Evening star., 1950-04-04
Business Briefs

February % approximated $18,-
l26, 100000, drop of 1921 200, 900
from month earlier-Federal
Reserve Board. The decline was
described as seasonal.
Business Failures increased to
1913 in the week ended March 80,
compared with 1876 in the previous
week. but remained below ZIG in
the like l949 Week-Dun & Brad
street.
Freight LOadings in the second
1850 quarter are expected to he
about 14go ahead of the same
1949 period-Associati of Amer
lean Railroads.
Duplan Corp. declared a stock
dividend of 29o. payable April %
and regular semi-annual cash
dividend of Is cents. payable Au-
gust l.
American Gas & Electric Co.
registered with the SEC $27,OOO,-
900 of serial notes to be offered at
competitive bidding. Proceeds will
be used to redeem cumulative pre-
ferred stock and pay off other
obligations. or added to general
funds.
Delaware, Lackawana e. West
ern Railroad asked ICC permis-
sion to refund $19,356,O00 of Nor
ris & Essex Construction mortgage
bonds. The bonds are series A
paying SO and series B pay
ing 412%.
General Motors Corp. reported
its Chevrolet Division produced
172.114 vehicles in March to set a
new record. Previous monthly
high was $4,000 units in August,
1949. Buick Division also set a
new record of 48,616 in March.
Previous record was 4O,1O6 last
August.
Philadelphia Co. and subsidiaries
earned $8,653,699 or $1.21 a share
in 1949 VS.. $6,983,704 or SO cents
in the previous year.
Stone e. Webster, Inc, net in
come for 1949 was $6,3S3 OBS or
$3.03 VS.. $6,494,5 ,598 or 5000 in
1948.
American Enka Corp. earned
$6.000,357 or $16.11 in the year
ended January l VS.. $8,02O,676 or
$21.58 in the previous year.
Southern Pacific TRANSPORTATION
System net income for two months
ended February % was $2,O64, $40
or SIS cents VS.. deficit of 81 ,3O4,-
387 in the same 1949 period.
Seab0ard Oil Co. Of Delaware
earned $5.781 BAT or $4.71 in l949
VS.. $6,780,713 or $5,52 in the previ-
GUS year.
Pacific Western Oil Corp. net
income for l949 was $4,973, $3.50 or
1882 VS.. $7,305,4 or s5.32 in
1948.
Eagle -Picher Co. earned $751;
$40 or IS cents a share in three
months ended February % VS..
81 1,551 1888 or STA a year earlier.
DravO Corp. net income for 1949
was $2,998 .084 or $3.50 VS.. $4,l95,-
825 or 1928 in 1948.
Eastern Air Lines, Inc, earned
81 ,967 .905 or 80 cents in 1949 VS..
$2,346,871 or SO cents in the pre-
vious year.
E. & G. Brooke Iron Co. profit
for 1949 was $959,651 or s5.71 VS..
$794,830 or s4.73 in 1948.
Climax Molybdenum Co. earned
$922,794 or 81 cents in 1949 vs..
s2,618,460 or $1.04 in the previous
year.
Alden's, Inc. profit for the year
ended January 81 was $878,742 or
$2.03 VS.. 81 ,482,979 or 1912 in the
preceding fiscal period.
Thew Shovel Co. earned 81 1885,
l39 or $2.57 in 1949 VS.. $685. 6,33l
or 1851 in the previous year.
McQuay-NOrris Mfg. Co. net in
come for 1949 was s376,402 or So
cents VS.. $l,o23,o2o or $2.67 in
1e48.
Baltimore e. Ohio Railroad
handled 63,377 cars of freight in
the week ended April l VS.. $500
in the previous week and 56,933
in the like l949 week.
American Petroleum Institute
elected Frank M. Porter of Okla
homa City president at a meeting
in Houston.
American Chicle Co. elected F.
L. Becker president to succeed
T. H. Blodgett. who continues as
board chairman.