Evening star., 1948-09-26
Business Briefs

tinuing, according to a survey by
tha National Association of pr-
CHASING Agents. Efforts are being
made to reduce them to the lowest
possible amount necessary to main
tain production. Demand cannot
long continue to support the ex-
treme high of many prices, the as
sociation reported.
Automobile Production in the
United States and Canada last week
totaled 97,424 units VS.. 94,4l0 in the
previous week and 1O6,894 in the
like 1947 week-Ward's Automotive
Reports.
Newspaper Advertising Lineage in
50 cities during August was 1870
above the same 1947 month-Media
Records. Lineage for the year to
the end of August was 1929 above
a year earlier.
Peoples Gas Light & Coke Co. reg
istered with the SEC SIG, 100000 of
80 convertible debentures, due 1868,
to be offered at par to common
stockholders at the rate of 500 prin-
cipal amount for each four shares.
Keystone Steel e. Wire Co. stock
holders approved a 3-for-1 split in
capital stock and an increase in au-
thorized stock to 1,875,000 shares
from 625,000 New shares will be
issued october IS to holders of rec
ord October l..
Columbia Pictures Corp. took no
action on a common stock dividend
usually declared at this time. Last
payment was 2l2Go in common
stock on May IA.
Hayes Mfg. Co. declared a diVl-
dend of 30 cents a common share,
payable November l. Previous quar-
terly payments were Is cents.
Colonial Mills, Inc, declared an
extra dividend of 25 cents, a stock
dividend of Sc, and a regular
quarterly of 25 cents, all payable
October %. Profit for three months
ended August 81 was s2,229,573 or
1921 share VS.. s1,895, $3.50 or $2.38
in the same 1947 period.
Maine Public Service Co. direc-
tors voted TO take no action at this
time on declaration of a common
dividend normally payable October
l. Heavy construction costs were
cited as factor
Quaker Oats Co. earned $8,437,-
1873 or $10.52 a share in IL months
ended June 80 VS.. S7,958,588 or 1894
in the previous year
Timken-Detroit Axle Co. net in
come for II months ended June 30
was s7665,102 or 1888 VS.. S6,284, TIA
or s2.91 in the preceding fiscal
period.
Seaboard Air Line Railroad earned
S7,309.078 in eight months ended
August 81 VS.. s4,914,142. August net
was s774.649 VS.. $259,517 year
earlier.
Missouri Kansas Texas Lines net
income for eight months ended
August 81 was $3,731 900 VS.. $780,
331 in the same 1947 period.
Delaware. Lackawanna & Western
Railroad earned S3,441,817 or $204 in
eight months ended August 81 VS..
81 OIL ,071 or $119 year earlier.
Norfolk Southern Railway net for
eight months ended August 81 was
$473, ,491 VS.. s4O.4S4 in the same 1947
period. August net was $72,713 VS..
a deficit of SCI 1896 in August, 1947.
Braniff Airways earned $274, ,256 or
u cents in three months ended June
80 vs. a deficit of $164,047 a year
earlier.
Valspar Corp. profit for three
months ended August 81 was $185,-
29O or 30 cents VS.. $133, ,499 or 81
cents in the same 1947 period.
Hayes Industries, Inc, earned
$439, ,218 or $1.32 in II months ended
August 81 Us. deficit of $77.81a in
the previous year. ... ..
Continental-Un Industries,
Inc. net for two months ended Au-
gust 81 was $223, $50 VS.. S127,762 in
the same 1947 period.
La Plant Choate Mfg. Co. earned
$231,978 or 66 cents in IL months
ended June 80 VS.. $40l ,576 or s1.38
in the previous year.
Theodore Presser Co. elected James
w. hampton president and Wilbur
E. Roberts vice president and comp
troller.
Cluett. Peabody & Co. elected E. O.
Hand vice president in charge of
sales and a director.