Evening star., 1948-06-20
THE SUNDAY STAR Washington, D. C.
SUNDAY, ls4e.
Business Briefs
Building Permits in ais lead

Building Permits in 215 leading
cities totaled $685., ,039 ,65S In May, q
new record for the month, and COM
pared with $2l5, 1885, ,472 in the same
1947 month-Dun & Bradstreet. The
latest total was below 1854. .428,3l1 Of
the preceding month, however.
Life Insurance Sales in the Unit
ed States totaled $l,196. .463, 900 In
May, a drop Of 80 from q year ear
lier. Sales In five months Of 1948
totaled 36.172,737, 600, about un-
changed from year earlier.
Aid for Foreign Nations will be
provided by the United States this
year to the tune Of about 81, SOC, ,000,-
900. compared with q postwar an
nusl average Of 5000 900 - Com
merce Department. More than 70Ts
Of this years aid viii be in the
form Of outright gifts. 1t was esti-
mated.
Short Interest In Listed Stocks on
the New York Stock Exchange de-
clined to LII ,33l shares on June
Is VS.. 1,325,570 shares . month ear
lier.
Memories Of Samuel insult: Fed
eral Court at Wilmington, Del, Or
dered holders Of securities In Mid
land United Co. and Midland Util-
tiles Co. to surrender their hold
ings by June 80. 1858. or lose them.
After n years Of reorganization. $2,-
100000 in cash and market value
securities will be distributed to
about 1000 persons.
Chicago Corp. declared q dividend
Of IS cents common share, payable
August !. Previous payments were
10 cents quarterly.
H. C. Bohack directors called q
special stockholders meeting July
2S to vote on a recapitalization plan
to clear all dividend arrearages on
preferred shares.
Transcontinental 4 Western Air,
Inc, proposed to Howard Hughes
that he immediately convert $10,-
1000 Of TWA notes he holds into
the company's common stock at SO
a share to clear the way for new
financing. Stockholders will vote on
the plan August 10.
Engineers Public Service Co. no
tined the SEC 1t intends to sell
enough common shares OF Virginia
Electric & Power Co. to pay OF a
$4,000 note held by the Irving
Trust Co. Sale Of more than 81 900
shares will be necessary, Engineers
estimated.
Northern States Power Co. Of
Eau Claire, Wis, asked SEC per-
mission to sell not more than 10000
of its common shares at 500 .
share to its parent. Northern States
Power Co. of Minnesota, to finance
construction.
Chesapeake i Ohio Railway
earned $9,181 1884 or $1.14 q share
in five months ended May 81 W.
SIC, 500 ,223 or $2.14 . year earlier.
Lakey Foundry 4 Machinery Co.
net income for six months ended
April 30 was $612,661 or $1.26 vs..
$548,537 or $1.12 in the same 1s47
period.
Reynolds Spring Co. earned
$267 ,6S6 or 90 cents in six months |
ended March 81, including 3l06 ATS
Of non-recurring profits, ". $2o0, ,521
or 68 cents q year earlier.
Bell Aircraft Corp. profit for three
ended March 81 was $142. TAI
or 50 cents, including $689,77 from
sale Of capital assets, vs.. $13l,A71
or 80 cents In the same 1947 period.
Crowley, Miner 4 Co. earned
$111,549 or "a cents In three month";
ended April 30 vs.. $S3, ,459 or Is cents
a year earlier. -
Northrop Aircrsft, Inc, reported .
profit of $304,05 or 68 cents for
nine months ended April 80, after
taxes. No comparisons for year
earlier were available
Hotels Statler Co. announced the
resignation Of Mrs. Ellsworth N.
Statler as honorary chairman Of
the board.
National Association Of Leather
Gloves Msnufacturers elected
Forrest p. Gates president 10 suc-
ceed Milton Gluckman.