Evening star., 1950-06-28
Business Briefs
Electric Power Consumptio,

Electric Power Consumption set
a record of 6,102, ,288 900 kilowatt
hours in the week ended June "a
VS.. COIL ,674,000 in the previous
week and was 1857 above $780,
$4,000 in the like 1949 week
Edison Electric Institute.
Prices of Stainless Steel and gall
vanized steel pipe were raised by
three subsidiaries of United States
Steel Corp. Stainless steel was
raised to IL cents a pound from
l cent while galvanized steel pipe
was advanced an average of Sc a
ton.
Celanese Corp. Of America di-
rectors authorized the redemption
on August l of IS million of the
company's debentures. This will
be in addition to the normal an
nual retirement of debentures
through the sinking funds.
United States Rubber Co. stock
holders approved a new pension
plan guaranteeing at least 500 a
month, including social security,
to employees retiring at IS after
Is or more years of service.
American Cyanamid Co. an
nounced it will begin construction
soon on a So million plant in
East Chicago, ILL.,. to produce
cracking catalysts for the petrol
lum industry.
Schenley Industries, Inc, stock
holders will vote August % on a
plan to increase authorized stock
25% and issue five shares for
each four now outstanding. Net
income for nine months ended
May 81 was $19,7S1,177 or $5.67
a share VS.. $21.026.46 or S5.84 a
year earlier.
United Gas Improvement Co.
placed common stock on a quar-
terly basis with dividend decla-
ration of IS cents, payable Sep
tember 80. A semi-annual div
idend of 10 cents will be paid
June 80.
Philadelphia & Reading Coal &
Iron Corp. declared a dividend OF
IS cents common share, pay
able August !. A like amount was
paid May l. January's payment
was omitted because of the coal
strike. Last year the company
paid IS cents in April and so cents
each in July and October.
Atchison, Topeka e. Santa Fe
Railroad earned s1s,o92,952 or
$3.50 share in five months
ended May 81 VS.. sl3,l03,l32 or
$4.33 a year earlier.
New York Central Railroad Sys-
tenn had a deficit of $6.487 200 in
f1ve months ended May 81 VS.. net
income of $2,823, ,645 or "A cents a
share in the same 1949 period.
Texas Utilities Co. earned $1O,-
689,583 or 1928 in IL months
ended May 81 VS.. $8,460,170 or
$2.l2 in the previous year.
Seeger Refrigerator Co. net in
come for nine months ended May
81 was $3,873,368 or 1882 VS..
81, 742,841 or $2.49 in the same De-
riod last year.
Reading Co. earned $3,231.817 or
$1.47 in five months ended May 81
VS.. $2,801,670 or SLIT a year
earlier.
st. Louis San Francisco Railway
System net income for five months
ended May 81 was s2,188,599 VS..
81 ,0S4 ,359 in the same 1e49 period. |
Pittsburgh & Lake Erie Railroad
earned $2,186,211 or S2.53 in five
months ended May 81 VS.. 50. .8Ss,7i4
or 1894 year earlier.
Beatrice Foods Co. profit for
three months ended May 81 was
1892 .267 or 81 cents VS.. $500, $50
or 73 cents in the same l949
period.
Mid Continent Airlines earned
$109, 1863 or 27 cents in five months
ended May 81 VS.. $90,563 or %
cents a year earlier.
D. A. Schultz, Inc, elected
Joseph A. Neff board chairman to
succeed Louis Goldvogel, who re-
signed. Mr.. Neff is president of
Neff g. Co., Inc.
Commercial Solvents Corp. an
the appointment of Har-
old j. Henry as vice president in
charge of sales to succeed Henry
w. Denny, who retired.