Evening star. [volume] (Washington, D.C.) 1854-1972, 1948-01-23
Business Briefs

Money in Circulation declined to
$28,211 900, 900 on January 81, drop
of s163, 100000 from a week earlier
and s158 100000 below a year earlier.
Federal Reserve Board.
Automobile Production in the
United States this week will total
106,636 cars and trucks VS.. los, 1859
last week-Automotive News. In
cluded were 80,574 cars and 26,062
trucks VS.. S0,772 and 24,697.
PENNSYLVANIA Railroad asked ICC
permission to issue $10,890.000 Of
new equipment trust certificates as
second installment on proposed
total of S32,910,000 to help finance
purchase of Ill new diesel-electric
locomotives, 1000 new freight cars
and other rolling stock.
st. Louis-San Francisco Railroad
awarded S8,260,000 of equipment
trust certificates to Halsey, Stuart
& Co. and associates on a bid OF
1886.
Pacific Gas & Electric Co. asked
Federal Power Commission author
ity to build three new hydroelectric
plants at a cost of S60,310,000.
Armstrong Cork Co. offering OF
$4,000 shares of 81 cumulative pre-
ferred stock was marketed today by
Smith, Barney &, Co. and associates
at S10250 share. They repre-
sented the unsubscribed portion of
88,179 shares recently offered to
common holders.
Devoe G. Reynolds Co. declared
extra dividends of 80 cents on class
A and IS cents on class B common
stocks, payable February 6.
Diamond Match Co. declared an
extra dividend of so cents and a
regular quarterly of 37lz cents, both
payable March /.
Liggett g. Myers Tobacco Co.
earned 500, 90O,691 or 1888 share in
1947 VS.. s18,36S927 or $3.50 in the
previous year.
Best Foods, Inc, net income for
six months ended December 81 was
s4,469, 1876 or $298 VS.. $2,137 ,240 or
SLAB in the same 1916 period.
New England Telephone & Tele-
graph Co. earned $685., 1874 or $4.26
in 1947 VS.. $9,174,924 or $500 in the
previous year.
Julius Kayser g. Co. profit for six
months ended December 81, was
$1,039, 789 or $1.40 VS.. $1,118,689 or
s1.51 in the same 1916 period.
Pond Greek Pocahontas Co. earned
s2.0eO,0O0 or s615 in 1947 VS.. 1918 ,2S6
or $3.50 in the previous year.
Ward Baking Co. net income for
81 weeks ended December q was
$2,53l,425 or $3.50 vs. $3,642, 1888 or
s4.58 in the preceding fiscal period.
United States Pipe & Foundry
Co. earned s4.186948 or $6.0l in
ls47 VS.. $846,635 or s1.2o in the
previous year.
Paraffine Companies, Inc, profit
for six months ended December 81
was s1,s83,033 or 1914 VS.. $3.50 ,625
or 1902 in the same 1916 period.
Lehigh Coal & Navigation Co.
earned s2,65o,000 or $1.37 in 1947
VS.. $2,701 ,535 or s1.40 in the previous
year.
Mutual Life Insurance Co. re-
ported insurance paid for in 1s47
totaled s324,172.41s, a gain of 1919
from the, previous year, and the
largest for any year since 1881
Benefit payments in 1s47 totaled
$1l1,516,908, largest since 1912.
Collins g. Altman Corp. net in
come for nine months ended No.
vember 20 was S174,616 or 81 cents
VS.. s3,330,294 or $5.82 in the same
1916 period.
National Shirt Shops of Delaware
reported profit of S1,170y983 or $3.50
in IL months ended September sc
VS.. 1927 or $2.3s in the pre-
ceding fiscal year.
Adams Express Co. net assets al
the end of 1947 totaled SAL ,097 ,03e
or S27,82 a common share VS.. $40
As. 9s6 or $27.38 year earlier.