Evening star., 1946-11-12
Business Briefs

Steel Mill Operations for the cur
rent week were scheduled at 91.2%
of capacity, highest rate in nearly
: l8 months, and Indicated production
of 1,607 800 tons-American Iron 81
Steel Institute. Figures last week
were st.f 70 and ,o05 500 tons.
Domestic Copper Price was raised
TO 17h cents pound by Kennecott
Copper Corp, leading United States
producer. This was an advance Of
31s cents a pound over the now
abolished OPA ceiling price.
General Electric Co. arranged to
borrow $3.50 600 600 from IA investors,
including II insurance companies
and 3 trustees. on 20-year promis-
sorry notes. An additional $50, ,000,-
900 will be acquired from banks ON
q straight 5-year loan agreement.
Half of the $500, 900 900 will be used
to repay short-term bank loans and
the remainder to continue q $780,
000, 900 expansion program.
United States Plywood Corp.
board approved 2-for-1 split in
common stock. Additional shares
will be distributed for each share
held December 20. President OF
finger recommended continuance of
the present annual dividend rate Of
80 cents a share, thereby doubling
the amount.
Sterchi Bros. Stores declared an
extra dividend of IS cents, payable
December IL, along with the regu-
lar dividend previously declared. A
special dividend of rs cents also was
declared, payable January II.
j. j. Newberry Co. declared an
extra of Is cents and a regular
quarterly of IS cents, both payable
December 10. Previous quarterly
payments were rs cents.
Tri-Continenta1 Corp. declared a
dividend of 80 cents, payable De-
cember "a. The firm paid 20 cents
in December, 1945.
Bendix Home Appliances, Inc, de-
clared dividend of so cents COM
mon share, payable December Is. 1t
is the first dividend since an initial
payment of 10 cents in July, 1912.
Coca-Cola Co. profit for the Sep
tember quarter was $7,444,110 or
$1.70 common share VS.. $7,642, 2,651
or SITS in the same l945 period.
Monsanto Chemical Co. earned $6,-
987,663 or $163in nine months ended
September 80, exclusive of British
and Australian subsidiaries, VS.. $4,-
l01 ,205 or 81 cents a year ago.
New Jersey Zinc Co. profit for nine
months ended September 80 was S.
434,0l0 or SITS VS.. $3,75S,212 or 81 90
In the same 1945 period. Profit for
the September quarter was $1,102,-
o42 VS.. $1.083 ,255.
American Investment Co. of Illi-
nois reported net income of $l,127,-
767 or SO cents a common share in
nine months ended September so VS..
1854, ,6S2 or 43 cents in the same
1945 period.
Colonial Stores, Inc, sales in four
weeks ended October 26 totaled
s9,847 ,909, a gain of 1857 from a
year ago; in 43 weeks ended the
same date. S99. .43l,677, an increase
of 28Te.
United States Steel Corp. re-
ported brokers holdings of its COM
mon stock amounted to 876,692
shares on September 80, a drop Of
28,159 during the third quarter.
Foreign holdings declined 2,603
shares to 459,955 on September 80
United Air Lines reported cargo
ton-miles In October totaled 1885,
oil, a rise of $50 from the preced-
ing month and 245% above year
ago. The total included 692,681 tom
miles of air express and 643,330 Of
air freight.
gSt6nolind Pipe Line Co. an
ncsx1red construction program to
incfSsse the capacity of its trunk
lines md extend facilities to new
areas.