Evening star., 1946-05-27
Business Briefs

SteeI MIL operations IOf the cur
rent week were scheduled at 43.6c5
of capacity, indicating production Of
1853 400 tons-American Iron & Steel
Institute. Figures last week were
1920 and 867,10 tons; a month ago,
677ea and 1893, 100; a year ago, 81 %
and 1,666.80,
Merchandise Exports in March
totaled s788,00O000. gain of
s137 100000 from the previous month
Commerce Department. A S22,-
100000 increase in shipments Of
industrial machinery alone was re-
corded.
Budd Co. will raise s39,65O,OOO
to finance 1916 expansion retire
funded debt and increase working
capital. It registered with the SEC
an unspecified number of new COM
mon shares and plans to sell S30,-
100000 of sinking fund debentures
maturing III Is to 20 years.
Virginia Electric & Power Co. plan
to borrow 6,500000 at l.. C inter-
est to finance retirement of $5159,-
600 Of 21lco notes and increase
working capital was approved by the
Virginia Corporation Commission.
Transcontinental & Western Air
Inc, has sold S10,000,000 of 2lt C
sinking fund debentures, due 1851,
to Equitable Life Assurance Society
to finance equipment purchases.
Brown-FOrman Distillers Corp.
directors declared 1907 common
stock dividend, subject to approval
Of stockholders at a meeting July
23 Issuance of 14,750 new 81 pre-
terl'ed stock also was proposed for
exchange on a share for share
basis for present $5 prior preferred.
international Paper Co. will offer
share of new senior 81 preferred
stock and fourth of a share of
common for each present cumulative
convertible 81 preferred share-up
TO 100000 shares of the latter.
Ohio Public Service Co. sold S38,-
100000 of bonds and notes and 1885,
300 shares of preferred stock for
refunding purposes. Mellon Securi-
ties Corp. and ASSOCIATES bid 100 4099
for 2&if bonds and 10013 for $3.50
preferred. Halsey, Stuart & Co.
bid an interest cost of 1741qs for
S6.000000 of serial notes.
Mountain States Telephone &
Telegraph Co. received a high bid
of S101 Al for S35 900 900 of 25s 20 de
bentures from Harris Hall & Co.
and associates. Reoffering was
planned at $l0l87.
Eureka Williams Corp. acquired
the National Stamping & Electrical
Works at Chicago and will operate
it as a subsidiary
HOving Corp. has been incor-
porated in Delaware and will ac-
quire department and specially
stores in various parts of the Ma
ton. Walter Hoving, former presi-
dent of Lord & Taylor, is president
Safeway Stores, Inc, sales for
four weeks ended May 15 totaled
SCI ,960,97l, a gain of $50 from a
year ago; for 20 weeks ended the
same date, $3O4, 1881, an increase
of 25.4Pc.
Pennsylvania Railroad net loss in
April was s2,266,716 VS.. net income
of S12,304.272 a year ago. Net in
come for four 1916 months was
s543,210 VS.. $39, 9,15O,491 a year ago.
New York Central Railroad loss
for April was 81 ,529, ,545 VS.. net in
come of S3,288,l0 a year ago. Loss
for four months this year was ST.
764,5e8 VS.. net income of S8,752 ,86s
in the same 1945 period.
Brown SShoe Co. earned S1,005 $50
or S196 in six months ended April
80 VS.. S441,l2 or SO cents a veal
ago.
Pet Milk Co. deficit for the March
quarter was $1,083,0 ,082 VS.. profit o1
S258,004 or As cents in the same 1945
period.
Addressograph- Multigraph Corp
and its Canadian subsidiary earned
S1.193,943 or S158 in IL months
ended April 80 VS.. 1925 1896 or S1.6:
in the previous year.