Evening star., 1945-07-03
Business Briefs

Steel Mill Operations for the cur
rent week were scheduled at oo.I%o
of capacity, indicating production OF
1913. 700, the American Iron q Steel
Institute announced Figures last
week were 91.5es and 1.675, 900 tons;
a month ago, 9l.l% and l,ooo ,oOU' a
year ago. 93.9G, and 1859 200
Securities Marketed Today In
cluded: 10000 shares Of so cumu-
Iative preferred stock of Elliott Co.
at 81 and accrued dividends: 10000
shares of 4eo cumulative preferred
of Burlington Mills at l04 plus ac-
crued dividends
r. ]. Reynolds Tobacco Co. an
nounce it's initial series OF 10000
preferred shares would carry an IN
terest rate of 3.6e6 and would be Of
fered at par OF Sl00.
General Phoenix Corp. registered
with the SEC S1,000,000 Of l2-year
"a convertible subordinated depen-
lures to increase working capital
and retire unconverted SO deben-
lures.
Ferro Enamel Corp. registered with
the SEC 58,264 shares OF 81 par COM
mon stock for expansion purposes
Present holders will be entitled to
buy new share for each 4 held.
Edward G. Budd Mfg. Co. leased
the $21,00O,O0O Bustleton plant in
Northeast Philadelphia from the
Government for civilian production
of streamlined railway cars starting
this fau
Empire Steel Corp. will redeem on
October | all of its first mortgage
So convertible bonds, due 1948.
Stockholders will vote July 81 on a
plan to increase authorized common
from $4,000 to 250,000 shares and
distribute 509t stock dividend Au-
gust 4.
Baltimore e. Ohio Railroad sub
mitted its financial adjustment
plan to Federal court at Baltimore,
It will be acted upon July l0'by a g.
Judge court.
Northern Ordnance, Inc, largest
operator in the Pennsylvania crude
Oil field, sold six large leaseholds
representing about tWo-thirdS of its
holdings, to New York interests in
association with Titusville group.
MonOngahela Power Co. filed with
the SEC a plan to redeem its bonds,
debentures and preferred stock, and
offer S22,000,000 of new first mort
gage bonds and 10000 shares of new
cumulative preferred stock.
Bank of America net for 6 months
ended June 80 was $14,920000 VS..
Sl0,638. 900 in the. same 1914 period
Deposits on June 80 were $4,522,-
533 900, a jump of s755, 10000 in IL
months.
PENNSYLVANIA Railroad invited
bids for the purchase of $l0,290, ,000
of equipment trust certificates to
finance acquisition of new locomo-
tives and cars. Bids will be received
up to July 10.
Chesapeake&& Ohio Railway Co
awarded $500, 600 of serial equip
ment trust certificates to Girard
Trust and Central Penn National
Bank on a, bid of 1oo.o3 for 11a %
coupon. ,a,. sag
First york Corp. and Utility
Equities Corp, two investment com.
panies In the Equity Corp. group, &C.
quired a substantial interest ir
American Foundry Equipment Co
OF Mishawaka, Ind.
An Investment Banking House re.
tanned to give financial advice to {
comsany on sale Of securities M
longer will be permitted to partici
pate IN bidding for the same secur'
tiles, the SEC ruled.
Louisville g. Nashville Railroad
awarded $53.119. 900 of first and re,
funding mortgage 27s9o bonds, Sc
ries @, to Morgan Stanley g. Co
and associates on bid of 97,6
The bonds will be reoffered at 98 u
Solar Aircraft Co. purchased tn,
precision casting division of B. r
Hirsch, Inc, of New York.
Chesapeake G. Potomac Telephon,
Co, earned s240,529 in May VS.
$22e, ,458 year ago. Gross wa
$2,518,778 VS.. $2,397 .698 a year ago.