Evening star., 1950-06-13
Business Briefs

Business Failures declined to
164 in the week ended June 8 VS..
1853 in the previous week and l74
in the like 1949 week.-Dun &
Bradstreet.
Steel Production in May set an
all-time monthly record of 8,549.-
038 tons, a gain of 147,00O tons
over the previous monthly record
set in March. 1949.-American
Iron & Steel Institute. Output in
five 1850 months totaled 38,972 1863
tons. about $4,000 below the
same 1949 period, as a result of
the coal strike.
M. LOwenstein & Sons has OBJ
tanned an option to buy $4,000
shares of Powdrell & Alexander,
Inc. common stock from Joseph
w. Powdrell. chairman of the
company. at SITS share after
deducting brokerage charges.
BulOva Watch Co. offered to
take over Waltham Watch Co. at
a court hearing in Boston on re-
organization of the latter COM
pany. Bulova offered one of its
shares for each : 10 Waltham
shares and proposed to put $1.4
million into Waltham preferred.
General Tire & Rubber Co. in
creased prices of natural rubber
tires 1917.
Superior Steel Corp. advanced
the price of hot rolled strip steel
SIS ton. A similar boost was made
less than a week ago by Sharon
Steel Corp.
North American Aviation, Inc,
declared a dividend of so cents,
payable July 10. raising payments
for the year ended September 80
to $1.25 VS.. 81 in the preceding
year.
Consolidated Mining & Smelling
Co. of Canada, Ltd, declared an
extra dividend of $3.50 and a reg
ular semi-annual dividend of 81 so,
both payable July Is. An extra of
$3.50 was paid last July.
Butte Copper & Zinc Co. de-
clared a dividend of Is cents as
common share, payable July 10,
and an additional payment Of IS
cents. payable December 18. The
company made only one payment
Of Is cents in 1949.
]. E. Seagram & Sons earned
81 ,685, ,608 in three months ended
April 80 VS.. $8,916.617 a year
earlier.
Warner Bros. Pictures, Inc, had
net income Of 5,897 900 or 80 cents
a share in six months ended Feb
ruary Is VS.. $5,624 900 or II cents
in the same period last year.
Southern Union Gas Co. earned
$1.533,556 or So cents in three
months ended March 81 VS..
$928.113 or 73 cents year earlier.
Ell Paso Natural Gas Co. net in
come for the year ended April 80
was $4,311,634 or $1.73 VS.. S.
492.274 or $2.36 in the preceding
fiscal period.
ATF, Inc, reported a profit of
$1,174 900 or 81. .88 in the year end
ed March 81 VS.. $2.170,0 900 or $3.48
in the preceding year.
Western Union Telegraph Co.
earned $863.284 or 10 cents a
share in four months ended April
80. including $593,368 profit from
sales of real estate VS.. deficit OF
$3,442. .050 year earlier.
PettibOne Mulliken Corr. net
income for the year ended March
81 was $515.035 or $4.52 a share
VS.. $1.004,555 or $8.57 in the pre-
ceding fiscal period.
BURY Biscuit Corp. earned
$122,913 in % weeks ended May
13 VS.. a loss of $123,2l0 a year
earlier.
Baltimore g. Ohio Railroad han
died 81, ,288 cars of freight in the
week ended June 10 VS.. 57,716 in |
the previous week and 64,615 in
the like 1949 week.
Ferro Enamel Corp. will start |
construction Of a $500 plant |
in Mexico City at the end of this
month.
Great Atlantic & Pacific Tea Co.
Of New Jersey elected Ralph W.
Burger president to succeed the
late David T. Bofinger. The COM
pany is the major operating unit |
of the big store chain.
United States Steel Corp. of
Delaware appointed Samuel B.
bingham and Howard E. Isham
controllers.
General Time Corp. elected to
the board Don G. Mitchell, presi-
dent of Sylvania Electric Prod