Evening star., 1950-06-21
Business Briefs
LIST INCLUDES ONLY sELECTEI

Electric Power CONSUMPTION
climbed to 6,011. STA, 900 kilowatt
hours in the week ended June II
VS.. $500, 1927 900 in the previous
week and was 1872 above
S,372 600, 900 in the like 1949 week
Edison Electric Institute. The
latest total was the highest since
March IS week.
Short Interest in Stocks listed
on the New York Stock Exchange
increased to 2,368,946 shares on
June Is VS.. 2.345,210 a month
earlier. The rise came after a
two-month decline.
Hotel Earnings over the Nation
in 1949 averaged the lowest since
1942-Horwath g. Horwath. Net
income averaged only 5.26% on
investment VS.. 1917 in 1948 and
7.70% in 1947. The peak was
8.22% In 1914.
Monthly Treasury Refinancing
plans provide for the Offering
1A% treasury notes in exchange
for treasury certificates of in
debtedness, series F-1950, which
amount to $5.601 .025, 900. The
new notes called series E-19S1,
will bear interest from July and
will mature August /, 1851.
Chesapeake & Ohio Railway
stockholders received a letter from
President Walter j. Tuohy pre-
dieting satisfactory business for
the rest of 1850. Net income for
June Is expected to come close to
the May result of 81 cents a share
VS.. 81 cents year earlier. In five
1850 months. the road earned
$1.15 share VS.. $1.69 in the 1949
period.
Waltham Watch Co. is not in
solvent and there is substantial
equity for stockholders in its as
sets, declared Federal Judge
George c. Sweeney in Boston.
Emerson Radio G. Phonograph
Corp. declared a quarterly divi-
dend of Is cents on new common
stock, payable July IS. This is
equal to so cents a share on old
stock split 2 for l recently. The
company paid 80 cents quarterly
on old stock.
United Board & Carton Corn.
declared a dividend Of IS cents
a common share, payable July II
first declaration since November,
l949.
RayOnier. Inc, declared special
dividend Of Is cents and regular
quarterly of so cents. both payable
August IS.
Sheraton Corp. Of America de-
clared dividend of Is cents a |
common share, payable August /. |
Previous quarterly payments were
10 cents.
American Book Co. declared q /
quarterly dividend Of SIPS, pay
able August l. The company paid
81 in November and a year-end
dividend Of 81 in December, 1s49. |
New. York, Chicago & st. Louis |
Railroad net income for fivel
months ended May 81 was $8,077.-
533 vs.. $7.902.723 in the same
1949 period.
Kansas City Power a. Light Co.
earned $4,593, ,946 or $2.04 a share
in IL months ended May 81 vs..
$4.378,843 or $1.93 In the previous
year.
Iowa Public Service Co. net in
come for IL months ended May 81
was $3.179.558 or $3.50 VS.. 2,609.-
233 or $l.91 In the preceding fiscal
period.
New England Gas e. Electric
Association earned $2,593, ,636 in
II months ended May 81 VS.. $2,-
225,223 in the previous year.
Zonolite Co. net income for the
year ended March 81 was $645, $50
or 66 cents VS.. $520,943 or So
cents in the preceding fiscal
period.
ID. A. Shuttle, Inc, had deficit
Of 1892 sos in six months ended
April 80 VS.. a loss Of sos. .09l in
the same period last year.
J. C. Penney Co. elected George
E. Mack executive vice president
to succeed F. w. Binzen. who will
retire July l, but will continue as
a director.