Evening star., 1947-06-23
Business Briefs
Steel Mill Operations for the GU

Steel Mill Operations for the cu.s
rent week were scheduled at 1867
of capacity. indicating production o1
1.672 900 net tons-American Iron d
Steel Institute. Figures last week
we're 958co and 1,676.400 tons; a
month ago. 95.4@o and 1869 400; q
wear ago. 1927 and l 1858
Corporate Security Offerings fol-
new money purposes totaled s673,-
100000 in the first 1947 quarter VS.
S247 100000 a year earlier-Secur-
tiles and Exchange Commission
Refinancing issues amounted tc
only s332. 100000 VS.. 1852, ,0O0, 600
Issues to finance new plants and
equipment totaled 1896 100000 VS.
Sl,045, 10000 in the preceding quar-
ter.
The Oil Industry viii Spend a
record $4,000, 100000 for expansion
bv the end of 1948-American Pc
troleum Institute. The outlay VIII
represent more than 22'a OF the
industry's present investment OF
around $4,000 000.000
A Treasury Exchange Offer was
announced for holders of debt GER
tificates. series F-1947. A new ST.
e15,710 900 issue of 7sGo certificates
of Indebtedness will be offered in
exchange on a par-for-par basis.
No cash subscriptions will be re-
ceived.
American Superpower Corp. Of
fered preference shareholders an
exchange plan under which they
will receive common stocks from
holdings in American Gas q Elec-
trio Co., Consolidated Edison and
Philadelphia Electric.
Safeway Stores, Inc, sales in tour
weeks ended June IA totaled $685.
1929. Jump of 42lec from a year
earlier; in "a weeks ended the same
date, s494,37o,657, an increase OF
35.5E.
Remington Rand, Inc, earned
Sl5,727. .578 or S7l2 share in Il
months ended March 81 VS.. S6,54l,-
l3s or 1901 in the previous year.
United States Plywood Corp
profit in Il months ended April &c
was S5.99o70o or $414 VS.. sl,598, 300
or s1.06 in the preceding fiscal pc
riod. Excluding unconsolidated sub
sidiaries, the net was $500 800 OF
s3.7l VS., s1,498,o0o or SO cents.
Consolidated Gas Utilities Corp
net income for three months ended
April 80 was s545 1898 or 81 cents VS.
s348,7l6 or 80 cents in the same l94t
period.
Central Vermont Public Service
Corp. cancelled a dividend of 2
cents, previously ordered paid JUNE
16, because of S703 900 of damage II
an early June flood.
Soya Corp. of America an
nounced it will market new edlblt
virgin oil produced from soyi
beans. The new product is said t
have delicate family nut f1avo
completely different in taste from
commonly known refined soya oils
Dearborn Motors Corp. expects t
spend about $4,000 900 in the mex
10 months on advertising, sale
promotion and sales training pro
grams to market the Ford tracto
and Dearborn farm equipment line
Bristol Brass Co. has cut opera
tions to a four day, 32-hour weel
because of a lack of orders. tn
present lull is only temporary, al
official said.
Chicago, Milwaukee st. Paul 4
Pacific Railroad has put into opera
tion q new streamliaer. the Olymp
ian Hiawatha. which cuts the tim
between Chicago and the Pacifi
Northwest IA hours.
North American Aviation. Inc, ha
received a S5l0,962 contract for
Navions and spare parts for use b
the Army Ground Forces and Ma
tional Guard.
Burlington Mills Corp. appointe
Kenneth Collins vice president Il
charge of public relations and ad
vertising.
Eastman Kodak Co. elected Don
aid MoMaster vice president an,
assistant general manager.