Evening star., 1949-11-04
Business Briefs

r-'sSSStSSS,Soo VA 4NOtCAlUCI q,
a gain of 100000 from q week
earlier, but remained $872, 900 900
below year earlier-Federal Re-
serve Board.
Refined Copper Price was ad-
vanced 70 Of a cent to 1917 cents
a pound, Connecticut Valley
basis. by Phelps Dodge Corp.
Kennecott and Anaconda an
nounced similar increases.
Allis- Chalmers Mfg. Co. de-
clared a quarterly dividend of 40
cents and an extra Of 40 cents,
both payable December %. The
extra was the first since 1945 and
raised 194s payments to 50 vs..
$3.50 in 1949.
M & M Woodworking Co. de-
clared q dividend Of is cents a
share, payable November 81.
Previous quarterly dividends were
Is cents. An extra of SIN cents
was paid In November. 1e4s.
Beaunit Mills, Inc, took no ac-
ton on a common dividend usu-
ally declared at this time. Net
income for six months ended Sep
tember 80 was $494, ,975 or Al cents
q share VS.. $2.715,602 or $2.s6 In
the same 1948 period.
Magnavox Co. stockholders will
vote December IL on proposed
issuance Of preferential stock tc
finance retirement Of bank loans
and increase working capital.
General Electric Co. announced
1t would repay the final half of a
5-year $50,o0o.000 bank loan two
years ahead Of time. The loan
was negotiated In December 1916.
Dresser Industries, Inc, an
nounced the purchase Of Magnet
Cove Barium Corp. Of Houston for
ABOUT $2,8oo,oo0 cash plus 1855
shares of Dresser common,
Continental OIL Co. earned s2s-
665,8l5 or 1894 a share in nine
months ended September 30 VS.,
1871 ,005 or $500 a year earlier,
New York Telephone Co, net
income for three months ended
September 30 was $6,s22,124 VS.
$5,866, 1892 in the same ls4s period
American viscose Corp. earned
Sll ,486. 900 or $5.19 In nine months
ended September 80 VS.. s24,l33-
600 or $11.36 year earlier,
Sterling Drug, Inc, profit for
nine months ended September 30
was 11,09o,772 or $2.s4 VS., s11,-
OLA or $2.83 in the same 1e4a
period.
Celanese Corp. Of America
earned $10.98s, $40 or $1.58 ia nine
months ended September 80 VS.
S29,7S2.772 or $4.99 a year earlier.
Northern States Power Co.
(Minnesota) net income for nine
months ended September 30 was
$9,874,247 VS.. $7,284,76e in the
same 1948 period.
Household Finance Corn. earned,
SO, AL. .576 or 1894 in nine months
ended September 80 VS.. $7,955. .2s0
or $3.14 a year earlier.
American Metal Co., Ltd, net
Tor nine months ended September
80 was $3,573,544 or $2.67 VS.. So
981 ,4S8 or $219 in the same 1948
period.
Sharon Steel Corp. earned So
543.311 or $5.75 in nine months
ended September 80 VS.. $6,614 230
or $10.72 a year earlier.
National Tea Co. profit In 40
weeks ended October 8 was So
059.S73 or 1894 vs.. $2,79l, 1888 or
$3.49 in the like 1948 period,
Purity Bakeries Corp. earned
81. 1880 or $2.52 in 40 weeks
ended October 8 VS.. $2,746,312 or
$3.4l q year earlier.
Spencer Kellogg & Sons, Inc,
net income Tor IL months ended
August ~ was $3,701.5 .599 o. $3.O3
VS.. $6,s34,3o0 or $5.e7 in the pre-
ceding fiscal period.
Cleaner Harvester Corp. earned
$2,543,356. or 1886 in the wear
ended September 80 VS.. $2,526, 1928
Or $6.32 in the previous year.
Lane-Wells Co. profit for nine
months ended September 30 was
81 .679,60o or $4.67 VS.. 81 1886, 800
'r $6.09 in the same 1948 period. |
Hancock Oil Co. Of California
earned $664,250 or $2.51 in three |
months ended September 30 VS.,
s913,33 or $3.50 q year earlier.