Evening star., 1947-01-14
Business Briefs

Prosperity Co. resumed dividends
on class A and B stocks with declar-
ations of Is cents on each class, pay
able March Is.
Lionel Corp. declared an extra
dividend of so cents and regular
quarterly of 20 cents, both payable
February %, raising payments for
year ended February Is to $1.7O VS..
60 cents in the preceding year.
Spencer Kellogg & Sons, Inc., de-
clared quarterly common dividend
of go cents, payable March 10. Pre-
vious payments were As cents.
Transcontinental & Western Air,
Inc, stockholders adopted resolu-
ton to increase common stock from
100000 to 100000 shares. The
firms net loss for 1916 may approx
mate $1O,OOO,0OO, Vice President H.
B. Miller said.
w. A. Sheaffer Pen Co. stockhold-
ers will vote January % on pro-
posed 5-for-1 split in common stock.
Birmingham Electric Co. offering
Of 45,478 shares of 4.2% preferred
stock will be marketed later this
week by First Boston Corp. and Asso-
ciates at 500 share plus accrued
dividends.
nounced a subscription price of $40
a share had been set on an offer OF
100000 new shares to present hold
ers.
National Transit Co. policies will
be unaffected by new owners OF
126,481 shares, President j. H. Con-
tino announced. He said they
authorized him to say they do moi
intend to interfere
National COntainer Corp. has ac.
duired all common stock of Moore
Boxes, Inc, which operates a cor
rugated box plant at Chicago. Ma
tionals 1916 sales were estimated al
s29, 100000 VS.. $18,700,000 in 1945.
American Gas G. Electric Corp
and subsidiaries earned $18,134 SO;
or S3.75 share in IL months ended
November 80 VS.. $12,093, ,208 or $2.3:
in the previous year.
Superior Oil Co. of California re.
ported net income of l,187 1926 OF
S2.8r in three months ended Novem-
ber 80 VS.. $596,534 or $141 in the
same 1945 period.
New York, New Haven and Hart.
ford Railroad deficit for II month.
ended November 30 was $5,787 60.
VS.. net income of $11, ,106,554 in tht
same period of 1945.
Lukens Steel Co. earned $3.50 g.
In the year ended October in con
trast to a profit of s2,75l ,477.56 il
the preceding year.
Piper Aircraft Corp. loss for L
months ended September 80 wa
s26,4 ,437, including a 1899 900 carry
back tax credit and $66,056 addi
tional recovery on war contracts
VS.. net income of $143,153 in tn
preceding fiscal period.
Western Air Lines losses will en-
in the second 1947 quarter and cos
controls will bring profitable opera
tions in. the last half of the veal
predicted President T. C. Drink
water.
New York Telephone Co. adde
100000 new telephones in 1916, NOR
than for any other two years in it
history, and raised the compan
total to 3,065 ,000 However, it stil
has a waiting list of 100000.
Mutual Broadcasting System wi
build radio and television studios il
HOLLYWOOD at cost of $2,500, ,00(
Work will start this month.
Canadian Pacific Railway electe
w. M. Neal chairman and presiden
to succeed D. C. Coleman, who vii
retire February /. G. A. Walker
general counsel, will succeed MI
Neal as vice president.
PennsyIvania Railroad appointe
AssJ. Greenough superintendent G
IT'S Maryland division with head
quarters in Baltimore. He succeed
C. J. Henry. who moves to Philadel
phia as assistant chief engineer c
the Eastern region.