Evening star., 1949-10-13
Business Briefs

Business Loans of member
banks in leading cities expanded
to $13,434,0o0,O00 on October 5,
a gain of $50,000,000 from a week
earlier, but remained $1,877, ,000,-
900 below a year earlier-Federal
Reserve Board.
Wholesale Inventories rose
5000, 100000 in August and retail
stocks increased $500, 900, but
manufacturers inventories were
down $500, 900. .000-Commerce De-
partment. Total inventories of
$50. 400. .000. 900 on August 81 we're
$100.000,000 below month
earlier.
Electric Power Consumption in
the week ended October 8 totaled
S 5,449, 1897, 900 kilowatt hours. a de-
cline of $50 from the like 1948
period-Edison Electric Institute.
It was the first 1949 decline from
the previous year and was attrib-
uted to the steel and coal strikes.
Copper Shipments to domestic
fabricators in September totaled
103.115 tons. largest total since
March, and compared with 90.739
in the previous month-Copper
Institute. Refined copper stocks
on September 80 totaled 193,8901
tons VS.. 217.167 a month earlier.
Automobile Production in the
United States this week will in
clude 122,737 passenger cars and
2O.120 trucks VS.. 121 .088 and 20,312
last week.-Automotive News.
Construction Contracts in 81
States east of the Rocky Noun
tains totaled $1,093.724,000 in
September, a total exceeded only
once before, in June, 1912, when
wartime industrial construction
was at its peak.-F. w. Dodge
Corp. Nine months total was
$7,410.708.000 VS.. $7.345,773, 900 in
the like 1948 period.
Admiral Corp. stockholders will
vote November 9 on a proposed
1000 stock dividend, which would
be paid to holders of record No
vember 81. Profit for nine months
of 1949 was $4.631, ,574 or $4.63 a
share VS.. $2,037,786 or $2.04 a year
earlier.
United Corp. declared a divi-
dend of 10 cents a common share,
payable November %. This is its
first common stock dividend in IL
years.
J. P. Stevens & Co. declared a
quarterly dividend of so cents and
a special year-end dividend of
IS cents. both payable October 81.
Payments for 1949 will total $2.75
VS.. $3.25 in 1948.
Halliburton Oil Well Cementing
Co. declared a quarterly dividend
of 3712 cents and an extra of so
cents, both payable December 20.
Capital Airlines has arranged to
lease three Constellation planes
from Lockheed Aircraft Corp. for
18 months at $17,500 each. The
rental will apply toward the price
of $684, 900 each at which Capital
will eventually buy the planes.
Crosley Motors, Inc, had a loss
of 81 1.030,309 for IL months ended
July 81 VS.. profit of $1.496,854 in
the previous year.
Northrop Aircraft, Inc, reported
a deficit of $3,834,434 for IL
months ended July 81 VS.. net in
come of $520,146 for the preced-
ing fiscal period.
Industrial Rayon Corp. earned
81, GOT 900 or $1.01 a share in
three months ended September 80
VS.. $3,094, ,220 or $2.04 a year
earlier. Net income for nine
months ended September 80 was
Sc. .792 800 or $4.26 VS.. $500, ,149
Or $3.50.
Heymann Mercantile Co. elected
Fred Nova president to succeed
Carl C.. Jensen. Michael Vasti
was elected vice president and a
director.
Continental Foundry e. Ma
chine Co. announced the appoint
ment of Arthur Kuiper as treas
urer to succeed w. /. Spencer,
who has retired.
Blaw-Knox Co. placed H. L.
Barnebey in charge of sales pro
motion, advertising and investi-
CATION Of new processes in the
chemical plants division.