Evening star., 1946-04-10
Business Briefs
Steel Ingot Rate, down 9 poir

Steel Ingot Rate, down 9 points
this week, will take another sharp
dip next week, Iron Age predicts
Steel industry looks for long shut
down in coal mines United States
ingot rate dropped to 79 per cent
OF capacity from last weeks re-
vised rate of 88 per cent.
General Electric Corp. orders dur
ing first quarter totaled SHIFTS, ,00O
down 70 per cent from 1895, ,466, ,00O
in 1915. 1t was enormously report
ed by the Associated Press on April
that f1rst-quarter sales this year
totaled s11,775,00O.
Chrysler Corp. has extended until
March 2, 1851, the S1O0,000,000 re-
volving credit set up with depository
banks. This credit, established
March 2, 1912, was to run until
March 2. 1947.
Gaylord Container Corp. stock
holders, will vote May on splitting
common stock three-fCr-one Stock
will be increased from 975 900 shares
to 2,925000 and shares reduced from
IS to $685..
Corning Glass Works elected Will
liam c. Decker president in a broad
revision of the company'S executive
staff, Amory Houghton. chairman
announced.
Socony-Vacuum Oil Co.'s R. B
Ceden was named chairman of OPA
Industry Advisory Committee for
Lubricants yesterday.
National Radiator Co. has pur-
chased the Pullman Standard Car
Co. plant at MiddletoWn, Pa.
Lone Star Cement Corp. reported
l945 net of S2,774,138, equal to 1922
a share, compared with S2,o55 ,256, or
SIT in 1914.
j. c. Penney Co. March sales to-
tailed S50,159,4 up 1.S1 per cent
over March, 1945. For the first
three 1916 months, sales of s124, ,107,-
664 were 3.87 per cent above the
first quarter, l945, sales of $119,485,-
9l0.
Walworth Co. stockholders will be
asked May 2 in Boston to authorize
proposed issuance of convertible
long-term debentures and converti-
BILE preferred stock of no par value
Kidder, Peabody & Co. were high
bidders for 10000 shares of Centra.
Ohio Light & Power Co. preferred
stock, offering 100.929 for $50 per
cent dividend.
U. S. Steel Corp. discontinued
monthly reports on finished Stee
products shipments, a practice Of
more than 40 years standing.
Standard Steel Spring Co, Cora.
opolis, Pa, plans to purchase plant
at Newton Falls, Ohio, with S638 ,OO(
from a stock sale of 100000 shares
of $50 par convertible preferred
stock.
Anaconda Wire e. Cable Co. 1945
net profit of S646,324, equal to $1.53
a share, compared with Sips, ,202
or $3.50 a share, in 1914.
Bank of America is again world
largest bank. Deposits totaled S5,-
232, 100, 1853 on March 80, compared
with Chase's s5,140,087 900. Loans
and discounts March 80 totaled ST.
081 ,016,966, up s184,000,0O0 from
1945.
Reynolds Metals Co. and subsidi-
aries earned S403 per share in l945
compared with s271 in 1914. Net
was s4,396,l87 in l945, against S3,-
o45,8lS in 1914.
Western Union stockholders heare
the company now was operating al
loss. Deficit for first two months
OF 1946 called about $4,500,000.
Libby Owens Ford reported loss
OF S450,445 after taxes for first
quarter against net of $1,903, ,464 ir
same period year ago.
The New York Stock Exchange
has authorized the Stock Clearing
Corp. to restore the clearance de-
partment, temporarily discontinued
IN 1912, for the daily clearance OF
contracts between members in list
ed stocks. Service will probably
START around June IS.