Evening star. [volume] (Washington, D.C.) 1854-1972, 1945-12-11
Business Briefs
Steel Mill Operations for the

Steel Mill Operations for the cur.
rent week were scheduled at 829T
of capacity, indicating production
of 1918, 400 tons, the American IroI
81 Steel Institute announced. Fig.
ures last week we're 828% and Isle,
600 tons; a month ago, 80.4%o ane
1.472,600: year ago, $685. ane
1,743 200.
Iron Ore Shipments from uppe
lake ports totaled 75,7l4,750 groS
tons for the 1945 season, declin
of 5,455, 1888 from last year, the LAX
Superior Irov Ore Association re
ported. December shipments to
tailed II 035 tons VS.. none a year age
Stock Exchange Membership soil
for sos 900, highest price since May
1887. Earlier today, another sol'
for S93, 900, up $4,000 from the pre-
vious sale. The current quotation
was $4,000 bid and SGT 900 asked.
Buffalo, Niagara Electric Corp. re
ceived a high bid of 1016799 TO
S56, $685. 900 of "a bonds from Nor
gan Stanley g. Co. and associates
Reoffering was planned at 1920
and interest.
Phillips Petroleum Corp. presi
dent, K. S. Adams, exercised an op
ton for 673,378 common shares O
Shamrock Oil & Gas Corp. at 1874
resold 1863 1903 to Phillips at the same
price and a part of the remainder
to small group of investors. j. H
Dunn of Amarillo was elected presi
dent of Shamrock to succeed H. c
Fownes, who is retiring after dis
posing of his stock interest. :,
Pacific Mills stockholders will vots
in March on a proposed 2-for-l
splitup of its 1896, 1923 shares Of capt.
tai stock.
Dayton Rubber Mfg. Co. stock.
holders will vote January 3 on q
plan to split the common 2 for l.
Victor Chemical Works signed ar
underwriting agreement with F
Eberstadt g. Co. covering sale oil
10000 preferred shares, 500 pal
value, to finance expansion. Public
offering is expected next month
Mellon Securities Corp. and Firs
Boston Corp. were reported plan
ming to make a secondary distribu
ton of 130,968 shares of Virginial
Railway common in the next few
days
Budd Wheel Co. obtained an un
secured % % 7-year loan of $4,000,
600 from S Philadelphia and 2 De
troit banks to finance expansion o
production to $50,000,00 annually
compared with prewar annua
average of 100000.
Sterchi Bros. Stores, Inc, will re
deem all first and second preferred
shares on January Is at $55 ant
$40 share. respectively, plus divi
dends.
Fansteel MetaIlurgicaI Corp of
fered common holders rights to pur
chase $4,000 common shares at Sc
a share on the basis of new shar'
for each held at the close of bust
ness December Is.
Wilson g. Co. announced tina
through December IT, holders of Sc
preferred stock can exchange thei
holdings for new 40 preferred OF
a share-for-sh basis plus IS cent
a share cash, or for common at tn,
rate OF 51a common shares for eacl
preferred share.
Hilton Hotel Chain purchased the
Palmer House in Chicago for arounc
b2e,000,000 and the Ambassador al
los Angeles for 5000 900, expand.
Ing holdings to IA hotels in II cities
j. C. Penney Co. sales in Novem.
Der totaled $56, 034,925, a decline Of
1870 from year ago; in II months
t476, 187 ,204, an increase OF 2.3%.
Bond Stores. Inc. sales for No
sember totaled $4,878.870. a drop q
s.1% from year ago; for IL month.
80, Dos ,069, decline of 4.2To.
Western Union Telegraph Co
profit for 10 months ended Octobe1
81 was $6,255 1884 VS.. 5000 800 in tn,
Asams 1914 period.