Evening star., 1950-02-05
Business Briefs

Automobile Production in the
United States last week was esti-
mated by Wards Automotive Re-
ports at 12o,223 units. This in
cluded 98,434 cars and 21,78a
trucks VS.. ll,165 and 22.301 in
the previous week and 72,907 and
26,065 in the like 194S week.
borrowing of Member Firms on
the New York Stock Exchange
declined to $637,4 ,522 on Janu-
ary 81 VS.. s674,266,722 a month
earlier.
General Refractories Co. has
contracted to purchase outstand-
ing capital stock of American
Austrian Magnesite Corp. of Pitts
burgh. which through a wholly
owned Austrian subsidiary, owns
magnesite deposits and a brick
plant in that country.
General Motors Corp. an
nounced Buick Division sold more
cars last month than in any
January in its history. Retail de-
liveries of 34,933 units were 15%
above the same 1949 month.
Edward G. Budd Co. will start
work Tuesday on a $1,000, 900
automobile body parts plant at
Gary, Ind.
Greyhound Corp. has aban-
doned its plan to obtain an in
terest in Southeastern Grey
hound Lines, under which holders
OF the latter company would have
been offered one GREYHOUND
share and $500 cash for each of
their shares. An alternative plan
is being considered.
McCord Corp. declared a mid
year extra dividend of Is cents
and a regular quarterly of so
cents. both payable February %.
1t was the first extra since l94s.
Safeway Stores, Inc, sales in
four weeks ended January %
totaled $85,178,474, a drop of s.7%
from a year earlier.
G. C. Murphy Co. sales for JAM
uary amounted to $8,202,134. a
decline of 3.4% from the same
1949 month.
Neisner Brothers, Inc, sales in
January totaled $3,139,194, a de-
crease of s.7To from year earlier.
Consolidated Retail Stores, Inc.
sales In January amounted to ST.
849,815, a drop of 1920 from the
same 1949 month.
Interlake Iron Corp. earned $s,-
153.473 or $3.15 share in 1949 VS..
$5,9S4,642 or $3.04 in the previous
year.
Archer Daniels Midland Co. net
income for six months ended De-
cember 81 was $4,464 ,939 or $2.73
a share VS.. $5,978,407 or $3.65 in
the same 1948 period.
Sharp & Dohme, Inc, earned
$4,75e,s41 or 1896 in 1s4s VS.. $4,-
096,201 or 1929 in the previous
year.
New Jersey Zinc Co. profit for
1949 was $4,390,956 or 1924 VS..
$9,435,814 or $4.S1 in 194S.
Okla homa Natural Gas Co.
earned $3,855,317 or $3.11 in 194e
VS.. $4,245, ,678 or $3.46 In the previ-
GUS year.
Scovill Mfg. Co. net income for
1949 was $1,922,341 or $1.20 VS..
$3,258,64 in 1948.
Southwestern Bell Telephone
Co., earned $16,159,965 or $3.50
in 1949 VS.. $13,587 1886 or 1923 in
the previous year.
Shamrock Oil g. Gas Corp. net
income for the year ended No
vember 80 was $4.S84, ,5s4 or 1888
VS.. $5,753.548 or $4.27 in the pre-
ceding fiscal period.
Rudolph Wurlitzer Co. earned
$159,343 or 10 cents in three
months ended December 81 VS..
$167,848 or 20 cents a year earlier.
Transue g. williams Steel Forg-
ing Co. net income for 1949 was
1852, 1893 or $3.50 VS.. $665, 200 or
$493 in 1948.
Pittsburgh Steel Co. elected
Avery c. Adams president to sue
ceed Joseph H. Carter, who will
become board chairman and chief
executive officer on March /.
Nash-Kelvinator Corp. elected
George Romney a vice president.
He was formerly managing di-
rector of the Automobile Manu-
facturers Association.
Federated Department Stores
announced the appointment of
of Morris Ginsburg as vice presi-
dent. He is a former vice president
of MONTGOMERY Ward G Co.