Evening star., 1950-05-18
Business Briefs

Bank ClearingS in Is leading
cities rose to $l3,825, ,088 900 in the
week ended May 16, a gain of $50
from the previous week and go
ahead of the like 1949 week-Dun
d Bradstreet.
Business Loans of member banks
IN leading cities dropped to $l3,-
1865 900. 900 on May 10, a decline of
$55 900, 900 from a week earlier and
$543. .o00. 1000 below a year earlier
Federal Reserve Board.
Crude Oil Production averaged
5,l18,150 barrels daily in the week
ended May 13 VS.. 5,058,459 in the
previous week and 1885, 800 in the
like 1949 week-American Petro-
leum Institute.
Domestic Copper Price was
raised to 2012 cents a pound by a
leading producer, UP one cent
from the price prevailing since
April 10. Not all producers fol-
lowed the boost Immediately.
American Metal Products Co.
declared quarterly dividend of so
cents a common share, payable
July 5. The company paid 40 cents
in March,.
Pennsylvania Salt Mfg. Co. de-
clared a quarterly dividend of 40
cents. payable June IS. Previous
payments were 30 cents.
Thomas Steel Co. declared a
quarterly dividend of so cents a
common share. payable June IA,
Previous payment was 40 cents.
| Crucible Steel Co. of America
declared a dividend of $l.25 a
share on arrears on the SO pre-
ferred stock, payable June 30
Arrearages remain at $l.87l2 a
share.
Columbia Gas System, Inc.
asked SEC permission to sell SllO
million OF 25-year debentures at
competitive bidding to finance re-
demption of $91.5 million of old
debentures and new construction,
Hotels StatIer Co. has applied
for building permit for construc-
ton of a 1.275-room hotel, Office
building and garage at Los An
geles.
+. w. WOolworth Co. stock
holders heard President A. IL
Cornwell predict improved sales
volume for the next few months
The company will construct, mod
ernize or open 80 stores this wear
at a cost OF $23 million, he said.
Sinclair Oil Corp. profits for
1890 will compare favorably with
l949 results, declared President
r. c. Spencer at the annual meet
ing. Domestic sales in the first
four 1850 months were more than
l4% above year earlier.
Cities Service Co. and subsidi-
aries earned $16,271.757 or $4.4o
share in three months ended
March 81 VS.. $18.510.903 or IS a
year earlier.
Anaconda Copper Mining Co.
net income for March quarter was
$7.903, ,479 or 81 cents VS.. $14,0O5.-
005 or $l.61 in the same 1e49
period.
Gillette Safety Razor Co. will
earn about $7,450,000 or 1888 in
the first half of 1850 VS.. S4,702. 1882
or 50 year earlier, said President
Joseph P. Spang, jr.
Caterpillar Tractor Co. net in
come for four months ended April
80 was $l0.052,971 or $2.58 VS..
$5,938,937 or $1.5S in the same
1949 period.
Virginia Electric & Power Co.
earned $8.686.771 or $1.87 in the
year ended April 80 VS.. $6,lsl, ,797
or 81. AS in the previous year.
Union Electric Co. (Missouri)
net income for IL months ended
March 81 was $13,5l1,274 VS..
$1l .655, ,631 in the preceding year.
Allen b. Du Mont Laboratories,
Inc. earned $780,. 900 or 80 cents
in II weeks ended March 26 VS..
$l.48l 900 or 10 cents a year
earlier.
Peabody Coal Co. profit for
three months ended April 80 was
$519.532 or so cents VS.. SAFE, ,061
or 43 cents in the like 1949 period.
FOrmica Co. earned $421 $40 or
$2.57 in three months ended
March 81 VS.. $299,142 or $l.82 al
year earlier.
Greyhound Corp. net income for
March quarter was 1894 ,029 or 4
cents a share VS.. $613,909 or 6
cents in the same 1949 period.