Evening star., 1947-01-26
Business Briefs

Automobile Production in the
United States totaled $500 units
in the last week VS.. 70,6l8 In the
preceding week-Automotive News.
Cleveland Electric Illuminating Co.
won ruling from the Ohio Public
Utilities Commission that rates re-
quired by 1914 city ordnance were
unjust and unreasonable" Under
the ruling. 5000, 900 held in trust
will revert to the company instead OF
being distributed to consumers.
Gulf, Mobile & Ohio Railroad has
contracted for $25,683,0 900 worth Of
new equipment and planned sub
stantial modernization program in
expectation of an early merger with
the Alton Railroad, President Tigrett
announced. All of the equipment
was ordered in 1916.
Louisville & Nashville Railroad
placed orders for 5000 new units of
freight equipment at cost of more
than 100000. 1t also asked ICC
permission to spend 100000 for a
spur line to new mine of Console
dated Coal Co. at Deane, KY.
Miller & Rhoads, Inc, offering Of
$4,000 preferred shares will be
underwritten by syndicate of seven
Richmond firms.
Kingan & Co., Inc, registered with
the SEC 1854 shares of S100 par 4eo
cumulative convertible preferred and
174,625 shares of $40 par common
stock to be offered by stockholders.
Pennsylvania Railroad net operat-
ing income for 1916 was $25,917 ,224
VS.. $87,180,539 in 1945 and $108,-
972,066 in 1914 Gross totaled $822.-
007, ,585 VS.. $936,453,41l in 1945 and
81 $1,010,015,912-in 1914.
Caterpillar Tractor Co. earned
$6,111 ,591 or $3.25 a share in 1946 VS..
$G,51 1895 or $346 in the previous
year.
Cuneo Press, Inc, profit for nine
months ended September 80 was
$2,131, ,091 or $232 VS.. S1,885,254 or
$204 in the same 1945 period when
1888, ,427 from sale of capital assets
was included.
Hooker ElectrOchemical Co. earned
1854, ,018 or $442 in IL months
ended November 80 VS.. $1,078,286 or
$258 in the previous year.
Baltimore Transit Co. profit fd
1916 was $1,885,449 VS.. $1,458, ,456 in
l945. Operations of Baltimore Coach
Co. were included.
Leslie Salt Co. earned $712,342 or
$2!45 in IL months ended October
81 VS.. $576,031 or $198 in the pre-
vious year.
Lehn & Fink Products Corp. profit
for six months ended December 81
was $155,035 or 38 cents VS.. $142,691
or IS cents in the same 1945 period.
Public Service Co. of New Jersey
earned $23.841,656 or 1884 in 1946
VS.. SIS 1896 ,081 or Sill in the previ-
Gus year.
Tampa Electric Co. net income for
| 1916 was $1,637,598 or $274 VS..
1,189 ,495 or $199 in 1945.
American Express Co. announced
its first pleasure tours to Europe
since the war would start next
month with 10, is and 81 day winter
holiday air tours to Switzerland.
Eastern Steamship Lines an
nounced a series of six-day, round-
trip cruises from New York to Mas
sau will start February 49,
Gustin- Bacon Mfg. Co. Of Kansas
City, Mo-, arranged 81 100000 loan
from Prudential Insurance Co. to
finance plant expansion.
General Phoenix Corp. stock
holders approved Redistribution Of
Glass A common and common
stocks, an increase in common and
an increase in authorized indebted
ness to $8,O00,000 from $3.00o,0OO
Virginia East Coast Utilities, Inc,
of West Point, Va, was authorized
by the SEC to borrow 100000 from
Baltimore National Bank to retire
bank loan and finance new con-
struction.
Chris-Craft Corp. has purchased
a new plant at Chattanooga, Tenn.
Elastic Stop Nut Corp. elected
John r. Mum board chairman and
William F. McGuinness to succeed
| him as president.