Evening star., 1946-08-04
Business Briefs

Business BriefS
Less Use of Credit is the way to
avoid an upward spiral OF costs THAI
corld collapse the real estate price
structure, warned DR.. Ernest NJ,
Fisher of Columbia University. TINS
piling up of debt is the most dam
gerous situation in the present mar
ket, he said.
Uncle Sans Deficit In July, first
month of the new fiscal year. was
second largest for any peacetims
month in history. Tax receipts set
a peacetime record for July. and so
did expenditures. ,:
Home Building financed privately
in July rose to 1888, 600, 900, a gain
OF 8fe from the previous MONTH
Commerce Department.
Auto Production in the United
States totaled 77,75S units last week
VS.. S0,546 in the previous week
Automotive News. While this week,s
output is expected to be slightly
higher, shortages of materials may
cut August production schedules.
Iron Ore Shipments on the Great
Lakes in July totaled 10,S48,335 gross
tons, drop of only 4.6qo from a
year ago-Lake Superior Iron Ore
Association. Shipments in seven
months totaled 23,S48,S a drop OF
40.9To from year ago. st5
New England Gas q Electric AS
ISOLATION invited bids on $22, 500 ,000
of 20-year bonds and total of up
to 1853 $50 common shares. Bids
will be opened August 13. &
Continental United Industries Co.
registered for the SEC $4,000 shares
of cumulative sinking fund prefer
red stock and $4,000 common shares
to finance retirement of debt.
Bellanca Aircraft Co. cmmitted
common stock dividend for the Sec
ond quarter. Similar action was
taken April 26.
Coca Cola Co. earned sl033l .67s
or S252 share in the first half VS..
slo,667,23S or $3.50 year ago.
Proctor & Gamble Co. profit for Il
months ended June 80 was S2l ,263,-
669 or 1929 VS.. s19,512,3l or s2.gs
in the same 1945 period.
/ Montgomery Ward e. Co. esti.
mated profit for five months ended
June 30 was s23,332 1863 or s43s a
share. Profit for the entire fiscal
year ended January 81 was s22 1882.
OPS or $412.
National Gypsum Co. earned ST..
727,2l8 or 90 cents in the first hall
of 1s46 VS.. s5l9,559 or q cents year
ago.
Electrolux Corp. net for the first
half was 81 ,336,815 or 81 .o8 VS.. S517,.
942 or AZ cents in the same 194S
period.
Powdrell & Alexander, Inc, earned
1927 ,629 or s2.21 in the first half vs.
S264,080 or 81 cents year ago.
Twin City Rapid Transit Co. net
for the first half was $752,623 OF
$3.50 VS.. s504,2l8 or s178 in the samf
l945 period
dams Mills Corp. earned s715,.
752 or S4,59 in the first half vs.
1882, ,359 or S213 year ago.
! New York g. Honduras Rosario
Mining Co. profit for the first hall
was s63l $40 or S3.40 VS.. $317,738 OF
$l71 in the same 1945 period.
Seaboard Oil Co. of Delaware
earned 1859 ,489 or As cents in the
June quarter VS.. s662,975 or 54 cents
& year ago.
r. B. Semler, Inc, net for the first
half was s414,209 or S1.04 VS.. $517,-
276 or S1.29.
Foster Wheeler Corp. deficit for
the first half was S236,916 VS.. profit
of S737 ,956 or $2.38 in the same 1945
period.
Gamewell Co. earned S65O,833 or
S1.82 in II months ended May 81 vs..
S545 $50 or s1.52 in the preceding
fiscal year.
Maryland Casualty Co. has repaid
all debts to the RFC and voting
control has been returned to the
stockholders, said President Mac.
/ Donald.
Union Pacific Railroad ordered l.
900 more boxcars from Pullman
Standard, raising the total ordered
since last autumn to 5000.
Studebaker Corp. will resume full
passenger car production tomorrow
J following the end of a strike at the
plant of parts supplier.
Gulf Oil Co. refinery at Toledo,
Ohio, was released from Government
control. 1t is the last of 49 re-
fineries taken over in October DUR
ing strike.
National Tube Co. elected William
F. McConnor vice president in
! charge of sales, to succeed John E.
!, (yohtn u,ha hecopoe r,reSiIopf