Evening star., 1945-09-25
Business Briefs

during the war and will increase
another $50 in the predictable flu
ture, declared w S. Landes, presl-
dent of the Plastics Materials Manu-
facturers' Association.
American Rolling Mill Co. and
Rustless Iron & Steel Corp. direc-
tors authorized officers of the 2
companies to prepare merger
agreement. Rustless stock would be
exchanged for Armco stock on a
share for share basis. The Rust
less plant at Baltimore would be
operated as division of Armco.
Northern Natural Gas Co. reg
istered with the SEC S25 900, 900 OF
serial debentures, due 1850 to 1865
for refunding and expansion pur-
poses.
F. L. Jacobs Co. registered with
the SEC 10000 common shares to be
offered publicly by President Rex C
Jacobs and other officers.
United States Potash Co. regis
tered with the SEC $4,000 common
shares, all of which are owned bene-
ficially by Borax Consolidated, Ltd
They will be offered publicly.
Florida Power Corp. will offer
$4,000 shares of $3.50 par value
common stock publicly before the
end of October to finance retirement
of bank loans and expand power
facilities.
Western Maryland Railroad in
vited bids by october on $500. 900
of collateral trust bonds to finance
ratirement of 512rG bonds.
PENNSYLVANIA. Ohio & Detroit Rail-
rAad asked ICC permission to issue
M,602,000 of first and refunding
Mortgage series E bonds for refund
iNg purposes.
Erie Railroad asked ICC authority
to issue S4088,000 of promissory
notes to help finance purchase of
no boXcarS, 600 gondolas and 100
hopper cars.
missouri Kansas Texas Railroad
e1ected R. J. Morfa chairman of the
board and a director to succeed
Lewis E. PierSon, who has served as
chairman and acting president since
the death of Matthew Sloan last
June. Mr.. Morfa has been assistant
to Robert r. Young, chairman of
tDe chesapeake & ONO.
A. P. w. Products Co. stockholders
will vote October II on a plan to
extend the maturity date of first
mortgage So bonds of 1948 to 1866
and increase authorized common
stock from 353, 1000 shares to 9O.000.
Aviation Corp. stockholders will
vote October 18 on issuance of 50O,-
900 new preferred shares and an in
crease in authorized capital stock
to 100000 shares.
Gar Wood Industries, Inc, stock
holders will vote late in October on
issuance of 10000 shares of new
cumulative convertible preferred
stock and a 00,000-share increase
Unauthorized common.
Yicks Chemical Co. earned So
737661 or S4.03 a share in II months
ended June 80 VS.. $2,460,916 or $3.
inethe previous year.
pennsylvania Salt Mfg. Co. profit
forel2 months ended June 80 was
81 FL ,022 or $192 VS.. S1,454.931 or
$1.2t in the preceding fiscal year.
Zenith Radio Corn. earned $685.
336 or S2.02 in months ended july
81 VS.. 81 1,066, ,278 or $2.l6 a year ago.
Pennsylvania Power g. Light Co.
net for IL months ended July 81 was
s5,261 ,596 VS.. S5,607 500 in the pre-
ceding fiscal period
Ell Paso Natural Gas Co. and SUBJ
sidiaries earned $2,181, ,681 or S3.45 in
II months ended July 81 VS.. So, 1885,
648 or S3.79 in the previous year.
Francisco Sugar Co. profit for IL
months ended June 30 was $257, ,598
or "a cents VS.. 81 ,584, ,904 or S4.52 in
the preceding fiscal year.
Wisconsin Motor Corp, a SubSidi-
AIRY OF Continental Motors Corp, has
a record peacetime backlog of un-
filled orders exceeding SIT ,000, 900,
and will spend $500,000 for expan-
strm-