Evening star., 1948-03-09
Business Briefs
Stock Exchange Membership *

Stock EXch1nge membership solo
for $4,000, a drop Of $1,000 from
the last previous transfer and the
lowest price since last June 6.
General Motors Corp. produced
337,414 cars and trucks in the first
two months of 194S VS.. 28l ,180 in the
like 1947 period and 48l ,661 in the
1941 period. The latest total in
cluded 100, ,30s cars and SO, 1873 trucks.
Central Pacific Railway offering
of S37,396, 900 of first mortgage
series B bonds, due 1868, received
a high bid of 90. 40 for a 35s % cou-
pom from Halsey, Stuart & Co.
Consolidated Natural Gas Co. no
tified the SEC it plans to sell $780,
10000 of bonds. due 1868, to help
finance It's $60,oo0,00o construction
program.
Virginia Electric & Power Co. in
vited bids by March Is on $40, ,000, 900
of first and refunding mortgage
bonds, series r.
Kennecott Copper Co. will con-
struct a Utah refinery with an ini-
tial capacity of $4,000 tons Of copper
a month. Most of the company's
output previously has been refined
by Atlantic seaboard refneries under
contract. Increased demand for re.
fined copper in the Midwest anc
higher freight rates were cited by
company officials
Island Greek Coal Co. declared q
dividend of 60 cents on new COM
mon stock, payable April l. Holder
received 81 plus an extra Of so cents
in December and September priol
to a 2-for-1 split.
Pond Creek Pocahontas Co. de.
clared a dividend of 81, payable
April l. Previous payments were II
cents In December and October plul
extras Of rs cents in July and 81
cents in April.
Walgreep Co. sales for February
amounted to $12,6e5, ,433, q gain o.
S.3eo from a year earlier; for tive
months. s25.33s,31o. an increase o.
1851.
Spiegel, Inc, sales in February to.
tailed $8,664,3 $50. a drop Of 40 from
year erlier; In two months, $14,.
994,0l6, a decline of 2.6T.
S. H. Kress & Co. sales for Febru.
ary totaled 1886 $50, a decline o.
6.6Te from a year earlier; for two
months, $19,983 ,342, q drop of 6.3T
Blair Holding Corp. has purchase
. substantial interest in j. D.
A. B. Spreckels Co., California sugs
company.
McClanahan Oil Co. has acquire
control of the Great Lakes Chemic,
Corp. of Filler City, Mich.
Westinghouse Electric Corp. back
log of untitled orders totaled $685.,
SAC, 1888 at the end of 1947. Net sale
for the year amounted to s7o3, ,l54,
334 VS.. 1901 ,691, ,7S8 in 1916.
st. Regis Paper Co. earned a rec
ord $14,631 SIS or $2.66 a share II
1947 VS.. $5,563, ,603 or 80 cents In tn
previous year.
Canadian Pacific Railway net IN
come for 1947 was $31 ,893942 o
$2.04 VS.. $25,134,731 or $l.53 in 1s4e
Price Brothers & Co., Ltd, earne
$6,1l8,896 or 5000 in 1887 VS.. "a,
BIC, 6,l84 or 1882 IN the previous veal
Chicago Pneumatic Tool Co. ne
for 1947 was $4,511,711 or $10.41 v.
$2,373, ,065 or s5.01 in l946.
Pittsburgh Steel Co. earned 81
o1S,607 or $500 in 1s47 vs.. $46,635 /
1916 when strikes cut earnins
sharply.
Pennick e. Ford, Ltd, profit fe
1s47 was $3,33s,035 or $452 VS.. 81
29s,915 or S3.11 in 1916.
Packard Motor Car Co. earne
$3,9l2.325 or 26 cents in 1947 v
$4,S35,513 or 80 cents in the previo,
year. Profit included q $4,000, OF
tax carryback credit and $2,811, 8;
reserve credit in 1947 VS.. $3.50, OF
and $4,000, 900 in 1916.
Falstaff Brewing Corp. profit f,
is4T was 81, 400 ss6 or $s.35 Va. $3.50
4o2 or S1.ss In 1916.