Evening star., 1948-02-01
Business Briefs
Industrial Production BY n


January had recovered almost fully
to high levels of previous months
after a year-end sinking spell
National Association of Purchasing
Agents. High activity was reported
by 58qo of the agents covered in a
survey.
High Building Costs still worry
the construction industry, but as
yet they have had small effect on
volume-T. E. Applegate Of the As
sociated Press. With the exception
of lumber, little talk is heard of
any lessening of material prices.
Forecasters of drop in lumber
are wary of naming specific date.
Businessmen Will Spend $14,856,- :
0O0. 900 in 1948 for new equipment
and plant expansion, according to
Ia survey by McCraw-Hill Publish
ing Co. They expect postwar pro-
grams to boost production 50qo will
be 85%o completed by the end Of
l948.
Prices Received by Farmers ad-
vanced go to a new record be-
tween mid-December and mid-Jan-
uary, but price paid by farmers ad-
vanced 2.4%o, also to new record
Agriculture Department.
Loew's. Inc, stockholders were
told at their annual meeting that
film production costs will be cut
sharply in 1948 Improved earn
iflgs were forecast by executives.
Wisconsin River Power Co, Or
ganized recently to take over two
dam sites on the Wisconsin River,
received SEC permission to sell
$500, 900 of 27sqa first mortgage
bonds and $3,0O0,O00 of common
stock, the former to be bought by
Northwestern Mutual Life, and the
latter to be divided between Wis
consin Public Service and Wiscon-
sin Power.
Chesapeake Utilities Corp. asked
SEC permission to buy Citizens Gas
Co. of Maryland and Sussex Gas
Co. of Delaware.
Lionel Corp. declared an extra
dividend of 10 cents and a regular
quarterly of IS cents, both payable
February 2S, raising payments for
the year ended February % to 81
VS.. s1.7o in the previous year.
Standard Oil Co. of Ohio declared
a dividend of 37l2 cents a common
share, payable March Is, and the
usual dividend of 938. cents on Sc
ries A cumulative preferred shares
payable April Is.
Johns -ManyilIe Corp. earned So
486,633 or 1923 a share in l947 VS..
$5,836,613 or s2.0l in the previous
year.
Missouri Pacific Railroad net in
come for 1947 was S8.271.9 .925 VS..
Sc, ,30s,12 in 1916 and $7,327 ,9o9 In
1945.
Texas g. Pacific Railway earned
S. .46O,O ,O81 or $11.03 a share in l947
VS.. 5,435, ,l35 or $10.97 in the previ-
Gus year.
Lone Star Cement Corp. profit for
l947 was $6,329, TOO or $6,67 VS.. S.
293.2l4 or $3.50 in 1916.
Cook Paint e. Varnish Co. earned
s2857 SOL or 1928 in II months
ended November 80 VS.. 81 ,8OS, 100 or
81 SO in the previous year.
Sutherland Paper Co. net for l947
was s2,364,114 or $687 vs.. $l,610,636
or $468 in 1916.
A. M. Castle & Co. earned 81 ,459,-
701 or s608 in 1947 VS.. 81 ,552 ,29l or
S6.47 in the previous year.
Family Finance Corp. profit for
six months ended December 81 was
sS22. 1852 VS., s657 $50 year earlier.
Eversharp, Inc, reported a net loss
of $l90,509 for nine months, ended
November 30 VS.. a profit of s4,503.-
1852 or $3.50 a share in the same l94t
period
National Air Lines had a deficit
of 1865 ,302 for 1947 VS.. a profit o1
$3.50, ,730 or $1.0l share for 1916.
Sinclair Oil Corp. appointed Ralph
w. Garrett general counsel to sue
ceed Edward H. Chandler, who re-
signed.
E. i. dupont de NemOurs & Co
announced the retirement of Ernest
H. Hawkins as director of purchases
He will be succeeded by Thomas W.
Harris, jr., purchasing agent.
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