Evening star., 1948-10-03
Business Briefs
Automobile Production

autOmODuc ItV0uCtlOA III CQl
United States and Canada roS'
sharply in the last week as Chrysle
and Packard resumed operations
Wards Automotive Reports. Out
put for the week was estimated a
120065 units VS.. 98,394 in the pre-
vious week and 86,330 in the lik,
l947 week.
Crude Oil Stocks on Septembel
Is totaled 26,072, 900 barrels, a gair
of 1865. 900 from a week earlier
Bureau of Mines. Domestic crud,
increased 4,033,000 barrels in tn,
week; foreign crude increased 532,
600.
Virginia Electric e. Power Co. of
fered subscription rights to a nev
share of common stock for each fou
now held as a second step in pro-
viding funds for expansion. Th'
company hopes to raise $ll,000. 900
FerrO Enamel Corp. announced
postponement of its proposed of.
fering of 79080 additional common
shares to present holders. because O.
unfavorable market conditions.
Waukesha Motor Co. will offel
100000 additional shares of capita
stock to present holders on the basis
of one share for each two shares
held. Profit for IL months endec
July 81 was $l.575,3l3 or $393 q
share VS.. sl,Sl7,794 or $4.54 in the
previous year
Kelsey-Hayes Wheel Co. will take
over the entire McKeesport pa
works of Jones g. Laughlin Stee
Corp. Immediately and will transfer
part of its operations from Detroit
to supply Eastern automotive as.
SeHbly plants from McKeesport.
International Shoe Co. has re-
ceived $1,OOO,OOO Government
order for 100000 pairs of Army
shoes. Production starting in Jan.
uary will be completed in June.
Climax Molybdenum Co. will in.
crease prices an average of 18%, ef-
fective January l. on molybdenum
products used chiefly as alloys in the
making of steel. 1t will be the first
price advance in the company's his.
tory.
Denver 4 Rio Grande Western
Railroad earned $4,443,237 in eigh1
months ended August 81 VS.. 1884,
$50 a year earlier.
st. Louis-San Francisco Railway
net income for eight months ended
August 81 was $4.2l9,125 or STA .
share VS.. s3,38941O or SLOT in the
same 1947 period.
Coty International Corp. earned
1868, ,959 or "a cents in six months
ended June 80 VS.. 1854 PAL or 2;
cents year earlier.
Vanadium Corp. profit for six
months ended June 30 was $734, los
or $181 VS.. a deficit of $13,935 in the
same 1947 period.
Cornell Dubilier Electric Corp
earned s386,943 or 81 cents in six
months ended March 81 VS.. $759, ,4ls
or s168 a year earlier.
Colorado Mill g. Elevator Co
profit for three months ended Au.
gust 81 was s302.173 VS.. $S69,950 In
the same 1947 period.
Rice-Stix Dry Goods Co. earned
s1,654.712 in nine months ended
August 81 VS.. $1,954,965 a year
earlier.
Wayne Pump Co. reported q def
icit of $l08,418 in nine months ended
August 81 VS.. profit of $1,355,784 OF
S4.6S in the same period a year ago.
Madison Square Garden Corp. had
a loss OF $75,686 in three months
ended August 81 vs.. a deficit OF
S63,829 in the same 1947 period.
Philco Corp. elected Leslie J.
Woods vice president in charge of
the industrial division.
Sinclair Refining Co. elected W.R.
Argyle vice president and q di-
rector.
Western Electric Co. elected Tim
othy E. Shea as president and a
director of Teletype Corp, q sub
sidiary.
REQ Motors, Inc, appointed R. D.
Hilty general sales manager.