Evening star. [volume] (Washington, D.C.) 1854-1972, 1947-07-20
Business Briefs
Tax Delinquency has declined

DuSinGSS DrGTS
Tax Delinquency has declined for
the thirteenth consecutive year in
the average American city-Dun
& BradStreet. The average of de-
linquency in 1880 was 10.l5So; in
1910, 8.7fo; in 1916, 329e. Among
lit reporting cities, 81. had ratio
of less than 1.5He.
Finished Steel Shipments in the
first four months of 1947 totaled
20, Al. 1927 tons, of which 3,461 ,794
went to small consumers. 1884 .794
to the auto industry, 861,524 to the
oil industry and 686,553 to freight
car builders-American Iron & Steel
Institute. Totals represented gains
of 49, to $50 over the preceding
four months.
Short Interest in stocks listed
on the New York Stock Exchange
totaled 1,4l8,302 shares on July Is,
drop Of 1885 from a month
earlier, first decline since March and
the sharpest since June II, 1916.
Armour & Co. has arranged for
private sale Of $35, 000, 600 of S1sT
cumulative income debentures. sub
ordinated, to group of insurance
companies. Proceeds will be used to
pay accumulated dividends on Sc
preferred and redeem all 10 cumu-
lative preferred stock.
Plywood, Inc, registered with the
SEC 100000 of So sinking fund de-
bentures and 100000 shares of 81
par common stock to finance pur.
chase of all common stock of Kali
pine Plywood Co.. to retire bank
loans and increase working capital.
Virginia Telephone & Telegraph
Co. asked permission of the Virginia
Corporation Commission to issue
s450.000 of first mortgage sinking
fund bonds.
Westinghouse Air Brake Co. de-
clared dividend of so cents a COM
mon share, payable September Is.
Payments of Is cents each were
made in March and June.
Public Service Corp. of New Jersey
and subsidiaries earned $11 ,599, 100
or $1.21 share in six months ended
June 80 VS.. $l3,255, ITO or $1,51 a year
ago.
Owens Illinois Glass Co. and sub
salaries reported net income Of
SIG, 1884 opt or $3.50 IN Ia months
ended June 80 VS.. 10,364, 225 or $500
in the preceding fiscal period.
Detroit Edison Co. earned $11 ,S59.-
248 or $1.86 In IL months ended June
80 VS.. So, 4s0,48l or $1.33 in the pre-
vious year.
Acme Steel Co. profit for three
months ended June 80 was $2,08l,-
1872 or $2.11 vs.. $1,029, 665 or $l.o5
year earlier.
Burroughs Adding Machine Co.
net for six months ended June 80
was $2,651 ,S53 or SO cents VS.. 1851 ,3l5
or II cents In the same 1916 period.
Glenmore Distilleries Co. and
wholly owned subsidiaries earned
81. 1888 or $2.08 on Glass A and B
shares VS.. 1883 PAL or $119 a year
|ago.
Philadelphia & Reading Coal e.
Iron Co. profit for six months ended
June 80 was $1.sl8,731 or $1.34 VS..
$685., 564 or A cents in the same 1916
months
Erie Railroad reported net income
Of $1,763, 1888 for six months ended
June 80 VS. loss OF IS, 1875, 1893 q year
earlier when strike curtailed oper-
atoms
Continental Steel Corp. and subsi-
diaries earned $641 ,454 or $1.28 in
six months ended June 80 VS.. 1891, ia
or 78 cents year ago.
Florence Stove Co. profit for six
months ended June 80 was s622, 454
or $3.50 VS.. a deficit OF $96,37l In
the same 1916 period.
The Bracket Co. earned $3.50 SAB
or IS cents in nine months ended
June 30 VS.. $5lS,Sl2 or So cents q
year earlier.
A. Hollander 4 Son, Inc, profit for
six months ended June 30 was $751;
206 or $1.13 VS.. $3.50, 1891 or $1.44.
CRANKY Consolidated Mining
Smelling q Power Co. earned $li0,-
504 or "a cents In the June quarter
VS.. $27,341 or 6 cents q year earlier.
New York Stock Exchange re-
ported net income Of sac, 1893 for the
June quarter VS.. $500 1897 a year ago
in It's first quarterly report. It had
a loss of $85, 797 in the March quar-
ter VS.. profit Of s343,5 = year
earlier.