Evening star., 1947-12-14
Business Briefs
Another Round Of Price Incre

4
for gasoline and other petroleum
products is expected to get under
way this coming week-Associated
Press. An advance by Socony-
Vacuum Friday was regarded In oil
circles as the initial move in that
direction.
Consumers Price Index of the
National Industrial Conference
Board reached a new high in mid
October and was SO above a month
earlier. Expressed in 1928 dollars,
the buying power Of the dollar stood
at 1854 cents in October this year,
drop of $50 from a month earlier
and 12.49o below a year earlier.
Automobile Production in the
United States and Canada in the
last week totaled 1865 units, a
new postwar. high, which compared
with 110,759 in the preceding week
and 96,887 in the like 1916 period
Wards Automotive Reports. The
previous postwar high of lis. 5.197 was
set in the week ended November %.
A Decline in Profits of depart
ment and speciality stores was re-
ported by the Controllers Congress
of the National Retail Dry Goods
Association. Profits of 1876 indie
pendent stores with a total volume
OF $1,434, 100000 in nine months
ended October 81 amounted to 3.9%
of total sales VS., $50 year earlier.
New Corporate Securities offered
for cash sale in the first nine
months of 1947 totaled $3.50 600, 900,
a drop of $1,000, 100000 from the
same 1916 period-Securities and
Exchange Commission.
Refined Copper Shipments to con-
sumers in November totaled LOG, 1882
tons VS.. 1880 in the preceding
month-Copper Institute.
Seaboard Air Line Railroad re-
.ceived ICC permission to issue
$500, 900 of equipment trust certifi-
Gates.
Cone Mills Corp, with an auth
orized capital stock Of $50,000,000
will take over Revolution Cotton
Mills, Proximity Mfg. Co., American
Spinning Co. and Cone Export &
Commission Co. Revolution and
Proximity stockholders approved the
merger.
Elliott Co. stockholders approved
an increase in authorized common
stock to 1000, 900 from 436, ,260 shares
and creation Of q new class of
preferred stock. The company will
issue 10000 shares of cumulative
preference stock ranking Junior to
present SO preferred.
Clinton Industries, Inc, stock
holders will vote December % on
proposed exchange of company
stock for shares of Obear -Nester
Glass Co.
National Battery Co. declared
quarterly dividend of so cents, pay
able February 2. The company paid
40 cents each in two preceding
quarters and 80 cents previously.
Patchogue-Plymouth Mills Corp.
declared a cash dividend of So on
common stock and 81 payable in So
preferred stock, both payable De-
cember n, raising 1947 cash divi-
dends to SIT vs.. 50 in 1916.
Easy Washing Machine Co. de-
clared q dividend Of $1.37h on class
A and class B common stocks, pay
able December 20, lifting 1947 pay
ments to 50 VS.. Is cents last year.
Laclede Steel Co. declared a divi-
dend Of SIPS common share, pay
able January 8, raising 1947 decla-
rations to $3.50 VS.. $15O in 1946.
Bel Telephone Co. of Pennsylvania
earned $11,138,496 in 10 months
ended October 81 VS.. $11, ,366,894 q
year earlier. -. pre-
Northern Pacific Railway net In
come for 10 months ended October
81 was $3.50, ,370 or 1888 a share Us.
S., ,083,2 or $205 In the same 1916
period.
Standard Kas & Electric Co. and
subsidiaries earned $3,953,372 in
nine months ended September 80
vs.. 81, ,281 ,639 a year earlier.
Middle West Corp. profit for nine
months ended September 80 was
$2,16l,1 Ito or IS cents a share VS..
81 ,903 1868 or 81 cents in the same
1946 period.
American Hawaiian Steamship
Co. earned s1,475.79O or $3.50 in
nine months ended September 80
VS.. $1,030,783 or $2.48 a year earlier.
Divco Corp. profit for IL months
ended October 81 was S1,415,25O or
$S.l4 VS.. $954,13o or $2.12 in the pre-
ceding fiscal period.
Pitney-Bowes, Inc. earned $685.
1874 or 81 cents in six months ended
September 80 vs.. $265, $40 or 20 cents
a year earlier.
Nash -Kelvinator Corp. appointed
Carl j. Barbee general manager of
the Kelvinator, Ltd, plant at Crewe,
England.