Evening star., 1948-10-05
Business Briefs

Business Failures rose to IL in
the week ended September 30, high
est point since August S, and COM
pared with 101 in the preceding
week and 81 In the like 1s47 week
Dun & Bradstreet.
Borrowings by Member Firms of
the New York Stock Exchange stood
at $3o5 .575, ,669 on September 80 VS..
1928, ,489,473 . month earlier and
$373,572,2s5 a year earlier.
New York Silver Price was ad-
vanced "a of a cent to II cents an
ounce, highest since March II. 1947
and the fifth consecutive daily rise
Pacific Gas & Electric Co. awarded
SIS, 900 of 31sqo bonds, due 1873.
to Halsey, Stuart & Co. and reoffer.
ing was executed at a price to yield
310T.
Illinois Central Railroad asked
ICC permission to issue $5,5000O
Of equipment trust certificates.
Michigan-W Wisconsin Pipe Line Co.,
. subsidiary Of American Light &,
Traction Co., asked SEC permission
to sell sec, ,000000 Of first mortgage
bonds to insurance companies to
finance new construction.
Hudson Bay Mining e. Smelling
Co. declared an extra dividend of 81
and a regular quarterly of 81 in Ca
madam funds, both payable Decem-
Der 13, raising 194S declarations to
IS VS.. 50 in 1947.
Anderson, Clayton & Co. declared
an extra dividend of 81 and a regu-
lar quarterly dividend of so cents,
both payable October %.
National City Bank Of New York
reported deposits totaled s4,664,-
100000 and resources $5,043 900, 900
on September 80, including City
Bank Farmers Trust Co., VS.. $4,-
747,000,000 and SIS, ,131 ,000, 900 on June
30.
Southern Pacific System had a
net income Of $30,904,219 or s8.19 a
share In eight months ended August
81 VS.. $27,277,424 or $7.23 in the
same 1947 period.
Eagle-Picher Co. earned $685.
OBJ or 1910 in nine months ended
August 81 VS.. $3,133,730 or 1882 a
year earlier. Net for three months
ended the same date was s1,417, ,999
or $l.59 VS.. $934,705 or $105.
Avco Mfg. Co. net income for nine
months ended August 81 was S.
323,079 or IA cents VS.. $4,622.314 OF
63 cents in the same 1947 period.
United Electric Coal Companies
earned $3,183,445 or s5.79 in Il
months ended July 81 VS.. 1928 sos OF
$1.6s in the previous year.
Serrick Corp. profit for IL months
ended June 80 was s722,97 VS.. $780,
334 in the preceding fiscal period.
American Fruit Growers, Inc.
earned $519, 1863 or $1.41 in IL months
ended June 30 VS.. $814,204 or $2.2l
In the previous year.
Rutland Railroad reported def.
cit of $179,S83 in eight months ended
August 81 VS.. a loss of s786,645 ir
the same 1947 period.
Baltimore & Ohio Railroad han.
died 6s,004 cars of freight in the
week ended October 2 VS.. 67,757 ir
the previous week and 70,751 in the
like 1947 week.
Neisner Brothers, Inc, sales fol
September totaled s4,633,5 500, gair
Of 16.9% from a year earlier; fol
nine months, $36,s12,3s7, an in.
crease Of 1867.
Consolidated Retail Stores, Inc.
sales in September amounted tt
eo S1ec cfo a ,-isa ~ 1om frovo q
year earlier; in nine months, $24,.
<03,00l, gain of 12.4%.
H. L. Green Co. sales for Septem.
Der totaled 1926, ,167, a rise of 8.69t
from a year earlier; for eight months
ended September 80, $50, 1857 ,956, 6
gain Of s.1%.
Penick & Ford, Ltd, appointed DR.
]. Max Widmer executive vice pres
tdent.