Evening star., 1949-12-30
Business Briefs
Money in Circulation declil

Money in Circulation declined
to $27,765 100000 on December
%, a drop of 100000 from a
week earlier and $500. 100000 be-
low a year earlier-Federal Re-
serve Board.
Industrial Production rose nearly
80 in November and showed signs
of making almost as great gain
in Observation-Disclosures Reserve
Board. Department stores sales
showed more than the usual sharp
pre-holiday rise.
Auto Production in 1949 will set
a record Of 6,250,471 units. includ-
ing 5,120,556 cars and 1.129,9l5
trucks-Automotive News. The
previous record was 5.25S,42o cars
and trucks in 1929.
All Domestic Securities Markets
will be open for two hours tomor-
row, but will be closed Monday.
Commodity markets will be closed
both tomorrow and Monday.
Ford Motor Co. reported 194e
production Of l.426,727 cars,
trucks and coaches. and expects
another high volume in 1850.
Company employment averaged
$4,000 persons in 1949, including
10000 in the Detroit area.
The World Bank called for re-
demption- February II an issue
Of $1o0.000.000 10-year. 2A%
bonds. due in 1857, at 101 plus ac-
crued interest to February II.
Columbia Gas System registered
with the SEC 304.99s common
shares to be sold at competitive
bidding to finance construction.
Minute Maid Corp. registered
with the SEC 100000 shares of
l0-cent par value common stock,
Of which 100000 will be offered
by the company and 10000 by
J.. H. Whitney & Co. Proceeds
will be used to develop Florida
citrus grove properties.
Bell Telephone Co. of Pennsyl-
vania declared a quarterly divi-
dend of 50 a share. payable De-
cember 81. Previous payments
were $3.50 quarterly.
Ogden Corp. declared an initial
distribution in liquidation consist
ing Of one share of Barnsdall Oil
Co. common for each 40 shares Of
Ogden Corp. common, payable
January "a.
Union Pacific Railroad System
earned $41, ,018, ,663 or $40 a share
in II months ended November 80
VS.. $62,56l ,006 or $13.25 a year
earlier.
Pennsylvania Railroad had a
deficit of $2,231 1856 in II months
ended November 80 VS.. net in
come of $32.922.s43 or $3.50 a
share in the same l948 period.
Pacific Telephone 4 Telegraph
Co. earned $26.723.676 or s6.32 in
IL months ended November 80 VS..
s26, ,297,355 or $710 in the pre-
vious year.
Superior Oil Co. California;
net income for three months
ended November 80 was 1881. .053
or $4.33 vs.. $2,733,505 or $6.46 in
the same 194s period. A special
stockholders meeting scheduled
was adjourned until
March 81. pending Treasury ap-
proval Of a reorganization plan.
Northern Pacific Railway earned
81. $3.50, ,943 or $1.s9 in II months
ended November 80 VS.. $8,639.619
Or $3.48 a year earlier.
Riegel Textile Corp. net income
IN 48 weeks ended December 3 was
81 ,786,219 or 1896 vs.. $4,836,293
Or $11.43 in the like 1948 period.
Leslie Salt Co. earned 1891 ,018
Or $3.19 in the year ended Oc-
tober 81 VS.. 81, ,099 ,s39 or $3.78 in
the previous year.
Wentworth Mfg. Co. net income
or the year ended October 81 was
;609, 1897 or, $1.43 VS.. $5l1,095 or
Il 30 in the preceding fiscal period.
Braniff Always earned $215.887
# 81 cents in nine months ended
80 vs.. $155,955 or Is
'entS a year earlier. !
Standard Oil Co. of California
lected r. G. Follis board chair
nan to succeed H. D. Collier. who
esigned but will continue as q
lirector and chairman OF the
nance committee. II
Western Auto Supply Co. mis-
ouri) elected M. v. Snyder a vice
He is general mer-
L.