Evening star., 1948-06-13
Business Briefs
En9ineerinr Construction an

OUNTICSS Dt1SIS
Engineering Construction awards
rose to $174,146,0 900 in the week
ended June 10, a gain Of 29ee from
the previous week and l0% above
the like 1947 week Engineering
ws-Record. Public construction
of SOC, 600 was 1857 above the
previous week and 49ss above = year
ago. but private construction Of 37S,-
32S. 900 was 17ee below the previous
week and 10eo below . year earlier.
Automobile Production in / the
United States and Canada for the
last week was estimated by Wards
Reports at 1l0,688 units vs.. 75,607
in the previous week. Included were
1883 cars and 1856 trucks made
In the United States and $3.50 cars
and 2,2l0 trucks in Canada.
Steel Ingot Output In May set
new peacetime record for that month
Of 1864. .626 net tons VS.. 6.2ls,l57 in
April and 7,339,014 q year earlier
American Iron & Steel Institute.
Zenith Radie. Corp. announced It
had obtained paid-up rights to build
home television receivers under all
Of the patents and pending appli-
cations Of Farnsworth Television &
Radio Corp. The price was not
announced. j,
Niagara Hudson Power Corp. will
construct an additional SO, ZOO, 900
unit at its Oswego, N. Y, steam
electric generating station.
International Paper Co. will spend
s., ,000, 900 for new equipment and
other expansion purposes in 1o4S-4s
it was announced in connection with
the company's 5oth anniversary.
Commonwealth & Southern Corp.
reorganization plan Is unfair" to
preferred stockholders. reported the
utilities division Of the SEC. How
ever. the division recommended ap-
proval provided certain amend
ments are made.
New Jersey Bell Telephone Co.
registered with the SEC $55,000, 900
of 40-year debentures to be sold at
competitive bidding to repay loans
from A. T. 6 T. and finance con-
struction.
Public Service Electric & Gas Co.
of Newark registered with the SEC
100000 Of cumulative preferred
stock to finance property additions
and improvements.
Permanente Metals Corp. regis
tered with the SEC 100000 capital
shares to be offered publicly.
Southern Natural Gas Co. was au-
thorized by the SEC to sell S28.000,-
900 of first mortgage bonds and
$11 ,550O00 of serial notes at COM
petitive bidding to pay OF debts
and finance construction.
Cincinnati Gas & Electric Co. re-
ceived SEC permission to sell $l5,-
100000 Of 30-year first mortgage
bonds at competitive bidding to
finance construction.
Middle West Corp. requested SEC
PEI mission to sell its common stock
holdings in United Public Service
Corp. to Doyle, O'Connor g. Co.,
Chicago Investment bankers, for
sso5 062.
Appalachian Electric Power Co.
asked SEC permission to form and
acquire stock Of a new company,
Appalachian Coal Co., to develop
and operate coal mine.
Mission Corp. declared q dividend
OF 81 a common share, payable July
10. The corporation paid IS cents
each In June and December last
year. - 549 9e 49,.
Roses 5-10-25s Cent Stdres.s Ir,e.,
sales for May amounted to 81 ,2s3,-
981. gain of 461o from a year
earlier: for f1ve months, $5,396, ,96l,
a rise Of 2.6es.
Florsheiu Shoe SCo. earned $780,
255 in six months ended April 80
vs.. STAG 1000 A year earlier.
Kaynee ca net profits for II,
months ended April 30 was S4S3, $40
or $3.50 a share vs.. $456,27l or $4.lS
in the preceding fiscal year.
Pitney- -B0wes, Inc, earned $312,-
294 In the March quarter VS.. $751;
041 year earlier.
Hoving Corp. net income for three
months ended April 30 was $98. .s76
VS.. $185,315 in the same 1947 period.
Cluett, Peabody & Co. announced
that Barry r. Leithead, vice presi-
dent of sales, will become president
to succeed c. r. Palmer, who will
retire October /.
National Distillers Products Corn.
appointed Edgar r. Olson director
of research.
kaise--Frazer Corp. appointed
Frank j. Brosnan eastern divisional
sales manager.