Evening star., 1946-03-27
Business Briefs

AAAS <AAS" AOPSAky SuSkVuAdA bO-
day sold group Of investment
bankers for $15,440,884 the 478,194
shares of American Potash g. Chem
ical Corp, class B stock, confiscated
during the war. The stock consti-
tutes 9O.5go of the company's capital.
Arthur S. Barrows, Sears Roebuck
president since August, 1912, will
become vice chairman of the board
of directors and will be succeeded
as president by Fowler B. McCon-
nell, vice president in charge OF
retail administration since 1899.
Associated Dry Goods directors
have proposed splitup of the COM
mon stock on two-for-one basis
and an increase in the number OF
shares to 100000 from 100000.
Seiberling Rubber Co., through a
syndicate headed by E. H. Rollins
& Sons, offers at $100 a share 35,-
900 shares of Az q cumulative prior
preferred 500 par.
Industrial Rayon Corp. directors
have been reelected and an increase
authorized in common stock from
100000 shares without par value
to 100000 shares of 81 par.
Worthington Pump g. Machinery
Co. earned $2,274,3l7 net in 1945 OF
S6.41 common share, VS.. 1914 net
of $3,007 Ala or $843.
Interchemical Corp. net for 1945
was 81 1,035 ,818, or $2.19 a common
share, VS.. 1914 net of $l,174,847, or
$2.55.
New York, Chicago and st. Louis
Railway has asked ICC authority tc
issue SAL, 100000 series F. refundine
mortgage bonds to redeem $41, 1896,
900 of 334%o series D refunding mort
gage bonds.
Chesapeake & Ohio net for l945
was $l6,379,847 or $2.14 a common
share VS.. S27 $40, 1895 or $3.57 in 1914
The road will claim 1941-44 excess
profits tax refunds of $11 ,209 ,729.
Norfolk g. Western Railway
earned $2,746,9S in February vs.
$l,793,215 in February, 1945, and ST.
1912 last January.
Atlantic Coast Line reports Febru-
airy net of $969,349 VS.. $957 ,472 in
same month last year. Operating
revenues for February dropped tc
s11,075,69 from $13, $50 ,691 last year
Consolidated Natural Gas had net
of S9,913, ,504 for 1945, or $365 COM
mon share. VS.. 81, 7,627,616 or $3.50 in
1914.
J. C. Penney Co. profit for 194s
was $l7,367, 1926, or $2.11 per common
share VS.. S17,159, ,357 or $2.0S in 1914
United Gas Improvement Co. haC
1852, ,725 net income in 1945, equa
to SIS cents per common share, VS.
$1.047,514 or 39Aa cents in 1914.
Southern Railway gross revenue
dropped to SIT ,367 900 in February
from $22 ,570,009 in the same month
last year. Net income, however, was
$1,580,000 in February VS.. $1,941 ,03'
in February, 1914.
Schenley Distillers net for 81,
months ending February % wa.
$25, ,733 ,136, or $7.15 per common
share VS.. $12,678,2 ,229 or $6.48 in tn,
like 1945 period.
Packard Motor Car Co. and it.
subsidiaries had net profit O
Sl,l4l ,953 IN l945 VS.. S4,l17,Sl0 II
1914. The company in 1945 paid Il
cents a share dividend VS.. 10 cent
share in 1914.
Steep Rock Iron Mines, Ltd, On
tario, has filed a registration certifi
cate with the SEC for 500, 900 share
of 81 par capital stock. Offerin,
price to the public not yet set.
Republic Aviation Corp. expect
to deliver $33, ,698 900 of military or
ders in 1916.
U. S. Rubber, Ltd, plans to spent
5000, 600 in plant expansion IL
South Africa.
Associated Electric Co. has askec
SEC for permission to sell its invest.
ment In Arizona General Utilities
Co. for $4,000.