Evening star., 1948-06-01
Business Briefs
SteeI Min Operations for

Steel Mill Operations for the cur
rent week were scheduled at 96ec
of capacity. indicating production of
l.730,40 tons-American Iron &
Steel Institute. Figures last week
were $685. and l,744.800 tons; a
month ago. 91es and 1,640,300 tons;
q year ago, 97eo and 1857, 400.
Expansion of Airplane Production
10 levels required by the 70-groul
air force program will take from IL
months to two years, predicted
Harvey Showers, assistant to the
president of the Aircraft Industries
Association.
Celeanese Corp. Of America de-
clared a quarterly dividend of go
cents a share, payable June 80
Previous payments were 40 cents.
Decca Records, Inc, declared a
quarterly dividend of 1871 cents
payable June 30. Previous payments
were Is cents
Aireon Mfg. Corp. trustee. Harry
Miller. jr. submitted to the courts
a reorganization plan calling for a
drastic scale-down in debt, with no
provision for present common and
preferred stocks.
Narragansett Electric Co. received
. high bid of 10185 for $10,000.000
of 80 bonds from Halsey. Stuart &
Co. Reoffering was planedd at
1929
New York State Electric & Gas
Corp. received a high bid of 100 5399
for $4,000 shares of $3.50 preferred
stock from w. G. Langley & Co.
and associates.
Standard Oil Co. New Jersey
profits in the first half of 1948 will
approximate s210,oOO.0O0 or a little
more than $3.50 a share VS.. $140.-
100000 or S512 in the same 1947
period. Chairman F. w. Abrams
estimated
Curtiss-Wright Corp. net income
for the March quarter was 81 1,340 ,Oe8
or u cents. No comparisons with
a year earlier were available.
Westinghouse Electric Corp. earned
S50.6820l3 or s374 a share in II
months ended March 81. after an
inventory reserve of $9.351 900, VS..
s22,034,642 or sl.52 in the previous
year when a carry-back tax credit
OF s46,755,047 was included.
Montana Power Co. net income
for - months ended April 80 was
S6,98l .931 vs. S5954,492 in the pre-
ceding fiscal period.
City Stores Co. earned sl.l06 623
or Sc cents in three months ended
April 80 VS., sl,272,ls4 or rs cents a
year earlier.
Chicago Pneumatic Tool Co. profit
for the March quarter was 81 .O09. 800
or s2.36 VS.. S943.492 or 1929 in the
same 1947 period.
Brown Shoe Co. earned S1.335 ,208
or s2.56 in six months ended April
80 vs.. $l,743,35l or 1888 a year
earlier
Waukesha Motor Co. net for nine
months ended April 80 was $685. ,OlO
or s2.48 VS.. 1885, ,176 or 1921.
Thermoid Co. earned $284,974 or
IS cents in the March quarter VS..
S26l .464 or So cents year earlier.
Mid Continent Airlines, Inc. profit
for April was s3,o21 VS. a deficit OF
$685. in the same 1947 month.
Phillips Packing Co. reported g
loss Of S173,656 for the year ended
March 81 VS.. profit Of s1,72S.674
or 1884 in the preceding fiscal
period.
Esquire, Inc. earned s342, ,389 OF
76 cents in II months ended March
81 VS.. ss7O,764 or $2.l5 in the pre-.
vious year.
Reed Roller Thread Die Co. o.
Worcester. Mass. has purchased tn,
Cleveland Die & Mfg Co. and vii
move It's equipment to Worcester.
Continental Oil Co. elected r. C
Brown a vice president. director
and manager OF Hudson Bay Oil &
Gas Co.. Ltd, subsidiary.
Fairchild Engine& Airplane Corp
elected George F. Chapline ant
Turner A. Sims vice presidents.