Evening star., 1949-11-10
Business Briefs

ssSS~ 0ssSBS
Bank Clearings in 25 leading
cities totaled $11.221, 1887, 900 in
the holiday week ended November
0, q drop Of 1895 from the pre-
ceding full week and 1897 be-
low the like l948 week-Dun d |
Bradstreet. Election day was chief
factor in the decline.
Business Loans OF member
banks in leading cities rose to
$13.699, 100000 on November 2,
a gain of $4,000, 900 from q week |
earlier. but remained t1,734, ,oo0.-
600 below a year earlier-Federal
Reserve Board.
Electric Power Consumption in
creased to 5,434, ,o24 900 kilowatt
hours in the week ended Novem-
ber S from 5,4S2,753, 900 in the
previous week, but was 2.3To be-
low 5,563.514,0oo in the like le4S
week-Edison Electric Institute.
Engineering Constructio Q n !
awarded this week totaled SILL
289 900. a drop of 34% from the
previous week and 1915 below the
like 1913 period - Engineering
News. Record.
Steel Production in October was
reduced BY the steel strike to the
lowest level In II years---Ameri-
can Iron d Steel Institute. The
October total was only ole, 6,6o6|
tons, smallest since July, 1882,
and compared with 6,5o1 ,906 in
the previous month and 1897 900
in October, 1S4s. i.
United States Gypsum Co. de-
clared an extra dividend of $3.50
and regular quarterly Of 81,
both payable December 81. Oliver
M. Knode was recalled to the
presidency to succeed William L.
Ready. who resigned. Mr.. Ready
was at odds with Sewell Avery,
board chairman.
Norwich Pharmacal Co. de-
clared an extra dividend Of 20]
cents and regular quarterly Of
20 cents. both payable Deem
Der 10. A year ago an extra Of
Is cents and 4 regular Of Is cents
were paid.
Admiral Corp. stockholders ap-
proved doubling Of the company's S
authorized capital stock to 1000
900 shares. The additional 1000
900 shares will be issued Decem-
Der 8 as 10o% stock distribution.
International Paper CO. earned
$35.813.59O or 1856 a share in
nine months ended September 80
w. s45,35s,Ss1 or t12.55 a year
earlier.
international Nickel Co. Of Can
ada had net income of $26,077.-
125 or $168 in nine months ended
September 80 VS.. $29. .920,873 or
$1.95 in the same 1948 period.
New York Telephone Co. earned
$18, ,488,941 in nine months ended
September 80 VS.. $23,4l7,454 a
year earlier. =.e.
Standard Oil Co. of Ohio profit
for nine months ended September
30 was S11,347,253 or $2.98 VI.
sl6. 1922, DAT or $500 In the same
lo4s period.
Southwestern Bell Telephone
Co. earned s1o.6sb.s37 in nine
months ended September 80 vs..
So, $3.50 q year earlier.
Minnesota Mining b MFG. Co.
net income for nine months ended
80 was 9e,o42.4 .407 or1
$4.89 VS.. So, $50. Gal or 34.64 In the
same 1948 period.
Bell Telephone Co. Of Pennsyl-
vania earned e7.e22,S4o In nine
months ended September so vs..
o.5e3. .1e6 q year earlier.
Charles Pfizer & Co. profit for
nine months ended September 80
was $6,184,5 ,524 or $4.09 VS.. S7,402,-
889 or $4.91 in the same 1e48
period. Z
Pennsylvania Electric Co. net In !,
come for nine months ended Sep.
tember 80 was 1921. .S44 vs.. 81
305, ,429.
Food Machinery & Chemical II
Corp. earned $4,144,4 ,451 or $l.72 In
nine months ended September 80
VS.. $5,191.853 or $2.37 4 year
earlier.
Trans World Airline net income
FOR nine months ended September
30 was $2,381, ,e10 or % cents W.
! deficit Of $l.s1o.ol7 in the same
l948 period. II
General Telephone Corp. earned
81 .3o4 ,266 or 91.72 In nine months
ended September so vs.. t2.505, ,S70 \
or $1.0S 4 year earlier.
Follansbee steel Corp. profit for Il
nine months ended September so
was $88, ,164 or 20 cents W. "a, ,4e2,-
384 or $5.64 in the same 1948
period.
General Time Corp. net income
n 40 weeks ended October 8 was
Il .s90, 1877 or 81 VS.. $2,462, ,283 or
III the like 1913 period.