Evening star., 1947-08-10
Business Briefs
labor Productivity Is h

N~SsIfSSS s~ss sSsS
Labor Productivity is higher than
a year ago and will continue to rise
in coming months, according to a
majority of 1000 manufacturing ex-
ecutives in survey conducted by
Mill & Factory. An improved at
titude of workers toward their jobs,
better supervision, more experienced
labor and larger material supplies
were factors cited.
Output of Steel Ingots and steel
for castings totaled 6,572, 1876 tons IN
July VS.. 6,968,665 in the previous
month and $685. ,683 year earlier
American Iron & Steel Institute.
For seven months the total was 49,
855,s3S tons VS.. 33,952,604 q year
earlier.
Chemical Exports are running
4OO%o above. prewar levels, but
European production Is reviving and
the world market may return to a
competitive basis-American Chem
ical Society. A world shortage of
dollars, import restrictions abroad
and two-way trade pacts in Europe
may curb American exports.
Texas Co. was reported planning
to offer stockholders rights to sub
scribe for additional shares in Sep
tember. Details were not disclosed,
Iowa Public Service Co. registered
with the SEC $3,500,000 of 30-year
first mortgage bonds and 109. 1866
shares of SIS par common stock to
finance expansion. The bonds will
be sold at competitive bidding and
the stock offered to present holders
at the rate of one new share for
each five held.
Canadian Pacific Railway an
nounced it would place orders this
month for new locomotives and
freight cars costing more than
$22 500 900, raising 1947 expenditures
for that purpose above SAT ZOO, 900.
Gulf Oil Corp. has raised gasoline
prices " of a cent a gallon and
prices OF kerosene, No. 2 fuel oil
tractor fuel and diesel oil were
boosted 4/10 to 6/10 Of a cent a
gallon in Maryland, Virginia, the
District of Columbia and 10 other
States.
Norfolk & Western Railway ne,
income in July is expected to be
well below the preceding month and
a year ago as a result OF SHARP
drop in freight loadings, partic.
ularly coal.
United States Gypsum Co. profit
for the first half of 1947 was $7,717,-
367 or 1886 a share VS.. $5,447,9 1922 o,
1892 on fewer shares In the same
1946 period.
American Distilling Go. earnee
81 ,067 $50 or $427 a share in nine
months ended June 30 VS.. So, 3,805 ,685
or $3.50 a year earlier.
Beech Aircraft Corp. reported Z
deficit of 81 ,562 $50 for nine months
ended June 80, after a carry-bacl
tax credit Of $2,803, ,805, VS.. profit o.
$102,977 a year ago when tai
credit Of $314,475 was included.
Federal Mining g. Smelling Co
earned s1,211,126 Or s4.s1 in the
first half of 1947 VS.. $624,572 or $25;
year earlier.
Soundview Pulp Co. profit fol
seven months ended July 81 was
$3,580,856 VS.. $945 1893 in the same
1946 period.
Publicker Industries, Inc. earned
81 ,058,380 or Al cents in the first
half VS.. $l1 ,sss ,e62 or $e.o2 a veal
earlier.
Van Raalte Co. net income fol
the first half was 1924 ,465 or $3.5'
VS.. $737,434 or $2.s6 in the same
1946 period.
Potomac Edison Co. earned ST..
1913 ,953 In the first half vs.. 81 49,.
048 a year earlier.
General Cigar Co. net for the frs
half was $s56,547 or s1.44 VS.. $6s1, :
1877 or SLOT in the same 1916 period
Michigan Sugar Co. earned ST..
750,576 or $1.92 in IL months endet
June 80 VS.. $205, 1868 in the previous
year.
Vulcan DEFINING Co. profit To-
the June quarter was $161 ,851 o.
$4.31 VS.. $117,320 or $2.93 in tn,
same 1946 period.
Sheraton Corp. reported prof
from "A hotels of its chain totalet
$6O6 900 in two months of the fisca
year starting May l VS.. $471 900 ne
for the same units a year earlier
Hotel Continental was acquired IL
Chicago this week and renamed th'
Sheraton to raise the chains hold
ings to 20 hotels.
Minneapolis Honeywell Regulator
Co. has delivered its first autopilo
of new design as part Of a $2,O00,'
900 Army Air Forces order for in.
stallation on B-50 and B-36 bomb