Evening star., 1949-02-13
Business Briefs
Business inventories at the

D0SSs5SSS DgGCGS
| Business Inventories at the end
Of December approximated $54,-
000, 100000. q drop Of $1,400, ,000,-
600 from a month earlier-Com-
merce Department. The decline
was somewhat larger than tho
usual year end decrease.
Building Costs already have
dropped from 80 to more than
SO. reported Dow Service, Inc,
in it's semi-annual survey. Most
of the declines were attributed to
substantially lower lumber prices.
New Securities sold publicly by
underwriters in January declined
well below December levels, but
remained above November marks
Investment Dealers Digest. Cor
porate offerings totaled $269, $685.
779 VS.. $360.446.536 in December
and 1921 ,09l. .161 in November.
Automobile Production in the
United States in the last week
totaled 105,088 units VS.. 98,968 in
the previous week and 1883 in
the like 1948 week-Ward's Auto
motive Reports.
Bituminous Coal Output in the
week ended February approxi-
mated 11,350,000 tons VS.. 10,46O,-
900 in the previous week, and un-
changed from the same 1948
week-National Coal Association.
New York State Electric e. Gas
Corp. registered with the SEC
100000 shares of it's $25 par COM
mon stock now owned by General
Public Utilities Corp. General will
offer the shares to its own holders
at the rate of l for each 10
General shares held.
Ohio Public Service Co. asked
SEC permission to sell 638,160
common shares and S10,000,000 Of
first mortgage bonds at COMPETE
tive bidding. The shares are held
by Cities Service Co.
Long Island Lighting Co. asked
SEC permission to issue $16,00O,-
900 Of 20-year sinking fund de.
bentures to finance retirement Of
$5,974 900 of debentures and $10.-
100000 of bank loans.
Dan River Mills declared a divi-
dend of so cents common share,
payable April l.
Micromatic Hone Corp. declared
a dividend of 10 cents a common
share, payable March 18. Last
previous payment was in 1945.
Montgomery Ward & Co. sales
for January totaled $66, $50, ,902, a
drop Of 1919 from January, 1948;
for IL months ended January 81,
81 1903, ,321 1854. a gain of $50 from
the previous year.
Remington Rand, Inc, earned
STATISTIC or $245 q share in
1948 VS.. $16,399,697 or 1884 In
the previous year.
United States Gypsum Co. net
income for 1948 was $24,596, ,688
or $15.04 VS.. $16,531,744 or $40
in 1947.
Bell Telephone Co. Of Pennsyl-
vania earned sl2.177,389 in 1s48
VS.. $13, ,498 ,581 in the previous year.
Archer-Daniels Midland Co. net
for six months ended December
81 was $5,978,407 or $3.65 VS.. $4,-
730,355 or $3.50 in the same 1947
period.
Chesapeake Corp. Of Virginia
earned S3,036.044 or $685. in the
fiscal year ended January 2 VS..
$3,337,487 or $7.21 in the previ-
Gus year.
G. C. Murphy Co. net income
for 1948 was $9,5Sl,331 or $4.76 VS..
$3.50, ,083 or $4.25 in l947.
Consolidated Cigar Corp. earned
81, AS, ,268 or 1881 in 1948 VS.. So
588,561 or 1892 in the previous
year.
Continental Steel Corp. profit
for 1948 was 81 1,625,150 or 1924 VS.,
81 .296,874 or $2.58 in 1s47.
Sunshine Mining Co. earned
S235, ,949 or 16 cents In three
months ended December 81 VS..
S325, $40 or % cents year earlier.
Valspar Corp. net for IL months
ended November 80 was s666 1863
or SLOT VS.. $675,435 or $1.0e In
the preceding fiscal period.