Evening star., 1947-12-09
Business Briefs
Business and Industrial Fai

Business and Industrial Failures
declined to so in the week ended De-
cember 4, lowest since September /,
and compared with 70 in the preced-
ing week and 81 in the like 1946
week-Dun g. Bradstreet.
Steel Industry Payrolls set a rec
ord of $1So, 100000 in October VS.. a
previous peak Of SITS, 5000 in May
and were almost triple the 1899
monthly average of s67,731 ,O00-
American Iron 81 Steel Institute.
Standard Gas & Electric Co. at
torneys were ordered by the SEC to
file briefs before December 16in the
company's management dispute. The
SEC refused to withdraw from the
dispute and said further postpone
ment of the company's annual meet
ing was inevitable.
Georgia Power Co. received high
bid of 100.69 for $4,000, 900 of 33a 2,
bonds from a group headed by Blytl
& Co. Reoffering was planned a
101.42 to yield 3.3qo.
Central Illinois Public Service Co
registered with the SEC $4,000 ,00(
of first mortgage bonds, series B, dus
1877, to finance new construction.
Tide Water Associated Oil Co
stockholders approved plan to pur.
chase and retire 1923, ,447 of its com.
mon shares involved in the projected
merger of Pacific Western Oil Corp
and Mission Corp. into Sunray Oil
Corp. at $25 share. Pacific West
ern and Mission own the shares.
Bulova Watch Co. declared an
extra dividend of so cents and in
creased its quarterly rate to rs cents
from so cents, both payable jan
uary 2.
Texas Gulf Producing Co. de-
clareds a special dividend of 20 cents,
payable December 20, lifting 1947
dividends to TO cents VS.. IS cents in
1916.
Curtiss- Wright Corp. ordered a
common dividend of rs cents, pay
able December 81, and a dividend Of
ST on 81 non-curAulative class A
stock, both payable December 80.
Ainsworth Mfg. Corp. declared a
yearend dividend of IS cents and a
regular quarterly of IS cents, both
payable December 20, raising 1947
dividends to $l.55 VS.. $110 in 1916
B. Kuppenheimer & Co. raised its
semiannual dividend to rs cents
from so cents, payable January 2.
Nash Kelvinator Corp. earned
$18,097 ,697 or SALT a share in Il
months ended September 80 VS.. ST.
582,274 or SO cents in the previous
year when s1,080,000 of income tax
credits were included.
Zenith Radio Corp. profit for six
months ended October 81 was ST.
LOTT or s2.48 VS.. a loss of s64e, ,64s
in the same 1916 period when an
income tax credit of $1.54S ,304 was
included.
Dresser Industries, Inc, earned
s4,400,000 or S3.8l a share in Il
months ended October 81 VS.. 81 ,037,
235 or "a cents in the previous year
Ell Pas0 Natural Gas Corp. profit
for IL months ended October 81 was
$3,712,415 or $4.81 VS.. $2,548,877 OF
$3.42 in the preceding fiscal period.
United Stockyards Corp. earned
$602, ,222 or $1.05 in IL months ended
October 81 VS.. $395,373 or Al cents
in the previous year.
Cessna Aircraft Co. net income fol
IL months ended September 80 was
$371 1865 or So cents VS.. $296, ,443 o.
AZ cents in the preceding fiscal pc.
riod.
Portsmouth Steel Corp. has pur-
chased a noncontinuous sheet mil
with an annual capacity Of 100000
tons to bolster It's critical supply OF
hot-rolied sheets. 1t was acquired
in Ontario for s275,o00 and will be
maHed to Portsmouth, Ohio.