Evening star., 1945-06-25
Business Briefs

Steel Mill Operations for the cur
rent week were scheduled at el.5G
OF capacity, indicating production of
1878 300 tons, the American Iron
and Steel Institute announced. Fig
ures last week were 1850 and l.
626 500 tons; month ago. 9leo and
.6o6 800; a year ago. 95.7eo and L..
71430O.
Washington Living Costs rose 90
between mid-April and mid-Mav
the Bureau of Labor Statistics re-
ported. Its general index on Nav
ID was 1874, based on the 1s35-3e
average, and was 2aeo above a yea1
earlier. The food index of 1897 was
l.4ee above month earlier anc
%.2eo above a year earlier.
General Mills, Inc, stockholder;
will vote August 81 on a plan t.
split common stock for l and issu,
100, 900 shares of new 500 par pre-
ferred stock next fall to financ
postwar expansion. The new pre-
ferred would be offered first to com
mon holders.
e. r. Squibb & Sons stockholder
authorized 10000 new shares of S.
cumulative preferred stock, of which
% ,906 will be offered in exchange fol
present serial preferred on a share.
for-Share basis. UneXchanged neV
shares and the remaining 81 ,094 will
be offered publicly. UneXchangec
old shares will be redeemed August
at l071a plus dividends.
Hamilton Watch Co. stockholders
approved plan to call 2,799 6Gs
preferred shares at los and divi.
dends, and to sell to common stock.
holders $4,000 shares of $1o0 pal
value 80 convertible preferred.
Champion Paper & Fibre Co. reg.
istered with the SEC sl3 900 of 81
debentures and 100000 shares of no.
par value cumulative preferred. De-
benture proceeds will be used to re-
tire 3a4To FIRST mortgage bonds and
234% notes. The new preferred will
be exchanged for present preferred
shares.
Hotel Annapolis, 400-room Wash.
ington establishment, was sold by
Manger Hotel Corp. to Tishman
Realty & Construction Co. of New
York, announced President David
Tishman OF the latter firm.
Detroit Edison Co. earned S..
273 ,223 or 81 share in IL months
ended May 81 VS.. $3,567, ,566 or $l.3;
In the previous year.
Denver & Rio Grande Western
Railroad Co. reported 1914 operating
revenues set a new record of So.
346,9s7 VS.. s70,194,002 in 1s43. but
net income sank to s2.505, ,572 VS.
s5,e07,760 in 1s43.
Austin, Nichols & Co. net for II
months ended April 80 was $514,212
or $1S.21 on prior A stock VS.. 1854, ,73s
or s22.48 on prior A in the preceding
fiscal period.
Grief Bros. Cooperate Corp
earned $I76,961 or $2.76 on class A
shares in s months ended April 80
VS.. $326, ,456 or $50 a year earlier.
Safeway Stores, Inc, sale for 4
weeks ended June 16 totaled $49, $780,
0s1, drop of $3.50 from a year ago;
for "A weeks ended the same date,
$292, ,304 1923, a decline of SO.
Erie Railroad invited banks and
insurance companies to enter bids
by June % on 81 800, 900 Of notes
to finance S0% Of the cost Of 500 all
steel boxcars.
Philadelphia : Reading Coal Co
registered with the SEC 412,59t
shares Of 81 par common stock &C.
companied by warrants entitlint
present common holders to subscrib,
for 4 new common share for each II
shares now held.
Commonwealth Utilities Corr
plan to sell its interest in Arizons
Electric Corp. to James p. Tucker
president of Arizona Electric, wa.
approved by the SEC.
Radio Corp. Of America create
the RCA tube division to take owe
all tube activities of the compan,
viii headquarters at Harrison, N. J.
General Tire & Rubber Co. an
nounced that Max M. Gilman, for
naer president OF Packard Moto
had Joined its staff and would stud
postwar possibilities for new prod
Mcts
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