Evening star., 1947-08-05
Business Briefs
ommercial and Industrial Fail

Commercial and Industrial Fail
ures declined slightly to So in the
week ended July 81 VS.. 76 in the pre-
ceding week, but were nearly five
times the IA recorded in the like 1916
week-Dun g. Bradstreet.
Railroad Net Incomes of class I
carriers in the first half totaled
$2O4 100000 VS.. a deficit of $20,60O,-
600 a year earlier-Associati of
American Railroads. June net was
$35, 200, 900 VS.. $14,572, 900.
New Securities Marketed Today
included: $10,O00,0O0 of Lerner
Stores Corp. 80 sinking fund de-
bentures at 100 and interest; 311,361
shares of New England Gas & Elec-
trio Association common stock at
$l1,75 share.
Chicago Transit Board failed to
receive bid for $105, 900 900 of reve-
niue bonds and an investment group
headed by Edward Hall offered to
attempt to sell the entire amount.
Rochester Telephone Co. received
no bid for ST 500 shares of preferred
stock under the restrictions that bids
must not be for less than par for a
maximum 40 dividend rate.
National Union Fire Insurance Co.
registered with the SEC 10000
shares of IS par capital stock to be
offered tnitially to present holders.
American Stores Co. has arranged
for $15,000,000 loan from Metropol-
ttan Life Insurance Co. for expan-
sion purposes. The firm has re-
ceived $7,500.000 at 27sqo and the
balance will be available at 80.
Beaunit Mills, Inc, declared a
dividend of so cents a common
share, payable September 2. The
firm previously paid IS cents
quarterly plus a 50-cent extra in
December. Profit for the June
quarter was $1,184,961 or SIPS VS..
$1,808,340 or $191 a year earlier.
Fajardo Sugar Co. declared an
extra dividend of 81 and a regular
quarterly of so cents. both payable
September 2. Previous payment was
so cents in July. Prior to that the
rate was Is cents.
Gulf, Mobile e. Ohio Railroad
merger with the Frisco is being dis
cussed, officials of the roads an
nounced. A study is being made of
possible benefits.
Socony-Vacuum Oil Co. earned
$4,000, 900 or $1.31 a share in the
first half of 1947 VS.. 1890 900 or
73 cents year earlier. President
Jennings said large part of earn
ings must be plowed back into the
business because of expansion needs.
Proctor g. Gamble Co. profit for
IL months ended June 80 was $32,-
924,174 or SSH VS.. $23,022,241 or
1886 in the previous fiscal period.
Rayonier, Inc, earned S3,845 ,080
or 1874 a share in the first half of
194z VS.. $1,022,6 2,676 or Al cents year
earlier.
United States Plywood Corp. re-
ported a record net income of S.,
$4,000 or $4.1o in IL months ended
April 80 VS.. $I,598, 900 or s1.06 in the
previous year. Record sales totaled
$43,616, ,109 VS.. $27 ,083 ,286.
HARRISON Walker Refractories Co.
profit for the first half was s2,271,-
062 or $163 VS.. $1,072, ,839 or 73 cents
in the same 1916 period.
Pittsburgh Coke g. Chemical Co.
earned $1,864,53S or $3.25 in the first
half, including 81 ,232 1897 profit on
sale of iron properties, VS.. deficit
of $18S,805 year earlier.
Alexander Smith e. Sons Carpet
Co. profit for the first half was $2,-
SIS, ,348 or SITS VS.. $1.498, ,376 or $l.56
In the same 1916 period.
Coleman Co. earned $2,056, 800 or
$5.0S in the first half of 1947 VS.
1882, ,499 or 81 cents year earlier.
Packard Motor Car Co. reported
o deficit of 81 ,872.63 in the first half
VS.. profit of $749,517 in the same
1916 period.