Evening star., 1949-09-27
Business Briefs
Business Failures declined tf

Business Failures declined to l69
in the week ended September ~
vs.. 185 in the previous week, but
remained above 10l in the like
ls48 week-Dun g. Bradstreet. For
the like week of prewar 1899 the
total was 239. New interpretations
in August totaled 6,82S vs.. 6,424
in previous month and 6,723 a
year earlier.
Union Oil Co. of California de-
clared a quarterly dividend of so
cents a common share, payable
November 9. Previous payments
were 62la cents.
Gotham Hosiery Co. declared q
dividend of Is cents, payable No.
vember l. Previous quarterly pay
ments were 40 cents.
Travellers Insurance Co. stock
holders will vote October 81 on q
proposed 1000 increase in COM
pany capital and that Of two
subsidiaries. Capital would be In
creased to $4,000, 900 by trans
ferring $20,0o0,0o0 from surplus
account and issuing 4 new share
for each share held.
Eastern States Corp. won back
the right to go through with its
stock-trade offer to preferred
holders when Federal Judge VIII
liam c. Coleman at Baltimore
announced he would sign an order
today dissolving a temporary In
junction against the proposal.
Iowa Illinois Gas g. Electric Co,
registered with the SEC S10,0oo.-
600 of 30-year first mortgage
bonds to be sold at competitive
bidding to finance construction
and acquire additional property.
United Corp. received SEC per.
mission to sell $4,000 more COM
mon shares of Columbia Gas
System on the New York Stock
Exchange in the next three
months.
Union Electric Co. asked SEC
permission to sell $50, 900 shares Of
preferred shares at competitive
bidding to finance construction.
International Business Machines
Corp. reported foreign sales Of
electric accounting machines in
the first eight months of l949
were 20% above a year earlier.
Botany Mills, Inc, has signed a
contract under which Master
Clothes of Philadelphia will make
and distribute all Botany brand
boys apparel.
Norfolk & Western Railway net
income for eight months ended
August 81 was $15,198,217 or $3.50
q share VS.. $23,l44.947 or $4.01 in
the same 1948 period.
Chicago, Burlington & Quincy
Railroad earned $5,76o.219 or $3.57
IN eight months ended August 81
vs., $18.134,651 or $10.62 a year
earlier.
New York Central Railroad net
income for eight months ended
August 81 was $3,412,e57 or 50
cents VS.. $10.816,560 or $1.68 in
the same l948 period.
New York, Chicago & st. Louis
Railroad earned $7,790,166 in
eight months ended August 81 vs..
50, ,466, ,080 a year earlier.
Illinois Central Railroad net for
eight months ended August 81 was
50. 8.949 ,688 or $6.04 VS.. $780, $40
or $9.01 in the same 1948 period.
Pittsburgh g. Lake Erie Railroad
earned $3,743,817 or $4.33 in eight
months ended August 81 VS.. S.
242.381 or $6.07 a year earlier.
Standard Products Co. profit for
IL months ended June 80 was
$405,571 or $1.35 vs.. a deficit OF
$359,783 in the preceding fiscal
period.
Adam Hat Stores earned $19l,-
140 or IS cents share in six
months ended June 80 VS.. $169, $50
or 40 cents a year earlier. u
Baltimore & Ohio Railroad
handled 46,018 cars Of freight in
the week ended September "a
VS.. SIS. .469 in the previous week and
81, 7,757 in the like 1948 week.
Dan River Mills announced the
resignation Of John M. Hughlett
as vice president in charge of
sales, effective Immediately. He
will be succeeded by w. w. Luf-
bin ~ aec{Stanf oenora1 eo1asi