Evening star., 1950-09-20
Business Briefs

panded to 6,449, ,101 900 kilowatt
hours in the week ended Septem-
ber Is, only a shade below the
all-time high of 6,459 1886, 900 two
weeks earlier, and was 1859
above 5,579, los, 900 in the like
1949 week.-Edison Electric Insti-
tute.
American Telephone g. TeIe-
graph Co. stockholders will vote
at a special meeting November
Is on new record-high flnanc-
ing plan. including new deben-
lures. an employe stock purchase
program and 10 million share
increase in capital stock. Directors
approved the plan today.
Thompson Products, Inc, of
Cleveland and Perfect Circle Corp.
OF Hagerstown, Ind, announced
merger of the two auto parts
firms. If Perfect Circle stock
holders approve. they will re-
ceive one Thompson share for
each Az shares of Perfect Circle.
Ell Paso Natural Gas Co. stock
holders approved an increase in
authorized common stock to
$500, 900 shares from $500 900.
Rayonier, Inc, declared a quar-
terly dividend of so cents a COM
mon share and an extra of Is
cents. both payable November Is.
A similar extra was paid August
Is.
M. LowenStein & Sons, Inc, de-
clared quarterly dividend of SO
cents plus 25% stock dividend
and special cash dividend of
371a cents. The quarterly is pay.
able December 28, the special on
October 16 and the stock on No
vember IS.
Chesapeake Corp. of West Point,
Va, q paper company, declared
stock dividend of 25%, payable
October 20, and a quarterly of 50
cents, payable on the increased
stock November is.
Chesapeake & Ohio Railway an
nounced it will purchase a new
406-foot Lake Michigan car ferry
to cost around $4,500.000 and 1000
more 70-ton coal hopper cars to
cost about $5,200,000.
National Tea Co. sales in four
weeks ended SEPTEMBER 9 totaled
$23, 1895 1865, a gain of 13.4% from
a year earlier; in 36 weeks ended
September 8, $209. DOT 7,376. an in
crease of 12.4%.
KrOger Co. sales in four weeks
ended September 9 totaled $685.
820,753, a gain of 8.8% from
year earlier; in 36 weeks ended
September 8, $577.765. 1857. an in
crease of 3.6%.
Houston Lighting & Power Co.
earned $6,415:214 or 1896 a share
in IL months ended August 81
VS.. $5, ,205 1896 or $3.50 in the pre-
vious year.
Arkansas Power & Light Co.
net income for IL months ended
August 81 was $4,722. .369 VS.. $3,-
922 1862 in the preceding IL
months.
United States Smelling, Rein
ing g. Mining Co. earned $612,-
953 in eight months ended August
81 VS.. $1,407,315 a year earlier.
Lane Bryant, Inc, profit for six
months ended July 81 was $780,
900 or So cents VS.. $705,000 or
$1.18 in the same 1949 period.
Miles Shoes, Inc, earned $685.
451 or 1.31 in six months ended
July 20 VS.. $627,164 or $1.27 a
year earlier.
Harris Seybold Co. profit for IL
months ended June 80 was $2,-
019,467 or SLIPS VS.. $2,170,615
or $13.35 in the preceding fiscal
period.
Swift g. Co. will open bids Oc-
tober II on a new wholesale dis
tributing plant to be erected at
Richmond, Va, at a cost of around
81 million.
Colorado Fuel & Iron Corp. pur-
chased ITS acres of undeveloped
land adjoining its Wickwire Spen-
Ger Steel Division plant at Buffalo
to provide for future expansion.
The company does not plan any
immediate construction.
Sinclair Refining Co. announced
the appointment of Roy j. Tibbets
as vice president in charge of all
pipe lines and a member of the
board.
National City Bank of New York
elected Boykin Cabell Wright a
director to fill vacancy left by
the death of Guy Fairfax Cary.
American Lead Pencil Co.
elected Boykin Cabell Wright a.
director to fill q vacancv loft nv