Evening star., 1946-12-08
Business Briefs
More Business Failures in /

| BUSINESS brIefS
More Business Failures in 1947
than in 1916 were predicted by 1870
of the New York credit and finans
cial executives covered in survey
conducted by the New York Credit
Mems Association. Among reasons
given were: Unusually large and
unbalanced inventories purchased
at high prices; lack of experience,
particularly among many new firms;
increasing competition and lack Of
capital.
Listed Stock Values on the New
York Stock Exchange averaged
$37.26 on November 80 VS.. $376 a
month earlier and S46.13 year ago.
Automobile Production in the
United States was estimated at
92,971 this week, new postwar high,
which compared with 72,739 in the
preceding holiday week and pre-
vious postwar peak of 92,531 in the
week ended November 23-Automo-
tive News
Confectionery Sales of manYfac-
turers in October set new record
for the month and were 37% above
the preceding month and 1870 above
year ago-Census Bureau.
Hummell- Ross Fibre Corp. stock
holders will vote February 4 on pro-
posed sale of property ard assets
to Continental Can Co. through an
exchange of stock at the rate of
three Continental shares for four
Hummell- l-Ross shares. Humnlell-
Ross preferred would be retired.
Inter Mountain Telephone Co.
was authorized by the Virginia Cor
poration Commission to sell $400, 900
of first mortgage sinking fund bonds
to private investors.
Electric Storage Battery Co. de-
cIared a final 1916 dividend of 81,
payable December 81, raising the
years total to $3.50 VS.. 81 in 1945.
S. II. Kress g. Co. declared an
extra dividend of $140, payable
December "a, lifting 1916 dividends
to $4-20 VS.. $l60 last year.
S. S. Kresge Co. sales for Novem-
Der totaled $25. .402 ,535, a gain Of.
24.89o from a year ago; for IL
months, s211 ,469, ,s65, an increase Of
117Ge.
Montgomery Ward & Co. sales for
November totaled sl06,355 $40. al
gain of 38.1%o from year ago; fors
ten months ended November 80.
1851 ,297, 1877, an increase of 498%.
F. w. WOolworth Co. sales ins
November totaled S53, ,253 ,274, a rise
of 2399o from a year ago: in eleven
months, $466 ,262, ,121, a gain of 15.0qs.s
G. c. Murphy Co. sales for Novem-5
ber totaled $10,125,261, an increase
of 25.3% from year ago; for eleven
months, 500, ,473, a rise of 15.2%.s
Lerner Stores Corp. sales in
November totaled s8,55o,672, gain
of 7.19o from a year ago; in ten
months ended November 80, $78, 1885, +
208, a rise Of $50.
w. T. Grant Co. sales for Noyem-j
ber totaled S20,888,915, an increase,
of $3.50 from year ago, for eleven
months. $182, 1876 300, gain of 20fo.j
Butler Bros. sales in November
totaled $15,056 ,946, a rise of 29.4eo
from year ago; in eleven months,
STAT ,805 .803, a gain of 33.3%.
Western Auto Supply Co. sales for
November totaled $11 ,067 900. rise
of 58.7go from year ago; for eleven
months, S95 ,646 900, jump Of $3.50.
Admiral Corp. earned s1,222,0 900 or
s136 a share in ten months ended
October 81 VS.. s538,825 or so cents
| year ago.
American Cable & Radio Corp.
reported net loss of s482, 500 for
nine months ended September 80
VS.. profit of $l,474,527 in the same
1945 period.
WoodaII Industries, Inc, earned
$3.50, ,843 In IL months ended August
81, including tax credit of Sill ,607,
VS.. S704, ,537 in the previous year.
Barium Steel Corp. has acquired
full control of Bayonne Bolt Corp,
which has shipping facilities at its
Bayonne, N. j.. plant.
Brainard Steel Co. stockholders at
Warren, Ohio, approved sale of
assets to Sharon Steel Corp. through
an exchange of stock on the basis
of $4,000 Sharon Steel shares for
1895 Brainard shares. The price
figured out about S979,000.
Colgate ve-Peet Co. will
pay two weeks salary bonus to-
employees December 20.
American Standard Radio Corp.
has reached an agreement with the
city of Stockholm, Sweden, for pur-
chase of a site for new factory.