Evening star., 1950-03-24
Business Briefs
Money in Circulation declined

| Business Briefs
Money in Circulation declined to
$26,972, 100000 on March %, a
drop of s51,oOo,OOO from a week
earlier and $451 100000 below a
year earlier.-Federal Reserve
Board.
Cold Rolled Sheet Shipments by
the steel industry set a record of
711,813 tons in January-Ameri-
can Iron & Steel Institute. Total
shipments of all steel products in
January reached 5,482,691 tons
VS.. 5,410,902 in the previous month
and 5,761,959 in the same 194s
month.
Major Rayon Producers are cur
failing production as a result of
slower demand. Burlington Mills
Corp. will operate most of it's ray
on weaving plants on a 5-day
basis instead of 6 days, starting
this week. Other producers were
reported planning similar action.
Consolidated Gas, Electric Light
e. Power Co. of Baltimore stock
holders approved a 3-for-l split in
common stock and elected Charles
P. Crane president to succeed
William Schmidt, jr.. who becomes
board chairman.
Pantepec Oil Co. directors de-
cided not to declare a dividend
usually approved at this time.
Pennsylvania Railroad reported
a deficit of $6,033,928 for Feb
ruary VS.. a loss of $l,398,671 a
year earlier. For two months of
1850 there was a deficit of s4.-
790,168 VS.. net income of S586 ,0O5
a year earlier.
Sterling Drug, Inc, earned $l3,-
006,e6l or 1891 a share VS.. S12,-
721.61o or 1925 in the previous
year.
Crane Co. net income for 1949
was S3,011,S87 or s3.l7 VS.. s15,-
666,7l9 or $6.42 in 1948.
Otis Elevator Co. earned S10,-
823, ,961 or 1922 in 1e49 VS.. s12.-
086.006 or $5.85 in the previous
year.
GameweIl Co. profit for nine
months ended February % was
S771.177 or $2.15 VS.. $904,03O or
1888 a year earlier. =.
Canadian Westinghouse Co.
Ltd. earned $4,187,709 or s7.82
in 1949 VS.. $4,177,341 or $7.29 in
the previous year.
White Sewing Machine Corn.
net income for 1949 was S4,126.-
7l3 or $11.27 VS.. $4,475, ,907 or
1924 in 1943.
Robertshaw Fulton Controls
Co. earned $2,733,150 or $2.25 in
1949 VS.. S3.326,523 or $2.76 in the
previous year.
Underwood Corp. profit for the
first three months of 1850 should
about equal the $595,l8 or 81
cents share earned in the same
1949 period, said President Leon
T. Stowell.
Pond Creek Pocohontas Co. net
income for 1949 was $2,183,358 or
$6.43 vs.. $3,622,518 or $1O.67 in
1948. |
Panhandle Producing & Refin-
Ing Co. earned $1,262,810 or 81
cents in l949 VS.. $2,421,923 or
$1.67 in, the previous year.
Swift International Co., Ltd,
estimated profit for 1949 at ST.
1876. 900 or rs cents share in
terms of United States currency
VS.. 81 .446,670 or 72 cents in 1948.
Hoffman Radio Corp. net in
come for 1949 was 81 ,276, ,036 or SIS |
VS.. $223,61 or 86 cents in 1948.
City Auto Stamping Co. earned
81. 1875 1874 or $3.19 in 1949 VS.. ST.
3o7, ,e33 or $3.49 in the previous
year.
Creameries of America, Inc, net
income for 1949 was $1,O08,296 or
$155 VS.. $685. ,843 or $1.32 in 1948.
G. r. Kinney Co. earned 81 1,178.-
260 or $428 in 1949 VS.. $1,326, ,878
or $5.01 in the previous year.
Republic Aviation Corp. net in
come for 1949 was $876,632 or
81 cents VS.. $2,196.475 or $2.19 |
in 1948.
American Maize-Products Co.
earned $752,432 or $2.51 in 1949
VS.. $314,662 or $1.05 in the pre-
vious year.
Federal Bake Shops, Inc, net |
income for 1949 was $451,446 or
s1.06 VS.. $484,658 or s1.13 in 194S.