Evening star., 1949-09-04
Business Briefs

| Business Briefs
Steel Demand is levelling off at
the higher level attained in recent
weeks and is expected to remain
fairly constant unless interrupted
by labor troubles.-Magazine Steel.
Business Curve has reached bot
tom and is rising, with both pro-
duction and new orders increasing.
National Association of Purchas-
ing Agents.
Automobile and Truck output
dropped to an estimated l48.4l5
units last week VS.. 155,367 the week
previous. The slack was blamed
principally on the approaching
holiday.-Ward's Automotive Re-
ports. Production of vehicles SO
far in 1949 has exceeded 4,500. 900
VS.. 3,637 ,S59 in the like 1948 period.
General Electric Co. is spending
81 100000 for facilities to make
television picture tubes at its
Syracuse plant.
Aluminium Co. of Canada. has
reduced operations at two smelters
by 1919 to 15%, ascribing it to a
cut in export demand for alu-
minum.
Fruehauf Trailer Co. sales for
the first six months of 1949 was
down to $38,092,272 VS.. $42.741 ,252
in the like 1948 period. Possibility
of revised weight and size limits
by States is seen as factor in
the decline.
Universal Laboratories, Inc, OF
New York has sold its cosmetic
division of Nestle-Le Muir Co. OF
New York. Sale price was not
disclosed.
Westinghouse Electric Corp. ap-
pointed w. c. Rowland manager
Of the manufacturing and repair
division, replacing Vice President
H. F. Bee who headed the 'divi-
sion since 1888.
Timken Roller Bearing Co. will
lay off 649 workers in its bearings
plants indefinitely on September
9. OF these AIS are in the Canton
plant and 234 in the Columbus
tOhio) branch.
Electric Interurban Railroad
operating between Milwaukee and
Waukesha, Visa has been sold to
Jay E. Maeder Of Cleveland, Ohio,
for an undisclosed sum.
Radio Corp. of America has
elected Ernest B. Gornin as treas
urer. Mr.. Gornin has been budget
director of the company since
April and succeeds Arthur B.
Tuttle, now director of foreign in
vestmentS.
Chrysler Corp. has elected L. L.
Colbert and George w. Troost as
vice presidents. Mr.. Colbert is
president of the Dodge Division
and also becomes Chrysler direc-
tor. Mr.. Troost is controller Of
the corporation. |
Eastern States Corp. offers |
holders of it's 81 and Sc cumulative
preferred an exchange for common
shares of st. Regis Paper Co.. a
subsidiary.
Ralston Purina Co. announces |
an extra dividend of 81 q share on
common and regularly quarterly |
so cents, both payable September
Is to record of September 8.
Norfolk Southern Railway de-.
clares a quarterly dividend Of 75i
cents a share. payable September
is to record of September /.
Celotex Corp. profit for the nine
months ended July 81 was $751;
s21 or rs cents VS.. $5,o20,657 or
$3.50 a year earlier.
Chicago Pneumatic Tool Co.
earned $1,79o.514 or $4.46 for the
quarter ended June 80 VS.. 81 ILL.,
GOT or $2.71 for the like 1948
period.
Family Finance Corp. earned
$2,173,561 or $1.73 for the year
ended June 80 VS.. 81 ,890, ,240 or
$l.0o a year cdIllc
Gaylord Container Corp. profit
for the six months ended June 80
was $2,361,764 or $1.o1 VS.. $4.-
229,498 or $1.81 for the similar
1948 period.
Gulf Oil Corp. earned $5l ,442.-
GIT or $4.53 for the six months
anded .Ir,ne an VS. $77.124.470 or
$3.50 in the like 1948 period.
Motor Products Corp. profit for
the year ended June 80 was ST.
719,480 or $6.97 VS.. $2,861 1868 or
1888 a year earlier.
Western Union telegraph Co.
reports a loss of $5,091.7 .795 for the
seven months ended July 81 VS.. a
$1,192,5O0 loss year earlier.