Evening star., 1948-12-12
Business Briefs
Another Big Crop Season In 19

| DuS"CSS DIICIS
Another Big Crop Season In 1949
is indicated by weather and soil
conditions in late November.-Agri-
culture Department. In the case OF
the important fall-sown winter
wheat, conditions were described as
more favorable than a year ago.
Wholesale Price Index of the
Bureau of Labor Statistics declined
80 in the week ended December Z
to stand at 163.796 of the 1926
average. The index was .39o below
four weeks earlier and less than 10
above the like 1947 date.
Cotton Mill Output is being cut to
keep mills solvent, not to keep prices
high, declared w. Ray Bell, presi-
dent of the Association of Cotton
Textile Merchants of New York, in
a wire to Senator Ralph Flanders,
Republican. of Vermont, chairman
Of the Joint Congressional Commit
tee on the Economic Report.
Construction Volume in 81 States
east of the Rocky Mountains de-
clined in November to $611,216,000, a
drop of 228o from the preceding
month and 1870 below the same
1947 month. IF. w. Dodge Corp.
Volume in IL months of 1948 totaled
Sc, 1886, ,595. 900, a gain of 22% from a
year earlier.
Advertising Rate Differences be-
tween local and national advertis-
ing are widening and forcing adver-
tising agencies to give close study to
the pros and cons of cooperative
advertising budgets in order to get
top value for the dollar.-Printers
Ink.
Bituminous Coal Production in the
week ended December approx
mated 11,35O,000 tons VS.. 1895, 900
in the preceding holiday week and
13,120,000 in the like 1947 week
National Coal Association.
Atlantic, Gulf & West Indies
Steamship Lines stockholders re-
sponded to an offer of $4750 a
share ex-dividend from Manufac-
turers Trust Co. acting for undis-
closed customers. Holders of at
least $4,000 shares have indicated
acceptance, the bank announced.
Gulf States Utilities Co. registered
with the SEC s15,O0O,0OO of deben-
lures and $4,500,000 of common stock
to be offered at competitive bidding
to finance repayment OF short
term notes and new construction.
Reynolds Metals Co. is planning
a s50O0,0O0 expansion of its alumni
mum sheeting rolling plants at Chi
cago and Muscle Shoals, Ala.
North American Aviation. Inc. de-
clared dividend of so cents a COM
mon share. payable December 81.
A similar dividend last September
was the first since 1916.
Allied Chemical & Dye Corp. de-
clared a special dividend of SO, pay
able December %. A regular quar-
terly of $3.50 will be paid Decem-
Der 20.
Godchaux Sugars, Inc, declared
an annual dividend of 81 a class B
share, payable December 81. The
single payment in 1947 was So.
Kroger Co. declared a quarterly
dividend of $3.50 on its SO preferred
stock, payable January 3.
New Process Co. declared a divi-
dend of $3.50 a common share, pay
able December 27, raising 1948 pay
ments to $3.50 VS.. $11 in 1947.
Ell Paso Natural Gas Co. net in
come for IL months ended October
81 was $5,247 1896 or 1884 share VS..
$3,73l ,413 or $4.84 In the preceding
fiscal period.
Pitney- -Bowes, Inc, earned 1,o20,-
206 or $1.01 in nine months ended
September 80 vs.. $1,029,175 or $lOS
a year earlier.
Crowey, Milner & Co. profit for
nine months ended october 81 was
1896, ,343 or 73 cents VS.. $264,714 or
81 cents in the same 1947 period.
Reynolds Spring Co. earned $780,
019 or 66 cents in II months ended
September 80 VS.. 1864, ,342 or $1.91 a
year earlier.
J. c. Penney Co. sales for Novem-
ber totaled $8S 1902 1888. a gain of
$50 from a year earlier; for II
months. $757,095 ,083, an increase
Of 1870.
Gamble Skogmo, Inc. sales in
November amounted to $12 IT'S ,902, a
drop of 4.5% from a year earlier; in
II months, sl39, 1906 ,432, a rise of
77%.
Institute Of Life Insurance re-
elected Edwin w. Craig of Nashville
chairman of the board and Holgar
j. johnson of York president.
Schenley Distillers, Inc, distilling
subsidiary of Schenley Industries,
Inc, elected John L. Leban presi-
dent.