Evening star., 1947-08-11
Business Briefs

Steel Mill Operations for the cur.
rent week were scheduled at 93.2%
of capacity, indicating production Of
1,630,90O tons-American Iron &
Steel Institute. Figures last week
were 94.9Go and 1,660,700 tons; g
month ago, 915To and 1,601 200;
year ago, 90.39o and 1881 400.
Passenger Car Tire Shipments in
the first halt of 1947 totaleo
36,323946 castings, a gain of 1857
from the same 1916 period-Rubber
Manufacturers Association.
Foreign Silver Price at New York
was raised half a cent to 62A cents
an ounce. 1t was the first change
since July % when the price dropped
cents.
Chicago Transit Authority re.
ceived Federal court approval fol
an extension of the date for transfer
of traction facilities from August
81 to September 80. The authority
reported $33,OOo,000 of its $105, ,000,'
900 bond offering had been sold.
Monongahela Power Co. askec
SEC permission to sell at competi'
tive bidding $7,o00,O0O of 30-yeal
first mortgage bonds and 40,00'
shares of S1O0 par cumulative pre-
ferred stock to finance expansion.
Wheat Flour Output in Junl
totaled 24,2o0,000 sacks, a drop Of
100000 from the preceding month
but 38qo above the same 1916 month
Commerce Department.
Texas Gulf Producing Co. de
clared a dividend of 80 cents com.
mon share, payable September 6
Previous payment was 20 cents
Profit for the first 1947 half wa!
$1,210,40 or S119 share VS.. S415.'
176 or Al cents in the same 194t
period.
Standard Oil Co. (Indiana) earned
S40,936,430 or S268 a share, in thu
first half VS.. s33,668,845 or 1920 {
year earlier.
Western Union Telegraph Co. ne
income for the first half of 1947 wa!
S6,258,355 or $500 VS.. loss of S.,
S32.438 in the same 1916 period.
New Jersey Zinc Co. earned $4,'
481,,313 or 1929 a share in the frs
half VS.. $2,331 1868 or s119 a veal
earlier.
Johnson & johnson, Inc.-Net in
come for the first half was $3,646, ,00l
or S192 VS.. $1,000, 900 or $152 in tht
same 1916 period.
Electric Storage Battery Co. prof
for the first half was S2.608,415 o
s2.87 VS.. 81 $50, $40 or S169.
Melville Shoe Corp. earned S2,714,
564 or $1.23 in the first half VS.. 81,
2S2 1862 or S105 year earlier.
Crowell- Collier Publishing Co. ne
for the first half was s2,542,589 o
s1.64 VS.. $3,816,094 or s246 in tn
same 1916 period.
Southern Bell Telephone g. Tele
graph Co. earned s2,043,261 in tn
first half VS.. S., ,467 1877 a year earlier
Virginia Electric g. Power Co. ne
income for u months ended June 8
was s6,124,795 or s1.59 VS.. s6,359, ,3S
or. s1.67 in the preceding fisca
period.
McQuay-Norris Mfg. Co. earne
S72O.131 or S1.92 in the first half "
s751,9l2 or s2.02 a year earlier.
Florida Power Corp. and subsidia
ries reported net income OF $1,8l7,
36l or S1.65 in IL months ende
June 30 VS.. ST ,072, or s1.4s in tn
previous year.
Pressed Steel Car Co. earne
s73e,7O5 or 81 cents in the frs
half VS.. a deficit of S37o,745 a yea
earlier.
Penn Mutual Life Insurance ca
reported new business in the firs
half of l947 was $126,310,331 abov
the same 1946 period, largest gail
for similar period in II years.
Baltimore e. Ohio Railroad han
died 67.203 cars of freight in tn
week ended August 9 VS.. 68,233 i
the previous week and 67,31S a yea
earlier.