Evening star., 1946-01-27
Business Briefs

Industrial Expansion Programs
may have to be revised or post
poned unless production sstoppages
are remedied promptly, the Ma
tional Association of Purchasing
Agents warned. IF, as some say,
this is to be an industrial civil war
over something more important
than hourly wage rates, anything
can happen" the association OBJ
served.
Increased Steel Prices will be the
beginning of the end of many OPA
ceilings throughout fabricating in
dustries, declared Burnham Finney
in the American Machinist Cell
ings are restricting production in
many lines, he added.
Higher Lead Prices are required
Immediately to meet the acute short
age of the metal, executives of the
industry told CPA officials in the
last week. An advance would spur
output, they said.
A New Sugar Crisis is developing
along the Eastern seaboard, accord
Ing to Associated Press Most East
ern reflnerieS will run out of raw
sugar about February 10 to Is, un-
less the Government can find way
to get supplies from Cuba, said
President Joseph F.. Abbott of
American Sugar Refining Co.
Paper Production in the week
ended January 10 was at 944qo of
capacity VS.. $500 in the previous
week and 1870 a year ago, the
American Paper & Pulp Association
disclosed.
Scott Paper Co. stockholders will
vote March % on plan to reduce
authorized preferred shares from
129,7 ,780 to 59,780, the total now
outstanding; authorize 10000 cum
ulative preferred shares and in
crease authorized common from
100000 to 100000 shares.
Wick Chemical Co. directors
recommended a 2-for-l stock split
up. Holders will be asked to au-
thorize 100000 shares of $3.50 par
value, with the firm issuing 1853 $50
in exchange for the outstanding
679, ,480 shares.
Elastic Stop Nut Corp. directors
voted to call tor redemption on
April Is all of the $4,000, 900 IS
year SO sinking fund debentures at
103 and accrued interest.
S. III. Kress e. Co. net for l945
was $5,0l2, ,280 or $213 VS.. S5,734 ,632
or $225 in 1914, after dividends on
preferred stock redeemed at the
end of that year
BOrg-Warner Corp. earned $4,514,-
i4l OF sl.93 a share in 9 months
ended September 80 VS.. $5, TIA ,072 or
$2.47 year ago.
Lone Star Cement Corp. profit for
1945 was S2,70l sos or S2.85 VS.. So
055, ,256 or $217 in 1914.
Paraffine Companies, Inc, earned
Se3,S06 or cents in 6 months end
ed December 81 VS.. 81 ,020, 100 or s2.04
a year earlier.
Missouri-Kansas Texas Lines re-
ported net income of s3,868,00 for
l945 VS.. S4,1l0,000 in 1914.
Bangor g. ArOostOok Railroad
earned $747,lO4 or 1892 in l945 VS..
$947,42 or $3.50 in the previous
year.
Skelly Oil Co. sold Spartan Air
craft Co. to j. Paul Getty of Los
Angeles for 81 100000.
Cuban Atlantic Sugar Co. report
ed progress in negotiations with
Hershey interests for acquisition of
Hershey sugar and railroad proper
ties in Cuba in exchange for Cuban
Atlantic securities.
Koppers Co. acquired all COM
mon stock of Wales Dove -Hermi-
ston Corp. of Westfield, N. j., maker
of bituminous coatings for iron and
steel.
Central New York Power Corp.
asked SEC permission to issue and
sell 200 900 shares of new $1O0 par
value preferred stock at competitive
bidding. An additional 68 .642 COM
mon shares would be sold to Nj
agara Hudson Power, its parent
company, for $4,000, 900 cash. Pres
ent So preferred would be re-
deemed.
Madison tWis.) Gas & Electric Co.
invited bids until February S on
81 500 900 of first mortgage bonds,
due 1876, to finance retirement of
4e5 bonds and $40 preferred
shares, and provide for expansion.
Ebaloy, Inc., registered with the
SEC $4,000 common shares to be
offered publicly at So share for
refunding and expansion purposes.
Chesapeake & Ohio Railway is
expected to elect R. j. Bowman pres
ident to succeed Carl E. Newton.
who resigned. Mr.. Bowman is pres
ident of the Pere Marquette.
United States Tobacco Co. elected
Jonathan Whitney Peterson presi-
dent to succeed the late John M.
Devoe. He is a son of Jonathan
Peterson, the firms first president
y Standard Oil of California elect :