Evening star., 1948-04-14
Business Briefs
Electric Power Consumption

Electric Power Consumption de-
clined for the fifth successive week
to 5,o32, ,879, 900 kilowatt hours in the
week ended April 10 VS.. 5,036, 788 900
in the preceding week, but remained
s.9To above the like 1947 week.
Edison Electric Institute.
Iron Ore Shipments from upper
lakes ports totaled 1,29S,629 gross
tons in the week ended April IL
VS.. only 125, 5,626 in the week ended
April 10, 1947.-Lake Superior Iron
Ore Association. The shipping sea-
son started q week early this sea-
son.
Refined Copper Shipments to
United States consumers totaled
122,988 tons in March, largest for
any month since March, 1947, when
1873 1882 tons were delivered.-Copper
Institute. The preceding month S
total was i06,S23 tons.
National Advertising Expenditures
In newspapers during February
were 1870 above the same 1947
month.-Printers Ink. Expenditures
for radio advertising we're 80 above
the preceding month and liz above
. year earlier.
Gulf Oil Corp. is negotiating for
o long term loan of $85 ,000,0 600 from
Metropolitan Life Insurance Co. to
retire bank loans of about the same
amount. The company handled the
largest volume in its history in l947'
American Light & Traction Co.
received SEC permission to sell
100000 common shares of Detroit
Edison Co. at competitive bidding
Northern Pacific Railway has
spent s129,63 ,286 for improvements
and new equipment since 1910 and
reduced its long-term debt $48,027,- =
676 In the same period, President
Denney told stockholders.
Cerro de Pasco Copper Co. de-
clared a dividend of 3713 cents a
share, payable May /. Previous
payments were SO cents quarterly
Net income for 1947 was $1.33 a
share VS.. $1.48 in 1916.
United Air Lines, Inc, stockhold-
ers approved an increase in author
ized stock and a reduction IN total
capitalization. Preferred stock will
be increased to 100000 shares from
e4,968 and common to. 5000, ,00C
shares from 2,500,000, while capital
will be cut by transfer to surplus
Of $e,855, 5,583.
Bendix Home Appliances, Inc.
stockholders approved purchase OF
the H. ]. Rand Washing Machine
Corp. of Cleveland, including patent
application covering the Rand type
of washing machine. Profit in the
first l948 quarter was $1,658,75l OF
sl.57 a share VS.. $2,446.746 or s2.34
q year earlier.
Lehigh Valley Railroad has ar.
ranged to- purchase its first mort
gage bonds maturing June al
face value on and after April Il
through a subsidiary, Consolidated
Real Estate.
Pittsburgh Steel Co. reported first
quarter sales of $22 zoo, 900 VS.. $18,.
5000 in the same 1947 period. A
new blast furnace purchased from
the Government is expected to bt
In operation in May.
Decca Records, Inc, sales in tn,
Arst quarter totaled $7,923, ,734 VS.. {
record Of $10,22o,780 a year earliel
when m unusual number of hi
tunes we're current.
Sunray Oil Corp. net income fo
three months ended March 81 wa
44,126, ,025 or 78 cents VS.. 50, 2,066, ,464 O
g cents in the same 1S47 period.
Ford Motor Co. of Canada, Ltd
earned 1896 ,0o3 or 1851 in 1914
vs.. deficit of $239, ,44s in the previ
Gus year. ....
British American Oil Co.. Ltd
net for l947 was $4,ll1.479 or $l.4
". $3,3ie,572 or $l.2o In 1916.