Evening star., 1948-07-11
Business Briefs
AutomobiIe Production in

United states ana CanaQa laSt
week totaled 9a362 units vs.. 112,307
in the previous week and SCOTS In
the like 1947 week-Ward's Automo-
tive Reports. The holiday last Mon
day cut the weeks total.
Crude Petroleum Stocks totaled
223, ,708, 900 barrels on July 8, a net
increase of 1927 900 barrels from a
week earlier-Bureau of Mines.
Domestic crude increased 100000
barrels. Foreign crude decreased
$4,000.
Civilian Employment expanded to
a new high of 81 .296, 900 in June
Census Bureau. The previous peak
was 60055, 100 in June. 1947. Entry
of students into the labor force was
a major factor.
World Rubber Supplies will amount
to about 2,000, 900 tons this year. in
cluding both natural and synthetic
supplies - Commerce Department.
Natural rubber output will total
about 100000 tons.
Listed Stock Values on the New
York Stock Exchange stood at STA
SOC ,911 ,955 on June 80. a drop from
$74, ,703, ,907, ,264 on May 81. The
total averaged $3768 share VS..
$3808 a month earlier and 1858 a
year earlier.
General Electric International
Co. announced the economic cli-
mate" in Japan is not yet ripe for
the company to resume its prewar
associations with japanese interests.
Among uncertainties listed were in
fiation, reparations, decentraliza-
ton plans for industry and the lack
Of peace treaty.
Baltimore & Ohio Railroad preSi-
dent, Roy B. White, declared there
is no basis for talk of a forth
coming merger of the B. & O.,
Western Maryland, the Reading and
Central Railroad of New Jersey. He
is chairman of the board OF both
the Reading and Central.
Hammermill Paper Co. directors
have recommended 2-for-l split
in common stock and an increase IN
authorized common to 600 900 shares
from 100000. Stockholders will
, vote at a special meeting.
Reece Corp. and' international
Button Hole Sewing Co. have called
special stockholders meetings for
July % to approve a proposed re-
organization of both firms into a
new company.
Barium. Steel Corp. stockholders
will vote July % on plan to reduce
authorized capital stock to l250, ,00O
shares from 2,500,000 and change
the par value from the present 81 to
50 a share. Barium plans to offer
additional 81 par shares to present
holders.
]. C. Penney Co. sales for June
totaled ST., 1868 ,563, a jump of 22.4@o
from a year earlier; for six months,
1862, ,763, ,794, an increase of 1857.
Gamble -Skogmo, Inc. sales IN
June amounted to $l3,725,O58, a
gain of $50 from year earlier; in
six months, $7l,263,60l, a rise of
6.19o.
Walgreen Co. sales for June
totaled $13,20l ,259. a rise OF 1871
from year earlier; for six months,
ST, ,7o2 800, a gain of $50.
Bond Stores, Inc, sales in June
amounted to $685., 5,331, an increase
of 2.89o from year earlier; In six
months, $38 8,416,641, a gain OF l.4%
/ Western Union Telegraph Co. re-
ported a deficit of 1921 ,839 for May
Us. net income of ST 1,373 $40 in May
i947. A. loss of $909,623 for five
hcdf,1s If s5,2H,z7s a year earifef'
Finance Co. of America (Balti-
more) earned $104, ,206 in six months
ended June 80 VS.. $347,l3l in the
same 1947 period.
Hudson g. Manhattan Railroad
reported loss of $500,034 for five
months ended May 81 VS.. net in
come of s434.98 year earlier.
Tennessee Gas Transmission Corp.
awarded contracts for construction
of a 2lO-mile natural gas pipeline
between Ell Campo, Tex. and Nachi-
toches. La, starting August l.
Delaware, Lackawanna g. Western
Railroad placed orders for 800
freight cars and 20 passenger
coaches.
New York Central Railroad has
received the first new sleeping car
to be built for the road since the
war. The 22-roomette type is the
first of 23O on order. From Pullman
Standard Car Mfg. Co.
Ford Motor Co. announced that
D. S. Harder, vice president and
director Of manufacturing, also will
supervise purchasing operations.
New York Stock Exchange an
nounced the resignation of Donald
D. Hogate as director of public re-
lations. He will re-enter public
relations work in Washington.