Evening star., 1950-02-21
Business Briefs

Louis LcSE fae SoA WaiChamWatcn ~
Il Business Briefs
Business Failures increased to
2l8 in the week ended February
16 from 1876 In the preceding
week. and were far above l80 In
the like 1949 week-Dun g. Brad
street.
Markets Will Be Closed tomor-
row throughout the United States
in observance OF Washington's
birth day. However, livestock
market reports will be issued as
usual. Canadian and London ex-
changes will be open.
Skelly OIL Co. stockholders will
meet Friday to consider a pro-
posed 2-for-1 stock splitup. 1t
would be effected by means Of a
1907 stock dividend.
Hamilton Watch Co. stockhold-
ers will vote April II on a plan to
authorize directors to incur up to
$3,500.o00 Of Indebtedness on q
long term basis.
Commonwealth Of Virginia Of
fering of $4,000. 900 OF sh%
Elizabeth River Tunnel District
30-year revenue bonds will be
marketed by Alex. Brown g. Sons
and B. ]. Van 1ngen & Co. This
will be the initial financing for a
toll bridge and tunnel between
Portsmouth and Norfolk.
Southern Pacific Co. asked ICC
authority to issue $37,727 800 of
convertible debentures and 754,552
common shares to meet conversion
requirements. Proceeds would be
used for its 1850 improvement
program.
Botany Mills. Inc, reported new
orders in the first four weeks Of
this year exceeded $5,000,000 VS..
$1,500,000 in the like 1949 period.
Cutler Hammer. Inc, declared
an extra dividend of 10 cents a
common share and a regular quar-
terly of 80 cents, both payable
March is. Last year the company
paid extras Of 20 cents in March
and go cents in December.
E. I. du Pont de Nemours & Co.
declared a dividend of IS cents
a common share. payable March
IA. Earnings for common stock
in 1949 were equal to $4.52 a share
VS.. 1928 in 1948, adjusted to the
4-for-1 stock splitup last June.
United Fruit Co. declared an
extra dividend of 81 and a regular
quarterly of so cents. both payable
April IA. A like extra was paid
a year earlier.
Southern Co. net income for II
months ended January 81 was
SIG. 1853 ,689 or $1.25 VS.. $1l, 1922, $40
or SO cents in the preceding fiscal
period.
Admiral Corp. earned 1928, ,582
or $4.12 in 1949 VS.. $3.50, ,o25 or
$1.82 in the previous year.
North American Oil Consolidated
earned $2.43o,197 or 1896 in 194s
Tvs. $2,299,964 or $s.47 in the previ-
GUS year.
Puget Sound Pulp g. Timber Co.
net income for 1949 was 81, 1885, ,497
or S1.45 VS.. $5,513,626 or $7.09 in
1948.
Froedtert Grain & Mailing Co.
net income for IL months ended
January 81 was $2,832 ,134 or 1894
VS.. s2,131,236 or $2,1s In the pre-
ceding fiscal period.
Allegheny Ludlum Steel Corn.
earned s1.976,323 or $1,16 In 1s4s
VS.. $6,S33.384. OF $5.o5 in the pre-
vious year.
Pacific Finance Corp. net in
come for 1949 was $l,956, $50 or
1922 VS.. $2,013,205 or $3.50 In
1948.
United-Carr Fastener Corp.
earned $2,203.29l or 1922 in 1949
vs. 81 ,983, ,904 or $3.50 In the pre-
vious year.
Simonds Saw e. Steel Co. net
income for 1949 was $l,712,866 or
$3.45 VS.. $3,323,377 or $3.50 IN
1948.
Park & Tilford, Inc, earned
81 1897 $40 or $3.50 in 1949 VS.. $2,-
270,894 or SO in the previous year.
Duval Sulphur g. Potash Co. net
incomes for 1949 was $78l,277 or
$l.56 VS.. $764,3s5 or $1.53 in 1s4s.
Monarch Machine Tool Co.
earned $557. 1886 or $2.e5 in ls4s
VS.. $639,822 or $3.o5 IN the previ-
Gus year.
Baltimore & Ohio Railroad
handled 39.so4 cars Of freight In
the week ended February IS vs..
42.064 in the previous week and
$1,000 in the like 1949- week.
Stone & Webster Engineering
Corp. elected William r. Ryan vice
president.
Manati Sugar Co. announced
the election of Georgia A. Braga as
president.
Carnegie Illinois Steel Corp.
promoted James D. Rollins from
planning engineer to assistant
chief engineer to succeed F. r.
Burnette, who was named assist