Evening star., 1948-04-11
Business Briefs

Bad Debt Losses Of wholesalers
rose sharply In ls47. but remained
far below prewar levels-National
Association Of Credit Men. The
losses In dollars were 1876 above
1916, but averaged only 7 cents per
500 Of credit sales VS.. IS cents per
500 in 1887. Larger firms had the
lowest loss rate, cents per 500.
Competitive Bidding for stocks
has broken down and Is ineffective,
in the opinion Of George D. Woods.
executive of First Boston Corp, who
urged the SEC to review the EN-.
cheney of its competitive bidding
rule. Among alternative methods
of financing, Mr.. Woods mentioned
installment purchases OF stocks.
Flour Production at Buffalo
slumped sharply as demand contin-
ued slow as a result of high prices
and failure to secure export licenses.
General Mills plant was shut down
completely and were scheduled to
reopen this week at only sos Of
capacity. --.s
Automobile Production In the
United States and Canada totaled
l03.520 units in the last week vs.
1o5,132 In the previous week and
e7,893 in the like ls47 week-Ward's
Automotive Reports.
Listed Bond Values on the New
York Stock Exchange increased
from $99. "a per $100 on February
% to $99.97 on March 81. e
Humble Oil h Refining Co. stock.
holders will vote May 10 on q plan
to boost capital stock to s475.00
900 and to spend $4,000, 900 for
new facilities this year. Capital
stock now is $500 0,00o, 900.
Pure Oil Co. reserves have been
boosted sharply by discoveries In
Texas and wyoming. stockholders
were told by Rawleigh Warner,
chairman of the board.
American Gas d Electric Corp.
earned $19,688,141 or $423 a share
in IL months ended February 20 VS..
$17.783. .403 or $372 In the previous
year.
Bell Telephone Co. Of Pennsyl-
yania had net income Of $2,226, ,055
in two months Of l948 VS.. $2,37B, 1877
in the same 1947 period.
st. Regis Paper Co. earned 4,4s4,.
1913 or 80 cents In three months
ended March 81 VS.. $685. 1875 or
81 cents year earlier.
American Potash q Chemical
Corp. net for 1947 was $2,106,319 vs.
$1,514, 105 in 1916. s.. .,s
Lit Brothers earned 50 TAI or
$2,43 in 1947 VS.. $2.794, ,036 or s2.27
in the previous year. ..-...
Evans Products Co. net income for
1947 was 1892 1923 vs.. $803,707 in
l946.
Buffalo Bolt Co. earned 81 1856 $40
or $341 in l947 VS.. s603, 1872 or s1.51
in the previous year.
Sinclair Oil Corp. profit for l947
was $48 ,776, ,125 or $4.07 VS.. 1907
645 or $3.50 In 1916.
Soundview Pulp Co. earned ST.
513,148 or $1.55 in three months
ended March 81 VS.. $1,414,073 or
$l42 year earlier.
Franklin Stores Corp. profit for
nine months ended March 81 was
81 10000 or $l.55 VS.. $685., 900 or
$116 In the same period last year.
Plough. Inc, earned $4,000 or 21
cents In three months ended March
81 VS.. $4,000 or 20 cents a year
earlier.
Transue d williams Steel Forging
Corp. profit for three months ended
March 81 was s81 ,222 or go cents vs..
$75,670 or 56 cents In the same 1947
period.
Carriers q General Corp. net as
sets on March 81 totaled $7,640.954
or S10.28 a common share VS.. S1043
a share on December 81 and $1088
on March 81. 1947.
Melville Shoe Corp. sales In Ave
weeks ended April 3 amounted to
50 9,028,779 a drop Of liz from
year earlier; in the year to date,
sic, 6,279 ,248, an increase Of 80.
Lima Hamilton Corp. elected S. G.
Allen board chairman: G. A. Rent
schiller, chairman of the Executive
Committee, and j. z. Dixon, presi-
dent.
Wilson & Co. appointed Reynolds
Hughes vice president. He has been
manager of Frigorifice Wilson In
Brazil for 20 years.