Evening star., 1947-04-30
Business Briefs
Steel Production from Janual

Steel Production from January
to the middle of this week was
better than 100000 tons, Iron
Age reported. This rate, if sustained
for a year, would result in about
300 more steel than in 1889, OF
only 90 less than the 1914 record
of 89,600,O00 tons. There was moth
ing to indicate a cut in steel prices
the publication said.
Electric Power Output in the week
ended April 26 increased to 4,667,
$4,000 kilowatt hours from 4,660,-
100000 in the preceding week, the
Edison Electric Institute reported
This represented gain of ia per
cent over 3,976,750,000 in the CON-
parable 1916 week.
Factory Sales of new passenger
automobiles and trucks for the first
quarter of 1ga7 totaled 1,l44,52e
compared with 1,138,602 in the last
three months of 1916, the Automo-
bile Manufacturers Association re-
ported.
Civilian Production Administra-
tion announced it soon will allow use
of greater percentage of natural rub
Der in products other than tires
The order probably will allow pro-
ducers to increase the inventories
of natural rubber.
Union Pacific Railroad Co. dis
closed reduction of $2,35l,7 ,728 to
$12,320,l39 in fixed and other
charges Total net income amount
ed to $50 431 SOB, a cut of S2,599,-
GIT from preceding year.
Southern Natural Gas Co. asked
SEC authority to deliver to its
parent, Federal Water g. Gas Corp
745.022 shares of 81 per capital stock
Of Southern Production Co., Inc.
Henry Neubert, vice president OF
the textile concern of Deering Milli-
Ken & Co, was elected president OF
the National Federation of Textiles
Inc. at the 74th annual meeting in
New York
SEC Approved application from
Southern California Water Co. to
issue and sell through competitive
bidding S5,100.000 principal amount
of first mortgage bonds, due May /
1877.
Jones & Laughlin Steel Corp. ir
It's first quarter earned S6337 ,132 o,
S24l a common share, compared
with S8l3246 or 13 cents share ir
same period last year. Earnings
cover corporation subsidiaries.
Kaiser-Frazer Corp. reported ne;
loss Of s19 .284, $50 for 1916 Company
operated only a, few months in l945
preventing comparative figures. Vice
President Edgar F. Kaiser disclosed
a production upturn for April, which
he said would put the auto firm or
a profitable operating basis
Skelly Oil Co. in first quarter
earned $2,923, ,654, or S2.97 a common
share, compared with S1,628, ,302 OF
Sl65 for same period of 1916.
Eastman Kodak for first quarter
reported sales of s7l,500,o 900, an in
crease Of $50 over the same period
in 1916. Prices were listed as only
15f6 above 1910, though raw mate
rials were up 500 and labor 75Go,
Canadian National Railways or
0ered S,iO0 box cars Tor Its Canadlan
service and 500 for its three United
States subsidiaries.
Rock Island Lines reported total
operating revenue of $41 ,656.545 for
first quarter, compared with S40,-
1So,339 in same period Of 1946 Net
income was S5.l88.379 against
1856.
United States Lines for 1916 re-
ported earnings of S6,639, ,684 or 81 81
compared with S2,079,377 or S1.5l
in 1945. The company estimated q
flrst-quarter profit for 1s47 of ST.
100000, equal to s1.37 share.
Studebaker Corp. in first quartz,
early s1,655, ,760 or 10 cents share
compared with a loss in same
period in 1916.