Evening star., 1950-01-12
Business Briefs

Business Loans Of member
banks in leading cities declined
to $13.851 ,000. 900 on January 4,
a drop of $50 .000, 900 from a week
earlier and $l,523 ,o0o, 900 below q
year earlier - Federal Reserve
Board.
Bank Clearings in IS leading
cities totaled $4,000, ,79S,0o0 Ia
the week ended January IL, q
slight drop from $l4,292 ,342. 900
in the previous week, but were
6.2% above the like 1949 week
Dun Bradstreet. I,
Automobile Produetfo a this
week will rise to 145,323 units
Automotive News. This will in
clude 12l,261 cars and 24,062
trucks VS.. 92,074 and 1895 last
week.
Engineering Construction
awarded this week totaled $193,-
494, 900, a drop of 40% from the
previous week, but 46% above the
like 1949 week - Engineering
News-Record. Last weeks total
was boosted by 5000, 100000 Of
atomic energy plant construction.
Lionel Corp. declared a quar-
terly dividend Of IS cents and an
extra Of so. cents. both payable
February %. Previous quarterly
payments were Is cents.
Greyhound Corp. announced 4
plan to obtain outstanding com.
mon stock Of Southeastern Grey
hound Lines by offering one Grey
hound share and 1920 cash for |
each Southeastern Greyhound
share. The ICC and Southeastern
Greyhound holders would have to
approve the plan.
New York, Chicago & st. Louis
Railroad was reported discussing
the possibility of leasing the Pitts
burgh & West Virginia Railway
with Pennroad Corp, which con-
trolls the P. & w. ". Talks were
said to be still in the preliminary
stage.
Commonwealth Of Massachusetts,
awarded $14.950. 900 of bonds to a
group headed by Bankers Trust
Co. OF New York on bid Of 100. .03
for a 1Ha% coupon. Two higher
bids were rejected because of err
rors In the good faith" checks.
United Gas Corp. received SEC
permission to sell $25, ,000, 900 Of
f1rst mortgage collateral trust
bonds at competitive bidding to
finance construction.
Inland Steel Co. announced an
agreement with Steep Rock Mines,
under which Inland will explore
and develop new iron mine near
Steep Rock Lake. Ontario, 15O|
miles west Of Port Arthur.
Minute Maid Corp. stockholders
approved an increase In author
lied common stock to 1,5Oo. 900
shares from l.050,000 and author
lied the board to introduce q newl
issue whenever more funds ale|
needed. They also approved public
sale Of 100000 more common
shares to finance purchase OF
Florida orange groves from Dill
Giorgio Fruit Corp.
United States Steel Corr. stock
holders will vote February ~ on |
proposed plans for employee pen
sion and insurance benefits.
]. C. Penney Co. sales In De-
cember totaled $132,548,430, al
gain Of 3.48% from a year earlier:
In 1949. $3.50. 1872, ,488, q drop OIL
So from 1948.
j. p. Stevens d Co. earned
$17.7s4, 4,7so or $5.l4 q share in the |
year ended October 81 VS.. $28.-
015,270 or $8.10 in the previous
year.
Lukens Steel Co. net income for
the year ended October 80 was
$1.930,045. or $6.07 share VS..
$2,072. .666 or $6.52 in the preced-
ing fiscal period.
Consolidated Grocersa Corn.
earned $854.949 or s5 cents in IL
weeks ended December 10 VS..
$1s036, 800 or $l.15 i year earlier.
Walt Disney Productions re-
ported q deficit Of $93, ,899 for the
year ended October 81 VS.. q loss
Of $39.036 In the previous year.