Evening star. [volume] (Washington, D.C.) 1854-1972, 1947-08-24
Business Briefs

creased from s1o22 to $10.42 a GAL
Ion in the last seven months. accord
ing to the Distilled Spirits Institute.
Minnesota raised its tax from 81 to
$3.50 a gallon. Other States which
increased the levy, in varying
amounts, are Arkansas, Wisconsin,
Tennessee, Massachusetts,. New Jer-
sey, Nebraska and Nevada.
Federal Power Commission or
dered a hearing in st. Louis Sep
TENDER Is on the application OF the
Mississippi River Fuel Corp. to ex-
pand its gas pipeline system at
cost of $11,083,715.
Standard Oil Co. (Indiana) will
continue to ration gasoline to deal
ers in II Midwestern States through
September and October. The States
are Illinois, Indiana, Iowa, Kansas,
Michigan, Minnesota, Missouri, Ne
braska, North Dakota, Oklahoma,
South Dakota and Wisconsin.
Bituminous Production in the week
ended August is was estimated at
II, TAO, 900 tons, VS.. 1870 900 the week
before and 12,013,000 a year earlier
National Coal Association.
Arbitration Beard in Chicago
heard representatives of four rail-
roads protest against the demands
of II incorporating brotherhoods for
a 20-cent-an-hour wage increase.
Ralph Budd, president of the Bur-
lington System, declared the raise
would be harmful to the industry,
to its employees and to the public"
Mutual Savings Banks Deposits
continued upward in July, but at a
much slower rate than during June,
the National Association of Mutual
Savings Banks reported. Total de-
posts of $l7,461 100000 July 81 rep
resented an increase of $4,000, 900
from June 30, of which $4,000, 900
was deposited in regular accounts
and $12,e00,000 consisted of school
children's savings. Christmas and
other special accounts. Government
securities holdings were up $5l ,000,-
900 to . total of $12,177 ,000, 900,
mortgage loans increased $50, 000,-
600, and corporate securities $43,-
0,000
President Roxas Is seeking to &C
quire on behalf of the Philippines
government some $l3,00o,0oO worth
of Manila Railroad Co. bonds held
by British interests. The sale would
give the Philippines complete own
ership Of the line. Philippines rep
resentatives were instructed to ne
gotiate In London with T. T. Priestly,
representative of the bondholders.
Paraffine Companies reported for
the fiscal year ended June 80 net
profit of $3,241,879, or s6.41 a COM
mon share, VS.. $1.014,547. or $l,S7 a
share, for the year before.
Delaware Lackawanna e. Western
Railroad reported July net operating
income of s579,734. compared with
$2l5,90o in July last year. For the
first seven months Of the year net
operating income totaled $4,61S,o76,
VS.. 81, 709, 636. -
Kennecott Copper Corp. net for
the first half was SAC, 086 1926, or 81. 26
share, VS.. $4,508,933, or AZ cents,
in the comparable 1916 period.
Midland Steel Products Co. in the
six months ended June 80 earned
81 ,220, 1859, or $685., VS.. $665542, or
SO cents.
Quaker Oats Co. declared divi-
dend of rs cents common share,
payable October 10 to holders of
record September IL. The last COM
mon dividend was $3.50 a share paid
July 10.
Glen Alden Coal Co. declared a
dividend of so cents payable Septem-
Der 20 to holders of record August
20. 1t was this years third 50-cent
disbursement.
Upgrade Food Products Corp. de-
clared dividend of Is cents, payable
September 10 to stock of record
September g.