Evening star. [volume] (Washington, D.C.) 1854-1972, 1948-05-11
Business Briefs
Commercial and industrial Fail

Commercial and Industrial FAIL
ures in the week ended May 6 to-
tailed 1903, highest mark since the
first week in March, and compared
with LOG in the preceding week and
SO in the like l947 week-Dun &
Bradstreet.
Narragansett Electric Co. asked
SEC permission to issue and sell
$l0,OO0,000 Of first mortgage bonds,
due 1878, at competitive bidding.
General Motors Corp. reported its
United States and Canadian facto-
ries produced 19O,2l1 cars and trucks
in April VS.. 2o9 ,597 in March, raising
the total for four 1948 months to
737,2 VS.. 631,044 a year earlier.
r. II. Macy e. Co. has arranged
to sell its Jamaica Iong Island)
store to New York Life Insurance
Co. for more than s4000000 and
lease the property back for long
term.
Chicago, Rock Island & Pacific
Railroad declared an initial quar-
terly dividend Of $3.50 share on
preferred stock, payable June 80
J. c. Penney Co. sales in April
totaled S62,343,964, gain of 500
from a year earlier; in four months
1921 ,026,O90, an income of $50.
Grand Union Co. sales for four
weeks ended May /, amounted to
S8,113,5O4, a rise of 1897 from a
wear earlier; for nine weeks ended
the same date, $18,041,455. a gain
of 1897.
Standard Oil Co. tOhio) earned
S6,052,604 or S1.66 share in the
March quarter VS.. s2,443,7S3 or 81
cents a year earlier.
Briggs Mfg. Co. net income for the
March quarter was $2,044.9 1886 or
s1.05 VS.. S1,408,580 or 70 cents in the
same l947 period.
Soundview Pulp Co. earned ST.
e2l $50 or s197 in four months
ended April 80 VS.. 81 ,086 or 81 SO
a year earlier.
Western Union Telegraph Co. re-
ported a loss of S163,268 for the
March quarter VS.. profit OF $l,236,-
342 in the same 1947 period.
Bower Roller Bearing Co. earned
s657, 45e or S146 in the March quar-
ter VS.. S677,804 or Sl.5l a year
earlier.
Capitol Records. Inc. net for the
March quarter was S588,588 or 81. 80
VS.. S2O7, LOG or A cents in the same
l947 period.
Easy Washing Machine Corp.
earned S799.214 or s160 in the
March quarter VS.. s484,484 or 81
cents year earlier.
Canada Dry Ginger Ale. Inc, net
for six months ended March 81 was
S923,7l9 or 43 cents VS.. $795 .209 or
So cents in the same 1947 period.
Emerson Electric Mfg. Co. earned
$685. O4 or s190 in six months ended
March 81 VS.. s59l,778 or s121 a year
earlier.
Beatrice Foods Co. net for Il
months ended February 20 was So
471,956 or $3.50 VS.. $5,364,665 OF
sl003 in the preceding fiscal period
Bloomingdale Bros. Inc. earned
$1,772,914 or $549 in So weeks ended
January 81 VS.. S200l $50 or $6.l6 In
the previous year.
Eversharp, Inc, reported a loss Of
$3416,985 for the year ended Febru-
AIRY 20 VS.. profit of $4,213,90 or $4.5l
in the previous fiscal period.
Federal Mining g. Smelling Co
net for the March quarter was s4oS,.
470 or $l66 VS.. $502,574 or S204.
Moore Handley Hardware Co
earned s324,026 or 81 cents in the
March quarter VS., s3ll,326 or 81
cents year earlier.
Pennsylvania Glass Sand Corp. ne
for the March quarter was 1854 .58i
or 81 cents VS.. 1924 TAO or SO cent?
In the same 1947 period.
United Fruit Co. elected Thoma
D. Cabot president to succeed Sam
uel zemurray, who resigned.
Humble Oil & Refining Co. elected
Harry c. Weiss board chairman ant
Hines H. Baker to succeed him a
president.