Evening star., 1947-09-14
Business Briefs
Rubber Consumution.

both natural and synthetic supplies,
declined in July to 78.309 long tons
VS.. 5,109 in the previous month
Commerce Department Natural
rubber accounted for 5l4T of the
total in July VS.. 50% in June.
Smaller Foreign Trade in July was
due mainly to decline in the move
ment Of crude materials-Census
Bureau. Exports dropped to $1.139,-
100000 VS.. $1,22S, 400 900 in June,
while imports sank to $444, 300, 900
from $472, ,700,0 900 in June.
Farm Employment in the United
States stood at 11,132.000 on Sep
tember /, a gain of 21,000 from a
year earlier. Included were 2.873,-
600 hired workers, an increase Of
$4,000 from a year earlier.
Duquesne Light Co. received SEC
permission to sell $75,000. 900 of 80
year first mortgage bonds at COM
petitive bidding to finance redemp-
tion Of its 3h% first mortgage
bonds of 1865.
Duke Power Co. received FPC per-
mission to issue 10000, 900 of 2.65x
first and refunding mortgage bonds,
due 1877, and 252.5l2 additional
common shares. Duke Endowment
would buy s30,000.000 of the bonds
and the remainder would be sold
privately. Present holders would be
offered a new common share for
each four held at a price Of $3.50
a share.
Baltimore & Ohio Railroad was
authorized by the ICC to issue
IS, 100000 Of equipment trust GER
tificates to purchase new equipment,
Chesapeake & Potomac Telephone
Co. of Virginia received permission
of the Virginia Corporation Commis-
sion to borrow another 100000
from A. T. & T. at 2.75To interest
to finance plant improvement.
/ Texas Power & Light Co. regis
tered with the SEC $8,000,0OO of 30
year first mortgage bonds to be sold
at competitive bidding to finance
expansion.
Morris Plan Corp. Of America
asked SEC permission to withdraw
registration of $4,000, 900 of deben-
lures because of market conditions.
Federal Light & Traction Co. dis
solution and redemption of its pre-
ferred stock at 500 a share plus
accrued dividends was approved by
the SEC.
Duplan Corp. stockholders will
vote October on a proposed 2-and-1
split In common stock. Authorized
shares would be increased to 1,00o,-
900 from 100000.
Houshold Finance Corp. declared
a dividend of so cents common
share, payable October Is. The firm
paid As cents in july and April.
Bond Stores Co. sales in August
totaled s4,284,o34. drop of 1861
from year earlier: in eight months,
$47.285, ,525, a gain of 121%.
Sterchi Bros. Stores sales for Au-
gust totaled SHILOH. decline OF
TO from year earlier; for eight
months, $8,6s4,555, an increase
of 10.
American Power & Light Co. and
subsidiaries earned $5,308,202 in
three months ended June 80 VS..
SIS, ,308,510 a year earlier.
J. p. Stevens & Co., textile con-
cern, estimated profit for three
months ended August 2 was $685.
GAL or s1.93 a share. Sales totaled
$51, ,767,578 Comparisons were un-
available because of the recent re-
organization. ~
Mercantile Stores Co. earned ST.
410,l96 or 81 cents in six months
ended July 81 VS.. $3,24l,68l or s2.18
year earlier.
Universal Leaf Tobacco Co. profit
for IL months ended June 80 was
81 sol ,081 or s702 VS.. $1,492,415 or
s696 in the preceding fiscal period.
PCA-Capital Airiines reported a
deficit of $2,529,617 in the first half
of 1947 vs. a loss OF s747,763 in the
same 1946 period. Loss for the June
quarter was $197,6 vs.. a loss of
$118,443 in the 1916 period.
Braniff Anyways deficit for the
June quarter was $164,047 VS.. loss
of $17,457 a year earlier.
Ruud Mfg. Co. earned s333,921 or
1894 in IL months ended June 80 VS..
$l45, 1852 or sl45 in the same 1916
period
Columbia Steel Co, subsidiary
of United States Steel Co.. will build
a cold reduction mill with a capacity
of more than 100000 tons of sheets
a year in the Los Angeles area.
Brown Co. announced it's subsidi-
ary, Brown Corp, had sold its Ber-
simis timber interests in the prov
ince of Quebec to Anglo-Canadian
Pulp & Paper Mills. Ltd, and DON
nacona Paper Co., Ltd.
Arabian American Oil Co. elected
Robert I. Brougham financial vice
president. He was formerly foreign
exchange manager Of Standard Oil
Co. (New Jersey.
@Ls r~-.-