Evening star., 1946-06-05
Business Briefs


issuance of 213,287 shares of new
Al per cent preferred stock to be
offered share for share to holders
of present outstanding per cent
preferred.
City Stores Co. in quarter ended
April 80 earned 81, ,28' ,642 or 80 cents
a share on common and Glass A,
compared with S560,222 or IS cents
a share in comparable quarter last
year.
Edison Electric Institute in New
York. reported distribution of g.
741.256,O6O kilowatt hours of electrical
energy in the week ended June l.
compared with 3,941 1865 900 in the
preceding week and 1908 ,502 900 in
the week a year ago. For the coun-
try as a whole the distribution was
II per cent below that of year ago.
Virginia Electric e. Power Co.,
Richmond, Va, has asked the SEC
to approve its proposal to issue S.
100000 of notes to banks. Appli-
cation said the notes would replace
old notes. Total of the new notes
would exceed the old ones by ST.
305 900 and this money would be
used principally in $4,000, 900
constitution program.
Frank ]. Knell. who headed the
New York Cotton Exchange in 1888
1910, has again been elected presi-
dent. to succeed William H. Koar.
Census Bureau reported rises of
S31 100000 in imports from Latin
America and S71 ,000, 900 in exports
to Europe were chiefly responsible
for an increase in American for
eign trade during March.
c. r. Cox, president of the Ma
tional Tube Co., reported the COM
pany had bought for Salts 900 a
portion of the Governments tube
manufacturing facilities installed
during the war in the Tubular Alloy
Steel Corp. plant at Gary, Ind.
Bendix Aviation Corp. will require
for its peacetime operations nearly
twice the manufacturing space util-
lied in prewar years. Ernest r.
Breech, president. announced. The
corporation expects to own or have
under lease by September 30. 1916,
4,278.703 square feet of space, COM
pared with 2,183, 129 as of December
81. 1893.
Morgan Stanley Co. heads group
offering $1,000 900 of Socony-Vac-
uum Oil Co., Inc, 21a per cent de-
bentures Of 1876, at 1902 and priced
to yield 2.476 per cent to maturity.
Henry Ford I'd announced plans
for construction of q research and
engineering center at Dearborn
Mich, estimated to cost $50, 900 600
Project will take eight years to
complete.
The United States has replaced
Britain as Australia's best wool
customer. In the first nine months
of the current financial year from
July l to March 81, United States
bought 924,625 bales, worth $780,
$4,000. according to official figures
released in Canberra. Britain's
purchases in the same period were
694, 1856 bales, worth $50,620,000.
RFC will pay $129,500 in subsid-
les this month on 1880 tons OF
sheet bars-semi finished steel
to keep five small rolling mills in
operation. Off1cials said RFC is
paying the Jones and Laughlin Steel
Corp. $45.S4 ton at Pittsburgh and
reselling to the five mills at ceiling
prices of $38 at delivery points. RFC
reported the transaction. which
cost 1t $1034 ton including
freight, was ordered by the Civilian
Production Administration.
Reynolds Pen Co., Chicago, flleo
q registration statement with SEC
for 400, ZOO shares of no-par value
common stock. The company will
use its share Of proceeds for work.
ing capital.