Evening star., 1948-05-23
Business Briefs
Automobile 4 Product

Automobile Production In the
United States and Canada totaled
1854 units in the last week VS..
83,275 in the previous week and
96,651 in the like 1947 week-Ward's
Automotive Reports.
Freight Car Builders had untitled
orders for 1876 units on May !,
a gain of nearly 10000 from
month earlier. In four months OF
1948, the railroads placed 81 ,704
new freight cars in service and re-
tired 21,036 old ones.
Lower Margin Rates on non-trade
accounts were adopted by the New
York Cotton Exchange, effective
tomorrow. The reduction applies to
transactions at prices above "a
cents a pound. The action marks
q return to rates in effect prior to
December /, 1947.
Pacific Western Oil Corp. regis
tered with the SEC 450,277 shares
of its capital stock to be offered
publicly by its president, j. Paul
Getty. The registration statement
said the stock cost Mr.. Getty an
average Of $4.06 a share. It recently
sold as high as $50 on the New
York Stock Exchange.
Niagara Hudson Power Corp filed
with the SEC plan to consolidate
subsidiaries and simplify its oper-
ating structure. Another plan will
be filed to eliminate Niagara Hud-
son as a holding company.
stanolind Oil & Gas Co. will
participate during 1948 in the
drilling of 94s wells, about 100 OF
them wildcats" or wells away from
proven production. Cost will be about
$50 900 900 or $4,000, 900 above drill
ing costs for 844 wells in 1947
Average per well will be about
$72 800 VS.. $4,000 in 1947.
Certain-teed Products Corp. sales
for the first 1948 half are expected
to reach SIS, ,O00, 900 VS.. $23, SOC, 900 in
the same 1947 period, but higher
costs will hold net income close to
the $1.78 a share earned in the first
half of 1947.
H. L. Green Co. earned $3.50, ,261
or 72 cents share in three months
ended April 80 VS.. $892,715 or rs
cents year earlier.
Yale & Towne Mfg. Co. net income
for the March quarter was $603, ,101
or 1924 VS.. $556,355 or $1.14 in the
same 1947 period.
Cherry Burrell Corp. earned
81, ,1O1 1886 or $2.15 in six months
ended April 80 VS.. $1,278,880 or $2.62
a year earlier.
Consolidated Vultee Aircraft Corp
reported a deficit Of $2.765,9l8 in the
March quarter VS.. loss of $344,904
in the same 1947 period.
Louisville Gas & Electric Corp
of Kentucky earned $1,137, 1868 in the
March quarter VS.. $1,059,5l4 a year
earlier.
Carpenter Steel Co. net income
for nine months ended March 81
was $1,022,115 or $2.84 VS.. $l,s87, ,497
or $5.52 year ago.
McGraw Electric Co. earned ST.
431, TOO or $5.14 in IL months ended
March 81 vs.. $2,677,724 or $3.50 in
the previous year.
F. L. Jacobs Co. net for nine
months ended April 80 was $827, TAG
or SLIP VS.. $11,526 a year earlier.
Hercules Motors Corp earned
$256,774 or 50 cents in the March
quarter VS.. $404,177 or $1.30.
Reliance Mfg. Co. net for the
March quarter was $178,063 or 81
cents VS.. $159,761 or ~ cents in the
same 1947 period. ....
Sweets Co. of America earned
$174,152 or 66 cents in the March
quarter VS.. 1891 400 or $1.25 a year
earlier.
American Colortype Co. profit for
four months ended April 80 was
$173,86 or SO cents VS.. $293 ,229 or
$1.16 in the same 1947 period.
United Light & Railway System
accepted the resignation of Frank
L. Conrad as president, effective
March 10. He said he resigned
because of differences with Chair
man William G. voolfolk.
st. Regis Paper Co. announced the
retirement of Edward Marshall as
general manager of the Deferiet
Mills. He has been with the COM
pany since 1917.