Evening star., 1948-12-19
Business Briefs

Steel Shipments in the first nine
months of 1948 totaled 48, ,399 900
tons, gain of 40 from the same
1s47 period.-American Iron & Steel
Institute. Oil and gas companies
received the biggest increase in steel
shipments with a gain Of 38%o from
last year.
Automobile Production in the
United States and Canada may total
4,600,0 900 passenger cars in 1949,
which would be 1870 above the in
dicated 1948 total. - Wards Auto
motive Reports. Auto and truck
output In the two countries reached
a new postwar high of 125, ,452 units
this week VS.. 124,041 last week.
Short Interest in Listed Stocks on
the New York Stock Exchange in
creased to 1924 shares on De-
cember Is VS.. 932,403 a month
earlier, the exchange announced.
Largest increases were shown in
Farnsworth Radio. international
Paper and Radio Corp. Decreases
were recorded In American &
Foreign Power, Bethlehem Steel and
General Cable.
American Radiator g. Standard
Sanitary Corp. announced its return
to policy of quoting firm prices
for heating and plumbing equip
ment, instead of making them sub
ject to cost changes.
Phillips Jones Corp. cut whole
sale prices 1lqo on its Van Heusen
brand white shirts. Retail prices
will be cut from $3.50 to $295 on
January Is.
Southern Union Gas Co. regis
tered with the SEC 107 7,43O common
shares to be offered present holders
on the basis of l new share for each
10 held at price to be announced
later.
Lukens Steel Co. is considering
program for enlarging it's finishing
facilities to permit an increase of
around 1919 in capacity for convert
ing carbon and low alloy steel ingots
into plates. The cost is estimated at
100000.
Russeks Fifth Avenue, New York
Women'S wear store has leased
building In downtown Philadelphia
and will open a branch there next
August.
Elastic Stop Nut Corp. of America
declared dividend of Is cents
common share, payable February IS.
The company paid Is cents each in
December and September and Is
cents last February.
Hercules Cement Corp. declared a
quarterly dividend of so cents, pay
able January 8. Previous quarterly
payments were Is cents.
American Mfg. Co. declared
year-end dividend of so cents and a
regular quarterly of Is cents, both
payable December 81. A similar
year-end payment was made a year
ago.
Atlantic Coast Line net income
this year is estimated at slightly
more than SO a share and that of
Louisville e. Nashville Railroad.
which it controls. should be around
So a share, said Frederick B. Adams.
Executive Committee chairman of
both roads, in New York address.
The two roads earned 1928 a share
and s5.6S, respectively, last year.
Alabama Power Co. net income for
IL months ended November 80 was
s6,276,201 VS.. $6,618,879 In the pre-
ceding fiscal period
Ralston Purina Co. earned s4.-
696, ,430 or $40 a share in IL months
ended September 80 VS.. s702s,577
or 1888 a year earlier.
Carolina Power & Light Co, profit
for IL months ended November 30
was s4,029,580 or 1925 VS.. $685., ,0s8
or s2.sl in the preceding fiscal pc
riod.
National Industrial Conference
Board announced the election of DR.
Virgil Jordan to the new post of
chancellor. John S. Sinclair of New
York was elected to succeed him as
president.