferred re-
quirements in 1943, the SEC dis
closed.
United States Steel Corp. reported
shipments of finished steel products
by subsidies in May amounted to
1,776,934 tons, compared with 1885,
1877 in the previous month and ], ,706,-
543 in May, 1943. Five months ship
ments were $685. ,085 VS.. 8,487 1853 a
year ago.
Standard Oil Co. New Jersey
directors elected Eugene Holman
president to succeed Ralph w. Gal
lagher, who was made chairman of
the board. Mr.. Holman has been a
vice president since 1882. Frank w
Abrams, director, was elected vice
president.
Coca Cola Co. directors proposed
an increase in authorized common
from 100000 to 100000 no par
shares. About $4,000 would be used
to acquire La Sale Securities, Inc,
which controls "a Midwestern firms
engaged in bottling and distributing
Coca Cola. Stockholders will vote
August S.
Reynolds Spring Co. earned $780,
294 or 81 cents a share, before re-
negotiation, in six months ended
March 81, compared with $189, ,464
or IS cents in the same period year
ago.
Gar Wood Industries and subsid-
iaries, excluding the Canadian unit,
earned $620,742 or 62 cents a share
in six months ended April 80, COM
pared with S396,446. or As cents in
the same period last year.
of voting certificates representing
6,784 shares of National Food Prod
ucts Corp. cumulative class A stock
to that corporation was approved by
the SEC.
Bendix HeIicopter, Inc, Is a new
company formed by Vincent Bendi1
and associates. The firm is an out
growth of Helicopters, Inc, and ha.
no connection with Bendix Aviation
Corp.
United States Sugar Corp. has en-.
tered into joint venture agreement
with Newport Industries, Inc, fol
production and processing of ramie
natural fiber grown in Florida.
New York Central System viii
place In experimental operation thil
week two diesel freight locomotive,
of 5,400 horsepower as part of it!
program of experimentation will
various types of motive power.
Investment Registry of America
Inc, will face charges of violatin.
the SEC Act of 1884 and the Invest
ment Advisers Act of 1910 at al
SEC hearing in the New York re
gional Office June 20.
American Brake Shoe Co., ap
pointed Stuart F. Brown director O
exports to succeed John w. De Lind
Ir.. who is now export manager O
Crosley Corp.
Tubize Rayon Corp. board chair
man, Rufus w. Scott, sold 1856!
shares of company stock, his entir
direct and indirect holdings, tn
SEC revealed.