Evening star., 1947-12-12
Business Briefs

Money in Circulation expanded
to S20,874 100000 on December TO-
a gain of S570O0,O00 from a week
earlier, but remained $4,000
below a year earlier-Federal Re-
serve Board.
Wholesale Price Index of the Bu-
reau of Labor Statistics reached
1917 of the 1926 average on De-
cember 6, new postwar high, and
less than 40 below the alltime
high OF 1872 in May, 1920. The
index was 80 above week earlier
30 above a month earlier, and
1917 above a year earlier.
British Steel Production in No
vember rose to 1.181,166 tons, an
all-time record for the month. United
States steel output of 7249,523 tons
was a peacetime record for the
month.
Christmas Bonuses we're announC-
ed by the New York Stock Exchange
Atlantic Sz Pacific Tea Co., Grand
Union Co. and Colgate-Palmolive-
Peet Co. The exchange will pay a
weeks salary for service of a year
or longer
New York Stock Exchange Mem
bership was sold for $4,000, a gain
of $4,000 from the last previous sale
The 1947 low of $4,000 was set in
June
Toledo Edison Co. asked SEC per-
mission to borrow $6,200,000 from
five banks headed by Chase Ma
tional Of New York. The money
will be used for construction.
Deep Rock Oil Corp. will increase
tank wagon prices 11a cents a gallon
on all grades of gasoline and 1s
cents on diesel fuel, tractor fuel
range oil and heating oil Monday.
MARYLAND Drydock Co. stockhold-
ers will vote March II on a plan to
increase common shares to 100000
from 10000 by the issuance of two
new shares for each share OF the old.
PhilcO Corp. sales for 1947 should
run we'll above $215,000,00 or almost
three times 1941 volume, President
Ballantyne reported to stockholders
International Shoe Co. sales in IL
months ended November 30 set an
all time record of S212,000,000, a
jump Of 579o over the previous fiscal
year.
EndicOtt Johnson Corp. declared
an extra dividend of so cents and a
regular quarterly of 40 cents, both
payable January l. Profit for six
months ended May 80 was $1,778,735
or S201 share. No comparisons
with a year earlier were given.
National Pressure Cooker Co. in
creased the quarterly dividend to IS
cents from so cents, payable Decem-
her 81. A 2-for-1 split was approved
in November but no new shares
have been issued.
Sinclair Oil Corp. declared an ex-
ira dividend of Is cents and regu-
lar quarterly of Is cents, both pay
able February IA. No extra was
paid year earlier.
Container Corp. of America de-
clared an extra dividend of $1.50 a
common share. payable December
26, raising 1947 dividends to $3.50
VS.. $3.40 in 1916.
American Hard Rubber Co. de-
clared a dividend of so cents a COM
mon share, payable December %,
first payment on the stock since
1945.
United States Smelling, Refining
g. Mining Co. earned S3,927, $50 or
$459 a share in II months ended
November 80 VS.. $2,311,758 or S1.53
. year earlier.
Farnsworth Television & Radio
Corp. profit for six months ended
October 81 was $538.356 or 80 cents
vs. a loss of $259,075 in the same
1916 period.
Wentworth Mfg. Co. earned 1885,
287 or $1.99 in II months ended Oc-
tober 81 VS.. s82e, ,261 or $1.92 in the
previous year.
First National Bank of Boston
elected Lloyd De Witt president to
succeed Charles E. Spencer, jr., who
bocomes board chairman.