Evening star., 1947-02-05
Business Briefs
and Truck Production

Automobile and Truck Production
with a wholesale value of $4,000,-
600 900 is in prospect for this year,
the Associated Press reports from
Detroit. To produce the expected
100000 units the industry will need
a lot more steel, copper, lead and
other material than it is getting
now, the A. P. says, but the manu-
facturers expect to get it.
Steel Scrap Prices have reached
some of the highest figures on
record, Iron Age reports. Pittsburgh
steel companies are paying $36 to 500
a ton to bring in scrap from New
York, Boston and Philadelphia
while Chicago consumers are paying
up to $34 delivered from Texas.
Electric Power Consumption for
the week ended February l totaled
Att ,207, 600 kilowatt-hours, the Edi-
son Electric Institute reported, COM
pared with 1885, ,404, 900 the previous
week and 1892 IT'S 900 the CORE
spending week a year ago.
Sylvania Electric Corp. announced
an affiliation with A. c. Cossor, Ltd,
British radar producer, under which
Sylvania will manufacture marine
radar systems. The British and
American companies will exchange
patents.
National Airlines, Inc, raised fares
"a cent mile, the first general price
increase by IN airline since Sep
tember, 1945.
Budd Co. announced an order
from the Missouri Pacific Railroad
Co. for eight all-stainless steel cars
-four de luxe coaches, two diner
lounges and two sleepers.
New York Cotton Exchange an
nounced sale of a membership for
$1,000, up $500 from the last such
transaction.
Hardware Prices will increase
about 10eo in six months, the New
York State Retail Hardware ASso-
citation was told today in Rochester
by Luther R. Stein of Louisville,
KY, vice president of the Belnap
Hardware g. Manufacturing Co.
Iowa Illinois Gas and Electric Co.
asked the Securities and Exchange
Commission to authorize sale of $22,-
000, 1000 first mortgage bonds through
competitive bidding. The company
also asked to sell $4,000 shares of
500 par common stock to its par
ent company, United Light & Rail-
ways Co., Chicago.
Hummel-ROss Fibre Corp. stock
holders voted to sell the corpora
tion's assets to Continental Can Co.
accepting a plan approved early In
December by the Board of Directors
Fred E. Hummel will serve the Con-
tinental Co. in an advisory capacity
Consolidated Vultee Aircraft Corp
has appointed as director, Joseph
H. Rosenberg, West Coast repre-
sentative of Lehman Bros. and ex-
ecutive vice president of the Bank
of America in Los Angeles.
Newspaper Advertising advanced
24.9% in December over the same
month of 1945, Printers Ink re-
ported. November's gain over the
year before was 1867.
McCrory Stores Corp. reported
sales in January totaled $5,518, ITO
up 12.1% over the same month ir
1916.
Newport News Shipbuilding &
Drydock Co. billings in the last quar-
ter of 1916 totaled $15,973,000, OF
which $6,470,000 was in shipbuilding
CONTRACTS. Ship repair and n1iscel-
1apeo,, u,ork accounted for the ball
ance.
Dow Chemical Co. reported net
earnings of $6,099. .205 for the six
months ended November 80. equal
to $4.40 a share. VS.. $3,721 800, or
s249, in 1945. Involved were portal
to-portal pay amounting to $781 .42l
and $552 ,742 for veterans bonuses.