Evening star., 1948-05-25
Business Briefs
and Industrial Failur,

Business and Industrial Failures
in the week ended May 20 declined
to 90 from 100 in the previous week
and 102 in the like 1947 week-Dun
g. Bradstreet.
New Machine Tool Orders in April
held steady at an index figure OF
1853, same as in March, and COM
pared with 698 in April last year
Machine Tool Builders Association
Structural Steel Bookings in April
we're estimated at l5l,139 tons VS.
2l3,123 in the previous month and
161.338 in the same 1947 month
American Institute of Steel Con-
struction. Orders in four months
ended April 10, totaled 655,ol5 tons
VS.. 541.826 year earlier.
Commonwealth Edison Co. plans
to sell mortgage bonds this year tc
finance construction, Chairman
Freeman told stockholders. AS much
as $l75,00000O will be needed tor
construction through 1852, he said.
Union Electric Co. of Missouri re-
ceived a high bid of l0O.2799 fol
S25,OOO. 900 of go debentures from
White, Weld & Co. Reoffering was
planned at 100s4 to yield 2.95@o.
PENNSYLVANIA Railroad asked ICC
permission to issue $11,055 900 OF
equipment trust certificates as the
first step in plan to purchase
nearly s40,0O0,0 900 of new equipment
including 233 new diesel locomo-
tives and 2.300 new freight cars.
Gamble Skogmo, Inc, offering OF
10000 shares of $50 par so cumu-
lative preferred stock was marketed
today at $50 a share.
International Paper Co. raised its
quarterly dividend rate on common
stock to ST share fom Is cents
previously paid and declared an
extra of 25 cents Both dividends
are payable June 30,
Colorado Fuel & Iron Corp. de-
clared an extra dividend of Is cents
and a regular quarterly of Is cents
both payable June 30. In June last
year the company paid Is cents plus
q special of 25 cents.
Todd Shipyards Corp. declared a
dividend of 50 a common share. pay
able June 8. Prior to payment OF
Sits for the March quarter, the
company paid s150 quarterly
Kroger Co. sales in four weeks
ended May Is totaled 65,007 ,467, g
gain of $50 from year earlier: ir
20 weeks ended the same date, S31l,.
S8O.956, an increase of 93oo.
United Air Lines reported ne
loss of $3550,534 for the Marcel
quarter VS.. deficit of S3,450,671 IL
the same 1947 period.
General Shoe Corp. earned ST.,
46l.4S7 or s1.O2 share in ST.
months ended April 80 VS.. 81, 1858 go
or 1922 a year earlier.
Chain Belt Co. net for six month
ended April 80 kas s1,l41 1887 or $2.3
VS.. s1,o25,334 or s2.1l in the sam
period year ago.
Philip Morris & Co. earned S.,
035.278 or $3.50 share in u month";
ended March 81 VS.. s4,958,150 O
$2O4 in the previous year.
Servel, Inc. net income for thre,
months ended April 80 was $l,026 Al.
or Sc cents VS.. s7o6,605 or 81 cent
in the same 1947 period.
Delaware, Lackawanna e. Westerl
Railroad earned $830,980 or 49 cent
In four months ended April 80 VS.
$758.6l5 or As cents year earlier.
Pan American Airways few 262,
s48, 900 passenger miles in the Marcl
quarter VS.. 227 ,3o9 900 in the sam
l947 period.
New York, New Haven & Hartfor
Railroad reported deficit of 1851 81
In four months ended April 80 VS..
loss of sl,772,575 in the same 1874
period.
Baltimore & Ohio handled 42.35
ears of freight in the week ende
May % VS.. 41.548 in the previou
week and 1886 in the like 194
week.
Association Of Stock Exchang
Firms appointed Robert M. Charter
secretary.