Evening star., 1947-06-29
Business Briefs

ANdtAundI fhooUtldklutI vi uFcAkASS
ing Agents, noting a continued de-
cline of industrial inventories this
month, commented Apparently
many plants have reached or, are
approaching a balanced operating
minimum in raw materials" Prin-
cipal reasons for the curtailment,
according to the associations busi-
ness survey committee, are better
supplies of materials, desire to re-.
duce high-cost investment, and ex-
peetations of lower prices or better
quality.
New York Copper Prices held
steady this week at 211a cents
pound, Connecticut Valley base,
with nearby supplies still below de-
mand. Interest in forward business
was slight; however, as the brass
and wire mills approached their
general vacation period
Automobile Production in the last
six months was at yearly rate of
approximately 4.700, 900 vehicles, the
Associated Press reports from De-
troit. This rate has been exceeded
only three times: in 1929, with an
output of 1888, ,420; in 1898, with
4,807, ,974, and in 1941, with 4,S38,56l.
Automobile Production in the
United States will total 74624 pas
senger cars and 24,177 trucks VS..
74,l67 cars and %, 036 trucks last
week-Automotive News Chrysler
Corp. and Nash Motors closings for
at least two weeks increase the odds
against record output in the last
half, the magazine said.
Armour g. Co. sued the Recon
struction Finance Corp. in Federal
Court, Chicago, yesterday for $780,
802 which the company claims is
due in slaughtering subsidies from
September ! to October IA last year.
The suit also asks injunction TO pre-
vent enforcement of an RFC regu-
iation. announced March 81, barring
subsidy payments to packers for
meat sold at uncontrolled prices.
French, Shriner & Urner an
nounced an increase of about 81 q
pair on shoes in the $l5.75-$17.e5
price range.
British Food Ministry is increas-
ing the sugar ration from to 10
ounces a week. effective July 20.
Extra sugar will be allowed to bakers
and confectioners.
General Petroleum Corp. will pay
20 cents a barrel more for all grades
of crude oil purchased in California,
effective July l. The same date,
sales prices for heavy fuel oil
throughout the Pacific Coast area
will be increased 30 cents a barrel.
Oil, Paint and Drug Reporter gives
its price index for chemicals and re-
lated products at 1927 for the week
ended June 26, VS.. 1435 the week be-
fore and 1853 a year before.
President Truman yesterday signed
into law a bill extending for two
years the Governments authority to
operate a tin smelter at Texas City,
Tex.
Tennessee Railroad and Public
Utilities Commission has denied a
25Go increase in intrastate freight
rates, comenting: "The railroads in
Tennessee are generally in thriving
condition, although the Nashville,
Chattanooga & St. Louis Railway is
somewhat less prosperous while the
Tennessee Central is in a rather
grave plight"
Western Air Lines, Inc, reported
net loss of $3.50, 1868 in the first 1947
quarter, VS.. a loss of 1898 1886 in the
first quarter last year
Freight LOadings in the week
ended June 81 totaled 90l, 1886 cars,
a gain of 0.7qo above the previous
week and so above year ago-As-
sociation of American Railroads.
Columbia Pictures Corp. regis
tered with the SEC 24,S32 common
shares to be sold by stockholders
on the New York Stock Exchange
or otherwise The shares were is
sued as stock dividends.
Babcock & Wilcox Go. declared a
dividend of 81 common share, pay
able July 81. Previous quarterly
no .-ynnats ypora S0 cents