Evening star., 1944-06-26
Business Briefs

Steel Mill Operations this week
are scheduled at 95.7%o of capacity,
indicating production of 1,714,3
net tons, reported the American
Iron g. Steel Institute. Figures for
last week we're 973qo and 1,742 300
tons; for month ago, 97.5To and
1,746,500 and for year ago, 90.3%
and 1,563,7o0.
United Cigar Whelan Stores
Corp. declared a dividend of $l25
on the SIS preferred, in arrears, pay
able August to holders of record
July 10. The same amount was
paid last May l. After payments,
arrears will total S25 a share. An
initial dividend of 80 cents also was
declared on the new $125 pre-
ferred, payable on the same date.
Columbia Pictures Corp. regis
tered with the SEC 1880 shares of
no par value common and 1880 pur-
of no par value common. Proceeds
will be added to working capital.
Cosden Petroleum Corp. net for
IL months ended April 80 was SAIL
959 or 1886 a preferred share, COM
pared with S298,632 or 81 a pre-
ferred share in the preceding year
Pan American Airways earned
$l,929, ,764 or 81 cents share in 1943
compared with $3,7800l5 or $195 in
1912 Gross was S126,000, 900, Jump
of Sic, ,500,0 900. In the annual report,
President j. T. Trippe reiterated his
stand that all American air opera
tions outside of the country after
the war should be handled by one
big company able to compete with
monopolies created by other major
nations.
New York Central reported net
income for five months ended May
81 was S14,906,858 or S231 a share
VS.. S26,675,773 or s4.l4 in the same
l943 period
Illinois Central Railroad net for
five months ended May 81 was So
$40 563 or S6.l6 share VS.. Sl2250,-
289 or $3.50 in the same period last
year
Wheeling & Lake Erie Railway
net for five months ended May 81
was 81 ,l80,679 or 1924 a share. COM
pared with 81 1854 $50 or $277 a year
ago.
Lehigh Coal & Navigation Co. re-
duced its funded debt more than
S2iD00,000 in the first four months
of this year. Coal production was
17ro above a year ago.
Arkansas Power & Light Co.
properties were valued at SAT ,900,-
600 and 6Gt was adopted as a fair
rate Of return by the Arkansas
Utilities Commission. If the ruling
lS@upheld, company revenues must
be cut s975,000 a year.
Niagara Falls Power Co. has
agreed to cut its rates 81 100000 a
year, the New York Public Service
Commission announced. Retroac-
tive to January /, 1943, the reduc-
ton refunds of about ST 100000 to
Buffalo war plants.
Standard Gas & Electric Co. anc
officials of the city of Louisville are
negotiating for municipal purchase
of the utility plant in that city
City officials did not indicate what
they were willing to pay for the
properties, but assets total arounc
S94,000,00O
United States Rubber Co. has es-
tahiished new manufacturing facili-
ties in seven cities and is expanding
facilities in of its 38 plants to meet
increased war demands. New plants
have been opened at Scotville, Va.
Lowell, Mass; Ligonier, Inc. Wor.
cester, Mass: Manchester, N. H.
Grand Rapids, Mich, and Beacor
Falls, Conn.
New York, Chicago & st. Loui
Railroad asked ICC authority t.
issue S2,l00,000 trust certificates t.
help finance purchase of new equip
nent to cost $2,684 POT. They woult
be sold at competitive bidding ant
have par value of 81 900 each
National Enameling e. Stampin,
Cn. named James F. Howard and E
J.@Gardner vice presidents.