Evening star., 1945-06-11
Business Briefs
Adversely Affected hy Cutbacks,

AufcESeiS AucCtcu ny SutDdChSsI
income payments to- individuals in
April suffered the sharpest month
to-nonth drop in years, the Com
merce Department estimated. The
total of $13,180,o0O,o 900 was 4% be-
low the preceding month, but still
SO above year earlier.
United States Steel Corp. reported
subsidiaries in May shipped 1,797,-
987 net tons of finished steel prod
ucts VS.. 1,722,o45 in the previous
month and l,776,934 a year ago. For
5 months, shipments totaled 8,522,-
OFT VS.. 1896, ,085 a year earlier.
Briggs Mfg. Co. stockholders were
told $10,000000 will be spent for re-
conversion and new machinery. War
production to date has totaled $685.
100000.
Austin Motor Co. announced in
London its plans to export $16,000,-
900 worth of automobiles before the
end of 1945 if shipping space is
available Most of the cars will go
to Canada, Australia, New Zealand,
South Africa and India.
Pennsylvania Central Airlines
plans for routes between Washing
ton and Memphis, Birmingham and
Mobile, and Charleston, w. Va, and
Jacksonville, Fla, were presented
by President c. Bedell Munro before
the Southeastern Civil Aeronautics
Board at Greensboro, N. G.
Pan-American Airways Corp. reg
istered with the SEC 3,s86,522 shares
of $3.50 par value capital stock to
be offered present stockholders at
I8. One new share and a purchase
warrant enabling the holder to buy
a second share by the end of 1947
will be offered for each present
share.
Hamilton Watch Co. registered
with the SEC $3,500,00 of new 40
convertible preferred shares to be
offered common holders at the rate
of one for each eleven shares held.
The SO preferred will be retired
at 105
Reynolds Spring Co. earned s184,-
994 or 81 cents share in six mopths
ended March 81 VS.. s186,294 or 64
cents a year ago.
Puget Sound Pulp g. Lumber Co.
net for IL months ended April 80
was $4,832 ,608 VS.. s5,451 ,507 in the
preceding fiscal period.
Air Associates, Inc. profit for six
months ended March 81 was STA, ,792
or IS cents VS.. $259,512 or $192 a
year ago.
Cleveland Trust Co. estimated
earnings for the first 1945 quarter
were $19.22 a share VS.. $7.86 a year
aoo Tha inorooeo ~, fhc ear,{ao
nual dividend from $3.50 to So re-
flected the larger profit.
Ferror Enamel Corp. sales for
May exceeded $1,200000, a new
monthly record. War work is in
creasing despite cutbacks in some
contracts. Production of peacetime
products also Is rising.
Noma Electric Corp. sales for May
totaled $826.4so VS.. s752,189 a year
ago; for five months, 1881 ,037 VS..
S3,032, ,037 a year ago.
Canada Dry Ginger Ale, Inc., pur.
chased plants and distribution IA
cilities of its former licensees,
Canada Dry Bottling Co. of Char
lotte, N. c., and Canada Dry Bot
ting Co. Of New Orleans.
Atlas Powder Co. appropriated
$400, 900 for new units at its research
laboratory near Wilmington, Del.
Southern Natural Gas Co. asked
SEC permission to purchase on the
open market between now and De-
cember 81 up to 35,372 shares of the
common stock of Birmingham Gas
Co.
Allis Chalmers Mfg. Co. was noti-
fed its production of turbosuper-
chargers will be terminated June 80
Between 1,400 and 1900 workers will
be affected.
United Corp. amended plan tc
offer shares OF Delaware Power &
Light Co. common and Sc cash In
exchange for each of 1855 shares
OF its own preference shares was an.
proved by the SEC.