Evening star., 1947-10-20
Business Briefs
Cash Dividends paid by 8O5 c

panies listed on the exchange to-
tailed S2,152, ,265, 900 in nine months
of 1947, an average gain of 2l.5eo
from year earlier-New York Stock
Exchange. Nearly $50 of listed
stocks paid dividends in the Pc
riod. Dividends of textile producers
showed the largest increase.
Federal Home Loan Bank Lending
reached a record high of $345, 900, ,O0o
on September 80 VS.. s235 100000 a
year earlier and a wartime low of
s51,OO0,OOO in May, 1945. The rise
was attributed to continued housing
demand.
Sunray Oil Corp. announced plans
for merger of Pacific Western Oil
Corp. and Mission Corp. The en-
larged company with assets of more
than s210.O0o,0OO will have Its
corporate home in Tulsa,
Standard Oil Co. of Indiana de-
clared an extra dividend of Is cents
and regular quarterly of 3712 cents
both payable December 10.
Cleveland Electric Illuminating Co
decided to postpone its plan to re-
fund 254,989 shares of $3.50 preferred
stock because of unsettled market
conditions"
Alabama Power Co. received high
bid of 10O.391 for slO,0O0,000 of 31a
per cent bonds from First Bostor
Corp. and associates.
Metropolitan Edison Co. received 9
high bid of 1008l for $4,500000 o1
30-year per cent first mortgage
bonds from Idder. Peabody e. Co.
Public Service Co. of New Hamp-
shire will construct $5,000,000 mer-
curry cycle generating plant on Ports
mouth tidewater land. 1t is expected
to require only 80 per cent of the
coal used in steam plant.
Atlantic Refining Co. earned
sl0,837 900 or $3.50 a share in nine
months ended September 80 VS.
1892, 900 or $158 a year earlier.
Westinghouse Air Brake Co. profit
for nine months ended September
80 was $9.7S0,117 or $3.08 VS.. Sc, 6,74S,-
715 or $2l3 in the same 1916 period
Detroit Michigan Stove Co
earned s1,7oO143 or sits in nine
months ended September 30 VS.
Sl254.39l or $1.28 a year earlier.
Sloss- Sheffield Steel g. Iron Co
profit for nine months ended Sep
tember 80 was ST 1852 $50 or s255 VS.
S294,816 or SO cents in the same 1916
period
Nehi Corp. earned s1,388,316 OF
s1.35 in nine months ended Septem-
ber 80 VS.. $1,096, 1872 or $1.06 yea1
earlier.
Interstate Bakeries Corp. net in
come in 40 weeks ended October
was s1,o44,672 VS.. s927,154 in the
same 1916 period.
Magma Copper Co. earned $751;.
778 or s1.84 in nipe months ended
September 80 VS.. s255, ,405 or 62 cents
a year earlier.
p. HI. Butler Co. net for nine
months ended September 27 was
$357 1892 or $2.o4 VS.. S251 $50 or Sis;
in the same 1916 period.
American Hide e. Leather Co
earned $275 ,459 or 80 cents in three
months ended September 80 VS.. Q
deficit of S129,197 year earlier.
Jewel Tea Co. sales in four weeks
ended October 4 totaled $40, ,180, ,295
a gain of 48.4ao from a year earlier;
in 40 weeks ended the same date
s94,651,96S, a jump of 516%.
American Colortype Co. sales in
three months ended September 80
totaled s5,931, $50, a gain of 239o
from a year earlier; in nine months
ended the same date, sl3,865 OIL, an
increase of 22.59s.
Northeast Airlines carried 27,666
revenue passengers in September
VS.. 38,092 in the preceding month
and 45,331 in September. 1916.
Commonwealth e. Southern Corp.
Of New York elected Justin r. Whit
ing board chairman and Granville
H. Bourne PRESIDENT.