Evening star., 1947-01-21
Business Briefs
Catfan Sninninp lneratinns

Cotton Spinning Operations in De-
cember we're at 107.89o of capacity
vs. 1852 in the previous month and
101.7oo a year earlier-Census
Bureau.
The Government Expects to Spend
$1,000, 100000 in 1s47 for supporting
prices of farm products, declared
J. o. McClintock, new president Of
the Chicago Board of Trade. Are
farm families in such needy circum-
stances that there is justification in
taking money from moderate in
come wage earners for their bene-
fit?" he asked
French Textile Interests arranged
through Lazard Freres and Gle and
London banking interests for a re-
volving credit of $50,000,000 to
finance purchases of wool within the
British Empire during the next year.
United Corp. stockholders will
vote April 9 on plan for future
operations as an investment COM
pany.
Old Town Ribbon & Carbon Co
offering of 100000 shares of S. par
common stock was marketed at $1e
q share by First Boston Corp. and
neers Public Service Co.
Gulf States Utilities Co. registered
with the SEC 1905, 1868 common
shares to be offered at $11.50 share
to common stockholders of Engi-
neers Public Service Co.
United Air Lines filed with the
SEC plans for SAG, 5000 of new
financing. Stockholders will be Of
fered 94,773 shares of cumulative
convertible preferred stock, $12 2,000,-
600 of 31a9o debentures will be solo
to insurance companies and the firm
has arranged for a $28, 100000 term
loan for 80 banks.
Burlington Mills Corp. has sold
$15,000,00 OF sinking fund notes, due
1852 through 1867, to Prudential Life
Insurance Co. Proceeds will be used
for working capital and expansion.
New York State Electric & Gas
Corp. received a high bid of 102 .26s
for $13,000,000 of first mortgage
~ % bonds from Halsey, Stuart &,
Co. and associates. Reoffering is
planned at 1925.
Omaha Public Power District re-
ceived high bid of 100.04999 for
$42,000,000 of electric revenue bonds
from Halsey, Stuart. The bid was on
a combination of coupons represent
ing a net interest cost to the bor-
rover of 1980999To.
Pan American Petroleum g. Trans
port Co. declared a dividend of 7s
cents common share, payable Feb
ruary "a. Previous payment was 4G
cents.
General - Plywood Corp. declared
an initial quarterly dividend of 2(
cents a common share, payable
March l.
Union Bag g. Paper Co. declared 6
quarterly dividend of SO cents com.
mon share, payable March Z. Las
September, the rate was raised to 2;
cents from Is cents. Extras of 2;
cents each we're paid in September
and December.
American Power & Light Corp
earned $26,757,11l in IL month.
ended November 30 VS.. $13,765 ,06t
in the previous year.
Emerson Radio & Phonograpl
Corp. profit for IL months endes
october 81 was ST ,340,356 or $3.35 {
share VS.. $806,697 or $201 in tn,
preceding fiscal period.
Murray Corp. of America earnet
$683,510 or u cents in three months
ended November 80 VS.. a deficit O
1896, ,485 year earlier.
Oliver Iron Mining Co., a sub
sidiary of United States Steel Corp
will spend more than $4,000 900 il
the next six years for research, con
struction and expansion in the fielt
Of iron ore benefication. The pro
gram covers low-grade ores and rec
lamation of fine ores from tailings.