Evening star., 1947-01-12
Business Briefs
Construction Expenditures !!

DUS9IiCSS 01ICfS nE
Construction Expenditures in is47
will Jump to $40, ,000, ,000, 900. highest
mark in history and 26% above 1896
according to forecast by Archie
tectural Forum. Residential build-
ing will total $500. 900, 600, nearly
double 1916. the magazine predicted.
Mid-Winter Crop Conditions af-
fecting prospects for 1s47 are fully
as promising as those preceding any
recent record crop year-Agricul-
ture Department. An ample supply
OF moisture in most areas was re-,
ported. ,srs
Indicated Orange Production for
the current season Is 118, 8,73o,0 600
boxes, gain of 9ee over the pre-
vious record crop.-Agriculture De-
partment. The 1854 annual aver
age was 78,470,000. = :
Automobile Output in the United
States this week totaled only 70.985
units because most Of General Mo-
tors divisions were closed for in.
ventory and model changes es.-Auto-,
motive News. The preceding holi-
day weeks total was only 47,118,
units.
United Airlines plans to sell,
around $10,000,000 worth of pre-
ferred stock, President w. A. Pat-g
terson announced. A registration
statement Is being prepared. ri
Swift & Co. will offer $35, 600, 900
of 25-year 25s% debentures at 1904
and $l5,000000 Of serial debenturese
at par, with coupons ranging from
LIZ to 1879, probably Wednesday,
Tsumed, Corp, Ltd, has been or
ganized by American Metal Co. and
Newmont Mining Corp. to operate
the former German-owned Otavi
lead and zinc mine in Southwest
Africa, which the two American
firms have acquired for around S4,-
040, 900. 1t will cost another $4,000,-
900 to rehabilitate the mine for full
production by the end of 194s. ..
General Portland Cement Co. will
be formed by consolidation Of three
companies, Signal Mountain Port
land Cement Co., Florida Portland
Cement Co. and Trinity Portland
Cement Co., if stockholders approved
at meetings in February. The new
firm will be one of the largest ce-,
ment producers in the South.
Southern Pacific Railroad asked
bids on $500 new freight cars, more
than doubling its already heavy
postwar buying program.
Kroger Co., increased the quarter
ly dividend on common stock to so
cents from so cents previously paid,
with a declaration payable March /.
Miles Shoe Co., Inc, declared an
extra dividend of IS cents and
regular quarterly of 20 cents, both
payable January 81. -
United Corp. dividend of rs cents
on its So cumulative preference
stock was approved by the SEC.
Puget Sound Power g. Light Co.
declared dividend of 20 cents, pay
able February Is. Previous pay
ments were Is cents.
Western Union Telegraph Co. re-
ported net loss Of 81, ,573 ,084 for
II months ended November 80 VS..
net income of $3,251, ISL in the same
1945 period. Recoverable 1914 in
come taxes will cut the current loss
to $9,074,9 1886. a
Engineers Public Service Co. and
subsidiaries earned $8,410,28 or 1929
a share in II months ended Novem-
ber 80 vs.. $6,586,058 or $2.34 in the
previous year.
Virginia Electric & Power Co. net
income for II months ended Novem-
ber 80 was $6,567 $40 VS.. $5,75S, ,153
in the preceding fiscal period.
Cleaner Harvester Corp. earned
$179,107 or so cents in three months
ended December 81 VS.. $7,972 or 2
cents q year earlier.
I Waigren Co. sales for December
totaled $l7,531 ,658, gain Of 13.1%
from year ago; for 1916, $147,243,-
1872, an increase Of 206T from 1945.
Colonial Stores sales in four weeks
ended December 28 totaled $12,611,-
929, a rise Of 27.6% from year ago;
in So weeks ended the same date,
$126, ,555 1927, q gain Of 27.6% from
the previous year.
Bond Stores Co. sales for Decem-
ber totaled $8,892,075 jump OF
56.8% from year ago; for 1946.
1855, ,295, an increase Of $3.50
from 1945. ~
Hershey Chocolate Co. president,
William F. r. Murrie, announced he
will resign effective March "a be-
cause of Ill health.
Philadelphia and Reading Coal B.
Iron Co. appointed C. H. Stephens
sales manager to succeed j. T. Berta,
who was elected president Of Penn
sylvania Coal & Coke Corp.