Evening star., 1950-09-26
Business Briefs
Commercial Paper Rates at New

SUHIflCECAdA i GSCE kNdtCo dI 4NCN
York were 70 of 1gc. The new IN
terest rate is 1871 to 17s% vs..
112fo to 134To previously. Inter
est on commercial bank loans Was
raised last week to 2149o from 90.
Business Failures dropped to
I155 in the week ended September
81 VS.. 165 in the previous week
and 1863 in the like 1949 week.
Dun & Bradstreet.
Stock Exchange Membership at
New York was transferred for
SAT, 1000, a drop of $1,000 from the
last previous sale. The price
equaled the years low set Sep
tember 20.
Pig Iron Prices were boosted
$3.50 a ton to $45 by three major
ironmaking companies at Bir-
mingham, Ala. Rising costs were
said to have forced action.
Atchison, Topeka & Santa Fe
Railway declared quarterly divi-
dend of So common share and
an extra of 50, both payable De-
cember /. Previous quarterly pay
ment was $150 An extra of 50
was paid year ago.
Olympic Radio G. TeleviSion,
Inc, declared a dividend of Is
cents a common share, payable
October Is. Previous payment was
20 cents in July following 20fo
stock dividend in April.
F. E. Myers & Bro. declared a
special dividend of 81 a common
share, payable October 27, raising
payments for the fiscal year ended
october 81 to $3.50 VS.. 81 in the
previous year.
Northwest Airlines, Inc, de-
clared a dividend of 8614 cents a
share on 4.6% preferred stock,
payable November /. The pay
ment represents STU cents of
arrearages to make up for divi-
dends omitted in May and August.
Alabama Power Co. asked SEC
permission to sell 100000 shares
of $100 par preferred stock at
competitive bidding to finance i'm
provements and additions.
State of North Carolina will
market $32 million of bonds prob
ably in November, said State
Treasurer Branson Hodges. The
offering will include $25 million
of school building bonds and $7.5
million for port improvements at
Morehead City and Wilmington.
Kaiser-F Frazer Corp, averaging
a daily output of 1,200 cars, is
back in the earnings column, said
Edgar F. Kaiser, president. Out
put will be stepped up to 1000
daily in December. he declared.
Barium Steel Corp. reported un-
filled orders exceed $27 million
and are the largest in the corpo-
ration's history.
Arc Equipment Corp. of Bryan,
Ohio, has acquired the business
and assets of Taylor Machine Co.
of Cleveland.
Illinois Central Railroad Sys-
tenn earned $11,620,440 or So
share in eight months ended Au-
gust 81 VS.. s8,949.6S8 or $608 a
year earlier.
Wabash Railroad net income for
eight months ended August 81
was $4,361,661 VS.. $2,172,747 in
the same 1949 period.
Texas G. Pacific Railway earned
$4,249,622 or 1893 in eight months
ended August 81 VS.. $3,273, 1896 or
$6.4o year earlier.
Air-Way Electric Appliance Co.
net income for eight months ended
August 81 was $948,531 or S2.58I
VS.. $728,989 or $1.99 in the same
1949 period.
United Dyewood Corp. elected
R. Herbert Bailey board chairman
to succeed Walter A. Lynch, Dem
ocratic member of the House, whc
is campaigning as Democratic
candidate for Governor of New
York.
Baltimore & Ohio Railroa.
handled 65,273 cars of freight in
the week ended September % VS..
65.003 in the previous week and
46,018 in the like 1949 week.