Evening star., 1948-10-24
Business Briefs
Building Permits issuec

Building Permits issued in 81;
cities reached a record high o1
IS, SOL ,464, ,096 in the first nine months
of 194S. a gain of 41.1% from the
same 1947 period and nearly 300%
above the same 1941 PETROLEUM &
Bradstreet. September permits val
ued at 1869 ,56O,328 were 1.5qo below
the previous month, but were 20.2&
above year earlier, and highest
mark for the month on record.
Automobile Production In the
United States and Canada totaled
l22,8l7 units in the last week, only
slightly below the postwar peak OF
1913, ,l85 reached in the previous week
Wards Automotive Reports.
Alabama Power Co. asked SEC
permission to sell $4,000, 900 Of first
mortgage bonds at competitive bid.
ding to help finance property addi-
tlons and improvements.
Meredith Publishing Co. notified
the Iowa Secretary Of State 1t Is
increasing capital structure from
100000 to $7,000,0 900. The firm pub
fishes the magazines Better Homes
and Gardens and Successful farming
New York, Chicago e. St. Louis
Railroad asked ICC authority to
issue s4,6Oo,0O0 of equipment trust
certificates.
Sylvania Electric Products Corp
reported construction has been
started on a plant at Ottawa, Ohio
that will double the company's out
put of television picture tubes.
Phillips Petroleum Co. President
K. S. Adams reiterated his firm has
no intention of back-trackng" from
a recent hike in crude Oil prices.
Major producers have opposed the
increase as untimely and unjustifed.
GOrham Mfg. Co. declared a divi-
dend of $3.50 a common share, pay
able December Is, raising payments
for the year ended January 81 10
$6.25 VS.. s5.75 in the previous year.
Life Savers Corp. declared a divi-
dend Of $1.30 q common share, pay
able December !, raising the year s
payments to $2.50 vs.. $3.50 q year
ago.
Alexander Smith & Sons Carpet
Co. declared an extra dividend Of 81
and q regular quarterly Of so cents,
both payable December 10.
Sherwin- williams Co. earned $9,-
283,797 or 81 a share in IL months
ended August 81 VS.. $s,408,056 or
$7.08 in the previous year.
Best Foods, Inc, net income for
three months ended September 80
was $1,379,8l5 or 90 cents VS.. $2,-
53l,553 or $169 in the same 1947
period.
Lone Star Gas Co. earned 1924
239 or $l69 in nine months ended
September 80 VS.. $7,303,6 ,638 or s1.33
a year earlier.
Federal-Mogul Corp. profit for
nine months ended September 80
was $1,746,380 or 1912 VS.. $1,68l ,17S
or $301 in the same 1947 period.
Paraffine Cos. earned $957 1856 or
So cents in three months ended Sep
tember 80 VS.. $809,518 or SO cents q
year earlier.
Detroit Steel Corp. net income for
nine months ended September 80
was s3,703,748 or Sab VS.. $3653, ,771
or $4.44 in the same 1947 period.
General Steel Castings Corp
earned $2,446,585 in nine months
ended September 30 VS.. $2,271 ,06O a
year earlier.
National Gypsum Go. profit fol
nine months ended September sc
was $5,545, ,54s or $2.4S VS.. $3,741, ,76C
or $2.04 in the same 1947 period.
Electric Bond & Share Co. earned
$527 ,533 or 10 cents in three months
ended September 80 VS.. $575,222 OF
II cents year earlier.
Kawneer Co. profit for nine months
ended September 80 was S779,967 or
s2.68 VS.. S274,832 or "a cents in the
same 1947 period.