Evening star., 1950-05-25
Business Briefs
LIsy INCLUDES ONLY SELECTED iss

Bank Clearings in Is leading
cities expanded to $14,040 800, 900
in the week ended May "a VS.. $13.-
817,892,000 in the preceding week
and were 10.3% ahead of $12.727,-
422,000 in the like 1949 week
Dun & Bradstreet.
Business Loans of member
banks in leading cities rose to
1878, 900, 900 on May II, a gain
of $14 million from a week earlier,
but remained 1868 million below
a year earlier-Federal Reserve
Board.
Automobile Production in the
first four months of this year
totaled 2,196,802 units, a gain of
nearly 100000 from the same
1949 period, and about $4,000
ahead of the previous record set
in the same 1929 period-Auto-
mobile Manufacturers Association.
Crude Oil Production in the
United States averaged 5,117,250I
barrels daily last week VS.. 5,ll8,-
$50 in the previous week and
4,959,000 in the like 1949 week
American Petroleum Institute.
Panhandle Eastern Pipe Line
Co. and Trunkline Gas Co. an
nounced completion of financing
arrangements for construction of
Trunkline's projected $50, ,000, 900
gas pipe line. Work already has
started on the 1,219-mile system
from Louisiana and Texas to Il
linois.
Allied Mills, Inc, declared a
regular quarterly dividend of sol
cents a common share and an
extra Of so cents, both payable
June Is. The company paid an
extra of rs cents a year earlier.
Allen Industries, Inc, declared
quarterly dividend of 20 cents,
payable June 20. The company
paid Is cents each in previous
quarters plus an extra of Is cents
last December.
CascO Products Corp. directors
decided not to declare a common
dividend for this fiscal period be-
cause of lower earnings. Last
year the company made one pay
ment, IS cents in February.
Gabriel Co. declared a dividend
OF 10 cents common share, pay
able June Is. Previous payment
was 10 cents in March.
American Sugar Refining Co.
announced its refined sugar price
will be advanced one-tenth of a
cent to 7.8 cents pound, effective
IN all territories at the start of
business June /.
Wabash Railroad awarded
1920, 900 Of equipment trust GER
t1f1cates to a group headed by
Harris. Hall & Co. on a bid of
98.651 for 21s% coupon.
Westinghouse Electric Corp. re-
ported its jet airplane engine has
been approved by the CAA for use
in commercial craft. The corpo-
ration's jets now are powering
some of the Navy's and Air Forces
fastest experimental and opera
tional combat planes. an official
said.
international Telephone g. Tele-
graph Co. stockholders were told |
that resumption of dividends de-
pends largely on transferability
OF income on foreign properties. |
Net income for the first 1850 quar-
ter was estimated at 50, 100 900 VS..
81 100000 a year earlier.
Southern Co. and subsidiaries
earned SIC, ,969,794 or SIPS a share
in IL months ended April 80 VS..
$12,774.170 or 81 .06 in the previous
year.
Georgia Power Co. net income
for IL months ended April 80 was /
s1o,707,393 VS.. $7.855.747 in the
preceding fiscal period. |.
Missouri Kansas Texas Lines
earned $1.202.000 in four months
ended April 80 VS.. 1851 900 a year
earlier.
New York, New Haven g. Hart
ford Railroad net income for four
months ended April 80 was $685. Il
1876, after sinking funds, VS.. ST.
1872 ,357 in the same 1949 period. II
Chain Belt Co. earned 1868 8,477
or $1.37 in six months ended April \
80 VS.. $1,110,808 or 1928 a year