Evening star., 1944-02-09
Business Briefs

Electric Power Production in the
week ended February 5 rose to A.
524 10000 kilowatt hours, compared
with 4,523, 100000 in the preceding
week. and was 142fc above $780,
242,O00 in the like l943 period. the
Edison Electric Institute disclosed.
A Sharp Rise in Steel Capacity
during the last half of 1943 was re-
ported by the American Iron & Steel
Institute. Annual capacity at the
start of 1914 was rated at 93,65200
tons, an increase of 2,771 900 in six
months and 100000 above jan
uary l, 1940
Southern Pacific Railroad will re-
tain control of the St. Louis-South-
western Railroad under ICC reor-
ganization plan approved by Fed
eral Judge George H. Moore in St.
Louis. Equities of common and pre-
ferred holders would be wiped out,
but Southern Pacific would remain
in the picture through ownership
of s23,000,000 of Cotton Belt bonds
Ware Shoals Mfg. Co. registered
with the SEC 10000 shares of SO
500 par value cumulative preferred
stock to be offered to common stock
holders on the basis of one share for
each five presently held. Proceeds
will be used with other funds to re-
tire II preferred at $l05 a share
plus dividends.
Milwaukee Electric Railway plan
% to redeem on March l 100000 of
first mortgage AZ bonds and pur-
chased for cash at par value 5000
shares of its capital stock, totaling
100000, was approved by the SEC.
Both lots of securities are owned by
Milwaukee's parent, Wisconsin
Electric Power Co.
Oklahoma Natural Gas Co. regis
tered with the SEC S18,000,000 Of
first mortgage bonds, due 1861, and
10000 shares of series A $50 par
value cumulative preferred stock
for refinancing purposes.
Ward Baking Co. earned S1,623.-
285 or $685. preferred share in
l943. compared with $1,241,333 or
S485 a preferred share in 1912.
Sales set a new record of $40 ,546, 800
against s43,898,514 in 1912.
New York Telephone Co. net for
1e43 was 3l,700,547 against S25,-
358,504 in 1912. Revenues totaled
s255,5l8,295 against $236,832 ,8O2 in
the previous year.
Missouri Pacific Railroad reported
1943 net of $16,591,415 against $780,
649,668 in 1912. December brought
net loss of s2.445, ,0S6 against net
income of $3,2O7,l29 in December
1912.
National Steel Corp. earned SILL
693,36l or $3.50 a share in 1884, COM
pared with Sl1 l1,929,867 or $5.4l q
share on smaller number of shares
i'll 1912. Net for the last quarter was
SG,279, 1886 against S3,664, ,70l in the
same 1912 period
Simonds Saw & Steel Co. declared
a dividend of 40 cents a share, pay
able March Is to holders of RECORD
February l9. On November 2, l943
-" PoS 4iiSAlo Va w CCllOo WAC QCIldI Gu
Walgren Co. sales in January We're
$9,2l6,167, against $8,638,2l7 a yeal
ago, a gain of 6.7fe.
Spiegel, Inc, reported January
sales of sl,l59,023 against 81, ,402, ,7lt
year ago, decline of l74oo.
Seaboard Airline Railway re-
organization managers were author.
lied by Federal Court at Baltimore
to acquire $l,750,O00 of Georgia
Florida and Alabama Railroad
bonds. Tenders already have beer
received for 1888 900 of the bond.
at $3.50 per $1,000 bond.
Pennsylvania Central Airlines ap.
pointed Harold A. Olsen assistant t
Vice President j. j. ODonovan, with
hi 3dQuarters in Washington. Mr.
Oxen has been district trafiic man.
aser 1t Detroit.