Evening star., 1950-02-02
Business Briefs

Bank Clearings in rs leading
cities declined to $13,277,539, 900
in the week ended February l VS..
$13,555. 500, 900 in the previous
week and were 4.6% below $13,-
9l3,873, 900 in the like 1949 week
Dun & Bradstreet.
Business Loans Of member banks
in leading cities increased to $13,-
871 600, 900 on January Is, a gain
of 100000 900 from a week earlier,
but remained $1,510,000, 900 below
a year earlier.-Federal Reserve
Board.
Engineering Construction o n
awarded this week declined to
$160. .683, 900, a drop of 26% from
last week and 1870 below the like
1949 week. - Engineering News
Record.
National Advertising report for
December showed that newspapers
kept their lead with a gain Of
21% from the same 1948 month.
Printers Ink. Outdor advertise
ment was up 14%. but all other
classif1cations registered declines
from year earlier.
Consolidated Textile Co., Inc,
declared a stock dividend of one
share for each 10 shares outstand-
ing at the close Of business Feb
ruary "A, payable March 10.
General Telephone System plans
to spend $54. TOO 900 in gross addi-
tions to plant in 1850. said Presi-
dent Harold v. Bowel.
American Power g. Light Co. di-
rectors voted to place two bids for
controlling stock Of Pacific Power
& Light Co. before the SEC for
approval.
Pennsylvania Power Co. regis
tered with the SEC $4,000. 900 of
30-year first mortgage bonds to
be sold at competitive bidding to
reimburse the company's treasury
for construction expenses. -
Southern Pacific Transportation
System earned $50. .675, ,6l8 or 1886
a share in 1949 VS.. $43,770, ,280 or
$11.60 in the previous year.
United Merchants & Manufac-
turers, Inc, net income for six
months ended December 81, was
SIS, ,521 900 or $1.29 VS.. $8.613,000
or $201 in the same 1948 period.
Reeves Brothers, Inc, earned
Isl ,927 1854 or $3.50 in six months
ended December 81 VS.. $2,672, ,905
or $2.34 year earlier.
Hancock Oil Co. of California
had a net income of $1,573,182 or
1894 in six months ended De-
cember 81 VS.. 1894. .402 or $7.64|
in the same 1948 period.
North American Aviation, Inc,
earned $3.50, 900 or 40 cents in
three months ended December 81
VS.. 81 .222,979 or SO cents a year
earlier.
Timken-Detroit Axle Co. net in
come for six months ended De-
cember 81 was $1,251. .088 or So
cents VS.. $685. ,261 or $1.45 in the
same 1948 period.
Family Finance Corp. earned
$639,191 or At cents In three
months ended December 81 VS..
$496, ,846 or AZ cents year earlier.
Atlas Plywood Corp. profit for
six months ended December 81
was $454 ,998 or 76 cents VS.. ST.
354 ,260 or $226 in the same 1948
period, .....
Bristol Myers Co. earned $546,-
563 or IS cents in three months
ended December 81 VS.. $685.. 2.534
or SO cents year earlier.
Thomas Steel Co. net income
for 1949 was $1,135,070 or S3.14
VS.. $1.801. .146 or $50 in 1948.
Burton Dixie Corp. earned
1928, ,762 or $3.98 in the year ended
November 80 VS.. $1,o12,17s or $4.89
in the previous year.
United Drill & Tool Corp. net
income for 1949 was $500, 800 VS..
$1,475, ,108 in 1948.
Eastern States Corp. earned
$452,128 in 1949 VS.. $75O,829 inI
the previous year.
Dayton Rubber Co. reported al
deficit Of $83.106 for the year,
ended October 81 VS.. profit of |
$743.870 or $1.44 a share in the
preceding fiscal period.
Chiffon Co. announced the ap-
pointment of William A. Phair as
editor of Hardware Age. George
F. Sullivan will succeed him as
managing editor Of Iron Age.
American Bureau of Shipping
elected j. Lewis Luckenbach board
i,sy,1