Evening star., 1946-09-03
Business Briefs

Steel Mill Operations for the cur
rent week were reduced by the Labor
Day holiday to 84.5qo of capacity, in
dicating production of 1,489 200 tons
American Iron & Steel Institute.
Figures last week we're 894eo and
lists 900 tons; month ago, 89ee and
1853 500; year ago. 749eo and l.
371, 300.
Real Estate Loans of insured
banks, after remaining fairly con-
slant for several years, rose 1870 in
the first half of 1916 and totaled
s5,74o, 100000 on June 29-Federal
Deposit Insurance Corp.
Automobile Output of the Nation
this month may top 400, 900 units
for the first time since late 1941, but
the industry will have to fight mate
rial shortages all the way-Associ-
ated Press.
International Telephone g. Tele-
graph Co. will sell its subsidiary,
United Telephone Co. of River
Platte, to Argentina, it was an
nounced by that government. No
price was mentioned, but it was esti-
mated reliably at about S95, 1000 600.
Standard Brands, Inc, stockhold-
ers will vote October 2 on proposed
creation of 350,000 shares of new
preferred stock to be exchanged for
present $3.50 preferred. The new
shares would have a rate not to
exceed $3.50
Decca Records, Inc, doubled the
quarterly dividend on common stock
with q declaration of so cents, pay
aole September 30. Stockholders will
0e asked to vote November on a
proposed 2-to-1 split in common.
Cannon Mills declared a dividend
Of IS cents common share, payable
october /. Previous payments were
so cents.
Thomas A. Edison, Inc, declared
an initial dividend of 20 cents on
class B stock, payable September
l6.i The shares were sold publicly
recently.
New York Central announced de-
livery Of 153 stainless steel coaches
had been completed in a year by
Pullman-Standard Car Mfg. Co. II
was largest order Of passenger cars
ever delivered in that time to q
single road.
General Public Utilities Corp. was
permitted by the SEC to put into
effect its reorganization plan which
calls for sale of $6,250, 900 of notes
to help retire outstanding convert
ible debentures.
Borden Co. earned $8,875 900 OF
s2.10 q share in the first half OF
1916 W. $5,s75,ooo or s1.3s a year
ago.
Transamerica Corp. profit for the
first half was 100000 or 10 cents
vs. $ll,700,000 or SLIT in the same
lS45 period.
General Tire d Rubber Co., ex-
cluding operations of the Yankee
Network, earned $3,237,s31 or $51s
in the first half VS.. $l,2l1,80l OF
SLIT a year ago.
Diamond Match Co. net income
for the first half was $l,199,765 OF
SLOT VS.. $1,032,93l or SO cents ir
the same 1945 period.
Pennsylvania Central Airlines re-
ported deficit of $747,763 for the
first halt VS.. profit of $411,549 In
the same period last year.
Julius Kayser & Co. earned ST.
553,258 or $210 in IL months ended
June 80 VS.. $l.l55,2 ,268 or $l.56 in the
previous year.
Froedtert Grain & Mailing ca
profit for IL months ended July 8
was 81 ,0S5 800 or $1.l8 VS.. 81, ,O00, ,S8
or SLIT in the preceding fiscal pc
riod.
Fairchild Camera & instrument
Corp. earned $464 800 or $l.3s in 1874:
vs.. $l,120,553 or 1892 in 1874.
Bendix Aviation Corp. loss TO
nine months ended June 80 wa
s820,0l5, including $500 900 of carry
back tax credits, compared witt
profit of sl0,376,644 or $3.50 a yea
ago.