Evening star., 1947-06-15
Business Briefs.

Business Briefs
Automobile Production In the
United State and Canada totaled
90. III units in the last week VS..
SO, ,49o Ia the preceding week, 50,206
q year ago and 134,682 In the like
1s41 week-Ward's Automotive Re-
ports.
Bituminous Coal Output for the
week ended June approximated
1880 600 tons VS.. 12,050, 900 in the
previous week and 12,742, 900 year
ago-National Coal Association.
Newsprint Production of North
America set new record of 486 ,399
tons in May, including 1884. $50 from
Canada and 73,498 from the United
States, and compared with 457.673
tons a year ago-Newsprint Service
Bureau.
Stock Exchange Memberships
sold for $58, 900. $4,000 and $62, 900
in three transactions Friday. An
other sold for $4,000 earlier in the
week, gain of $4,000 from the pre-
viouS transfer.
Cliffs Corp. stockholders approved
merger with subsidiary, Cleveland
Cliffs Iron Co. by a vote of 546,861
to 155, ,432. Holders of the subsidiary
are expected to approve the merger
tomorrow.
West Point Mfg. Co., one of the
South's largest cotton textile firms,
has acquired Columbus Mfg. Co.
for reported $1,000, 900.
Crane Co. is reported negotiating
with Bubbink Co. of Doespurg, HoI-
land, to build and jointly operate
Hollands first wire and pipe fitting
factory.
Mississippi Power Co. asked SEC
permission to issue and sell at COM
petitive bidding $2,500,000 of 3Aqs
first mortgage bonds to help finance
its three-year, $40 1886, 900 construc-
ton program.
Beech Aircraft Corp. asked SEQ
permission to withdraw its registra-
ton covering $4,000 of 41a% con-
vertible sinking fund debentures.
Pennsylvania Power & Light Co.
earned $7,080,301 or $2.04 share
in IL months ended May 81 VS.. So
400, ,729 or $1.34 in the previous year.
Oklahoma Natural Gas Co. net
income for IL months ended April
80 was $2,961 ,221 or $3.06 VS.. $2,700,-
367 on fewer shares in the preceding
fiscal period.
Hayes Mfg. Co. earned $558.357 or
SO cents in the March quarter VS.. a
deficit of $74,712 a year ago.
Goebel Brewing Co. profit for the
March quarter was $314,738 or %
cents VS.. $178,989 or Is cents in the
same 1916 period.
Dominion Stores, Ltd, , earned
$760,92 or $2.46 In SO weeks ended
March % VS.. $3.50, ,8o4 or S1.55 in the
previous year:
Federal Screw Works declared an
extra dividend of $1.121a common
share, payable June 27. A regular
quarterly dividend of 1914 cents was
paid yesterday.
Mutual Life Insurance Co. an
nounced that insurance in force has
passed the $4,000 ,000,00 mark and
HOl1CyllOlQClS CASCCo 4,oVo,Voos
Trans World Airlines announced .
cut in air freight rates for trans
continental shipments, effective
August /. New rates will average
20 cents a ton-mile VS.. the present
26.5 cents.
Standard Oil Co. of California cut
prices of Atlas tires an average Of
nv nj -, eaye,, u,ac+or,, cfotes and
reduced tube prices an average OF
20@a.
Nopco Chemical Co. cut prices SIS
to 1879 on several groups Of vitamin
products used in poultry and animal
feeds and in pharmaceuticals.
Peabody Coal Co. called for pay
ment on July 30 all outstanding
shares of class A common at par Of
81 900 as initial step in its recapi-
talization program.
Montgomery Ward & Co. sued Is
officers and former officers Of C1O
union for 100000, alleging the mail
order company was libeled In q
union publication. The union
named was the United Mail Order,
Warehouse and Retail Employees
Union, local 20, of Chicago.
Greyhound Corp. asked ICC help
to save $4,000 in Federal stamp
taxes by modifying the terms Of ap-
proval of a proposed issue of $780,
060 common shares.
Bankers Trust Co. elected to the
board Justin r. Whiting, president
of Commonwealth & Southern
Corn