Evening star., 1950-04-13
Business Briefs

Bank Clearings in rs leading
cities declined to $12,418, ,586 900
IN the week end April II, drop
OF 1882 from the previous week,
but remained $3.50 ahead of the
like 1949 Week.-Dun & Bradstreet.
Business Loans of member
banks in leading cities declined
to $13,729.000,000 on April S, a
drop of 100000 from a week
earlier and 1898 100000 below a
year earlier.-Federal Reserve
Board.
Automobile Production In the
United States this week will in
clude 114,728 passenger cars and
25,912 trucks VS.. 1O4,235 and 23,-
306 last week-Automotive News.
The latest total was more than
$4,000 above year earlier, despite
the Chysler strike.
Refined Copper Shipments
totaled 123,030 tons in March VS..
112,773 in the previous month, and
the largest monthly total since
March, 1947, when 1882 tons
were shipped-Copper Institute.
Stocks on March 81 were down to
60,276 tons, lowest mark since
April, 1945.
Hershey Chocolate Corp. de-
clared a quarterly dividend of so
cents a common share, payable
May Is. Previous payments were
37l2 cents. A year end extra of rs
cents was paid last December.
Central Vermont Public Service
Corp. asked the SEC permission to
sell $2.000,000 of 30-year first
mortgage bonds and 5000 shares
of $100 par preferred stock to re-
tire notes and finance new con-
struction.
M. Lowenstein & Co. reported
sales in the March quarter were
1870 above a year earlier. Profit
would equal about $3.50 q share
VS.. $126 a year earlier.
Celanese Corp. of America,
earnings in the first 1850 quarter
were estimated at more than
$40. 100000 or $1.65 a share VS..
1851 ,956 or $1.61 in the preced-
ing quarter and $6,047 ,624 or 95
cents a year earlier.
Avco Mfg. Corp. business will be
improved in its second fiscal quar-
ter ending May 81, said Victory
Emanuel, president and chair
man, at the annual meeting.
WiIcOx-Gay Corp. plants will be
converted to the manufacture of
Majestic television and radio sets,
declared Leonard Ashbach, who
announced acquisition of a sub
stantial equity interest in the
company. He will become board
chairman. He is president of
Leonard Ashbach Co., parent firm
Of Garod Radio Corp.
National Biscuit Co. profit for
three months ended March 81 was
$4,976,521 or u cents VS.. $5,299,533
or II cents in the same 1949
period.
Libbey- -Owens-Ford Glass Co.
earned $7,209,868 or $2.S1 in
three months ended March 81 vs..
$3,895.761 or $1.52 a year earlier.
Mathieson Chemical Corp. net
income for three months ended
March 81 was $2,202,7s1 or $1.62
VS.. 81 ,291 $50 or SLAB in the same
1949 period.
Container Corp. Of America
earned $2,274,432 or 1920 in
three months ended March 81 VS..
$1,974.313 or s1.89 a year earlier.
Hytr0n Radio & Electronics
Corp. net income for three months
ended March 81 was $473, 705 VS..
$l28,906 in the same 1949 period.
Ward Baking Co. earned $751;
942 or AZ cents in IL weeks ended
March IS VS.. $685. ,272 or so cents
for 13 weeks year earlier.
Reed Roller Bit Co. net income
for three months ended March 81
was $3.50. .901 or so cents VS.. $470,-
218 or IS cents in the same 1e49
period.
Magma Copper Co. earned $312.-
083 or 81 cents in three months
ended March 81 VS.. $220,240 or
36 cents year earlier.
Kern County Land Co. net in
come for 1949 was $12,459,9 ,931 or
1923 VS.. $11.292,854 or $5.65 in
1948.
RussekS Fifth Avenue earned
$471,774 or SO cents In 194S vs.
$752.109 or $l.53 in the previous
year.
Con m ercial Solvents Corp.
elected j. Albert Woods president