Evening star., 1948-09-28
Business Briefs

Business Failures in the week
ended September % rose to 10l VS..
81 in the preceding week and II in
the like 1947 week.-Dun g. Brad
street.
Cotton Carry-Over from previous
years crops totaled 3,081 $40 bales
on August l VS.. 253O,122 on the
same 1947 date-Agriculture De-
partment. A carry-over of a little
more than 100000 bales is not eX-
ceSsive, the department commented
Used Car Markets face no sharp
break, but are undergoing the usual
seasonal sales decline of about 3oc
the National Used-C Dealers AS
Sociation was told by its former
president, Charles Millard. at the
annual convention. Nh Millard de-
MED rumorS of stocking
Pennsylvania Turnpike Commits
sion awarded a contract for the first
leg of the toll roads eastern extern
sion to Central Pennsylvania Quarry
Stripping & Construction Co. for
81 f79779
Nash elyinator Corp. announced
that production of the 1949 Nash
automobile has reached $50 units
daily and should be double that
figure by late october.
Wright Aeronautical Corp. an
nounced receipts of a S32 000, 900 or
der from the Navy.
Armour e. Co is reported nego-
tiating with the investment bank
ing firm of Kuhn. Loeb & Co. re-
garding the sale Of S50,000000 of
debentureS to retire bank loans and
increase working capital
Iowa Public Service Co. registered
with the SEC 100000 of first
mortgage bonds and 1898 shares
of SIS par common stock, the for
mer to be offered at competitive
bidding and the latter to be offered
present holders at the rate of one
new share for each six held.
Public Service Co. of Indiana
asked SEC permission to redeem
S2,0p0. 900 of convertible debentureS,
dua 1862, Of which $899l 400 are
outstanding
National Paper & Type Co. direc-
tors proposed a 1907 common stock
dividend, contingent on stockholders
approval of an increase in authorized
common to 100000 shares from $4,000
at B meeting November II.
Esquire, Inc, directors took no ac-
ton on payment Of a semiannual
dividend now due, President Alfred
Smart announced.
Niagara Hudson Power Corp. has
cutapower sales to large industrial
users throughout New York State by
15c5 because drought conditions
have curtailed production.
Norfolk & Western Railway earn
ed S23144.e47 or s401 a share il
eight months ended August 81 VS.
s20S7o,1S9 or $3.50 year earlier.
Wyandotte Worsted Co. profit fol
nine months ended August 81 wa!
s1.360,070 or S227 VS. $490ll7 or 8:
cents in the same 1947 period.
Permanente Metals Corp. earned
SO 244 ,338 or So. SIS in II months endet
Maj 81 VS.. s5.330,ooo or s205 in tn
previous year.
Diana Stores Corp. profit for
months ended July 81 was slO3o,
s2s sor s1.2O VS.. $s16,o62 or Sl.06 il
the preceding fiscal period.
Monroe Auto Equipment Ct
earned s53e,Se1 or sl.lS in l
months ended June 80 VS.. s62l Sc
or $1.37 in the previous wear.
Club Aluminium Products q
profit for II months ended June 3
was s534,143 or sl65 vs.. S422,76 o
$50 in the preceding fiscal period.
National Bellas Hess earned s27'
s31 In August VS. s2o,734 in the sam
l94f month.
baltimore e. Ohio Railroad han
died 67,757 cars of freight in tn
week ended September Is VS.. 66,62
in ue previous week and 6s,443
the Alike l947 week.
Railway Express Agency electe
Alfred L. Hamel executive vic
president.