Evening star., 1947-11-23
Business Briefs
The Real Causes of Imitation v

DASgEBSSS Ds BSs1
The Real Causes Of Imitation viii
continue unchecked If our atten.
ton is to be concentrated upon ex.
pansion Of Government power and
controls, said President Earl Bunt-
ing of the National Association OF
Manufacturers before the National
Editorial Association at Chicago
"All factors in our economy agree
that more and more production Ii
the way to bring prices down. ha
declared.
Automobile Production set a new
postwar record of 111,22e units u
the United States and Canada last
week VS.. 110.663 in the previoW
week and 96,454 a year earlier
Wards Automotive Reports, New
records set by General Motors Corp
were the principal factor.
International Business Machines
Corp. will declare a dividend of 81
| for the first 1948 quarter when
stockholders approve the proposed
distribution of additional stock at
the rate of y for each share held
The dividend would be equal to
SITS on present stock which has
been paying S1.50. Holders will
vote January 13.
New Orleans Public Service Co.
received SEC permission to sell 199.-
642 additional common shares to
present holders at $25 share.
Southern California Edison Co.
registered with the SEC 100000
shares of $25 par cumulative pre-
ferred stock for sale at competitive
bidding to retire bank loans and
help finance construction.
Pepsi-COla Co. declared an extra
dividend of 25 cents and the regular
quarterly of 17l2 cents, both pay
able December 15 raising l947 pay
ments to 95 cents VS.. 80 cents in
1916.
Virginia Carolina Chemical Corp.
declared dividend of $3.50 on ac-
count of arrears on the So cumu-
lative preferred stock, payable
January 2, leaving arrearages Of
$83 so a share
Youngstown Steel Car Co. de-
clared an extra dividend of 25 cents
and regular quarterly of Is cents,
both payable December 23
Allied Products declared a special
dividend of so cents and a regular
quarterly of 40 cents, both payable
January 2.
First National Stores declared q
dividend of rs cents common
share, payable January q Previous
payments were 6211a cents.
Pennsylvania Coal & Coke Corp.
declared a dividend of so cents,
payable December 18. This will be
the first payment since May, l945.
American Sumatra Tobacco Corp.
declared a dividend of so cents a
common share, payable December
II. Prior to recent 3-for-1 stock
split, the old shares paid 81
quarterly
Chesapeake & Ohio Railway
earned $31, ,123,919 or s39l share in
10 months ended october 81 VS..
$24, ,749, 1893 or $3l0 year earlier.
Dana Corp profit for II months
ended August 81 was $8,2l9 ,568 or
1923 VS.. $706, LOG or 73 cents in the
preceding fiscal year
Northern Natural Gas Co. earned
$6,957 POS or 3.42 in IL months ended
September 30 VS.. $4,710,333 or $232
in the previous year.
F. L. Jacobs Co. profit for three
months ended october 81 was $685.
70 LA oit ~
$58,116 in the like 1916 period.
Hercules Motors Corp. earned
$258,881 or 83 cents in three months
ended September 80 vs. a loss of
1851 ,374 year earlier
FalcOnbridge Nickel Mines net in
come for nine months ended Sep
tember 80 was $691 958 or 81 cents
VS.. $685. or 8 cents in the same
1916 period.
Braniff Airways reported a deficit
of $72,744 for three months ended
September 80 VS., profit of $113883
or II cents year earlier.
Mission Corp. stockholders re-
ceived statement from w. G.
Skelly, stockholder and former
president, requesting proxies au-
thorizing vote against the pro-
posed merger with Surrey Oil Co.
New York Journal of Commerce
announced plans to erect a modern
newspaper plant on Worth Street
near Broadway as part of an ex-
pansion program which included
merger with the Chicago Journal OF
Commerce.
M. LOwenstein & Sons stockhold-
ers approved an employees stock op-
ton plan enabling certain officers
and employees to purchase 10000
shares at $21 share at the close
of 1947, 1948 and 1949.
Quaker Oats Co. promoted r.
Douglas Stuart from president to
board vice chairman and Donald B.
Lourie from executive vice presi-
dent to president. H. Earle Muzzy
was named executive vice president.
Creole Petroleum Corp. elected M.
w. Hall to the board to succeed L.
F. McCollum, who resigned to be-
come president of Continental Oil.
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