Evening star. [volume] (Washington, D.C.) 1854-1972, 1949-12-01
Business Briefs


Il Business Briefs II
Bank Clearings in Is leading
cities dropped to s11, 268. 746 900 in
the holiday week ended November
80, decline of 22.2 per cent from
the preceding full week and were
1912 per cent below the like 1913
week-Dun 81 Bradstreet.
Business Loans OF member banks
in leading cities declined $l3.772,-
100000 on November %, a drop
of 100000 from a week earlier
and were $1,787 ,00o.0 900 below a
year earlier - Federal Reserve
Board.
New Car Registrations for Oc-
tober are expected to exceed 1885,
900 units, a new alltime monthly
record, which would compare with
the previous record Of 478.556 set
in August-R. L. Polk & Co.
Crude Oil Production In the
United States averaged 5,191 $50
barrels daily in the week ended
November rs VS.. 5,211.050 in the
previous week and 5,666,450 in
the like 1948 week-American
Petroleum Institute.
Rumors Of Higher Interest on
one-year Government borrowing
were ended by a Treasury an
nouncement that 1854, 900 900 Of
|1A9o debt certificates due jan
uary / would be refunded through
exchange for a like amount of
I1h% certificates. New 4A-year
I1A% notes will be offered In
Exchange for $4,S94. 000.0 900 Of
bonds and certificates maturing
december IS. Rates on the old
issues range from go to 3h%.
/ Tin Price at New York was
quoted at 1914 cents a pound for
spot delivery following the arrival
, Of supplies from the Far East.
This was IA cents q pound below
the RFC prices set last week and
was a new postwar low for high
grade tin.
Midwest Stock Exchange opened
its trading floor in old quarters of
the Chicago Stock Exchange. The
new market is a merger Of the
Cleveland, st. Louis. Minneapolis
st. Paul and Chicago exchanges.
Cit-Con Oil Corp, which is
owned IS per cent by Cities Service
Co. and IS per cent by Continental
Oil Co., completed its $4,000, 900
lubricating oil refinery at Lake
Charles, La.
Wayne Knitting Mills has &C
quired common stock of Archer
Mills, Inc, through an exchange
of stock.
Firth Carpet Co. announced a 5
per cent increase on all its carpet
lines, effective December S.
Standard Oil Co. Of California
declared a stock dividend Of one
share for each 20 shares held,
payable January q to holders of
record December 8.
Elliott Co. declared an extra di-
vidend of so cents and regular
quarterly Of rs cents, both payable
December Is. lifting 1949 pay
ments to sits VS.. $3.50 last year.
Novadel-Agene Corp. declared q
dividend of Is cents and an addi-
tional dividend of Is cents, both
payable December 20. A payment
of Is cents in October was the first
since October, 1948.
Stromberg- Carlson Co. directors
took no action on a comman divi-
dend usually declared at this time.
Corning Glass Works declared a
quarterly dividend of 1917 cents
and an extra of so cents, both pay
able December %. The extra will
be the first on the stock.
General Finance Corp. declared
a 1919 stock dividend on COM
mon stock, payable December %.
The company also pays 712 cents
quarterly.
Botany Mills, Inc, ordered al
quarterly dividend Of Is cents a.
common share, payable January !.
No action was taken in August.
Net income for 80 weeks ended
October 2 was 1894, S42 VS.. $685.
764 a year earlier.
American Snuff Co. declared an
extra dividend of 60 cents and a
regular quarterly of go cents, both
payable January 3. Previous
quarterly payments were so cents.
The company declared Is cents
additional last November.
Chicago, Rock Island & Pacific
Railroad net income for ten
months ended October 81 was
$1S,758,707 or $7.68 a share VS..
$15,164,673 or $8.67 in the same
1913 period.
Allied Stores Corp. earned ST.
147,331 or $1.39 in the quarter
ended October 81 VS.. $4,634,807
or $2.11 a year earlier. 49,
Royal Typewriter Co. net income
for the quarter ended October 81
was $846,425 or u cents VS.. ST.
OCT ,658 or SO cents in the same
1913 period. .
Addressograph- Multigraph Corp.
net income for three months
ended October 81 was $1.072,513
or 81, ~ VS.. 5000. 148 or $1.l9 in the
same 1913 period. /
American Cable q Radio Corp.
had deficit Of $601,645 In nine