Evening star., 1948-02-29
Business Briefs


to grow and will probably affect the
general price structure in the not tc
distant future-National Association
of Purchasing Agents. With the
drift toward a buyers market, COM
petition is becoming sharper in
many fabricated products and
worker productivity is increasing
the association reported.
Automobile Factory Sales in Janu-
ary totaled 401, ,644 units, including
305, ,058 passenger cars. 95,231 trucks
and 1855 coaches - Automobile
Manufacturers Association. The
postwar record OF 469, ,957 units was
set in December.
Corporate Financing in 1947 in
cluded 5000 ,00o, 900 Of new stocks
and bonds, drop Of around 1919
from the preceding year-Securities
g. Exchange Commission. More than
half of the total was for new plants
and equipment.
Production Of Steel Rails fol
American railroads totaled 2,000.-
900 tons In 1947-Steelways, publi-
cation of the American Iron &
Steel Institute. The modern steel
rail has an average service life OF
Is years on main lines.
Radio Corp. Of America and Allis
Chalmers Mfg. Co. jointly announced
an agreement for marketing indus
trial electronic equipment.
Cities Service Co. will redeem $3,-
$40, 900 of SO debentures on April l
and 1921 and interest. Outstand-
ing debentures then will total $22,-
600, 900.
General Shoe Corp. has placed
notes for $7,500,00 through Smith,
Barney & Co. They will mature in
Is years and carry an interest rate
Of 3h%.
Goebel Brewing Co. took no ac-
tion on the common stock dividend
due at this time.
s. s. Kresge Co. earned $40, ,798,-
473 or $3.77 a share in 1947 VS.. $21,-
96l $40 or 1898 In the previous year.
Electric Auto Lite Co. net income
for 1947 was $10,714,986 or Silt vs..
$4,071 800 or $2.72 in 1916.
BarnsdalI Oil Co. earned $9,119,-
030 or $40 in 1947 VS.. $5,113,811 or
$3.50 in the previous year.
Glenmore DistilIeries Co. profit for
1947 was $6,758, tbs or $6.52 on COM
bined A and B shares VS.. $2,673, 3,180
or $3.50 in 1916.
Ohio Bell Telephone Co. earned
$11 ,978,872 or $50 a common share
in 1947 VS.. $13, ,533, 1897 or $762 in the
previous year.
New England Telephone & Tele-
graph Co. net for 1947 was $685.
1874 or $4.26 VS.. $9,174,924 or $3.50
in 1916.
Alexander Smith e. Sons Carpet
Co. earned St, ,561 1888 or $5.74 in 1947
VS.. $4,602, ,404 or $4.79 in the previ-
Gus year.
Allegheny Ludlum Steel Corp.
profit for 1947 was $6,002,657 or $4.66
VS.. $6,599, ,346 or $5.12 in 1916.
Robert Gair Co. and subsidiaries
earned $6,010,438 or $3.1S in 1b47 VS..
$2,644,364 or $1.32 in the previous
year.
Fairbanks, Morse & Co. net in
come for 1e47 was $4,224,7 TIT or $7.05
VS.. $3,079,135 or $5.14 in 1916.
Servel, Inc, earned $959, 9,036 or 81
cents in three months ended Janu-
ary 81 VS.. deficit Of $7s2,3l7 year
earlier.
Deep Rock Oil Corp. profit for
1947 was $2,574,875 or $6.45 VS.. ST.
879, ITO or $4.70 in 1916.
National Acme Co. earned $2,202,-
838 or $40 in 1947 VS.. $2,615,755 or
$5.23 in the previous year.
Bastian-Blessin Co. profit for IL
months ended November 30 was ST.
l42, 744~ or 81 :67 VS.. f,186, ,158 or $6.37
in the preceding fiscal period.
Fedders -Qhigan Corp. earned ST.
717,667 or $1.43 In 1917 VS.. $767, AL
or rs cents in the previous year.
Union Twist Drill Co. profit for
l947 was 81 l,566,052 or $8.17 VS.. ST.
562 ,342 or $815 in 1916.
Allied Laboratories, Inc, earned
s1,114,357or $4.26 In 1947 VS.. 1922, ,7e3
or $3.50 in the previous year.
Cream Of Wheat Corp. profit for
ls47 was $1,21S,731 or $2.03 VS.. ST.
484 528 or. $2.47 in 1916.