Evening star., 1950-09-19
Business Briefs

Business Failures rose to 165 in
the week ended September IA VS.
las in the previous week, but re-
manned well below 1875 in the like
l949 week-Dun & Bradstreet.
Railroad Operating Revenues Of
Glass I carriers in August were
around 1880 above August, 194e
Association of American Rail
roads. Freight revenues were ur
229o, but passenger receipts were
down .29c.
August Fire Losses totaled $49,-
$4,000, a drop of $50 from the
previous month and $50 below the
same 1949 month-National Board
of Fire Underwriters. Losses for
eight months of 1850 totaled $780,
5000, gain of 4.7%o from a
year earlier.
Domestic Lead Output declined
159o in July to the lowest monthly
level since last October-Bureau
of Mines. Daily average zinc pro-
duction in July was down SO and
the lowest since last January.
HOlophane Co. declared a divi-
dend Of 81 common share, pay
able September %. The company
paid the same amount on Au-
gust 90.
American Dyewood Corp. has
purchased control of United Sani-
tary Corp. which owns and op-
crates the former Warrington
Pottery Co., makers of bathroom
fixtures.
Robbins Mills, Inc, has ar
ranged for a loan of SO million
from Mutual Life Insurance Co.
OF New York. The loan is in the
form of 20-year notes.
Western Maryland Railway in
vited bids until October 4 on $2,-
040,000 of equipment trust certifi-
Gates, series o.
UshcO Mfg. Co. announced the
closing of its Frankfort, Ind,
plan. which made metal and
wooden bodies for Chrysler sta
ton wagons. !Chrysler will make
its own station wagon bodies.
American Stores, Inc, sales in
August totaled s33.018,66O, a gain
of 9.4To from a year earlier; in
eight months, $186,714,367, an in
crease of 8.7%.
Montgomery Ward & Co. earned
$27. .622,617 or $4.14 a share in six
months ended July 81 VS.. $14,-
480,163 Or $2.12 a year earlier.
Ohio Edison Co. net income fol-
IL months ended August 81 was
$14.025,138 or $3.18 VS.. $12,7l5,-
845 or $2.85 in the preceding Il
months.
Union Tank Car Co. earned
$2,130,953 or $1.98 in six months
ended June 30 VS.. $1,508,263 OF
$1.40 a year earlier.
Wick Chemical Co. net profit for
the year ended June 80 was
81, ,663 ,020 or 1888 VS.. $3,929, ,61s
or $2.79 in she preceding fiscal
period.
Minnesota Power & Light Co.
earned $3,400.742 or 1898 in II
ended August 81 VS.
$3,085,112 or 1884 in the pre-
vious year.
Sterchi Bros. Stores had a
profit of $829,oO0 or $1.39 in six
months ended August 81 VS..
$640, ,420 or SLOT in the same 1949
period. -.,s.--
Baltimore & Ohio Railroad han
died 65,003 cars of freight in the
week ended September Is VS.. SO, ,871
in the previous week and SIS, ,469 fl
the like 1949 week.
Manufacturers Trust Co. named
Henry C. Won Elm president and
chief executive. He succeeds the
late Harvey D. Gibson. Horace C.
Flanagan, vice chairman of the
board was named chairman to
succeed Mr.. Won Elm.
United States Time Corp. ap-
pointed Lloyd Bernegger vice
in charge of sales, ad-
vertising and promotion. He was
formerly a vice president of
Whitehall Pharmacal Co., a divi-
sion of American Home Products
Corp.
st. Louis Car Co. appointed Ed
win B. Meissner, jr., executive vice
president. William F. Kamman,
jr., was named vice president in