Evening star., 1949-12-04
Business Briefs
Automobile Production ou1

Automobile Production outlook
for December has been improved
by the quick recovery in steel out
put-Ward's Automotive Reports.
Last weeks auto output, estimated
at s6.559 units, was the lowest
since the first week of 1948. The
drop was attributed to shutdowns
caused by steel shortages and
model change-overs.
Cotton Textile Dealings in New
York slowed down in the last
week. but prices remained firm,
according to the Associated, Press.
Prices were at best levels since
buying revived late in July. The
market is generally quiet through
December.
Copper and Zinc Buying was
active in the last week, but de-
mand for lead continued sluggish.
Prices of all three held unchanged.
Tin prices eased four cents a
pound to 81 cents. Copper orders
for December shipment already
total around $4,000 tons.
Crude Oil Production can be
expected to tumble sharply in the
coming week. Production al
lowable cutbacks approximating
243.000 barrels became effective
Thursday in Texas, Oklahoma
and Kansas.
Goodyear Tire & Rubber Co.
announced it will boost tire and
rubber prices 312 per cent at mid
night. December Z. Goodyear is
the last major producer to in
crease prices for the second time
this fall.
General Motors Corp. produced
BOT 1863 passenger cars and trucks
in the United States and Canada
during November VS.. 242.844 in
the previous month. The total
for the year to date was 2,629,151
VS.. 1865 a year earlier.
Magnavox Co. registered with
the SEC 100000 shares Of class A
81 cumulative convertible prefer
ence stock, SIS par value. The
new share will be convertible into
81 common stock on a share-for-
share basis. An unspecified num-
beer Of common shares also were
covered by the registration.
Borg-Warner Corp. declared an
extra dividend of 81 and a regular
quarterly of 81, both payable jan
uary 3. @
Briggs Mfg. Co. declared a divi-
dend of $3.50 a common share,
payable December %. raising 1949
payments to So VS.. $3.50 in 1948.
Miami Copper Co. declared an
extra dividend Of so cents, payable
December %. The company paid
SO cents each in October and
March plus an extra Of Is cents
in March.
LC. Smith & Corona Typewrit-
ers, Inc, declared a dividend of
Is cents common share. payable
January 8. Dividend action was
deferred In September and June
this year.
National Rubber Machinery Co.
directors decided to omit the reg
ular quarterly common dividend
usually declared at this time.
President Frank said the com.
pany would show a deficit for
1949.
Universal-C Cyclops Steel Corp.
declared a quarterly dividend of
Is cents and an extra of SO cents,
both payable December 20, lifting
the 1949 total to $3.50 VS.. 81 last
year.
Denver & Rio Grande Western
Railroad net income for 10
months ended October 81 was
$3.008,321 or $4.70 a share VS..
$6,048.742 or 1884 in the same
1948 period.
r. Hoe & Co. earned 81 1897 1853
in the year ended September 80
VS.. $1,702.384 in the preceding
fiscal year.
Cunningham Drug Stores, Inc,
profit for the year ended Sep
tember 80 was $1,416,429 or $3.71
in the preceding fiscal period.
Hupp Corp. had a deficit of
1895, ,060 in nine months ended
September 80 vs.. a net loss of
$210.849 in the same 1948
months.