Evening star. [volume] (Washington, D.C.) 1854-1972, 1948-12-28
Business Briefs
Steel Production this

Steel Production tnlS year WILL
approximate 88,50o,000 tons, new
peacetime high exceeded only in
the two war years of l943 and 1914.
American Iron g. Steel Institute.
Mills this week were scheduled TO
operate at s7.3% of capacity vs..
1857 last week, 100.leo month ago
and 96.4eo a year ago.
Bank Loans to business expanded
at q slower rate in October ana
November than Q year ago-Feoeral
Reserve Board. The smaller gains
were due In part to the fact that
business was able to finance larger
part of expansion programs from
profits, the board reported.
Business Failures in the week
ended December % rose to 116 VS..
es in the previous week and SO IN
the like l947 week.-Dun g. Brad
street.
Tide Water Associated Oil Co.
abandoned its plan to buy the Do
heny oil interests in California for
s43,000,O00 after failing four times
In nine days to get stockholders
vote on the proposal. The required
500 quorum was not present at
the meetings.
Chesapeake g. Ohio Railway asked
1CC permission to issue S7,OOO,OOO
of equipment trust certificates to
help finance purchase Of l,675 new
freight cars and eight diesel switch
ing locomotives.
Detroit Michigan Stove Co. de-
clared quarterly dividend OF Is
cents a common share, payable
January 20. In preceding quarters
the company paid 20 cents regular
plus an extra of 20 cents.
General Electric Co. boosted prices
So on motors of so horsepower or
more and raised prices l0go on tur-
bine generators of 10000 kilowatts
and higher.
Congoleum Marin, Inc, will raise
1949 prices of linoleum floor cover
ings about go. Prices will be I'M
changed on rugs, printed felt base
products and asphalt tile.
Chicago, Burlington & Quincy
Railroad earned SIG, 326.456 or s15.4l
a share in II months ended No
vember 80 VS. S25,043,098 or SASS
q year earlier.
Virginian Railway net income for
IL months ended November 80 was
ss,473454 or 1895 VS. s6,ao2 ,929 or
s4.21 in the same 1947 period.
Atlantic Coast Line Railroad
earned $6s12,o7l or 1888 in II
months ended November 80 VS.. s4,-
427,724 or s5.37 year earlier.
Marathon Corp. profit for II
months ended october 81 was So
5e3.238 or SAIL VS.. s4,654.457 or 1888
In the preceding fiscal period.
Texas Power g. Light Co. earned
s4.289, 12l in IL months ended No
yenber 30 VS.. $3655.638 in the pre-
vious year.
Cuban American Sugar Co. net
- months ended September 80 was
81 o98 sos or $427 VS.. $6,206, 103 o,
1913 In the preceding fiscal period
western Pacific Railroad earned
a. es42 pa in II months ended No
vember 80 VS.. s3,422,lF a veal
earlier.
General Realty q OtiIitice OorP
net for u months ended September
80 was s1,oe0,1o8 or II cents VS.
see4,756 or IS cents in the preceding
fiscal period.
FairchiId Engine e. Airplane Corp
operated at a profit in 1913 and ha!
s8o,o00,ooo of untitled orders OF
hand, said Chairman ]. Carlton
Ward. Profit after taxes cannot b.
determined until after year-ene
audit
Baltimore g. Ohio Railroad han
died 48,4e3 cars of freight in thu
week ended December Is vs.. 5S,50'
in the preceding full week and $500!
In the like l947 week.
General Electric Co. elected Clar
ence C. Walker a vice president.
Guardian Life Insurance Co. o
America appointed George T. Conk
LIN, jr, second vice president.