Evening star., 1947-08-04
Business Briefs
Steel MIL Operations for the ,

rent week were scheduled at 94S%
OF capacity. indicating production
of 1,66o, TOO net tons-American Iron
& Steel Institute. Figures last week
were S4.4qa and 1861 900 tons: a
month ago. 1897 and 1880, TOO; a
year &go, 89% and 1,56S 500.
Electric Power Companies are
spending at the fate of 81. 900 900 900
year for new plant facilities-
Edison Electric Institute. The rate
will continue for at least five years
more. said President Charles E.
Oakes.
Superior Oil Co. California; de-
clared a dividend of 50 a common
share, payable August IS. First pay
ment of 1s47, it compares with so
cents in 1916.
Dana Corp. will distribute 600, 200
additional common shares August
rs to stockholders Of record August
II at the rate of two-thirds of a
share for each share held.
American IL Foreign Power Co.
received SEC permission to issue and
sell $35, 1000, 900 of 31a % sinking fund
prior debentures for refunding pur-
poses.
Charles Pfixer b Co. Is negotiating
with Emerson Drug Co. of Baltimore
to purchase Citro Chemical Co. of
Maywood. N. j.
Owens Illinois Glass Co. has pur-
chased American Coating Mills, Inc,
manufacturer of clay-coated fold
ing cartons and carton board.
Dow Chemical Co. earned $12, 2,729,-
s9l or $9.22 a share in IL months
ended May 81 VS.. $6,707,214 or $4.40
In the previous year.
Mid Continent Petroleum Corp.
profit for the first half of 1947 was
S8,044,422 or $487 VS.. 81, ,304 or
1886 in the same 1916 period.
Hudson Bay Mining b Smelling
Co. earned $6,o46,157 or $2.1s in the
first half Va. $3,S9s, ,e06 or $1.41 a
year earlier.
Atlantic Refining Co. and sub
sidiaries had net income of 1924
965 or $207 in the first half VS..
$5,146.327 or SITS in the same 1916
period.
Sharon Steel Corp. earned $685.
165 or $5.48 In the first half VS.. $685.
634 or "a cents a year earlier
Bower Roller Bearing Co. net for
the first half was $1,369, 1873 or $3.04
vs.. $456, $50 or $1.01 In the same 1916
period.
American Light d Traction Co.
and, subsidiaries earned $5,449, ,199
or $1.6a In IA months ended June
80 vs.. $5,30e,116 or $1.63 IN the
previous year.
Houdaille- Hershey Corp. and sub
sidiaries had net income of $1,746,-
57s or $1.s5 In the first 1947 half
VS.. $2li, $40 in the same 1946 period.
American News Co. and subsidi-
aries earned $1,373,144 or $1.63 in
the frst half VS.. $2,495, ,o35 or 1896
q year earlier.
Nehi Corp. net for the first half
was $745,038 or II cents VS.. $685.
$40 or 63 cents In the same 1916
period.
Bon Ami Co. earned 1868 800 in
the first half VS.. $798,743 a year
earlier.
Knott Corp. net for the first half
was $56s,04s or 1913 VS.. s553, ,261 or
$50 in the same 1916 period.
Real Silk Hosiery Mills, Inc, earn
ed $4s4, ,611 or $2.59 in the first half
VS.. $467 ,s7o or $2.43 year earlier.
Spiegel, Inc, profit for the first
half was $373,535 or 8 cents. in
cluding sl84,sos OF net capital
gains, vs.. $1,126,2S5 Or So cents in
the same 1916 period.
Melville Shoe Cerp. sales in four
weeks ended July 26 totaled s4,377,-
045, . gain of "A per cent from q
year earlier; for the year to date,
$50, 10, ,S21, an increase Of 1877 per
cent.
Otis Elevator Co. elected L. w.
Comm and L. w. Whitton vice presi-
dents.
Zenith Radio Corp. elected Orrin
Z. Wolf, j. E. Anderson and Willy
Dumke vice president.