Evening star., 1946-05-14
Business Briefs

Steel Mill Operations for the cur
rent week were scheduled at 48.9Gc
of capacity, indicating production OF
861 300 tons-American Iron & Stee.
Institute. Figures last week were
58.7Go and 1034,5O0 tons; month
ago, 774eo and 1.364,100 a year ago
$3.50 and 1,745,50O. The decline
was caused by the coal strike.
American Rolling Mills Co. called
for redemption on June IA 1926
600 of its Az Go cumulative preferred
stock at los plus accrued dividends
International Paper Co. called fol
redemption July 5 $20,000,000 o.
around a fourth of its cumulative
convertible so preferred stock a
los and accrued dividends.
Public Service Co. of Indiana
called for redemption June l3 al
Series A SO preferred stock at 10;
and accrued dividends.
Illinois Power Co. received a high
bid of 102.039 for s45,000,000 of first
mortgage 27sro bonds, due 1876
from First Boston Corp. and associ-
dGSS. 1llc odlllC SlOup w 40 IllSlI
bidder on S9000,000 of the company S
294 60 debentures, due 1866, at 10l. .39
Bonds are to be reoffered at 102.54
debentures at l01.54
General Tire & Rubber Co. reg
istered with the SEC 25,000 shares
of cumulative preferred and $4,000
shares of convertible second pre-
ferred to reduce bank loans and add
10 working capital. The firm will
spend S1,50O,000 for expansion this
year.
Iowa Public Cervice Co. filed a re-
financing plan, which provides fol
issuance of S13,750,OOO of new first
mortgage bonds, a S1,750,000 bank
loan, 42,500 new preferred shares
and 1888 common shares.
Panhandle Producing g. Refining
Co. control passed to an insurgent
stockholders committee, which elect
ed its slate of nine directors Presi-
dent Dahl turned the annual meet
ing over to the opposition.
Gimbel Brothers, Inc, stockhold-
ers approved an increase in author
lied common stock from 1881 ,725 to
100000 shares and change from
no par value to S. Sales in the
first 1916 quarter totaled S66,600,-
900, a jump of 324fo from a year
ago
Goodyear Tire & Rubber Co. re-
ported sales in the March quarter
totaled S124, ,794,OO0 VS.. S208,000, ,0OC
a year ago. The firm decided not
to issue earnings figures, but Off
Gals said they had been on com
mensurate basis" Sales for 194e
are expected to reach $55O,000,00(
VS.. 100000 in 1941.
United Aircraft Corp. declared q
dividend of so cents, payable june
Is. Previous payments were 81. A
deficit of S505,92l for the March
quarter contrasted with profit OF
S3,547,781 in the same 1945 period.
Atlantic Coast Line Railroad re-
ported net income of s432.648 or 81
cents a share in the March quarter
VS.. 1884, ,320 or $3.50 in the same
period last year. For March, there
was a loss OF $1,779,924 VS.. profit OF
S1,223,484
Bell Telephone Co. of Pennsyl.
vania earned S3,647, ,901 in the March
quarter VS.. $2,543,047 a year ago.
Industrial Rayon Corp. profit fol
the March quarter was S1,862 ,535 OF
s1.15 VS.. S455, lot or % cents in the
same 1945 period.
Richfield Oil Corp. earned $685.
859 or Is cents in the March quarter
VS.. S1,121,910 or % cents a year ago
Electric Auto-Lite Co. loss for the
March quarter was S1,433 ,228 VS.
profit of s1,476,178 or $1.23 in tht
same period last year.
Crowell-C Collier Publishing Co
earned S1,916,010 or $124 in the
March quarter VS.. 81 ,682,812 or $l.0s
year ago.