Evening star., 1949-12-19
Business Briefs

Sales of Independent Retailers
in November we're go below the
record set in the same 1948
month, but were 10 above the
previous month Commerce De-
partment. Gains from a year
earlier were reported by motor
vehicle dealers, furniture stores
and filling stations. Largest de-
clines were in hardware, jewelry.
apparel. dry goods and general
merchandise.
Fire Losses in the United States
totaled $53,116.000 in November,
a gain of $50 from the previous
month and $50 above the like 1948
month-Board of Fire Under
writer's. Losses in II months to-
tailed s600.257 900. a drop Of 6.4%
from a year earlier.
Allegheny Corp. invited holders
Of its prior preferred and series A
preferred stocks to tender all OF
part of their holdings in exchange
for other stocks in Alleghany's S
portfolio.
Alexander Smith & Sons Car
pet Co. increased prices on woven
woolen carpets and rugs an aver
age of SO, effective January 2.
Louisville & Nashville Railroad
has set aside $11 100000 to buy
So diesel locomotives. to construct
new diesel facilities and to pur-
chase 500 freight cars. Deliveries
are expected to start next April
and be completed before the end
Of 1850.
American News Co. declared an
extra dividend of 81 and a regular
bi-monthly of Is cents, both pay
able January 13. The company
paid like extra in January, 1949.
Harris Hall & Co. ordered a
dividend of rs cents a common
share, payable December %. The
previous payment Of SO cents De-
cember, l948, was the only divi-
dend for that year.
Cory Corp declared a dividend
of 10 cents a common share, pay
able December 20. The previous
payment was 1712 cents in June,
1948.
Industrial Brownhoist Corp. de-
clared an extra dividend of 10
cents, payable December 20, and
a regular quarterly of Is cents,
payable February i. An extra of
Is cents was paid in December,
1948. - -.-.s
Fort Pitt Bridge Works ordered
an extra dividend of $3.50 a COM
mon share. payable December 20.
With Is cents paid in each of
three preceding quarters, the
years total is $3.50 VS.. IS in 1949.
Swift g. Co. earned $25, 5,826,129
or $4.36 a share in the year ended
October 29 VS.. $27 7,889.21 or SAT-
in the previous fiscal year.
Virginia Electric & Power Co.
net income for IL months ended
November 80 was $7,667 ,692 or
$1.69 share VS.. $5.798,797 or
$1.47 in the preceding fiscal pc
riod.
Illinois Power Co. earned So
398,477 or $3.44 In IL months
ended November 80 VS.. $5,935 .878
or 1910 in the previous year. !
New York sStsAe. Electric e. Gas
Co. net for 10 months ended No
vember 80 was 81. .156 1863 or $4.55
VS.. $4,454.430s OF 1850 in the pre-
ceding fiscal period.
Spencer Kellogg & Sons earned
$799, sos .or IS cents in the 12I
weeks ended November 10 VS.. ST.
502,1T or 1923 year earlier. i
Brown Shoe Co. net income for
IL months ended October 81 was
50, ,543,0 ,052 or $4.84 VS.. $2,555 ,O79
or $4.87 in the preceding fiscal
period.
Chicago Great Western Rail-
way earned 81 ,626, 800 in Il months
ended November 80 VS.. $2,702, ,797
q year earlier.
International Derrick & Equip
ment Co., a subsidiary of Dresser
Industries, elected George w. Wal
ton executive vice president and
q member of the board.
Keystone Portland Cement Co.
elected Charles e. Shearer execu-
tive vice president. Joseph B..
vice president in
charge of sales and Paul F. Maurer
vice president In charge OF PROF.
duction.