Evening star., 1949-12-06
Business Briefs
Business Failures rose to O

business FaluFeS rose 10 ZZl IN
the week ended December VS..
l48 in the previous week and 1875
in the like 1948 week.-Dun &
Bradstreet.
Construction Costs are expected
to show "a slight upward tenden-
cy" in 1850, but the average for
next year will be about the same
as for 1949.-Commerce Depart
ment. New construction for 1850
should equal the $19.250, ,000, 900
estimate for 1949. Public expen-
ditures are expected to Offset a
drop in private outlays.
Ohio Edison Co. stockholders
were offered 1,136.537 new COM
mon shares at $31.875 a share, on
the basis of an additional share
for each two shares held, by a
Nationwide group Of underwrit-
ers. An additional $3.50 shares
were offered to stockholders by
the company at the same price.
p. Lorillard Co. announced Gre
alton of a new cigar division
headed by Frank Hopewell, vice
president. The Richmond cigar
plant is undergoing complete mod
ernization with new equipment.
Admiral Corp. declared q quar-
terly dividend Of 20 cents on new
common stock, payable December
81. This is equal to 10 cents on
old shares. which received 20 cents
quarterly. A 1000 stock dividend
becomes effective December Z.
Reliance Electric & Engineering
Co. declared q dividend Of 621a
cents a common share, payable
January 81. The company paid
50 cents each in three preceding
quarters and a yearend dividend
of rs cents at the end of its fiscal
year October 81. Il
Montgomery, Ward & Co. sales
for November totaled $115,726,58l,
a drop of 1870 from q year ear
lier; for 10 months ended Novem-
Der 80, 1856 ,999, ,961, a decrease of
12.3% from year earlier.
F. w. Woolworth Co. sales in
November totaled $54,509,17l, a
decline of 1870 from a year
earlier; in eleven months, $780,
237 SIG. drop Of 2.3%.
McCrory Stores Corp. sales for
November amounted to $8,261 500,
a drop of so from year earlier;
in eleven months $79,171,745, al
decrease Of 1877.
Distillers Corp Seagrams, Ltd,
earned $11,498.450 or $1.31 al
share in three months ended Oc-
tober 81 VS.. $11, 1902, All or $l.29 a
year earlier.
Southern Pacific Transports ton
System had net income of ST.
793,o03 or $7.37 in 10 months
ended October 81 VS.. $39,351, 1854
or $10.43 in the same 1948 period.
Chicago, Milwaukee, st. Paul 4
Pacific Railroad earned $2,905. .432
in 10 months ended october 81 VS.
IS, 1896, 900 a year earlier.
Eastern Utility Associates and
subsidiaries had net income of
81, ,979, 1872 in the year ended Oc-
tober 81 VS.. 81. $50. .628 in the pre-
ceding fiscal period.
Hayes Mfg. Co. earned $28,75S
oys oov,fe a ckorA iya %yaraa -, ~, ~ = !
ended September 80 VS.. $683, ,478
or 64 cents a year earlier. Net for
the year ended September 80 was
$l,111,7 ,706 or $1.05 VS.. $3,27i.819
or $3.08 in the previoussyear.
Baltimore 4 Ohio Railroad
2l5,021 cars of freight In |
VS.. 1855. 5.598 in the pre-
vious month and 271 1893 in No
vember, 1948. Loadings in the
week ended December 3 totaled
s., ,237 cars VS.. 1928 in the pre-
vious week and 59,032 in the like
1948 week.
Grand Trunk Western Railroad
announced the resignation Of
r. C. Vaughn as president and
board chairman. He will be sue
ceeded by Donald Gordon Of Ot-
tawa, deputy governor of the
Bank Of Canada. effective Janu-
ary l.,
Murry Corp. Of America ap-
pointed T. w. Hardy vice president
in charge Of the home appliance
division.
Archer Daniels Midland Co.
elected Glenn F. Hits executive
vice president in charge Of South
western operations Of Command
er-Larabee Milling Co.
D.