Evening star., 1950-01-20
Business Briefs
Money in Circulation dec,in

-AooS III SHCuldtlOn QecllneQ to
$27.121 100000 on January 18. a
drop of s19o,O00,o00 from a week
earlier, and $500. 100000 below a
year earlier-Federal Reserve
Board.
Department Store Sales across
the Nation averaged SO below a
year earlier in the second week of
l95o-Federal Reserve Bank.
American Industry Will Invest
around $12,400.000,000 in new
plants and equipment this year, a
drop OF 1870 from 1949, according
to a McGraw-Hill survey.
Cotton Spinning Operations in
December stood at 124.7% of
capacity VS.. 124.8% in the previ-
Gus, month and 1o4.1% in the
same l948 month - Census
Chase National Bank announced
the creation of a $4,000, 900 loan
fund to allow the bank to partici-
pate with $500 correspondent
banks in extending loans to small
businesses in their communities.
Southern Union Gas Co. regis
tered with the SEC $4,000 of
first mortgage sinking fund bonds,
due 1875, 10000 shares of S104
cumulative preferred stock and
SO, 1893 common shares under its
refinancing plan.
Standard Gas & Electric Co.
announced it will apply soon for
SEC permission to sell all common
stock Of either Wisconsin Public
Service Corp. or Equitable Gas
Co. which serves the Pittsburgh.
Pa, area.
w. T. Grant Co. declared a year.
end extra dividend of so cents,
payable February 20, raising pay
ments for the year ended January
81 to $3.50 a share.
Hudson Motor Car Co. declared
a special dividend of Is cents and
a regular quarterly of Is cents,
both payable March /. Similar
special payments were made in
preceding quarters.
Heyden Chemical Corp. directors
took no action on a common divi-
dend usually declared at this time
Previous payments were rs cents
quarterly.
Kawneer Co. declared a dividend
OF 40 cents a common share, paw
able March 81. The company paid
Is cents quarterly last year plus
extras Of 10 cents each in June and
September and an extra of sol
cents and a yearend OF so cents
in December.
Union Pacific Railroad will
spend around $4,000, 900 and en-
ploy 645 additional shopmen in a
freight car acquisition program to
begin this spring, said President
A. E. Stoddard.
j. l. Case Co. earned ST, ,6o7 ,e92
Or $19.77 share in the year ended
October 81 VS.. $10,376, 1888 or s12.47I
IN the previous year.
Public Service Electric & Gas
Co. net income for 1949 was s21
O88,063 VS.. $40, ,400,912 in 194s.
Hooker Electrochemical Co.
earned $3.950,000 or 1920 in the
year ended November 80 VS.. So
52s,S51 or $5.37 in the previous
year.
Island Greek Coal Co. net in
come for 1949 was $3,047,9s7 or
1898 a share VS.. $1,471,057 orl
$2.86 in 194S.
Missouri Pacific Railroad earned
$1,2l1,499 or $4.78 in II months
ended November 80 VS.. 81, 1,996,74l
or $7.87 year earlier.
Dawson Chemical Co. profit for
six months ended December Is
was $4,000 or 80 cents VS.. s617- |
600 or $1.20 in the same 1e4s
period.
Lee Rubber & Tire Corp. earned
s3oo,859 or As cents in the year
ended October 81 VS.. $267,059 or
40 cents IN the preceding year.
Lehn & Fink Products Corn. |
profit for six months ended Decem-
Der 81 was $247,011 or 81 cents
VS.. $378,557 or % cents in the
same 1948 period.
American Telephone & Tele-
graph Co. elected to its board of
directors A. Lee M. Virgins, board
Of the Atlantic Coast
Line and Louisville g. Nashville
Railroads.
Valspar Corp. elected A. H. Glib
son president and Peter L. Shea