Evening star., 1945-06-28
Business Briefs

Ddhh SlCdi LlSS III q lcdulllS C1ttcS
declined to S12,720,654,000 in the
week ended June 27. compared with
the previous weeks 16-year record
of $15.061 AS 900, but remained
slightly ahead of $12,679, ,047 900 in
4 the like 1914 week, reported Dun &
Bradstreet, Inc.
Freight Loadings in the week
ended June % totaled BIG, ,442 cars,
drop of 40 from the previous
week, but SO from year ago, the
Association of American Railroads
announced.
General Motors Corp. plans a
gradual downward revision of pro-
duction schedules at it's Fisher Body
division plant at Grand Blanc
Mich, to meet $211 100000 cutback
in orders for General Pershins
tanks. The contract is to be termi-
mated in April, 1916.
Puget Sound Power g. Light Co
transfer to public ownership, along
with Washington Water Power Co.
was reported the subject of nego.
tiations in New York. Guy C
Myers, who helped negotiate sale ol
Nebraska Power by American Pow.
er last December, was understood
to be the central figure in the pro-
posed Puget Sound deal.
Burlington Mills Corp. stock
holders authorized 200 900 shares OF
new cumulative preferred stock, OF
which 100000 already have been
registered with the SEC. Proceeds
will be used to retire present pre-
ferred and $8,000,000 of bonds.
Pennsylvania Electric Co. sales of
gas properties serving Johnstown,
Pa, to Peoples Natural Gas Co. was
approved by the SEC.
Net York State Electric g. Gas
Corp. registered with the SEC s1O,-
100000 OF first mortgage bonds and
10000 shares of s100 par value
cumulative preferred stock to be
sold at competitive bidding.
Public Service Co. of Indiana filed
plan with the SEC to sell it's
water and gas properties and re-
finance bonded debt. 1t would is
sue $48 100000 of series F bonds,
S13 100000 of notes and 10000 pre-
ferred shares,
Johns-Manville Corp. stockholders
will vote July II on a plan to issue
10000 shares of 31a% cumulative
convertible preferred and increase
the common from 1,000, 900 to 1,500,-
COO shares.
Armstrong Cork Co. stockholders
will vote September on proposed
authorization of CSC, 600 shares of new
cumulative preferred stock, of which
161 ,522 would be issued initially. in
cluding 52,994 to refund present 40
preferred shares and 108,528 to raise
$11 900 900 Of new capital.
Portland (Oreg.) General Electric
Co. invited bids up to noon July 6
for purchase of $34, 100000 of first
mortgage bonds for refunding pur.
poses. ....
Pennroad Corp. was granted an
SEC exemption from provisions o1
the Holding Company Act. for its
proposed purchase of So, 400 common
shares of Wheeling & Lake Erie
Railroad at 73h.
Babcock & Wilson Co. declared q
dividend of so cents a share, pay
able July 81. Previous payment was
Is cents In April.
United States Industrial Chem
icals. Inc, declared an extra of rs
cents and regularly quarterly div
idend of Is cents a common share
both payable August, /.
Dresser Industries, Inc, earned
$1,525,370 or $1.44 a share in six
months ended April 80 VS.. 81 ,066, OF
or $3.18 on fewer shares a year
earlier.
Whiting Corp. stockholders voted
to split capital stock for and In
crease authorized shares to 600 600
A dividend Of S cents and an extra
of cents were declared on splitur
stock, payable July Is. Gen. Thoma.
S. Hammond was elected chairman
and Stevens II. Hammond to sue.
eeed him as president.